Odyssey Marine Exploration, Inc. (NASDAQ: OMEX) announced that the U.S. Securities and Exchange Commission (SEC) has declared effective its registration statement on Form S-4 regarding a proposed merger with American Ocean Minerals Corporation (AOMC). The merger, originally agreed upon on April 8, 2026, involves Odyssey’s subsidiary merging into AOMC, with AOMC surviving as a wholly owned subsidiary of Odyssey.
The company stated that the SEC’s approval marks a significant milestone toward completing the transaction. A special meeting of stockholders is scheduled for December 2, 2026, where shareholders will vote on proposals related to the merger, including the issuance of shares of Odyssey common stock. The company’s board of directors unanimously recommends voting in favor of these proposals.
In a separate announcement, Odyssey revealed that it will implement a 1-for-25 reverse stock split of its common stock. The split will occur on October 28, 2026, for holders of record as of the close of business on October 26, 2026. Trading on a split-adjusted basis is set to begin when the market opens on October 29, 2026.
The reverse stock split is intended to increase the trading price of the company’s common stock. The final ratio of 1-for-25 was approved by the board on June 15, 2026, after stockholders approved a range between 1-for-20 and 1-for-25 at the annual meeting on June 1, 2026. As a result of the split, the company’s outstanding common stock is expected to decrease from approximately 58.6 million shares to about 2.3 million shares. The par value of the shares will remain at $0.0001 per share.
Following the completion of the merger, the combined company is expected to be renamed American Ocean Minerals Corporation and trade on Nasdaq under the symbol AOMC. The reverse stock split is a condition for certain investors to provide financing to the combined company.
