# EDGAR Filing Document

**Accession Number:** 0001869467
**File Stem:** 0000919574-25-007338
**Filing Date:** 2025-12
**Character Count:** 11850
**Document Hash:** 018f2869690fb0aa887eb5f0acfeaa53
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-007338.hdr.sgml**: 20251211

**ACCESSION NUMBER**: 0000919574-25-007338

**CONFORMED SUBMISSION TYPE**: SC TO-I/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251211

**DATE AS OF CHANGE**: 20251211

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OceanPal Inc.
- **CENTRAL INDEX KEY:** 0001869467
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** 1T
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC TO-I/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93136
- **FILM NUMBER:** 251565666

**BUSINESS ADDRESS:**
- **STREET 1:** PENDELIS 26
- **STREET 2:** PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 175 64
- **BUSINESS PHONE:** 30-210-9485-360

**MAIL ADDRESS:**
- **STREET 1:** PENDELIS 26
- **STREET 2:** PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 175 64
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OceanPal Inc.
- **CENTRAL INDEX KEY:** 0001869467
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** 1T
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC TO-I/A

**BUSINESS ADDRESS:**
- **STREET 1:** PENDELIS 26
- **STREET 2:** PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 175 64
- **BUSINESS PHONE:** 30-210-9485-360

**MAIL ADDRESS:**
- **STREET 1:** PENDELIS 26
- **STREET 2:** PALAIO FALIRO
- **CITY:** ATHENS
- **STATE:** J3
- **ZIP:** 175 64

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### SCHEDULE TO

#### (Amendment No. 1)

#### TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)

#### OF THE SECURITIES EXCHANGE ACT OF 1934

### OCEANPAL, INC.

#### (Name of Subject Company (Issuer))

#### OCEANPAL, INC., AS ISSUER

#### (Name of Filing Persons (Identifying status as offeror, issuer, or other person))

#### 7.0% Series D Cumulative Convertible Perpetual Preferred Stock, Par Value $0.01 per share

#### (Title of Class of Securities)

#### N/A

#### (CUSIP Number of Class of Securities)

#### Margarita Veniou

#### OceanPal Inc.

#### Pendelis 26, 175 64 Palaio Faliro, Athens, Greece

#### Tel: + 30-210-9485-360
**(Name, address and telephone number of person authorized to receive notices and communications on behalf of filing person)** <br>

#### Copies to:

#### Edward S. Horton, Esq.

#### Seward & Kissel LLP

#### One Battery Park Plaza

#### New York, New York 10004

☐ Check the box if filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:<br>

---

| | | | |
|:---|:---|:---|:---|
| ☐ | ☐ | third-party tender offer subject to Rule 14d-1. | third-party tender offer subject to Rule 14d-1. |
| ☒ | ☒ | ☒ | issuer tender offer subject to Rule 13e-4. |
| ☐ | going-private transaction subject to Rule 13e-3. | going-private transaction subject to Rule 13e-3. | going-private transaction subject to Rule 13e-3. |
| ☐ | amendment to Schedule 13D under Rule 13d-2. | amendment to Schedule 13D under Rule 13d-2. | amendment to Schedule 13D under Rule 13d-2. |

---

Check the following box if the filing is a final amendment reporting the results of the tender offer: ☐

If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:

☐ Rule 13e-4(i) (Cross-Border Issuer Tender Offer) <br> ☐ Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)

------

#### SCHEDULE TO

This Amendment No. 1 (this "Amendment No. 1") amends and supplements the Tender Offer Statement on Schedule TO originally filed by OceanPal, Inc., a Marshall Islands corporation ("OceanPal" or the "Company"), with the Securities and Exchange Commission ("SEC") on December 3, 2025 (the "Schedule TO"). The Schedule TO relates to the offer by the Company to purchase for cash any and all outstanding shares of its 7.0% Series D Cumulative Convertible Perpetual Preferred Stock, par value $0.01 per share, with a $1,000 liquidation preference per share, (the "Series D Preferred Shares" or the "shares"), at a price of $1,400 per share, plus accrued dividends, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated December 3, 2025 (as it may be amended or supplemented from time to time, the "Offer to Purchase") and in the accompanying Letter of Transmittal (as it may be amended or supplemented from time to time, the "Letter of Transmittal," and which together with the Offer to Purchase, constitutes the "Offer"), copies of which were filed as Exhibits (a)(1)(A) and (a)(1)(B), respectively, to the Schedule TO.

The purpose of this Amendment No. 1 is to amend and supplement the Schedule TO to attach the Company's press release dated December 11, 2025 as exhibit (a)(1)(D) to disclose the accrued dividend payment. Except as specifically provided herein, the information contained in the Schedule TO, the Offer to Purchase and the Letter of Transmittal remains unchanged and this Amendment No. 1 does not modify any of the information previously reported on Schedule TO and in the Offer to Purchase or the Letter of Transmittal. You should read this Amendment No. 1 together with the Schedule TO, the Offer to Purchase and the Letter of Transmittal.

