Ocean Power Technologies Announces $20M At-The-Market Offering Agreement

What Happened

• On July 27, 2026, Ocean Power Technologies, Inc. (OPTT) announced it entered an at-the-market (ATM) sales agreement with H.C. Wainwright & Co., LLC to offer and sell up to $20.0 million of its common stock from time to time under its effective Form S-3 shelf registration. The company also filed a prospectus supplement dated July 27, 2026 in connection with the offering.

Key Details

• Aggregate offering size: up to $20,000,000 of common stock.
• Sales agent: H.C. Wainwright & Co., LLC; commission: 3.00% of gross proceeds.
• Counsel expense reimbursement: Wainwright may be reimbursed up to $50,000 for counsel expenses, plus fees for periodic diligence updates.
• Sales are at the company’s discretion and contingent on market conditions; Wainwright is not required to purchase shares as principal.

Why It Matters

• This ATM gives OPTT a flexible way to raise capital when market conditions are favorable without a single large offering. Proceeds can be used for general corporate purposes, strengthening cash position or funding operations.
• Investors should note potential dilution if shares are sold and that the company will incur selling commissions and certain fees which reduce net proceeds. The timing and amount of any share sales are not guaranteed and depend on OPTT’s capital needs and market conditions.