Ocean Power Technologies Prices $3M Public Offering Of 6M Shares And Warrants At $0.50/Unit
Benzinga Newsdesk 42 minutes ago
OfferingsNews
Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE:OPTT), a leader in intelligent maritime solutions and services, today announced the pricing of its previously announced public offering of
Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE:OPTT), a leader in intelligent maritime solutions and services, today announced the pricing of its previously announced public offering of 6,000,000 shares of common stock together with common warrants to purchase up to 6,000,000 shares of common stock, on a "best-efforts" basis (the "Offering"). The warrants will have an exercise price of $0.50 per share and will expire 5 years from the date of issuance. The common stock is listed on the NYSE American under the symbol "OPTT".
D. Boral Capital LLC is acting as the exclusive placement agent for the Offering.
The closing of the Offering is expected to occur on or about November 16, 2026, subject to the satisfaction of customary closing conditions. The Company expects to receive aggregate gross proceeds of $3.0 million from the Offering, before deducting placement agent fees and other related expenses.