Odyssey Marine Exploration (OMEX) nets $8.75M on a $10M early exercise of an option held by Mako...

|About: Odyssey Marine Explorat... (OMEX)|By:, SA News Editor

Odyssey Marine Exploration (OMEX) nets $8.75M on a $10M early exercise of an option held by Mako Resources to purchase 8M shares of Oceanica Resources, S. de R.L., owned by Odyssey. The exercise price of $1.25/share, discounted from an original $2.50 in order to facilitate this transaction, represents a 25% increase over the price Mako paid for the 15M shares of Oceanica it bought in February. Mako still holds an option to buy another 7M shares of Oceanica at $2.50 before Dec. 31. (PR)