Ocean Power Technologies Announces Pricing of $10,000,000 Registered Direct Offering Priced At A Premium to Market

MONROE TOWNSHIP, N.J., June 05, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), today announced that it has entered into securities purchase agreements with certain institutional investors for the purchase and sale of 25,000,000 shares of the Company’s common stock together with common warrants to purchase up to 25,000,000 shares of common stock in a registered direct offering at a combined purchase price of $0.40 per share of common stock and accompanying common warrant. The offering was priced at a premium to yesterday’s closing price. The common warrants will be exercisable on the six month anniversary of the date of issuance at an exercise price of $0.40 per share and will expire 6 years from the initial date of exercise.