Company: OCEA
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001493152-25-001880
Chunk: 267

Company: Ocean Biomedical, Inc.
Filing Date: 2025-01-13
Form: 10-Q
Item: Item 1A
Chunk 267
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 under its Note with the Company into shares of Company common stock pursuant to the Alternate Conversion
Price mechanism in the Note. The Company is currently evaluating the situation and working with the noteholder to arrive at an equitable
resolution. If not resolved, an issuance of shares could result in significant dilution.

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds

Unregistered
Sales of Equity Securities

Set
forth below is information regarding equity securities issued by us during the period covered by this Report that were not registered
under the Securities Act. No underwriters were involved in the sales and the certificates (or book entry notations) representing the
securities sold and issued contain legends restricting transfer of the securities without registration under the Securities Act or an
applicable exemption from registration.

Issuances
of Capital Stock

In
connection with the loan modification agreement, dated March 22, 2023, between the Company and NPIC Limited (the “Loan Modification
Agreement”), in August, 2023, we issued to NPIC Limited 50,000 shares of our common stock in exchange for a previous extension
of the maturity date of the loan made pursuant to the Loan and Transfer Agreement between AHAC, the Sponsor and NPIC Limited dated December
13, 2022. This transaction was effected without registration under the Securities Act in reliance on the exemption from registration
provided under Section 4(a)(2) of the Securities Act.

In
August, 2023, we issued to the Investor 11,032 shares of our common stock as an interest payment under the 2023 Convertible Note. This
transaction was effected without registration under the Securities Act in reliance on the exemption from registration provided under
Section 4(a)(2) of the Securities Act.

In
September, 2023, we issued to the Investor 13,445 shares of our common stock as an interest payment under the 2023 Convertible Note.
This transaction was effected without registration under the Securities Act in reliance on the exemption from registration provided under
Section 4(a)(2) of the Securities Act.

In
October, 2023, we issued to the Investor 15,173 shares of our common stock as an interest payment under the 2023 Convertible Note. This
transaction was effected without registration under the Securities Act in reliance on the exemption from registration provided under
Section 4(a)(2) of the Securities Act.

The
Company issued 39,650 shares of