secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Biomedical, Inc. (OCEA)
CIK:        0001869974
Form:       8-K
Filed at:   2023-05-26T23:59:59+00:00
Accession:  0001493152-23-019176
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1869974/000149315223019176/0001493152-23-019176-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1869974/000149315223019176/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-019176

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