Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 347

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 2
Chunk 347
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 the exemption from registration provided under Section 4(a)(2) promulgated thereunder.

On
February 15, 2023, the February 2022 Second Street Loan and April 2022 Second Street Loan were further amended whereas the maturity dates
were extended from February 15, 2023 to March 31, 2023. We were required to repay the principal and accrued interest of the February
2022 Second Street Loan and April 2022 Second Street Loan the earlier of (i) 5 business days after our next financing or closing of the
Business Combination or (ii) March 31, 2023. In consideration of the extension of the February 2022 Second Street Loan, we paid a $50,000
extension fee and issued to Second Street Capital a warrant to purchase 50,000 shares of our Common Stock with an exercise price of $10.34
per share exercisable until February 15, 2028. In consideration of the extension of the April 2022 Second Street Loan, we paid a $25,000
extension fee and issued to Second Street Capital a warrant to purchase 25,000 shares of our Common Stock with an exercise price of $10.34
per share exercisable until February 15, 2028. These transactions were effected without registration under the Securities Act in reliance
on the exemption from registration provided under Section 4(a)(2) promulgated thereunder.

Dated
as of March 19, 2023, we entered into a Strategic Advisory Agreement with Special Forces F9, LLC (“Special Forces”). We issued
a warrant to Special Forces for 150,000 shares of our Common Stock, exercisable until March 7, 2028 at an exercise price of $11.50 per
share. These transactions were effected without registration under the Securities Act in reliance on the exemption from registration
provided under Section 4(a)(2) promulgated thereunder.

Dated
as of March 28, 2023, we entered into a Loan Agreement with McKra Investments III pursuant to which we borrowed $1.0 million to pay certain
accrued expenses. The loan bears interest at 15% per annum and is due within three business days of our next financing or receipt of
proceeds from the Backstop Agreement or, if earlier, 45 days from the date of the advance. We issued a warrant to the lender for 200,000
shares of our