J2003
1月前
On May 14, 2025, Donald Trump is praising the American deep-sea mining company, Odyssey Marine Exploration (OMEX), and calling it "the future of energy independence". He highlighted the company's work in finding rare minerals and phosphates, crucial for energy and national defense, at a roundtable event with industrial leaders. Trump also mentioned OMEX's recent arbitration win against Mexico as a victory for U.S. companies, hinting that smart investors should watch the stock.
dinogreeves
1月前
Yes, they did, they are believers and non believers, this company doesn't have sustainable business model in either case, with the hype that this administration had regarding unleashing, rare earth minerals under the sea, this should have at least hit 100 million market cap, but definitely not a sustainable business model, too much cost involved and resources to get the bottom of the ocean and extract.
familyof5
1月前
I'm confused. In a December 2024 press release Gordon stated https://ih.advfn.com/stock-market/NASDAQ/odyssey-marine-exploration-OMEX/stock-news/95158388/odyssey-marine-exploration-forms-joint-venture-to?_gl=1*ysrdja*_gcl_au*OTYxODQyMzMwLjE3NDY0NDY3ODA. there were NO WARRANTS. This morning he says there are warrants.....
December 26th.....
Odyssey also announced that it had entered into a securities purchase agreement pursuant to which Odyssey secured $4 million in funding. The investment was led by Mr. Cortina, holders of Odyssey’s debt, and Odyssey’s lead director. It was priced at a premium to market with no warrants. The funding reflects the investors’ confidence in the joint venture's potential and will provide working capital and funding for operations as the strategic project is developed. Separately, holders of Odyssey’s debt have agreed to extend the maturity date of notes due December 2024 to December 2025 and notes due June 2025 to April 2026. Further information about the JV and these strategic transactions can be found in Odyssey’s Current Report on Form 8-K filed on December 23, 2024, available at www.odysseymarine.com or https://www.sec.gov.
Item 1.01.
Entry Into a Material Definitive Agreement.
Securities Purchase Agreement
On December 23, 2024, Odyssey Marine Exploration, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) pursuant to which the Company issued and sold an aggregate of 7,377,912 shares of common stock to certain accredited investors at a purchase price of $0.55 per share. The aggregate purchase price for the shares, before deduction of the Company’s expenses associated with the transaction, was approximately $4.1 million. The issuance and sale of the shares of common stock were exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506 thereunder. The Purchase Agreement further provides the investors with the right, but not the obligation, to purchase an additional 7,220,141 shares of common stock at a purchase price of $1.10 per share at a subsequent closing to be held on April 30, 2025. The Company and the investors also entered into a Registration Rights Agreement (the “Rights Agreement”) pursuant to which the Company agreed to prepare and file a registration statement with the Securities and Exchange Commission (the “SEC”) relating to the offer and sale of the shares of common stock on or before February 28, 2025. The investors also have certain “piggyback” registration rights under the Rights Agreement.
The Purchase Agreement and the Rights Agreement each contains representations and warranties, covenants, conditions, and other provisions customary for comparable transactions, including indemnification provisions in favor of the investors.
The foregoing descriptions of the Purchase Agreement and the Rights Agreement do not purport to be complete and are qualified in their entirety by reference to such documents, which are filed as Exhibits 10.01 and 10.02, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
This morning.....
In addition, Odyssey announced that its existing investors have invested more than $2 million into the Company since April 29, 2025, by exercising their option to purchase additional shares of common stock under the Company’s Securities Purchase Agreement (SPA) entered into in December 2024 or by exercising warrants to purchase common stock. The Company has agreed with its investors on a short extension of the deadline to purchase additional shares of common stock under the SPA and anticipates that certain investors will exercise that option.
familyof5
1月前
May 09 2025 - 4:45PM Form 8-K - Current report: As described in more detail in Item 8.01 below, the Company has subsequently regained compliance with Nasdaq Listing Rule 5550(a)(2) and the matter is now closed.
Item 8.01
Other Events.
On May 9, 2025, the Company was notified by the listing qualifications staff of Nasdaq that the Company complies with Nasdaq Listing Rule 5550(a)(2). The listing qualifications staff had notified the Company on November 4, 2024, that it did not comply with the $1.00 minimum bid price requirement for 30 consecutive business days, as required under Nasdaq Listing Rule 5550(a)(2) for the Nasdaq Capital Market, and on May 7, 2025, that it had not regained compliance prior to the 180-day deadline and therefore would be scheduled for delisting from Nasdaq unless the Company appealed the determination as described in more detail in Item?3.01 above. Because the closing bid price of the Company’s common stock has been at $1.00 per share or greater for the last ten consecutive business days, from April 25 to May 8, 2025, the staff has determined that the Company complies with the Rules and this matter is now closed
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000798528/000119312525116934/d944314d8k.htm
familyof5
1月前
On May 9, 2025, the Company was notified by the listing qualifications staff of Nasdaq that the Company complies with Nasdaq Listing Rule 5550(a)(2). The listing qualifications staff had notified the Company on November 4, 2024, that it did not comply with the $1.00 minimum bid price requirement for 30 consecutive business days, as required under Nasdaq Listing Rule 5550(a)(2) for the Nasdaq Capital Market, and on May 7, 2025, that it had not regained compliance prior to the 180-day deadline and therefore would be scheduled for delisting from Nasdaq unless the Company appealed the determination as described in more detail in Item?3.01 above. Because the closing bid price of the Company’s common stock has been at $1.00 per share or greater for the last ten consecutive business days, from April 25 to May 8, 2025, the staff has determined that the Company complies with the Rules and this matter is now closed.
