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Breaking News: Diana Shipping Inc. Launches Self-Tender Offer to Acquire 15 Million Shares!

Breaking News: Diana Shipping Inc. Launches Self-Tender Offer to Acquire 15 Million Shares!

by [Your Name] | December 2, 2024

ATHENS, Greece, Dec. 02, 2024 (GLOBE NEWSWIRE) — Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, has made a significant announcement today. The Company has decided to commence a tender offer to purchase up to 15,000,000 shares, which represents about 12.0% of its outstanding common stock. This move will be funded by cash and cash equivalents on hand at a price of $2.00 per share.

The tender offer is set to expire at the end of the day, 5:00 P.M., Eastern Time, on December 31, 2024, unless extended or withdrawn. The decision to repurchase shares at this time was made by the Board of Directors based on the Company’s cash position and stock price. It is important to note that the tender offer is not conditioned upon any minimum number of shares being tendered.

Shareholders will receive detailed instructions and an explanation of the terms and conditions of the tender offer in the Offer to Purchase and related materials that will be sent out shortly.

Effect on Individuals:

As a shareholder of Diana Shipping Inc., this self-tender offer could impact your investment in the company. It is important to carefully review the terms and conditions outlined in the Offer to Purchase to make an informed decision about whether or not to tender your shares.

Effect on the World:

The launch of this self-tender offer by Diana Shipping Inc. could have broader implications for the shipping industry and financial markets as a whole. It signals the Company’s confidence in its financial position and may influence investor sentiment towards the stock and the industry as a whole.

Conclusion:

This self-tender offer by Diana Shipping Inc. marks a significant development for the Company and its shareholders. It will be interesting to see how this decision plays out in the coming weeks and what impact it will have on the shipping industry and financial markets.

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