OceanPal Inc. (OP, Financial) has been informed by Nasdaq that its stock is at risk of being delisted due to the closing bid price falling below the $1.00 per share threshold. This notification, dated April 17, 2025, indicates that the company has not met this requirement for 30 consecutive business days, thus breaching Nasdaq Listing Rule 5550(a)(2).
According to Nasdaq Listing Rule 5810(c)(3)(A), OceanPal now has a grace period of 180 days to improve its stock price to reach compliance standards. This period extends until October 14, 2025. During this time, the company must work to boost its stock price to maintain its position on the Nasdaq Capital Market.
OceanPal will need to undertake strategic measures to enhance shareholder value and address the current price discrepancy to avoid potential delisting at the end of the grace period.
