secwatch.observer — SEC 8-K summary
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Issuer:     ODYSSEY MARINE EXPLORATION INC (OMEX)
CIK:        0000798528
Form:       8-K
Filed at:   2024-12-23T23:59:59+00:00
Accession:  0001193125-24-284287
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798528/000119312524284287/0001193125-24-284287-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798528/000119312524284287/d900879d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-284287

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