Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3577

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3577
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 prices.

Future
sales, or the perception of future sales, by us or our stockholders in the public market could cause the market price for our common
stock to decline.

The
sale of shares of our common stock in the public market, or the perception that such sales could occur, could harm the prevailing market
price of shares of our common stock. These sales, or the possibility that these sales may occur, also might make it more difficult for
us to sell equity securities in the future at a time and at a price that it deems appropriate.

Following
the Business Combination, we had a total of 33,774,467 shares of common stock outstanding (excluding any outstanding warrants). Shares
held by our public stockholders are freely tradable without registration under the Securities Act, and without restriction, following
the Closing, by persons other than our “affiliates” (as defined under Rule 144 of the Securities Act, “Rule 144”),
including our directors, executive officers and other affiliates.

In
addition, the shares of our common stock reserved for future issuance under the 2022 Stock Option and Incentive Plan (the “Incentive
Plan”) and 2022 Employee Stock Purchase Plan (the “ESPP”) will become eligible for sale in the public market once those
shares are issued, subject to any applicable vesting requirements, lockup agreements and other restrictions imposed by law. The Incentive
Plan and ESPP will initially reserve up to 6,540,000 shares of our common stock for issuance as awards in accordance with the terms of
the Incentive Plan and ESPP. We expect to file one or more registration statements on Form S-8 under the Securities Act to register shares
of our common stock or securities convertible into or exchangeable for shares of our common stock issued pursuant to the Incentive Plan
or the ESPP. Any such Form S-8 registration statements will automatically become effective upon filing. Accordingly, shares registered
under such registration statements will be available for sale in the open market. The initial registration statement on Form S-8 is expected
to cover shares of our common stock.

In
the future, we may also issue our securities in connection with investments or acquisitions. The amount of shares of our common stock
issued in connection with an investment or acquisition could constitute a material portion of the then-outstanding shares of our common
stock. Any issuance of additional securities in connection with investments or acquisitions may result in additional dil