{"success":true,"data":{"pressRelease":{"id":"68246","rtpr_id":"nGNX9XlfCk","ticker":"DSX","exchange":"NYSE","all_tickers":["DSX","GNK"],"title":"Diana Shipping Inc. Reaffirms Offer to Acquire Genco Shipping & Trading","author":"Globe Newswire","published_at":"2026-06-18T20:59:35.125Z","article_body":"The Genco Board Has a Responsibility to Deliver on its Commitments to Create\nValue for Shareholders\n\nUrges the Genco Board to Engage in Good Faith with Respect to Diana's Offer of\n$27.34 Per Share, Comprised of $24.80 in Cash and One Diana Share\n\nATHENS, Greece, June 18, 2026 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE:\nDSX) (“Diana” or “the Company”), a global shipping company\nspecializing in the ownership and bareboat charter-in of dry bulk vessels that\nis the largest shareholder of Genco Shipping & Trading Limited (NYSE: GNK)\n(“Genco”), today reaffirmed its commitment to its offer to acquire Genco.\nOn June 17, 2026, Diana increased its offer to acquire all outstanding shares\nof Genco not already owned by Diana to a total implied value of $27.34 per\nshare, comprised of $24.80 per share in cash plus one Diana share valued at\n$2.54 based on Diana's volume-weighted average price per share for the 30 days\nended on June 16, 2026 (the \"Revised Offer\").\n\nThe Revised Offer represents a 53% premium to Genco's undisturbed share price\nand a 6% premium to Genco's net asset value per share based on VesselsValue\ndata, at cyclically high drybulk asset values that are at or near 15-year\nhighs.\n\nNow that the Genco Board has been reelected, it bears a clear and heightened\nresponsibility to deliver to all shareholders the significant value and\ndividends that it promised during the recent proxy campaign.\n\nSemiramis Paliou, Diana's Chief Executive Officer, commented:\n\n\"Today's outcome does not — and will not — in any way diminish our\ncommitment to acquiring Genco and delivering attractive value to all\nshareholders. We have spent more than six months making the case that our\noffer represents compelling and certain value for Genco shareholders, but the\nGenco Board has rejected our offer three times without meaningful engagement,\na counterproposal, or a credible alternative path to value creation.\n\n\"As Genco's largest shareholder, Diana will continue to seek to maximize value\non behalf of all shareholders. We are grateful to Genco shareholders for\nengaging in thoughtful discourse with us over the past several months, and we\nencourage all shareholders to join us in continuing to hold the Board and\nmanagement team accountable. Our door remains open, and we are eager and\navailable to engage with respect to the attractive offer we have proposed.\"\n\nAbout Diana Shipping Inc.\n\nDiana Shipping Inc. (“Diana”) (NYSE: DSX) is a global provider of shipping\ntransportation services through its ownership and bareboat charter-in of dry\nbulk vessels. Diana’s vessels are employed primarily on short to medium-term\ntime charters and transport a range of dry bulk cargoes, including such\ncommodities as iron ore, coal, grain and other materials along worldwide\nshipping routes.\n\nAbout Star Bulk Carriers Corp.\n\nStar Bulk Carriers Corp. (“Star Bulk”) is a global shipping company\nproviding worldwide seaborne transportation solutions in the dry bulk sector.\nStar Bulk’s vessels transport major bulks, which include iron ore, minerals\nand grain, and minor bulks, which include bauxite, fertilizers and steel\nproducts. Star Bulk was incorporated in the Marshall Islands on December 13,\n2006 and maintains executive offices in Athens, New York, Stamford and\nSingapore.\n\nCautionary Statement Regarding Forward-Looking Statements\n\nMatters discussed in this communication and other statements made by Diana or\nStar Bulk, as applicable, may constitute forward-looking statements. The\nPrivate Securities Litigation Reform Act of 1995 provides safe harbor\nprotections for forward-looking statements in order to encourage companies to\nprovide prospective information about their business. Forward-looking\nstatements include, but are not limited to, statements regarding the intent,\nbeliefs, expectations, objectives, goals, future events, performance or\nstrategies and other statements of Diana, Star Bulk or their respective\nmanagement teams, which are other than statements of historical facts.