Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 1321

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 9B
Chunk 1321
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 year
2025, the investor converted $13.7 million related to the 2024 Convertible Notes into 125,964,905 shares. The $13.7 million consisted
of $11.6 million of aggregate principal amount of the 2024 Convertible Notes, $0.4 million of accrued interest on the 2024 Convertible
Notes and $1.7 million of redemption premium.

F-39

PART
II

INFORMATION
NOT REQUIRED IN PROSPECTUS

Item
13. Other Expenses of Issuance and Distribution.

Item
14. Indemnification of Directors and Officers.

Section
145 of the Delaware General Corporation Law, or the DGCL, authorizes a corporation to indemnify its directors and officers against liabilities
arising out of actions, suits and proceedings to which they are made or threatened to be made a party by reason of the fact that they
have served or are currently serving as a director or officer to a corporation. The indemnity may cover expenses (including attorneys’
fees) judgments, fines and amounts paid in settlement actually and reasonably incurred by the director or officer in connection with
any such action, suit or proceeding. Section 145 permits corporations to pay expenses (including attorneys’ fees) incurred by directors
and officers in advance of the final disposition of such action, suit or proceeding. In addition, Section 145 provides that a corporation
has the power to purchase and maintain insurance on behalf of its directors and officers against any liability asserted against them
and incurred by them in their capacity as a director or officer, or arising out of their status as such, whether or not the corporation
would have the power to indemnify the director or officer against such liability under Section 145.

We
have adopted provisions in our amended and restated certificate of incorporation and amended and restated bylaws to be in effect immediately
prior to the completion of this offering that limit or eliminate the personal liability of our directors and officers to the fullest
extent permitted by the DGCL, as it now exists or may in the future be amended. Consequently, a director will not be personally liable
to us or our stockholders for monetary damages or breach of fiduciary duty as a director or officer, except for liability for:

    ●
    any
    breach of the director’s or an officer’s duty of loyalty to us or our stockholders; any act or omission not in good faith
    or that involves intentional misconduct or a knowing violation of