OceanPal announces one-for-twenty reverse stock split

OceanPal (SVRN) announced that its board of directors has determined to effect a one-for-twenty reverse stock split of the company’s common shares. The company’s shareholders had approved the reverse stock split at the company’s annual meeting of shareholders held on May 20. The reverse stock split will take effect, and the company’s common shares will begin trading on a split-adjusted basis on NASDAQ, as of the opening of trading on March 30, under the existing trading symbol “SVRN”. The CUSIP number of Y6430L178 will be assigned to the company’s common shares when the reverse stock split becomes effective.