\n\nDiana and Star Bulk desire to take advantage of the safe harbor provisions of\nthe Private Securities Litigation Reform Act of 1995 and is including this\ncautionary statement in connection with this safe harbor legislation. These\nforward-looking statements relate to, among other things, Diana’s proposal\nto acquire Genco and the anticipated benefits of such a transaction, and\nDiana’s ability to finance such transaction. Forward looking statements can\nbe identified by words such as “believe,” “will,” “anticipate,”\n“intend,” “estimate,” “forecast,” “project,” “plan,”\n“potential,” “may,” “should,” “expect,” “pending” and\nsimilar expressions identify forward-looking statements.\n\nThe forward-looking statements in this press release and in other statements\nmade by Diana or Star Bulk, as applicable, are based upon various assumptions,\nmany of which are based, in turn, upon further assumptions, including without\nlimitation, management’s examination of historical operating trends, data\ncontained in Diana’s or Star Bulk’s records, Genco’s public filings and\ndisclosures and data available from third parties. Although Diana or Star\nBulk, as applicable, believes that these assumptions were reasonable when\nmade, because these assumptions are inherently subject to significant\nuncertainties and contingencies that are difficult or impossible to predict\nand are beyond their control, Diana or Star Bulk, as applicable, cannot assure\nyou that it will achieve or accomplish these expectations, beliefs or\nprojections.\n\nThe forward-looking statements in this communication are based on current\nexpectations, assumptions, and estimates, and are subject to numerous risks\nand uncertainties. These include, without limitation, risks relating to: (i)\nthe possibility that the proposed transaction may not proceed; (ii) the\nability to obtain regulatory or shareholder approvals, if required; (iii) the\nrisk that Genco’s Board of Directors or management may continue to oppose\nthe proposal or not respond to further attempted engagement by Diana; (iv)\nfailure to realize anticipated benefits of the transaction; (v) changes in the\nfinancial or operating performance of Diana, Star Bulk or Genco; (vi) the\npossibility that shareholders of Genco will not elect to tender their shares\nof common stock of Genco in connection with the Offer (as defined below) or\nthat the conditions to consummation of the Offer are not satisfied; and (vii)\ngeneral economic, market, and industry conditions. These and other risks are\ndescribed in documents filed by Diana with, or furnished by Diana to, the U.S.\nSecurities and Exchange Commission (“SEC”), including its Annual Report on\nForm 20-F for the fiscal year ended December 31, 2025, and its other\nsubsequent documents filed with, or furnished to, the SEC, and are described\nin documents filed by Star Bulk with, or furnished by Star Bulk to, the SEC,\nincluding its Annual Report on Form 20-F for the fiscal year ended December\n31, 2025, and its other subsequent documents filed with, or furnished to, the\nSEC. Neither Diana nor Star Bulk undertake any obligation to revise or update\nany forward-looking statement, or to make any other forward-looking\nstatements, whether as a result of new information, future events or\notherwise, except to the extent required by law.