Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 67

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 67
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 Memorandum and Articles of Association-Stockholders Rights

Agreement.”

These

anti-takeover

provisions,

including

provisions

of

our

Stockholders

Rights

Agreement,

could

substantially impede the ability of public shareholders to benefit from a change in control and, as a result,

may adversely affect the

market price of our

common stock and

your ability to

realize any potential

change

of control premium.

Our Series B Preferred Shares

are senior obligations of ours

and rank prior to our common

shares

with

respect

to

dividends,

distributions

and

payments

upon

liquidation,

which

could

have

an

adverse effect on the value of our common shares.

The rights of the holders

of our Series B Preferred Shares

rank senior to the obligations to

holders of our

common shares. Upon our liquidation, the holders of Series

B Preferred Shares will be entitled to receive

a liquidation preference

of $25.00 per share,

plus all accrued but

unpaid dividends, prior and

in preference

to any distribution to the holders of any other class of our equity securities, including our common shares.

The existence of the Series B Preferred

Shares could have an adverse effect on the value

of our common

shares.

40

Risks Relating to Our Series B Preferred Stock

We may not have

sufficient cash from our operations to

enable us to pay dividends on

our Series

B Preferred Shares following the payment of expenses and the establishment

of any reserves.

We

pay quarterly

dividends on

our Series

B Preferred

Shares only

from funds

legally available

for such

purpose when,

as and

if

declared by

our board

of

directors. We

may

not have

sufficient

cash available

each

quarter to

pay dividends.

The amount

of

dividends we

can pay

on our

Series B

Preferred Shares

depends upon the amount of cash we generate from and use in our

operations, which may fluctuate.

The

amount of

cash we

have

available for

dividends on

our Series

B Preferred

Shares will

not

depend

solely on our

profitability. The

actual amount of cash

we have available to

pay dividends on our

Series B

Preferred Shares depends on many factors, including

the following:

●