13th Nov 2006 07:00
Ocean Power Technologies, Inc. ("OPT" or the "Company") announcedtoday that it has filed a registration statement with the Securitiesand Exchange Commission to register up to $100 million in shares for aproposed public offering of the Company's common stock in the UnitedStates. All shares of the common stock to be sold in the offering willbe sold by Ocean Power Technologies, Inc. £ The Company will apply to list the shares to be sold in theoffering on The NASDAQ Global Market and on the AIM market of theLondon Stock Exchange. After the offering, the Company plans tocontinue to list its common stock on the AIM market of the LondonStock Exchange. £ The Company intends to use net proceeds of the offering toconstruct demonstration wave power stations and to fund minorityinvestments in wave power station projects to encourage marketadoption of the Company's wave power stations; to fund the continueddevelopment of the Company's PowerBuoy(R) system, including increasesin system output; to expand its international sales and marketingcapabilities; and for working capital and general corporate purposes,including potential acquisitions of complementary businesses, productsor technologies. £ The joint book-running underwriters for the offering are UBSInvestment Bank, Banc of America Securities LLC and Bear, Stearns &Co. Inc. First Albany Capital Inc. is acting as co-manager. Theoffering will be made only by means of a prospectus. When available,copies of the preliminary prospectus relating to this offering may beobtained by contacting UBS Investment Bank, at 299 Park Avenue, NewYork, New York 10171, Attention: Prospectus Department, telephone(212) 821-3000; Banc of America Securities LLC, at 100 West 33rdStreet, 3rd Floor, New York, NY 10001, Attention: Capital MarketsOperations, email: [email protected]; orBear, Stearns & Co. Inc., at 383 Madison Avenue, New York, New York10179, Attention: Prospectus Department. £ A registration statement relating to these securities has beenfiled with the Securities and Exchange Commission but has not yetbecome effective. These securities may not be sold nor may offers tobuy be accepted prior to the time that the registration statementbecomes effective. This press release shall not constitute an offer tosell or the solicitation of an offer to buy nor shall there be anysale of these securities in any US state or jurisdiction in which suchoffer, solicitation or sale would be unlawful prior to registration orqualification under the securities laws of any such state. £ About Ocean Power Technologies £ Ocean Power Technologies, Inc. develops and is commercializingproprietary systems that generate electricity by harnessing therenewable energy of ocean waves. The Company's PowerBuoy(R) system isbased on modular, ocean-going buoys, which have been ocean tested fornearly a decade. Copyright Business Wire 2006Related Shares:
Optima Health