Mergers & Acquisitions ·
Ocean Power Technologies entered into an asset purchase agreement on July 22, 2026, to acquire subsea intellectual…
OPTTOcean Power Technologies, Inc.
Ocean Power Technologies entered into an asset purchase agreement on July 22, 2026, to acquire subsea intellectual property from Columbia Power Technologies, Inc. for $2,900,000 in common stock (10,984,848 shares). The company also terminated its At Market Issuance Sales Agreement with Ladenburg Thalmann & Co. Inc. without penalty. Additionally, the company reported fiscal year 2026 results ending April 30, 2026, featuring $4.1 million in total revenue, a net loss of $44.8 million, and a record backlog of $19.8 million. On July 21, 2026, Rear Admiral Joseph A. DiGuardo Jr. was appointed to the Board of Directors as Acting Chairman, replacing retiring Chairman Terence J. Cryan. Ocean Power Technologies provides intelligent maritime solutions and services for defense, security, and commercial ocean operations.