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Diana Shipping issues tender offer amendment

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Dry Bulk,

Diana Shipping Inc. is amending its previously announced tender offer to purchase up to 1 408 450 shares of its outstanding common stock at a price of US$3.55 per share. Under the amended terms, the company is now offering to purchase up to 2 816 900 shares of its common stock at the same price of US$3.55 per share. The company is also extending the expiration date of the tender offer. The tender offer, which was previously set to expire at 5:00 P.M., Eastern Time, on 4 October 2019, is now set to expire at 11:59 P.M., Eastern Time, on 11 October 2019, unless further extended or withdrawn. The tender offer otherwise remains subject to all previously announced terms and conditions.

Computershare Trust Company, N.A., the depositary for the offer, has advised the company that as of the close of business, New York City time, on 27 September 2019, the last business day prior to the announcement of the extension of the offer, 1 937 943.1053 shares have been validly tendered pursuant to the offer and not properly withdrawn.

Stockholders who have previously validly tendered and not withdrawn their shares do not need to re-tender their shares or take any other action in response to the extension of the offer. The terms and conditions of the offer, prior to the amendment described in this release, were set forth in the company’s ‘offer to purchase’ dated 6 September 2019 (as amended by Supplement No. 1 to the offer to purchase dated 12 September 2019) and ‘letter of transmittal’ dated 6 September 2019, and the other related materials that the company distributed to stockholders, which were filed with the Securities and Exchange Commission (SEC) as exhibits to the company’s schedule TO on 6 September 2019 (as amended by Amendment No. 1 to the schedule TO dated 12 September 2019).

Diana Shipping Inc. retained Computershare Trust Company, N.A. as the depositary for the offer and Georgeson LLC as the information agent.

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