Ocean Power Technologies, Inc. (NASDAQ:OPTT) Files An 8-K Other Events
Item 8.01.
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Other Events. |
On May 2, 2017, Ocean Power Technologies, Inc. (the Company)
closed its previously announced underwritten offering of
6,192,750 shares of its common stock (the Offering), which
includes the sale of 807,750 shares of the Companys common stock
sold by the Company to the exercise, in full, of the
over-allotment option by the underwriters.
On the same day, 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.
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Item 9.01 |
Financial Statements and Exhibits. |
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99.1* |
Press Release dated May 2, 2017. |
* Filed herewith.
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. Ocean Power Technologies, Inc. (NASDAQ:OPTT) Recent Trading Information
Ocean Power Technologies, Inc. (NASDAQ:OPTT) closed its last trading session down -0.06 at 1.41 with 928,984 shares trading hands.
