# EDGAR Filing Document

**Accession Number:** 0001869467
**File Stem:** 0000919574-25-004134
**Filing Date:** 2025-7
**Character Count:** 23198
**Document Hash:** c583adfa2efc50f099f804f349b9c931
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-004134.hdr.sgml**: 20250721

**ACCESSION NUMBER**: 0000919574-25-004134

**CONFORMED SUBMISSION TYPE**: F-1MEF

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20250721

**DATE AS OF CHANGE**: 20250721

**EFFECTIVENESS DATE**: 20250721

**FILER**: 

**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:** F-1MEF
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-288795
- **FILM NUMBER:** 251135906

**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

#### As filed with the Securities and Exchange Commission on July 21, 2025.

#### Registration No. 333-
**UNITED STATES**<br> **SECURITIES AND EXCHANGE COMMISSION**<br> **Washington, D.C. 20549** 

### FORM F-1
**REGISTRATION STATEMENT**<br> ***UNDER***<br> ***THE SECURITIES ACT OF 1933*** 

**OCEANPAL INC.**<br> (Exact name of Registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Republic of The Marshall Islands**<br> (State or other jurisdiction of<br> incorporation or organization) | **4412**<br> (Primary Standard Industrial<br> Classification Code Number) | **N/A**<br> (I.R.S. Employer<br> Identification No.) |
| <br> **OceanPal Inc.<br> c/o Steamship Shipbroking<br> Enterprises Inc.<br> Pendelis 26, 175 64 Palaio<br> Faliro, Athens, Greece<br> + 30-210-9485-360**<br> (Address and telephone number of<br> Registrant's principal executive offices) |  | <br> **Seward & Kissel LLP**<br> **Attention: Edward S. Horton, Esq.**<br> **One Battery Park Plaza**<br> **New York, New York 10004**<br> **(212) 574-1265**<br> (Name, address and telephone<br> number of agent for service) |

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***Copies to:***

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| | |
|:---|:---|
| <br>**Edward S. Horton, Esq.**<br> **Seward & Kissel LLP**<br> **One Battery Park Plaza**<br> **New York, New York 10004**<br> **(212) 574-1265 (telephone number)**<br> **(212) 480-8421 (facsimile number)** | <br>**Barry I. Grossman, Esq.**<br> **Matthew Bernstein, Esq.**<br> **Ellenoff Grossman & Schole LLP**<br> **1345 Avenue of the Americas** <br> **New York, New York 10105** <br> **Tel: (212) 370-1300**<br>|

---

Approximate date of commencement of proposed sale to the public: As soon as practicable after this Registration Statement becomes effective.

If any of the securities being registered on this Form are being offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, check the following box. ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☒

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.

Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☒

† The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012

**This registration statement shall become effective upon filing with the Securities and Exchange Commission in accordance with Rule 462(b) promulgated under the Securities Act of 1933, as amended.**<br>** 

<br> ------

#### EXPLANATORY NOTE

OceanPal Inc. (the "Registrant") is filing this registration statement with the U.S. Securities and Exchange Commission (the "Commission") pursuant to Rule 462(b) under the U.S. Securities Act of 1933, as amended. This registration statement relates to the Registrant's prior registration statement on Form F-1 (File No. 333-288153) (together with its exhibits, the "Prior Registration Statement"). The contents of the Prior Registration Statement are incorporated herein by reference.

The Registrant is filing this registration statement for the sole purpose of registering (i) additional units, each unit consisting of (a) one common share of the Company or one pre-funded warrant to purchase one common share and (b) one Class C warrant to purchase one common share, and (ii) common shares issuable upon the exercise of such additional pre-funded warrants and Class C warrants. The additional securities that are being registered are in an amount and at a price that together represent no more than 20% of the maximum aggregate offering price set forth in the Filing Fee Table (Exhibit 107) filed as an exhibit to the Prior Registration Statement.

The required opinion, consents, and fee information are filed herewith.

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#### CERTIFICATION
The Registrant hereby certifies to the Commission that (1) it has instructed its bank to pay the filing fee set forth on Exhibit 107 to this Registration Statement by a wire transfer of such amount to the Commission's account at U.S. Bank as soon as practicable (but no later than the close of business as of July 22, 2025), (2) it will not revoke such instructions, (3) it has sufficient funds in the relevant account to cover the amount of such filing fee and (4) it will confirm receipt of such instructions by its bank during regular business hours no later than July 22, 2025.

