ATHENS, Greece, May 22, 2026 /PRNewswire/ -- OceanPal Inc. (NASDAQ:SVRN) (the &#34;Company&#34; or &#34;OceanPal&#34;) today announced that on May 19, 2026 it received a delinquency notification letter (the

<p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">ATHENS, Greece</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">May 22, 2026</span> /PRNewswire/ -- OceanPal Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SVRN">SVRN</a>) (the &#34;Company&#34; or &#34;OceanPal&#34;) today announced that on May 19, 2026 it received a delinquency notification letter (the &#34;Notification&#34;) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (&#34;Nasdaq&#34;) regarding the Company&#39;s non-compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the Company&#39;s not having timely filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 (the &#34;Form 20-F&#34;).</p>
<p xmlns="http://www.w3.org/1999/xhtml">The Notification has no immediate effect on the listing or trading of the Company&#39;s common shares on the Nasdaq Capital Market, which trades under the symbol &#34;SVRN.&#34; Pursuant to the Notification, the Company has 60 calendar days from the date of receipt, or until July 20, 2026, to submit a plan to Nasdaq to regain compliance. If Nasdaq accepts the Company&#39;s plan, Nasdaq may grant the Company an exception of up to 180 calendar days from the Form 20-F&#39;s original due date, or until October 27, 2026, to regain compliance. The Company intends to resolve the issue in a timely fashion which may include the submission compliance plan to Nasdaq prior to the deadline.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">About OceanPal Inc.</b></p><p xmlns="http://www.w3.org/1999/xhtml">OceanPal Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SVRN">SVRN</a>) is a diversified operating company that combines global shipping transportation services with a <span xmlns="http://www.w3.org/1999/xhtml">digital asset</span> treasury strategy anchored in the NEAR Protocol blockchain. Through its wholly-owned subsidiary SovereignAI Services LLC, the Company operates the first publicly traded NEAR Protocol treasury, accumulating NEAR tokens, generating yield through institutional staking, and offering investors regulated public market exposure to the NEAR ecosystem. The Company&#39;s maritime division owns and operates a fleet of three vessels—two Panamax dry bulk carriers and one MR2 product tanker—engaged in the seaborne transportation of bulk commodities including iron ore, coal, and grain, as well as refined petroleum products. OceanPal is focused on compounding long-term shareholder value through disciplined capital allocation across both business segments.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b></p><p xmlns="http://www.w3.org/1999/xhtml">Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Forward-looking statements may be identified by the use of words such as &#34;expect,&#34; &#34;intend,&#34; &#34;plan,&#34; &#34;anticipate,&#34; &#34;believe,&#34; &#34;will,&#34; and similar expressions. These statements include, but are not limited to, statements regarding the Company&#39;s intent and ability to submit a compliance plan to Nasdaq on or before July 20, 2026; the Company&#39;s ability to regain compliance with Nasdaq Listing Rule 5250(c)(1) within the timeframes described in the Notification; the timing of the Company&#39;s filing of its Form 20-F; and the continued listing of the Company&#39;s common shares on the Nasdaq Capital Market.</p><p xmlns="http://www.w3.org/1999/xhtml">These forward-looking statements are based on current expectations, estimates, assumptions, and projections and involve known and unknown risks, uncertainties, and other factors—many of which are beyond OceanPal&#39;s and SVRN&#39;s control—that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, Nasdaq&#39;s acceptance or rejection of any compliance plan submitted by the Company; SVRN&#39;s ability to execute its growth strategy; its ability to raise and deploy capital effectively; developments in technology and the competitive landscape; the market performance of NEAR; changes in governmental rules and regulations or actions taken by regulatory authorities with respect to both maritime and <span xmlns="http://www.w3.org/1999/xhtml">digital asset</span> activities; general domestic and international political conditions and related sanctions; potential disruption of shipping routes due to accidents or political events, including the escalation of the conflict in the Middle East; vessel breakdowns and instances of off-hires; and other risks and uncertainties described under &#34;Risk Factors&#34; in OceanPal&#39;s Annual Report on Form 20-F filed with the SEC on April 15, 2025, and in subsequent filings with the SEC, available at <a xmlns="http://www.w3.org/1999/xhtml" href="https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4693471-1&amp;h=1484140129&amp;u=https%3A%2F%2Fwww.sec.gov%2F&amp;a=www.sec.gov" target="_blank" rel="nofollow">www.sec.gov</a>. OceanPal and SVRN undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.</p>



