Odyssey Marine Exploration (NASDAQ: OMEX), a global subsea mineral exploration and development company, has entered into subscription agreements with certain institutional investors. The agreements include purchasing approximately 4.9 million units — worth an estimated $16.5 million — in a registered direct offering. According to the announcement, each unit will include one share of common stock and one warrant to purchase an additional share of common stock; the warrants will be exercisable any time six months after the date of issuance and before the fifth anniversary of issuance. The announcement noted that the purchase price for each unit will be $3.35 and the warrants will also have an exercise price of $3.35. The company anticipates using the funds from the registered direct offering, which was slated to close by June 10, 2022, to reduce debt and for general corporate purposes.
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About Odyssey Marine Exploration Inc.
Odyssey Marine Exploration is a deep-ocean exploration pioneer engaged in the discovery, validation and development of high-value seafloor resources in a socially and environmentally responsible manner. Odyssey’s growing project portfolio includes different mineral sets in various jurisdictions around the world. Odyssey also provides marine services for private clients and governments. For more information about the company, please visit www.OdysseyMarine.com.
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