Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3599

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3599
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 capital to further fund its
biotech expansion efforts. As such it is exploring opportunities in different business segments including but not limited to data centers
and artificial intelligence and other related areas.

Impacts
of Market Conditions on Our Business

Disruption
of global financial markets and a recession or market correction, the ongoing military conflict between Russia and Ukraine and the related
sanctions imposed against Russia, and other global macroeconomic factors such as inflation, could reduce the Company’s ability
to access capital, which could in the future negatively affect our liquidity and could materially affect our business and the value of
its common stock.

Business
Combination Agreement with Aesther Healthcare Acquisition Corp.

Closing
of Business Combination

On
February 14, 2023 (the “Closing Date”), the Company, formerly known as Aesther Healthcare Acquisition Corp. (“Aesther”
or “AHAC”), consummated the Business Combination pursuant to the Business Combination Agreement. Pursuant to the Business
Combination Agreement, on the Closing Date, Merger Sub merged with and into Legacy Ocean, with Legacy Ocean continuing as the surviving
entity and a wholly-owned subsidiary of the Company. In connection with the Closing, the Company changed its name from “Aesther
Healthcare Acquisition Corp.” to “Ocean Biomedical, Inc.” and Legacy Ocean changed its name from “Ocean Biomedical,
Inc.” to “Ocean Biomedical Holdings, Inc.”

On
the Closing Date, in connection with the Closing:

    ●
    the
    Company issued to the holders of Legacy Ocean’s securities as of immediately prior to the Closing approximately 23,355,432
    shares of the Company’s Class A common stock (with a per-share value of $10.00) with an aggregate value equal to $233.6 million,
    as adjusted as required by the Business Combination Agreement to take into account net working capital, closing net debt and Legacy
    Ocean’s transaction expenses, in exchange for all of the issued and outstanding capital stock of Legacy Ocean;

    ●
    Aesther
    Healthcare Sponsor, LLC.’s (the “Sponsor”) 2,625,000 shares of the Company’s Class B common stock converted
    on a one-for-one basis into 2,625,000 shares of the Company’s Class A common stock pursuant to the Company’s Third Amended
    and Restated Certificate of Incorporation (the “Amended Certificate”);

    ●
    the
    Company issued to the Sponsor