Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3641

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3641
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 for the Annual Meeting of
Shareowners held in the first quarter of fiscal 2025 and is incorporated herein by reference.

ITEM
12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Information
about security ownership of certain beneficial owners and management and related stockholder matters is presented under the same
captions in our definitive Proxy Statement for the Annual Meeting of Shareowners held in the first quarter of fiscal 2025 and is
incorporated herein by reference.

ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

Pre-Business
Combination Related Party Transactions of Aesther

Certain
Relationships and Related Transactions

The
following is a summary of transactions since our formation on June 17, 2021, to which we have been a participant in which the amount
involved exceeded or will exceed the lesser of $120,000 or 1% of the average of our total assets as of December 31, 2024, and in which
any of our directors, executive officers or holders of more than 5% of our capital stock, or any member of the immediate family of the
foregoing persons, had or will have a direct or indirect material interest.

Founder
Shares

On
June 30, 2021, our Sponsor purchased 2,875,000 founder shares for an aggregate purchase price of $25,000, or approximately $0.009 per
share. The number of founder shares issued was determined based on the expectation that such founder shares would represent 20% of the
outstanding shares upon completion of our IPO (excluding the placement warrants and underlying securities, and the representative’s
shares).

Up
to 375,000 founder shares held by our Sponsor are subject to forfeiture by our Sponsor depending on the extent to which the underwriters’
over-allotment option is exercised. The founder shares (including the Class A common stock issuable upon exercise thereof) may not, subject
to certain limited exceptions, be transferred, assigned or sold by the holder. The Sponsor agreed to cancel up to 375,000 of such shares
depending on the extent to which the underwriters’ over-allotment option in connection with our IPO was exercised. The underwriters’
exercised a portion (500,000 units) of the underwriters’ option to purchase up to an additional 1,500,000 units to cover over-all