OceanPal Inc. Announces Share Repurchases and Establishes Buyback Threshold

OceanPal Inc. has repurchased 345,168 shares under its previously authorized $10 million share buyback program, utilizing $2.7 million and leaving $7.3 million in capacity. The company has established a target repurchase threshold of 0.8x mNAV (market capitalization to net asset value of NEAR holdings), intending to prioritize share repurchases when its market capitalization falls below this level. This policy formalizes a strategy to buy back shares when management believes the stock is undervalued relative to its NEAR treasury holdings. As of April 8, 2026, OceanPal’s stock had appreciated over 50% since its March 30, 2026 reverse stock split, trading at a 0.9x mNAV with over 55 million NEAR tokens in its treasury. The company also highlighted its NEAR treasury generates an approximate 5% gross annualized yield and that its shipping segment is projected to be EBITDA-positive in 2026.