\n\nImportant Additional Information and Where to Find It\n\nDiana and certain other Participants (as defined below) have filed a\ndefinitive proxy statement and accompanying GOLD universal proxy card with the\nSEC to be used to solicit proxies for, among other matters, the election of\nDiana’s director nominees to the board of directors of Genco at Genco’s\n2026 Annual Meeting, the passage of Diana’s proposal to repeal, at Genco’s\n2026 Annual Meeting, by-laws of Genco not publicly disclosed by Genco on or\nprior to August 28, 2025 and a proposal that the board of directors of Genco\nconduct a process to explore strategic alternatives (such definitive proxy\nstatement and the accompanying universal GOLD proxy card are available here\n(https://www.globenewswire.com/Tracker?data=bmzs9ogCVEIooh1TNhZZnNbRs4rMBnMeZ6wgX5D8lUjR7i4cz4QS4ACV7e5gR3s-n6hYO4jB2MK-m3_T4LjR1qsipF9-iQL-g916ne_lAN4xisIxIeGpszs1QzTFqARYjT3kBiOsXE8YkwQ9AekeYg2MGcaZQ6WcLUPdM64WeJU=)\nand the supplement to Diana’s definitive proxy statement and updated\naccompanying GOLD universal proxy card are available here\n(https://www.globenewswire.com/Tracker?data=bmzs9ogCVEIooh1TNhZZnNa9FvcOKkEXFDBSQxltUTCEtIhnGvN4UGIT5fUHBVvIvUH-7YJoXmNgqJyfUuqYKTbmU8zWCgitZoZqR37IXMX4hMGdsZ6z8SgopKQIqHlNSiVvffRejpG_6-ghw4U3Omwb4RxciLROVXN8dNSUQTI=)).\n\nShareholders of Genco are strongly advised to read the Participants’ proxy\nstatement and other proxy materials, including the accompanying GOLD proxy\ncard, as they become available because they will contain important\ninformation. The Participants’ definitive proxy statement, and other proxy\nmaterials when filed, are available at no charge on the SEC’s website at\nwww.sec.gov.\n\nThe definitive proxy statement and other relevant documents filed by Genco\nwith the SEC are also available, without charge, by directing a request to\nDiana’s proxy solicitor, Okapi Partners LLC, at its toll-free number (855)\n305-0857 or via email at info@okapipartners.com.\n\nInformation Regarding the Offer\n\nOn May 4, 2026, Diana commenced a tender offer, through its wholly owned\nsubsidiary 4 Dragon Merger Sub Inc., to purchase all outstanding shares of\nGenco common stock at $23.50 per share in cash. On May 27, 2026, Diana\nincreased the offer price from $23.50 per share in cash to $24.80 per share in\ncash. On June 17, 2026, Diana increased its Offer to reflect an implied value\nof $27.34 per Genco share comprised of $24.80 in cash and one Diana share with\nan implied value of $2.54 based on Diana's 30-day VWAP as of June 16, 2026. To\nthe extent that Genco declares a cash dividend or other distribution on the\nGenco shares, the cash component of the offer price will be reduced by the\namount payable per share. Diana intends to file with the SEC an amended tender\noffer statement on Schedule TO and a registration statement on Form F-4\nreflecting the terms of its revised Offer. These materials, as may be amended\nfrom time to time, will contain important information, including the terms and\nconditions of the revised Offer. Shareholders of Genco are strongly advised to\nread Diana's amended tender offer statement, registration statement and other\noffer documents as they become available because they will contain important\ninformation regarding the revised offer. Diana's tender offer statement, offer\nto purchase and other offer documents, when filed, will be available at no\ncharge on the SEC's website at www.sec.gov.\n\nThe Offer is conditioned upon, among other things: (i) Genco entering into a\ndefinitive merger agreement with Diana substantially in the form of the merger\nagreement included with the Offer documents; (ii) Genco shareholders validly\ntendering a majority of Genco's outstanding shares on a fully diluted basis;\n(iii) the termination or inapplicability of Genco's shareholder rights plan;\n(iv) the Genco Board's approval of the transaction under certain affiliate\ntransaction provisions in Genco's charter, (v) Diana's registration statement\non Form F-4 being declared effective by the SEC, and (v) other customary\nconditions. Satisfaction of the merger agreement condition, the shareholder\nrights plan condition and the affiliate transaction condition is solely within\nthe control of Genco and the members of the Genco Board.\n\nIf the Offer is successfully completed, Diana intends to consummate a\nsecond-step merger as promptly as practicable, in which any remaining Genco\nshareholders who did not tender their shares in the Offer would receive the\nsame consideration that was paid in the Offer. As a result, if the Offer is\ncompleted and the second-step merger is consummated, all Genco shareholders\n— whether or not they tender their shares — would receive $24.80 per share\nin cash and one share of Diana. Importantly, shareholders who tender in the\nOffer may receive their consideration sooner than those whose shares are\nacquired in the second-step merger.