OceanPal completes $120 million financing and partners with NEAR Foundation to launch SovereignAI and digital asset treasury

ChainCatcher news, OceanPal Inc. announced today that it has completed a $120 million public company private investment in public equity (PIPE) transaction for the purchase and sale of common stock and/or pre-funded warrants.

The company plans to use the net proceeds from this transaction to implement a digital asset treasury strategy through its wholly-owned subsidiary SovereignAI Services LLC ("SovereignAI"), which focuses on the commercialization of NEAR Protocol, a blockchain platform designed for artificial intelligence (AI) use cases. Through this transaction, OceanPal expects to become a major public investment vehicle via SovereignAI, providing investors with exposure to NEAR (the native token of NEAR Protocol) and the foundational AI infrastructure required to support autonomous business operations.