BALTIMORE--(BUSINESS WIRE)--Green River Asset Management has published a report on Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) (“Odyssey”) entitled, “Odyssey Produces Smoking Gun in Bombshell Filing; Mexico Stretches for Defense.” The article can be found at https://greenriverassetmanagement.wordpress.com/
In the article, Green River outlines the arguments made by Odyssey and Mexico in their respective legal filings and concludes that the investment case for owning Odyssey equity remains strong.
Green River believes that OMEX is likely to win its arbitration Claim on merit and that an award in the range of $500 million to $3 billion is probable. With OMEX trading at a market capitalization of ~$70 million at the time of publication, shares are discounting less than a 10 percent probability of an average arbitration outcome.
The latent value in Odyssey shares expressed by Green River explains why seasoned litigation investors, such as Drumcliffe LLC, FourWorld Capital Management, and Two Seas Capital have increased their stakes in Odyssey’s equity.
Forward Looking Information
This Press Release may include "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause outcomes to differ materially from those in the forward-looking statements are set forth in "Risk Factors" in Part I, Item 1A of Odyssey’s Annual Report on Form 10-K for the year ended December 31, 2020, and Odyssey’s other filings with the Securities and Exchange Commission. The possible outcomes of the matter described herein will depend upon unpredictable future events, many of which are beyond Odyssey's or Drumcliffe’s control and, accordingly, no assurance can be given that any desirable outcome will occur.