\n\nRevised Offer Documents will be mailed to Genco shareholders.\n\nQuestions and requests for assistance regarding the Offer may be directed to\nOkapi Partners LLC, the information agent for the Offer, toll-free at (855)\n305-0857 or by email at info@okapipartners.com.\n\nCorporate Contact:\nMargarita Veniou\nChief Corporate Development, Governance &\nCommunications Officer and Board Secretary\nTelephone: + 30-210-9470-100\nEmail: mveniou@dianashippinginc.com\nWebsite: www.dianashippinginc.com\nX: @Dianaship\n\nInvestor Relations Contact:\nNicolas Bornozis / Daniela Guerrero\nCapital Link, Inc.\n230 Park Avenue, Suite 1540\nNew York, N.Y. 10169\nTel.: (212) 661-7566\nEmail: diana@capitallink.com\n\nBruce Goldfarb / Chuck Garske / Lisa Patel\nOkapi Partners\n(212) 297-0720\ninfo@okapipartners.com\n\nMedia Contact:\nMark Semer / Grace Cartwright\nGasthalter & Co.\nTel: (212) 257-4170\nDianaShipping@gasthalter.com\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX9XlfCk","title":"Diana Shipping Inc. Reaffirms Offer to Acquire Genco Shipping & Trading","author":"Globe Newswire","ticker":"DSX","created":"2026-06-18T20:59:35.125Z","tickers":["DSX","GNK"],"exchange":"NYSE","article_body":"The Genco Board Has a Responsibility to Deliver on its Commitments to Create\nValue for Shareholders\n\nUrges the Genco Board to Engage in Good Faith with Respect to Diana's Offer of\n$27.34 Per Share, Comprised of $24.80 in Cash and One Diana Share\n\nATHENS, Greece, June 18, 2026 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE:\nDSX) (“Diana” or “the Company”), a global shipping company\nspecializing in the ownership and bareboat charter-in of dry bulk vessels that\nis the largest shareholder of Genco Shipping & Trading Limited (NYSE: GNK)\n(“Genco”), today reaffirmed its commitment to its offer to acquire Genco.\nOn June 17, 2026, Diana increased its offer to acquire all outstanding shares\nof Genco not already owned by Diana to a total implied value of $27.34 per\nshare, comprised of $24.80 per share in cash plus one Diana share valued at\n$2.54 based on Diana's volume-weighted average price per share for the 30 days\nended on June 16, 2026 (the \"Revised Offer\").\n\nThe Revised Offer represents a 53% premium to Genco's undisturbed share price\nand a 6% premium to Genco's net asset value per share based on VesselsValue\ndata, at cyclically high drybulk asset values that are at or near 15-year\nhighs.\n\nNow that the Genco Board has been reelected, it bears a clear and heightened\nresponsibility to deliver to all shareholders the significant value and\ndividends that it promised during the recent proxy campaign.\n\nSemiramis Paliou, Diana's Chief Executive Officer, commented:\n\n\"Today's outcome does not — and will not — in any way diminish our\ncommitment to acquiring Genco and delivering attractive value to all\nshareholders. We have spent more than six months making the case that our\noffer represents compelling and certain value for Genco shareholders, but the\nGenco Board has rejected our offer three times without meaningful engagement,\na counterproposal, or a credible alternative path to value creation.\n\n\"As Genco's largest shareholder, Diana will continue to seek to maximize value\non behalf of all shareholders. We are grateful to Genco shareholders for\nengaging in thoughtful discourse with us over the past several months, and we\nencourage all shareholders to join us in continuing to hold the Board and\nmanagement team accountable. Our door remains open, and we are eager and\navailable to engage with respect to the attractive offer we have proposed.\"\n\nAbout Diana Shipping Inc.\n\nDiana Shipping Inc. (“Diana”) (NYSE: DSX) is a global provider of shipping\ntransportation services through its ownership and bareboat charter-in of dry\nbulk vessels. Diana’s vessels are employed primarily on short to medium-term\ntime charters and transport a range of dry bulk cargoes, including such\ncommodities as iron ore, coal, grain and other materials along worldwide\nshipping routes.