Company: OCEA
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001493152-25-001880
Chunk: 56

Company: Ocean Biomedical, Inc.
Filing Date: 2025-01-13
Form: 10-Q
Item: Item 1
Chunk 56
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 on the liquidation preferences and conversion terms of each equity class, adjusted for a discount
    for the lack of marketability to account for a lack of access to an active public market. 

    (2)
    In March 2023, the Company
    issued warrants to advisors and consultants as discussed below in Note 10, Warrants, which resulted in $0.6 million of stock-based
    compensation expense in 2023. Refer to discussion below for further detail. Also included in general and administrative expense
    is the stock-based compensation expense for the options awards to non-employee directors as discussed above.

10.
Warrants

As
of September 30, 2024 and December 31, 2023, the following warrants to purchase common stock were outstanding:

 Schedule of Warrants

    September
    30, 2024

    Issuance
    Date
     
    Number
    of Shares Issuable

    Exercise
    Price

    Classification
     
    Expiration

    Lender/Name

    Second Street Capital (1) (2)
     
    February 2023

    426,427

    $
    8.06

    (2)

    3/8/2026

    Second Street Capital (1)
     
    February 2023

    85,285

    $
    8.06

    Equity-classified

    4/22/2026

    Second Street Capital (1)
     
    February 2023

    102,342

    $
    7.47

    Equity-classified

    9/30/2026

    Second Street Capital (1)
     
    February 2023

    75,000

    $
    10.34

    Equity-classified

    2/15/2028

    Second Street Capital
     
    March 2023

    200,000

    $
    10.34

    Equity-classified

    3/29/2028

    Second Street Capital
     
    March 2023

    150,000

    $
    11.50

    Equity-classified

    3/31/2028

    McKra Investments warrant
     
    March 2023

    200,000

    $
    10.34

    Equity-classified

    3/28