Ocean Power Technologies enters ATM equity sales agreement with Cantor Fitzgerald

Ocean Power Technologies, Inc.

August 7, 2023: Agreement with Cantor Fitzgerald for at-the-market offering of common stock.
Cantor receives 3.0% commission on gross proceeds; Company also reimburses certain expenses.
Company not obligated to sell any shares; agreement terminable by either party.
Shares may be sold via negotiated transactions or other lawful methods with Company consent.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ocean Power Technologies, Inc. entered into Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. (effective 2023-08-07).

Action: entry
Agreement: atm program
Counterparty: Cantor Fitzgerald & Co.
Effective: 2023-08-07

Exact text from the filing

On August 7, 2023, Ocean Power Technologies, Inc. (the “Company”) entered into a Controlled Equity Offering Sales Agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor”), as sales agent, pursuant to which the Company may offer and sell, from time to time, through Cantor shares of its common stock, par value $0.001 per share (the “Shares”).

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Ocean Power Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-027012

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