Current Report Filing (8-k)
February 04 2020 - 9:54AM
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 Exchange Act of 1934
Date of Report (Date of earliest event reported): January 29, 2020
ODYSSEY MARINE EXPLORATION, INC.
(Exact name of registrant as specified in its charter)
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Nevada
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001-31895
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84-1018684
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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205 S. Hoover Boulevard
Suite 210
Tampa,
Florida 33609
(Address of Principal Executive Offices and Zip Code)
Registrants telephone number, including area code: (813) 876-1776
Not Applicable
(Former
Name or Former Address, if Changed Since Last Report)
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):
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange
on which registered
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Common Stock, par value $0.0001 per share
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OMEX
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NASDAQ Capital Market
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the
Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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 1.01.
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Entry Into a Material Definitive Agreement.
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The disclosure set forth below under Item 2.03 (Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant) is hereby incorporated by reference into this Item 1.01.
Item 2.03
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Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
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As previously
disclosed in the Current Report on Form 8-K (the Earlier Report) that was filed by Odyssey Marine Exploration, Inc. (Odyssey) with the Securities and Exchange Commission on
December 12, 2019, Odyssey and 37North Capital SPV 11, LLC (the Investor) entered into a Note Purchase Agreement, dated December 10, 2019 (the Purchase Agreement), pursuant to which the Investor agreed to
lend, in one or more transactions (each a Loan), up to an aggregate of $2.0 million to Odyssey, subject to the terms and conditions of the Purchase Agreement. Each Loan made under the Purchase Agreement will be evidenced by a
separate convertible promissory note (each, a Note). Unless otherwise converted into shares of Odysseys common stock pursuant to the Purchase Agreement, the entire outstanding amount of all Loans will be due and payable on
June 6, 20 (the Maturity Date).
As described in the Earlier Report, on December 10, 2019, the Investor made a Loan
to Odyssey in the amount of $539,000. On January 29, 2020, Odyssey and the Investor held a subsequent closing under the Purchase Agreement at which the Investor made an additional Loan to Odyssey in the principal amount of $490,000. The terms
and provisions of the Note issued and sold on January 29, 2020, are identical in all material respects with the Note issued and sold on December 10, 2019, except for the principal amount.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
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ODYSSEY MARINE EXPLORATION, INC.
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Dated: February 04, 2020
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By:
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/s/ Jay A. Nudi
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Jay A. Nudi
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Chief Financial Officer
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