Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 71

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 71
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 carrying full voting rights. Holders of Series B Preferred

Shares have

no voting

rights other

than the

ability,

subject to

certain exceptions,

to elect

one director

if

dividends for six

quarterly dividend

periods (whether

or not consecutive)

payable on

our Series B

Preferred

Shares are in arrears and certain other limited protective voting

rights.

Our

ability

to

pay

dividends

on

and

to

redeem

our

Series

B

Preferred

Shares

is

limited

by

the

requirements of Marshall Islands law.

Marshall Islands

law provides that

we may

pay dividends on

and redeem the

Series B

Preferred Shares

only to the

extent that assets

are legally available

for such purposes.

Legally available

assets generally

are

limited to our surplus, which essentially represents our retained earnings

and the excess of consideration

received by us for

the sale of shares

above the par value

of the shares. In

addition, under Marshall

Islands

42

law we

may not

pay dividends

on or

redeem Series

B Preferred

Shares if

we are

insolvent or

would be

rendered insolvent by the payment of such a dividend or the making

of such redemption.

The amount of your

liquidation preference is

fixed and you will

have no right

to receive any greater

payment regardless of the circumstances.

The

payment

due

upon

liquidation

is

fixed

at

the

redemption

preference

of

$25.00

per

share

plus

accumulated and

unpaid dividends

to

the

date

of

liquidation. If,

in the

case of

our

liquidation, there

are

remaining

assets

to

be distributed

after

payment

of

this

amount,

you

will

have

no right

to

receive

or

to

participate in these

amounts. Furthermore,

if the market

price for your

Series B Preferred

Shares is greater

than

the

liquidation

preference,

you

will

have

no

right

to

receive

the

market

price

from

us

upon

our

liquidation.

Risks Relating to Our Outstanding Warrants

The issuance

of our

common stock

upon the