OceanPal Inc. (NASDAQ: SVRN) has restored compliance with Nasdaq’s minimum bid‑price requirement, eliminating the imminent delisting risk that had shadowed the company for weeks. The Nasdaq Listing Qualifications staff confirmed the compliance on April 16, 2026, after the company completed a one‑for‑twenty reverse stock split on March 30, 2026, which was intended to lift the share price above the $1.00 threshold.
The bid‑price deficiency had arisen because OceanPal’s share price had fallen below the minimum requirement, a situation that could have led to a delisting notice. The reverse split, coupled with the company’s ongoing share‑repurchase program, brought the bid price back into compliance. The regulatory action removes a major risk factor that had weighed on the company’s valuation and trading liquidity.
OceanPal’s business model blends traditional shipping operations with a sizable NEAR Protocol treasury. The company holds roughly 55 million NEAR tokens, managed by its subsidiary SovereignAI Services LLC. The treasury strategy aims to generate yield through staking while benefiting from potential token appreciation, positioning OceanPal as a pioneer among publicly traded companies with a digital‑asset treasury. The shipping segment, now projected to be EBITDA‑positive in 2026, provides a stable revenue base that complements the high‑yield digital‑asset side.
Financially, OceanPal reported a net loss of $65.2 million for the full year 2025, compared with a $17.9 million loss in 2024. Despite the loss, the company’s shareholders’ equity rose to $156.6 million, and it remains debt‑free. Management has pursued an aggressive share‑repurchase strategy, targeting a 0.8× market‑based net asset value (mNAV) threshold. As Salvatore Ternullo, Co‑CEO, explained, "With this matter behind us, the team is focused entirely on execution. Our priorities are clear: compound value through NEAR accumulation, and accelerate the commercial adoption of NEAR Protocol, which is central to our long‑term thesis."
Ternullo added, "We've established 0.8x mNAV as the target. Below that threshold, we are buyers. It reflects our conviction in the quality of our treasury, the strength of NEAR Protocol, and the direction our business is heading."
The compliance restoration positions OceanPal to concentrate on executing its dual‑business strategy without the distraction of regulatory uncertainty. The company’s debt‑free balance sheet, growing NEAR treasury, and projected EBITDA‑positive shipping operations suggest a more resilient and potentially higher‑growth trajectory moving forward.
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