Ocean Power announces stock offering, shares -5.5% AH

• Ocean Power Technologies (NYSE:OPTT) -5.5% AH after announcing a proposed public offering of common stock; the company does not give an amount.
• OPTT plans to use proceeds to acquire or invest in complementary products or toward any combination of working capital, capital expenditures, and general business purposes, including additional development, testing and demonstrations of its PowerBuoy systems.