Ocean Power Technologies Inc (OPTT)

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OCEAN POWER TECHNOLOGIES, INC. (NASDAQ:OPTT), today announced the pricing of an underwritten public offering of 5,385,000 shares of its common stock at a price to the public of $1.30 per share. The gross proceeds to Ocean Power Technologies, Inc. from this offering are expected to be approximately $7,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses. Ocean Power Technologies, Inc. has granted the underwriters a 45-day option to purchase up to an additional 807,750 shares of common stock to cover over-allotments, if any. The offering is expected to close on May 2, 2017, subject to customary closing conditions.