Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3814

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 14
Chunk 3814
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    $-  
    $-  
    $(59,056) 
    $(59,056)
  
    Fixed Maturity Consideration 
     -  
     -  
     (5,573) 
     (5,573)
  
    2024 Convertible Note (1) 
     -  
     -  
     (11,375) 
     (11,375)
  
    SPA Warrant 
     -  
     -  
     (1,089) 
     (1,089)
  
    Total financial liabilities 
    $-  
    $-  
    $(77,093) 
    $(77,093)

Financial liabilities measured at fair value during
the year on a recurring basis consisted of the following as of December 31, 2023:

    (in thousands) 
    Level 1  
    Level 2  
    Level 3  
    Total 

    Fair Value Hierarchy  

    (in thousands) 
    Level 1  
    Level 2  
    Level 3  
    Total 
  
    Financial liabilities: 

    Backstop Put Option Liability 
    $-  
    $-  
    $(58,523) 
    $(58,523)
  
    Fixed Maturity Consideration 
     -  
     -  
     (4,123) 
     (4,123)
  
    2023 Convertible Note (1) 
     -  
     -  
     (5,618) 
     (5,618)
  
    Convertible Note (1) 
     -  
     -  
     (5,618) 
     (5,618)

    SPA Warrant 
     -  
     -  
     (764) 
     (764)
  
    Total financial liabilities 
    $-  
    $-  
    $(69,028) 
    $(69,028)

    (1)
    Refer
    to Note 6, Short-Term Loan Agreements, for a reconciliation of the fair value of the 2023 Convertible Note to the total short-term
    loans, net of issuance costs in the Company’s consolidated balance sheets.

During
the fiscal years ended December 31, 2024 and 202