Ocean Power Technologies is trading at $0.39, down 6.41% in after-hours trading following news of an offering of up to 9,375,000 shares and warrants priced at $0.64 per unit, below the prior close.
- The potential for dilution likely weighed on shares.
- The offering was also associated with a 38.44% regular-session decline on October 29; broader technology weakness was secondary context.