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Tag: OP

  • Optimism Launches its token OP

    Optimism Launches its token OP

    Ethereum (ETH) Layer 2 (L2) scaling arrangement Optimism has reported the send-off of OP token would additionally assist the drive advance toward a decentralized administration with organizing known as the Optimism Collective.

    Good faith Collective is a bicameral administration framework that worked to push the L2 arrangement toward a practical decentralized biological system. The aggregate will be administered correspondingly by two substances, the Citizens’ House and the Token House.

    The Token House will be represented by Optimism’s new OP token, which will be airdropped to early clients. In a blog entry, the L2 arrangement itemized that there won’t be one airdrop, however “a whole time of airdrops,” with the first scheduled to come in the second quarter of the year.

    Good faith likewise shared a rundown of models for airdrop qualification, which shows that early clients of the L2, early DAO citizens, and, surprisingly, in excess of 24,000 Gitcoin givers, among others, will likewise be incorporated. Altogether, north of 250,000 addresses will be qualified for the main airdrop.

    Idealism added that OP token holders will actually want to decide on convention redesigns, and project motivations as a piece of a Governance Fund, from there, the sky is the limit.

    With regards to token dispersion, 5% of the coin, which has an absolute stock of almost 4.3bn, will be conveyed in the main airdrop – and an extra 14% has been allotted to the future airdrops. All OP tokens will open for 4 years.

    Idealism is an Ethereum Layer 2 arrangement that involves Optimistic Rollups innovation to handle exchanges in bunches, subsequently decreasing gas expenses. Layer 1 (L1) is the base convention (the Ethereum blockchain), while Layer 2 (L2) is any convention based on top of Ethereum.

    Since its send-off in 2021, Optimism saw a burst in fame, drawing in major decentralized finance (DeFi) projects like Uniswap (UNI) and Synthetix (SNX), a convention for manufactured crypto resources.

  • Receipt of NASDAQ Notification: OceanPal Inc. (OP) Stock Dropped in Premarket.

    OceanPal Inc. (OP) is a leading international shipping transportation solutions provider via its vessels. Its cargo vessels transport huge quantities of dry bulk including iron ore, coal, and grain along with other products on global routes. Its vessels will be employed on a short-term basis after the completion of current assignments.

    OP stock price in the regular trading on March 11, 2022, nose-dived by 15.4% to be $0.74. Its price further dropped by 8.37% at the last check of the premarket session of March 14, 2022.

    OP: Events and Happenings

    On March 11, 2022, OP reported a notification receipt from The Nasdaq Stock Market on March 8, demonstrating the company’s common stock non-compliance of the minimum bid price for 30 consecutive days. The price was below the least per share bid price obligation of $1.00.

    On March 02, 2022, OP announced its entry into a time charter agreement for the company’s Panamax dry bulk vessel, the Calipso, with Tongli Shipping Pte. Ltd. The net charter rate of the vessel per day was $24,500 with the deduction of a 5% commission paid to the meditators. The charter began on March 9.

    On March 01, 2022, OP updated that the date of its preliminary annual stockholder’s meeting is March 31, 2022. On January 21, 2022, OP informed the press about the public offering of its underwritten shares consisting of 15,571,429 cohorts at a per cohort price of $0.77. Each cohort consisted of one common stock share and one warrant for the acquisition of one common stock share. Additionally, the stockholders sold 628,571 common stock shares. The net proceeds from the offering are estimated to be $11.9 million from the offering for general and corporate purposes.

    OP: Key Financials

    As the company had commenced the trading of its shares on NASDAQ in November 2021, it has not yet filed the financial statement.

    Conclusion

    OP stock is plunging 85% over the last year as the world was facing pandemic restrictions. The recent fall in the company’s stock is likely attributed to the receipt of minimum bid price notification by it. The company should attract feasible investors to gain some points in the stock market.

