OceanPal Inc. Announces Entry Into Agreement to Acquire Capesize Dry Bulk Vessel
ATHENS, Greece, June 15, 2022 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ:OP) (the "Company"), a global shipping company specializing in the ownership of vessels, today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement dated June 13, 2022, to acquire the m/v Baltimore from Diana Shipping Inc., a related party of the Company, for an aggregate purchase price of $22.0 million. Of the purchase price, 20% was paid in cash upon the signing of the Memorandum of Agreement and the remaining 80% is expected to be paid upon delivery of the vessel to OceanPal in the form of shares of a new series of the Company's preferred stock, the terms of which will
