Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
The information contained in this Report on Form 6-K, excluding the commentary from Semiramis Paliou, Chief Executive Officer of the
Company, is hereby incorporated by reference into the Company's
registration statements on Form F-3 (File Nos. 333-266999 and 333-280693) that were filed with the U.S. Securities and Exchange Commission
and became effective on September 16, 2022, and September 9, 2024, respectively.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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Diana Corporate Contact:
Margarita Veniou
Chief Corporate Development, Governance &
Communications Officer and Board Secretary
Tel: + 30-210-9470-100
Email: mveniou@dianashippinginc.com
Website: www.dianashippinginc.com
X: @Dianaship |
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Diana Investor Relations Contact:
Nicolas Bornozis / Daniela Guerrero
Capital Link, Inc.
Tel: (212) 661-7566
Email: diana@capitallink.com |
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Diana Media Contact:
Mark Semer / Grace Cartwright
Gasthalter & Co.
Tel: (212) 257-4170
DianaShipping@gasthalter.com |
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Star Bulk Corporate Contact:
Simos Spyrou, Christos Begleris
Co - Chief Financial Officers
Email: info@starbulk.com |
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Star Bulk Investor Relations / Financial
Media Contact:
Nicolas Bornozis
Capital Link, Inc.
Tel. (212) 661-7566
E-mail: starbulk@capitallink.com |
DIANA SHIPPING INC. AND STAR BULK CARRIERS
ANNOUNCE MUTUAL AGREEMENT TO TERMINATE VESSEL SALE AND PURCHASE AGREEMENT
Diana's Offer to Acquire All Outstanding Shares
of Genco Remains on the Table
Termination of Agreement Has No Impact on Diana’s
$1.411 Billion in Committed Financing
Nearly Eight Weeks Have Passed Since Diana
Delivered Its Revised Offer and the Genco Board Has Delayed Providing a Substantive Response
Athens, Greece – August 10, 2026
– Diana Shipping Inc. (NYSE: DSX) (“Diana” or “the Company”), a global shipping company specializing in
the ownership and bareboat charter-in of dry bulk vessels that is the largest shareholder of Genco Shipping & Trading Limited (NYSE:
GNK) (“Genco”), and Star Bulk Carriers Corp. (Nasdaq: SBLK) (“Star Bulk”) today announced that following Star
Bulk’s request, the parties have mutually terminated their agreement under which Star Bulk would acquire 16 Genco vessels upon completion
of Diana's proposed acquisition of Genco.
Diana’s offer to acquire all outstanding
Genco shares not already owned by Diana comprised of $24.80 per share in cash (adjusted for Genco’s recently declared dividend of
$0.80) plus one Diana share valued at $2.54 based on Diana’s 30-day volume-weighted average price as of June 16, 2026, remains on
the table. The termination of the sale and purchase agreement with Star Bulk has no effect on Diana’s fully committed $1.411 billion
financing for the proposed Genco transaction, from six leading international banks with no financing condition.
Semiramis Paliou, Diana’s Chief Executive
Officer, commented:
“We are grateful to Star Bulk for their
partnership and support throughout this process, and we respect their desire to move on at this time. The termination of the agreement
eliminates one of Genco’s concerns regarding our proposal and our fully financed offer remains on the table. We continue to call
on the Genco Board to engage with us directly and in good faith to reach a transaction that delivers full and fair value to all Genco
shareholders.”
Petros Pappas, Star Bulk’s Chief Executive
Officer, commented:
“Star Bulk was proud to support Diana’s
proposed acquisition of Genco, which represents a compelling opportunity to create significant value for Genco shareholders. At this time,
given the Genco Board’s unwillingness to negotiate, which deprives their shareholders of this opportunity, we have made the decision
to withdraw from our vessel purchase agreement. We continue to believe in the financial and strategic merits of Diana’s efforts
and wish them success as they continue to pursue this transaction.”
About Diana Shipping Inc.
Diana Shipping Inc. (NYSE: DSX) is a global provider
of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. Diana’s vessels are employed
primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal,
grain and other materials along worldwide shipping routes.
About Star Bulk Carriers Corp.
Star Bulk Carriers Corp. (“Star Bulk”)
is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport
major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. Star
Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, New York, Stamford and Singapore.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this communication and other
statements made by Diana, may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, but are not limited to, statements regarding the intent, beliefs, expectations, objectives, goals,
future events, performance or strategies and other statements of Diana or its management team, which are other than statements of historical
facts.
These forward-looking statements relate to, among
other things, Diana’s proposal to acquire Genco and the anticipated benefits of such a transaction, and Diana’s ability to
finance such transaction. Forward looking statements can be identified by words such as “believe,” “will,” “anticipate,”
“intend,” “estimate,” “forecast,” “project,” “plan,” “potential,”
“may,” “should,” “expect,” “pending” and similar expressions identify forward-looking
statements.
The forward-looking statements in this press
release and in other statements made by Diana or Star Bulk, as applicable, are based upon various assumptions, many of which are based,
in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained
in Diana’s records, Genco’s public filings and disclosures and data available from third parties. Although Diana believes
that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies
that are difficult or impossible to predict and are beyond its control, Diana cannot assure you that it will achieve or accomplish these
expectations, beliefs or projections.
The forward-looking statements in this communication
are based on current expectations, assumptions, and estimates, and are subject to numerous risks and uncertainties. These include, without
limitation, risks relating to: (i) the possibility that the proposed transaction may not proceed; (ii) the ability to obtain regulatory
or shareholder approvals, if required; (iii) the risk that Genco’s Board of Directors or management may continue to oppose the proposal
or not respond to further attempted engagement by Diana; (iv) failure to realize anticipated benefits of the transaction; (v) changes
in the financial or operating performance of Diana, Star Bulk or Genco; and (vi) general economic, market, and industry conditions. These
and other risks are described in documents filed by Diana with, or furnished by Diana to, the U.S. Securities and Exchange Commission
(“SEC”), including its Annual Report on Form 20-F for the fiscal year ended December 31, 2025, and its other subsequent documents
filed with, or furnished to, the SEC, and are described in documents filed by Genco with, or furnished by Genco to, the SEC, including
its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and its other subsequent documents filed with, or furnished
to, the SEC. Diana undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements,
whether as a result of new information, future events or otherwise, except to the extent required by law.
