---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-004392"
form_type: "8-K"
ticker: "OCEA"
cik: "0001869974"
company_name: "Ocean Biomedical, Inc."
filed_at: "2023-02-13T23:59:59+00:00"
generated_at: "2026-06-19T16:49:23.931704+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Aesther Healthcare amends backstop agreement; increases share purchase limit to 8M, defers $4.37M in expenses

## Summary
- Amended backstop agreement with Vellar increases maximum shares Vellar may purchase from 6,000,000 to 8,000,000.
- Vendors have deferred approximately $4,374,646 in transaction expenses.
- Agreement is in connection with proposed merger with Ocean Biomedical (previously announced on Aug 31, 2022).
- Break-up fee of $1,000,000 plus legal fees payable to Vellar under certain termination events.

## SEC filing metadata
- accession: 0001493152-23-004392
- form_type: 8-K
- ticker: OCEA
- cik: 0001869974
- company_name: Ocean Biomedical, Inc.
- filed_at: 2023-02-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1869974/000149315223004392/0001493152-23-004392-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1869974/000149315223004392/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-004392
- JSON: https://secwatch.observer/filing/0001493152-23-004392.json
- Plain text: https://secwatch.observer/filing/0001493152-23-004392.txt

## Key facts
- Material Agreements
  Ocean Biomedical, Inc. amended Definitive A&R Backstop Agreement with Vellar Opportunity Fund SPV LLC – Series 3 valued at increase the maximum number of shares Vellar may purchase under the Definitive A&R Backstop Agreemen (effective 2023-02-12).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: Vellar Opportunity Fund SPV LLC – Series 3
  - Value: increase the maximum number of shares Vellar may purchase under the Definitive A&R Backstop Agreemen
  - Effective: 2023-02-12
  source text: On February 12, 2023, Aesther, Ocean Biomedical and Vellar again amended and restated the Original Backstop Agreement (the “ Definitive A&R Backstop Agreement ”), a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference, to increase the maximum number of shares Vellar may purchase under the Definitive A&R Backstop Agreement from 6,000,000 to 8,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1869974/000149315223004392/0001493152-23-004392-index.htm
- Material Agreements
  Ocean Biomedical, Inc. entered into Agreement and Plan of Merger with Aesther Healthcare Acquisition Corp., AHAC Merger Sub, Inc., Aesther Healthcare Sponsor, LLC, Ocean Biomedical, Inc., and Dr. Chirinjeev Kathuria (effective 2022-08-31).
  - Action: entry
  - Agreement: merger
  - Counterparty: Aesther Healthcare Acquisition Corp., AHAC Merger Sub, Inc., Aesther Healthcare Sponsor, LLC, Ocean Biomedical, Inc., and Dr. Chirinjeev Kathuria
  - Effective: 2022-08-31
  source text: On August 31, 2022, Aesther Healthcare Acquisition Corp., a Delaware corporation (“ Aesther ”) entered into an Agreement and Plan of Merger by and among Aesther, AHAC Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Aesther (“ Merger Sub ”), Aesther Healthcare Sponsor, LLC, Aesther’s sponsor (the “ Sponsor ”), in its capacity as purchaser representative, Ocean Biomedical, Inc., a Delaware corporation (“ Ocean Biomedical ”), and Dr. Chirinjeev Kathuria, in his capacity as seller representative (as may be amended and/or restated from time to time, the “ Merger Agreement ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1869974/000149315223004392/0001493152-23-004392-index.htm

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