\n\nAbout Star Bulk Carriers Corp.\n\nStar Bulk Carriers Corp. (“Star Bulk”) is a global shipping company\nproviding worldwide seaborne transportation solutions in the dry bulk sector.\nStar Bulk’s vessels transport major bulks, which include iron ore, minerals\nand grain, and minor bulks, which include bauxite, fertilizers and steel\nproducts. Star Bulk was incorporated in the Marshall Islands on December 13,\n2006 and maintains executive offices in Athens, New York, Stamford and\nSingapore.\n\nCautionary Statement Regarding Forward-Looking Statements\n\nMatters discussed in this communication and other statements made by Diana or\nStar Bulk, as applicable, may constitute forward-looking statements. The\nPrivate Securities Litigation Reform Act of 1995 provides safe harbor\nprotections for forward-looking statements in order to encourage companies to\nprovide prospective information about their business. Forward-looking\nstatements include, but are not limited to, statements regarding the intent,\nbeliefs, expectations, objectives, goals, future events, performance or\nstrategies and other statements of Diana, Star Bulk or their respective\nmanagement teams, which are other than statements of historical facts.\n\nDiana and Star Bulk desire to take advantage of the safe harbor provisions of\nthe Private Securities Litigation Reform Act of 1995 and is including this\ncautionary statement in connection with this safe harbor legislation. These\nforward-looking statements relate to, among other things, Diana’s proposal\nto acquire Genco and the anticipated benefits of such a transaction, and\nDiana’s ability to finance such transaction. Forward looking statements can\nbe identified by words such as “believe,” “will,” “anticipate,”\n“intend,” “estimate,” “forecast,” “project,” “plan,”\n“potential,” “may,” “should,” “expect,” “pending” and\nsimilar expressions identify forward-looking statements.\n\nThe forward-looking statements in this press release and in other statements\nmade by Diana or Star Bulk, as applicable, are based upon various assumptions,\nmany of which are based, in turn, upon further assumptions, including without\nlimitation, management’s examination of historical operating trends, data\ncontained in Diana’s or Star Bulk’s records, Genco’s public filings and\ndisclosures and data available from third parties. Although Diana or Star\nBulk, as applicable, believes that these assumptions were reasonable when\nmade, because these assumptions are inherently subject to significant\nuncertainties and contingencies that are difficult or impossible to predict\nand are beyond their control, Diana or Star Bulk, as applicable, cannot assure\nyou that it will achieve or accomplish these expectations, beliefs or\nprojections.\n\nThe forward-looking statements in this communication are based on current\nexpectations, assumptions, and estimates, and are subject to numerous risks\nand uncertainties. These include, without limitation, risks relating to: (i)\nthe possibility that the proposed transaction may not proceed; (ii) the\nability to obtain regulatory or shareholder approvals, if required; (iii) the\nrisk that Genco’s Board of Directors or management may continue to oppose\nthe proposal or not respond to further attempted engagement by Diana; (iv)\nfailure to realize anticipated benefits of the transaction; (v) changes in the\nfinancial or operating performance of Diana, Star Bulk or Genco; (vi) the\npossibility that shareholders of Genco will not elect to tender their shares\nof common stock of Genco in connection with the Offer (as defined below) or\nthat the conditions to consummation of the Offer are not satisfied; and (vii)\ngeneral economic, market, and industry conditions. These and other risks are\ndescribed in documents filed by Diana with, or furnished by Diana to, the U.S.