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Ocean Power Technologies registers $15M worth of common stock

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Ocean Power Technologies registers $15M worth of common stock

Ocean Power Technologies Inc. on March 11 filed a registration statement on Form S-1 for the potential sale of up to $15 million of common stock.

The company plans to use net proceeds from the sale of any securities for building its ocean wave power conversion technology PowerBuoy to meet potential market demand, advancing the development of new products, enabling sales and marketing, and for other general corporate purposes.