US wave energy outfit Ocean Power Technologies (OPT) is to offer shares of its common stock to generate working capital and to fund other general corporate activities.
The company said the offering is subject to market conditions, and “there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering”.
Aegis Capital Corp is acting as the sole placement agent for the offering.
OPT has developed wave energy technology called PowerBuoy (pictured).
Image: OPT
OPT to raise war chest
Share offering to generate funds for working capital and corporate purposes
By EBS