- **OceanPal Inc.** entered into a **Sales Agreement** on **October 29, 2025**, with Clear Street LLC and Cohen & Company Capital Markets to establish an **At-the-Market Offering Program**.  **[1869467_0000919574-25-006305_d12029410_6-k.htm:1]** **[1869467_0000919574-25-006305_d12029410_ex1-1.htm:0]** 
- Under this program, OceanPal Inc. may offer and sell shares of its common stock with an aggregate sales price of up to **$250,000,000**.  **[1869467_0000919574-25-006305_d12029410_6-k.htm:1]** 
- The offering is currently limited to **$20,127,131**, calculated based on the closing price of **$2.20 per share** on **October 27, 2025**.  **[1869467_0000919574-25-006305_d12029410_6-k.htm:1]** 
- The Agents will receive commissions of up to **3.00%** of the aggregate gross proceeds from the sale of shares, and OceanPal Inc. has agreed to reimburse up to **$75,000** in legal expenses for the Agents.  **[1869467_0000919574-25-006305_d12029410_6-k.htm:1]**

OceanPal Inc. Establishes At-the-Market Offering Program

- OceanPal Inc. announced the closing of a **$120 million private investment in public equity (PIPE) transaction**.  **[1869467_0000919574-25-006268_d12027594_ex99-1.htm:1]** 
- The company launched **SovereignAI**, a new wholly-owned subsidiary, to implement a digital asset treasury strategy focused on commercializing the **NEAR Protocol** and building blockchain-native AI infrastructure.  **[1869467_0000919574-25-006268_d12027594_ex99-1.htm:1]** **[1869467_0000919574-25-006268_d12027594_ex99-1.htm:3]**  SovereignAI aims to acquire at least **10% of the NEAR token supply** over time.  **[1869467_0000919574-25-006268_d12027594_ex99-1.htm:1]** 
- **Sal Ternullo** was appointed as Co-Chief Executive Officer and a Class I Director, and **David Schwed** was appointed as Chief Operating Officer.  **[1869467_0000919574-25-006268_d12027594_ex99-1.htm:1]** **[1869467_0000919574-25-006268_d12027594_6-k.htm:4]** 
- OceanPal Inc. also executed an **Amended and Restated Stockholders Rights Agreement**  **[1869467_0000919574-25-006268_d12027594_ex10-3.htm:0]** **[1869467_0000919574-25-006268_d12027594_6-k.htm:4]**  and amended the **Series B and Series E Preferred Stock Statements of Designation**, establishing a **9.99% voting power limitation** for Series B holders and eliminating conversion rights for Series E holders.  **[1869467_0000919574-25-006268_d12027594_6-k.htm:2]**

OceanPal Inc. Announces $120M PIPE Investment, Launches SovereignAI, and Appoints New Co-CEO and COO

- OceanPal Inc. (OP) announced the closing of a **$120 million private investment in public equity (PIPE) transaction**.  **[1869467_20251028NY08435:0]** 
- The net proceeds will be used to launch **SovereignAI Services LLC**, a new wholly owned subsidiary focused on implementing a digital asset treasury strategy and commercializing the **NEAR Protocol** for Artificial Intelligence (AI) use cases.  **[1869467_20251028NY08435:0]** 
- SovereignAI intends to acquire at least **10% of the NEAR token supply** over time and build a **blockchain-native, confidential AI-cloud infrastructure** using NVIDIA technology and powered by NEAR.  **[1869467_20251028NY08435:0]** 
- **Sal Ternullo** was appointed Co-CEO and **David Schwed** as COO of OceanPal, bringing expertise in early-stage investing, asset management, information security, and privacy.  **[1869467_20251028NY08435:0]**

OceanPal announces $120M PIPE investment to launch SovereignAI

- OceanPal Inc. filed Articles of Amendment to its Amended and Restated Articles of Incorporation on **August 22, 2025**, to effect a recent reverse stock split.  **[1869467_0000919574-25-005140_d11971143_6-k.htm:0]** **[1869467_0000919574-25-005140_d11971143_ex3-1.htm:0]** 
- The **one-for-twenty-five** reverse stock split became effective on **August 25, 2025**.  **[1869467_0000919574-25-005140_d11971143_ex3-1.htm:0]** 
- As a result of the split, the number of issued common shares decreased from **167,402,561** to **6,696,102**, and the stated capital was reduced from **$1,674,025.61** to **$66,961.02**.  **[1869467_0000919574-25-005140_d11971143_ex3-1.htm:0]**

OceanPal (OP)