DealsJun 8, 2026, 09:06 AM
Ocean Power Technologies Prices $10M Stock and Warrant Offering
AI Summary
Ocean Power Technologies, Inc. announced the pricing of a registered direct offering of 25,000,000 shares of common stock and accompanying common warrants to purchase up to 25,000,000 shares of common stock. The combined purchase price is $0.40 per share and accompanying warrant, expected to generate gross proceeds of $10.0 million. The company intends to use the net proceeds for working capital and general corporate purposes. The offering was made under a previously effective shelf registration statement.
Key Highlights
- Ocean Power Technologies priced a registered direct offering of 25 million shares and warrants at $0.40 per unit.
- The offering is expected to raise gross proceeds of $10.0 million.
- Net proceeds will be used for working capital and general corporate purposes.
- The common warrants are exercisable at $0.40 per share, beginning six months after issuance, and expire six years after the exercise date.
- The offering was made pursuant to a shelf registration statement on Form S-3.
Price Impact
More from OPTT