CORRESP
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549
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Attention:
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H. Christopher Owings, Assistant Director |
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Peggy Kim, Senior Attorney |
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Anita Karu, Attorney-Advisor |
April 23, 2007
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Re:
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Acceleration Request |
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Ocean Power Technologies, Inc. (the Company) |
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Registration Statement on Form S-1 |
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File No. 333-138595 |
Dear Ladies and Gentlemen:
Pursuant to Rule 460 of the General Rules and Regulations under the Securities Act of 1933
(the Act), we, as representatives of the several Underwriters, wish to advise you that we have
effected the following distribution of the Companys Preliminary Prospectus issued April 9, 2007
through the date hereof, estimated as follows:
Preliminary Prospectus dated April 9, 2007:
579 to Underwriters
5,822 to Institutions
63 to Dealers
7,288 to Others
Total: 13,752
We were advised on April 18, 2007 by the Corporate Financing Department of the National
Association of Securities Dealers, Inc. that it has reviewed the above-captioned proposed offering
and that it has determined to raise no objections with respect to the fairness of the terms and
arrangements of the offering.
In accordance with Rule 461 of the Act, we hereby join in the request of Ocean Power
Technologies, Inc. for acceleration of the effective date of the above-named Registration Statement
so that it becomes effective at 2:00 p.m. Eastern Daylight Time on April 24, 2007, or as soon
thereafter as practicable.
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Very truly yours, |
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UBS SECURITIES LLC |
BANC OF AMERICA SECURITIES LLC |
BEAR, STEARNS & CO. INC. |
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Acting severally on behalf of themselves |
and as representatives of the several |
Underwriters |
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By: |
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UBS Securities LLC |
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By: |
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/s/ DANIEL H. FLEISCHER |
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Name:
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Daniel H. Fleischer |
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Title:
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Director |
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By: |
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/s/ WALTER HULSE |
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Name:
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Walter Hulse |
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Title:
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Managing Director |