Document:

EX-10.31

 Exhibit 10.31 

AMENDMENT NO. 4 TO THE COMMON 

STOCK PURCHASE AGREEMENT 

This Amendment No. 4 (this “Amendment”) to that certain Common Stock Purchase Agreement, dated as of June 23, 2021
(as amended and as may be amended, restated, supplemented or otherwise modified from time to time, the “Purchase Agreement”), by and among Ocean Biomedical, Inc., a Delaware corporation (the “Company”) and The
Regents of the University of California, as Trustee of the University of California Retirement Plan (the “Purchaser”), is made and entered into as of August 25, 2021, by and among the Company and the Purchaser. Terms used
herein but not otherwise defined shall have the meanings as set forth in the Purchase Agreement. 
 WHEREAS, the
Company and the Purchaser have entered into the Purchase Agreement for the purchase and sale of the Common Stock of the Company; 

WHEREAS, on July 9, 2021, the Company and the Purchaser have previously entered into that certain Amendment
No. 1 to the Purchase Agreement to extend the termination date under the Purchase Agreement; 
 WHEREAS, on
July 29, 2021, the Company and the Purchaser have previously entered into that certain Amendment No. 2 to the Purchase Agreement to extend the termination date under the Purchase Agreement; 

WHEREAS, on August 9, 2021, the Company and the Purchaser have previously entered into that certain Amendment
No. 3 to the Purchase Agreement to further revise the Purchase Agreement; 
 WHEREAS, the Company and the
Purchaser mutually wish to further amend the Purchase Agreement to further extend the termination date under the Purchase Agreement; and 

WHEREAS, pursuant to Section 6.5 of the Purchase Agreement, the Purchase Agreement may be amended in a writing
executed by an authorized representative of each of the Company and the Purchaser. 
 NOW, THEREFORE BE IT
RESOLVED, in consideration of the foregoing recitals and for other consideration, the adequacy and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

 

	1.	 AMENDMENT OF PURCHASE AGREEMENT.  

1.1 Amendment of Section 6.2. Pursuant to Section 6.5 of the Purchase Agreement, Section 6.2 of the
Purchase Agreement is hereby amended and restated to read in its entirety as follows: 
 “Termination. This Agreement shall
automatically terminate upon the earliest to occur of (i) the written consent of the Company and Purchaser, (ii) the withdrawal by the Company of the Registration Statement, (iii) following the execution of the Underwriting Agreement,
the termination of such Underwriting Agreement in accordance with its terms, or (iv) the Registration Statement shall not have been declared effective by the Commission by 11:59 P.M. (Eastern Time) on October 15, 2021.” 

  
 1 

	2.	 GENERAL PROVISIONS.  

2.1 Full Force and Effect. Except as expressly modified by this Amendment, notwithstanding anything to the contrary in Section 6.2
of the Agreement, the terms of the Purchase Agreement are and shall remain in full force and effect. 
 2.2 Execution. This Amendment
may be executed in counterparts, each of which shall be deemed an original but which together shall constitute one and the same instrument. In addition, this Amendment may be executed by facsimile or “PDF” and such facsimile or
“PDF” signature shall be deemed to be an original. 
 2.3 Governing Law. This Amendment and any controversy arising out of
or relating to this Amendment shall be governed by and construed under the laws of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware. 

2.4 Modification. This Amendment may not be altered, amended or modified in any way unless done so in accordance with Section 6.5
of the Purchase Agreement. 
 [Signature Page Follows] 

  
 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed
by their respective authorized signatories as of the date first indicated above. 
  

			
	 COMPANY:

	
	 OCEAN BIOMEDICAL, INC.

		
	By: 	 	/s/ Chirinjeev Kathuria
	Name:	 	Dr. Chirinjeev Kathuria
	Title: 	 	Executive Chairman

  

			
	 PURCHASER:

	
	 THE REGENTS OF THE UNIVERSITY OF CALIFORNIA, AS TRUSTEE OF THE UNIVERSITY OF CALIFORNIA RETIREMENT PLAN

	
	 August 25, 2021

		
	By: 	 	/s/ Jagdeep Singh Bachher
	Name:	 	Jagdeep Bachher
	Title: 	 	Chief Investment Officer

