Economou Amends OceanPal Stake

TL;DR

**Economou just updated his OceanPal Inc. stake, watch for potential shifts!**

AI Summary

George Economou, through various entities including Maryport Navigation Corp. and Sphinx Investment Corp., filed an Amendment No. 9 to Schedule 13D for OceanPal Inc. on February 22, 2024. This filing indicates a change in beneficial ownership of OceanPal Inc.'s Common Shares, par value $0.01 per share. The filing was made by George Economou, whose mailing address is 80 Kifissias Avenue, Amaroussion, J3 15125.

Why It Matters

This filing updates the public record on a significant shareholder's position in OceanPal Inc., potentially signaling changes in control or influence over the company's operations and strategic direction.

Risk Assessment

Risk Level: medium — Changes in significant shareholder ownership can introduce uncertainty regarding future company strategy or potential activist involvement.

Key Numbers

• $0.01 — Par Value per Share (Common Shares of OceanPal Inc.)

Key Players & Entities

• George Economou (person) — Filing person and beneficial owner
• OceanPal Inc. (company) — Subject company of the filing
• Maryport Navigation Corp. (company) — Group member associated with the filing person
• Sphinx Investment Corp. (company) — Group member associated with the filing person
• $0.01 (dollar_amount) — Par value per share of OceanPal Inc. Common Shares

FAQ

Key Financial Figures

• $0.01 — e of Issuer) Common Shares, par value $0.01 per share (Title of Class of Securiti
• $167,334 — on Shares for a total purchase price of $167,334 including fees and expenses. The source

Filing Documents

• tm247151d1_sc13da.htm (SC 13D/A) — 48KB
• tm247151d1_ex99-2.htm (EX-99.2) — 56KB
• 0001104659-24-027237.txt ( ) — 105KB

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 23, 2024, through and including February 22, 2024, Sphinx purchased an additional 69,908 Common Shares for a total purchase price of $167,334 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 898,907 Common Shares (the “ Subject Shares ”) reported herein, which represent approximately 12.1% of Issuer’s outstanding Common Shares, based on the 7,448,216 Common Shares 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 898,907 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 898,907 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 898,907 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 898,907 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 898,907 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 898,907 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: February 26, 2024 SPHINX INVESTMENT CORP. By: Levante Services Limited By: /s/ Kleanthis Costa Spathias Kleanthis Costa Spathias Director Date: February 26, 2024 MARYPORT NAVIGATION CORP. By: Levante Services Limited By: /s/ Kleanthis Costa Spathias Kleanthis Costa Spathias Director Date: February 26, 2024 GEORGE ECONOMOU By: /s/ George Economou George Economou

View Full Filing

View this SC 13D/A filing on SEC EDGAR