secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2023-06-08T23:59:59+00:00
Accession:  0001493152-23-020565
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315223020565/0001493152-23-020565-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315223020565/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-020565

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