OCEA 8-K
Ocean Biomedical, Inc. (OCEA)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (CFR §230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (CFR §240.12b-2 of this chapter). Emerging growth company
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Item 8.01 Other Information
On March 26, 2025, in accordance with Section 7(g) of the Company’s promissory note to an institutional investor issued pursuant to the financing transaction executed on May 15, 2023, the Company has irrevocably and permanently lowered the Conversion Price (as defined in such note) from $1.50 to $0.01 per Share with respect to an aggregate Conversion Amount of $400,000 (the “Reduced Conversion Amount”). The Company may not redeem or prepay such Reduced Conversion Amount. Capitalized terms not otherwise defined herein, shall have the meaning ascribed thereto in such note.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 26, 2025
| OCEAN BIOMEDICAL, INC. | ||
| By: | /s/ Jolie Kahn | |
| Jolie Kahn | ||
| Chief Financial Officer | ||