OPT plans common stock offering

US-based wave energy developer Ocean Power Technologies (OPT) has unveiled plans to offer shares of its common stock for sale in a best efforts public offering.

OPT said it intends to use the net proceeds from the offering for working capital and to fund other general corporate purposes.

The public offering, subject to market conditions, will be managed by Aegis Capital Corp, according to OPT.

OPT added it cannot make assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

To remind, OPT has developed PowerBuoy device that harvests the energy of the waves, and can act as both power and communication platform for remote offshore applications.

Its PowerBuoy portfolio includes power output ranges up to 3kW and up to 15kW, with its commercial PB3 PowerBuoy, and PB15 which is still under development.

Share this article

Follow Marine Energy

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

PV Korea 2020 (The 17th Green Energy Expo)

This show is co-organized by the four major renewable energy associations of Korea.

read more >

All-Energy 2020

All-Energy is the UK’s leading and only full supply chain renewables and low carbon energy event for the private and public sector energy…

read more >

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >