Company: OCEA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-011080
Chunk: 127

Company: Ocean Biomedical, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 127
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 to significant dilution.

We have funded various of our
operations through convertible debt obligations. From time to time we have also issued a number of shares and warrants to acquire services
and assets from third parties. To the extent that our debt obligations are satisfied by way of conversions, and we issue additional shares
of our common stock to satisfy obligations or in consideration for assets or services these issuances would have a dilutive effect on
our existing stockholders.

50

Item 2. Unregistered Sales
of Equity Securities and Use of Proceeds

Unregistered Sales of Equity
Securities

Set forth below is information
regarding equity securities issued by us during the period covered by this Report that were not registered under the Securities Act. No
underwriters were involved in the sales and the certificates (or book entry notations) representing the securities sold and issued contain
legends restricting transfer of the securities without registration under the Securities Act or an applicable exemption from registration.

Issuances of Capital Stock

In connection with the
amendment and restatement of the Ayrton Convertible Note Financing, dated July 15, 2024, in January 2025, we issued to the Investor
3,844,466 shares of our common stock. This transaction was affected without registration under the Securities Act in reliance on the
exemption from registration provided under Section 4(a)(2) of the Securities Act.

In January 2025, we issued to
the Investor 1,332,806 shares of our common stock in connection with the exercise of the warrant B. This transaction was affected without
registration under the Securities Act in reliance on the exemption from registration provided under Section 4(a)(2) of the Securities
Act.

During the first quarter of 2025,
we issued to the Investor 125,964,905 shares of our common stock in connection with conversion notices received in accordance with the
terms of the 2024 Convertible Notes. These transaction were affected without registration under the Securities Act in reliance on the
exemption from registration provided under Section 4(a)(2) of the Securities Act.

During
the period of April 2025 and the first week of May 2025, we issued to the Investor an additional 66,354,338 shares of our common stock
in connection with conversion notices received in accordance with the terms of the 2024 Convertible Notes. These transactions were affected
without registration under the Securities Act in reliance on the exemption from registration provided under Section