Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3571

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3571
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by the Securities Act or the rules and regulations thereunder, there is uncertainty as to whether a court would enforce the exclusive
forum provision. Investors also cannot waive compliance with the federal securities laws and the rules and regulations thereunder.

Anti-takeover
provisions contained in the Amended Certificate and the Company’s bylaws, as well as provisions of Delaware law, could impair a
takeover attempt.

The
Amended Certificate and the Company’s bylaws contain provisions that could delay or prevent a change of control of our company
or changes in our board of directors that our stockholders might consider favorable. Some of these provisions include:

    ●
    a
    board of directors divided into three classes serving staggered three-year terms, such that not all members of the board will be
    elected at one time;

126

    ●
    a
    prohibition on stockholder action through written consent, which requires that all stockholder actions be taken at a meeting of our
    stockholders;

    ●
    a
    requirement that special meetings of stockholders be called only by the board of directors acting pursuant to a resolution approved
    by the affirmative vote of a majority of the directors then in office;

    ●
    advance
    notice requirements for stockholder proposals and nominations for election to our board of directors;

    ●
    a
    requirement that no member of our board of directors may be removed from office by our stockholders except for cause and, in addition
    to any other vote required by law, upon the approval of not less than two-thirds of all outstanding shares of our voting stock then
    entitled to vote in the election of directors;

    ●
    a
    requirement of 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