Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3473

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3473
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generally have the right to control the timing and amount of any sales of our shares of common stock to White Lion under the Common Stock
Purchase Agreement. Sales of our shares of common stock, if any, to White Lion under the Common Stock Purchase Agreement will depend
upon market conditions and other factors to be determined by us. We may ultimately decide to sell to White Lion all, some or none of
the shares of common stock that may be available for us to sell to White Lion pursuant to the Common Stock Purchase Agreement.

Because
the purchase price per share of common stock to be paid by White Lion for the shares of common stock that we may elect to sell to White
Lion under the Common Stock Purchase Agreement, if any, will fluctuate based on the market prices of our common stock at the time we
elect to sell shares of common stock to White Lion pursuant to the Common Stock Purchase Agreement, if any, it is not possible for us
to predict, prior to any such sales, the number of shares of common stock that we will sell to White Lion under the Common Stock Purchase
Agreement, the purchase price per share that White Lion will pay for shares of common stock purchased from us under the Common Stock
Purchase Agreement, or the aggregate gross proceeds that we will receive from those purchases by White Lion under the Common Stock Purchase
Agreement.

The
number of shares of common stock ultimately offered for sale by White Lion is dependent upon the number of shares of common stock, if
any, we ultimately elect to sell to White Lion under the Common Stock Purchase Agreement. However, even if we elect to sell shares of
common stock to White Lion pursuant to the Common Stock Purchase Agreement, White Lion may resell all, some or none of such shares at
any time or from time to time in its sole discretion and at different prices.

We
are not required or permitted to issue any shares of common stock under the Common Stock Purchase Agreement if such issuance would breach
our obligations under the rules or regulations of Nasdaq. Further, White Lion will not be required to purchase any shares of our common
stock if such sale would result in White Lion’s beneficial ownership exceeding 9.99% of our outstanding shares of common stock.
Our inability to access a part or all of the amount available under the Common Stock Purchase Agreement, in the absence of any other
financing sources, could have a material adverse effect on our business.

The
sale and issuance of shares of common stock to White Lion will cause dilution