<p xmlns="http://www.w3.org/1999/xhtml" id="PURL"><img xmlns="http://www.w3.org/1999/xhtml" title="Cision" width="12" height="12" alt="Cision" src="https://edge.prnewswire.com/c/img/favicon.png?sn=DC64570&amp;sd=2026-05-22"></img> View original content:<a xmlns="http://www.w3.org/1999/xhtml" id="PRNURL" rel="nofollow" href="https://www.prnewswire.com/news-releases/oceanpal-inc-receives-nasdaq-notification-regarding-late-filing-of-form-20-f-302780169.html" target="_blank">https://www.prnewswire.com/news-releases/oceanpal-inc-receives-nasdaq-notification-regarding-late-filing-of-form-20-f-302780169.html</a></p><p xmlns="http://www.w3.org/1999/xhtml">SOURCE OceanPal Inc.</p>

SVRN

OceanPal Inc. Receives Nasdaq Notification Regarding Late Filing of Form 20-F

OceanPal Faces Nasdaq Compliance Deadline Following Late Filing

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>ATHENS, Greece, May 22, 2026 /PRNewswire/ -- OceanPal Inc. (NASDAQ:SVRN) (the &amp;#34;Company&amp;#34; or &amp;#34;OceanPal&amp;#34;) today announced that on May 19, 2026 it received a delinquency notification letter (the</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>OceanPal Inc. received a notification from Nasdaq regarding non-compliance due to late filing of its Annual Report. The company has a deadline of July 20, 2026, to submit a compliance plan, which could affect its ability to remain listed if not resolved timely.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>OceanPal received a non-compliance notification from Nasdaq for late filings.</li><li>The company must file a compliance plan by July 20, 2026.</li><li>If accepted, they may have until October 27, 2026 to regain compliance.</li><li>The notification does not affect current trading status of SVRN.</li><li>Company is focused on compounding long-term shareholder value.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>OceanPal Inc. (SVRN)</strong>: Current non-compliance may impact share price and trading status.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This fits under &#039;Corporate Developments&#039; as it directly addresses a regulatory compliance issue impacting OceanPal&#039;s market standing and future operations.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Late filing may impact investor confidence and trading volume.</li><li>Failure to regain compliance can lead to delisting, impacting share price.</li><li>Positive resolution of compliance may stabilize or increase stock value.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>OceanPal received the notification on May 19, 2026.</li><li>Deadline to submit compliance plan is July 20, 2026.</li><li>Possible extension to regain compliance could last until October 27, 2026.</li><li>SVRN operates in global shipping and digital asset treasury services.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Investors should monitor compliance developments; non-compliance may lead to price volatility.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">ATHENS, Greece</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">May 22, 2026</span> /PRNewswire/ -- OceanPal Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SVRN">SVRN</a>) (the &#34;Company&#34; or &#34;OceanPal&#34;) today announced that on May 19, 2026 it received a delinquency notification letter (the &#34;Notification&#34;) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (&#34;Nasdaq&#34;) regarding the Company&#39;s non-compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the Company&#39;s not having timely filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 (the &#34;Form 20-F&#34;).</p>
<p xmlns="http://www.w3.org/1999/xhtml">The Notification has no immediate effect on the listing or trading of the Company&#39;s common shares on the Nasdaq Capital Market, which trades under the symbol &#34;SVRN.&#34; Pursuant to the Notification, the Company has 60 calendar days from the date of receipt, or until July 20, 2026, to submit a plan to Nasdaq to regain compliance. If Nasdaq accepts the Company&#39;s plan, Nasdaq may grant the Company an exception of up to 180 calendar days from the Form 20-F&#39;s original due date, or until October 27, 2026, to regain compliance. The Company intends to resolve the issue in a timely fashion which may include the submission compliance plan to Nasdaq prior to the deadline.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">About OceanPal Inc.