Business Context and Reporting Period
Company: Ocean Power Technologies, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 19, 2016
Event: Closing of a previously announced underwritten offering of common stock.
Key Financial Metrics
The filing text does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures. The report focuses exclusively on the capital raise event.
- Shares Issued: 2,760,000 shares of common stock.
- Over-Allotment: Included the full exercise of an over-allotment option for 360,000 shares.
Material Changes
The primary material change is the increase in outstanding common stock resulting from the closing of the Offering on October 19, 2016. No other operational or financial changes are detailed in this specific filing.
Guidance, Outlook, and Risks
The filing does not contain updated guidance, management commentary on future outlook, specific risk factors, or contingencies beyond the execution of the stock offering. A press release regarding the closing is referenced as Exhibit 99.1 but its content is not included in the provided text.
Investor Verification Checklist
- Verify the offering price per share and total gross proceeds in the referenced Press Release (Exhibit 99.1).
- Confirm the updated total number of shares outstanding post-offering.
- Review the underwriting agreement for details on the use of proceeds.
- Check for any dilution impact on existing shareholders.