Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 317

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 317
---
2023,

the

Company
distributed the Company’s investment in the Series

D Preferred Shares of OceanPal in

the form of a stock
dividend amounting to $
10,761, or $
0.10
per share, to its shareholders of record as of April 24, 2023.
h)

Warrants:
On December 14, 2023, the Company distributed
22,613,070
warrants to its shareholders
of

record

on

December

6,

2023.

Holders

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 of

$
4
per warrant,
one
share of common stock plus a

bonus share
fraction. A bonus share fraction entitles a holder to receive

an additional part of a share of common stock
for each

warrant exercised

without payment

of any

additional exercise

price. In

2023,
no
warrants were
exercised.
In

2024,

the

Company

issued
9,837,680
shares

of

common

stock,

having

a

value

of

$
28,047,

net

of
expenses, or $
2.86
per share, upon the exercise of
6,392,765
warrants issued in 2023 and distributed as
dividend to

the Company’s

shareholders. The

Company received $
24,195
in proceeds,

net of

fees, from
the

exercise of

warrants. If

all

warrants were

exercised as

of

December 31,

2024, the

Company would
have issued
36,369,395
shares of

common stock

with a

fair value

of $
80,049
and would

have received
$
90,452
of

gross

proceeds.

The

warrants

were

measured

on

the

date

of

distribution

at

fair

value,
determined through

Level 1

account hierarchy,

being the

opening price

of the

w