Diana Shipping Raises Proposed Acquisition Offer For Genco Shipping & Trading From $23.50 To $24.80/Share In Cash

Diana Shipping Inc. (NYSE:DSX) ("Diana" or the "Company"), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels that is the largest shareholder of Genco Shipping & Trading Limited (NYSE:GNK) ("Genco"), today announced that it has increased its previously announced offer to purchase all outstanding shares of common stock of Genco to $24.80 per share in cash from $23.50 per share in cash. In connection with the increased offer, Diana has extended the expiration of its tender offer for all the outstanding shares of Genco to 5:00 p.m., New York City time, on June 26, 2026, unless further extended. The terms of the offer are substantially similar in all other respects unless Genco declares a cash dividend or other distribution on the Genco shares with a record date prior to Diana's purchase of the shares, in which case the offer price will be reduced by the amount payable per share.