Odyssey Marine Exploration (NASDAQ: OMEX) announced that the U.S. Securities and Exchange Commission declared effective on October 15, 2026, its Form S-4 registration statement related to the company's proposed merger with American Ocean Minerals Corporation (AOMC).

Odyssey has scheduled a special stockholder meeting for December 2, 2026, at 10:00 a.m. Eastern Time, at which shareholders will vote on proposals related to the merger, including the issuance of Odyssey common stock in connection with the transaction. Odyssey's board of directors unanimously recommends that stockholders vote in favor of all proposals. The company filed a definitive proxy statement/prospectus with the SEC and plans to distribute it to eligible stockholders ahead of the meeting.

The company also announced a 1-for-25 reverse stock split of its common stock, effective October 29, 2026. Shares will continue to trade on the Nasdaq Capital Market under the symbol "OMEX" but under a new CUSIP number, 676118300. The reverse stock split is expected to reduce Odyssey's outstanding shares from approximately 58.6 million to approximately 2.3 million. The par value of $0.0001 per share will remain unchanged.

The reverse stock split ratio was approved by Odyssey's board on June 15, 2026, following stockholder authorization at the annual meeting on June 1, 2026. Completion of the reverse stock split is a condition for certain investors to provide financing to fund the combined company's operations following merger completion.

Stockholders also previously approved an increase in authorized common shares from 75 million to 82 million, also taking effect October 29, 2026. No fractional shares will be issued; stockholders entitled to fractional shares will receive a cash payment based on the closing price of OMEX on the effective date.

If the merger is completed, Odyssey is expected to be renamed "American Ocean Minerals Corporation," with the combined company's stock trading on Nasdaq under the ticker "AOMC." Computershare Trust Company, N.A., is acting as exchange agent and transfer agent for the reverse stock split.