Ocean Power Technologies Announces Pricing of $3.0 Million Public Offering

(NYSE:OPTT) Ocean Power Technologies, Inc. announced the pricing of its previously announced public offering of 6,000,000 shares of common stock together with common warrants to purchase up to 6,000,000 shares of common stock, on a "best-efforts" basis. The warrants will have an exercise price of $0.50 per share and will expire 5 years from the date of issuance. The common stock is listed on the NYSE American under the symbol "OPTT". D. Boral Capital LLC is acting as the exclusive placement agent for the Offering. The closing of the Offering is expected to occur on or about November 16, 2026, subject to the satisfaction of customary closing conditions. Ocean Power Technologies expects to receive aggregate gross proceeds of $3.0 million from the Offering, before deducting placement agent fees and other related expenses. The shares of common stock and common warrants are being offered by the Company pursuant to an effective registration statement on Form S-1/A (Registration No. 333-298786), which was declared effective by the U.S. Securities and Exchange Commission on November 12, 2026. A definitive prospectus describing the terms of the proposed offering will be filed with the SEC. Once filed, it will be available on the SEC’s website. A copy of the definitive prospectus relating to the offering may be obtained, when available, from D. Boral Capital LLC. The press release states that it does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.