---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-014548"
form_type: "8-K"
ticker: "OPTT"
cik: "0001378140"
company_name: "Ocean Power Technologies, Inc."
filed_at: "2026-04-01T23:59:59+00:00"
generated_at: "2026-05-15T07:57:23.145079+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ocean Power Technologies issues $10M convertible notes due 18 months, convertible at $0.40

## Summary
- $10M aggregate principal of senior convertible notes sold to institutional investors; interest 4.5% (13% upon default).
- Notes mature in 18 months at 113% of face value; conversion price $0.40 per share, subject to adjustments.
- Conversion limited to 4.99% beneficial ownership cap; notes rank senior to unsecured debt.
- Issued via takedown from effective shelf registration statement on Form S-3 (File No. 333-275843).
- Use of proceeds not specified; proceeds likely for general corporate purposes.

## SEC filing metadata
- accession: 0001493152-26-014548
- form_type: 8-K
- ticker: OPTT
- cik: 0001378140
- company_name: Ocean Power Technologies, Inc.
- filed_at: 2026-04-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1378140/000149315226014548/0001493152-26-014548-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1378140/000149315226014548/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-014548
- JSON: https://secwatch.observer/filing/0001493152-26-014548.json
- Plain text: https://secwatch.observer/filing/0001493152-26-014548.txt

## Source-grounded claims
- claim_id: 317acf26d8de69111bf6a0fa871b213fdd0e722c
  claim: Ocean Power Technologies, Inc. incurred convertible notes of $10,000,000 with certain institutional investors at 4.5% per annum maturing the eighteen-month anniversary of their issuance dates.
  evidence_excerpt: On April 1, 2026, Ocean Power Technologies, Inc. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain institutional investors (the “Investors”) under which the Company agreed to issue and sell convertible notes for an aggregate principal amount of $10,000,000 (the “Notes”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315226014548/0001493152-26-014548-index.htm
- claim_id: 34fad6d352f322b23f12776c0be62147160c18be
  claim: Ocean Power Technologies, Inc. entered into Securities Purchase Agreement with certain institutional investors valued at $10,000,000 (effective 2026-04-01).
  evidence_excerpt: On April 1, 2026, Ocean Power Technologies, Inc. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain institutional investors (the “Investors”) under which the Company agreed to issue and sell convertible notes for an aggregate principal amount of $10,000,000 (the “Notes”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1378140/000149315226014548/0001493152-26-014548-index.htm

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