{"schema_version":"secwatch.filing_event.v1","accession":"0001641172-25-010584","form_type":"8-K","ticker":"OPTT","cik":"0001378140","company_name":"Ocean Power Technologies, Inc.","filed_at":"2025-05-15T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.106341+00:00","generated_at":"2026-05-21T04:43:19.782115+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Ocean Power Technologies issues $10M convertible notes, option for up to $15M more","bullets":["Initial $10M notes issued at par on May 15, 2025; total offering up to $25M aggregate principal.","Notes carry 0% interest (13% upon default), mature 24 months from issuance, convertible at $0.68/share.","Monthly amortization payments in cash or common stock; prepayment allowed with 12.5% premium.","Additional $15M may be sold in subsequent closings subject to conditions including stockholder approval.","Conversion capped at 4.99% (or 9.99% at holder's option) beneficial ownership limit."],"urls":{"canonical":"https://secwatch.observer/filing/0001641172-25-010584","json":"https://secwatch.observer/filing/0001641172-25-010584.json","markdown":"https://secwatch.observer/filing/0001641172-25-010584.md","text":"https://secwatch.observer/filing/0001641172-25-010584.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1378140/000164117225010584/0001641172-25-010584-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1378140/000164117225010584/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-21T04:43:19.782115+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"40d92a8262d3c2466f1b36f262dddbe8d1803657","claim":"Ocean Power Technologies, Inc. incurred convertible notes of $10,000,000 with certain institutional investors at 13% per annum (upon default) maturing the twenty-four month anniversary of their respective issuance dates.","evidence_excerpt":"On May 15, 2025 (the \"Initial Closing Date\"), the Company issued and sold to the Investors Notes in the original aggregate principal amount of $10,000,000","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1378140/000164117225010584/0001641172-25-010584-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$10,000,000"},{"label":"Counterparty","value":"certain institutional investors"},{"label":"Rate","value":"13% per annum (upon default)"},{"label":"Maturity","value":"the twenty-four month anniversary of their respective issuance dates"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}