Greywolf Capital Discloses 5.1% Stake in Odyssey Marine (OMEX)

TL;DR

**Greywolf Capital just revealed a 5.1% stake in OMEX, but it's a late filing from June 2022.**

AI Summary

Greywolf Capital Management LP, a New York-based investment firm, has disclosed a significant stake in Odyssey Marine Exploration Inc. (OMEX), a water transportation company. As of June 10, 2022, Greywolf reported beneficial ownership of 1,000,000 shares of OMEX common stock, representing 5.1% of the company's outstanding shares. This filing, made on January 4, 2024, was a late submission due to an "inadvertent administrative error," indicating Greywolf's substantial, albeit delayed, disclosure of its position in OMEX.

Why It Matters

This filing reveals a major institutional investor's confidence in Odyssey Marine Exploration, which could signal potential future interest from other investors and impact the stock's valuation.

Risk Assessment

Risk Level: medium — The filing is a late disclosure from June 2022, meaning the information is not current and the market may have already reacted or the investment thesis may have changed.

Analyst Insight

Investors should note that while a significant institutional stake was disclosed, the information is dated (June 2022). Smart investors would investigate if Greywolf Capital still holds this position or if their investment thesis for OMEX has changed since the event date.

Key Numbers

• 1,000,000 — Shares Beneficially Owned (Greywolf Capital's stake in Odyssey Marine Exploration Inc.)
• 5.1% — Percentage of Class (Greywolf Capital's ownership percentage of Odyssey Marine Exploration Inc. common stock.)
• June 10, 2022 — Date of Event (The date when Greywolf Capital's ownership crossed the reporting threshold.)
• January 4, 2024 — Filing Date (The date this SC 13G was filed with the SEC.)

Key Players & Entities

• Greywolf Capital Management LP (company) — reporting person, investment firm
• Odyssey Marine Exploration Inc. (company) — subject company, water transportation
• 1,000,000 (dollar_amount) — shares beneficially owned
• 5.1% (dollar_amount) — percentage of class beneficially owned
• June 10, 2022 (person) — date of event requiring filing
• January 4, 2024 (person) — filing date

Forward-Looking Statements

• The market may react to the disclosure of Greywolf Capital's past stake, even if it's a late filing, potentially causing a short-term price fluctuation for OMEX. (OMEX) — medium confidence, target: 2024-01-05
• Given the 'inadvertent administrative error' for a filing from June 2022, Greywolf Capital may issue a clarification or an updated filing if their current position has significantly changed. (Greywolf Capital Management LP) — low confidence, target: 2024-03-31

FAQ

Key Financial Figures

• $0.0001 — ame of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securitie

Filing Documents

• omex_13g.htm (SC 13G) — 126KB
• 0000908834-24-000007.txt ( ) — 127KB

(a) Name of Issuer

Item 1. (a) Name of Issuer: Odyssey Marine Exploration, Inc. (the " Company ") (b) Address of Issuer's Principal Executive Offices: 205 S. Hoover Blvd., Suite 210, Tampa, FL 33609

(a) Name of Persons Filing

Item 2. (a) Name of Persons Filing: This statement is filed by the entities and persons listed below, all of whom together are referred to herein as the " Reporting Persons ". (i) Greywolf Distressed Opportunities Master Fund, L.P., a Cayman Islands exempted limited partnership (" Greywolf DF "), with respect to the Shares held by it and the Shares it has the right to acquire upon exercise of the Warrants held by it; (ii) Greywolf Distressed Opportunities Master QPA Fund, L.P., a Cayman Islands exempted limited partnership (" Greywolf DFQPA " and, together with Greywolf DF, the " Greywolf Funds "), with respect to the Shares held by it and the Shares it has the right to acquire upon exercise of the Warrants held by it; (iii) Greywolf Advisors LLC, a Delaware limited liability company and the general partner (the " General Partner ") of each of the Greywolf Funds, with respect to the Shares held by the Greywolf Funds and the Shares the Greywolf Funds have the right to acquire upon exercise of the Warrants held by them; (iv) Greywolf Capital Management LP, a Delaware limited partnership and the investment manager of each of the Greywolf Funds (the " Investment Manager "), with respect to (a) the Shares held by it and the Shares it has the right to acquire upon exercise the Warrants held by it, and (b) the Shares held by the Greywolf Funds and the Shares the Greywolf Funds have the right to acquire upon exercise of the Warrants held by them; (v) Greywolf GP LLC, a Delaware limited liability company and the general partner of the Investment Manager (the " Investment Manager General Partner "), with respect to (a) the Shares held by the Investment Manager and the Shares the Investment Manager has the right to acquire upon the exercise of the Warrants held by it, and (b) the Shares held by the Greywolf Funds and the Shares the Greywolf Funds have the right to acquire upon exercise of the Warrants held by them; and (vi) Jonathan Savitz (" Savitz "), a United

