$0.171
-0.008 (-4.42%)At close
OPTT News
OPTT Events
Selling Stockholders Plan to Sell Up to 10.98M Shares
This filing relates to the offer and sale from time to time by the selling stockholders of up to 10.98M shares of common stock. The company is not selling any shares under this prospectus and will not receive any of the proceeds from the sale of shares by the selling stockholders.
Ocean Power Technologies Achieves CMMC Level 2 Certification
Ocean Power Technologies announced that it has achieved Cybersecurity Maturity Model Certification, or CMMC, Level 2 compliance, further strengthening the company's readiness to support the U.S. Department of War and other federal programs requiring the protection of Controlled Unclassified Information. The milestone reflects OPT's continued investment in cybersecurity and secure operations as the company expands its portfolio of autonomous maritime solutions supporting U.S. and allied defense customers. Achieving CMMC Level 2 compliance aligns with the cybersecurity requirements applicable to a growing number of Department of War contracts and further enhances OPT's ability to pursue opportunities requiring the secure handling of sensitive information. Jason Weed, senior VP of commercial sales at Ocean Power Technologies, said, "The cybersecurity requirements associated with defense programs continue to evolve, and meeting those requirements has become an important part of doing business with the U.S. Government. Achieving CMMC Level 2 compliance reflects another investment in the capabilities our defense customers expect from their industry partners. As OPT continues to expand across maritime intelligence, autonomous systems, and maritime security, we believe that this milestone strengthens our ability to compete for new opportunities and support increasingly sensitive missions."
Ocean Power Acquires Strategic Technology Assets from Columbia Power
Ocean Power announced the acquisition of strategic subsea developmental technology assets from Columbia Power Technologies. The transaction has been structured as an asset acquisition, securing ownership of strategic intellectual property and technical capabilities. In addition to expanding OPT's technology portfolio, the acquisition includes developmental work and early customer engagement. The transaction closed effective, July 22.
REalloys Inc Borrow Rate Increases to 28.09%
Latest data shows the largest indicative borrow rate increases among liquid option names include: REalloys Inc (ALOY) 28.09% +3.60, ProShares UltraShort Silver (ZSL) 27.21% +1.67, GRANITESHARES 2X LONG MRVL DAILY ETF (MVLL) 12.78% +1.36, Infosys (INFY) 17.49% +1.30, Cracker Barrel (CBRL) 2.73% +0.91, GRANITESHARES 2X LONG PLTR DAILY ETF (PTIR) 3.65% +0.41, Nebius Group NV (NBIS) 1.37% +0.38, Canadian Solar (CSIQ) 2.08% +0.29, Draganfly (DPRO) 14.17% +0.28, and Ocean Power (OPTT) 1.91% +0.27.
Ocean Power Technologies Issues 25M Shares at $0.40 Each
Ocean Power Technologies announced that it has entered into securities purchase agreements with certain institutional investors for the purchase and sale of 25M shares of the company's common stock together with common warrants to purchase up to 25M shares of common stock in a registered direct offering at a combined purchase price of 40c per share of common stock and accompanying common warrant. The offering was priced at a premium to yesterday's closing price. The common warrants will be exercisable on the six month anniversary of the date of issuance at an exercise price of 40c per share and will expire 6 years from the initial date of exercise. The gross proceeds to the company from the registered direct offering, before deducting the placement agent fees and other offering expenses payable by the company, are expected to be approximately $10M. The closing of the registered direct offering is expected to occur on or about June 8. Ladenburg Thalmann & Co. is acting as the exclusive placement agent for the offering.
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