Current Report Filing (8-k)
April 20 2020 - 5:29PM
Edgar (US Regulatory)
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 20, 2020
Ocean
Power Technologies, Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation)
|
|
001-33417
(Commission
File Number)
|
|
22-2535818
(I.R.S. Employer
Identification No.)
|
28 Engelhard Drive, Suite B
Monroe Township, New Jersey
(Address
of principal executive offices)
|
|
08831
(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))
|
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
|
|
Trading
Symbol (s)
|
|
Name
of each exchange on which registered
|
Common
|
|
OPTT
|
|
Nasdaq
Capital Market
|
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
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As
previously disclosed, on March 3, 2020, Ocean Power Technologies, Inc. (the “Company”) received a notification from
the Nasdaq Stock Market (the “Nasdaq”) indicating that the minimum bid price of the Company’s common stock has
been below $1.00 per share for 30 consecutive business days and as a result, the Company is not in compliance with the minimum
bid price requirement for continued listing. On April 20, 2020, the Company received a written
notice (the “Notice”) from Nasdaq indicating that, as a result of the tolling of the bid price requirements effective
April 16, 2020, the period within which the Company has to regain compliance has been extended from August 31, 2020 to November
13, 2020. The Company actively monitors the price of its common stock and will consider all available options to regain compliance
with the continued listing standards of Nasdaq.
Item
7.01. Regulation FD Disclosure.
On
April 20, 2020, the Company announced that the Company had begun production of face shields for donation to first responders.
Certain materials and equipment was donated to the Company to enable them to produce the face shields. More information regarding
the face shields can be found on the Company’s website at https://oceanpowertechnologies.com/helping-our-communities-fight-covid-19-stay-safe/.
In
accordance with General Instruction B.2. of Form 8-K, the information presented under this Item 7.01 shall not be deemed “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference
in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.
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 20, 2020
|
OCEAN
POWER TECHNOLOGIES, INC.
|
|
|
|
/s/
George H. Kirby III
|
|
George
H. Kirby III
|
|
President
and Chief Executive Officer
|
Ocean Power Technologies (NASDAQ:OPTT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Ocean Power Technologies (NASDAQ:OPTT)
Historical Stock Chart
From Sep 2023 to Sep 2024