Odyssey settles ~$14.5M debt with Monaco; issues stock, pays cash

ODYSSEY MARINE EXPLORATION INC

Canceled $14.5M in principal and accrued interest; issued 984,848 shares at $6.60 and paid $500K cash.
Remaining $2.5M due by Dec 1, 2021; Monaco may convert to shares at floor $4.95 or 90% of VWAP.
Odyssey expects proceeds from a shipwreck project within 60 days to cover the $2.5M payment.
Relinquished right to future proceeds from certain Monaco shipwreck projects as part of settlement.
CEO called settlement a 'watershed moment'; company focuses on subsea mineral projects (ExO, Lihir, CIC).

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