Odyssey Marine Exploration Stock Gains After Investor Group Buys More Shares

Akanksha

Wed, Sep 1, 2021, 4:07 PM1 min read

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An investor group led by asset recovery funder Drumcliffe LLC has purchased 1.13 million shares in Odyssey Marine Exploration Inc (NASDAQ: OMEX) from Epsilon Acquisitions LLC through a private transaction. The purchase price was not disclosed.
Odyssey will not receive any proceeds from this transaction.
The investor group included FourWorld Capital Management and Greywolf Capital Management LP.
Odyssey is currently pursuing a nearly $3 billion NAFTA arbitration claim against the Republic of Mexico. The claim relates to Mexico's denial of an off-shore dredging license previously granted to an Odyssey subsidiary for one of the largest untapped phosphate deposits in the world.
Drumcliffe has been providing financing to Odyssey to support its arbitration efforts since 2019.
Price Action: OMEX shares closed higher by 14.77% at $6.37 on Wednesday.

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