{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-017639","form_type":"8-K","ticker":"OCEA","cik":"0001869974","company_name":"Ocean Biomedical, Inc.","filed_at":"2023-05-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.400410+00:00","generated_at":"2026-06-15T00:06:30.146316+00:00","sec_items":["1.01","2.03","3.02","3.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Ocean Biomedical secures up to $27M convertible note facility with Alto; initial $7.56M tranche at 8% OID","bullets":["Aggregate principal up to $27M via Senior Secured Convertible Notes; initial closing of $7.56M expected on May 22, 2023.","Net proceeds from initial Note estimated at ~$6.1M after 8% original issue discount and expenses.","Notes carry 12-month maturity, initial conversion price of $10.34/share, and are secured by all company assets.","Funds to be used for working capital, clinical development costs, and general corporate purposes.","Investor is Alto Opportunity Master Fund; Maxim Group acted as exclusive placement agent."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-017639","json":"https://secwatch.observer/filing/0001493152-23-017639.json","markdown":"https://secwatch.observer/filing/0001493152-23-017639.md","text":"https://secwatch.observer/filing/0001493152-23-017639.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1869974/000149315223017639/0001493152-23-017639-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1869974/000149315223017639/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T00:06:30.146316+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ffd7a9c19729a463ac2ea2b0e92d84ddc927ab77","claim":"Ocean Biomedical, Inc. entered into Securities Purchase Agreement with an accredited investor valued at aggregate principal amount of up to $27,000,000 (effective 2023-05-15).","evidence_excerpt":"On May 15, 2023, Ocean Biomedical, Inc. (the \" Company \") entered into a Securities Purchase Agreement (the \" SPA \") with an accredited investor (the \" Investor \") for the sale of up to three Senior Secured Convertible Notes (each, a \" Note \" and collectively, the \" Notes \"), which Notes are convertible into shares of the Company’s common stock, $0.0001 par value per share (the \" Common Stock \"), in an aggregate principal amount of up to $27,000,000, in a private placement (the \" Offering \").","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1869974/000149315223017639/0001493152-23-017639-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"an accredited investor"},{"label":"Value","value":"aggregate principal amount of up to $27,000,000"},{"label":"Effective","value":"2023-05-15"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}