---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-066473"
form_type: "8-K"
ticker: "OMEX"
cik: "0000798528"
company_name: "ODYSSEY MARINE EXPLORATION INC"
filed_at: "2023-03-10T23:59:59+00:00"
generated_at: "2026-06-18T06:05:24.261686+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Odyssey Marine enters $14M note/warrant deal and settles AHMSA obligations with $9M payment

## Summary
- Issued up to $14M principal 11% senior secured note due Sept 6, 2024; interest payable quarterly with PIK option.
- Warrant to purchase 3,703,704 shares at $3.78 (120% of prior close); term 3 years; net-share settlement allowed.
- Settlement, Release and Termination Agreement with AHMSA parties requires $9M cash payment by March 6, 2023.
- Concurrent with payment, portion of MINOSA Notes automatically converts into 304,879 shares of common stock.
- Proceeds from note used for termination payment, NAFTA arbitration legal fees, and general corporate purposes.

## SEC filing metadata
- accession: 0001193125-23-066473
- form_type: 8-K
- ticker: OMEX
- cik: 0000798528
- company_name: ODYSSEY MARINE EXPLORATION INC
- filed_at: 2023-03-10T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/798528/000119312523066473/0001193125-23-066473-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/798528/000119312523066473/d483729d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-066473
- JSON: https://secwatch.observer/filing/0001193125-23-066473.json
- Plain text: https://secwatch.observer/filing/0001193125-23-066473.txt

## Key facts
- Debt Financings
  ODYSSEY MARINE EXPLORATION INC incurred loan of up to $14.0 million at 11.0% per annum maturing September 6, 2024.
  - Instrument: loan
  - Principal: up to $14.0 million
  - Rate: 11.0% per annum
  - Maturity: September 6, 2024
  - Event: incurrence
  source text: On March 6, 2023, Odyssey Marine Exploration, Inc. (“Odyssey”) entered into a Note and Warrant Purchase Agreement (the “Purchase Agreement”) with an institutional investor pursuant to which Odyssey issued and sold to the investor (a) a promissory note (the “Note”) in the principal amount of up to $14.0 million and (b) a warrant (the “Warrant” and, together with the Note, the “Securities”) to purchase shares of Odyssey’s common stock.
  evidence_url: https://www.sec.gov/Archives/edgar/data/798528/000119312523066473/0001193125-23-066473-index.htm
- Material Agreements
  ODYSSEY MARINE EXPLORATION INC entered into Note and Warrant Purchase Agreement with an institutional investor valued at principal amount of up to $14.0 million (effective 2023-03-06).
  - Action: entry
  - Counterparty: an institutional investor
  - Value: principal amount of up to $14.0 million
  - Effective: 2023-03-06
  source text: On March 6, 2023, Odyssey Marine Exploration, Inc. (“Odyssey”) entered into a Note and Warrant Purchase Agreement (the “Purchase Agreement”) with an institutional investor pursuant to which Odyssey issued and sold to the investor (a) a promissory note (the “Note”) in the principal amount of up to $14.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/798528/000119312523066473/0001193125-23-066473-index.htm
- Material Agreements
  ODYSSEY MARINE EXPLORATION INC entered into Settlement, Release and Termination Agreement with Altos Hornos de México, S.A.B. de C.V. ("AHMSA"), Minera del Norte S.A. de C.V. ("MINOSA"), and Phosphate One LLC valued at $9.0 million (effective 2023-03-03).
  - Action: entry
  - Agreement: settlement
  - Counterparty: Altos Hornos de México, S.A.B. de C.V. ("AHMSA"), Minera del Norte S.A. de C.V. ("MINOSA"), and Phosphate One LLC
  - Value: $9.0 million
  - Effective: 2023-03-03
  source text: On March 3, 2023, Odyssey, Altos Hornos de México, S.A.B. de C.V. (“AHMSA”), Minera del Norte S.A. de C.V. (“MINOSA”), and Phosphate One LLC (“Phosphate One” and together with AHMSA and MINOSA, the “AHMSA Parties”) entered into Settlement, Release and Termination Agreement (the “Termination Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/798528/000119312523066473/0001193125-23-066473-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.