 SIGNATURE PAGE TO AMENDMENT NO. 4
TO THE COMMON STOCK 
 PURCHASE AGREEMENTEX-10.32

 Exhibit 10.32 

AMENDMENT NO. 5 TO THE COMMON 

STOCK PURCHASE AGREEMENT 

This Amendment No. 5 (this “Amendment”) to that certain Common Stock Purchase Agreement, dated as of June 23, 2021
(as amended and as may be amended, restated, supplemented or otherwise modified from time to time, the “Purchase Agreement”), by and among Ocean Biomedical, Inc., a Delaware corporation (the “Company”) and The
Regents of the University of California, as Trustee of the University of California Retirement Plan (the “Purchaser”), is made and entered into as of October 15, 2021, by and among the Company and the Purchaser. Terms used
herein but not otherwise defined shall have the meanings as set forth in the Purchase Agreement. 
 WHEREAS, the
Company and the Purchaser have entered into the Purchase Agreement for the purchase and sale of the Common Stock of the Company; 

WHEREAS, on July 9, 2021, the Company and the Purchaser have previously entered into that certain Amendment
No. 1 to the Purchase Agreement to extend the termination date under the Purchase Agreement; 
 WHEREAS, on
July 29, 2021, the Company and the Purchaser have previously entered into that certain Amendment No. 2 to the Purchase Agreement to extend the termination date under the Purchase Agreement; 

WHEREAS, on August 9, 2021, the Company and the Purchaser have previously entered into that certain Amendment
No. 3 to the Purchase Agreement to further revise the Purchase Agreement; 
 WHEREAS, on August 25, 2021,
the Company and the Purchaser have previously entered into that certain Amendment No. 4 to the Purchase Agreement to extend the Purchase Agreement; 

WHEREAS, the Company and the Purchaser mutually wish to further amend the Purchase Agreement to further extend the
termination date under the Purchase Agreement; and 
 WHEREAS, pursuant to Section 6.5 of the Purchase Agreement,
the Purchase Agreement may be amended in a writing executed by an authorized representative of each of the Company and the Purchaser. 

NOW, THEREFORE BE IT RESOLVED, in consideration of the foregoing recitals and for other consideration, the
adequacy and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
  

	1.	 AMENDMENT OF PURCHASE AGREEMENT.  

1.1 Amendment of Section 6.2. Pursuant to Section 6.5 of the Purchase Agreement, 

Section 6.2 of the Purchase Agreement is hereby amended and restated to read in its entirety as follows: 

“Termination. This Agreement shall automatically terminate upon the earliest to occur of (i) the written consent of the
Company and Purchaser, (ii) the withdrawal by the Company of the Registration Statement, (iii) following the execution of the Underwriting Agreement, the termination of such Underwriting Agreement in accordance with its terms, or
(iv) the Registration Statement shall not have been declared effective by the Commission by 11:59 P.M. (Eastern Time) on December 31, 2021.” 

  
 1 

	2.	 GENERAL PROVISIONS.  

2.1 Full Force and Effect. Except as expressly modified by this Amendment, notwithstanding anything to the contrary in Section 6.2
of the Agreement, the terms of the Purchase Agreement are and shall remain in full force and effect. 
 2.2 Execution. This Amendment
may be executed in counterparts, each of which shall be deemed an original but which together shall constitute one and the same instrument. In addition, this Amendment may be executed by facsimile or “PDF” and such facsimile or
“PDF” signature shall be deemed to be an original. 
 2.3 Governing Law. This Amendment and any controversy arising out of
or relating to this Amendment shall be governed by and construed under the laws of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware. 

2.4 Modification. This Amendment may not be altered, amended or modified in any way unless done so in accordance with Section 6.5
of the Purchase Agreement. 
 [Signature Page Follows] 

  
 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed
by their respective authorized signatories as of the date first indicated above. 
  

			
	 COMPANY:

	
	 OCEAN BIOMEDICAL, INC.

		
	By:	 	/s/ Chirinjeev Kathuria

 
			
	Name:	 	Dr. Chirinjeev Kathuria
	Title:	 	Executive Chairman
	
	 PURCHASER:

	
	 THE REGENTS OF THE UNIVERSITY OF CALIFORNIA, AS TRUSTEE OF THE UNIVERSITY OF CALIFORNIA RETIREMENT
PLAN

 
			
		
	By:	 	/s/ Jagdeep Singh Bachher

 
			
	Name:	 	Jagdeep Bachher
	Title:	 	Chief Investment Officer

 SIGNATURE PAGE TO AMENDMENT NO. 5 TO THE COMMON STOCK 

PURCHASE AGREEMENTEX-10.33

 Exhibit 10.33 

AMENDMENT NO. 6 TO THE COMMON 

STOCK PURCHASE AGREEMENT 

This Amendment No. 6 (this “Amendment”) to that certain Common Stock Purchase Agreement, dated as of June 23, 2021
(as amended and as may be amended, restated, supplemented or otherwise modified from time to time, the “Purchase Agreement”), by and among Ocean Biomedical, Inc., a Delaware corporation (the “Company”) and The
Regents of the University of California, as Trustee of the University of California Retirement Plan (the “Purchaser”), is made and entered into as of December 31, 2021, by and among the Company and the Purchaser. Terms used
herein but not otherwise defined shall have the meanings as set forth in the Purchase Agreement. 
 WHEREAS, the
Company and the Purchaser have entered into the Purchase Agreement for the purchase and sale of the Common Stock of the Company; 

