Cash Position
The company is cashflow positive based on quarterly cash flow of 602.33 k
Commentary on Financial Condition
The company is facing significant financial challenges, with a working capital deficit of $16.7 million and a consolidated non-restricted cash balance of $4.8 million as of December 31, 2024. The company's ability to continue as a going concern is in doubt, as it relies on generating new cash inflows through monetization of equity stakes, financings, and partnerships. Recent financing activities include a Securities Purchase Agreement that raised $4.1 million, expected to fund operations into the second quarter of 2025, with an option for additional funding that could extend operations through the fourth quarter of 2025. The company has also restructured its debt obligations, extending maturity dates and adding conversion features to defer material cash needs., Filed At: 2025-03-31
Former Symbols
Nasdaq Compliance
Date
Deficiency
Market
Status
Notes
Nov 4, 2024
Bid Price
NCM
OPEN
Odyssey Marine Exploration, Inc. has been notified by Nasdaq that it does not meet the $1.00 minimum bid price requirement, with a compliance deadline of May 5, 2025. The company has until this date to regain compliance with the bid price rule as per the notification received on November 5, 2024. Filed At: 2025-04-08.
Oct 30, 2024
Market Value of Listed Securities
NCM
RESOLVED
Odyssey Marine Exploration, Inc. has been notified by Nasdaq that it now complies with the listing requirements regarding the market value of listed securities as of April 8, 2025, following a previous notification of non-compliance on October 30, 2024. The company had until April 28, 2025, to regain compliance with the $35 million market value requirement. Filed At: 2025-04-08.
Previous Splits
Date
Split
2/22/2016
12 to 1
Pending Offering
Title | Details | Offering Amt | Shr Amt | Share Price | Warrants | Bank | Date | Type | |
|---|---|---|---|---|---|---|---|---|---|
April 2025 SHELF | - | $50.00 M | - | - | - | - | Apr 1, 2025 | S-3 |
Shelf
Title | Raisable Amt | Offering Amt | Amt Sold Last 12 Mos | Float | 60 Day High | Price to Exceed Baby Shelf | Float Value | Exp Date | Effective date | |
|---|---|---|---|---|---|---|---|---|---|---|
EXPIRED-December 2021 SHELF | Offering amount: $100,000,000.00 | Float: 13,600,000 | $14,143,667.00 | $100.00 M | 0 | 28.10 M | 1.51 | 2.67 | 42.43 M | 12/27/2024 | 12/27/2021 |
Warrants
Title | Registered | Remaining Warrants | Ex Price | Cost Basis | Total Warrants | Owners | Bank | Price Protection | Details | Exercisable Date | Expiration Date | Filed Date | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
December 2023 - Warrants | Registered | 1,411,765 | $1.23 | - | 1,411,765 | CEO, FW Deep Value, Greywolf, Ken Fried, Lord Baltimore, Two Seas, VLTCM | Customary Anti-Dilution | lowered to $1.23 on 12/23/24 | - | - | Dec 1, 2023 | ||
March 2023 - Warrants | Registered | 3,703,704 | $1.10 | - | 3,703,704 | CEO, FW Deep Value, Greywolf, Ken Fried, Lord Baltimore, Two Seas, VLTCM | N/A | lowered to $1.10 on 12/23/24 | - | - | Mar 6, 2023 | ||
June 2022 - Warrants | Registered | 4,809,448 | $3.35 | - | 4,900,000 | FourWorld Capital | Customary Anti-Dilution | - | - | Jun 9, 2022 | |||
August 2020 - Warrants | Registered | 2,553,314 | $4.54 | - | 2,553,314 | FourWorld Capital | No | - | - | Aug 25, 2020 | |||
August 2020 - Warrants | Registered | 2,553,314 | $4.54 | - | 2,553,314 | FourWorld Capital | Customary Anti-Dilution | - | - | Aug 25, 2020 | |||
July 2019 - Warrants | Not Registered | 193,135 | $5.75 | - | 196,135 | N/A | Full Ratchet | - | - | Jul 12, 2019 | |||
October 2018 - Warrants | Registered | 700,000 | $7.15 | - | 700,000 | N/A | Customary Anti-Dilution | - | - | Oct 31, 2018 |
Convertibles
Title | Registered | Shares Remaining | Cv Price | $ Amt Remaining | Total $ Amt | Owners | Bank | Price Protection | Details | Convertible Date | Maturity Date | Filed Date | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
March 2023 Convertible Notes | Registered | 12,727,273 | $1.10 | $14,000,000.00 | $14,000,000.00 | 37North Capital Management, LLC, 37North SPV Capital 11, LLC, Capital Latinoamericano, S.A. de C.V., CEOF Holdings LP, Craig Bryson, DP Special Opportunities Fund I, LLC, Drakes Landing Associates LP, Kenneth Brian Fried, FW Deep Value Opportunities Fund I, LLC, Greywolf Opportunities Master Fund II LP, Mark B. Justh, James Christian Little, Lord Baltimore Associate Investments, LLC, Lord Baltimore Equity Partners VIII, LLC, Carlos Gabriel Orozco Alatorre, Mark Purdy, Rangeley Capital Partners, LP, Rangeley Capital Partners II, LP, Rangeley Capital Special Opportunities Fund LP, SEG Opportunity Fund, LLC, Two Seas Capital LP, VLTCM Ltd. | Variable Rate | Holders can convert the AR March 2023 Notes into shares of the Company’s common stock at a conversion rate of 75% of the 30-day volume weighted average price, with the rate not falling below $1.10 or exceeding $2.20. | - | Dec 31, 2025 | Mar 6, 2023 |
Completed Offerings
Title | Offering Amt | Shr Amt | Share Price | Warrants | Bank | Owners | Date | Type | |
|---|---|---|---|---|---|---|---|---|---|
PRIVATE PLACEMENT | $4.10 M | 7.38 M | $0.55 | - | - | CEO, FW Deep Value, Greywolf, Ken Fried, Lord Baltimore, Two Seas, VLTCM | Dec 23, 2024 | 8-K | |
DEBT OFFERING | $14.00 M | - | - | 3.70 M | - | CEO, FW Deep Value, Greywolf, Ken Fried, Lord Baltimore, Two Seas, VLTCM | Mar 6, 2023 | 8-K | |
REGISTERED OFFERING (RDO) | $16.41 M | 4.90 M | $3.35 | 4.90 M | EF Hutton | - | Jun 8, 2022 | 8-K | |
REGISTERED OFFERING (RDO) | $6.50 M | 984.85 k | $6.60 | - | - | - | Oct 5, 2021 | 8-K | |
REGISTERED OFFERING (RDO) | $11.60 M | 2.55 M | $4.54 | 1.90 M | None | FourWorld Capital | Aug 25, 2020 | 8-K | |
REGISTERED OFFERING (RDO) | $5.01 M | 700.00 k | $7.16 | 700.00 k | Chardan | - | Nov 1, 2018 | 8-K |