Odyssey Marine Exploration, Inc. announced it has secured additional funding totaling over $8 million since April 2025, ensuring its operations are fully funded through at least the remainder of 2025. This capital was raised through investors exercising rights to purchase approximately 6.9 million shares of common stock for about $7.6 million and exercising warrants for 460,000 shares for $506,000. This continued support from strategic investors, including Capital Latinoamericano and Two Seas Capital, strengthens the company's financial foundation.
In a move to reduce debt and align long-term interests, holders of the company’s convertible notes converted approximately $2.5 million of note balances into approximately 2.35 million shares of common stock. This conversion represents over 10% of the company's outstanding convertible notes. The reduction in debt enhances Odyssey's balance sheet and provides greater financial flexibility.
The company views this new capital and debt conversion as crucial for executing its strategic initiatives and pursuing new growth opportunities. This financial strengthening comes amid growing momentum in United States offshore critical mineral development, supported by a recent Executive Order.
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