------

#### SIGNATURE
After due 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.

---

| | |
|:---|:---|
| **OCEANPAL, INC.** | **OCEANPAL, INC.** |
| By: | /s/ Robert Perri |
|  | Name: Robert Perri |
|  | Title: Co-Chief Executive Officer<br>Date: December 11, 2025 |

---

------

EXHIBIT INDEX

---

| | | |
|:---|:---|:---|
| (a) | (a)(1)(A)\*\* | [Offer to Purchase dated December 3, 2025.](https://www.sec.gov/Archives/edgar/data/1869467/000091957425007223/d12035131_ex99-a1a.htm) |
|  | (a)(1)(B)\*\* | [Letter of Transmittal.](https://www.sec.gov/Archives/edgar/data/1869467/000091957425007223/d12038889_ex99-a1b.htm) |
|  | (a)(1)(C)\*\* | [Press Release dated December 3, 2025.](https://www.sec.gov/Archives/edgar/data/1869467/000091957425007223/d12035131_ex99-a1c.htm) |
|  | (a)(1)(D)\* | [Press Release dated December 11, 2025.](d12057237_ex99-a1d.htm) |
|  | (a)(2) | Not Applicable. |
|  | (a)(3) | Not Applicable. |
|  | (a)(4) | Not Applicable. |
|  | (a)(5) | Not Applicable. |
|  | (b) | Not Applicable. |
|  | (d)(1) | [Amended and Restated Stockholders Rights Agreement dated October 27, 2025, incorporated by reference to Form 6-K filed on October 28, 2025.](https://www.sec.gov/Archives/edgar/data/1869467/000091957425006268/d12027594_ex10-3.htm) |
|  | (d)(2) | Not Applicable. |
|  | (g) | Not Applicable. |
|  | (h) | Not Applicable. |
| b) | Not Applicable. | Not Applicable. |
| c) | [Filing Fee Table.](https://www.sec.gov/Archives/edgar/data/1869467/000091957425007223/s12038764_ex107.htm)\*\* | [Filing Fee Table.](https://www.sec.gov/Archives/edgar/data/1869467/000091957425007223/s12038764_ex107.htm)\*\* |

---

\* Filed herewith <br> \*\* Filed previously

## Ex-99.(A)(1)(D)

**Exhibit (a)(1)(D)**

#### OceanPal Inc. Announces Accrued Dividend Payment in Tender Offer

**ATHENS, GREECE - December 11, 2025 -** OceanPal Inc. ("OceanPal" or "OP", NASDAQ: SVRN), <u>previously announced its offer</u> to purchase any and all outstanding shares of its 7.0% Series D Cumulative Convertible Perpetual Preferred Stock, par value $0.01 per share, with a $1,000 liquidation preference per share, (the "Series D Preferred Shares", or the "Shares"), at a price of $1,400 per share plus accrued dividends (the "Offer") for Shares properly tendered and accepted for purchase pursuant to the Offer.

The amount of accrued and unpaid dividends payable in connection with the Offer as of the Offer settlement date is expected to be $16.33 per share compared to the $17.50 per share dividend paid for the period from July 15, 2025 to October 14, 2025, on October 15, 2025.

The Offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase and related documents filed with the Securities and Exchange Commission ("SEC"). This clarification does not modify the Offer price, the number of securities sought, the Offer period, or any other material term of the Offer.

Copies of the Offer to Purchase and the related Letter of Transmittal are being mailed to the Company's shareholders. Additional copies of the Offer to Purchase and the related Letter of Transmittal may be obtained at the Company's expense from the information agent. Questions regarding the tender offer should be directed to the information agent at (866) 486-7610. Parties outside the U.S. can reach the information agent at +1-(631) 302-5187.

#### About SovereignAI

SovereignAI is a wholly owned subsidiary of OP formed to implement the company's digital asset treasury strategy, and developer of confidential AI infrastructure offering a superior path to get exposure to the intersection of AI and blockchain in the public markets. SovereignAI will use NEAR Protocol's purpose-built technology to establish private, user-owned agentic commerce. Funds generated by SovereignAI's holistic treasury management strategy of NEAR tokens will be used to further the Company's goal of building unique blockchain-native AI infrastructure.

To learn more about SovereignAI, please visit: <u>https://www.svrn.net/</u>

#### About OceanPal Inc.
OceanPal Inc. is a global provider of shipping transportation services, specializing in the ownership and operation of dry bulk vessels and product tankers. OP is engaged in the seaborne transportation of bulk commodities, including iron ore, coal, and grain, as well as refined petroleum products. OP's fleet is primarily employed on time charter trips with short to medium duration and spot charters, with a strategic focus on maximizing long-term shareholder value.

**Media Contact:** <u>svrn@mgroupsc.com</u>

#### Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are statements other than historical facts and include, without limitation, future announcements and priorities, expectations regarding management, corporate governance, market position, business strategies, future financial and operating performance, and other projections or statements of plans and objectives.

These forward-looking statements are based on current expectations, estimates, assumptions, and projections, and involve known and unknown risks, uncertainties, and other factors-many of which are beyond OP's control-that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, OP's ability to execute its growth strategy; its ability to raise and deploy capital effectively; developments in technology and the competitive landscape; the market performance of NEAR; and other risks and uncertainties described under "Risk Factors" in OP's Annual Report on Form 20-F filed with the SEC on April 15, 2025, and in other subsequent filings with the SEC. These filings are available at <u>www.sec.gov</u>. OP undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

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