- OceanPal Inc. (OP, Financial) has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement.
- The company has a 180-day grace period until October 14, 2025, to regain compliance.
- OceanPal's business operations remain unaffected during this period.
OceanPal Inc. (OP), a global shipping company, has announced it received a written notification from Nasdaq, dated April 17, 2025, indicating non-compliance with the minimum bid price requirement as its stock has traded below US$1.00 per share for 30 consecutive business days.
According to Nasdaq Listing Rule 5810(c)(3)(A), OceanPal now has a 180-day grace period, until October 14, 2025, to address this deficiency. To regain compliance, the closing bid price of OP's common stock must meet or exceed US$1.00 per share for at least ten consecutive business days during the grace period.
Should OceanPal fail to achieve compliance within this period, the company may be eligible for an additional 180-day grace period if it meets other listing standards. Throughout this process, OceanPal's stock will continue to be listed and traded on the Nasdaq Capital Market, and the company assures that its business operations remain unaffected by this development.
OceanPal Inc. specializes in the ownership and operation of dry bulk vessels and product tankers, facilitating the transportation of bulk commodities such as iron ore, coal, and grain. The company aims to maximize long-term shareholder value through strategic fleet management and chartering.
