Benzinga | Nov 17, 2021 08:29AM EST

Diana Shipping Announces Extension Of Distribution Date For Previously Announced OceanPal Spin-Off

Diana Shipping Inc. (NYSE:DSX) (the "Company"), a global shipping company specializing in the ownership of dry bulk vessels, today announced that the distribution date for the previously announced spin-off of its wholly-owned subsidiary, OceanPal Inc., has been extended. The new distribution date, to be announced in a separate press release, is expected to occur as soon as practicable following the effectiveness of the OceanPal Inc. registration statement under the Securities Exchange Act of 1934 on Form 20-F filed with the U.S. Securities and Exchange Commission (the "Registration Statement"). The Company expects the spin-off transaction to be consummated in approximately two weeks on the same terms and conditions as previously announced in the Company's press release dated October 26, 2021 and in the Registration Statement, which has not yet become effective. The record date of the OceanPal Inc. spin-off will not change.

Additional information about OceanPal Inc. and the spin-off transaction can be found in the Registration Statement, which is available at www.sec.gov. The information in the filed Registration Statement is not final and remains subject to change, and the consummation of the spin-off transaction remains subject to the Registration Statement being declared effective by the U.S. Securities and Exchange Commission.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to consummation of the spin-off transaction.