Company: OCEA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-011080
Chunk: 70

Company: Ocean Biomedical, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 70
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) 
     -  
     -  
     (4,425) 
     (4,425)
  
    SPA Warrant 
     -  
     -  
     (198) 
     (198)
  
    Ayrton Note Purchase Option 
     -  
     -  
     -  
     - 
  
    Total financial liabilities 
    $-  
    $-  
    $(72,036) 
    $(72,036)

    (1)
    Refer to Note 6, Short-Term Loan Agreements, for a reconciliation of the fair value of the 2023 Convertible Note to the total short-term loans, net of issuance costs in the Company’s condensed consolidated balance sheets.

Financial liabilities
measured at fair value during the year on a recurring basis consisted of the following as of December 31, 2024:

    (in thousands) 
    Level 1  
    Level 2  
    Level 3  
    Total 

    Fair Value Hierarchy  

    (in thousands) 
    Level 1  
    Level 2  
    Level 3  
    Total 
  
    Financial liabilities: 

    Backstop Put Option Liability 
    $ -  
    $ -  
    $(59,056) 
    $(59,056)
  
    Fixed Maturity Consideration 
     -  
     -  
     (5,753) 
     (5,573)
  
    2024 Convertible Note (1) 
     -  
     -  
     (11,375) 
     (11,375)
  
    Convertible Note (1) 
     -  
     -  
     (11,375) 
     (11,375)

    SPA Warrant 
     -  
     -  
     (1,089) 
     (1,089)
  
    Ayrton Note Purchase Option 
     -  
     -  
     -  
     - 
  
    Total financial liabilities 
    $-  
    $-  
    $(77,093) 
    $(77,093)

    (1)
    Refer to Note 6, Short-Term Loan Agreements, for a reconciliation of the fair value of the