Paragon technologies recommends ocean power shareholders vote against the company's plan to increase its authorized shares and hold the board accountable for its wasteful spending that leads to increasing losses

Easton, pa / accesswire / july 26, 2024 / paragon technologies, inc. ("paragon"), a diversified holding company and a large shareholder of ocean power technologies, inc. (nyse american:optt), ("company" or "opt"), issues the following statement to opt shareholders: on july 5, opt filed a proxy statement calling for a special meeting of shareholders on august 30, 2024, asking shareholders to approve increasing the company's authorized shares to 200 million, up from 100 million. on july 25, 2025, opt announced fiscal 2024 financial results revealing that it lost $27.4 million in fiscal 2024 versus $26.3 million in fiscal 2023.
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