Company: OCEA
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001493152-25-001880
Chunk: 208

Company: Ocean Biomedical, Inc.
Filing Date: 2025-01-13
Form: 10-Q
Item: Item 2
Chunk 208
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You
should read the following discussion and analysis of our financial condition and results of operations together with Ocean Biomedical,
Inc.’s (the “Company,” “Ocean Biomedical,” “we,” “us” and “our”) condensed
consolidated financial statements and related notes included elsewhere in this Report and the audited consolidated financial statements
and related notes thereto included in Exhibit 99.2 our Amendment No. 2 to Form 8-K filed with the SEC on March 31, 2023. The information
contained in this discussion and other parts of this Report include forward-looking statements that involve risks, uncertainties, and
assumptions in our business plans, strategy, and related financing. Our actual results could differ materially from the results discussed
in or implied by these forward-looking statements. Factors that could contribute or cause such differences include, but are not limited
to, the information below and the information discussed in the section titled “Cautionary Note Regarding Forward-looking Statements.”

On
February 14, 2023, we consummated a business combination (the “Business Combination”) pursuant to that certain Agreement
and Plan of Merger, dated August 31, 2022, as amended on December 5, 2022 by Amendment No. 1 (as amended, the “Business Combination
Agreement”), by and among Ocean Biomedical, Inc., formerly known as Aesther Healthcare Acquisition Corp. (the “Company”),
AHAC Merger Sub, Inc., a Delaware corporation, Aesther Healthcare Sponsor, LLC (the “Sponsor”), in its capacity as purchaser
representative, Ocean Biomedical Holdings, Inc., formerly known as Ocean Biomedical, Inc., a Delaware corporation (“Legacy Ocean”),
and Dr. Chirinjeev Kathuria, in his capacity as seller representative. In connection with the closing of the Business Combination (the
“Closing”), the Company changed its name from “Aesther Healthcare Acquisition Corp.” to “Ocean Biomedical,
Inc.” References to the “Company”, “Ocean Biomedical”, “we”, “us” and “our”
refer to the Legacy Ocean prior to the Closing of the Business Combination and Ocean Biomedical, Inc., formerly known as Aesther Healthcare
Corp., on a consolidated basis with Legacy Ocean, for periods after the Closing of the Business Combination.

Overview

We
are a biopharmaceutical company that seeks to bridge the “bench-to-bedside” gap between medical research discoveries and
patient solutions