\nSecurities and Exchange Commission (“SEC”), including its Annual Report on\nForm 20-F for the fiscal year ended December 31, 2025, and its other\nsubsequent documents filed with, or furnished to, the SEC, and are described\nin documents filed by Star Bulk with, or furnished by Star Bulk to, the SEC,\nincluding its Annual Report on Form 20-F for the fiscal year ended December\n31, 2025, and its other subsequent documents filed with, or furnished to, the\nSEC. Neither Diana nor Star Bulk undertake any obligation to revise or update\nany forward-looking statement, or to make any other forward-looking\nstatements, whether as a result of new information, future events or\notherwise, except to the extent required by law.\n\nImportant Additional Information and Where to Find It\n\nDiana and certain other Participants (as defined below) have filed a\ndefinitive proxy statement and accompanying GOLD universal proxy card with the\nSEC to be used to solicit proxies for, among other matters, the election of\nDiana’s director nominees to the board of directors of Genco at Genco’s\n2026 Annual Meeting, the passage of Diana’s proposal to repeal, at Genco’s\n2026 Annual Meeting, by-laws of Genco not publicly disclosed by Genco on or\nprior to August 28, 2025 and a proposal that the board of directors of Genco\nconduct a process to explore strategic alternatives (such definitive proxy\nstatement and the accompanying universal GOLD proxy card are available here\n(https://www.globenewswire.com/Tracker?data=bmzs9ogCVEIooh1TNhZZnNbRs4rMBnMeZ6wgX5D8lUjR7i4cz4QS4ACV7e5gR3s-n6hYO4jB2MK-m3_T4LjR1qsipF9-iQL-g916ne_lAN4xisIxIeGpszs1QzTFqARYjT3kBiOsXE8YkwQ9AekeYg2MGcaZQ6WcLUPdM64WeJU=)\nand the supplement to Diana’s definitive proxy statement and updated\naccompanying GOLD universal proxy card are available here\n(https://www.globenewswire.com/Tracker?data=bmzs9ogCVEIooh1TNhZZnNa9FvcOKkEXFDBSQxltUTCEtIhnGvN4UGIT5fUHBVvIvUH-7YJoXmNgqJyfUuqYKTbmU8zWCgitZoZqR37IXMX4hMGdsZ6z8SgopKQIqHlNSiVvffRejpG_6-ghw4U3Omwb4RxciLROVXN8dNSUQTI=)).\n\nShareholders of Genco are strongly advised to read the Participants’ proxy\nstatement and other proxy materials, including the accompanying GOLD proxy\ncard, as they become available because they will contain important\ninformation. The Participants’ definitive proxy statement, and other proxy\nmaterials when filed, are available at no charge on the SEC’s website at\nwww.sec.gov.\n\nThe definitive proxy statement and other relevant documents filed by Genco\nwith the SEC are also available, without charge, by directing a request to\nDiana’s proxy solicitor, Okapi Partners LLC, at its toll-free number (855)\n305-0857 or via email at info@okapipartners.com.\n\nInformation Regarding the Offer\n\nOn May 4, 2026, Diana commenced a tender offer, through its wholly owned\nsubsidiary 4 Dragon Merger Sub Inc., to purchase all outstanding shares of\nGenco common stock at $23.50 per share in cash. On May 27, 2026, Diana\nincreased the offer price from $23.50 per share in cash to $24.80 per share in\ncash. On June 17, 2026, Diana increased its Offer to reflect an implied value\nof $27.34 per Genco share comprised of $24.80 in cash and one Diana share with\nan implied value of $2.54 based on Diana's 30-day VWAP as of June 16, 2026. To\nthe extent that Genco declares a cash dividend or other distribution on the\nGenco shares, the cash component of the offer price will be reduced by the\namount payable per share. Diana intends to file with the SEC an amended tender\noffer statement on Schedule TO and a registration statement on Form F-4\nreflecting the terms of its revised Offer. These materials, as may be amended\nfrom time to time, will contain important information, including the terms and\nconditions of the revised Offer. Shareholders of Genco are strongly advised to\nread Diana's amended tender offer statement, registration statement and other\noffer documents as they become available because they will contain important\ninformation regarding the revised offer. Diana's tender offer statement, offer\nto purchase and other offer documents, when filed, will be available at no\ncharge on the SEC's website at www.sec.gov.