---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-019176"
form_type: "8-K"
ticker: "OCEA"
cik: "0001869974"
company_name: "Ocean Biomedical, Inc."
filed_at: "2023-05-26T23:59:59+00:00"
generated_at: "2026-06-14T13:28:36.921213+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Ocean Biomedical closes $7.56M first tranche of convertible notes; amends SPA

## Summary
- Closed first tranche of $7.56M in Senior Secured Convertible Notes on May 25, 2023, part of up to $27M private placement.
- Amendment adds definition of 'all the Registrable Securities' as 100% of maximum conversion shares at Floor Price.
- Amendment modifies Section 7(b)(xxii) to condition additional closings on no Equity Conditions Failure.
- Investor is Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B.

## SEC filing metadata
- accession: 0001493152-23-019176
- form_type: 8-K
- ticker: OCEA
- cik: 0001869974
- company_name: Ocean Biomedical, Inc.
- filed_at: 2023-05-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1869974/000149315223019176/0001493152-23-019176-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1869974/000149315223019176/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-019176
- JSON: https://secwatch.observer/filing/0001493152-23-019176.json
- Plain text: https://secwatch.observer/filing/0001493152-23-019176.txt

## Key facts
- Material Agreements
  Ocean Biomedical, Inc. amended Amendment No. 1 to Securities Purchase Agreement with Investor valued at up to $27,000,000 aggregate principal amount of Senior Secured Convertible Notes (effective 2023-05-25).
  - Action: amendment
  - Agreement: notes offering
  - Counterparty: Investor
  - Value: up to $27,000,000 aggregate principal amount of Senior Secured Convertible Notes
  - Effective: 2023-05-25
  source text: greement (the “ SPA ”) with an accredited investor (the “ Investor ” and, together with the Company, the “ Parties ”) for the sale of up to $27,000,000 in an aggregate principal amount of Senior
  evidence_url: https://www.sec.gov/Archives/edgar/data/1869974/000149315223019176/0001493152-23-019176-index.htm

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