Ocean Power Technologies: Public Offering of Common Stock and Warrants

Ocean Power Technologies will durch die Ausgabe von Wertpapieren rund vier Millionen Dollar einsammeln. Wir veröffentlichen die Meldung der Wellenkraft-Spezialistin aus den USA zu der Emission im Wortlaut.

Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen.

PENNINGTON, New Jersey - Ocean Power Technologies, Inc. (the “Company”) (NASDAQ:OPTT), announced the pricing of a best efforts public offering of 595,000 units (the “Units”), at a price of $6.75 per Unit, each of which consists of one share of its common stock and 0.3 of a warrant to purchase one share of its common stock at an exercise price of $9.36 per share.  The warrants will be exercisable immediately for a period of five years from the issuance date.  The Company expects to receive approximately $4,016,250 in gross proceeds, before deducting placement agent fees and offering expenses payable by the Company.

Roth Capital Partners is acting as the sole placement agent for the offering. The offering is expected to close on July 27, 2016, subject to customary closing conditions.

The Company intends to use the net proceeds from this offering for general corporate purposes.

The securities described above are being offered by the Company pursuant to a registration statement on Form S-3 previously filed with, and subsequently declared effective by, the Securities and Exchange Commission (“SEC”).  An electronic preliminary prospectus relating to the offering has also been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to this offering also may be obtained from Roth Capital Partners, 888 San Clemente, Newport Beach, CA 92660, (800) 678-9147.

About Ocean Power Technologies

Headquartered in Pennington, New Jersey, Ocean Power Technologies (NASDAQ:OPTT) is a leader in ocean wave energy conversion. OPT’s proprietary PowerBuoy® technology is based on a scalable and modular design.  OPT specializes in cost-effective and environmentally sound ocean wave based power generation and management technology.

Ocean Power Technologies                
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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