# EDGAR Filing Document

**Accession Number:** 0001646799
**File Stem:** 0001213900-23-012915
**Filing Date:** 2023-2
**Character Count:** 20199
**Document Hash:** 90bac56d6956e5cca12bcb6cba36f33d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-012915.hdr.sgml**: 20230217

**ACCESSION NUMBER**: 0001213900-23-012915

**CONFORMED SUBMISSION TYPE**: SC 13G

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230217

**DATE AS OF CHANGE**: 20230217

**GROUP MEMBERS**: DANIEL B. ASHER

**GROUP MEMBERS**: MITCHELL P. KOPIN

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OceanPal Inc.
- **CENTRAL INDEX KEY:** 0001869467
- **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
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93136
- **FILM NUMBER:** 23643381

**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:** INTRACOASTAL CAPITAL, LLC
- **CENTRAL INDEX KEY:** 0001646799
- **IRS NUMBER:** 320460881
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** 245 PALM TRAIL
- **CITY:** DELRAY BEACH
- **STATE:** FL
- **ZIP:** 33483
- **BUSINESS PHONE:** 8475629030

**MAIL ADDRESS:**
- **STREET 1:** 245 PALM TRAIL
- **CITY:** DELRAY BEACH
- **STATE:** FL
- **ZIP:** 33483

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

**SCHEDULE 13G** 

**Under the Securities Exchange Act of 1934** 

**(Amendment No.)\***

OceanPal Inc.

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

<u>MHY6430L1069</u>

(CUSIP Number)

February 8, 2023

(Date of Event Which Requires Filing of this Statement)

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

a. ☐ Rule 13d-1(b)

b. ☒ Rule 13d-1(c)

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 Exchange Act of 1934 ("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).

Page 1 of 7

CUSIP No. <u>MHY6430L1069</u>

---

| | |
|:---|:---|
| 1. | Names of Reporting Persons. |
|  | Mitchell P. Kopin |
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) |
|  | (a) |
|  | (b) |
| 3. | SEC Use Only |
| 4. | Citizenship or Place of Organization United States of America |

---

---

| | |
|:---|:---|
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 5. Sole Voting Power 0 |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: |  |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 6. Shared Voting Power 2,742,170 |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: |  |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 7. Sole Dispositive Power 0 |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: |  |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 8. Shared Dispositive Power 2,720,817 |

---

---

| | |
|:---|:---|
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person 2,742,170 (see Item 4) |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) |
| 11. | Percent of Class Represented by Amount in Row (9) 9.99% (see Item 4) |
| 12. | Type of Reporting Person (See Instructions) |
|  | IN; HC |

---

Page 2 of 7

CUSIP No. <u>MHY6430L1069</u>

---

| | |
|:---|:---|
| 1. | Names of Reporting Persons. |
|  | Daniel B. Asher |
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) |
|  | (a) |
|  | (b) |
| 3. | SEC Use Only |
| 4. | Citizenship or Place of Organization United States of America |

---

---

| | |
|:---|:---|
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 5. Sole Voting Power 0 |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: |  |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 6. Shared Voting Power 2,742,170 |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: |  |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 7. Sole Dispositive Power 0 |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: |  |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 8. Shared Dispositive Power 2,720,817 |

---

---

| | |
|:---|:---|
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person 2,742,170 (see Item 4) |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) |
| 11. | Percent of Class Represented by Amount in Row (9) 9.99% (see Item 4) |
| 12. | Type of Reporting Person (See Instructions) |
|  | IN; HC |

---

Page 3 of 7

CUSIP No. <u>MHY6430L1069</u>

---

| | |
|:---|:---|
| 1. | Names of Reporting Persons. |
|  | Intracoastal Capital LLC |
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) |
|  | (a) |
|  | (b) |
| 3. | SEC Use Only |
| 4. | Citizenship or Place of Organization Delaware |

---

---

| | |
|:---|:---|
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 5. Sole Voting Power 0 |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: |  |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 6. Shared Voting Power 2,742,170 |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: |  |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 7. Sole Dispositive Power 0 |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: |  |
| Number of <br> Shares Beneficially <br> Owned by Each <br> Reporting <br> Person With: | 8. Shared Dispositive Power 2,720,817 |

---

---

| | |
|:---|:---|
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person 2,742,170 (see Item 4) |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) |
| 11. | Percent of Class Represented by Amount in Row (9) 9.99% (see Item 4) |
| 12. | Type of Reporting Person (See Instructions) |
|  | OO |

---

Page 4 of 7

**Item 1.** 

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

OceanPal Inc. (the "**Issuer**")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Address of Issuer's Principal Executive Offices

Pendelis 26, 175 64 Palaio Faliro, Athens, Greece

**Item 2.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Name of Person Filing

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Address of Principal Business Office or, if none, Residence

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Citizenship

This Schedule 13G is being filed on behalf of (i) Mitchell P. Kopin, an individual who is a citizen of the United States of America ("**Mr. Kopin**"), (ii) Daniel B. Asher, an individual who is a citizen of the United States of America ("**Mr. Asher**") and (iii) Intracoastal Capital LLC, a Delaware limited liability company ("**Intracoastal**" and together with Mr. Kopin and Mr. Asher, collectively the "**Reporting Persons**").

The Reporting Persons have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as **[Exhibit 1](ea173933ex99-1_ocean.htm)**, pursuant to which the Reporting Persons have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended.

The principal business office of Mr. Kopin and Intracoastal is 245 Palm Trail, Delray Beach, Florida 33483.

