Ocean Power Technologies, Inc. (NASDAQ:OPTT) Files An 8-K Other Events
Item 8.01. Other Events.
On April 8, 2019, Ocean Power Technologies, Inc. (the “Company”) closed its previously announced offering of common stock, pre-funded warrants and common warrants (the “Offering”). At the closing, the Company issued 900,000 shares of common stock, pre-funded warrants exercisable for 3,385,680 shares of common stock and common warrants exercisable for 4,285,680 shares of common stock. The Company also entered into a warrant agency agreement with Computershare, Inc. and Computershare Trust Company, N.A., collectively as warrant agent (the “Warrant Agency Agreement”), with respect to the common warrants and the pre-funded warrants issued in the Offering. A copy of the Warrant Agency Agreement is included as Exhibit 4.1 hereto and is incorporated herein by reference.
The Company issued a press release announcing the closing of the Offering. A copy of the press release is filed as Exhibit 99.1 hereto and is incorporated herein by reference.
In addition, on the same day, the Company issued an additional 642,000 shares of common stock and common warrants exercisable for 642,000 shares of common stock, to the exercise, in full, of the over-allotment option by the underwriter in the Offering.
Item 9.01 Financial Statements and Exhibits.
* Filed herewith.
Ocean Power Technologies, Inc. Exhibit
EX-4.1 2 ex4-1.htm Execution Version WARRANT AGENCY AGREEMENT WARRANT AGENCY AGREEMENT,…
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About Ocean Power Technologies, Inc. (NASDAQ:OPTT)
Ocean Power Technologies, Inc. is developing and seeking to commercialize its systems that generate electricity by connecting the renewable energy of ocean waves. The Company’s PowerBuoy systems use technologies that convert the mechanical energy created by the rising and falling of ocean waves into electricity. The Company focuses on developing its PowerBuoy product line, which is based on modular, ocean-going buoys. Its autonomous PowerBuoy generates power for use in remote locations, independent of an existing power grid. The Company focuses on developing and commercializing its PowerBuoy products and services for use in autonomous power applications. The Company markets its PowerBuoys in the United States and internationally. The autonomous PowerBuoy integrates a power take-off (PTO) and onboard system for energy storage and management. Its PowerBuoy product is the PB3. PB3 can act as an uninterruptable power supply (UPS), which recharges itself by harvesting energy from the waves.