  • OceanPal Inc (OP) stock is soaring in the after-market. Here’s why

    OceanPal Inc (OP) stock is soaring in the after-market. Here’s why

    The stock of OceanPal Inc (OP) closed the regular trading session at $0.625, gaining 13.66% from the previous trading session. On the last check, the stock of OP remained bullish in the after-market, gaining 14.4% to $0.715. OP stock kept moving between $0.53 and $0.69. The company declared the agreement for m/v Calipso. OP also filed for form 6-K with the SEC on 2 March 2022.

    OceanPal Inc. is a worldwide supplier of ocean-going transportation administrations. The firm’s vessels at present covey a bunch of dry mass cargoes. This includes products such as iron metal, coal, grain, and different materials along overall delivery paths. Currently, OceanPal Inc (OP) has a fleet of 2 Panamax carriers that include 1 protef and 6 calipso. Also, the company has a capsize carrier which includes one in Salt Lake City. OP has a market capitalization of $5.51 million with 8.82 million shares pending. The company has its headquarter in Athens, Greece.

    OP News

    On 2 March 2022, the firm declared to have entered a time contract for m/v Calipso, with another shipping company, Tongli Shipping. m/v Calipso is a Panamax dry vessel of Tongli Shipping. The total agreement charge is $24,500 each day. The mediator will get a 5% portion, for a time of 90 days. The contract will begin on March 9, 2022. The m/v Calipso is at present leased, at a gross contract charge of $17,850 each day, and a 5% commission paid to the mediator. The utilization of Calipso will produce roughly $2.21 million of total income for the booked time of the contract.

    It is anticipated that the OP’s vessels will be fundamentally utilized for a brief time and expedition sanctions following the finishing of their current jobs.

    Also, OP will hold a conference call for its investors on 31 March 2022.

  • Underwritten Public Offering: OceanPal Inc. (OP) stock Nosedives Premarket

    On January 21, OceanPal Inc. (OP) announced an underwritten public offering of US$12.5 million approximately. Consequently, the stock nosedived in the premarket at a heavy volume of 1.3 million shares.

    In the previous trading session, the stock varied between a high of $1.4500 and a low of $1.1201. OP stock closed the session with a loss of 20.27% at $1.1800. Following the announcement, the stock subtracted a further 37.28% premarket. Hence, Op was trading at $0.74 per share at the last check, in the premarket session.

    The global shipping transportation services provider, OceanPal Inc. has a market capitalization of $13.05 million. Currently, the company has 8.82 million shares outstanding in the market.

    OP’s Public Offering

    As per the announcement, the company has initiated an underwritten public offering of 15,571,429 units at US$0.77 per unit. Each unit consists of one common stock share and one Class A warrant to buy one common stock share, immediately separated upon issuance.

    Additionally, some of the affiliated stockholders with OP are also selling 628,571 common stock shares. Further, these shares will also be sold each combined with one Class A warrant for buying a common stock share.

    Moreover, the company’s expected gross proceeds are US$11,990,000, less discounts, commissions, and expenses. The net proceeds from the offering are intended for general corporate purposes along with potential future vessels acquisition. In addition, any of the proceeds from the sale of common stock share from the selling shareholders will not be received by the company.

    The expected closing of the offering is on or about January 25, 2022, owing to the customary conditions. And, the sole book-running manager for the offering is Maxim Group LLC.

    Additional Option

    Along with the original offering, a 45-day option for buying additional 2,430,000 common stock shares is granted by the company and the selling stockholders. Out of these, the first 1,148,577 may be bought from the selling shareholders and the following 1,281,423 may be bought from the company and/or the respective warrants. The price of these additional common stock shares is the same as the original offering.

    Recent News

    The company’s shares started trading on the Nasdaq Capital Market under “OP” on November 30, 2021. This happened right after the company completed its spin-off from Diana Shipping Inc., on November 29, 2021.

    Soon after it started trading on NASDAQ, the company announced a new short-term contract for its Panamax dry bulk vessel, the m/v Calipso, on December 03, 2021.