---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-020565"
form_type: "8-K"
ticker: "OPTT"
cik: "0001378140"
company_name: "Ocean Power Technologies, Inc."
filed_at: "2023-06-08T23:59:59+00:00"
generated_at: "2026-06-14T04:50:09.012595+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Ocean Power Technologies terminates ATM offering agreement with AGP after raising $50M

## Summary
- Terminated At the Market Offering Agreement with A.G.P./Alliance Global Partners effective June 2, 2023.
- Under the agreement, 17,179,883 shares sold at ~$2.91 average for $50M total proceeds; $1.6M commission paid.
- No penalties incurred for termination; no new equity facility announced.
- Company retains ability to raise capital through other means going forward.

## SEC filing metadata
- accession: 0001493152-23-020565
- form_type: 8-K
- ticker: OPTT
- cik: 0001378140
- company_name: Ocean Power Technologies, Inc.
- filed_at: 2023-06-08T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1378140/000149315223020565/0001493152-23-020565-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1378140/000149315223020565/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-020565
- JSON: https://secwatch.observer/filing/0001493152-23-020565.json
- Plain text: https://secwatch.observer/filing/0001493152-23-020565.txt

## Key facts
- Material Agreements
  Ocean Power Technologies, Inc. terminated AGP Agreement with A.G.P/Alliance Global Partners (effective 2023-06-02).
  - Action: termination
  - Agreement: atm program
  - Counterparty: A.G.P/Alliance Global Partners
  - Effective: 2023-06-02
  source text: Effective June 2, 2023, Ocean Power Technologies, Inc. (the “Company”) terminated its At the Market Offering Agreement with A.G.P/Alliance Global Partners (“AGP”) dated November 20, 2020 (the “AGP Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315223020565/0001493152-23-020565-index.htm

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