Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2685

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2685
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 the most recently completed fiscal year and the market value of its common stock held by non-affiliates
is less than $700.0 million measured on the last business day of our second fiscal quarter. To the extent we take advantage of such reduced
disclosure obligations, it may also make comparison of its financial statements with other public companies difficult or impossible.

Following
consummation of the Business Combination, we may be required to take write-downs or write-offs, or we may be subject to restructuring,
impairment or other charges that could have a significant negative effect on our financial condition, results of operations and the price
of our securities, which could cause you to lose some or all of your investment.

We
may redeem unexpired public warrants prior to their exercise at a time that is disadvantageous to the holders, thereby making your public
warrants worthless.

We
have the ability to redeem outstanding public warrants at any time after they become exercisable and prior to their expiration, at a
price of $0.01 per warrant, provided that the last reported sales price of our common stock equals or exceeds $18.00 per share for any
20 trading days within a 30-trading day period ending on the third trading day prior to the date we give notice of redemption. If and
when the public warrants become redeemable by us, we may exercise its redemption right even if it is unable to register or qualify the
underlying securities for sale under all applicable state securities laws. Redemption of the outstanding public warrants could force
the holders (i) to exercise their public warrants and pay the exercise price at a time when it may be disadvantageous for them
to do so, (ii) to sell their public warrants at the then-current market price when you might otherwise wish to hold your public warrants
or (iii) to accept the nominal redemption price which, at the time the outstanding public warrants are called for redemption, is likely
to be substantially less than the market value of their public warrants. None of the private placement warrants will be redeemable by
us so long as they are held by their initial purchasers or their permitted transferees.

131

If
we do not file and maintain a current and effective registration statement relating to the common stock issuable upon exercise of the
warrants, holders will only be able to exercise such warrants on a “cashless basis.”

If
we do not file and maintain a current and effective prospectus relating to our common stock issuable upon exercise of the