Source-grounded facts extracted from Ocean Power Technologies, Inc.'s SEC 8-K filings across all families, newest first. Each cites a verbatim SEC excerpt.
Ocean Power Technologies, Inc. entered into Securities Purchase Agreement with those institutional accredited investors identified on the signature page thereto valued at $10.0 million (effective 2026-06-04).
“On June 4, 2026, Ocean Power Technologies, Inc. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with those institutional accredited investors identified on the signature page thereto (the “Purchasers”)”
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.
“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”)”
Ocean Power Technologies, Inc. entered into Securities Purchase Agreement with certain institutional investors valued at $10,000,000 (effective 2026-04-01).
“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”)”
Ocean Power Technologies, Inc. reported the third quarter ended January 31, 2026 results: revenue $400 thousand to $600 thousand, net income approximately $11.3 to $11.5 million.
“and geographic expansion, reinforcing OPT’s role as a provider of persistent, mission-critical maritime infrastructure for U.S. national security. ● Revenue: Estimated to be $400 thousand to $600 thousand for Q3FY26, compared to $0.8 million for the same period last year ● Net Loss: Anticipated net loss of approximately $11.3 to $11.5 million, compared to $6.7”
Ocean Power Technologies, Inc. incurred convertible notes of $6,500,000 of additional Notes with certain institutional investors.
“On October 7, 2025, the Company issued and sold to the Investors $6,500,000 of additional Notes.”
Ocean Power Technologies, Inc. engaged Baker Tilly US, LLP as its auditor.
“the Audit Committee of the Company’s Board of Directors approved the appointment of Baker Tilly, as the successor to Moss Adams, as the Company’s independent registered public accounting firm.”
Moss Adams LLP resigned as auditor of Ocean Power Technologies, Inc..
“In connection with the notification of the merger, Moss Adams has resigned as the auditors of the Company and the Audit Committee of the Company’s Board of Directors approved the appointment of Baker Tilly, as the successor to Moss Adams, as the Company’s independent registered public accounting firm.”
Matthew Burdyny resigned as Chief Commercial Officer at Ocean Power Technologies, Inc..
“Matthew Burdyny notified the Company of his intent to resign from the office of Chief Commercial Officer of the Company, which resignation will be effective June 13, 2025.”
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.
“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”
Tracy Pagliara was appointed as Senior Vice President, General Counsel and Secretary at Ocean Power Technologies, Inc..
“Effective January 16, 2025, as noted in Item 1.01 above, Tracy Pagliara was appointed Senior Vice President, General Counsel and Secretary of the Company.”
Robert Powers changed role as Chief Financial Officer at Ocean Power Technologies, Inc..
“Robert Powers, the Company’s Chief Financial Officer, will now also serve as principal accounting officer.”
Joseph DiPietro departed as Corporate Controller, Treasurer and principal accounting officer at Ocean Power Technologies, Inc..
“Effective April 26, 2024, Joseph DiPietro, the Company’s Corporate Controller, Treasurer and principal accounting officer, departed from the Company.”
Ocean Power Technologies, Inc. entered into Sales Agreement with A.G.P./Alliance Global Partners valued at up to $7,000,000 (effective 2024-03-21).
“On March 21, 2024, Ocean Power Technologies, Inc. (the “Company”) entered into a sales agreement with A.G.P./Alliance Global Partners (“A.G.P.”), pursuant to which the Company may offer and sell shares of its common stock, par value $0.001 per share (the “Common Stock”), having an aggregate offering price of up to $7,000,000 (the “Shares”), to or through A.G.P., as sales agent (the “Sales Agreement”), from time to time, in an “at the market offering””
Ocean Power Technologies, Inc. reported third quarter ended January 31, 2024 results: revenue $1.8 million.
“including cost optimization, accelerated revenue growth, partnerships, or other mechanisms. FINANCIAL HIGHLIGHTS – Q324 Income Statement: ● Revenues for Q324 were $1.8 million, compared to $0.7 million in Q323. Revenues for the nine months ended January 31, 2024, were $4.0 million, compared to $1.8 million for the nine months ended January 31, 2023.”
Ocean Power Technologies, Inc. shareholders approved Advisory vote on compensation of named executive officers at the 2024-02-28 meeting.
