0000919574-26-001968
SEC filingOceanPal Inc. effected a one-for-twenty reverse stock split effective March 30, 2026, reducing issued common shares from 37,517,290 to 1,875,864 and stated capital from $375,172.90 to $18,758.64.
The reverse stock split consolidates the Corporation's issued common stock on a 1-for-20 basis, significantly reducing the number of outstanding shares while preserving the $0.01 par value. This action, documented in Exhibit 3.1 as an amendment to Section D of the Amended and Restated Articles of Incorporation, was approved by the Board and Shareholders in compliance with the Marshall Islands Business Corporations Act. The reduction in stated capital reflects the proportional decrease in issued shares, with provisions for handling fractional shares through cancellation and adjustment. Such corporate actions are typically undertaken to meet exchange listing requirements, enhance share price attractiveness to investors, or simplify the capital structure.