OceanPal Inc. Discloses Share Repurchases Under Existing Board-Authorized Program; Establishes 0.8x mNAV as a Target Repurchase Threshold

Company has repurchased a total of 345,168 shares prior to the reverse split under its previously announced $10 million program, with $7.3 million remaining in authorized capacity; Company targets buybacks under 0.8x mNAV when shares are undervalued ATHENS, Greece, April 9, 2026 /PRNewswire/ -- OceanPal Inc. (the "Company" or "OceanPal", NASDAQ: SVRN), today announced that it has repurchased a total of 345,168 shares of OceanPal common stock (as adjusted to reflect the reverse stock split) from the initiation of its previously authorized share buyback program through March 27th, 2026. The Company also announced that it will target a 0.8x multiple of net asset value ("mNAV") as a target repurchase threshold for future share repurchases, below which the Company will treat repurchases of its common stock as a primary capital allocation priority.