Form 8-K - Current report
May 09 2025 - 4:45PM
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000798528/000119312525116934/d944314d8k.htm
familyof5 Re: familyof5
Friday, May 09, 2025 3:40:04 PM
Next catalyst early next week: NASDAQ compliance letter!.....
So as of yesterday's close OMEX became fully compliant with NASDAQ's listing guidelines in reference to minimum bid requirements over a 10 day consecutive period. That has triggered two share holder friendly events. First being OMEX has avoided and successfully eliminated the potential of being delisted from the exchange. That has triggered the second positive share holder friendly event. NO REVERSE SPLIT as that option has become null and void as outlined in a excerpt from the April 28th press released stating.....
* Reverse Stock Split: Odyssey’s annual report and proxy statement includes a proposal for a potential reverse stock split, which the company would implement only if necessary to regain compliance with the $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). This proposal is subject to approval by the company’s stockholders.
.....with those two prospects that were creating uncertainty and a drag on the stock now removed. And the recent Executive Order https://ih.advfn.com/stock-market/NASDAQ/odyssey-marine-exploration-OMEX/stock-news/95920294/odyssey-marine-exploration-confirms-sufficient-ope signed by President Trump concerning deep sea mining. The path forward has been cleared of all the negativity. The company also announced in that April 28th press release that they would have no need to access any financing through their recent shelf offering explaining it as a formality rather than a prelude.....
* Universal Shelf Registration: Odyssey filed a prospectus as part of a registration statement with the Securities and Exchange Commission (SEC) using a “shelf” registration process. The prospectus, which provides that Odyssey may sell securities in one or more offerings up to a total dollar amount of $50 million, was a routine filing following the expiration of the company’s prior universal shelf registration.
In addition, the company confirms that it currently has no specific plans to issue any securities under its universal shelf registration statement on Form S-3, which has been declared effective by the Securities and Exchange Commission (SEC) and provides Odyssey with the flexibility to access the capital markets in a timely manner. The specifics of any future offering, along with the prices and terms of any such securities offered by Odyssey, will be determined at the time of any such offering and will be described in detail in a prospectus supplement filed in connection with such offering. As previously announced, Odyssey currently anticipates that the proceeds from the Securities Purchase Agreement (SPA) executed by the company in December 2024, together with other prior funding arrangements, will continue to fund the company’s operations during 2025.
.....next up. Secure a contract.....government or otherwise.....
familyof5
1月前
Next catalyst early next week: NASDAQ compliance letter!.....
So as of yesterday's close OMEX became fully compliant with NASDAQ's listing guidelines in reference to minimum bid requirements over a 10 day consecutive period. That has triggered two share holder friendly events. First being OMEX has avoided and successfully eliminated the potential of being delisted from the exchange. That has triggered the second positive share holder friendly event. NO REVERSE SPLIT as that option has become null and void as outlined in a excerpt from the April 28th press released stating.....
* Reverse Stock Split: Odyssey’s annual report and proxy statement includes a proposal for a potential reverse stock split, which the company would implement only if necessary to regain compliance with the $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). This proposal is subject to approval by the company’s stockholders.
.....with those two prospects that were creating uncertainty and a drag on the stock now removed. And the recent Executive Order https://ih.advfn.com/stock-market/NASDAQ/odyssey-marine-exploration-OMEX/stock-news/95920294/odyssey-marine-exploration-confirms-sufficient-ope signed by President Trump concerning deep sea mining. The path forward has been cleared of all the negativity. The company also announced in that April 28th press release that they would have no need to access any financing through their recent shelf offering explaining it as a formality rather than a prelude.....
* Universal Shelf Registration: Odyssey filed a prospectus as part of a registration statement with the Securities and Exchange Commission (SEC) using a “shelf” registration process. The prospectus, which provides that Odyssey may sell securities in one or more offerings up to a total dollar amount of $50 million, was a routine filing following the expiration of the company’s prior universal shelf registration.
In addition, the company confirms that it currently has no specific plans to issue any securities under its universal shelf registration statement on Form S-3, which has been declared effective by the Securities and Exchange Commission (SEC) and provides Odyssey with the flexibility to access the capital markets in a timely manner. The specifics of any future offering, along with the prices and terms of any such securities offered by Odyssey, will be determined at the time of any such offering and will be described in detail in a prospectus supplement filed in connection with such offering. As previously announced, Odyssey currently anticipates that the proceeds from the Securities Purchase Agreement (SPA) executed by the company in December 2024, together with other prior funding arrangements, will continue to fund the company’s operations during 2025.
.....next up. Secure a contract.....government or otherwise.....
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