Filing Details

OceanPal Inc.

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

Y6430L103

(CUSIP Number)

 

Attn:  Mr. Anastasios Margaronis

Pendelis 16, 175 64 Palaio Faliro

Athens, Greece

+ 30-210-9470-100

(Name, Address and Telephone Number of Person Authorized to Receive

Notices and Communications)

December 10, 2021

(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.240.13d-1(e), 240.13d‑1(f) or 240.13d-1(g), check the following box [  ].

 

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.

 

 

*   The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Item 4.

Purpose of Transaction.

 

 

The Reporting Persons acquired the Shares in connection with the spin-off transaction as described herein solely for investment purposes.  The Reporting Persons, at any time and from time to time, may acquire additional Shares, including in connection with the provision of any services or other strategic transactions with the Issuer, or dispose of any or all of the Shares they own depending upon an ongoing evaluation of their investment in the Shares, prevailing market conditions, other investment opportunities, other investment considerations and/or other factors.  The Reporting Persons further reserve the right to act in concert with any other shareholders of the Issuer, or other persons, for a common purpose should they determine to do so, and/or to recommend courses of action to the Issuer's management, the Issuer's Board of Directors, the Issuer's shareholders and others. In addition, the Reporting Persons are in contact with members of the Issuer's management, the members of the Issuer's Board of Directors, other significant shareholders and others regarding alternatives that the Issuer could employ to increase shareholder value.

 

(a. & b.) As of December 10, 2021, the Issuer had 136,117 Shares outstanding.  Based on the foregoing, the following persons report beneficial ownership of the following Shares:

Anmar is the record holder of 136,117 Shares, representing 1.5% of the Issuer’s issued and outstanding Shares, which Anamar indirectly may be deemed to beneficially own, as the result of her ability to control the vote and disposition of such entity.

Anmar has the sole power to vote or direct the vote of 0 shares and has the shared power to vote or direct the vote of 136,117 Shares. Therefore, Margaronis has the sole power to vote or direct the vote of 0 Shares and has the shared power to vote or direct the vote of 136,117 Shares.

(c.)The Reporting Persons sold an aggregate of 652,696 of the Issuer’s common shares on between November 30 and December 9 at prices ranging between $2.74 and $12.00. Except as otherwise disclosed herein, no transactions in the Shares were effected by the persons enumerated in Item 2 during the past 60 days.

(d.) No other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the Shares beneficially owned by the Reporting Persons.

(e.) Not applicable.