Director Ioannis Zafirakis Reports Decrease in Beneficial Ownership to 7.52%

summarizeSummary

Director Ioannis Zafirakis and Abra Marinvest Inc. disclosed a reduction in their beneficial ownership of OceanPal Inc. to 7.52% following sales and participation in a tender offer.

check_boxKey Events

• Beneficial Ownership Decreased

  Reporting Persons Ioannis Zafirakis (Director/Executive Committee member) and Abra Marinvest Inc. now beneficially own 2,717,827 shares, representing 7.52% of outstanding common stock.

• Preferred Stock Sales and Tender

  The decrease in beneficial ownership is primarily attributed to the sale of 731 Series D Preferred Stock shares to the Issuer and the tendering of 2,373 Series D Preferred Stock shares in the company's recent tender offer.

• Net Effect of Transactions

  This reduction in overall percentage ownership occurred despite the acquisition of 862,745 common shares from a PIPE transaction on October 28, 2025, indicating a net reduction in their potential stake.

auto_awesomeAnalysis

Ioannis Zafirakis, a director and executive committee member, along with Abra Marinvest Inc., reported a decrease in their overall beneficial ownership percentage of OceanPal Inc. to 7.52%. This reduction is primarily due to the sale and tendering of Series D Preferred Stock, which outweighed the acquisition of common stock from a PIPE transaction and was further influenced by a decrease in the Series C Preferred Stock's conversion price. A director's net reduction in their stake, particularly following the company's recent tender offer, could signal a less optimistic outlook and may be viewed negatively by investors.