06.06.16

Ocean Power Technologies: Public Offering of Common Stock and Warrants

Ocean Power Technologies will neue Aktien herausgeben. Wir veröffentlichen die Mitteilung der Wellenkraftspezialistin aus den USA dazu im Wortlaut.

Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet.

PENNINGTON, New Jersey -- Ocean PowerTechnologies, Inc. (NASDAQ:OPTT) (“OPT” or “the Company”) announced the pricing of a registered direct offering of 417,000 shares of common stock and warrants to purchase an aggregate of 145,950 shares of its common stock.  Each share of common stock is being sold together with a warrant to purchase 0.35 shares of common stock of the Company at a combined purchase price of $4.60 per share. The warrants will be exercisable beginning six months and one day after the date of issuance at a price of $6.04 per full share of common stock and will be exercisable for a period of five years from closing, which is expected to occur on June 7, 2016.

Roth Capital Partners, LLC served as lead placement agent, and Rodman & Renshaw, a unit of H. C. Wainwright & Co., LLC, served as co-placement agent for the transaction.

The Company expects to receive net proceeds of approximately $1.6 million from the offering, after deducting placement agent fees and estimated offering expenses payable by the Company.  The offering is expected to close on June 7, 2016, subject to customary closing conditions.

The Company intends to use the net proceeds from the sale of securities for general corporate purposes.

The shares described above are being offered by Ocean Power Technologies, Inc. pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission. A prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov.


About Ocean Power Technologies

Headquartered in Pennington, New Jersey, Ocean Power Technologies (NASDAQ:OPTT) is a pioneer of ocean wave power generation and energy storage systems. OPT’s proprietary PowerBuoy® technology is based on a cost-effective, scalable, modular, and environmentally sound design which provides power and communications for a number of markets and applications.


Contact:                              
Mark A. Featherstone
Chief Financial Officer of OPT
Phone:   609-730-0400                        

Investor Relations Contact:
Andrew Barwicki
Barwicki Investor Relations, Inc.
Phone:  516-662-9461
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