OceanPal Inc. Completes $120 Million PIPE Transaction to Enhance Digital Asset Strategy

According to BlockBeats, OceanPal Inc. has finalized a $120 million private investment in public equity (PIPE) transaction aimed at purchasing and selling common stock and/or pre-funded warrants. The company intends to use the net proceeds from this transaction to implement a digital asset treasury strategy through its wholly-owned subsidiary, SovereignAI Services LLC. SovereignAI focuses on commercializing the NEAR Protocol, a blockchain platform designed for artificial intelligence (AI) applications. With this transaction, OceanPal aims to position SovereignAI as a leading public investment tool, offering investors exposure to NEAR, the native token of the NEAR Protocol, and the essential AI infrastructure required to support autonomous commercial operations.