Paragon Technologies Reminds Ocean Power Technologies Shareholders to Vote the BLUE Proxy Card for Paragon’s Nominees - Seite 2

The facts are clear: OPT's Board actions and decisions are not focused on preserving shareholder value. OPT's stock price has perpetually declined for years. More importantly, the stock market values OPT below net cash because the market perceives NO value in the company's current business operations.

Paragon has the track record OPT shareholders can evaluate. We took a small company and delivered a greater than 800% return for shareholders in five years supported by growing revenues and profitability. We have skin the game at OPT. The current Board does not. We believe every single shareholder of OPT has losses associated with their holdings of OPT stock. Shareholder losses will likely continue under this self-serving Board.

Please email us at [e-mail] with any questions about how to vote your BLUE proxy card.

We appreciate the support from shareholders thus far. If shareholders have any questions, please contact our Proxy Solicitor, Alliance Advisors at:

Alliance Advisors
200 Broadacres Drive, 3rd Floor
Bloomfield, NJ 07003
Toll-Free Phone: [phone]
Email: [e-mail]

Please email us at [e-mail] if you would like to learn more.

Paragon Technologies, Inc., together with the other participants named herein, intends to make a filing with the Securities and Exchange Commission (the "SEC") of a proxy statement and an accompanying proxy card to be used to solicit votes for the election of director nominees at the 2023 annual meeting of shareholders of Ocean Power Technologies, Inc., a Delaware corporation (the "company").

Paragon Technologies, Inc. is the beneficial owner of 2,927,779 shares of common stock of the company, par value $0.001 per share ("common stock").

Paragon Technologies, Inc., and Paragon's director nominees Hesham M. Gad, Shawn M. Harpen, Jack H. Jacobs, and Samuel S. Weiser, will be the participants in the proxy solicitation. Mr. Gad, Executive Chairman of Paragon's Board of Directors and Chief Executive Officer of Paragon, and Messrs. Jacobs and Weiser, directors of Paragon, may be deemed to beneficially own the shares of the company's common stock held by Paragon. Ms. Harpen does not own beneficially or of record any securities of the company. Updated information regarding the participants and their direct and indirect interests in the solicitation, by security holdings or otherwise, will be included in Paragon's proxy statement and other materials filed with the SEC.

SHAREHOLDERS OF THE COMPANY SHOULD READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS CAREFULLY AND IN THEIR ENTIRETY AS THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION RELATING TO THE COMPANY'S ANNUAL MEETING, PARAGON'S SOLICITATION OF PROXIES AND PARAGON'S NOMINEES TO THE BOARD. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT WWW.SEC.GOV OR FROM PARAGON TECHNOLOGIES, INC. REQUESTS FOR COPIES, WHEN AVAILABLE, SHOULD BE DIRECTED TO PARAGON'S PROXY SOLICITOR.

SOURCE: Paragon Technologies Inc.

View the original press release on accesswire.com


The Paragon Technologies Stock at the time of publication of the news with a raise of 0,00 % to 9,00USD on Nasdaq OTC stock exchange (06. Dezember 2023, 15:30 Uhr).