Odyssey raises ~$4.1M, restructures debt, forms JV for Mexico phosphate project

ODYSSEY MARINE EXPLORATION INC

Sold 7,377,912 shares at $0.55 each for ~$4.1M gross; investors have option to buy 7,220,141 shares at $1.10 by April 30, 2025.
Extended March 2023 notes maturity to June 30, 2025 (or Dec 31, 2025); conversion at 75% of 30-day VWAP (floor $1.10, cap $2.20); warrant exercise price reduced from $3.78 to $1.10.
Extended December 2023 notes maturity to April 1, 2026 with conversion at 75% of 30-day VWAP (floor $1.10); warrant exercise prices lowered to $1.23 and $2.05.
Formed JV with Capital Latinoamericano (CapLat) to develop a fertilizer project in Mexico using subsea phosphate; equal partnership subject to regulatory approvals and investment by Dec 31, 2026.

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