OceanPal Exits Shipping, Retiring All Series C Preferred Stock and Eliminating All Outstanding Debt
OceanPal completed the sale of its vessel-owning subsidiary to Sezali Inc., officially exiting the shipping business. The transaction eliminated all outstanding debt of $5.0 million and retired 12,185 shares of Series C Preferred Stock, resulting in a debt-free capital structure.
Key figures
- Debt cancelled usd
- 5000000
- Series c cancelled
- 12185
- Series d remaining
- 412
- Dividend rate series c
- 8.0%
- Dividend rate series d
- 7.0%
AI analysis
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