secwatch.observer — SEC 8-K summary
======================================

Issuer:     ODYSSEY MARINE EXPLORATION INC (OMEX)
CIK:        0000798528
Form:       8-K
Filed at:   2023-12-04T23:59:59+00:00
Accession:  0001193125-23-288519
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Odyssey Marine secures up to $6M debt financing with 11% notes and warrants
---------------------------------------------------------------------------

- Entered note & warrant purchase agreement for up to $6M; issued $3.75M in notes on Dec 1, 2023.
- Notes bear 11.0% annual interest, first payment via PIK; maturity June 1, 2025.
- Warrants: two tranches to purchase up to 1,411,765 shares at $4.25/sh and 211,565 at $7.09/sh, three-year term.
- Proceeds for working capital; secured by equity in Odyssey Marine Cayman Limited.
- Press release notes investors include Two Seas Capital, Four World Capital; funds bridge to NAFTA arbitration decision expected early 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798528/000119312523288519/0001193125-23-288519-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798528/000119312523288519/d556189d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-288519

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer