OceanPal slides on pricing share offering at a discount

OceanPal

21/01/2022 11:42

** Shares of shipping co OceanPal Inc  OP.O  down 41.5% at
~69 cents premarket after co priced a $11.9 mln public share
offering at a discount
    ** OP priced the sale of 15.57 mln units, composed of one
common share and one Class A warrant, at 77 cents per share
    ** Offering is at a discount of ~35% to OP's Thursday close
of $1.18
    ** Existing shareholders are offering an additional 628,571
shares in the offering, proceeds from which will no go to the co
    ** Proceeds from the offering will be used for general
corporate purposes, including the purchase of vessels in the
future
    ** Offering is expected to close on or around Jan. 25
    ** As of last close, OP down 41.9% YTD 

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))