Ocean Power Technologies Enters Material Definitive Agreement

TL;DR

OPT entered a material definitive agreement on 10/28/24. Details to follow.

AI Summary

Ocean Power Technologies, Inc. announced on October 28, 2024, that it entered into a Material Definitive Agreement. The filing also includes other events and financial statements and exhibits. The company is incorporated in Delaware and its fiscal year ends on April 30.

Why It Matters

This filing indicates a significant new agreement for Ocean Power Technologies, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities, the nature of which is not fully detailed in this initial filing.

Key Players & Entities

• Ocean Power Technologies, Inc. (company) — Registrant
• October 28, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 22-2535818 (identifier) — I.R.S. Employer Identification No.

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 Par Value OPTT NYSE American Seri

Filing Documents

• form8-k.htm (8-K) — 39KB
• ex99-1.htm (EX-99.1) — 10KB
• ex99-2.htm (EX-99.2) — 10KB
• ex99-1_001.jpg (GRAPHIC) — 15KB
• ex99-2_001.jpg (GRAPHIC) — 15KB
• 0001493152-24-043357.txt ( ) — 327KB
• optt-20241028.xsd (EX-101.SCH) — 4KB
• optt-20241028_def.xml (EX-101.DEF) — 29KB
• optt-20241028_lab.xml (EX-101.LAB) — 36KB
• optt-20241028_pre.xml (EX-101.PRE) — 26KB
• form8-k_htm.xml (XML) — 6KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Act of 1934 Date of Report (Date of earliest event reported): October 28, 2024 Ocean Power Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 001-33417 22-2535818 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 28 Engelhard Drive , Suite B Monroe Township , New Jersey (Address of principal executive offices) 08831 ( Zip Code) (609) 730-0400 (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol (s) Name of each exchange on which registered Common Stock, $0.001 Par Value OPTT NYSE American Series A Preferred Stock Purchase Rights N/A NYSE American Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 1.01. Entry into a Material Definitive Agreement On October 30, 2024, Ocean Power Technologies, Inc. ("Company") entered into an amendment to the amended and restated common stock purchase agreement entered into on September 19, 2024 with an institutional accredited investor. As amended, the agreement will now expire on the earlier of (i) December 31, 2024, or (ii) the date on which the investor shall have purchased the aggregate amount of shares contemplated by the agreement. The foregoing description of the amendment is qualified in its entirety by reference to the text of the amendment, a copy of which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended October 31, 2024. Item 8.01 Other Events. On October 28, 2024, the Company issued a press release announcing completion of a milestone for the Naval Information Warfare Center Pacific's Project Overmatch. A copy of the press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference. On October 31, 2024, the Company issued a press release announcing follow-on product orders in Latin America. A copy of the press release is attached hereto as Exhibit 99.2 and is incorporated herein by reference. Item 9.01 Financial Statements and Exhibits. Exhibits 99.1 Press release dated October 28, 2024. 99.2 Press release dated October 31, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Ocean Power Technologies, Inc. Dated: November 1, 2024 /s/ Philipp Stratmann Philipp Stratmann President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR