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Ocean Power Tech prices underwritten public offering of stock

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Pennington-based Ocean Power Technologies Inc. announced Friday the pricing of its public offering of 3.8 million shares of common stock at a price of $3.10 per share.

According to the announcement, the company has granted underwrites a 30-day option to buy 570,000 shares.

Ocean Power expects to receive approximately $10.8 million from the offering, the company said in a recent press release.  The offering is expected to close on April 9.

Roth Capital Partners is acting as the sole manager for the offering, the company announced.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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