secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2026-04-01T23:59:59+00:00
Accession:  0001493152-26-014548
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315226014548/0001493152-26-014548-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315226014548/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-014548

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