SEC Form 8-K filed by Odyssey Marine Exploration Inc.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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| Item 1.01. | Entry Into a Material Definitive Agreement. |
On March 6, 2023, Odyssey Marine Exploration, Inc. (“Odyssey”) entered into a Note and Warrant Purchase Agreement with an institutional investor (the “Initial Investor”) pursuant to which Odyssey issued and sold to the Initial Investor a promissory note in the original principal amount of $14.0 million (the “Initial Note”) and a Warrant to Purchase Common Stock (the “Initial Warrant”). Under the terms of the Initial Note, all indebtedness thereunder was to become due and payable on September 6, 2024. The Initial Investor thereafter assigned a portion of the interests in the Initial Note and the Initial Warrant to a limited number of other parties (together with the Initial Holder, the “Current Holders”).
On September 5, 2024, Odyssey and the Current Holders entered into separate amendments pursuant to which the maturity date of all the indebtedness originally represented by the Initial Note was extended from September 6, 2024, to December 6, 2024. In connection with the amendments, Odyssey also agreed to repay an aggregate amount of $3.0 million of the principal outstanding to the Current Holders on or prior to September 6, 2024.
| 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. |
Not applicable.
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 6, 2024 | By: | /s/ Mark D. Gordon | ||||
| Mark D. Gordon | ||||||
| Chairman and Chief Executive Officer | ||||||