Ocean Power Technologies issues $373,750 12% promissory note to Vanquish Funding Group

Bitget2026/11/03 21:20

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Ocean Power Technologies issued a $373,750, 12% promissory note to Vanquish Funding Group under a Nov. 2, 2026, financing agreement.
The $325,000 purchase price reflects a $48,750 original issue discount; proceeds will fund general working capital.
The note matures Oct. 30, 2027; additional financing of up to $2.88 million over 12 months requires further agreement.
A continuing default triggers immediate repayment at 150% of outstanding principal, accrued interest and other applicable amounts.
Following continuing default, conversion is permitted after 180 days at 75% of the lowest closing bid over 10 preceding trading days.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ocean Power Technologies Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-049788), on November 03, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Ocean Power Technologies issues $373,750 12% promissory note to Vanquish Funding Group

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