Abra Marinvest Amends OceanPal Stake Filing

TL;DR

Abra Marinvest filed an update on their OceanPal holdings - could be a big deal.

AI Summary

Abra Marinvest Inc. has amended its Schedule 13D filing for OceanPal Inc. as of August 23, 2024. This amendment, the fifth for the filing, indicates a change in the reporting person's stake or intentions regarding OceanPal Inc. stock. Specific details on the exact percentage change or new holdings are not provided in this excerpt.

Why It Matters

Changes in major shareholder filings like this can signal shifts in control or investment strategy, potentially impacting the stock price of OceanPal Inc.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's position or intentions, which can introduce volatility.

Key Numbers

• 5 — Amendment Number (Indicates this is the fifth update to the filing.)

Key Players & Entities

• Abra Marinvest Inc. (company) — Reporting Person
• OceanPal Inc. (company) — Subject Company
• Margarita Veniou (person) — Authorized Contact

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

• d11454321_13d-a.htm (SC 13D/A) — 111KB
• 0000919574-24-004988.txt ( ) — 112KB

From the Filing

SC 13D/A 1 d11454321_13d-a.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D/A THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 5)* 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) August 23, 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 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 788,864 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER 788,864 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 788,864 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.57% 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 788,864 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER 788,864 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 788,864 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.57% 14. TYPE OF REPORTING PERSON CO EXPLANATORY NOTE This Amendment No. 5 (the "Amendment No. 5") 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 March 7, 2024 (the "Schedule 13D"), as amended on March 14, 2024, March 28, 2024, April 29, 2024, and June 26, 2024, 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. 5 is being filed to report an increase 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. Item 1. Security and Issuer. This Amendment No.5 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.5 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"). Zafirakis and Abra are collectively referred to as the "Reporting Persons" Zafirakis is the owner of all of the issued and outstanding shares of Abra and may be deemed to have beneficial ownership of t

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