Company: OCEA
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001493152-25-001880
Chunk: 75

Company: Ocean Biomedical, Inc.
Filing Date: 2025-01-13
Form: 10-Q
Item: Item 1
Chunk 75
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 common to early-stage companies in the biotechnology industry including, but not limited to, new
technological innovations, protection of proprietary technology, dependence on key personnel, compliance with government regulations,
and the ability to obtain additional capital to fund operations. Our therapeutic products will require significant additional research
and development efforts, including preclinical and clinical testing and regulatory approval prior to commercialization. These efforts
require additional capital, adequate personnel and extensive compliance reporting capabilities. There can be no assurance that our research
and development will be successfully completed, that adequate protection for our intellectual property will be obtained, that any products
developed will obtain necessary government regulatory approval, or that any approved products will be commercially viable.

Basis
of Presentation

The
Company’s condensed consolidated financial statements were prepared in accordance with US GAAP. See Note 2, Basis of Presentation
and Summary of Significant Accounting Policies, to our condensed consolidated financial statements for a full description of our
basis of presentation.

Impacts
Market Conditions on Our Business

Disruption
of global financial markets and a recession or market correction, the ongoing military conflict between Russia and Ukraine and the related
sanctions imposed against Russia, and other global macroeconomic factors such as inflation, could reduce the Company’s ability
to access capital, which could in the future negatively affect our liquidity and could materially affect our business and the value of
its common stock.

Business
Combination Agreement with Aesther Healthcare Acquisition Corp.

Closing
of Business Combination

On
February 14, 2023, we consummated our previously announced Business Combination pursuant to the Business Combination Agreement, at which
time AHAC Merger Sub Inc., a wholly-owned subsidiary of AHAC, merged with and into Legacy Ocean, with Legacy Ocean surviving the merger
as a wholly-owned subsidiary of the Company. In connection with the Closing, the Company changed its name from “Aesther Healthcare
Acquisition Corp.” to “Ocean Biomedical, Inc.”

In
connection with the Closing (or immediately prior to, where indicated), among other things:

    ●
    We became a SEC-registrant
    and our common stock and public warrants commenced trading on the Nasdaq Stock Market on February 15, 2023 under the symbols “OCEA”
    and “OCEAW,” respectively.

    ●
    We issued to the holders
    of Legacy Ocean’s securities as of immediately prior to the Closing approximately 23,355,432 shares of the Company’s
    Class A common