WHEREAS, on July 9, 2021, the Company and the Purchaser have previously entered into that certain Amendment
No. 1 to the Purchase Agreement to extend the termination date under the Purchase Agreement; 
 WHEREAS, on
July 29, 2021, the Company and the Purchaser have previously entered into that certain Amendment No. 2 to the Purchase Agreement to extend the termination date under the Purchase Agreement; 

WHEREAS, on August 9, 2021, the Company and the Purchaser have previously entered into that certain Amendment
No. 3 to the Purchase Agreement to further revise the Purchase Agreement; 
 WHEREAS, on August 25, 2021,
the Company and the Purchaser have previously entered into that certain Amendment No. 4 to the Purchase Agreement to extend the Purchase Agreement; 

WHEREAS, on October 15, 2021, the Company and the Purchaser have previously entered into that certain Amendment
No. 5 to the Purchase Agreement to extend the Purchase Agreement; 
 WHEREAS, the Company and the Purchaser
mutually wish to further amend the Purchase Agreement to further extend the termination date under the Purchase Agreement; and 

WHEREAS, pursuant to Section 6.5 of the Purchase Agreement, the Purchase Agreement may be amended in a writing
executed by an authorized representative of each of the Company and the Purchaser. 
 NOW, THEREFORE BE IT RESOLVED, in
consideration of the foregoing recitals and for other consideration, the adequacy and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

1. AMENDMENT OF PURCHASE AGREEMENT.  

1.1 Amendment of Section 5.5. Pursuant to Section 6.5 of the Purchase Agreement, Section 5.5 of the
Purchase Agreement is hereby amended and restated to read in its entirety as follows: 

 “Use of Proceeds. The Subscription Amount shall be used by the Company for the
continued pre-and post-clinical development of the Company’s drug product candidates and/or business development activities, working capital and other general corporate purposes. The Company shall
prioritize the development of any drug product candidates sourced from the University of California until such time as the Company has deployed cash equal to the Subscription Amount.” 

1.2 Amendment of Section 6.2. Pursuant to Section 6.5 of the Purchase Agreement, Section 6.2 of the
Purchase Agreement is hereby amended and restated to read in its entirety as follows: 
 “Termination. This Agreement shall
automatically terminate upon the earliest to occur of (i) the written consent of the Company and Purchaser, (ii) the withdrawal by the Company of the Registration Statement, (iii) following the execution of the Underwriting Agreement,
the termination of such Underwriting Agreement in accordance with its terms, or (iv) the Registration Statement shall not have been declared effective by the Commission by 11:59 P.M. (Eastern Time) on February 14, 2022.” 

2. GENERAL PROVISIONS.  

2.1 Full Force and Effect. Except as expressly modified by this Amendment, notwithstanding anything to the contrary in Section 5.5
or Section 6.2 of the Agreement, the terms of the Purchase Agreement are and shall remain in full force and effect. 
 2.2
Execution. This Amendment may be executed in counterparts, each of which shall be deemed an original but which together shall constitute one and the same instrument. In addition, this Amendment may be executed by facsimile or “PDF”
and such facsimile or “PDF” signature shall be deemed to be an original. 
 2.3 Governing Law. This Amendment and any
controversy arising out of or relating to this Amendment shall be governed by and construed under the laws of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of
the State of Delaware. 
 2.4 Modification. This Amendment may not be altered, amended or modified in any way unless done so in
accordance with Section 6.5 of the Purchase Agreement. 
 [Signature Page Follows] 

  
 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed
by their respective authorized signatories as of the date first indicated above. 
  

			
	COMPANY:
	
	OCEAN BIOMEDICAL, INC.
		
	By:	 	/s/ Chirinjeev Kathuria                    
	Name: Dr. Chirinjeev Kathuria
	Title: Executive Chairman
	
	PURCHASER:
	
	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA, AS TRUSTEE OF THE UNIVERSITY OF CALIFORNIA RETIREMENT PLAN
	
	January 11, 2022
	By:	 	/s/ Jagdeep Singh Bachher                    
	Name: Jagdeep Bachher
	Title: Chief Investment Officer

 SIGNATURE PAGE TO AMENDMENT NO. 6 TO THE COMMON STOCK 

PURCHASE AGREEMENT

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