---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-058114"
form_type: "8-K"
ticker: null
cik: "0001856961"
company_name: "Blue Ocean Acquisition Corp"
filed_at: "2023-07-19T23:59:59+00:00"
generated_at: "2026-06-13T06:33:33.277549+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Blue Ocean Acquisition Corp secures $1.5M sponsor note for business combination costs and extension

## Summary
- Entered $1.5M promissory note with sponsor Blue Ocean Sponsor LLC on June 20, 2023; $350,000 drawn on June 30, 2023.
- Proceeds fund working capital, transaction costs, and monthly trust deposits to extend deadline from Sept 2023 to June 2024.
- Principal due on earliest of June 7, 2024, initial business combination, or liquidation; sponsor may convert into private placement warrants at $1 per warrant.
- Extension provides up to nine additional months for the SPAC to complete an initial business combination.

## SEC filing metadata
- accession: 0001213900-23-058114
- form_type: 8-K
- cik: 0001856961
- company_name: Blue Ocean Acquisition Corp
- filed_at: 2023-07-19T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1856961/000121390023058114/0001213900-23-058114-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1856961/000121390023058114/ea182008-8k_blueocean.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-058114
- JSON: https://secwatch.observer/filing/0001213900-23-058114.json
- Plain text: https://secwatch.observer/filing/0001213900-23-058114.txt

## Key facts
- Debt Financings
  Blue Ocean Acquisition Corp incurred loan of up to an aggregate of one million five hundred thousand U.S. Dollars ($1,500,000.00) with Blue Ocean Sponsor LLC maturing June 7, 2024.
  - Instrument: loan
  - Principal: up to an aggregate of one million five hundred thousand U.S. Dollars ($1,500,000.00)
  - Counterparty: Blue Ocean Sponsor LLC
  - Maturity: June 7, 2024
  - Event: incurrence
  source text: On June 20, 2023, Blue Ocean Acquisition Corp (the “Company”) issued an unsecured promissory note (the “Sponsor Note”) to the Company’s sponsor, Blue Ocean Sponsor LLC (the “Sponsor”), which provides for borrowings from time to time of up to an aggregate of one million five hundred thousand U.S. Dollars ($1,500,000.00)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1856961/000121390023058114/0001213900-23-058114-index.htm
- Debt Financings
  Blue Ocean Acquisition Corp incurred debt of $350,000 with Blue Ocean Sponsor LLC.
  - Principal: $350,000
  - Counterparty: Blue Ocean Sponsor LLC
  - Event: incurrence
  source text: o the Company’s sponsor, Blue Ocean Sponsor LLC (the “Sponsor”), which provides for borrowings from time to time of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1856961/000121390023058114/0001213900-23-058114-index.htm
- Material Agreements
  Blue Ocean Acquisition Corp entered into Sponsor Note with Blue Ocean Sponsor LLC valued at $1,500,000.00 (effective 2023-06-20).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Blue Ocean Sponsor LLC
  - Value: $1,500,000.00
  - Effective: 2023-06-20
  source text: On June 20, 2023, Blue Ocean Acquisition Corp (the “Company”) issued an unsecured promissory note (the “Sponsor Note”) to the Company’s sponsor, Blue Ocean Sponsor LLC (the “Sponsor”), which provides for borrowings from time to time of up to an aggregate of one million five hundred thousand U.S. Dollars ($1,500,000.00)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1856961/000121390023058114/0001213900-23-058114-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.