Key facts
- Ocean Power Technologies priced a $10 million registered direct offering.
- The offering is expected to close on June 13, 2024.
- The company is selling new shares directly to investors to raise capital.
Ocean Power Technologies announced the pricing of a $10 million registered direct offering. The offering is expected to close on June 13, 2024. This type of offering involves selling new shares directly to investors, often at a slight discount to the market price, and is registered with the SEC, allowing for immediate resale by investors. It is a common method for companies to raise capital.