Diana extends Genco offer at $27.34 per share

• Diana Shipping extended its tender offer to acquire the remaining Genco Shipping & Trading shares through July 24, 2026.
• Shareholders have tendered 11.08 million Genco shares, representing 29.7% of shares Diana does not already own.
• Diana’s offer values each Genco share at $27.34 through cash and Diana stock consideration.

Diana Shipping (NYSE:DSX) extended its tender offer to acquire all outstanding shares of Genco Shipping & Trading (NYSE:GNK) it does not already own through July 24, 2026, after shareholders tendered 11.08 million shares.

The extension follows Diana’s ongoing effort to acquire additional ownership in Genco, with the tendered shares representing 29.7% of Genco’s outstanding shares not already held by Diana.

Diana’s proposal remains valued at $27.34 per Genco share, consisting of $24.80 in cash and one Diana share valued at $2.54 based on Diana’s 30-day volume-weighted average price as of June 16, 2026.

The offer is supported by $1.412 billion in committed financing from six international banks and includes no financing condition.

Diana Shipping operates dry bulk vessels that transport commodities including iron ore, grain and other materials, while Genco Shipping & Trading operates a fleet of dry bulk vessels across global shipping markets.

Diana said the offer represents a 53% premium to Genco’s undisturbed share price and a 6% premium to Genco’s net asset value per share based on VesselsValue estimates.