Ocean Power Technologies, Inc.

Ocean Power Technologies highlighted its recent international activities in Europe, including completing customer training and maritime drone handover in Italy and Greece. The company also participated in the 11th National Maritime Security Forum in Warsaw, Poland, where its General Manager Arabian Gulf discussed maritime critical infrastructure protection. OPT was recognized for its involvement in Polish infrastructure security planning, reflecting its expanding international presence and role in maritime security.

Ocean Power Technologies, Inc. (OPT) announced the extension of its Section 382 Tax Benefits Preservation Plan, pushing the expiration date from June 29, 2026, to June 29, 2029. This action, unanimously approved by the Board, aims to protect the company's Net Operating Losses (NOLs) and other tax attributes from being limited by an "ownership change" under Section 382 of the Internal Revenue Code. The plan deters any entity from acquiring 4.99% or more of OPT's outstanding common stock without Board approval, and also adjusted the purchase price for Series A Preferred Stock Rights from $4 to $2.25 per Unit. The amendment will be submitted for stockholder ratification at the 2026 Annual Meeting.

Ocean Power Technologies, Inc. (OPT) announced that its Board of Directors unanimously approved the amendment and restatement of its Section 382 Tax Benefits Preservation Plan. The plan's expiration has been extended from June 29, 2026, to June 29, 2029. This extension aims to protect the availability and potential value of the company's federal net operating loss carryforwards (NOLs) and other tax attributes by deterring an "ownership change" under Section 382 of the Internal Revenue Code. The amendment will be submitted for stockholder ratification at the upcoming 2026 Annual Meeting.

Ocean Power Technologies announced the successful deployment and commissioning of a PowerBuoy system off the coast of New Jersey for Rutgers University, replacing a legacy ocean monitoring system. This system provides continuous offshore power and communications for ocean research and environmental monitoring. Additionally, the company received a purchase order from Stevens Institute of Technology for a WAM-V unmanned surface vehicle, further expanding its presence in the academic research market. Both developments highlight OPT's ability to convert projects into operational systems and demonstrate demand for its autonomous maritime solutions.

Ocean Power Technologies announced the successful field performance and power generation of its PowerBuoy® system, deployed for U.S. Coast Guard maritime domain awareness operations off San Diego. The system generated nearly 0.5MWh of energy, validating OPT's technology and operational capabilities for defense and security applications, including integration with Anduril's AI system. Additionally, the company granted 65,000 restricted stock units as an inducement award to Rob O’Malley, the newly hired U.S. Defense Senior Director of Business Development.

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.

Ocean Power Technologies announced it has entered into securities purchase agreements with institutional investors for a registered direct offering. The offering involves the sale of 25,000,000 shares of common stock and common warrants to purchase an equal number of shares at a combined price of $0.40 per share and warrant. This transaction is expected to generate approximately $10.0 million in gross proceeds, which the company plans to use for working capital and general corporate purposes. The offering was priced at a premium to yesterday's closing price and is expected to close around June 8, 2026.

Ocean Power Technologies, Inc. announced the continued expansion of its international defense engagement activities across Europe, with recent focus on Poland and Norway. The company engaged with the Polish Naval Academy and defense stakeholders to discuss maritime security and autonomous systems. OPT is also preparing for demonstrations of its WAM-V® unmanned surface vehicles in Norway, aiming to enhance maritime awareness and operational readiness for allied nations.

Ocean Power Technologies (OPT) announced a significant expansion of its global deployment footprint for its marine power and data solutions. In the U.S., PowerBuoy deployments increased from one to five concurrent systems, supporting various government and research customers, including the Department of Homeland Security and the U.S. Navy. Internationally, OPT continues to expand with three WAM-V autonomous surface vehicles and one PowerBuoy deployed in the United Arab Emirates, alongside additional WAM-V deployments in Taiwan and other regions. This expansion reflects growing demand for persistent offshore monitoring and autonomous maritime capabilities.

Ocean Power Technologies (OPT) announced the active deployment of three PowerBuoy® systems supporting U.S. Department of Homeland Security (DHS) maritime surveillance operations. All units are simultaneously transmitting real-time data as a distributed offshore network, providing persistent data collection and continuous communications. One PowerBuoy is operating in deep-water conditions exceeding 1,000 meters, demonstrating the platform’s capability in harsh environments. The systems are integrated with Anduril Industries’ Lattice platform, enabling real-time ingestion of offshore sensor data into operational workflows as part of OPT's ongoing DHS program.