Recent Updates — OMEX

The SEC declared the Form S-4 registration statement effective on October 15, 2026, clearing a major regulatory hurdle for Odyssey Marine Exploration's proposed merger with American Ocean Minerals Corporation. The combined entity will operate as a U.S.-based deep-sea critical minerals platform. Concurrently, Odyssey announced it will implement a 1-for-25 reverse stock split effective October 28, 2026, to increase the trading price of its common stock and satisfy financing conditions for the transaction. Stockholders will vote on merger-related proposals at a special meeting scheduled for December 2, 2026. Odyssey Marine Exploration is an ocean exploration and marine mineral development company.

Odyssey Marine Exploration entered into an Amendment to its Note Purchase Agreement with American Ocean Minerals Corporation (AOM) on September 8, 2026. The amendment permits AOM to purchase an additional Initial Note of $500,000 and allows subsequent advances under both Existing Initial Notes and Pre-Closing Notes despite previously reached maximum principal limits. The aggregate principal for each note category may now exceed the original $5.0 million cap if AOM agrees in writing. These secured promissory notes bear interest at 8.0% per annum, capitalized quarterly, with a default rate of 11.0%. All outstanding amounts are due by April 8, 2027, or upon consummation of the merger between Odyssey and AOM. This company operates in the deep-sea mining and marine resource exploration industry.

Odyssey Marine Exploration, Inc. received a notice from Nasdaq stating it failed to meet the $1.00 minimum bid price requirement for 30 consecutive business days. The company has until January 19, 2027, to regain compliance, and it intends to use a previously approved reverse stock split of 1-for-20 to 1-for-25 to achieve this. Odyssey Marine Exploration, Inc. is a marine exploration and deep-sea mining company.