The principal business office of Mr. Asher is 111 W. Jackson Boulevard, Suite 2000, Chicago, Illinois 60604.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Title of Class of Securities

Common Stock, $0.01 par value per share, of the Issuer (the "**Common Stock**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) CUSIP Number

MHY6430L1069

**Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:** 

Not applicable.

**Item 4. Ownership.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) and (b):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Immediately following the execution of the Securities Purchase Agreement with the Issuer on February 8, 2023 (the "**SPA**") (as disclosed in the Form 6-K filed by the Issuer with the Securities and Exchange Commission on February 10, 2023), each of the Reporting Persons may have been deemed to have beneficial ownership of 1,130,297 shares of Common Stock, which consisted of (i) 1,100,000 shares of Common Stock to be issued to Intracoastal at the closing of the transaction contemplated by the SPA and 30,297 shares of Common Stock issuable upon exercise of a warrant to be issued to Intracoastal at the closing of the transaction contemplated by the SPA ("**Intracoastal Warrant 1**"), and all such shares of Common Stock in the aggregate represent beneficial ownership of approximately 9.99% of the Common Stock, based on (1) 10,183,996 shares of Common Stock outstanding as of February 8, 2023, as reported by the Issuer, plus (2) 1,100,000 shares of Common Stock to be issued to Intracoastal at the closing of the transaction contemplated by the SPA and (3) 30,297 shares of Common Stock issuable upon exercise of Intracoastal Warrant 1. The foregoing excludes (I) 869,703 shares of Common Stock issuable upon exercise of Intracoastal Warrant 1 because Intracoastal Warrant 1 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 1 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 9.99% of the Common Stock, (II) 2,000,000 shares of Common Stock issuable upon exercise of a second warrant to be issued to Intracoastal at the closing of the transaction contemplated by the SPA ("**Intracoastal Warrant 2**") because Intracoastal Warrant 2 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 2 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 9.99% of the Common Stock, (III) 2,000,000 shares of Common Stock issuable upon exercise of a third warrant to be issued to Intracoastal at the closing of the transaction contemplated by the SPA ("**Intracoastal Warrant 3**") because Intracoastal Warrant 3 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 3 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 9.99% of the Common Stock and (IV) 113,100 shares of Common Stock issuable upon exercise of a warrant held by Intracoastal ("**Intracoastal Warrant 4**") because Intracoastal Warrant 4 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 4 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock. Without such blocker provisions, each of the Reporting Persons may have been deemed to have beneficial ownership of 6,113,100 shares of Common Stock.

Page 5 of 7

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) As of the close of business on February 17, 2023, each of the Reporting Persons may have been deemed to have beneficial ownership of 2,742,170 shares of Common Stock, which consisted of: (i) 1,377,015 shares of Common Stock held by Intracoastal and (ii) 1,365,155 shares of Common Stock issuable upon exercise of Intracoastal Warrant 2, and all such shares of Common Stock represented beneficial ownership of approximately 9.99% of the Common Stock, based on (1) 10,183,996 shares of Common Stock outstanding as of February 8, 2023, as reported by the Issuer, plus (2) 15,000,000 shares of Common Stock in the aggregate issued at the closing of the transaction contemplated by the SPA, (3) 900,000 shares of Common Stock issued to Intracoastal upon exercise of Intracoastal Warrant 1 and (4) 1,365,155 shares of Common Stock issuable upon exercise of Intracoastal Warrant 2. The foregoing excludes (I) 634,845 shares of Common Stock issuable upon exercise of Intracoastal Warrant 2 because Intracoastal Warrant 2 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 2 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 9.99% of the Common Stock, (II) 2,000,000 shares of Common Stock issuable upon exercise of Intracoastal Warrant 3 because Intracoastal Warrant 3 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 3 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 9.99% of the Common Stock and (III) 113,100 shares of Common Stock issuable upon exercise of Intracoastal Warrant 4 because Intracoastal Warrant 4 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 4 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock. Without such blocker provisions, each of the Reporting Persons may have been deemed to have beneficial ownership of 5,490,115 shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Number of shares as to which each Reporting Person has:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Sole power to vote or to direct the vote: <u>0</u> .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Shared power to vote or to direct the vote: <u>2,742,170</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Sole power to dispose or to direct the disposition of <u>0</u> .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Shared power to dispose or to direct the disposition of <u>2,720,817</u>.

**Item 5. Ownership of Five Percent or Less of a Class**

Not applicable.

**Item 6. Ownership of More than Five 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**

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. Certification** 

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 §240.14a-11.

Page 6 of 7

**SIGNATURE**

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.

Date: February 17, 2023

---

| | |
|:---|:---|
| /s/ Mitchell P. Kopin | /s/ Mitchell P. Kopin |
| Mitchell P. Kopin | Mitchell P. Kopin |
| /s/ Daniel B. Asher | /s/ Daniel B. Asher |
| Daniel B. Asher | Daniel B. Asher |
| Intracoastal Capital LLC | Intracoastal Capital LLC |
| By: | /s/ Mitchell P. Kopin |
|  | Mitchell P. Kopin, Manager |

---

Page 7 of 7

## Exhibit 99.1

**Exhibit 1**

**JOINT FILING AGREEMENT**

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein and therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

Date: February 17, 2023

---

| | |
|:---|:---|
| /s/ Mitchell P. Kopin | /s/ Mitchell P. Kopin |
| Mitchell P. Kopin | Mitchell P. Kopin |
| /s/ Daniel B. Asher | /s/ Daniel B. Asher |
| Daniel B. Asher | Daniel B. Asher |
| Intracoastal Capital LLC | Intracoastal Capital LLC |
| By: | /s/ Mitchell P. Kopin |
|  | Mitchell P. Kopin, Manager |

---