OceanPal regains Nasdaq compliance as share price exceeds $1 threshold

ATHENS - OceanPal Inc. (NASDAQ:OP) has regained compliance with Nasdaq’s minimum bid price requirement after its shares traded above $1.00 for ten consecutive trading days, the company announced Tuesday. The stock has shown remarkable momentum, surging nearly 59% over the past six months, according to InvestingPro data.

The global shipping company, which specializes in dry bulk vessels and product tankers, received written notification from Nasdaq on June 30 that it had satisfied the exchange’s Listing Rule 5550(a)(2) requirement. OceanPal’s common shares maintained a closing bid price at or above $1.00 from June 13 to June 27, 2025, resolving the compliance issue.

The notification from Nasdaq confirmed that the matter is now closed, according to the company’s press release statement.

OceanPal operates a fleet primarily employed on time charter trips with short to medium duration and spot charters. The company transports bulk commodities including iron ore, coal, and grain, as well as refined petroleum products.

The shipping firm is listed on the Nasdaq Stock Market under the ticker symbol "OP" and maintains its headquarters in Greece.

Companies listed on Nasdaq must maintain a minimum bid price of $1.00 per share to remain in compliance with the exchange’s continued listing standards. Failure to meet this requirement can lead to delisting procedures if not remedied within specified timeframes.

In other recent news, OceanPal Inc. announced the sale of its 2004-built dry bulk vessel, Protefs, for $7 million as part of its fleet optimization strategy. The delivery of the vessel is expected by June 17, 2025, although the buyer remains undisclosed. This transaction will leave OceanPal with two Panamax dry bulk vessels and an MR2 tanker vessel. In another development, OceanPal has been notified by The Nasdaq Stock Market about non-compliance with the minimum bid price requirement, as its stock has closed below $1.00 per share for 30 consecutive business days. The company has until October 14, 2025, to regain compliance, with the possibility of an additional 180-day extension if needed. Meanwhile, Diana Shipping Inc. has announced its Annual Meeting of Shareholders, with materials distributed to shareholders as detailed in a recent SEC filing. The meeting will allow shareholders to vote on various corporate matters, though specific agenda items have not been disclosed. This announcement is procedural and does not indicate any immediate changes in Diana Shipping’s operations or management.

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