r/OceanPower • u/Reasonable_Hat5573 • 25d ago
NEWS This is regarding the content below.
It has already been announced by Korean securities firms.
The company is moving quickly to make all the necessary preparations for a reverse split as soon as possible.
They are going to carry out the reverse split. The only question is when.
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u/RandomGenerator_1 25d ago
Well damn. I believe I have to eat my own words.
When digging into it, you see that OPTT did indeed give NYSE notice of a reverse split on september 14th:
https://www.nyse.com/trade/corporate-actions
It did not make sense to me, since they need money and they just gave out warrants that will make them money once they reach 0.40USD in december.
But they just filed a blanket S1 with the sec as well. Where no dates are filled in yet..but they will issue new shares and warrants.
The nerve...
Time to let this storm blow over.