# EDGAR Filing Document

**Accession Number:** 0001702202
**File Stem:** 0001553350-23-000097
**Filing Date:** 2023-2
**Character Count:** 11636
**Document Hash:** 34713e342ed52ddb295656baee751030
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001553350-23-000097.hdr.sgml**: 20230209

**ACCESSION NUMBER**: 0001553350-23-000097

**CONFORMED SUBMISSION TYPE**: SC 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230209

**DATE AS OF CHANGE**: 20230209

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Performance Shipping Inc.
- **CENTRAL INDEX KEY:** 0001481241
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** 1T
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-86020
- **FILM NUMBER:** 23607201

**BUSINESS ADDRESS:**
- **STREET 1:** 373 SYNGROU AVE.
- **STREET 2:** 17564 PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 00000
- **BUSINESS PHONE:** 302166002400

**MAIL ADDRESS:**
- **STREET 1:** 373 SYNGROU AVE.
- **STREET 2:** 17564 PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 00000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Diana Containerships Inc.
- **DATE OF NAME CHANGE:** 20100115
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** L1 Capital Global Opportunities Master Fund, Ltd.
- **CENTRAL INDEX KEY:** 0001702202
- **IRS NUMBER:** 981241877
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 161A SHEDDEN ROAD ONE ARTILLERY COURT
- **STREET 2:** P.O. BOX 10085
- **CITY:** GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-1001
- **BUSINESS PHONE:** 646-688-5654

**MAIL ADDRESS:**
- **STREET 1:** 161A SHEDDEN ROAD ONE ARTILLERY COURT
- **STREET 2:** P.O. BOX 10085
- **CITY:** GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-1001

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**SCHEDULE 13G**

**Amendment No. 1**

**Under the Securities Exchange Act of 1934**

---

| |
|:---|
| Performance Shipping Inc. |
| (Name of Issuer) |
| Common Stock, $0.01 par value |
| (Title of Class of Securities) |
| Y67305105 |
| (CUSIP Number) |
| December 31, 2022 |
| (Date of Event Which Requires Filing of this Statement) |

---

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☒ Rule 13d-1(c)

☐ Rule 13d-1(d)

\*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities and Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. Y67305105 13G Page 2 of 5 Pages

---

| | | | |
|:---|:---|:---|:---|
| **1** | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS | NAME OF REPORTING PERSONS |
|  | L1 Capital Global Opportunities Master Fund Ltd. | L1 Capital Global Opportunities Master Fund Ltd. | L1 Capital Global Opportunities Master Fund Ltd. |
| **2** | CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP |
|  | <br> (a) ☐ | <br> (a) ☐ | <br> (a) ☐ |
|  | (b) ☐ | (b) ☐ | (b) ☐ |
| **3** | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| **4** | CITIZENSHIP OR PLACE OF ORGANIZATION | CITIZENSHIP OR PLACE OF ORGANIZATION | CITIZENSHIP OR PLACE OF ORGANIZATION |
|  | **Cayman Islands** | **Cayman Islands** | **Cayman Islands** |
|  |  | **5** | SOLE VOTING POWER |
|  |  |  | 201,955 shares of Common Stock(1) |
| **NUMBER OF** | **NUMBER OF** | **6** | SHARED VOTING POWER |
| **SHARES** | **SHARES** |  |  |
| **BENEFICIALLY** | **BENEFICIALLY** |  | 0 |
| **OWNED BY** | **OWNED BY** | **7** | SOLE DISPOSITIVE POWER |
| **EACH REPORTING** | **EACH REPORTING** |  |  |
| **PERSON WITH** | **PERSON WITH** |  | 201,955 shares of Common Stock(1) |
|  |  | **8** | SHARED DISPOSITIVE POWER |
|  |  |  | 0 |
| **9** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
|  | 201,955 shares of Common Stock(2) | 201,955 shares of Common Stock(2) | 201,955 shares of Common Stock(2) |
| **10** | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |
|  | <br> ☐ | <br> ☐ | <br> ☐ |
| **11** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
|  | 4.99% (2)(3) | 4.99% (2)(3) | 4.99% (2)(3) |
| **12** | TYPE OF REPORTING PERSON | TYPE OF REPORTING PERSON | TYPE OF REPORTING PERSON |
|  | <br> FI (4) | <br> FI (4) | <br> FI (4) |

---

(1) David
 Feldman and Joel Arber are both the directors of L1 Capital Global Opportunities Master Fund
 Ltd. As such they each individually have sole dispositive and voting power.

