Odyssey Marine confirms sufficient operational funding, welcomes executive order

Odyssey Marine (OMEX) said it is pleased to see the issuance of a new executive order titled Unleashing America’s Offshore Critical Minerals and Resources. In addition, the company confirms that it currently has no specific plans to issue any securities under its universal shelf registration statement on Form S-3, which has been declared effective by the SEC and provides Odyssey with the flexibility to access the capital markets in a timely manner. The specifics of any future offering, along with the prices and terms of any such securities offered by Odyssey, will be determined at the time of any such offering and will be described in detail in a prospectus supplement filed in connection with such offering. As previously announced, Odyssey currently anticipates that the proceeds from the securities purchase agreement executed by the company in December 2024, together with other prior funding arrangements, will continue to fund the company’s operations during 2025.