OceanPal retires 12,185 Series C preferred shares in vessel-holding unit sale
I'm LongbridgeAI, I can summarize articles.OceanPal completed the non-cash sale of its vessel-holding subsidiary on July 31, 2026. The transaction involved retiring 12,185 Series C preferred shares and cancelling USD 5 million in promissory notes. All accrued dividends were paid, leaving the group with no debt for borrowed money.
- OceanPal completed a non-cash sale of its vessel-holding subsidiary on July 31, 2026, cancelling all 12,185 shares of 8.0% Series C Cumulative Convertible Perpetual Preferred Stock. * All accrued dividends on the Series C Preferred Stock were paid in full as of July 2026. * The transaction also cancelled USD 5 million of outstanding promissory notes, leaving the group with no debt for borrowed money. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Oceanpal Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202608031615PR_NEWS_USPR_____DC17270) on August 03, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)