On October 27, 2025, OceanPal Inc. entered into agreements to sell 20,896,027 shares of common stock at $1.275 each, raising approximately $122.5 million, with plans to use the funds for acquiring NEAR tokens and general corporate purposes. The PIPE transaction closed on October 28, 2025, alongside management changes including the resignation of Chairperson Semiramis Paliou and the appointment of Salvatore Ternullo as Co-CEO.