SVRN · OceanPal Inc.

Summary

OceanPal Inc. announced a one-for-twenty reverse stock split effective March 30, 2026, reducing outstanding common shares from approximately 37,517,290 to 1,875,864 to restore compliance with Nasdaq's minimum bid price requirement under Listing Rule 5550(a)(2). The split was approved by shareholders on May 20, 2025, with trading on a split-adjusted basis under ticker SVRN and new CUSIP Y6430L178.

Key takeaways

• One-for-twenty reverse stock split effective March 30, 2026
• Outstanding shares reduced from 37,517,290 to 1,875,864
• Shareholder approval at annual meeting on May 20, 2025
• Trading begins split-adjusted on Nasdaq under SVRN on March 30, 2026
• New CUSIP Y6430L178 assigned
• Cash in lieu of fractional shares based on March 27, 2026 closing price
• To regain compliance with Nasdaq Listing Rule 5550(a)(2) minimum bid price