Odyssey Marine Exploration Terminates Purchase Agreement with Ocean Minerals, LLC

Odyssey Marine Exploration, Inc. disclosed in an 8-K filing with the Securities and Exchange Commission that the company, along with its subsidiary Odyssey Minerals Cayman Limited and Ocean Minerals, LLC (OML), has terminated a Unit Purchase Agreement. This agreement, dated June 4, 2023, was officially terminated on October 18, 2024, by mutual agreement among the parties involved.

The Purchase Agreement, initially detailed in Odyssey’s previous Current Report on Form 8-K filed on June 5, 2023, involved Odyssey owning 293,399 membership interest units of OML as part of the transaction. The termination of the Purchase Agreement allows the entities to explore new avenues for investment by Odyssey in OML, necessitating a fresh structure for further collaboration.

In a bid to reevaluate their investment relationship, the parties decided to mutually end the Purchase Agreement, creating a space for potential future negotiations. The termination marks a strategic move aimed at potentially reshaping the dynamics of the investment and business dealings between Odyssey Marine Exploration and Ocean Minerals, LLC.

At this juncture, there were no appended financial statements, pro forma financial information, shell company transactions, or any exhibits accompanying the 8-K filing.

Mark D. Gordon, the Chairman and Chief Executive Officer of Odyssey Marine Exploration, signed the disclosure on behalf of the company on October 22, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Odyssey Marine Exploration’s 8K filing here.

Odyssey Marine Exploration Company Profile

Odyssey Marine Exploration, Inc, together with its subsidiaries, discovers, validates, and develops seafloor mineral resources worldwide. The company provides specialized mineral exploration, project development, and marine services to clients. Odyssey Marine Exploration, Inc was founded in 1994 and is headquartered in Tampa, Florida.