(2) The
 total number of shares of Common Stock owned by L1 Capital Global Opportunities Master Funds
 Ltd. includes 13,333 shares of common stock issuable upon exercise of warrants exercisable
 at $15.75 per share which expire on June 1, 2027 (the "June 2027 Warrants"),
 88,622 shares of common stock issuable upon exercise of warrants exercisable at $3.51 per
 share which expire on August 16, 2027 (the "August 2027 Warrants"), and 100,000
 shares of common stock issuable upon exercise of warrants exercisable at $3.51 per share
 which expire January 20, 2028 (the "January 2028 Warrants"). The June 2027 Warrants,
 August 2028 Warrants and January 2028 Warrants are subject to 4.99% beneficial ownership
 limitations. The total number of shares does not include 160,896 shares issuable upon exercise
 of the August 2027 Warrants. The shares of common stock reflect the Company's 15-for-1
 reverse stock split effective November 15, 2022.

(3) Based
 on 4,047,209 shares of common stock reported to be outstanding as of December 9, 2022, as
 reported in the Issuer's Prospectus Supplement filed with the Securities and Exchange
 Commission on December 9, 2022.

(4) The
 reporting person has not acquired the securities with any purpose, or with the effect, of
 changing or influencing the control of the Issuer, or in connection with or as a participant
 in any transaction having that purpose or effect, including any transaction subject to Rule
 13d-3(b), other than activities solely in connection with a nomination under Rule 14a-11.

CUSIP No. Y67305105 13G Page 3 of 5 Pages

**Item 1. Security and Issuer.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** **Name of Issuer:** 

Performance Shipping Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** **Address of Issuer:** 

373 Syngrou Avenue, 175 64 Palaio Faliro, Athens, Greece

**Item 2. Identity and Background.**

---

| | |
|:---|:---|
| **(a)** | **Name of Person Filing:** |
|  | L1 Capital Global Opportunities Master Fund, Ltd. |
| **(b)** | **Address of Principal Business Office or, if none, Residence:** |
|  | 161A Shedden Road, 1 Artillery Court<br> PO Box 10085<br> Grand Cayman, Cayman Islands KY1-1001 |
| **(c)** | **Citizenship or Place of Organization:** |
|  | Cayman Islands |
| **(d)** | **Title of Class of Securities:** |
|  | Common Stock, $0.01 par value |
| **(e)** | **CUSIP Number:** |
|  | Y67305105 |

---

**Item 3.**

Not applicable.

CUSIP No. Y67305105 13G Page 4 of 5 Pages

**Item 4. Ownership.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The information required
 by Items 4(a)-(c) is set forth in Rows (5)-(9) and Row (11) of the cover page and is incorporated herein by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The percentage set forth
 on Row (11) of the cover page for the reporting person is based on 4,047,209 shares of Common Stock outstanding as of December 9,
 2022, as reported in the Issuer's Prospectus Supplement filed with the Securities and Exchange Commission on December 9, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) David Feldman and Joel
 Arber are the Directors of L1 Capital Global Opportunities Master Fund Ltd. As such, L1 Capital Global Opportunities Master Fund
 Ltd, Mr. Feldman and Mr. Arber may be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Securities
 Exchange Act of 1934) 201,955 shares of Common Stock. To the extent Mr. Feldman and Mr. Arber are deemed to beneficially own such
 shares, Mr. Feldman and Mr. Arber disclaim beneficial ownership of these securities for all other purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The total number of shares
 of Common Stock owned by L1 Capital Global Opportunities Master Funds Ltd. includes 13,333 shares of common stock issuable upon exercise
 of warrants exercisable at $15.75 per share which expire on June 1, 2027 (the "June 2027 Warrants"), 88,622 shares of
 common stock issuable upon exercise of warrants exercisable at $3.51 per share which expire on August 16, 2027 (the "August
 2027 Warrants"), and 100,000 shares of common stock issuable upon exercise of warrants exercisable at $3.51 per share which
 expire January 20, 2028 (the "January 2028 Warrants"). The June 2027 Warrants, August 2028 Warrants and January 2028
 Warrants are subject to 4.99% beneficial ownership limitations. The total number of shares does not include 160,896 shares
 issuable upon exercise of the August 2027 Warrants due to the 4.99% beneficial ownership limitations.. The shares of common stock
 reflect the Company's 15-for-1 reverse stock split effective November 15, 2022.

**Item 5.** **Ownership of 5 Percent or Less of a Class.** <br>If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following ☒<br>

**Item 6.** **Ownership of More than 5 Percent on Behalf of Another Person.**

Not applicable.

**Item 7.** **Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.**

Not applicable.

**Item 8.** **Identification and Classification of Members of the Group.**

Not applicable.

**Item 9.** **Notice of Dissolution of Group.**

Not applicable.

**Item 10.** **Certifications.**<br>

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the Issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

CUSIP No. Y67305105 13G Page 5 of 5 Pages

**SIGNATURES**

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct.

---

| | | |
|:---|:---|:---|
|  | By: | L1 Capital Global Opportunities Master Fund Ltd. |
| February 9, 2023 | By: | */s/* David Feldman |
|  |  | David Feldman, Director |

---