Diana Shipping Inc 6-K, filed Jun 23, 2021
Diana Shipping Inc. (DSX)
6-K
2021-06-23
For: 2021-06-30
View Original
Added on
April 08, 2026
About this 6-K
Diana Shipping Inc filed this 6-K on June 23, 2021.
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
WASHINGTON, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2021
Commission File Number: 001-32458
DIANA SHIPPING INC.
(Translation of registrant’s name into English)
(Translation of registrant’s name into English)
Pendelis 16, 175 64 Palaio Faliro, Athens, Greece
(Address of principal executive office)
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ].
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide
an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ].
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a
report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under
the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if
discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
On June 22, 2021, Diana Shipping Inc. (the “Company”) issued 400 shares of its newly-designated Series D Preferred Stock, par value $0.01 per share, to
Tuscany Shipping Corp., an entity controlled by its Chief Executive Officer, Mrs. Semiramis Paliou, for an aggregate purchase price of $360,000. The Series D Preferred Stock has no dividend or liquidation rights. The Series D Preferred Stock will
vote with the common shares of the Company, and each share of the Series D Preferred Stock shall entitle the holder thereof to up to 100,000 votes, on all matters submitted to a vote of the stockholders of the Company, subject to a maximum number of
votes eligible to be cast by such holder derived from the Series D Preferred Shares and any other voting security of the Company held by the holder to be equal to the lesser of (i) 36% of the total number of votes entitled to vote on any
matter put to shareholders of the Company and (ii) the sum of the holder’s aggregate voting power derived from securities other than the Series D Preferred Stock and 15% of the total number of votes entitled to be cast on matters put to shareholders
of the Company. The Series D Preferred Stock is transferable only to the holder’s immediate family members and to affiliated persons. The issuance of shares of Series D Preferred Stock to Tuscany Shipping Corp. was approved by an independent
committee of the Board of Directors of the Company, which received a fairness opinion from an independent third party that the transaction was fair from a financial point of view to the Company.
Attached to this report on Form 6-K as Exhibit 3.1 is a copy of the Statement of Designation of Rights, Preferences and Privileges of Series D Preferred Stock of
the Company.
The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company's registration statement on Form F-3 (File No.
333-225964), filed with the U.S. Securities and Exchange Commission with an effective date of July 26, 2018.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
DIANA SHIPPING INC.
(registrant)
|
Dated: June 23, 2021
|
By:
|
/s/ Anastassis Margaronis
|
|
| Anastassis Margaronis | |||
| President |
Exhibit 3.1
 |
STATEMENT OF DESIGNATIONS
OF DIANA SHIPPING INC. Reg. No. 13671 |
|
Pursuant to Section 35(5) of the Business Corporations Act
|
|
|
REPUBLIC OF THE MARSHALL ISLANDS
REGISTRAR OF CORPORATIONS |
|
|
DUPLICATE COPY
|
|
|
The original of this Document was
|
|
|
FILED ON
|
|
|
NON RESIDENT
|
|
 |
|
|
June 22, 2021
|
|
|
/s/ Cynthia Ro
|
|
|
Cynthia Ro
Deputy Registrar
|
|
|
|
|
STATEMENT OF DESIGNATION OF RIGHTS, PREFERENCES
AND PRIVILEGES OF SERIES D PREFERRED STOCK OF DIANA SHIPPING INC.
(the “Company”)
Section 1. Designation and Amount. The shares of such series shall be designated as “Series
D Preferred Stock”. The Series D Preferred Stock shall have a par value of $0.01 per share, and the number of shares constituting such series shall initially be four hundred (400) which number the Board may increase or decrease (but not to less
than the number of shares of Series D Preferred Stock then outstanding) from time to time.
Section 2. No Proportional Adjustment. In the event the Company shall at any time after the
issuance of any share or shares of Series D Preferred Stock (i) declare any dividend on the common stock of the Company, par value $0.01 per share (the “Common Stock”), payable in shares of Common Stock, (ii) subdivide the outstanding Common
Stock or (iii) combine the outstanding Common Stock into a smaller number of shares, there shall be no adjustment to the number of outstanding shares of Series D Preferred Stock.
Section 3. Dividends and Distributions. The Series D Preferred Stock shall not have dividend
or distribution rights.
