OceanPal Inc. today announced the completion of a $120 million private equity investment (PIPE) transaction in a publicly traded company for the purchase and sale of common stock and/or pre-financed warrants. The company plans to use the net proceeds from the transaction to implement a digital asset treasury strategy through a wholly owned subsidiary, SovereignAI Services LLC ("SovereignAI"), which is focused on commercializing NEAR Protocol, a blockchain platform designed for artificial intelligence (AI) use cases.
With this transaction, OceanPal is expected to become a major public investment vehicle through SovereignAI, providing investors with exposure to NEAR (NEAR Protocol native token) and the underlying AI infrastructure required to support autonomous business operations.
OceanPal partners with NEAR Foundation for $120 million PIPE investment
2025-10-28 13:18:55
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