New Issue: Odyssey Marine Exploration completes $1.5 million stock sale

By Sheri Kasprzak

New York, Nov. 29 - Odyssey Marine Exploration, Inc. settled a $1.5 million private placement.

The company sold 500,000 shares at $3.00 apiece to three accredited investors - Robert S. Bears Sr., Galleon Captains Offshore Ltd. and Galleon Captains Partners, LP.

The investors received warrants for 100,000 shares, exercisable at $4.00 each through Nov. 22, 2008.

Tampa, Fla.-based Odyssey Marine recovers deep-water shipwrecks.

Issuer:	Odyssey Marine Exploration, Inc.
Issue:	Stock
Amount:	$1.5 million
Shares:	500,000
Price:	$3.00
Warrants:	For 100,000 shares
Warrant expiration:	Nov. 22, 2008
Warrant strike price:	$4.00
Investors:	Robert S. Bears Sr., Galleon Captains Offshore Ltd., Galleon Captains Partners, LP
Settlement date:	Nov. 22
Stock symbol:	Amex: OMR
Stock price:	$3.17 at close Nov. 22

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