secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2026-07-23T20:56:00+00:00
Accession:  0001493152-26-034425
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPT acquires subsea IP for 10.98M shares; FY26 revenue $4.1M, backlog up 58% to $19.8M
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- Acquired subsea IP from Columbia Power Technologies for 10,984,848 shares valued at $2.9M based on trailing 30-day VWAP.
- FY26 revenue $4.1M; record backlog $19.8M (+58% YoY); sales pipeline $142.3M.
- Secured largest contract in history: ~$6.5M multi-PowerBuoy program with U.S. Coast Guard.
- Appointed Rear Admiral Joseph DiGuardo as Acting Chairman; Terence Cryan retired after 14 years.
- Cash and short-term investments $8.7M at April 30, 2026; terminated ATM sales agreement with Ladenburg Thalmann.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315226034425/0001493152-26-034425-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315226034425/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-034425

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