Company: OCEA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-011080
Chunk: 73

Company: Ocean Biomedical, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 73
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1,690) 
       - 
  
    Balance as of March 31, 2024 
    $(42,915) 
    $(4,444) 
    $(4,932) 
    $(2,454) 
    $- 

    18

    Level 3 Rollforward (in thousands) 
    Backstop Put Option Liability  
    Fixed Maturity Consideration  
    2023/2024 Convertible Notes  
    SPA Warrant  
    Ayrton Note Purchase Option 
  
    Balances as of December 31, 2024 
    $(59,056) 
    $(5,573) 
    $(11,375) 
    $(1,089) 
    $    - 
  
    Beginning balance 
    $(59,056) 
    $(5,573) 
    $(11,375) 
    $(1,089) 
    $    - 

    Additional Notes issued 

     (982) 

    Conversion to common stock 
     -  
     -  
     7,796  
     757  
     - 
  
    Changes in fair value 
     (2,355) 
     (429) 
     136  
     134  
     - 
  
    Balance as of March 31, 2025 
    $(61,411) 
    $(6,002) 
    $(4,425) 
    $(198) 
    $- 
  
    Ending balance 
     (61,411) 
     (6,002) 
     (4,425) 
     (198) 
     - 

5. Accounts Payable and Accrued Expenses

Accounts payable and accrued
expenses consisted of the following:

Schedule
of Accounts Payable and Accrued Expenses

    (in thousands) 
    March
31, 2025  
    December
31, 2024 
  
    Accounts payable and accrued expenses: 

    Accounting and legal fees 
    $11,326  
    $10,997 
  
    Vendor fees 
     3,452  
     3,459 
  
    Research and development 
     645  
     645 
  
    Other 
     964  
     799 
  
    Total accounts payable and accrued expenses 
    $16,387