Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2050

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 7A
Chunk 2050
---
 Warrant is exercisable for 552,141 shares of our Common Stock at
an exercise price of $11.50 per share, exercisable until May 25, 2028. The warrant can be exercised by payment of the exercise price
or through a cashless exercise if, at the time of exercise, a registration statement is not effective (or the prospectus contained therein
is not available for use) for the resale by the holder of all of the shares underlying the warrant. 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.

Elkurt
Brown License Agreements: On June 13, 2024, we amended the Initial Brown License Agreements such that $0.2 million of past due license
fees were paid on July 17, 2024, and $0.2 million of past due license fees and $0.1 million in past due patent expenses were to be paid
by October 1, 2024, which remain unpaid and are subject to negotiation between the parties.

Elkurt
RIH License Agreements: Only July 17, 2024, we entered into an amendment to pay $0.1 million by July 22, 2024, which was paid.

(c)
Grants and Exercises of Stock Options and Restricted Stock

None.

181

SIGNATURES

Pursuant
to the requirements of Section 13 or 15(d) of the Securities Act of 1934, the Registrant has duly caused this Report to be signed on
its behalf by the undersigned, thereunto duly authorized.

    April 8, 2025
    Ocean
    Biomedical, Inc.

    By:
    /s/
    Chirinjeev Kathuria

    Name:
    
    Chirinjeev Kathuria

    Title:
    Chairman of the Board

    (Principal
    Executive Officer)

POWER
OF ATTORNEY

Each
person whose individual signature appears below hereby authorizes and appoints Chirinjeev Kathuria and Jolie Kahn, and each of them, with full
power of substitution and resubstitution and full power to act without the other, as his or her true and lawful attorney-in-fact and
agent to act in his or her name, place and stead and to execute in the name and on behalf of each person, individually and in each capacity