Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2676

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2676
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 exclusive forum provision will not apply to suits brought to enforce
any duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. Section
22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability
created by the Securities Act or the rules and regulations thereunder. Accordingly, both state and federal courts have jurisdiction to
entertain such claims. As noted above, the Amended Certificate provides that the federal district courts of the United States will be
the exclusive forum for the resolution of any complaint asserting a cause of action under the Securities Act. Due to the concurrent jurisdiction
for federal and state courts created by Section 22 of the Securities Act over all suits brought to enforce any duty or liability created
by the Securities Act or the rules and regulations thereunder, there is uncertainty as to whether a court would enforce the exclusive
forum provision. Investors also cannot waive compliance with the federal securities laws and the rules and regulations thereunder.

Anti-takeover
provisions contained in the Amended Certificate and the Company’s bylaws, as well as provisions of Delaware law, could impair a
takeover attempt.

The
Amended Certificate and the Company’s bylaws contain provisions that could delay or prevent a change of control of our company
or changes in our board of directors that our stockholders might consider favorable. Some of these provisions include:

    ●
    a
    board of directors divided into three classes serving staggered three-year terms, such that not all members of the board will be
    elected at one time;

126

    ●
    a
    prohibition on stockholder action through written consent, which requires that all stockholder actions be taken at a meeting of our
    stockholders;

    ●
    a
    requirement that special meetings of stockholders be called only by the board of directors acting pursuant to a resolution approved
    by the affirmative vote of a majority of the directors then in office;

    ●
    advance
    notice requirements for stockholder proposals and nominations for election to our board of directors;

    ●
    a
    requirement that no member of our board of directors may be removed from office by our stockholders except for cause and, in addition
    to any other vote required by law, upon the approval of not less than two-thirds of all outstanding shares of our voting stock then
    entitled to vote in the election of directors;

    ●
    a
    requirement of