</b></p><p xmlns="http://www.w3.org/1999/xhtml">OceanPal Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SVRN">SVRN</a>) is a diversified operating company that combines global shipping transportation services with a <span xmlns="http://www.w3.org/1999/xhtml">digital asset</span> treasury strategy anchored in the NEAR Protocol blockchain. Through its wholly-owned subsidiary SovereignAI Services LLC, the Company operates the first publicly traded NEAR Protocol treasury, accumulating NEAR tokens, generating yield through institutional staking, and offering investors regulated public market exposure to the NEAR ecosystem. The Company&#39;s maritime division owns and operates a fleet of three vessels—two Panamax dry bulk carriers and one MR2 product tanker—engaged in the seaborne transportation of bulk commodities including iron ore, coal, and grain, as well as refined petroleum products. OceanPal is focused on compounding long-term shareholder value through disciplined capital allocation across both business segments.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b></p><p xmlns="http://www.w3.org/1999/xhtml">Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Forward-looking statements may be identified by the use of words such as &#34;expect,&#34; &#34;intend,&#34; &#34;plan,&#34; &#34;anticipate,&#34; &#34;believe,&#34; &#34;will,&#34; and similar expressions. These statements include, but are not limited to, statements regarding the Company&#39;s intent and ability to submit a compliance plan to Nasdaq on or before July 20, 2026; the Company&#39;s ability to regain compliance with Nasdaq Listing Rule 5250(c)(1) within the timeframes described in the Notification; the timing of the Company&#39;s filing of its Form 20-F; and the continued listing of the Company&#39;s common shares on the Nasdaq Capital Market.</p><p xmlns="http://www.w3.org/1999/xhtml">These forward-looking statements are based on current expectations, estimates, assumptions, and projections and involve known and unknown risks, uncertainties, and other factors—many of which are beyond OceanPal&#39;s and SVRN&#39;s control—that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, Nasdaq&#39;s acceptance or rejection of any compliance plan submitted by the Company; SVRN&#39;s ability to execute its growth strategy; its ability to raise and deploy capital effectively; developments in technology and the competitive landscape; the market performance of NEAR; changes in governmental rules and regulations or actions taken by regulatory authorities with respect to both maritime and <span xmlns="http://www.w3.org/1999/xhtml">digital asset</span> activities; general domestic and international political conditions and related sanctions; potential disruption of shipping routes due to accidents or political events, including the escalation of the conflict in the Middle East; vessel breakdowns and instances of off-hires; and other risks and uncertainties described under &#34;Risk Factors&#34; in OceanPal&#39;s Annual Report on Form 20-F filed with the SEC on April 15, 2025, and in subsequent filings with the SEC, available at <a xmlns="http://www.w3.org/1999/xhtml" href="https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4693471-1&amp;h=1484140129&amp;u=https%3A%2F%2Fwww.sec.gov%2F&amp;a=www.sec.gov" target="_blank" rel="nofollow">www.sec.gov</a>. OceanPal and SVRN undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.</p>



<p xmlns="http://www.w3.org/1999/xhtml" id="PURL"><img xmlns="http://www.w3.org/1999/xhtml" title="Cision" width="12" height="12" alt="Cision" src="https://edge.prnewswire.com/c/img/favicon.png?sn=DC64570&amp;sd=2026-05-22"></img> View original content:<a xmlns="http://www.w3.org/1999/xhtml" id="PRNURL" rel="nofollow" href="https://www.prnewswire.com/news-releases/oceanpal-inc-receives-nasdaq-notification-regarding-late-filing-of-form-20-f-302780169.html" target="_blank">https://www.prnewswire.com/news-releases/oceanpal-inc-receives-nasdaq-notification-regarding-late-filing-of-form-20-f-302780169.html</a></p><p xmlns="http://www.w3.org/1999/xhtml">SOURCE OceanPal Inc.</p>

OceanPal Inc. received a notification from Nasdaq regarding non-compliance due to late filing of its Annual Report. The company has a deadline of July 20, 2026, to submit a compliance plan, which could affect its ability to remain listed if not resolved timely.

OceanPal Inc. Receives Nasdaq Notification Regarding Late Filing of Form 20-F

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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