to-the-point: Ocean Power Tech closes USD-1.6m offering
Ocean Power Technologies Inc (NASDAQ:OPTT), or OPT, has raised net proceeds of about USD 1.6 million (EUR 1.4m) from its previously announced stock and warrant offering.
The US wave-energy technology company plans to use the funds for general corporate purposes.
OPT announced the closure of the registered direct offering on Tuesday. A total of 417,000 shares together with warrants to purchase 0.35 shares were sold to several institutional investors at a combined purchase price of USD 4.60 apiece.