OPTT extends HQ lease to Apr 2026; rent rises to $895K then $931K

Ocean Power Technologies, Inc.

Lease term extended 18 months through April 30, 2026, from prior Oct 31, 2024.
Annual rent increases to $895,328 effective Nov 1, 2024, then to $931,141 on Nov 1, 2025.
Tenant's option to extend for First Extension Term is voided; extension was negotiated.
Premises accepted as-is; no landlord work required.

item 1.01 item 9.01

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. amended Amendment with PPF Industrial 28 Engelhard, LLC (effective 2024-02-22).

Action: amendment
Agreement: lease
Counterparty: PPF Industrial 28 Engelhard, LLC
Effective: 2024-02-22

Exact text from the filing

On February 22, 2024, and effective February 8, 2024, Ocean Power Technologies, Inc. (the “Company”) entered into an amendment (the “Amendment”) to its Industrial Lease Agreement with PPF Industrial 28 Engelhard, LLC dated March 31, 2017 (the “Lease”).

View on SEC.gov

271 material agreements filed in the last 30 days. Browse all material agreements →

Ocean Power Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-007548

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.