OPTT - Mergers and acquisitions

Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that its Board of Directors has approved the adoption of a tax benefits preservation plan (or "the plan") in the form of a Section 382 Rights Agreement. The plan is designed to protect and preserve OPT's tax assets primarily associated with net operating loss carryforwards or NOLs that could potentially be utilized in certain circumstances to offset OPT's future taxable income and reduce its federal income tax liability. Section 382 of the Internal Revenue Code imposes limitations on the future use of a company

MONROE TOWNSHIP, N.J., Nov. 16, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced the Company closed on an acquisition of Marine Advanced Robotics, Inc. ("MAR"), a Richmond (San Francisco Bay Area), California-based developer and manufacturer of autonomous surface vehicles (ASVs). This acquisition immediately provides OPT with an established, innovative offshore product line that features roaming capability and highly complements the OPT business strategy. Marine Advanced Robotics, Inc. OverviewFounded in 2004, MAR is the developer o

MONROE TOWNSHIP, N.J., Feb. 02, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy solutions, today announced the acquisition of 3Dent Technology, LLC ("3Dent"), an offshore energy engineering and design services company based in Houston, Texas. OPT’s first acquisition brings additional revenue from 3Dent’s established project and customer base. 3Dent’s complementary services expand OPT’s ability to provide comprehensive solutions to customers operating in rapidly evolving markets such as offshore wind and offshore oil and gas. 3Dent Technology will operate under its current brand name as a