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#### PART II: INFORMATION NOT REQUIRED IN THE PROSPECTUS

#### <br>

#### Item 8. Exhibits and Financial Statement Schedules.

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| | |
|:---|:---|
| **Exhibit**<br> **No.** | **Description** |
| 5.1  | [Opinion of Seward & Kissel LLP, as to the legality of the securities being registered](d11857133_ex5-1.htm) |
| 23.1  | [Consent of Ernst & Young (Hellas) Certified Auditors Accountants S.A.](d11857133_ex23-1.htm) |
| 23.2 | Consent of Seward & Kissel LLP (included in [Exhibit 5.1](d11857133_ex5-1.htm) hereto) |
| 24.1\* | [Power of Attorney](https://www.sec.gov/Archives/edgar/data/1869467/000091957425003663/d11795596a_f-1.htm#POWEROFATTORNEY) (included on signature page of the Registration Statement on Form F-1 (File No. 333-288153), originally filed with the U.S. Securities and Exchange Commission on June 18, 2025 and incorporated by reference) |
| 107 | [Fee Filing Table](d11857133_ex107.htm) |

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\* Previously filed.

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**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-1 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Athens, Greece, on July 21, 2025.

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| | |
|:---|:---|
| **OCEANPAL INC.** | **OCEANPAL INC.** |
| By: | /s/ Robert Perri |
| Name: | Robert Perri |
| Title: | Chief Executive Officer |

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Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons on July 21, 2025 in the capacities indicated.

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| | |
|:---|:---|
| **Signature** | **Title** |
| /s/ Semiramis Paliou | Chairman and Director |
| Semiramis Paliou |  |
| /s/ Robert Perri | Chief Executive Officer |
| Robert Perri | (Principal Executive Officer) |
| /s/ Vasiliki Plousaki | Chief Financial Officer |
| Vasiliki Plousaki | (Principal Financial Officer and Principal Accounting Officer) |
| /s/ Eleftherios Papatrifon | Director |
| Eleftherios Papatrifon |  |
| /s/ Ioannis Zafirakis | Director |
| Ioannis Zafirakis |  |
| /s/ Styliani Alexandra Sougioultzoglou | Director |
| Styliani Alexandra Sougioultzoglou |  |
| /s/ Grigorios-Filippos Psaltis | Director |
| Grigorios-Filippos Psaltis |  |
| /s/ Nikolaos Veraros | Director |
| Nikolaos Veraros |  |
| /s/ Alexios Chrysochoidis | Director |
| Alexios Chrysochoidis |  |

---

------

**** 

<br> **AUTHORIZED UNITED STATES REPRESENTATIVE**

Pursuant to the Securities Act of 1933, the undersigned, the duly authorized representative in the United States of OceanPal Inc., has signed this Registration Statement on Form F-1 in City of Newark, State of Delaware, on the 21st day of July 2025.

PUGLISI & ASSOCIATES<br> (Authorized Representative)

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| | |
|:---|:---|
| By: | /s/ Donald J. Puglisi |
| Name: | Donald J. Puglisi |
| Title: | *Managing Director* |

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## Exhibit 5.1

#### Exhibit 5.1

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| | | |
|:---|:---|:---|
|  | SEWARD & KISSEL LLP |  |
|  | ONE BATTERY PARK PLAZA |  |
|  | NEW YORK, NEW YORK 10004 |  |
| WRITER'S DIRECT DIAL | TELEPHONE: (212) 574-1200 | 901 K Street, NW |
|  | FACSIMILE: (212) 480-8421 | WASHINGTON, D.C. 20001 |
|  | WWW.SEWKIS.COM | TELEPHONE: (202) 737-8833 |
|  |  | FACSIMILE: (202) 737-5184 |
|  |  | July 21, 2025 |

---

OceanPal Inc.

Pendelis 26, 175 64

Palaio Faliro

Athens, Greece

#### Re: OceanPal Inc.

Ladies and Gentlemen:

