Diana Shipping Inc. Announces Extension of Tender Offer for All Outstanding Shares of Genco Shipping & Trading

Diana Shipping extended its tender offer to acquire Genco Shipping to July 24, 2026. As of July 10, 11.1 million shares (29.7% of outstanding shares not owned by Diana) have been tendered. Diana's offer of $27.34 per share ($24.80 cash plus one Diana share) remains on the table, representing a 53% premium to Genco's undisturbed share price. Diana has secured $1.412 billion in committed financing but states the transaction cannot proceed through tender offer alone and requires good faith negotiations between both leadership teams.