Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3572

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3572
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 at the time the transaction commenced or (iii)
approved by the Board and at least 66 2/3% of the outstanding stock of the company not owned by the interested stockholder. An interested
stockholder includes persons owning 15% or more of the company’s voting stock.

In
addition, because we are incorporated in Delaware, we are governed by the provisions of Section 203 of the General Corporation Law of
the State of Delaware, which may prohibit certain business combinations with stockholders owning 15% or more of our outstanding voting
stock. These anti-takeover provisions and other provisions in the Amended Certificate and the Company’s bylaws could make it more
difficult for stockholders or potential acquirers to obtain control of our board of directors or initiate actions that are opposed by
the then-current board of directors and could also delay or impede a merger, tender offer or proxy contest involving our company. These
provisions could also discourage proxy contests and make it more difficult for you and other stockholders to elect directors of your
choosing or cause us to take other corporate actions you desire. Any delay or prevention of a change of control transaction or changes
in our board of directors could cause the market price of our common stock to decline.

Claims
for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us
and may reduce the amount of money available to us.

The
Amended Certificate and the Company’s bylaws provide that we will indemnify our directors and officers, in each case to the fullest
extent permitted by Delaware law. In addition, as permitted by Section 145 of the DGCL, the Amended Certificate, the Company’s
bylaws and the indemnification agreements that we entered into with our directors and officers provide that:

    ●
    we
    will indemnify our directors and officers for serving us in those capacities or for serving other business enterprises at its request,
    to the fullest extent permitted by Delaware law. Delaware law provides that a corporation may indemnify such person if such person
    acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the registrant
    and, with respect to any criminal proceeding, had no reasonable cause to believe such person’s conduct was unlawful;

    ●
    we
    may, in our discretion, indemnify employees and agents in those circumstances where indemnification is permitted by applicable law;

    ●