\n\nThe Offer is conditioned upon, among other things: (i) Genco entering into a\ndefinitive merger agreement with Diana substantially in the form of the merger\nagreement included with the Offer documents; (ii) Genco shareholders validly\ntendering a majority of Genco's outstanding shares on a fully diluted basis;\n(iii) the termination or inapplicability of Genco's shareholder rights plan;\n(iv) the Genco Board's approval of the transaction under certain affiliate\ntransaction provisions in Genco's charter, (v) Diana's registration statement\non Form F-4 being declared effective by the SEC, and (v) other customary\nconditions. Satisfaction of the merger agreement condition, the shareholder\nrights plan condition and the affiliate transaction condition is solely within\nthe control of Genco and the members of the Genco Board.\n\nIf the Offer is successfully completed, Diana intends to consummate a\nsecond-step merger as promptly as practicable, in which any remaining Genco\nshareholders who did not tender their shares in the Offer would receive the\nsame consideration that was paid in the Offer. As a result, if the Offer is\ncompleted and the second-step merger is consummated, all Genco shareholders\n— whether or not they tender their shares — would receive $24.80 per share\nin cash and one share of Diana. Importantly, shareholders who tender in the\nOffer may receive their consideration sooner than those whose shares are\nacquired in the second-step merger.\n\nRevised Offer Documents will be mailed to Genco shareholders.\n\nQuestions and requests for assistance regarding the Offer may be directed to\nOkapi Partners LLC, the information agent for the Offer, toll-free at (855)\n305-0857 or by email at info@okapipartners.com.\n\nCorporate Contact:\nMargarita Veniou\nChief Corporate Development, Governance &\nCommunications Officer and Board Secretary\nTelephone: + 30-210-9470-100\nEmail: mveniou@dianashippinginc.com\nWebsite: www.dianashippinginc.com\nX: @Dianaship\n\nInvestor Relations Contact:\nNicolas Bornozis / Daniela Guerrero\nCapital Link, Inc.\n230 Park Avenue, Suite 1540\nNew York, N.Y. 10169\nTel.: (212) 661-7566\nEmail: diana@capitallink.com\n\nBruce Goldfarb / Chuck Garske / Lisa Patel\nOkapi Partners\n(212) 297-0720\ninfo@okapipartners.com\n\nMedia Contact:\nMark Semer / Grace Cartwright\nGasthalter & Co.\nTel: (212) 257-4170\nDianaShipping@gasthalter.com\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-06-18T20:59:35.182282546Z","server_sent_at_ms":1781816375182},"received_at":"2026-06-18T20:59:35.254Z","source_url":null},"analysis":{"id":"57660","press_release_id":"68246","analysis_json":{"industry":{"label":"Marine","sector":"Industrials"},"redFlags":["hostile tender offer (target board has rejected offer three times)","offer involves stock issuance (dilutive to DSX shareholders)","no definitive merger agreement signed"],"eventType":"m_and_a","narrative":"Diana Shipping (DSX) reaffirmed its revised offer to acquire Genco Shipping & Trading (GNK) at an implied value of $27.34 per share, consisting of $24.80 in cash and one share of Diana common stock.\n\nThe offer represents a 53% premium to Genco's undisturbed share price and a 6% premium to its net asset value, as the company urges the recently reelected Genco board to engage in good faith negotiations.\n\nDespite three previous rejections, CEO Semiramis Paliou stated the company's commitment remains undiminished, criticizing the Genco board for lacking a credible alternative path to value creation.","sentiment":"neutral","agentHooks":{"shouldPost":true,"suggestedAngle":"Diana Shipping (DSX) maintains hostile bid for Genco (GNK) at $27.34/share, urging board engagement."