NEW YORK, Jan 26, 2026, 05:11 (EST) — Premarket
- OPTT shares jumped in premarket trading, extending their rise from Friday.
- Shareholders will vote on Jan. 27 on proposals to increase share issuance limits and broaden equity incentives.
- How the company funds its growth following a recent U.S. homeland security contract win could hinge on this outcome.
Shares of Ocean Power Technologies Inc climbed roughly 18% to $0.547 in premarket trading Monday, building on last Friday’s 8.1% jump when the stock closed at $0.4649. (Investing)
Time is ticking as investors gear up for a shareholder vote that might allow the microcap maritime systems maker to issue more stock. Such moves typically spark concerns about dilution, where new shares cut into the stakes of current shareholders.
Ocean Power is seeking shareholder approval to amend its charter and increase authorized common shares from 300 million to 400 million, according to its proxy statement. While this raise doesn’t issue new shares outright, it sets the stage for easier equity fundraising down the line. (SEC)
Also on the agenda is a plan to boost the 2015 equity incentive scheme, raising the share pool by 5 million to 32.28 million from 27.28 million. The company reported having under 2 million shares remaining in that pool as of Dec. 1. (SEC)
The annual meeting will take place Tuesday, Jan. 27, as a virtual-only webcast. Shareholders need to pre-register by 10 a.m. ET on Monday. The company plans to file a Form 8-K with preliminary vote results within four business days following the meeting. (SEC)
Ocean Power is shifting focus from its wave-energy origins toward what it dubs “intelligent maritime” — offering power, communications, and uncrewed systems tailored for defense, security, and offshore energy clients.
Earlier this month, it revealed a contract exceeding $5 million to deploy and operate MERROWS-equipped PowerBuoy systems for a U.S. Coast Guard mission under the Department of Homeland Security. The project also integrates with Anduril’s surveillance and command-and-control infrastructure. “This project marks another major step forward,” CEO Philipp Stratmann said in the release. (SEC)
Ocean Power posted $0.4 million in revenue for the quarter ending Oct. 31, 2025, but recorded a net loss of $10.8 million. The company pointed to a backlog near $15 million and noted that a federal government shutdown delayed some deliverables. (GlobeNewswire)
There’s a clear risk here. Even when companies pitch expanding share authorization and equity plan capacity as giving themselves flexibility, penny stock traders often see it as a sign dilution could be coming—especially if cash burn remains elevated and contract work declines.
The next major event is Tuesday’s vote. Investors want to see the meeting results — and the subsequent SEC filing — for clues on just how aggressively Ocean Power intends to raise equity in the coming months.