We have acted as counsel to OceanPal Inc., a Marshall Islands corporation (the "Company"), in connection with the preparation and filing of the Company's Registration Statement on Form F-1 (the "Initial Registration Statement"), filed with the U.S. Securities and Exchange Commission (the "Commission") on June 18, 2025, under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and (ii) a second Registration Statement on Form F-1 filed pursuant to Rule 462(b) promulgated under the Securities Act (the "Registration Statement"). The Registration Statement and the related Initial Registration Statement relate to the registration under the Securities Act (the "Offering") of (A) the Company's units (the "Units"), including securities issuable at the option of the Underwriter to cover over-allotments, if any, each Unit consisting of (i) one common share, par value $0.01 per share ("Common Share") of the Company and the associated preferred stock purchase rights (the "Preferred Stock Purchase Rights") to be issued pursuant to the Amended and Restated Stockholders' Rights Agreement, dated January 22, 2025 (the "Rights Agreement"), between the Company and Computershare Trust Company, N.A., as rights agent (collectively, the "Unit Shares") or one pre-funded warrant to purchase one Common Share (the "Pre-Funded Warrants") and (ii) one warrant to purchase one Common Share at the exercise price then in effect (the "Class C Purchase Warrants", and together with the Pre-Funded Warrants, the "Warrants") (B) the Common Shares underlying the Warrants and the associated Preferred Stock Purchase Rights to be issued pursuant to the Rights Agreement (the "Warrant Shares"). We have reviewed the documents incorporated by reference in the foregoing.

In our capacity as counsel to the Company, we have examined originals or copies, certified or otherwise identified to our satisfaction, of: (i) the Initial Registration Statement and the Registration Statement; (ii) the prospectus of the Company (as amended or supplemented, the "Prospectus") included in the Initial Registration Statement; and (iii) such corporate documents and records of the Company and such other instruments, certificates and documents as we have deemed necessary or appropriate as a basis for the opinions hereinafter expressed. In such examinations, we have assumed the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as copies or drafts of documents to be executed, the genuineness of all signatures and the legal competence or capacity of persons or entities to complete the execution of documents. As to various questions of fact which are material to the opinions hereinafter expressed, we have relied upon statements or certificates of public officials, directors of the Company and others.

In such examination, we have assumed (i) the legal competence or capacity of persons or entities (other than the Company) to complete the execution of documents, (ii) the genuineness of all signatures and the authenticity of all documents submitted to us as originals, (iii) the conformity to original documents of all documents submitted to us as conformed or photostatic copies, (iv) that the documents reviewed by us in connection with the rendering of the opinions set forth herein are true, correct and complete, and (v) the truthfulness of each statement as to all factual matters contained in any document or certificate encompassed within the due diligence review undertaken by us. As to matters of fact material to this opinion that have not been independently established, we have relied upon the representations and certificates of officers or representatives of the Company and of public officials, in each case as we have deemed relevant and appropriate. We have not independently verified the facts so relied on.

------

Based upon and subject to the foregoing, and having regard for such other legal considerations which we deem relevant, we are of the opinion that under the laws of the Republic of the Marshall Islands and the State of New York:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Units, the Unit Shares, the Warrants and the Warrant Shares have been duly authorized by the Company. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Unit Shares, when issued, sold and paid for as contemplated in the Registration Statement, will be validly issued, fully paid and nonassessable and the Preferred Stock Purchase Rights, when issued and delivered pursuant to the Registration Statement, will constitute binding obligations of the Company in accordance with the terms of the Rights Agreement. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. When the Units and Warrants are issued and delivered as contemplated in the Registration Statement, the Units and Warrants will constitute valid and legally binding obligations of the Company in accordance with their terms, except as the enforcement thereof (i) may be limited by any applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, fraudulent transfer, fraudulent obligation, moratorium or other similar laws affecting generally the enforceability of creditors' rights and remedies or the collection of debtor's obligations from time to time in effect, and (ii) is subject to general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law, including the application of principles of good faith, fair dealing, course of dealing, course of performance, commercial reasonableness, materiality, unconscionability and conflict with public policy and other similar principles or other law relating to or affecting creditors' rights generally and general principles of equity. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Assuming the Warrants are issued and delivered as contemplated in the Registration Statement, the Warrant Shares, when issued, delivered and paid for upon the exercise of such Warrants in accordance with their terms, will be validly issued, fully paid and non-assessable and the Preferred Stock Purchase Rights, when issued and delivered pursuant to the Registration Statement, will constitute binding obligations of the Company in accordance with the terms of the Rights Agreement. 

This opinion is limited to the laws of the State of New York and the Republic of the Marshall Islands as in effect on the date hereof.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement to be filed with the Securities and Exchange Commission on the date hereof, and to each reference to us and the discussions of advice provided by us under the headings "Legal Matters" in the Prospectus, without admitting we are "experts" within the meaning of the Securities Act of 1933, as amended, or the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to any part of the Registration Statement or Prospectus.

