Diana Shipping Stock In Spotlight On Preliminary Results Of Tender Offer: Retail On Wait-And-Watch Mode

Shares of Diana Shipping Inc. (DSX) rose on Thursday after the firm announced the preliminary results of its tender offer to purchase up to 15 million shares of its common stock.

The firm, which specializes in the ownership and bareboat charter-in of dry bulk vessels, cited depositary Computershare Trust Company, N.A., to highlight that the total number of shares tendered in the offer stood at over 12.067 million.

Diana Shipping said that because the tender offer was undersubscribed according to the preliminary information received from the depositary, it will purchase all validly tendered shares from each tendering shareholder.

The shipping company also stated that the final results of the tender offer would be announced promptly after the confirmation process was completed.

In early December, the company announced that the shares would be purchased using funds available from cash and cash equivalents for $2 per share. The tender offer expired at 5:00 p.m. ET on Dec. 31, 2024.

On Stocktwits, retail sentiment trended in the ‘neutral’ territory (48/100) compared to ‘extremely bullish’ a month ago following the announcement.

DSX’s Sentiment Meter and Message Volume as of 12:33 p.m. ET on Jan. 1, 2025 | Source: Stocktwits

In November, the company reported its third-quarter results, with revenues falling over 7% year-over-year (YoY) to $57.49 million. Net income attributable to common stockholders declined 62% YoY to $2.27 million.

Meanwhile, shares of DSX have lost over 32% over the last year. The stock recently hit near four-year lows but pared some of the losses.

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