UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Act of 1934
Date of Report (Date of earliest event reported): April 5, 2018
Ocean Power Technologies, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-33417 | 22-2535818 | ||
| (State or other jurisdiction | (Commission | (I.R.S. Employer | ||
| of incorporation) | File Number) | Identification No.) |
| 28 Engelhard Drive | ||
| Monroe Township, New Jersey | 08831 | |
| (Address of principal executive offices) | (Zip Code) |
(609) 730-0400
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14-2(b)) | |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CRF 240.133-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 7.01. Regulation FD Disclosure.
On April 5, 2018, Ocean Power Technologies, Inc. issued a press release announcing that it will be discussing its anchorless sonar PowerBuoyTM at the Navy Forum for SBIR/STTR Transition in National Harbor, Maryland on Monday, April 9th. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information set forth in this Item 7.01 and in the attached Exhibit 99.1 shall be deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.
Item 9.01 Financial Statements and Exhibits.
*Furnished herewith.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 6, 2018
| OCEAN POWER TECHNOLOGIES, INC. | |
| /s/ George H. Kirby III | |
| George H. Kirby III | |
| President and Chief Executive Officer |
Exhibit 99.1
 |
NEWS RELEASE |
Ocean Power Technologies to Highlight Its Anchorless PowerBuoyTM at Global Maritime Exposition
MONROE TOWNSHIP, N.J., April 05, 2018 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (Nasdaq: OPTT) announced today that it will be discussing its anchorless sonar PowerBuoyTM at the Navy Forum for SBIR/STTR Transition in National Harbor, Maryland on Monday, April 9th. The Navy Forum has been a long-standing venue for connecting SBIR/STTR-funded technologies with other governmental entities, defense suppliers, and other potential partners and collaborators. OPT’s anchorless PowerBuoyTM is a sponsored project by the Department of Defense Office of Naval Research, focused on a motion based, wave energy harvesting technology that is steerable to accommodate multiple concepts of operation such as self-propelling from a distance, and ship-based launch, operation, and recovery. The device leverages proven OPT designs and capabilities such as energy storage and wave energy analysis.
OPT’s Principal Technologist, Dave Stewart, will be speaking during the event’s “Tech Talk” on Monday, April 9, 2018 at 2:00 PM in the Annapolis 4 room. “Our anchorless and steerable buoy is a game changer for OPT. We believe our anchorless PowerBuoysTM have the ability to transform offshore operations for the defense and security sectors and may also have a place within offshore oil and gas, science, and research” stated George Kirby, President and Chief Executive Officer of Ocean Power Technologies.
OPT’s booth number is #159, which is in the Woodrow Wilson Ballroom.
About Ocean Power Technologies
Headquartered in New Jersey, Ocean Power Technologies aspires to transform the world through durable, innovative and cost-effective ocean energy solutions. Our PB3 PowerBuoy™ uses ocean waves to provide clean, reliable and persistent electric power and real-time communications for remote offshore applications in markets such as oil and gas, defense, security, science and research, and communications. To learn more, visit www.oceanpowertechnologies.com.
Forward-Looking Statements
This release may contain “forward-looking statements” that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as “may”, “will”, “aim”, “will likely result”, “believe”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”, “goal”, “project”, “should”, “will pursue” and similar expressions or variations of such expressions. These forward-looking statements reflect the Company’s current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates which could be inaccurate and which are subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company’s most recent Forms 10-Q and 10-K and subsequent filings with the SEC for a further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
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| Investor Relations Contact: | |
| Steve Calk or Jackie Marcus | |
| Alpha IR Group | |
| Phone 312 445-2870 | |
| Email: OPTT@alpha-ir.com | |
| Media Contact: | |
| Marilyn Vollrath | |
| Reputation Partners, LLC | |
| Phone: 414 376-8834 | |
| Email: Marilyn@reputationpartners.com |