SCHEDULE 13G/A: Two Seas Capital Reports 9.99% Passive Stake in Odyssey Marine Exploration
Beneficial Ownership Report (Amendment)
Two Seas Capital LP, along with its general partner and chief investment officer, has filed an amended Schedule 13G, disclosing a passive beneficial ownership of 9.99% in Odyssey Marine Exploration Inc. as of December 31, 2024.
Summary
- Two Seas Capital LP, Two Seas Capital GP LLC, and Sina Toussi (collectively, the "Reporting Persons") have filed an Amendment No. 6 to Schedule 13G regarding their beneficial ownership in Odyssey Marine Exploration Inc.
- As of December 31, 2024, the Reporting Persons collectively beneficially own 2,947,747 shares of Odyssey Marine Exploration Inc. Common Stock.
- This ownership represents 9.99% of the company's outstanding Common Stock.
- The shares are held by Two Seas Litigation Opportunities Fund LLC and Two Seas Global (Master) Fund LP, for which Two Seas Capital LP serves as investment manager.
- The total beneficial ownership includes 398,698 shares obtainable within 60 days through the exercise of warrants, and 2,549,049 shares held directly by the Global Fund.
- An additional 1,317,686 shares from warrants are not currently exercisable due to beneficial ownership limitations.
- The percentage of class is calculated based on 21,730,370 shares outstanding on November 11, 2024, plus 7,377,912 shares issued on December 23, 2024, and the shares issuable from exercisable warrants.
- The Reporting Persons affirm that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, indicating a neutral sentiment as it does not contain operational or financial performance updates, nor does it signal activist intent.
Future Outlook
This Schedule 13G filing is a disclosure of passive beneficial ownership and does not contain any forward-looking statements or guidance regarding the issuer's future operations or financial performance.
Industry Context
This filing is a standard disclosure of a significant passive ownership stake by an investment firm in a publicly traded company. It does not provide specific insights into broader industry trends or competitive dynamics beyond the ownership structure of Odyssey Marine Exploration Inc.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant passive ownership stake by an institutional investor, which can be a signal of confidence or interest in the company.
Key Dates
| Date | Description |
|---|---|
| 2024-11-11 | Date on which 21,730,370 shares of Odyssey Marine Exploration Inc. were outstanding, as disclosed in the Issuer's Form 10-Q. |
| 2024-11-13 | Date the Issuer's Form 10-Q was filed with the SEC. |
| 2024-12-23 | Date on which 7,377,912 shares were issued by Odyssey Marine Exploration Inc., as disclosed in the Issuer's Form 8-K. |
| 2024-12-31 | Date of event which requires the filing of this statement (beneficial ownership snapshot date). |
| 2025-02-14 | Date the Schedule 13G Amendment No. 6 was signed. |
Keywords
Odyssey Marine Exploration Inc., Two Seas Capital LP, Two Seas Capital GP LLC, Sina Toussi, Schedule 13G, Beneficial Ownership, Common Stock, Investment Adviser, Passive Investment, SEC Filing
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