Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 1561

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 10
Chunk 1561
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 regarding securities issued by us, Aesther and Legacy Ocean within the three years preceding the filing of
this registration statement that were not registered under the Securities Act. No underwriters were involved in the sales and the certificates
representing the securities sold and issued contain legends restricting transfer of the securities without registration under the Securities
Act or an applicable exemption from registration.

(a)
Issuances of Capital Stock

In
September 2021, the Sponsor purchased an aggregate of 2,625,000 shares of Aesther’s Class B common stock, par value $0.0001 per
share, for an aggregate offering price of $25,000. These securities were issued pursuant to Section 4(a)(2) of the Securities Act.

In
March and April 2021, Legacy Ocean issued 41,828 shares of its common stock to certain persons who were accredited investors (consisting
of friends and family of our employees), at an aggregate offering price of $1.0 million. These transactions were effected without registration
under the Securities Act in reliance on the exemption from registration provided under Section 4(a)(2) promulgated thereunder.

In
connection with the Closing of the Business Combination, on February 14, 2023, the Company, Legacy Ocean and Polar entered into a subscription
agreement in which Polar agreed to purchase 1,350,000 newly-issued shares of our Common Stock at a per share purchase price of $10.56
and an aggregate purchase price of $14.3 million (the “Polar Subscription”). The Polar Subscription was the method by which
Polar exercised its right to purchase “Additional Shares” pursuant to the Backstop Agreement to which Polar acquired a portion
of the rights from Vellar pursuant to the Polar Agreement. The shares acquired by Polar as part of the Polar Subscription are subject
to the restrictions for “Additional Shares” set forth in the Backstop Agreement. These transactions were effected without
registration under the Securities Act in reliance on the exemption from registration provided under Section 4(a)(2) promulgated thereunder.

179

In
connection with the Closing of the Business Combination, on February 14, 2023, the registrant issued to Sponsor 1,365,000 shares of Aesther’s
Class A common stock in connection with Sponsor obtaining two (2) three-month extensions beyond the September 16, 2022 deadline to complete
an initial business combination. Such shares were reclassified as Ocean Bi