OceanPal Inc. filings document a foreign private issuer with shipping operations, a NEAR Protocol treasury strategy and recurring capital-structure activity. Form 6-K reports cover financial results, vessel revenue, staking reward income, reverse stock splits, articles amendments, Nasdaq listing compliance matters and updates incorporated by reference into the company’s shelf registration statements.
The filing record also addresses governance and reporting controls, including director changes, corporate secretary changes and engagement of an independent registered public accounting firm. Registration and current-report disclosures describe common shares, warrants, offering activity, risk and compliance topics, and the company’s transition from a pure shipping operator toward a diversified model that includes SovereignAI Services LLC.
OceanPal Inc. director and Co-Chief Executive Officer Salvatore J. Ternullo reported an open-market purchase of Common Stock. On April 17, 2026, he bought 500 shares at $10.35 per share. Following this transaction, his directly held position increased to 1,500 shares of OceanPal common stock.
OceanPal Inc. reports that Nasdaq has confirmed the company has regained compliance with the exchange’s minimum bid price requirement under Listing Rule 5550(a)(2), meaning its shares continue to meet Nasdaq Capital Market listing standards. Management says this allows full focus on the company’s dual strategy.
OceanPal is evolving from a pure-play shipping operator into a diversified business built around a NEAR Protocol digital asset treasury of approximately 55 million NEAR tokens and a traditional maritime division. Through subsidiary SovereignAI, it manages what it describes as the first publicly traded NEAR Protocol treasury, while its fleet of three vessels continues transporting dry bulk commodities and refined products.
OceanPal Inc. Co-Chief Executive Officer and director Salvatore J. Ternullo purchased 500 shares of Common Stock in an open-market transaction. He bought the shares at $10.88 per share and now directly holds 500 shares following the transaction, indicating a small personal stake.
OceanPal Inc. filed a Form 6-K to report that it has filed Articles of Amendment to its Amended and Restated Articles of Incorporation with the Registrar of Corporations of the Republic of the Marshall Islands on March 27, 2026, to effect its recent reverse stock split.
The company also states that the information in this report is incorporated by reference into its effective registration statements on Form F-3, allowing those shelf registrations to reflect the reverse split corporate changes.
OceanPal Inc. filed an insider ownership report for former officer and secretary Margarita Veniou. The Form 4 data show no reported insider transactions, with zero shares bought, sold, exercised, gifted, or restructured. This appears to be a routine administrative filing without trading activity.
OceanPal Inc. officer Aziz Bibi Rabbina, who serves as Secretary, filed an initial Form 3 reporting beneficial ownership. The filing shows no reportable transactions or holdings, making this a baseline disclosure of insider status rather than a record of recent trading activity.
OceanPal Inc. reported a leadership change in its corporate governance function. On March 25, 2026, Margarita Veniou resigned as Chief Corporate Development & Governance Officer and Secretary, effective immediately. The company stated that her resignation did not arise from any disagreement with the company or its Board on operations, policies, or practices.
On the same date, the Board unanimously appointed Rabbina Aziz as Corporate Secretary, also effective immediately, ensuring continuity in the company’s corporate secretarial and governance duties. The disclosure is also incorporated by reference into OceanPal’s effective Form F-3 registration statements.
OceanPal Inc. is implementing a one-for-twenty reverse stock split of its common shares, effective at the start of trading on March 30, 2026. Every twenty existing common shares will be combined into one share, with no change to par value or total authorized shares.
After the split, the number of outstanding common shares will decrease from approximately 37,517,290 to about 1,875,864. No fractional shares will be issued; holders entitled to a fraction will receive cash based on the NASDAQ closing price on March 27, 2026. The company’s shares will continue trading on NASDAQ under the symbol “SVRN” with a new CUSIP.
The board approved the reverse split in connection with efforts to regain compliance with NASDAQ’s minimum bid price requirement, and the company plans to present this action as part of its compliance plan at a hearing before a NASDAQ Hearings Panel.
OceanPal Inc. reported a major strategic pivot and a much larger loss for 2025. The company transformed from a pure-play shipping operator into a dual business, adding a digital asset treasury focused on NEAR Protocol through its SovereignAI Services subsidiary while slimming its fleet from five vessels to three.
Vessel revenues fell to $13.4M from $25.7M, but the new business generated $0.7M in staking income in roughly two months. The net loss widened to $65.2M, mainly from unrealized and realized losses on digital assets and higher non-cash costs, rather than a collapse in shipping operations. Despite this, the balance sheet strengthened: cash rose to $33.2M, digital assets reached $77.5M, and total stockholders’ equity increased to $156.6M.
For 2026, OceanPal guides to modestly profitable shipping EBITDA of $1.5M–$2.5M and SovereignAI EBITDA ranging from $0.5M to $14.0M, depending on NEAR’s token price. Consolidated adjusted EBITDA could range from slightly negative to strongly positive, showing how sensitive future results are to NEAR’s performance. The company also put in place a $20.1M at-the-market share issuance program and a $10M buyback, using both tools around year-end 2025.
OceanPal Inc. filed an initial ownership report for Chief Operating Officer David L. Schwed, showing he was granted 1,096,205 restricted stock units. These units vest 25% on September 22, 2026, with the remaining balance vesting in equal monthly installments over the next 36 months, subject to his continued service. Each unit represents a contingent right to receive one share of OceanPal common stock, aligning his compensation with future company performance.