Ocean Power Technologies, Inc. has entered into an at-the-market (ATM) offering agreement with H.C. Wainwright & Co., LLC, allowing the company to sell shares of its common stock with an aggregate value of up to $20 million. Sales will be made from time to time in the open market or in negotiated transactions, depending on market conditions and the company's capital needs.
Key Details
- Agreement Date: The agreement was executed on July 27, 2026.
- Maximum Offering: Up to $20,000,000 of common stock may be sold through the program.
- Sales Agent & Commission: H.C. Wainwright & Co., LLC will act as the sales agent for a commission rate of 3.00% of the gross proceeds.