IPO - ODYSSEY MARINE EXPLORATION INC

Form Type: 424B1

Filing Date: 2025-02-07

Corporate Action: Ipo

Type: New

Accession Number: 000119312525022760

Filing Summary: On February 7, 2025, Odyssey Marine Exploration Inc. filed a prospectus indicating the offering of up to 40,924,202 shares of common stock by selling stockholders. The shares offered are related to a securities purchase agreement, outstanding warrants, convertible notes, and consulting agreements. A private placement in December 2024 resulted in 7,377,912 shares being issued, with an additional 7,220,141 shares expected to be issuable in a subsequent closing in April 2025. This prospectus also addresses anti-dilution adjustments for future stock splits, dividends, or similar events. The selling stockholders may determine the sale timing and pricing based on market conditions, while Odyssey will not receive proceeds from these shares except for proceeds from warrant exercises. The document underscores the risks involved in investing, noting financial performance, including losses and the need for additional capital, as critical factors for investor consideration. The company's stock trades under the symbol OMEX on the Nasdaq Capital Market.

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Form Type: CORRESP

Filing Date: 2025-02-05

Corporate Action: Ipo

Type: New

Accession Number: 000119312525020621

Filing Summary: Odyssey Marine Exploration, Inc. has submitted a request for acceleration of the effectiveness of their Registration Statement on Form S-1, SEC Registration No. 333-284491. The Company requests that the Registration Statement become effective at 4:30 p.m. Eastern Time on February 7, 2025, or as soon as practicable thereafter. The Company acknowledges that the effectiveness of the filing does not prevent the Commission from taking any action regarding the filing, that the Company remains fully responsible for the adequacy and accuracy of the disclosure within the filing, and that it cannot use the effectiveness as a defense in any proceedings initiated by the Commission or others under federal securities laws. The Company has requested confirmation of the date and time of effectiveness from their counsel.

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Form Type: S-1

Filing Date: 2025-01-24

Corporate Action: Ipo

Type: New

Accession Number: 000119312525012274

Filing Summary: Odyssey Marine Exploration, Inc. filed a Form S-1 registration statement on January 24, 2025, with the SEC to register an aggregate of up to 40,924,202 shares of its common stock, primarily offered by selling stockholders. These shares consist of those issuable pursuant to a securities purchase agreement, exercise of warrants, and consulting agreements. Notably, 7,377,912 shares were issued in a private placement in December 2024, while up to 7,220,141 shares are expected to be issued in a closing scheduled for April 2025. The document indicates that Odyssey is classified as a smaller reporting company and regards environmental responsibility as a crucial aspect of its operations. For the fiscal year ended December 31, 2023, the company reported a revenue of $804,000 against a loss from operations of $10.3 million. It emphasizes risks associated with its financial management, including material weaknesses in internal controls. The common stock will be traded on the Nasdaq Capital Market under the symbol 'OMEX', with a closing price of $0.6399 per share on January 23, 2025. The filing reflects ongoing efforts to enhance investor confidence and comply with SEC requirements.

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