“Proposal 5: The proposal to approve, by a non-binding advisory vote, the compensation of the Company’s named executive officers was approved and the voting results were as follows: Number of Votes Voted For Number of Votes Voted Against Number of Votes Abstaining Number of Broker Non-Votes 11,641,066 5,815,478 1,145,830 10,502,979”
Ocean Power Technologies, Inc. shareholders approved Ratification of selection of EisnerAmper LLP as independent registered public accounting firm at the 2024-02-28 meeting.
“Proposal 4: The proposal to ratify, by a non-binding advisory vote, the selection of EisnerAmper LLP as the Company’s independent registered public accounting firm for the fiscal year ending April 30, 2024 was approved and the voting results were as follows: Number of Votes Voted For Number of Votes Voted Against Number of Votes Abstaining 23,466,038 4,011,964 1,627,351”
Ocean Power Technologies, Inc. shareholders approved Ratification of adoption of Section 382 Tax Benefits Preservation Plan at the 2024-02-28 meeting.
“Proposal 3: The proposal to ratify, by a non-binding advisory vote, the adoption of the Company’s Section 382 Tax Benefits Preservation Plan, dated as of June 29, 2023, by and between the Company and Computershare Trust Company, N.A., as Rights Agent, was approved and the voting results were as follows: Number of Votes Voted For Number of Votes Voted Against Number of Votes Abstaining Number of Broker Non-Votes 12,732,224 4,606,344 1,262,905 10,503,880”
Ocean Power Technologies, Inc. shareholders approved Approval of amendment to 2015 Omnibus Incentive Plan to increase share reserve at the 2024-02-28 meeting.
“Proposal 2: The proposal to approve an amendment to the 2015 Plan to increase the number of shares of the Common Stock available for grant under the 2015 Plan from 4,382,036 to 7,282,036 in order to ensure that adequate shares will be available under the 2015 Plan for future grants and to amend the aggregate number of shares available for incentive awards was approved and the voting results were as follows: Number of Votes Voted For Number of Votes Voted Against Number of Votes Abstaining Number of Broker Non-Votes 11,550,621 6,234,120 816,733 10,503,879”
Ocean Power Technologies, Inc. shareholders approved Election of six directors at the 2024-02-28 meeting.
“Proposal 1: Each of the six individuals named below under “Name of Company Nominee” was re-elected to the Board, to serve until the 2024 Annual Meeting or until his or her respective successor has been elected and qualified, or until the director’s earlier death, resignation, or removal. As to each of the Company’s nominees for director, the results of the voting were as follows: Name of Company Nominee Number of Votes Voted For Number of Votes Withheld Number of Broker Non-Votes Terence J. Cryan 12,838,890 5,751,223 10,515,240 Philipp Stratmann 13,739,243 4,850,340 10,515,770 Clyde W. Hewlett 13,812,047 4,777,536 10,515,770 Diana G. Purcell 15,011,114 3,558,713 10,535,526 Peter E. Slaiby 13,798,954 4,790,629 10,515,770 Natalie Lorenz-Anderson 15,305,056 3,264,771 10,535,526”
Ocean Power Technologies, Inc. amended Amendment with PPF Industrial 28 Engelhard, LLC (effective 2024-02-22).
“On February 22, 2024, and effective February 8, 2024, Ocean Power Technologies, Inc. (the “Company”) entered into an amendment (the “Amendment”) to its Industrial Lease Agreement with PPF Industrial 28 Engelhard, LLC dated March 31, 2017 (the “Lease”).”
Ocean Power Technologies, Inc. reported fiscal second quarter ended October 31, 2023 results: revenue $0.9 million.
“31, 2022. The pipeline continues to grow, reflecting a significant increase in defense and security activity as well as an expansion of commercial opportunities. ● Revenues of $0.9 million for Q224 grew $0.6 million over revenues of $0.3 million for the fiscal quarter ended October 31, 2022 (“Q223”). Revenue for the six months ended October 31, 2023 was $2.2”
Matthew Burdyny was appointed as Chief Commercial Officer at Ocean Power Technologies, Inc..
“Effective November 9, 2023, as noted in Item 1.01 above, Matthew Burdyny was appointed Chief Commercial Officer of the Company.”
Ocean Power Technologies, Inc. reported fiscal first quarter ended July 31, 2023 results: revenue $1.3 million, net income $7.0 million.
“interest from offshore wind companies for autonomous monitoring, surveillance and survey-related services during various stages of the project development cycle. ● Revenues of $1.3 million for Q124 grew $0.6 over revenues of $0.7 million for the fiscal quarter ended July 31, 2022 (“Q123)”. ● Gross profit for Q124 was $0.7 million, compared to gross profit of $0.2”
Ocean Power Technologies, Inc. entered into Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. (effective 2023-08-07).
