OPTT Ocean Power Technologies, Inc.
Price Chart
Executive Summary
Ocean Power Technologies is offering 25,000,000 shares of common stock and warrants to purchase an additional 25,000,000 shares at a combined price of $0.40 per unit, raising approximately $9.3 million in net proceeds for working capital and general corporate purposes. The offering is priced at a slight discount to the last closing price of $0.3952 and will increase the outstanding share count by ~10.9% to 255,166,826 shares, causing immediate dilution of $0.31 per share for new investors.
Actionable Insight
The dilutive offering increases share count by ~10.9% and creates overhang from 25 million warrants exercisable at $0.40 starting in six months. Monitor for potential selling pressure as shares become freely tradable post-closing. The company has a history of operating losses and expects to continue using cash from operations, suggesting further capital raises may be needed.
Key Facts
- Offering 25,000,000 shares of common stock and warrants to purchase up to 25,000,000 additional shares at a combined price of $0.40 per unit.
- Gross proceeds of $10,000,000; estimated net proceeds of approximately $9.3 million after fees and expenses.
- Warrants exercisable at $0.40 per share beginning six months after issuance, expiring six years from initial exercise date.
- Pro forma as-adjusted net tangible book value per share increases from $0.06 to $0.09, resulting in immediate dilution of $0.31 per share to new investors.
- Shares outstanding post-offering: 255,166,826 (up from 230,166,826 as of June 3, 2026), a ~10.9% increase.
- Last reported sale price on June 3, 2026 was $0.3952 per share; offering price of $0.40 is at a ~1.2% premium.
- Placement agent: Ladenburg Thalmann & Co. Inc.; best efforts offering with no minimum.
- 30-day lock-up for officers, directors, and 10% stockholders; 6-month restriction on variable rate financings.
Financial Impact
Dilutive equity offering of $10 million gross / ~$9.3 million net proceeds; immediate dilution of $0.31 per share (77.5% of offering price) to new investors.
Risk Factors
- Immediate dilution of $0.31 per share (77.5% of offering price) for new investors.
- Potential overhang from 25 million warrants exercisable at $0.40 starting in six months.
- Company has history of operating losses and expects to continue using cash from operations.
- No established trading market for warrants; liquidity limited.
- Management has broad discretion over use of proceeds, which may not improve operating results.
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001493152-26-027649 |
| Document: 0001493152-26-027649-index-headers.html | 0001493152-26-027649 |
| Document: 0001493152-26-027649-index.html | 0001493152-26-027649 |
| Document: 0001493152-26-027649.txt | 0001493152-26-027649 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 9, 2026
today
|
8-K
| $0.2840 awaiting T+5 | awaiting T+5 | — | $0.3000 (+5.63%) |
|
Jun 8, 2026
1d ago
|
424B5
| $0.2912 awaiting T+5 | awaiting T+5 | — | $0.3000 (−3.02%) |
|
May 21, 2026
19d ago
|
8-K
| $0.3600 $0.3900 | ▲ +8.33% | ▲ +6.66% | $0.3000 (−16.67%) |
|
Apr 13, 2026
8w ago
|
Press Release
| $0.3800 $0.3800 | · 0.00% | ▼ −3.30% | $0.3000 (−21.05%) |
|
Apr 1, 2026
9w ago
|
424B5
| $0.3500 $0.3800 | ▼ −8.57% | ▼ −4.81% | $0.3000 (+14.29%) |
|
Mar 24, 2026
11w ago
|
Press Release
| $0.3700 $0.3500 | ▼ −5.41% | ▼ −4.98% | $0.3000 (−18.92%) |
|
Mar 17, 2026
12w ago
|
Press Release
| $0.3500 $0.3800 | ▲ +8.57% | ▲ +9.29% | $0.3000 (−14.29%) |
|
Mar 11, 2026
12w ago
|
Press Release
| $0.4300 $0.3500 | ▲ +18.60% | ▲ +16.42% | $0.3000 (+30.23%) |
|
Mar 5, 2026
13w ago
|
Press Release
| $0.4100 $0.3800 | ▼ −7.32% | ▼ −5.79% | $0.3000 (−26.83%) |
|
Feb 24, 2026
15w ago
|
8-K
| $0.4100 $0.4200 | ▲ +2.44% | ▲ +3.54% | $0.3000 (−26.83%) |
US Market Status
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