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Lucosky Brookman LLP Successfully Represents EF Hutton in $16.5 Million Registered Direct Offering of Odyssey Marine Exploration, Inc.

Lucosky Brookman congratulates its client, EF Hutton, division of Benchmark Investments, LLC, on its successful $16.5 million registered direct offering of Odyssey Marine Exploration, Inc. (NASDAQ: OMEX) ("Odyssey Marine Exploration" or "Company"), a global subsea mineral exploration and development company. Under the terms of the subscription agreements, the Company has agreed to sell approximately 4.9 million units (“Units”). Each Unit consists of one share of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), and one warrant to purchase one share of Common Stock (the “Warrant”). The Warrants are exercisable at any time beginning six months after the date of issuance and ending on the fifth anniversary of issuance. The Warrants have an exercise price of $3.35 per share. The purchase price for each Unit is $3.35. 

The gross proceeds to the Company from the registered direct offering are approximately $16.5 million, before deducting the placement agent’s fees and other estimated offering expenses. The Company intends to use the net proceeds from the offering for debt reduction and general corporate purposes. 

Lucosky Brookman represented EF Hutton in its capacity as sole book-running manager.