Ocean Power Technologies Announces 1-for-30 Reverse Stock Split

What Happened

• Ocean Power Technologies, Inc. announced a reverse stock split of its common stock at a ratio of 1-for-30. Stockholders approved the amendment to the Certificate of Incorporation at a special meeting on September 10, 2026; the Board set the ratio at 1-for-30 and the Company filed a Certificate of Amendment with the Delaware Secretary of State effective 5:00 p.m. ET on September 11, 2026. The common stock will begin trading on the NYSE American on a split-adjusted basis on September 14, 2026.

Key Details

• Outstanding shares reduced from approximately 270.1 million to approximately 9.1 million (every 30 pre-split shares converted into 1 post-split share).
• Par value and total authorized shares of common and preferred stock remain unchanged; CUSIP for the common stock changed to 674870605.
• No fractional shares were issued; holders entitled to fractional shares will have their post-split holdings rounded up to the next whole share (no cash paid in lieu).
• Convertible securities, options, warrants and shares reserved under equity plans will be adjusted proportionately; the Rights Plan purchase price was mechanically adjusted from $2.25 per 1/1000 share of preferred to $67.50 per 1/1000 share (Rights per share and fraction purchasable remain unchanged), and the adjustment did not trigger any Plan “Triggering Event.”

Why It Matters

• The reverse split materially reduces the number of outstanding shares and alters per‑share counts and exercise/pricing terms for options, warrants and convertible securities as reflected above. Investors should note the effective date (Sept 11, 2026), the adjusted trading date (Sept 14, 2026), and the new CUSIP when tracking post‑split holdings or executing trades. The filing includes the Certificate of Amendment (Exhibit 3.1) and a press release announcing the split (Exhibit 99.1).