Ocean Power Technologies, Inc. filed Amendment No. 1 to its Form S-1 registration statement with the SEC on October 29, 2026, offering up to 9,375,000 shares of common stock together with common warrants to purchase up to an additional 9,375,000 shares.

Key Highlights

  • Offering size: Up to 9,375,000 shares of common stock, each paired with one common warrant to purchase one additional share, at an assumed combined price of $0.64 per share and accompanying warrant.
  • Total gross proceeds: Up to $6,000,000, assuming all securities are sold at the assumed offering price.
  • Placement agent fees: D. Boral Capital LLC will receive a cash placement commission equal to 6.0% of aggregate proceeds, or $360,000 at full placement, plus reimbursement of up to $50,000 in expenses.
  • Proceeds to the company: $0.60 per share and accompanying warrant, for total proceeds before expenses of $5,640,000 if fully sold.
  • Warrant terms: Each common warrant is exercisable for one share of common stock, expires five years from the initial exercise date, and carries a beneficial ownership cap of 4.99% (or 9.99% at the holder's election prior to issuance).
  • Last reported stock price: $0.64 per share on October 22, 2026, as reported by the filing.
  • No minimum offering: There is no minimum number of securities or amount of proceeds required as a condition to closing, according to the filing.

Ocean Power Technologies Registers Common Stock and Warrant Offering Under S-1 Amendment

According to the filing, Ocean Power Technologies, Inc. (NYSE American:OPTT), a Delaware corporation headquartered at 28 Engelhard Drive, Suite B, Monroe Township, NJ 08831, submitted Amendment No. 1 to its Form S-1 registration statement (Registration No. 333-298786) on October 29, 2026. Acting Chief Executive Officer Tracy Pagliara is identified as the agent for service in the document. The company engaged D. Boral Capital LLC as placement agent, which has agreed to use "reasonable best efforts" to place the securities but is not itself purchasing or selling any of the offered shares.

The prospectus discloses that each share of common stock is offered together with one common warrant at an assumed combined purchase price of $0.64. The common warrant exercise price is set at 100% of the combined offering price per share and accompanying warrant, with the specific dollar amount left blank in this preliminary prospectus. The filing notes that there is no established or expected active trading market for the common warrants, and the company does not intend to list them on any securities exchange, which, the filing states, means "the liquidity of the common warrants will be limited."

The filing also discloses that because there is no escrow, trust, or minimum offering amount, "investors could be in a position where they have invested in our company, but we are unable to fulfill all of our contemplated objectives due to a lack of interest in this offering." The offering is registered under Rule 415 of the Securities Act of 1933 for delayed or continuous basis sales. The company is classified as a non-accelerated filer and a smaller reporting company, and is not an emerging growth company, according to the filing.

What Was Disclosed

Ocean Power Technologies filed an amended S-1 registration statement on October 29, 2026, to register up to 9,375,000 shares of common stock and accompanying common warrants for the same number of shares, at an assumed combined price of $0.64, with D. Boral Capital LLC acting as placement agent on a best-efforts basis.