Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2055

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 2055
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 On February 14, 2023 (the “Closing Date”), we consummated the previously announced
Business Combination (as defined below) pursuant to that certain Agreement and Plan of Merger, dated August 31, 2022, as amended on December
5, 2022 by Amendment No. 1 (as amended, the “Business Combination Agreement”), by and among the registrant, AHAC Merger Sub,
Inc., a Delaware corporation (“Merger Sub”), Aesther Healthcare Sponsor, LLC (the “Sponsor”), in its capacity
as purchaser representative, Ocean Biomedical Holdings, Inc., formerly known as Ocean Biomedical, Inc., a Delaware corporation (“Legacy
Ocean”), and Dr. Chirinjeev Kathuria, in his capacity as seller representative.

Pursuant
to the Business Combination Agreement, on the Closing Date, Merger Sub merged with and into Legacy Ocean, with Legacy Ocean continuing
as the surviving entity and a wholly-owned subsidiary of the Company. In connection with the closing of the Business Combination, we
changed our name from “Aesther Healthcare Acquisition Corp.” to “Ocean Biomedical, Inc.”

As
contemplated by the Business Combination Agreement, on the Closing Date, Merger Sub merged with and into Legacy Ocean, with Legacy Ocean
continuing as the surviving entity and a wholly-owned subsidiary of the registrant (the “Merger,” and, together with the
other transactions and ancillary agreements contemplated by the Business Combination Agreement, the “Business Combination”).
In connection with the closing of the Business Combination (the “Closing”), we changed our name from “Aesther Healthcare
Acquisition Corp.” to “Ocean Biomedical, Inc.” and Legacy Ocean changed its name from “Ocean Biomedical, Inc.”
to “Ocean Biomedical Holdings, Inc.”

As
of the open of trading on February 15, 2023, our common stock and public warrants began trading on the Nasdaq Stock Market LLC (“Nasdaq”)
as “OCEA” and “OCEAW,” respectively.

Substantially
concurrently with the filing of our previous Annual Report on Form 10-K, we filed an Amendment No. 2 to our Current Report on Form 8-K,
initially filed on February 15, 2023, which included the audited consolidated financial statements of Legacy Ocean for the year ended
December 31, 2022 and related Management’s Discussion and Analysis of Financial Condition and Results of Operations and una