Company: OCEA
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001493152-25-001880
Chunk: 157

Company: Ocean Biomedical, Inc.
Filing Date: 2025-01-13
Form: 10-Q
Item: Item 8
Chunk 157
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 $
    10.34

    Equity-classified

    2/15/2028

    Second Street Capital
     
    March 2023

    200,000

    $
    10.34

    Equity-classified

    3/29/2028

    Second Street Capital
     
    March 2023

    150,000

    $
    11.50

    Equity-classified

    3/31/2028

    McKra Investments warrant
     
    March 2023

    200,000

    $
    10.34

    Equity-classified

    3/28/2028

    Special Forces F9 warrant
     
    March 2023

    150,000

    $
    11.50

    Equity-classified

    3/7/2028

    Public Warrants
     
    (4)

    5,250,000

    $
    11.50

    Equity-classified

    2/14/2028

    Private Warrants
     
    (4)

    5,411,000

    $
    11.50

    Equity-classified

    2/14/2028

    SPA Warrant A (3)
     
    July
    2024

    552,141

    $
    1.50

    Liability-classified

    5/25/2028

    SPA Warrant B (3)
     
    July
    2024

    1,332,806

    $
    5.00

    Liability-classified

    5/25/2028

    13,935,001

    (1)
    Upon Closing, and as discussed
    in Note 3, Business Combination and Backstop Agreement, Second Street Capital’s warrants issued from Legacy Ocean in
    2022 were terminated in exchange for the Converted Ocean Warrants.

    (2)
    The Legacy Ocean warrant
    issued in February 2022 was issued with the right to put the warrant in exchange for a payment of $250,000. At the time of issuance,
    these warrants were recorded as a liability and as Second Street Capital had the intention to exercise the put option in the near-term,
    the Company determined that recording the liability at its fair value of $250,000 was appropriate.