OceanPal Inc. Announces Receipt of Nasdaq Notice

Core Points - OceanPal Inc. has received notification from Nasdaq regarding non-compliance with the minimum bid price requirement of US$1.00 per share for continued listing on The Nasdaq Capital Market [1] - The company has a grace period of 180 days, until October 14, 2025, to regain compliance by maintaining a closing bid price of US$1.00 or higher for at least ten consecutive business days [2] - The company's business operations remain unaffected by the notification, and its common stock will continue to be listed and traded on The Nasdaq Capital Market during the grace period [3] Company Overview - OceanPal Inc. is a global provider of shipping transportation services, focusing on the ownership and operation of dry bulk vessels and product tankers [4] - The company engages in the seaborne transportation of bulk commodities such as iron ore, coal, and grain, as well as refined petroleum products [4] - OceanPal's fleet primarily operates on time charter trips with short to medium duration and spot charters, aiming to maximize long-term shareholder value [4]