Research analysts covering OP.
Recent press releases and 8-K filings for OP.
OceanPal Inc. announces digital asset treasury holdings and ticker symbol change
OP
New Projects/Investments
Delisting/Listing Issues
- OceanPal Inc.'s wholly-owned subsidiary, SovereignAI Services LLC, reported digital asset treasury holdings of 53.9 million NEAR tokens valued at approximately $133 million as of November 13, 2025.
- These holdings represent approximately 4.2% of the total NEAR token supply.
- Since its inception on October 28, 2025, SovereignAI's yield strategies have achieved an approximately 5.3% gross annual percentage yield before fees.
- Effective November 17, 2025, OceanPal Inc. changed its stock trading symbol on Nasdaq from "OP" to "SVRN".
Nov 17, 2025, 1:33 PM
OceanPal Announces SovereignAI Treasury Update and Ticker Symbol Change
OP
New Projects/Investments
- OceanPal's wholly owned subsidiary, SovereignAI, disclosed its treasury holdings of 53.9 million NEAR tokens, valued at approximately $133 million as of November 13, 2025.
- These holdings represent about 4.2% of the total NEAR token supply, with SovereignAI targeting 10% accumulation.
- Effective November 17, 2025, OceanPal's common stock began trading on Nasdaq under the new ticker symbol "SVRN", changing from "OP".
- SovereignAI's yield strategies have achieved a 5.3+% gross annual percentage yield (APY) before fees since inception.
Nov 17, 2025, 1:00 PM
OceanPal Inc. Establishes At-the-Market Offering Program
OP
- 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.
- 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.
- The offering is currently limited to $20,127,131, calculated based on the closing price of $2.20 per share on October 27, 2025.
- 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.
Oct 29, 2025, 8:39 PM
OceanPal Inc. Announces $120M PIPE Investment, Launches SovereignAI, and Appoints New Co-CEO and COO
OP
New Projects/Investments
Management Change
Equity Issuance
- OceanPal Inc. announced the closing of a $120 million private investment in public equity (PIPE) transaction.
- 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. SovereignAI aims to acquire at least 10% of the NEAR token supply over time.
- Sal Ternullo was appointed as Co-Chief Executive Officer and a Class I Director, and David Schwed was appointed as Chief Operating Officer.
- OceanPal Inc. also executed an Amended and Restated Stockholders Rights Agreement 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.
Oct 28, 2025, 3:28 PM
OceanPal announces $120M PIPE investment to launch SovereignAI
OP
New Projects/Investments
Product Launch
- OceanPal Inc. (OP) announced the closing of a $120 million private investment in public equity (PIPE) transaction.
- 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.
- 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.
- 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.
Oct 28, 2025, 1:10 PM
OceanPal Inc. Implements Reverse Stock Split
OP
Delisting/Listing Issues
Accounting Changes
- 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.
- The one-for-twenty-five reverse stock split became effective on August 25, 2025.
- 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.
Aug 26, 2025, 12:00 AM
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