Ocean Power Technologies Enters into $10 million Common Stock Purchase Agreement with Aspire Capital Fund
Ocean Power Technologies, Inc. (OPTT)
US:NASDAQ Investor Relations:
oceanpowertechnologies.gcs-web.com/node/5806
Company Research
Source: GlobeNewswire
MONROE TOWNSHIP, N.J., Aug. 13, 2018 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (Nasdaq: OPTT), a leader in innovative ocean energy solutions, announced today it has executed a Common Stock Purchase Agreement (the “Purchase Agreement”) with Aspire Capital Fund, LLC (“Aspire Capital”) to sell up to $10 Million in common stock to Aspire Capital over a term of 30 months, commencing after a registration statement related to the transaction has been filed and declared effective by the U.S. Securities and Exchange Commission. Proceeds will be used by Ocean Power for general corporate purposes, including working capital. George H. Kirby, President and Chief Executive Officer of Ocean Power Technologies, said, “We are excited about this partnership with Aspire Capital and the opportunity of potential future access to capital at attractive terms. It provides the Company greater flexibility and access to additional funding allowing the Company to strengthen its financial position as
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OPTT
Sec Filings
- 4/17/24 - Form SC
- 4/17/24 - Form 8-K
- 4/16/24 - Form 8-K
- OPTT's page on the SEC website