DIANA SHIPPING INC. 6,000,000 Shares of Common Stock UNDERWRITING AGREEMENT Dated: May 6, 2009Underwriting Agreement • May 12th, 2009 • Diana Shipping Inc. • Deep sea foreign transportation of freight • New York
Diana Shipping Inc., a corporation existing under the laws of the Republic of the Marshall Islands (the “Company”), proposes, subject to the terms and conditions stated herein, to issue and sell to the underwriters named in Schedule I hereto (the “Underwriters”) an aggregate of 6,000,000 shares (the “Firm Shares”) of the common stock, par value $0.01 per share, of the Company (the “Common Stock”) and, at the option of the Underwriters, up to an additional 900,000 shares of Common Stock. The 6,000,000 shares of Common Stock to be sold by the Company are herein referred to as the “Firm Shares” and, for the sole purpose of covering over-allotments in connection with the sale of the Firm Shares, at the option of the Underwriters, up to an aggregate of 900,000 additional shares of Common Stock to be sold by the Company (the “Additional Shares”). The Firm Shares and any Additional Shares purchased by the Underwriters are herein referred to as the “Shares.” The Shares are more fully described
