secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0001493152-24-007548
Event type: other_material
Sentiment:  neutral
Materiality: 0.15
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315224007548/0001493152-24-007548-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315224007548/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-007548

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer