OceanPal Faces Nasdaq Delisting Due to Minimum Bid Price Deficiency

OceanPal, a shipping and logistics company, has received a Nasdaq Staff Determination due to its non-compliance with the minimum bid price requirement of $1.00 per share. The company intends to request a hearing before an independent Hearings Panel, which will automatically stay any suspension or delisting action pending the Panel's decision. OceanPal's board is evaluating measures to restore compliance, including potential capital markets transactions and other corporate actions.