10:36 AM EST, 12/02/2024 (MT Newswires) -- Diana Shipping ( DSX ) said Monday it is launching a tender offer to purchase up to 15 million common shares at $2 per share.

The securities subject to the tender offer represent about 12% of the shipping company's outstanding common stock. The company said it will fund the offer using funds available from cash and cash equivalents on hand.

The offer is scheduled to expire Dec. 31, unless extended or withdrawn.

Diana Shipping ( DSX ) shares were up more than 7% in recent trading.

Price: 1.91, Change: +0.13, Percent Change: +7.30