Staff Determination Issued Pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iv) Following Prior Reverse Stock Split; Company's Hearing Request Will Automatically Stay Any Suspension or Delisting Action Pending the Panel Decision ATHENS, Greece, March 13, 2026 /PRNewswire/ -- OceanPal, Inc. ("OceanPal", Nasdaq: SVRN) that today disclosed that on March 13, 2026, the Company received a written determination letter (the "Staff Determination") from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that the Staff has determined to delist the Company's common shares from The Nasdaq Capital Market unless the Company timely requests a hearing before an independent Hearings Panel (the "Panel"). Key Highlights: The Staff Determination was issued pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iv) on the grounds that the Company's common shares failed to maintain a minimum closing bid price of $1.00 per share for 30 consecutive business days from January 29, 2026, through March 12, 2026, and that the Company is ineligible for a compliance period due to a prior one-for-twenty-five (1-for-25) reverse stock split effected on August 25, 2025.