“On August 7, 2023, Ocean Power Technologies, Inc. (the “Company”) entered into a Controlled Equity Offering Sales Agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor”), as sales agent, pursuant to which the Company may offer and sell, from time to time, through Cantor shares of its common stock, par value $0.001 per share (the “Shares”).”
Ocean Power Technologies, Inc. updated its fiscal year 2024 guidance (initiated).
“Introduction of Fiscal 2024 Annual Guidance The Company is also introducing the following select guidance for full-year fiscal 2024: ● Contracted orders for FY24 are expected to be approximately $15 million. This represents growth of more than 2x over FY23.”
Ocean Power Technologies, Inc. reported fiscal year ended April 30, 2023 results: revenue $2.7 million, net income ($26.3) million.
“FY23 FINANCIALS ● Revenues for FY23 increased to $2.7 million, a 55.3% increase over FY22. This growth has been driven by sales of WAM-V autonomous vehicles and an increase in strategic consulting services during the year. ● Gross profit for FY23 was $0.2 million, as compared to a gross loss of $(0.1) million for FY22. ● Operating expenses were $28.3 million in FY23, as compared to $21.5 million in FY22, primarily due to the inclusion of a full year of activity related to our MAR acquisition, and strategic increases in bonus and headcount, including additional resource needs in the areas of sales and marketing. ● Net loss was ($26.3) million for FY23, as compared to a net loss of ($18.9) million for FY22 which included non-cash equity compensation expense of $1.5 million and $1.2 million for FY23 and FY22, respectively.”
Ocean Power Technologies, Inc. reported fiscal fourth quarter ended April 30, 2023 results: revenue $1.0 million, net income ($9.5) million.
“4Q23 FINANCIALS ● Revenues for the 4Q23 were $1.0 million, 29.5% growth over 4Q22 revenues. ● Gross loss for 4Q23 was $133 thousand, as compared to a gross loss of $44 thousand in Q422. ● Operating expenses were $8.8 million in the 4Q23, up sequentially from $7.2 million in 3Q23, due to timing of projects and programs. ● Net loss was ($9.5) million for 4Q23, as compared to a net loss of ($5.1) million for the 4Q22.”
Ocean Power Technologies, Inc.: Adoption of Series A Certificate of Designations designating Series A Participating Preferred Stock in connection with Tax Benefits Preservation Plan (effective 2023-06-30).
“In connection with the adoption of the Tax Benefits Preservation Plan described in Item 1.01 above, on June 29, 2023, the Board approved the Series A Certificate of Designations to designate the Series A Participating Preferred Stock. The Company intends to file the Series A Certificate of Designations with the Secretary of State of the State of Delaware on June 30, 2023.”
Ocean Power Technologies, Inc.: Board approved amendments to restate the By-Laws, enhancing procedural mechanics for stockholder nominations and proposals, adding disclosure requirements, questionnaires, and representation agreements (effective 2023-06-09).
“On June 9, 2023, and immediately effective as of such date, the Board of Directors (the “ Board ”) of Ocean Power Technologies, Inc., a Delaware corporation (the “ Company ”), approved amendments to amend and restate the Company’s By-Laws”
Ocean Power Technologies, Inc. terminated AGP Agreement with A.G.P/Alliance Global Partners (effective 2023-06-02).
“Effective June 2, 2023, Ocean Power Technologies, Inc. (the “Company”) terminated its At the Market Offering Agreement with A.G.P/Alliance Global Partners (“AGP”) dated November 20, 2020 (the “AGP Agreement”).”
Ocean Power Technologies, Inc. reported nine months ended January 31, 2023 results: revenue $1.8 million, net income $16.8 million.
“Revenues of $1.8 million for the nine months ended Q323, increased 74.7%, over revenues of $1.0 million for the same timeframe in the prior year.”
Ocean Power Technologies, Inc. reported fiscal third quarter ended January 31, 2023 results: revenue $0.7 million, net income $6.1 million.
“Revenues for the Q323 were $0.7 million, reflecting a growth of 51.7% over Q322 revenues.”
Ocean Power Technologies, Inc. shareholders approved Advisory vote on frequency of say-on-pay at the 2023-01-13 meeting.
