US-based marine energy company Ocean Power Technologies (OPT) is set to change its listing from the Nasdaq Capital Market to the NYSE American stock exchange.
The last day of trading on the Nasdaq Capital Market is expected to be 17 June, while OPT expects to commence trading as an NYSE American-listed company when markets open the day after.
The company’s common stock will continue to trade under its existing “OPTT” symbol.
“We are pleased to announce our transfer to the NYSE American, where we’ll be listed alongside what we consider to be many of the world’s most forward-thinking companies,” said George H. Kirby , president and chief executive officer of OPT.
“As OPT’s portfolio of innovative solutions continues to grow, we want to enhance the visibility of the Company and continue to expand our investor base moving forward in 2021 and beyond. We believe that operating as an NYSE American-listed company will help us achieve these goals.”
To remind, at the beginning of the year, Ocean Power Technologies acquired offshore energy engineering and design services company 3Dent Technology.
The company recently received $1 million of non-dilutive funding through the New Jersey Technology Business Tax Certificate Transfer Program.