Ocean Power Technologies Files 8-K on Agreements
Ticker: OPTT · Form: 8-K · Filed: Aug 8, 2025 · CIK: 1378140
Sentiment: neutral
Topics: material-agreement, termination, financials
Related Tickers: OPTT
TL;DR
OPT filed an 8-K, terminated a deal, and filed financials. Big changes coming?
AI Summary
Ocean Power Technologies, Inc. filed an 8-K on August 8, 2025, reporting the entry into and termination of a material definitive agreement. The filing also includes financial statements and exhibits. The company is incorporated in Delaware and its fiscal year ends on April 30.
Why It Matters
This filing indicates significant changes in the company's contractual relationships, which could impact its operations and financial standing.
Risk Assessment
Risk Level: medium — The termination of a material definitive agreement suggests potential business disruptions or strategic shifts that warrant closer monitoring.
Key Numbers
- 001-33417 — Commission File Number (Identifies the company's SEC filing history.)
- 22-2535818 — EIN (Employer Identification Number for tax purposes.)
Key Players & Entities
- Ocean Power Technologies, Inc. (company) — Registrant
- August 8, 2025 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 22-2535818 (ein) — I.R.S. Employer Identification No.
FAQ
What was the nature of the material definitive agreement that was entered into?
The filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the excerpt.
What were the reasons for the termination of the material definitive agreement?
The filing states that a material definitive agreement was terminated, but the reasons for this termination are not detailed in the provided text.
What specific financial statements were included in the filing?
The filing mentions 'Financial Statements and Exhibits' as an item information, but the specific content of these statements is not detailed in the excerpt.
When does Ocean Power Technologies, Inc.'s fiscal year end?
Ocean Power Technologies, Inc.'s fiscal year ends on April 30.
What is the company's state of incorporation?
The company is incorporated in Delaware.
Filing Stats: 1,141 words · 5 min read · ~4 pages · Grade level 11.2 · Accepted 2025-08-08 16:10:21
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 Par Value OPTT NYSE American Seri
- $40,000,000 — ng an aggregate offering price of up to $40,000,000 (the "Shares"), to or through Ladenburg
- $18 million — aggregate market value of approximately $18 million. There were no penalties associated wit
Filing Documents
- form8-k.htm (8-K) — 48KB
- ex5-1.htm (EX-5.1) — 13KB
- ex10-1.htm (EX-10.1) — 376KB
- ex5-1_001.jpg (GRAPHIC) — 3KB
- 0001641172-25-022761.txt ( ) — 720KB
- optt-20250808.xsd (EX-101.SCH) — 4KB
- optt-20250808_def.xml (EX-101.DEF) — 26KB
- optt-20250808_lab.xml (EX-101.LAB) — 36KB
- optt-20250808_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 6KB
01
Item 1.01 Entry into a Material Definitive Agreement . On August 8, 2025, Ocean Power Technologies, Inc. (the "Company") entered into a sales agreement with Ladenburg Thalmann & Co. Inc. ("Ladenburg"), pursuant to which the Company may offer and sell shares of its common stock, par value $0.001 per share (the "Common Stock"), having an aggregate offering price of up to $40,000,000 (the "Shares"), to or through Ladenburg, as sales agent (the "Sales Agreement"), from time to time, in an "at the market offering" (as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended) of the Shares (the "ATM Offering"). Shares may be sold in the ATM Offering by any method deemed to be an "at the market offering." Under the Sales Agreement, Ladenburg will also be able to sell shares of Common Stock by any other method permitted by law, including in negotiated transactions with the Company's prior written consent. Upon delivery of a placement notice and subject to the terms and conditions of the Sales Agreement, Ladenburg is required to use its commercially reasonable efforts consistent with its normal trading and sales practices, applicable state and federal law, rules and regulations, and the rules of the NYSE American to sell the Shares from time to time based upon the Company's instructions, including any price, time or size limits specified by the Company. Ladenburg is not under any obligation to purchase any of the Shares on a principal basis pursuant to the Sales Agreement, except as otherwise agreed by Ladenburg and the Company in writing and expressly set forth in a placement notice. Ladenburg's obligations to sell the Shares under the Sales Agreement are subject to satisfaction of certain conditions, including customary closing conditions. The Company is not obligated to make any sales of Shares under the Sales Agreement and any determination by the Company to do so will be dependent, among other things, on market conditions and the Company's capital rai
02 Termination
Item 1.02 Termination of a Material Definitive Agreement. In connection with entering into the Sales Agreement, effective August 8, 2025, the Company terminated its At the Market Offering Agreement with A.G.P/Alliance Global Partners ("AGP") dated March 22, 2024 (the "AGP Agreement"). Under the AGP Agreement, the Company had sold and issued an aggregate of shares of its common stock with an aggregate market value of approximately $18 million. There were no penalties associated with the termination.
01 Financial
Item 9.01 Financial (d) Exhibits *5.1 Opinion of Porter Hedges LLP. *10.1 At Market Issuance Sales Agreement, dated August 8, 2025, by and between Ocean Power Technologies, Inc. and Ladenburg Thalmann & Co. Inc. *23.1 Consent of Porter Hedges LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data file (embedded within the Inline XBRL document). * Filed herewith. 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: August 8, 2025 /s/ Philipp Stratmann Philipp Stratmann President and Chief Executive Officer