UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
Current Report Pursuant to Section 13 or 15(d) of
the Securities Act of 1934
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Emerging growth company
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| Item 5.03 | Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. |
On July 5, 2024, the Board of Directors (the “Board”) of Ocean Power Technologies, Inc. (the “Company”) approved an amendment and restatement (as amended and restated, the “2024 Bylaws”) of its Amended & Restated Bylaws dated June 9, 2023 (the “2023 Bylaws”). The modifications to the 2023 Bylaws which are included in the 2024 Bylaws include: (1) at all meetings of the stockholders, one-third of the voting power of all shares of capital stock entitled to vote (or deemed entitled to vote) shall constitute a quorum, (2) clarification of the requirements of the ability to receive a security clearance from the U.S. government for a potential nominee to the Board, and (3) having the U.S. District Court for the District of Delaware as the sole and exclusive forum for certain specified disputes involving the Company. The 2024 Bylaws became effective on July 5, 2024.
The foregoing summary of, and the description of, the various amendments included in the 2024 Bylaws does not purport to be complete and is qualified in its entirety by reference to the complete text of the 2024 Bylaws, a copy of which is filed hereto as Exhibit 3.1 to this Current Report on Form 8-K and which is incorporated herein by reference in its entirety.
| Item 8.01 | Other Events. |
On July 2, 2024, the Company issued a press release announcing a partnership with Unique Group to deploy the Company’s existing WAM-V Unmanned Surface Vehicles in the UAE and other countries in the Gulf Collaboration Council region. A copy of the press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference.
| Item 9.01 | Financial Statements and Exhibits. |
Exhibits
| 3.1 | Amended and Restated Bylaws of Ocean Power Technologies, Inc. dated June 28, 2024. |
| 99.1 | Press release issued on July 2, 2024. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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 thereunto duly authorized.
| Ocean Power Technologies, Inc. | |
| Dated: July 5, 2024 | /s/ Philipp Stratmann |
| Philipp Stratmann | |
| President and Chief Executive Officer |