Two Seas Capital LP Reports 9.99% Stake in Odyssey Marine Exploration and Enters Merger Support Agreement

On April 13, 2026, Two Seas Capital LP (along with its general partner and Sina Toussi) filed a Schedule 13D reporting a 9.99% beneficial ownership stake in Odyssey Marine Exploration, Inc. (OMEX). This position consists of 5,857,448 shares of common stock, which includes shares issuable upon the exercise of warrants, subject to a 9.99% blocker provision. The filing follows an April 8, 2026, merger agreement between Odyssey and American Ocean Minerals Corporation (AOM). In connection with this merger, Two Seas Capital entered into a Support Agreement, pledging to vote its shares in favor of the transaction and related proposals. Beyond the merger support, the reporting persons have engaged in discussions regarding the potential financial support for separating Odyssey's Mexican phosphate asset, PHOSAGMEX. Additionally, the Global Fund holds cash-settled swaps representing economic exposure to an additional 1,500,000 shares (approximately 2.6% of the class), though it disclaims beneficial ownership of these underlying shares. The reporting persons acquired these securities for investment purposes and may adjust their holdings based on market conditions and strategic developments.