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Very truly yours, |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Seward & Kissel LLP |

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## Exhibit 23.1

**Exhibit 23.1**<br>

#### <br>

#### Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in the Registration Statement on Form F-1 filed pursuant to Rule 462(b) of the Securities Act of 1933 of the reference to our firm under the caption "Experts" and to the incorporation by reference of our report dated April 15, 2025, with respect to the consolidated financial statements of OceanPal Inc. included in its Annual Report (Form 20-F) for the year ended December 31, 2024, filed with the Securities and Exchange Commission, incorporated by reference in Amendment No. 2 to the Registration Statement (Form F-1 No. 333-288153) and related Prospectus of OceanPal Inc. for the registration of Units, Each Unit Consisting of One Common Share or One Pre-Funded Warrant to Purchase One Common Share and One Class C Warrant to Purchase One Common Share and Common Shares issuable upon the exercise of such Pre-Funded Warrants and Class C Warrants.

/s/ Ernst & Young (Hellas) Certified Auditors Accountants S.A.

Athens, Greece

July 21, 2025

## Ex-Filing

#### Exhibit 107

#### CALCULATION OF FILING FEE TABLES

#### Form F-1
(Form Type)

#### OceanPal Inc.
(Exact Name of Registrant as Specified in its charter)

<u>Table 1: Newly Registered Securities</u>

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Security**<br> **Type** | **Security**<br> **Class Title** | **Fee**<br> **Calculation Rule** | **Amount**<br> **Registered** | **Proposed**<br> **Maximum**<br> **Offering**<br> **Price Per Unit** | **Maximum**<br> **Aggregate**<br> **Offering Price<sup>(1)(8)</sup>** | **Fee Rate** | **Amount of Registration Fee** |
| **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** |
| **Fees to Be Paid** | Equity | Units, consisting of: | Other |  | - | - | - | $0 |
| **Fees to Be Paid** | Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Common Shares, par value<br> $0.01 per share<sup>(6)</sup> or<br> Pre-funded Warrants to<br> purchase Common<br> Shares<sup>(2)(3)(4)(7)</sup> | Rule 457(o) | - | - | $3450000.00 | 0.0001531<br>| $528.195<br>|
| **Fees to Be Paid** | Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Class C Warrants to<br> purchase Common Shares<sup>(2)</sup> | Other | - | - | - | - | - |
| **Fees to Be Paid** | Equity | Common Shares issuable upon exercise of the Class C Warrants<sup>(5)</sup> | Other | - | - | $7762500.00 | 0.0001531<br>| $1188.439 |
| **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  | $11212500 |  | $1716.634 |
| **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  |  |  | - |
| **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  |  | - |
| **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  | $1716.634 |

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![](image1.jpg)

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| | |
|:---|:---|
| (1) | Estimated solely for the purpose of calculating the amount of the registration fee in accordance with Rule 457(o) under the U.S. Securities Act of 1933, as amended (the "Securities Act"). Pursuant to Rule 416, there are also being registered such indeterminable additional securities as may be issued or resold to prevent dilution as a result of stock splits, stock dividends, recapitalizations, combinations, or similar transactions. |
| (2) | In accordance with Rule 457(g) under the Securities Act, no separate registration fee is required with respect to the Warrants registered hereby. |
| (3) | The proposed maximum aggregate offering price of the Common Shares proposed to be sold in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any Pre-Funded Warrants offered and sold in the offering, and as such the proposed maximum offering price of the Common Shares and Pre-Funded Warrants (including the Common Shares issuable upon exercise of the Pre-Funded Warrants) if any, is $3,450,000.00. |
| (4) | The registrant may issue Pre-Funded Warrants to purchase Common Shares in the offering. The purchase price of each unit including a Pre-Funded Warrant will equal the price per Unit including one Common Share, minus $0.01, and the exercise price of each Pre-Funded Warrant will be $0.01 per Common Share. |
| (5) | Based on an assumed per-share exercise price for the Class C Warrants of 225% of the public offering price per unit in this offering. |
| <br> (6)<br>(7)<br>(8) | <br> Including related preferred stock purchase rights. Preferred stock purchase rights are not currently separable from the Common Shares and are not currently exercisable. The value attributable to the preferred stock purchase rights, if any, will be reflected in the market price of the Common Shares.<br>Includes common stock and Class C Warrants that may be sold pursuant to the underwriters' over-allotment option.<br>Represents only the additional number of securities being registered in accordance with Rule 462(b) under the Securities Act. Does not include the securities that the registrant previously registered on the Registration Statement on Form F-1 (File No. 333-288153). |

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