OPT Extends Its Section 382 Tax Benefits Preservation Plan
Ocean Power Technologies' Board unanimously approved the amendment and restatement of its Section 382 Tax Benefits Preservation Plan, extending the expiration date from June 29, 2026 to June 29, 2029. The plan is designed to protect the value of federal net operating loss carryforwards by deterring any single investor or group from acquiring beneficial ownership of 4.99% or more of the company's common stock.
Key figures
- Plan expiry date
- June 29, 2029
- Ownership threshold percent
- 4.99
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