Odyssey Marine Exploration Welcomes New Executive Order for Deep Sea Mining
Odyssey Marine Exploration, Inc. is pleased to see the issuance of a new Executive Order titled Unleashing America’s Offshore Critical Minerals and Resources. In addition, the company confirms that it currently has no specific plans to issue any securities under its universal shelf registration statement on Form S-3, which has been declared effective by the Securities and Exchange Commission (SEC) and provides Odyssey with the flexibility to access the capital markets in a timely manner.
The specifics of any future offering, along with the prices and terms of any such securities offered by Odyssey, will be determined at the time of any such offering and will be described in detail in a prospectus supplement filed in connection with such offering. As previously announced, Odyssey currently anticipates that the proceeds from the Securities Purchase Agreement (SPA) executed by the company in December 2024, together with other prior funding arrangements, will continue to fund the company’s operations during 2025.
The Executive Order prioritizes the rapid development of U.S. capabilities for the exploration, collection, and processing of seabed-derived critical minerals—essential to securing defense, clean energy, and advanced manufacturing inputs. With decades of proven leadership in ocean exploration and project development, Odyssey aligns with these national priorities through its active projects targeting battery metals (polymetallic nodules) and fertilizer-grade phosphates.
Odyssey’s capabilities that align with the Executive Order:
- Track Record in Deep-Sea Exploration
- Government and Industry Partnerships
- Project Pipeline Across Strategic Jurisdictions
- Proprietary Research
- Expertise in Regulatory Navigation and Permitting
On April 25, 2025, Odyssey took important steps to ensure the company’s flexibility to appropriately use its common stock to raise funds for business and financial purposes in the future and to comply with the Nasdaq Listing Rules:
- Universal Shelf Registration
- Reverse Stock Split
- Authorized Share Increase
Odyssey’s current operational funding and the flexibility provided by the shelf registration ensure that Odyssey is well prepared for the opportunities that may result from the Executive Order.