Economou Updates OceanPal Stake: Insider Influence Remains High

TL;DR

**Economou's still a major player in OceanPal, watch for his next moves!**

AI Summary

George Economou, through Sphinx Investment Corp. and Maryport Navigation Corp., has updated his beneficial ownership in OceanPal Inc. (OP) as of January 19, 2024. This Amendment No. 8 to the SC 13D filing indicates that Economou, a significant insider, continues to hold a substantial stake in the company. This matters to investors because large insider holdings can signal confidence in the company's future, but also give the insider considerable influence over corporate decisions.

Why It Matters

This filing confirms a major insider's continued significant ownership, which can influence company strategy and potentially impact stock performance.

Risk Assessment

Risk Level: medium — High insider ownership can lead to potential conflicts of interest or decisions that primarily benefit the controlling shareholder rather than all shareholders.

Analyst Insight

Investors should monitor future filings by George Economou for any changes in his ownership stake or stated intentions, as these could signal strategic shifts for OceanPal Inc.

Key Players & Entities

• George Economou (person) — beneficial owner of OceanPal Inc. shares
• OceanPal Inc. (company) — the subject company of the filing
• Sphinx Investment Corp. (company) — reporting person, controlled by George Economou
• Maryport Navigation Corp. (company) — reporting person, controlled by George Economou
• $0.01 (dollar_amount) — par value per common share of OceanPal Inc.

FAQ

Key Financial Figures

• $0.01 — e of Issuer) Common Shares, par value $0.01 per share (Title of Class of Securiti
• $206,536 — on Shares for a total purchase price of $206,536 including fees and expenses. The source

Filing Documents

• tm243824d1_sc13da.htm (SC 13D/A) — 48KB
• tm243824d1_ex99-2.htm (EX-99.2) — 35KB
• 0001104659-24-005735.txt ( ) — 85KB

of the Initial 13D is hereby supplemented

Item 3 of the Initial 13D is hereby supplemented by adding the following paragraph to the end thereof: “From and including January 5, 2024, through and including January 19, 2024, Sphinx purchased an additional 74,286 Common Shares for a total purchase price of $206,536 including fees and expenses. The source of funds used by Sphinx to purchase the Common Shares is its working capital. Unless noted above, no part of the purchase price for such Common Shares was borrowed by any Reporting Person for the purpose of acquiring, holding, trading or voting any securities discussed in this Item 3.” Item 4. Purpose of Transaction.

of the Initial 13D is hereby supplemented

Item 4 of the Initial 13D is hereby supplemented by adding the following paragraph to the end thereof: “The response to Item 3 of Amendment No. 8 to the Initial 13D is incorporated herein by reference.” Item 5. Interest in Securities of the Issuer.

of the Initial 13D is hereby amended and restated

Item 5 of the Initial 13D is hereby amended and restated as set forth below: “(a), (b) The Reporting Persons each may be deemed to beneficially own all of the 828,999 Common Shares (the “ Subject Shares ”) reported herein, which represent approximately 11.1% of Issuer’s outstanding Common Shares, based on the 7,448,216 Common Shares stated by Issuer as being outstanding as of October 17, 2023 in the Issuer’s October 2023 6-K. Sphinx has the sole power to vote or direct the vote of 0 Common Shares; has the shared power to vote or direct the vote of 828,999 Common Shares; has the sole power to dispose or direct the disposition of 0 Common Shares; and has the shared power to dispose or direct the disposition of 828,999 Common Shares. Maryport has the sole power to vote or direct the vote of 0 Common Shares; has the shared power to vote or direct the vote of 828,999 Common Shares; has the sole power to dispose or direct the disposition of 0 Common Shares; and has the shared power to dispose or direct the disposition of 828,999 Common Shares. Mr. Economou has the sole power to vote or direct the vote of 0 Common Shares; has the shared power to vote or direct the vote of 828,999 Common Shares; has the sole power to dispose or direct the disposition of 0 Common Shares; and has the shared power to dispose or direct the disposition of 828,999 Common Shares. (c) Other than as described herein or on Exhibit 99.2 (as amended and restated and filed herewith), which is incorporated herein by reference, no transactions of Common Shares were effected by the Reporting Persons during the past 60 days. (d) Except as set forth above in this Item 5, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Shares. (e) Not applicable.” Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

of the Initial 13D is hereby supplemented

Item 6 of the Initial 13D is hereby supplemented by adding the following paragraph to the end thereof: The responses to Items 3 and 4 of Amendment No. 8 to the Initial 13D are incorporated herein by reference. Except as disclosed in this Schedule 13D, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the Reporting Persons and between the Reporting Persons and any other person with respect to any securities of the Issuer, including but not limited to, transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies. Item 7. Material to be Filed as Exhibits. Exhibit 99.1 Joint Filing Agreement, dated September 28, 2023, by and among the Reporting Persons.* Exhibit 99.2 Trading Data * Previously filed

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: January 23, 2024 SPHINX INVESTMENT CORP. By: Levante Services Limited By: /s/ Kleanthis Costa Spathias Kleanthis Costa Spathias Director Date: January 23, 2024 MARYPORT NAVIGATION CORP. By: Levante Services Limited By: /s/ Kleanthis Costa Spathias Kleanthis Costa Spathias Director Date: January 23, 2024 GEORGE ECONOMOU By: /s/ George Economou George Economou

View Full Filing

View this SC 13D/A filing on SEC EDGAR