“The result of the vote on the advisory resolution on the frequency of future advisory votes on our executive compensation was as follows: One year Two years Three years Number of Votes Abstaining Number of Broker Non-Votes 14,833,483 957,477 1,530,386 1,009,628 9,765,491”
Ocean Power Technologies, Inc. shareholders approved Advisory vote to approve executive compensation at the 2023-01-13 meeting.
“The result of the vote on the advisory resolution to approve the Company’s executive officer compensation was as follows: Number of Votes Voted For Number of Votes Voted Against Number of Votes Abstaining Number of Broker Non-Votes 12,874,650 3,948,633 1,507,691 9,765,491”
Ocean Power Technologies, Inc. shareholders approved Ratification of EisnerAmper LLP as independent registered public accounting firm for fiscal year 2023 at the 2023-01-13 meeting.
“The result of the vote to ratify the selection of EisnerAmper LLP as the Company’s independent registered public accounting firm for fiscal year 2023 was as follows: Number of Votes Voted For Number of Votes Voted Against Number of Votes Abstaining Number of Broker Non-Votes 25,919,610 859,998 1,316,858 -”
Ocean Power Technologies, Inc. shareholders approved Amend 2015 Omnibus Incentive Plan to increase shares from 3,132,036 to 4,382,036 and make other amendments at the 2023-01-13 meeting.
“The result of the vote to approve an amendment to the 2015 Plan to increase the number of shares of the Common Stock available for grant under the 2015 Plan from 3,132,036 to 4,382,036 in order to ensure that adequate shares will be available under the 2015 Plan for future grants and to make certain other amendments to the 2015 Plan regarding award threshold limits was as follows: Number of Votes Voted For Number of Votes Voted Against Number of Votes Abstaining Number of Broker Non-Votes 12,955,071 4,355,471 1,020,433 9,765,491”
Ocean Power Technologies, Inc. shareholders approved Election of six directors at the 2023-01-13 meeting.
“As to each nominee for director, the results of the voting were as follows: Name of Nominee Number of Votes Voted For Number of Votes Withheld Number of Broker Non-Votes Terence J. Cryan 16,072,359 2,258,616 9,765,491 Philipp Stratmann 16,725,159 1,605,816 9,765,491 Clyde W. Hewlett 16,637,352 1,693,623 9,765,491 Diana G. Purcell 16,403,362 1,927,613 9,765,491 Peter E. Slaiby 16,578,538 1,752,437 9,765,491 Natalie Lorenz-Anderson 16,555,066 1,775,909 9,765,491”
Ocean Power Technologies, Inc. reported fiscal second quarter ended October 31, 2022 results: revenue $0.3 million, net income $4.8 million.
“● Revenues for the 2Q23 were $0.3 million, as compared to $0.2 million in 2Q22. Revenues increased to $1.0 million for the six months ended 2Q23, as compared to $0.5 million for the same period in the six month period, reflecting growth of 96.0%. This growth has been driven by sales of WAM-V’s and an increase in Strategic Consulting Services during the first six months ended 2Q23. 1 ● Engineering and product development costs were $1.8 million in the 2Q23, down slightly from the $2.2 million in 1Q23 due to timing of projects and programs. ● Selling, general, and administrative (SG&A) costs were $4.6 million for the 2Q23, reflecting an increase over $4.1 million for 1Q23. This increase is mainly related to increased payroll related expenses in the quarter. ● Net loss was $4.8 million for the 2Q23, as compared to $5.2 million for the 2Q22. Net loss was $10.7 million for the six months ended 2Q23, as compared to a net loss of $8.3 million for the same period 2Q22.”
Joseph DiPietro changed role as acting principal financial officer at Ocean Power Technologies, Inc..
“Joseph DiPietro, the Company’s Controller, Treasurer and principal accounting officer, will no longer serve as acting principal financial officer.”
Robert P. Powers was appointed as Senior Vice President and Chief Financial Officer at Ocean Power Technologies, Inc..
“Robert P. Powers was appointed Senior Vice President and Chief Financial Officer of the Company.”
Matthew T. Shafer resigned as Senior Vice President, Chief Financial Officer, and Treasurer at Ocean Power Technologies, Inc..
“On September 21, 2021, but effective September 23, 2021, Matthew T. Shafer, Senior Vice President, Chief Financial Officer, and Treasurer, as well as principal financial officer and principal accounting officer, of the Company, resigned from the Company.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.