Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2677

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2677
---
 approval of not less than two-thirds of all outstanding shares of our voting stock to amend any bylaws by stockholder
    action or to amend specific provisions of the Amended Certificate;

    ●
    the
    authority of the board of directors to issue convertible preferred stock on terms determined by the board of directors without stockholder
    approval and which convertible preferred stock may include rights superior to the rights of the holders of common stock; and

The
Amended Certificate contains a prohibition on us engaging in a business combination with an interested stockholder for a period of three
years following becoming an interested stockholder unless (i) approved by the Board prior to the person becoming an interested stockholder,
(ii) the interested stockholder owning at least 85% of the voting stock of the company at the time the transaction commenced or (iii)
approved by the Board and at least 66 2/3% of the outstanding stock of the company not owned by the interested stockholder. An interested
stockholder includes persons owning 15% or more of the company’s voting stock.

In
addition, because we are incorporated in Delaware, we are governed by the provisions of Section 203 of the General Corporation Law of
the State of Delaware, which may prohibit certain business combinations with stockholders owning 15% or more of our outstanding voting
stock. These anti-takeover provisions and other provisions in the Amended Certificate and the Company’s bylaws could make it more
difficult for stockholders or potential acquirers to obtain control of our board of directors or initiate actions that are opposed by
the then-current board of directors and could also delay or impede a merger, tender offer or proxy contest involving our company. These
provisions could also discourage proxy contests and make it more difficult for you and other stockholders to elect directors of your
choosing or cause us to take other corporate actions you desire. Any delay or prevention of a change of control transaction or changes
in our board of directors could cause the market price of our common stock to decline.

Claims
for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us
and may reduce the amount of money available to us.

The
Amended Certificate and the Company’s bylaws provide that we will indemnify our directors and officers, in each case to the fullest
extent permitted by Delaware law. In addition, as permitted by Section 145 of the DGCL, the Amended Certificate, the Company’s