Ocean Power Technologies Inc (NYSE-A:OPTT) will carry out a 1-for-30 reverse stock split, with shares trading on a split-adjusted basis starting September 14, 2026.
The company said the split is meant to raise its per-share price and improve marketability and liquidity.
Every 30 existing shares will be combined into one. No fractional shares will be issued; holders otherwise due a fraction will instead get one whole share.
Ownership percentages stay unchanged, and stockholders need not take any action. Outstanding warrants and other derivatives will adjust automatically per their terms.
After the split, OPT expects roughly 9.1 million shares outstanding.
The split also triggered a proportional adjustment to the purchase price of preferred stock rights under the company's Section 382 Tax Benefits Preservation Plan with Computershare Trust Company as rights agent. The purchase price rose from $2.25 to $67.50 per one-thousandth of a share of Series A Participating Preferred Stock, reflecting the 30-to-1 ratio. The fraction of preferred stock per right and the one-right-per-share ratio remain unchanged.
