Dividends & Buybacks ·
Ocean Power Technologies, Inc. announced that its stockholders approved a 1-for-30 reverse stock split of its common…
OPTTOcean Power Technologies, Inc.
Ocean Power Technologies, Inc. announced that its stockholders approved a 1-for-30 reverse stock split of its common stock at a special meeting on September 10, 2026. The Board exercised its authority to set the ratio within the authorized range of 1-for-5 to 1-for-50. The split became effective at 5:00 p.m. Eastern Time on September 11, 2026, following the filing of a Certificate of Amendment with Delaware. Trading on a split-adjusted basis commenced on the NYSE American on September 14, 2026. This action reduced the issued and outstanding shares from approximately 270.1 million to roughly 9.1 million while maintaining the $0.001 par value. Fractional shares were rounded up to whole shares with no cash payments made in lieu of fractions. The company operates in the maritime technology sector, providing autonomous ocean systems, power buoys, and unmanned surface vessels for defense, energy, and research markets.