Odyssey Marine Exploration Inc. filed SEC Form 8-K: Other Events
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| Item 8.01 | Other Events. |
Notice of Arbitration Award
On September 17, 2024, Odyssey Marine Exploration, Inc. (“Odyssey”) received notification from the International Centre for Settlement of Investment Disputes (“ICSID”) of the arbitral award on the claims brought by Odyssey on behalf of itself and Exploraciones Oceánicas S. de R.L. de C.V., a subsidiary of Odyssey (“ExO” and, together with Odyssey, the “Claimant”), against the United Mexican States under Chapter Eleven of the North American Free Trade Agreement.
The arbitral tribunal issued an award in favor of the Claimant. The award orders Mexico to pay US$37.1 million for breaching its obligations under NAFTA, plus interest at the one-year Mexico Treasury bond rate, compounded annually, from October 12, 2018, until the award is paid in full, plus the arbitrators’ fees and ICSID administrative costs. The amounts awarded are net of Mexican taxes and Mexico may not tax the award.
Press Release
On the date hereof, Odyssey issued a press release announcing the matter described above in Item 8.01 and other information. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.
The information in Exhibit 99.1 is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
| (a) | Financial Statements of Businesses Acquired. |
Not applicable.
| (b) | Pro Forma Financial Information. |
Not applicable.
| (c) | Shell Company Transactions. |
Not applicable.
| (d) | Exhibits. |
| 99.1 | Press release issued by Odyssey Marine Exploration, Inc. on September 17, 2024. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ODYSSEY MARINE EXPLORATION, INC. | ||||||
| Dated: September 17, 2024 | By: | /s/ Mark D. Gordon | ||||
| Mark D. Gordon | ||||||
| Chief Executive Officer | ||||||