OPT Sets $15M Target through Stock Offering

Ocean Power Technologies (OPT) has priced an underwritten public offering of common stock and warrants looking to raise approximately USD 15 million.

The New Jersey-based wave energy conversion specialist is looking to sell about 4.28 million shares of common stock at $3.50 a share plus common warrants to purchase 4.28 million shares of common stock that are exercisable at $3.85 and/or pre-funded warrants, each of which is exercisable for one common share, together with a number of common warrants to buy 4.28 million common shares.

The pre-funded warrants will have a purchase price of $3.49 per share, with the remaining exercise price of each such warrant equalling USD 0.01 per share.

The underwriter of the offering has been given a 45-day option to buy up to an additional 642,852 common shares and/or 642,852 common warrants to cover any over-allotments.

The offering is expected to close on April 8, 2019.

A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering.

Share this article

Follow Marine Energy


<< Apr 2019 >>
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 30 1 2 3 4 5


This conference is organized to share and discuss recent developments in clean energy sector…

read more >


ASEAN Sustainable Energy Week 2019 will feature the very latest innovative energy sources along with…

read more >

3rd World Congress on Wind & Renewable Energy

Conference Series warmly invites all the participants from all over the world to attend…

read more >


OCEANS is the bi-annual event for global marine technologists, engineers, students…

read more >