"OceanGate has suspended all exploration and commercial operations," the company said on its main web page.
In June, the OceanGate submersible, Titan, went missing during an expedition to the Titanic wreckage in an area about 900 miles east of Cape Cod in the North Atlantic, at a depth of approximately 13,000 feet. The five people on board the Titan included Rush, UK businessman Hamish Harding, French maritime expert Paul-Henri Nargeolet, and vice chairman of Pakistan’s Engro corporation Shahzada Dawood with his 19-year-old son Suleman.
Later, the US Coast Guard confirmed that the debris found on the ocean floor near the Titanic wreck site was pieces of the missing submersible. All five people aboard the Titan were presumed dead.