---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-063560"
form_type: "8-K"
ticker: null
cik: "0001856961"
company_name: "Blue Ocean Acquisition Corp"
filed_at: "2023-08-04T23:59:59+00:00"
generated_at: "2026-06-12T06:29:12.014952+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Blue Ocean Acquisition issues $400K working capital note, amends CEO/consultant compensation

## Summary
- $400,000 unsecured promissory note issued to News Lens Co., due upon business combination close; no interest, no repayment if deal terminated.
- CEO Richard Leggett monthly fee set at $20,000, success bonus up to $250,000, reduced by $17,500 per month of fees paid.
- Consultant Matt Lasov monthly fee set at $32,500, success bonus of $150,000 payable within 10 days of deal close.
- Both amendments clarify services and compensation structure tied to the business combination.

## SEC filing metadata
- accession: 0001213900-23-063560
- form_type: 8-K
- cik: 0001856961
- company_name: Blue Ocean Acquisition Corp
- filed_at: 2023-08-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1856961/000121390023063560/0001213900-23-063560-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1856961/000121390023063560/ea182868-8k_blueocean.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-063560
- JSON: https://secwatch.observer/filing/0001213900-23-063560.json
- Plain text: https://secwatch.observer/filing/0001213900-23-063560.txt

## Key facts
- Debt Financings
  Blue Ocean Acquisition Corp incurred loan of $400,000 with The News Lens Co., Ltd at non-interest bearing maturing on the date on which the Company consummates the transactions contemplated by the Merger Agreement.
  - Instrument: loan
  - Principal: $400,000
  - Counterparty: The News Lens Co., Ltd
  - Rate: non-interest bearing
  - Maturity: on the date on which the Company consummates the transactions contemplated by the Merger Agreement
  - Event: incurrence
  source text: On August 3, 2023, Blue Ocean Acquisition Corp (the “ Company ”) issued an unsecured promissory note to The News Lens Co., Ltd, with a principal amount equal to $400,000 (the “ Working Capital Note ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1856961/000121390023063560/0001213900-23-063560-index.htm
- Material Agreements
  Blue Ocean Acquisition Corp entered into Working Capital Note with The News Lens Co., Ltd valued at $400,000 (effective 2023-08-03).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: The News Lens Co., Ltd
  - Value: $400,000
  - Effective: 2023-08-03
  source text: On August 3, 2023, Blue Ocean Acquisition Corp (the “ Company ”) issued an unsecured promissory note to The News Lens Co., Ltd, with a principal amount equal to $400,000 (the “ Working Capital Note ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1856961/000121390023063560/0001213900-23-063560-index.htm

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