# Ocean Power Technologies, Inc. (OPTT) — strategic_review/formal_alternatives [announced]
Source: sec.gov · situation sit_219b0e8462d00068cb63 · public 4390795417013577754 · retrieved 2026-08-20T18:11:24.074Z

## Overview
Ocean Power Technologies provides intelligent maritime solutions and services including PowerBuoy platforms for clean electric power and data communications, WAM-V unmanned surface vessels, and Merrows maritime domain awareness systems for defense, security, oil and gas, science and research, and offshore wind markets.

Ocean Power Technologies, Inc. announced on August 17, 2026 that its Board of Directors has initiated a review of strategic alternatives with the goal of maximizing stockholder value. The company has retained Bowen, Inc., an investment banking advisory firm, to advise on the process. The Board intends to consider a full range of potential alternatives that could accelerate OPT's growth, expand market access, and strengthen its financial position. The company has not set a timetable for completion and does not intend to disclose developments unless the Board approves a definitive course of action or the process concludes.

## Terms
- Counterparty: Bowen, Inc.

## Key dates
- Announced 2026-08-17

## Timeline
- 2026-08-17 · 8-K (0001493152-26-038739): 8-K - Ocean Power Technologies, Inc. — *Ocean Power Technologies provides intelligent maritime solutions and services including PowerBuoy platforms for clean electric power and data communications, WAM-V unmanned surface vessels, and Merrows maritime domain awareness systems for defense, security, oil and gas, science and research, and offshore wind markets.* Ocean Power Technologies, Inc. announced on August 17, 2026 that its Board of Directors has initiated a review of strategic alternatives with the goal of maximizing stockholder value. The company has retained Bowen, Inc., an investment banking advisory firm, to advise on the process. The Board intends to consider a full range of potential alternatives that could accelerate OPT's growth, expand market access, and strengthen its financial position. The company has not set a timetable for completion and does not intend to disclose developments unless the Board approves a definitive course of action or the process concludes.
  https://www.sec.gov/Archives/edgar/data/1378140/0001493152-26-038739.txt

## Citations
- 0001493152-26-038739 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000149315226038739