ODYSSEY MARINE EXPLORATION, INC. (NASDAQ:OMEX) FILES AN 8-K OTHER EVENTS
Effective as of April 10, 2017, Odyssey Marine Exploration, Inc. (“Odyssey”) issued 670,455 unregistered shares of common stock to Epsilon Acquisitions LLC (“Epsilon”) upon conversion of indebtedness evidenced by the Convertible Promissory Note that Odyssey Marine Enterprises, Ltd. (“OME”), a subsidiary of Odyssey, issued to Epsilon on March, 18 2016. The amount of indebtedness converted was $3,050,000, plus interest, and the conversion rate was $5.00 per share of common stock. As previously disclosed in the Current Report on Form 8-K that Odyssey filed with the Securities and Exchange Commission on January 26, 2017, conversion of the indebtedness required 75 days’ notice from Epsilon, and Epsilon delivered its conversion notice on January 25, 2017.
Epsilon is an affiliate of Minera del Norte S.A. de c.v. (“MINOSA”) with which we have an investment agreement for the potential purchase of new equity securities that would represent a majority of the equity in Odyssey. The conversion of indebtedness by Epsilon makes Epsilon one of the largest Odyssey stockholders and further aligns the interests of Odyssey and MINOSA
About ODYSSEY MARINE EXPLORATION, INC. (NASDAQ:OMEX)
Odyssey Marine Exploration, Inc. (Odyssey) is a deep-ocean exploration company. The Company’s techniques are applied to mineral exploration, shipwreck cargo recovery, and other marine survey and exploration charter services. The Company is engaged in discovering shipwreck sites in the deep ocean and conducting archaeological excavations with remotely operated vehicles (ROVs). Its shipwreck discoveries include the SS Republic, HMS Victory, Black Swan, La Marquise de Tourny and other unidentified shipwrecks. The Company offers exploration services, including geophysical and geotechnical assessments of seabed mineral deposits to companies, including its subsidiaries and companies, in which it holds an equity position, as a resource development partner. The Company evaluates or explores various types of seabed mineral deposits, such as phosphorites, polymetallic nodules and seafloor massive sulfides. Odyssey offers its marine exploration services to third-party companies.
ODYSSEY MARINE EXPLORATION, INC. (NASDAQ:OMEX) Recent Trading Information
ODYSSEY MARINE EXPLORATION, INC. (NASDAQ:OMEX) closed its last trading session 00.00 at 3.84 with 27,863 shares trading hands.