<div><div></div><div>Odyssey Marine Exploration signed a definitive merger agreement to combine with American Ocean Minerals in a stock-for-stock deal, after which the company will be renamed American Ocean Minerals. The transaction includes a $156 million PIPE, approximately $75.6 million in prior bridge debentures that convert pre-close, and multiple post-close equity and option arrangements involving CIC and Ocean Minerals. Odyssey also arranged up to $10 million of 8% secured pre-closing notes from AOM and plans to place its ORM assets into a liquidating trust for pre-close shareholders. Closing is targeted for late Q2 to early Q3 2026, subject to customary approvals, registration effectiveness, financing, and minimum cash conditions.Agreement 1: Odyssey Marine to Merge With American Ocean Minerals; Pro Forma Rename to American Ocean Minerals<ul><li>Agreement type: Agreement and Plan of Merger</li><li>Counterparty: American Ocean Minerals</li><li>Signed / Effective: Apr 08 2026 / same</li><li>Duration / Termination: N/A</li><li>Reason: Create a combined deep-sea minerals company with enhanced capital</li></ul>Agreement 2: Odyssey Marine Secures Up to $10 Million Pre-Closing Secured Notes From AOM at 8%<ul><li>Agreement type: Secured note purchase agreement (up to $10 million at 8%)</li><li>Counterparty: American Ocean Minerals</li><li>Signed / Effective: Apr 08 2026 / same</li><li>Duration / Termination: Up to 1 year or until merger close</li><li>Reason: Provide interim liquidity ahead of merger closing</li></ul>Agreement 3: AOM Raises About $75.6 Million in Bridge Debentures to Convert Pre-Close<ul><li>Agreement type: Convertible bridge debentures financing</li><li>Counterparty: AOM Bridge Investors</li><li>Signed / Effective: Apr 08 2026 / same</li><li>Duration / Termination: Until automatic conversion pre-close</li><li>Reason: Fund pre-close operations and align investors as shareholders</li></ul>Agreement 4: AOM Secures $156 Million PIPE; Warrants to Be Assumed by Odyssey at Closing<ul><li>Agreement type: $156 million PIPE equity and warrants</li><li>Counterparty: AOM PIPE Investors</li><li>Signed / Effective: Apr 08 2026 / same</li><li>Duration / Termination: N/A</li><li>Reason: Provide capital and meet closing cash condition</li></ul>Agreement 5: Odyssey Marine Sets Equity Exchange With CIC Shareholders, Capped at 19.9% Absent Approval<ul><li>Agreement type: Equity exchange agreement</li><li>Counterparty: CIC Stockholders</li><li>Signed / Effective: Apr 08 2026 / Post-merger effectiveness</li><li>Duration / Termination: N/A</li><li>Reason: Expand exposure to CIC via stock-for-stock exchange</li></ul>Agreement 6: Odyssey Marine Obtains Option to Acquire CIC Shares From CIC Option Holders at Tiered Valuation<ul><li>Agreement type: Option to purchase CIC shares</li><li>Counterparty: CIC Option Stockholders</li><li>Signed / Effective: Apr 08 2026 / 6 months post-merger (earliest exercise)</li><li>Duration / Termination: At will</li><li>Reason: Enable future consolidation of CIC ownership</li></ul>Agreement 7: Odyssey Marine Secures Parallel Option to Buy CIC Shares From CIC LLC With $20M Cash Minimum<ul><li>Agreement type: Option to purchase CIC shares from CIC LLC</li><li>Counterparty: CIC LLC</li><li>Signed / Effective: Apr 08 2026 / 6 months post-merger (earliest exercise)</li><li>Duration / Termination: At will</li><li>Reason: Secure pathway to increase CIC stake with structured pricing</li></ul>Agreement 8: AOM to Buy 997,995 Units of Ocean Minerals for $20 Million; May Increase to 67% Stake<ul><li>Agreement type: Unit purchase agreement for Ocean Minerals equity</li><li>Counterparty: Ocean Minerals</li><li>Signed / Effective: Mar 20 2026 / same</li><li>Duration / Termination: At will (for additional purchases)</li><li>Reason: Build controlling position in Ocean Minerals</li></ul>Agreement 9: Odyssey Marine Arranges Post-Close Equity Exchange With Ocean Minerals Members<ul><li>Agreement type: Equity exchange agreement</li><li>Counterparty: Ocean Minerals and OML Members</li><li>Signed / Effective: Apr 08 2026 / Post-merger effectiveness</li><li>Duration / Termination: N/A</li><li>Reason: Align ownership structure following merger</li></ul>Agreement 10: AOM Purchases $5 Million 8% Convertible Note From CIC LLC, Maturing in 2030<ul><li>Agreement type: Convertible promissory note (8% to 2030)</li><li>Counterparty: CIC LLC</li><li>Signed / Effective: Apr 08 2026 / same</li><li>Duration / Termination: Matures Apr 07 2030</li><li>Reason: Strategically position for CIC equity via note conversion</li></ul>Agreement 11: AOM Arranges Up to $20 Million 8% Convertible Note With CIC Ltd, Due 2030<ul><li>Agreement type: Convertible promissory note facility (up to $20 million, 8% to 2030)</li><li>Counterparty: CIC Ltd</li><li>Signed / Effective: Apr 08 2026 / same</li><li>Duration / Termination: Matures Apr 07 2030</li><li>Reason: Provide flexible funding and potential equity in CIC Ltd</li></ul>Agreement 12: Odyssey Marine Secures Voting Support From Key Holders for Merger and Share Actions<ul><li>Agreement type: Stockholder support and voting agreement</li><li>Counterparty: Certain Odyssey Stockholders</li><li>Signed / Effective: Apr 08 2026 / same</li><li>Duration / Termination: Until stockholder meeting actions completed</li><li>Reason: Secure approvals necessary to close the merger</li></ul>Agreement 13: AOM Holders and Bridge Investors Enter Lock-Up; 60–90 Day Restrictions Post-Close<ul><li>Agreement type: Lock-up agreements for post-close share transfers</li><li>Counterparty: AOM Holders and Bridge Investors</li><li>Signed / Effective: Apr 08 2026 / At merger closing</li><li>Duration / Termination: 60–90 days with staged releases</li><li>Reason: Promote post-merger market stability</li></ul>Agreement 14: Odyssey Plans ORM Asset Disposition Into Liquidating Trust for Pre-Close Shareholders<ul><li>Agreement type: Asset disposition and liquidating trust structure for ORM</li><li>Counterparty: ORM HoldCo and ORM Trust</li><li>Signed / Effective: Apr 08 2026 / Prior to merger closing</li><li>Duration / Termination: N/A</li><li>Reason: Preserve and realize value of ORM for existing shareholders</li></ul>Original SEC Filing: ODYSSEY MARINE EXPLORATION INC [ OMEX ] - 8-K - Apr. 08, 2026<section>Disclaimer<div>This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.</div></section></div></div>

OMEX

PICK

Odyssey Marine Exploration has signed a definitive merger agreement with American Ocean Minerals, which will involve a stock-for-stock deal and a name change to American Ocean Minerals. The transaction includes a $156 million PIPE and arrangements for bridge debentures and secured notes. The merger aims to create a combined deep-sea minerals company and is expected to close between late Q2 and early Q3 2026, pending approvals and financing conditions. Additionally, Odyssey plans to place its ORM assets into a liquidating trust for pre-close shareholders.

Odyssey Marine to Merge With American Ocean Minerals; Raises $156M PIPE, Sets Asset Spinoff