Shares of Diana Shipping spinoff OceanPal fell more than 11% in Thursday trading in New York after the owner announced it is seeking to raise $14.5m from a public share offering.
The public offering of 7.4m shares, underwritten by investment bank Maxim Group, would nearly double the shares count of the Nasdaq-listed company and see insiders Semiramis Paliou and Ioannis Zafirakis sell 1.78m
