Paragon technologies issues statement to the stockholders of ocean power technologies. reminds stockholders to vote only the blue proxy card

Expresses serious concerns about opt's alarming financial and stock price underperformance under the current board and ceo. believes that the board and ceo are misleading shareholders by making positive statements about the future of ocean power while the company appears likely to run out of capital in 2024 believes ocean power could be worth +$3 a share, or 10x return with an improved operating cost structure, disciplined capital allocation, and focus on marine advance robotics expresses grave concerns that the board's actions to insulate their board seats and deny shareholders the right to vote for outside qualified directors has cost ocean power millions of dollars and puts opt at risk in 2024 easton, pa / accesswire / december 21, 2023 / paragon technologies, inc. ("paragon"), a diversified holding company owning approximately 4.9% of the outstanding shares of ocean power technologies, inc. (nyse american:optt), ("company") ("opt"), issued the following statement to the stockholders of ocean power technologies: dear ocean power technologies stockholder: we are writing to our fellow stockholders today because we believe that opt's board of directors (the "board") is not acting with the sort of urgency required to address the company's dire situation.
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