Section 4. Voting Rights. The holders of shares of Series D Preferred Stock shall have the
following voting rights:
(a) Each share of Series D Preferred Stock shall entitle the holder thereof to one hundred thousand
(100,000) votes on all matters submitted to a vote of the stockholders of the Company, provided however, that, notwithstanding any other provision of this Statement of Designation, to the extent that the
total number of votes one or more holders of Series D Preferred Stock is entitled to vote (including any voting power of such holders derived from Series D Preferred Stock, shares of Common Stock or any other voting security of the Company issued and
outstanding as of the date hereof or that may be issued in the future) on any matter submitted to a vote of stockholders of the Company would exceed 36.0% of the total number of votes eligible to be cast on such matter, the total number of votes that
holders of Series D Preferred Stock may exercise derived from the Series D Preferred Stock together with Common Shares and any other voting securities of the Company beneficially owned by such holder, shall be reduced to the lesser of (i) 36% of the total number of votes that may be cast on such matter submitted to a vote of stockholders and (ii) the sum of (A) the voting power represented by all common shares or other securities of the Company (other
than shares of the Series D Preferred Stock) held by the holder or holders of the Series D Preferred Stock measured as of the record date for any matter to be submitted to a vote of stockholders of the Company and (B) 15% of the total number of votes
that may be cast on such matter submitted to a vote of stockholders.
(b) For purposes of this Section 4, a holder of Series D Preferred Stock shall include each
“beneficial owner” of such Series D Preferred Stock, as determined in accordance with Section 13d-3 of the Securities Exchange Act of 1934, as amended, together with any person or entity that, directly or indirectly through one or more
intermediaries, controls, or is controlled by, or is under common control with, such beneficial owner.
(c) Except as otherwise provided herein or by law, the holders of Series D Preferred Stock and the holders of shares of
Common Stock shall vote together as one class on all matters submitted to a vote of stockholders of the Company.
(d) Except as required by law, holders of Series D Preferred Stock shall have no special voting rights and their consent
shall not be required (except to the extent they are entitled to vote with holders of Common Stock as set forth herein) for taking any corporate action.
Section 5. Transfer Restrictions. The shares of Series D Preferred Stock shall not be transferable by any holder
except to a member of such holder’s immediate family or to another person or entity that, directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, such holder or with the prior written
consent of the Company.
Section 6. Reacquired Shares. Any shares of Series D Preferred Stock purchased or otherwise acquired by the
Company in any manner whatsoever shall be retired and canceled promptly after the acquisition thereof All such shares shall upon their cancellation become authorized but unissued shares of preferred stock and may be reissued as part of a new series
of preferred stock to be created by resolution or resolutions of the Board of Directors of the Company, subject to the conditions and restrictions on issuance set forth herein and in the Articles of Incorporation of the Company, as then amended.
Section 7. Liquidation, Dissolution or Winding Up. The shares of Series D Preferred Stock shall have no
liquidation rights upon any liquidation, dissolution or winding up of the Company.
Section 8. Consolidation, Merger, etc. In case where the Company shall enter into any consolidation, merger,
combination or other transaction in which the shares of Common Stock are exchanged for or changed into other stock or securities, cash and/or any other property, then in any such case the shares of Series D Preferred Stock shall at the same time be
similarly exchanged or changed in an amount per share equal to the aggregate amount of stock, securities, cash and/or any other property (payable in kind), as the case may be, into which or for which each share of Common Stock is changed or
exchanged.
Section 9. No Redemption. The shares of Series D Preferred Stock shall not be redeemable.
Section 10. Amendment. The Articles of Incorporation of the Company shall not be further amended in any manner
which would materially alter or change the powers, preference or special rights of the Series D Preferred Stock so as to affect them adversely without the affirmative vote of the holders of a majority of the outstanding shares of Series D Preferred
Stock, voting separately as a class.
Section 11. Fractional Shares. Series D Preferred Stock may not be issued in fractional shares.
Section 12. Notices. Any notice to be delivered hereunder shall be delivered (via overnight courier, facsimile or
email) to each holder at its last address as it shall appear upon the books and records of the Company at least ten (10) calendar days prior to the applicable record or effective date thereinafter specified.
Section 13. Severability. If any provision of this Statement of Designation is invalid, illegal or unenforceable,
the balance of this Statement of Designation shall remain in effect, and if any provision is inapplicable to any person or circumstance, it shall nevertheless remain applicable to all other persons and circumstances.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
IN WITNESS WHEREOF, this Statement of Designations is executed on behalf of the Company by its
Director, Chief Financial Officer, Chief Strategy Officer, Treasurer & Secretary on this 22nd day of June, 2021.
|
By:
|
/s/ Ioannis Zafirakis
|
|
|
Name:
|
Ioannis Zafirakis
|
|
|
Title:
|
Director, Chief Financial Officer, Chief Strategy Officer, Treasurer & Secretary
|