Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 1916

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 13
Chunk 1916
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 provided by their affiliates or other third parties,
which indemnification relates to and might apply to the same proceedings arising out of such director’s or officer’s services
as a director or officer. Nonetheless, our obligations to those same directors or officers are primary and any obligation of such affiliates
or other third parties to advance expenses or to provide indemnification for the expenses or liabilities incurred by those directors
are secondary.

We
will maintain general liability insurance which covers certain liabilities of our directors and officers arising out of claims based
on acts or omissions in their capacities as directors or officers, including liabilities under the Securities Act of 1933, as amended,
or the Securities Act.

The
underwriting agreement filed as Exhibit 1.1 to this registration statement provides for indemnification of us and our directors and officers
by the underwriters against certain liabilities under the Securities Act and the Securities Exchange Act of 1934.

Item
15. Recent Sales of Unregistered Securities.

Set
forth below is information regarding securities issued by us, Aesther and Legacy Ocean within the three years preceding the filing of
this registration statement that were not registered under the Securities Act. No underwriters were involved in the sales and the certificates
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.

(a)
Issuances of Capital Stock

In
September 2021, the Sponsor purchased an aggregate of 2,625,000 shares of Aesther’s Class B common stock, par value $0.0001 per
share, for an aggregate offering price of $25,000. These securities were issued pursuant to Section 4(a)(2) of the Securities Act.

In
March and April 2021, Legacy Ocean issued 41,828 shares of its common stock to certain persons who were accredited investors (consisting
of friends and family of our employees), at an aggregate offering price of $1.0 million. These transactions were effected without registration
under the Securities Act in reliance on the exemption from registration provided under Section 4(a)(2) promulgated thereunder.

In
connection with the Closing of the Business Combination, on February 14, 2023, the Company, Legacy Ocean and Polar entered into a subscription
agreement in which Polar agreed to purchase 1,350,000 newly-issued shares of our Common Stock at a per share purchase price of $10.56
and an aggregate purchase price of $