$SVRN

SVRN, Inc. (NASDAQ: SVRN) completed its corporate transformation, changing its name from OceanPal Inc. The company holds 55.5 million NEAR tokens and launched a dashboard to track its digital asset treasury and staking positions. SVRN sold its shipping business, retired all Series C preferred stock, and eliminated debt. The company aims to accumulate 10% of the NEAR token supply and drive commercial adoption of the protocol.

OceanPal (Nasdaq: OCEA) said it sold its entire interest in OP Vessel Holdco to Sezali Inc, an affiliate of former chair Semiramis Paliou, on July 31. The deal covered four vessels and a stake in RFSea Infrastructure II, with no cash paid. OceanPal cancelled Series C preferred shares and $5m notes. OceanPal is pivoting to crypto and AI, holding NEAR tokens.

OceanPal said it sold its entire interest in shipowning subsidiary OP Vessel Holdco to Sezali Inc, an affiliate of former chairwoman and current Diana Shipping CEO Semiramis Paliou, on July 31. The deal transfers vessels including Panamax bulk carriers Calipso and Melia, MR2 tanker Zeze Start, and OceanPal’s RFSea Infrastructure II stake. No cash changed hands; OceanPal’s Series C preferred shares and $5m notes were cancelled.

OceanPal, the US-listed shipping firm, completed on 31 July the sale of its remaining vessel-holding subsidiary OP Vessel Holdco LLC to Sezali Inc, an affiliate of former chair Semiramis Paliou. OceanPal received 12,185 shares of its 8.0% Series C preferred stock and cancellation of US$5M promissory notes. It now runs only SovereignAI to monetize NEAR Protocol, and Paliou’s stake fell to 3.74% per an Aug 4 SEC filing.

OceanPal Inc. (NASDAQ: SVRN) said it completed July 31, 2026 sale of its vessel-holding subsidiary OP Vessel Holdco LLC to Sezali Inc. Consideration was cancellation of all 12,185 shares of 8.0% Series C preferred stock and cancellation of $5.0 million promissory notes. The deal retires Series C, leaves no debt for borrowed money, and leaves SovereignAI Services LLC as the sole operating business.

OceanPal Inc. (NASDAQ:SVRN) shares fell 4.7% in after-hours trading after receiving a Nasdaq delisting notification. The warning was issued due to the company's failure to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2025. OceanPal has until July 20, 2026, to submit a compliance plan and intends to resolve the matter promptly.

OceanPal Inc. (SVRN) has delayed its Annual Report on Form 20-F for 2025 due to complexities arising from its strategic transformation into a digital asset treasury vehicle. This pivot involves holding NEAR Protocol native tokens and introduces new accounting challenges related to digital asset valuation, custody, and staking rewards. The company anticipates significant changes in its 2025 operating results, shifting from shipping revenues to digital asset income and related expenses.

OceanPal Inc.'s Co-Chief Executive Officer and director, Salvatore J. Ternullo, recently purchased 500 shares of the company's Common Stock through an open-market transaction. Each share was acquired at a price of $10.88, establishing his direct ownership of 500 shares. This transaction reflects a small personal investment by the insider, totaling $5,440.

OceanPal Inc. has filed Articles of Amendment with the Registrar of Corporations of the Republic of the Marshall Islands on March 27, 2026, to formally implement its recent reverse stock split. This action is reported via a Form 6-K filing, and the information is incorporated by reference into the company's existing Form F-3 registration statements. The filing ensures that OceanPal's offering documents reflect its updated capital structure following the reverse split.