},"keyFigures":{"customDimensions":{"cash_component":"$24.80","premium_to_nav":"6%","stock_component_value":"$2.54","acquisition_price_per_share":"$27.34","premium_to_undisturbed_price":"53%"}},"quotedText":"Today's outcome does not — and will not — in any way diminish our commitment to acquiring Genco and delivering attractive value to all shareholders.","namedEntities":{"people":[{"name":"Semiramis Paliou","role":"Chief Executive Officer of Diana Shipping"},{"name":"Margarita Veniou","role":"Chief Corporate Development, Governance & Communications Officer and Board Secretary"},{"name":"Nicolas Bornozis","role":"Investor Relations Contact"},{"name":"Daniela Guerrero","role":"Investor Relations Contact"},{"name":"Bruce Goldfarb","role":"Okapi Partners"},{"name":"Chuck Garske","role":"Okapi Partners"},{"name":"Lisa Patel","role":"Okapi Partners"},{"name":"Mark Semer","role":"Media Contact"},{"name":"Grace Cartwright","role":"Media Contact"}],"products":["dry bulk vessels"],"companies":[{"name":"Genco Shipping & Trading Limited","ticker":"GNK","relationship":"target"},{"name":"Star Bulk Carriers Corp.","relationship":"related party mentioned in disclosures"},{"name":"4 Dragon Merger Sub Inc.","relationship":"wholly owned subsidiary of acquirer"},{"name":"Okapi Partners LLC","relationship":"information agent / proxy solicitor"},{"name":"VesselsValue","relationship":"data provider"}],"dollarAmounts":[{"amount":"$27.34","context":"implied value per Genco share in Revised Offer"},{"amount":"$24.80","context":"cash component per Genco share in Revised Offer"},{"amount":"$2.54","context":"implied value of one Diana share based on 30-day VWAP"}]},"materialImpact":{"score":5,"reasoning":"Reaffirmation of a hostile tender offer to acquire a publicly traded peer (GNK), representing a major corporate control event. The offer includes a mix of cash and stock and represents a significant premium to the target's undisturbed price."},"tickerRelevance":{"others":[{"ticker":"GNK","relevance":"target"}],"primary":"DSX"},"globalImportance":25,"audienceRelevance":20,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small_mid_cap","eventGravity":"m_a_hostile_offer","sectorWeight":"industrials"}},"event_type":"m_and_a","event_type_secondary":null,"sentiment":"neutral","material_impact_score":5,"narrative":"Diana Shipping (DSX) reaffirmed its revised offer to acquire Genco Shipping & Trading (GNK) at an implied value of $27.34 per share, consisting of $24.80 in cash and one share of Diana common stock.\n\nThe offer represents a 53% premium to Genco's undisturbed share price and a 6% premium to its net asset value, as the company urges the recently reelected Genco board to engage in good faith negotiations.\n\nDespite three previous rejections, CEO Semiramis Paliou stated the company's commitment remains undiminished, criticizing the Genco board for lacking a credible alternative path to value creation.","key_figures":{"customDimensions":{"cash_component":"$24.80","premium_to_nav":"6%","stock_component_value":"$2.54","acquisition_price_per_share":"$27.34","premium_to_undisturbed_price":"53%"}},"named_entities":{"people":[{"name":"Semiramis Paliou","role":"Chief Executive Officer of Diana Shipping"},{"name":"Margarita Veniou","role":"Chief Corporate Development, Governance & Communications Officer and Board Secretary"},{"name":"Nicolas Bornozis","role":"Investor Relations Contact"},{"name":"Daniela Guerrero","role":"Investor Relations Contact"},{"name":"Bruce Goldfarb","role":"Okapi Partners"},{"name":"Chuck Garske","role":"Okapi Partners"},{"name":"Lisa Patel","role":"Okapi Partners"},{"name":"Mark Semer","role":"Media Contact"},{"name":"Grace Cartwright","role":"Media Contact"}],"products":["dry bulk vessels"],"companies":[{"name":"Genco Shipping & Trading Limited","ticker":"GNK","relationship":"target"},{"name":"Star Bulk Carriers Corp.","relationship":"related party mentioned in disclosures"},{"name":"4 Dragon Merger Sub Inc.","relationship":"wholly owned subsidiary of acquirer"},{"name":"Okapi Partners LLC","relationship":"information agent / proxy solicitor"},{"name":"VesselsValue","relationship":"data provider"}],"dollarAmounts":[{"amount":"$27.34","context":"implied value per Genco share in Revised Offer"},{"amount":"$24.80","context":"cash component per Genco share in Revised Offer"},{"amount":"$2.54","context":"implied value of one Diana share based on 30-day VWAP"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-06-18T21:01:42.081Z","global_importance":25,"audience_relevance":20,"importance_components":{"tickerTier":"small_mid_cap","eventGravity":"m_a_hostile_offer","sectorWeight":"industrials"}},"durationMs":126811,"modelName":"george-droid-qwen-72b"}}