Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2682

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2682
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existing stockholders purchased our securities at a price below the current trading price of such securities, and may experience a positive
rate of return based on the current trading price.

Certain
of our securityholders acquired shares of our common stock or warrants at prices below the current trading price of our common stock,
and may experience a positive rate of return based on the current trading price. Such securityholders may be incentivized to sell their
securities at prices below the prevailing trading price of such securities because the prices at which they acquired their shares may
be lower than prevailing market prices and/or the prices at which public investors purchased our securities in the open market, and therefore
such shareholders may generate positive rates of return on their investment that would not be available to public shareholders that acquired
their securities at higher 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