Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 792

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 5
Chunk 792
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1,983  
     62,646 
  
    Net loss attributable to equity interest in Virion 
     3,301  
     708 
  
    Change in fair value of Virion Contribution Liability 
     (3,605) 
     777 
  
    Change in fair value of 2023 Convertible Note, SPA Warrant and the Ayrton Note Purchase Option 
     1,469  
     (1,171)
  
    Non-cash transaction costs in excess of Business Combination proceeds 
     -  
     7,578 
  
    Changes in assets and liabilities: 

    Prepaid expenses 
     517  
     (519)
  
    Accounts payable and accrued expenses 
     869  
     1,233 
  
    Accrued expenses - related parties 
     (343) 
     467 
  
    Net cash used in operating activities 
     (4,180) 
     (9,429)

    CASH FLOWS FROM FINANCING ACTIVITIES 

    Payment to Backstop Parties for Backstop Agreement 
     -  
     (51,606)
  
    Payment to Backstop Parties for Share Consideration 
     -  
     (12,676)
  
    Issuance of common stock pursuant to the Backstop Agreement and Subscription Agreement 
     -  
     14,260 
  
    Proceeds from Backstop Agreement 
     -  
     1,444 
  
    Proceeds from reverse recapitalization 
     -  
     52,070 
  
    Proceeds from 2023 Convertible Note 
     -  
     650 
  
    Proceeds from 2024 Convertible Notes 
     3,400  
     - 
  
    Proceeds from short-term loans, net of issuance costs 
     -  
     8,258 
  
    Proceeds from Common Stock Purchase Agreement 
     -  
     64 
  
    Repayments of short-term loans 
     -  
     (2,100)
  
    Expenses paid by related-party shareholder 
     -  
     35 
  
    Net cash provided by financing activities 
     3,400  
     10,399 
  
    Total change in cash and restricted cash 
     (780) 
     970