secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Biomedical, Inc. (OCEA)
CIK:        0001869974
Form:       8-K
Filed at:   2023-02-15T23:59:59+00:00
Accession:  0001493152-23-005096
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 2.01, 5.02, 3.02, 9.01, 4.01, 2.03, 3.03, 5.01, 5.03, 5.05, 5.06
LLM model:  deepseek-v4-flash:cloud@v2

Ocean Biomedical completes merger with Aesther; begins trading Feb 15 under OCEA
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- Legacy Ocean holders received ~23.36M shares valued at ~$233.6M at $10/share in merger.
- Public stockholders redeemed 10.39M shares at ~$10.56/share, paying ~$58.85M from trust.
- Earnout: up to 19M additional shares if VWAP exceeds $15, $17.50, or $20 over 36 months.
- Post-combination shares: 34.76M common; warrants for 11.28M shares.
- Lock-up agreements with Poseidon Bio and Dr. Kathuria for one year or price condition met.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1869974/000149315223005096/0001493152-23-005096-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1869974/000149315223005096/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-005096

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer