Abra Marinvest Amends OceanPal Inc. (OP) 13D Filing

TL;DR

**Abra Marinvest just updated its stake in OceanPal, watch for potential shifts in company direction.**

AI Summary

Abra Marinvest Inc. filed an amended Schedule 13D/A on January 19, 2024, updating its beneficial ownership in OceanPal Inc. (OP) common stock. This amendment, triggered by an event on January 16, 2024, indicates a change in their holdings or intentions regarding OceanPal Inc. stock. For investors, this matters because significant changes in ownership by large holders like Abra Marinvest can signal shifts in confidence or potential future corporate actions, impacting the stock's perceived value and trading activity.

Why It Matters

Changes in major shareholder positions can influence stock price and signal potential strategic moves or lack thereof, affecting investor sentiment.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership can introduce uncertainty regarding future corporate control or strategic direction, posing a medium risk to current shareholders.

Analyst Insight

Investors should monitor subsequent filings from Abra Marinvest Inc. and OceanPal Inc. for details on the nature of the change in ownership or intentions, as this could precede further corporate actions or shifts in control.

Key Numbers

• Y6430L202 — CUSIP Number (identifies OceanPal Inc.'s Common Stock)
• 005-93136 — SEC File Number (identifies OceanPal Inc.'s registration with the SEC)
• 30-210-9485-360 — Business Phone (contact number for OceanPal Inc.)

Key Players & Entities

• Abra Marinvest Inc. (company) — the entity filing the SC 13D/A amendment
• OceanPal Inc. (company) — the subject company whose securities are being reported
• Ms. Margarita Veniou (person) — person authorized to receive notices for OceanPal Inc.
• January 16, 2024 (date) — date of the event requiring the filing
• $0.01 (dollar_amount) — par value per share of OceanPal Inc. Common Stock

Forward-Looking Statements

• Abra Marinvest Inc. may be adjusting its investment strategy in OceanPal Inc. (Abra Marinvest Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.01 — l Inc. (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class of

Filing Documents

• d10932253_13d-a.htm (SC 13D/A) — 73KB
• 0000919574-24-000466.txt ( ) — 75KB

From the Filing

SC 13D/A 1 d10932253_13d-a.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No.1)* OceanPal Inc. (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class of Securities) Y6430L202 (CUSIP Number) Attn: Ms. Margarita Veniou Pendelis 26, 175 64 Palaio Faliro Athens, Greece + 30-210-9485-360 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 16, 2024 (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), 240.13d1(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). CUSIP No. Y6430L202 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Ioannis Zafirakis 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [x] 3. SEC USE ONLY 4. SOURCE OF FUNDS OO 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] 6. CITIZENSHIP OR PLACE OF ORGANIZATION Greece NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. SOLE VOTING POWER 0 8. SHARED VOTING POWER 316,539 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER 316,539 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 316,539 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.08% 14. TYPE OF REPORTING PERSON IN CUSIP No. Y6430L202 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Abra Marinvest Inc. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [x] 3. SEC USE ONLY 4. SOURCE OF FUNDS OO 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] 6. CITIZENSHIP OR PLACE OF ORGANIZATION Marshall Islands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. SOLE VOTING POWER 0 8. SHARED VOTING POWER 316,539 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER 316,539 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 316,539 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.08% 14. TYPE OF REPORTING PERSON CO EXPLANATORY NOTE This Amendment No.1 (the "Amendment No.1") to the Schedule 13D amends the statement on Schedule 13D that was originally filed with the U.S. Securities and Exchange Commission (the "Commission") on December 20, 2023 (the "Schedule 13D") filed by the Reporting Persons (as defined below) related to the shares of common stock, par value $0.01 per share (the "Shares"), of OceanPal Inc. (the "Issuer"). This Amendment No.1 is being filed to report a decrease in the percentage ownership of Shares that the Reporting Persons may be deemed to beneficially own though its ownership of the Issuer's Series C Preferred Stock and Series D Preferred Stock which may be converted into Shares of the Issuer at the Reporting Person's option (subject to certain ownership restrictions contained in the Series C Preferred Stock and Series D Preferred Stock's statements of designation, together the "Statements of Designation') as a result of a change in the Series C Preferred Stock's and the Series D Preferred Stock's conversion price. Due to the decrease in the percentage ownership of the Shares, this Amendment No.1 constitutes an exit filing for the Reporting Persons. Item 1. Security and Issuer. This Amendment No.1 to the Schedule 13D relates to the Shares of the Issuer. The principal executive office and mailing address of the Issuer is Pendelis 26, 175 64 Palaio Faliro, Athens, Greece. Item 2. Identity and Background. This Amendment No.1 to the Schedule 13D is being filed on behalf of Ioannis Zafirakis ("Zafirakis"), a citizen of Greece, and Abra Marinvest Inc., a Marshall Islands corporation ("Abra"). Zafira

View Full Filing

View this SC 13D/A filing on SEC EDGAR