Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 77

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 4
Chunk 77
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 on the

terms and conditions described in the Warrant Agreement (as defined below and attached as exhibit 2.10

to this

annual report). Each

holder received one

Warrant for

every five shares

of issued and

outstanding

shares of common stock held as of the

Record Date (rounded down to the nearest whole number for

any

fractional

Warrant).

Each

Warrant

entitles

the

holder

to

purchase,

at

the

holder’s

sole

and

exclusive

election,

at

the

exercise

price,

one

share

of

common

stock,

subject

to

adjustments,

plus

to

the

extent

described

below,

the

Bonus

Share

Fraction.

A

Bonus

Share

Fraction

entitles

a

holder

to

receive

an

additional 0.5 of

a share

of common stock

for each Warrant

exercised (the

“ Bonus Share Fraction”)

without

payment of

any additional

exercise price,

also subject

to adjustments.

Since the

dividend ex-Date

on March

12, 2025, each

Warrant entitles the

holder to purchase 1.09653

shares of common stock

plus the Bonus

Share Fraction adjusted to 0.54827 of a share of common stock

for each Warrant exercised.

The right

to receive

the Bonus

Share Fraction

will expire

at 5:00

p. m. New

York City time (the

“ Bonus Share

Expiration Date”) upon

the earlier of (i)

the date specified

by the Registrant

upon not less than

20 business

days’

notice

and

(ii)

the

first

business

day

following

the

last

day

of

the

first

30

consecutive trading

day

period

in

which

the

daily

VWAP

of

the

shares

of

common

stock

has

been

at

least

equal

to

the

then

applicable

trigger

price

for

at

least

20

trading

days

(whether

or

not

consecutive)

(the

“ Bonus

Price

Condition”). Any Warrant

exercised with an

exercise date after

the Bonus Share

Expiration Date will

not be

entitled to any Bonus Share

Fraction. The