Ocean Power Technologies, Inc.

Ocean Power Technologies, Inc. (OPTT) has filed an S-1/A amendment for a proposed offering of up to 9,375,000 shares of common stock along with an equal number of common warrants. The combined offering price is set at $0.64 per share and accompanying warrant, with an expected gross proceeds of $6,000,000 and net proceeds of approximately $5,640,000 after placement agent fees. The company, which specializes in Maritime Domain Awareness solutions, notes a history of operating losses and expects them to continue in the short-term. The offering is being conducted on a 'best efforts' basis with no minimum requirement. The company also recently completed a 1-for-30 reverse stock split.

Ocean Power Technologies, Inc. has entered into a Securities Purchase Agreement with Vanquish Funding Group Inc. for a $373,750 promissory note, which includes an original issue discount. The company also has access to additional financing of up to $2,875,000 over the next year. The note matures in October 2027 and carries a 12% interest rate. Vanquish Funding Group has the right to convert the note into company stock under specific default conditions, at a price representing a 25% discount to the market price.

Ocean Power Technologies, Inc. announced its selection as one of six potential awardees for a $40 million multiple-award, indefinite-delivery/indefinite-quantity (IDIQ) contract with the Naval Oceanographic Office. This two-year contract, anticipated to begin in August 2026, will support high-resolution ocean-floor mapping services using long-endurance unmanned surface vehicles. The award validates OPT's maritime technologies and expands its support for U.S. Government programs, advancing its Robotics as a Service strategy.

Ocean Power Technologies, Inc. announced it was selected as one of six potential awardees for a $40 million multiple-award, indefinite-delivery/indefinite-quantity (IDIQ) contract with the Naval Oceanographic Office (NAVOCEANO). The firm-fixed-price contract will support high-resolution ocean-floor mapping services using long-endurance unmanned surface vehicles across the Indian and Pacific Ocean basins. This two-year contract, starting August 2026, validates the company's maritime technologies and advances its "Robotics as a Service" strategy.

Ocean Power Technologies, Inc. will hold a Special Meeting of Stockholders on September 10, 2026, to vote on authorizing its Board of Directors to implement a reverse stock split. The proposed ratio for the reverse split ranges from 5-for-1 to 50-for-1, with the exact ratio to be determined by the Board within one year. The company states the primary reasons for the reverse split are to maintain its listing on the NYSE American and to enhance the marketability of its common stock, addressing concerns about low stock price and potential delisting.

Ocean Power Technologies, Inc. announced the successful delivery of its WAM-V® unmanned surface vehicle (USV) to Stevens Institute of Technology, completing an order announced in June 2026. This delivery, achieved in just five weeks, marks a significant milestone in converting customer backlog into revenue and operating cash flow. The WAM-V® will support advanced marine research at Stevens and further expand OPT's presence in the academic research market, demonstrating the company's strong execution and operational capabilities.

Ocean Power Technologies, Inc. (OPT) announced it has achieved Cybersecurity Maturity Model Certification (CMMC) Level 2 compliance. This milestone significantly strengthens the company's readiness to support the U.S. Department of War and other federal programs that require the protection of Controlled Unclassified Information (CUI). The compliance enhances OPT's ability to compete for new opportunities and support increasingly sensitive missions within the defense sector, reflecting its ongoing investment in cybersecurity and secure operations.

Ocean Power Technologies, Inc. has entered into an at-the-market offering agreement with H.C. Wainwright & Co., LLC. Under this agreement, the company may offer and sell shares of its common stock with an aggregate offering price of up to $20,000,000. H.C. Wainwright & Co., LLC will serve as the sales agent and will receive a commission of 3.00% of the aggregate gross proceeds from the sale of shares.

Ocean Power Technologies (OPT) acquired strategic subsea intellectual property assets from Columbia Power Technologies, Inc. for 10,984,848 shares of common stock valued at $2.9 million, aiming to expand its operational infrastructure. The company also announced its fiscal year 2026 results, reporting a net loss of $44.8 million on $4.1 million revenue, alongside a record backlog of $19.8 million. Additionally, OPT appointed Rear Admiral Joseph A. “Digger” DiGuardo Jr. as Acting Chairman of the Board, following the retirement of Terence J. Cryan, and terminated its At Market Issuance Sales Agreement.

Ocean Power Technologies, Inc. announced the acquisition of strategic subsea developmental technology assets from Columbia Power Technologies, Inc. This move expands OPT's capabilities from the ocean surface to the seabed, strengthening its position in providing persistent operational infrastructure for autonomous maritime operations. The acquisition, which closed on July 22, 2026, is expected to accelerate commercialization and reduce development risk for future subsea solutions.