Paragon calls on ocean power to cease any and all future equity raises that dilute existing stockholders to fund opt's losses and executive compensation

Paragon commits up to $3 million in non-dilutive preferred equity of opt to save the company from insolvency and future shareholder losses. easton, pa / accesswire / april 22, 2024 / paragon technologies, inc. ("paragon"), a diversified holding company and the largest shareholder of ocean power technologies, inc. (nyse american:optt), ("company" or "opt"), calls on opt to immediately cease any future dilutive equity issuance and instead engage with paragon to save opt shareholders from a total loss and the company from permanent financial ruin.
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