OceanPal Inc (OP) has released an update.
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OceanPal Inc. announces an amendment to the rights, preferences, and privileges of its 7.0% Series D Cumulative Convertible Perpetual Preferred Stock, with the Board having the authority to adjust the authorized share count. The preferred shares offer cumulative dividends, payable quarterly, and have priority over other stock classes in the event of liquidation, with a liquidation preference initially set at $1,000.00 per share plus accumulated unpaid dividends.
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