secwatch.observer — SEC 8-K summary
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Issuer:     ODYSSEY MARINE EXPLORATION INC (OMEX)
CIK:        0000798528
Form:       8-K
Filed at:   2023-03-10T23:59:59+00:00
Accession:  0001193125-23-066473
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798528/000119312523066473/0001193125-23-066473-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798528/000119312523066473/d483729d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-066473

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