Ocean Power Technologies (OPTT) announced that its Board of Directors has initiated a review of strategic alternatives with the goal of maximizing value for its stockholders. The company is considering a full range of options to accelerate growth, expand market access, and strengthen its financial position.
Key Details
- Financial Advisor: The company has retained Bowen, Inc. as its financial advisor to assist with the review process.
- Objective: The review aims to identify opportunities that could accelerate OPT's growth, expand market access, and strengthen its financial standing.
- Process & Timeline: No timetable has been set for completion, and the company has stated there is no assurance that the review will result in any specific transaction.