Ocean Power Technologies raises $10M through sale of 25M shares at $0.40 with warrants

Filed June 8, 2026 · Period ending June 4, 2026 · ~1 min read

Key Changes

• high

  Company sold 25 million shares at $0.40 each with matching warrants to buy another 25 million shares, creating potential dilution of up to 50 million total shares if all warrants are exercised.

  Item 1.01 verify on EDGAR →
• high

  Raised $10 million gross proceeds for working capital and general corporate purposes, with net proceeds around after 6% placement agent fee ($600K) and up to $50K expenses.

  Item 1.01 verify on EDGAR →
• medium

  Warrants become exercisable in December 2026 at $0.40 per share and expire in June 2032, giving holders six years to decide whether to convert based on stock performance.

  Item 1.01 verify on EDGAR →