OP Updates Capitalization to 167,402,561 Shares Following Class C Warrant Exercise

Rhea-AI Filing Summary

OceanPal Inc. updated its capitalization, reporting 167,402,561 common shares outstanding with a par value of $0.01 per share. The total includes common shares issued upon the exercise of the Company’s Class C Warrants following its recent public offering, so the reported figure reflects the post-exercise share count.

The report also states this disclosure is incorporated by reference into the Company’s Form F-3 registration statements (File Nos. 333-269961 and 333-273073). The filing clarifies the current share count and the composition of issued common stock.

Positive

• Clear update to capitalization: Company reports a definitive outstanding share count of 167,402,561, improving transparency
• Includes warrant exercises: Confirms Class C Warrants were exercised and the resulting shares are reflected in the outstanding total
• Incorporated into registration statements: Disclosure is tied to Form F-3 filings (File Nos. 333-269961 and 333-273073), maintaining regulatory consistency

Negative

• Increased shares outstanding: Exercise of Class C Warrants raised the common share count, altering existing ownership percentages
• No proceeds disclosed: The report does not state cash proceeds or financial impact from the warrant exercises
• Limited detail: Filing provides share count but does not disclose pre-exercise share count or number of warrants exercised

Insights

Securities Analyst

TL;DR OceanPal reports a clarified share count of 167.4 million after Class C warrant exercises, updating its public capitalization record.

The filing provides a definitive figure for shares outstanding: 167,402,561 common shares at $0.01 par value, explicitly noting that amount includes shares issued on exercise of Class C Warrants tied to a recent public offering. For investors and analysts, an updated share count is critical for calculating per-share metrics and ownership percentages. The disclosure is incorporated by reference into the company’s Form F-3 registration statements (file numbers provided), ensuring the share count is reflected in registration documentation.

Corporate Governance Expert

TL;DR The company formalized its post-offering capitalization, confirming warranted shares were exercised and are now part of the outstanding base.

This brief report documents an issuance event tied to warrant exercises and establishes the company’s reported common share base at 167,402,561. From a governance perspective, timely reporting of changes in outstanding shares supports transparency for shareholder voting, disclosure obligations, and corporate records. The form also links this disclosure to the company’s F-3 registration statements, maintaining consistency across regulatory filings.

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2025

Commission File Number: 001-40930

OCEANPAL INC.

(Translation of registrant's name into English)

Pendelis 26, 175 64 Palaio Faliro, Athens, Greece

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X] Form 40-F [ ]

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

As of the close of business on August 11, 2025, OceanPal Inc. (the “Company”) had 167,402,561 common shares, par value $0.01 per share (“Common Shares”), issued and outstanding which includes Common Shares issued upon the exercise of the Class C Warrants following the Company’s recent public offering.

The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company’s registration statements on Form F-3 (File Nos. 333-269961 and 333-273073) that were filed with the U.S. Securities and Exchange Commission and became effective on April 18, 2023 and July 14, 2023, respectively.

SIGNATURES

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.

	OCEANPAL INC.
	(registrant)
Dated: August 12, 2025	By:	/s/ Robert Perri
		Robert Perri
		Chief Executive Officer

FAQ

How many common shares does OceanPal Inc. (OP) report outstanding?

OceanPal reports 167,402,561 common shares outstanding, with a par value of $0.01 per share.

Does the OceanPal (OP) update reflect warrant exercises?

Yes. The total outstanding shares includes common shares issued upon the exercise of Class C Warrants following the Company’s recent public offering.

Is this disclosure linked to any registration statements for OceanPal (OP)?

Yes. The information is incorporated by reference into the Company’s Form F-3 registration statements (File Nos. 333-269961 and 333-273073).

What is the par value of OceanPal’s (OP) common shares?

The par value of the common shares is $0.01 per share.

Who signed the OceanPal (OP) Form 6-K report?

The report is signed on behalf of the registrant by Robert Perri, Chief Executive Officer.