---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-284287"
form_type: "8-K"
ticker: "OMEX"
cik: "0000798528"
company_name: "ODYSSEY MARINE EXPLORATION INC"
filed_at: "2024-12-23T23:59:59+00:00"
generated_at: "2026-05-28T23:57:01.735752+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-24-284287
- form_type: 8-K
- ticker: OMEX
- cik: 0000798528
- company_name: ODYSSEY MARINE EXPLORATION INC
- filed_at: 2024-12-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/798528/000119312524284287/0001193125-24-284287-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/798528/000119312524284287/d900879d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-284287
- JSON: https://secwatch.observer/filing/0001193125-24-284287.json
- Plain text: https://secwatch.observer/filing/0001193125-24-284287.txt

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