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On June 29, 2026, Ocean Power Technologies, Inc. adopted an Amended and Restated Section 382 Tax Benefits Preservation…
OPTTOcean Power Technologies, Inc.
On June 29, 2026, Ocean Power Technologies, Inc. adopted an Amended and Restated Section 382 Tax Benefits Preservation Plan to protect its net operating losses and other tax attributes from an ownership change. The plan extends the expiration date from June 29, 2026, to June 29, 2029, and lowers the purchase price for Series A Participating Preferred Stock units from $4 to $2.25. Additionally, the Board increased the number of shares of Series A Participating Preferred Stock from 100,000 to 700,000. The company operates in the renewable energy sector, providing wave energy technology.