Business Context and Reporting Period
Company: Ocean Power Technologies, Inc. (OPTT)
Filing Type: Form 8-K (Current Report)
Date of Report: June 8, 2021
Reporting Period: Event date of June 8, 2021
The Company, incorporated in Delaware, operates as a developer of ocean energy technologies. This filing reports a corporate action regarding the transfer of its stock listing.
Key Financial Metrics
This Form 8-K does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing is strictly informational regarding a listing transfer.
Material Changes
- Listing Transfer: The Company voluntarily withdrew its Common Stock from The Nasdaq Capital Market.
- New Listing Venue: The stock was transferred to the NYSE American stock exchange.
- Trading Symbol: The ticker symbol "OPTT" remains unchanged.
- Timeline: Trading on Nasdaq was scheduled to end at market close on June 17, 2021, with trading on the NYSE American commencing at market open on June 18, 2021.
Guidance, Outlook, and Risks
Management Commentary: The transfer was executed pursuant to authorization from the Board of Directors. The Company confirmed that the Common Stock has been approved for listing on the NYSE American.
Risks and Contingencies: The filing does not disclose specific financial risks or contingencies beyond the operational transition of the listing venue.
Investor Verification Checklist
- Verify the cessation of trading on Nasdaq and commencement on NYSE American on the specified dates (June 17-18, 2021).
- Confirm that the ticker symbol "OPTT" remains active on the new exchange.
- Review the press release filed as Exhibit 99.1 for additional context on the strategic rationale for the transfer.
- Check subsequent filings for any financial impact or liquidity changes resulting from the exchange transfer.