Ownership

Item 4. Ownership The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person. The Shares and the Warrants reported hereby as held by each of the Greywolf Funds are owned directly by such Greywolf Fund. The General Partner, as the general partner of each of the Greywolf Funds, may be deemed to be a beneficial owner of all such Shares owned by the Greywolf Funds and all such Shares that the Greywolf Funds have the right to acquire upon exercise of the Warrants held by them. The Shares and the Warrants reported hereby as held by the Investment Manager are owned directly by the Investment Manager. In addition, the Investment Manager, as the investment manager of the Greywolf Funds, may be deemed to be a beneficial owner of all such Shares owned by the Greywolf Funds and all such Shares that the Greywolf Funds have the right to acquire upon exercise of the Warrants held by them. The Investment Manager General Partner, as the general partner of the Investment Manager, may be deemed to be a beneficial owner of (a) all such Shares owned by the Investment Manager and all such Shares that the Investment Manager has the right to acquire upon exercise of the Warrants held by it, and (b) all such Shares owned by the Greywolf Funds and all such Shares that the Greywolf Funds have the right to acquire upon exercise of the Warrants held by them. Savitz, as the senior managing member of the General Partner and as the sole managing member of the Investment Manager General Partner, may be deemed to be a beneficial owner of (a) all such Shares owned by the Greywolf Funds and all such Shares that the Greywolf Funds have the right to acquire upon exercise of the Warrants held by them, and (b) all such Shares owned by the Investment Manager and all such Shares that the Investment Manager has the right to acquire upon exercise of the Warrants held by it. Eac

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class Not Applicable.

Ownership of More Than Five Percent on Behalf of Another Person

Item 6. Ownership of More Than Five Percent on Behalf of Another Person Not Applicable. Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person Not Applicable.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group The Reporting Persons are filing this Schedule 13G pursuant to Rule 13d-1(c). Consistent with Item 2 of the cover page for each Reporting Person above, the Reporting Persons neither disclaim nor affirm the existence of a group among them.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not Applicable.

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Page 9 of 12 Pages

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: January 4, 2024 GREYWOLF ADVISORS LLC On its own behalf And as the General Partner of GREYWOLF DISTRESSED OPPORTUNITIES MASTER FUND, L.P. and GREYWOLF DISTRESSED OPPORTUNITIES MASTER QPA FUND, L.P. By: /s/ Jonathan Savitz Name: Jonathan Savitz Title: Senior Managing Member GREYWOLF GP LLC On its own behalf And as the General Partner of GREYWOLF CAPITAL MANAGEMENT LP By: /s/ Jonathan Savitz Name: Jonathan Savitz Title: Managing Member By: /s/ Jonathan Savitz Name: Jonathan Savitz Page 10 of 12 Pages EXHIBIT INDEX EXHIBIT 1 Joint Acquisition Statement Pursuant to Section 240.13d-1(k) Page 11 of 12 Pages EXHIBIT 1 to SCHEDULE 13G JOINT ACQUISITION STATEMENT PURSUANT TO SECTION 240.13d-1(k) The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him, her or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the other entities or persons, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Dated: January 4, 2024 GREYWOLF ADVISORS LLC On its own behalf And as the General Partner of GREYWOLF DISTRESSED OPPORTUNITIES MASTER FUND, L.P. and GREYWOLF DISTRESSED OPPORTUNITIES MASTER QPA FUND, L.P. By: /s/ Jonathan Savitz Name: Jonathan Savitz Title: Senior Managing Member GREYWOLF GP LLC On its own behalf

View Full Filing

View this SC 13G filing on SEC EDGAR