OceanPal Secures $120M PIPE to Propel NEAR Protocol Adoption via SovereignAI Digital Asset Treasury Strategy

COINOTAG News, citing The Wall Street Journal, reports OceanPal Inc. has executed a $120 million PIPE to acquire common stock and/or pre-funded warrants, signifying a strategic move within a PIPE investment framework.

Net proceeds are designated for a digital asset treasury program via SovereignAI Services LLC, with a focus on commercializing the NEAR Protocol for AI-driven use cases.

The deal positions OceanPal as the principal public investment vehicle through SovereignAI, offering investors exposure to the NEAR token and the AI infrastructure that underpins autonomous business operations.

Overall, the transaction reflects disciplined capital allocation in crypto-enabled assets, aligning investor objectives with technological ecosystems that blend blockchain infrastructure and AI capabilities.