---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-020592"
form_type: "8-K"
ticker: "OCEA"
cik: "0001869974"
company_name: "Ocean Biomedical, Inc."
filed_at: "2023-06-08T23:59:59+00:00"
generated_at: "2026-06-14T05:18:54.424382+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Ocean Biomedical amends loans with McKra ($1M) and Second Street ($1.7M), pays $500K fees, issues 50k shares

## Summary
- McKra Loan Amendment: $1M advance at 15% interest; $175K fee due now, $500K partial repayment after first SPA closing.
- Second Street Loans Amendment: $1.7M total at 15%; $325K fee due now, $500K partial repayment after first SPA closing.
- Company to issue 25,000 shares to each lender (50k total) as extension consideration; registration required within 30 days.
- Full repayment plus interest due after second SPA closing or upon capital raise of at least $25M.

## SEC filing metadata
- accession: 0001493152-23-020592
- form_type: 8-K
- ticker: OCEA
- cik: 0001869974
- company_name: Ocean Biomedical, Inc.
- filed_at: 2023-06-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1869974/000149315223020592/0001493152-23-020592-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1869974/000149315223020592/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-020592
- JSON: https://secwatch.observer/filing/0001493152-23-020592.json
- Plain text: https://secwatch.observer/filing/0001493152-23-020592.txt

## Key facts
- Material Agreements
  Ocean Biomedical, Inc. amended Second Street Loans Amendment (Omnibus Amendment to Loan Agreements) with Second Street Capital, LLC valued at Amendment relates to three loans totaling $1,700,000 at 15% per annum; requires payments totaling $2 (effective 2023-06-02).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Second Street Capital, LLC
  - Value: Amendment relates to three loans totaling $1,700,000 at 15% per annum; requires payments totaling $2
  - Effective: 2023-06-02
  source text: On June 2, 2023, the Company and Second Street Capital, LLC, a California limited liability company (" Second Street Capital "), entered into that certain Omnibus Amendment to Loan Agreements, dated June 2, 2023 but effective as of May 12, 2023 (the " Second Street Loans Amendment ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1869974/000149315223020592/0001493152-23-020592-index.htm
- Material Agreements
  Ocean Biomedical, Inc. amended McKra Loan Amendment with McKra Investments III valued at Amendment relates to a loan of $1,000,000 at 15% per annum; requires payments totaling $675,000 plus (effective 2023-06-02).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: McKra Investments III
  - Value: Amendment relates to a loan of $1,000,000 at 15% per annum; requires payments totaling $675,000 plus
  - Effective: 2023-06-02
  source text: On June 2, 2023, Ocean Biomedical, Inc., a Delaware corporation (the " Company "), and McKra Investments III, a California general partnership (" McKra "), entered into that certain Amendment to Loan Agreement, dated June 2, 2023 but effective as of May 12, 2023 (the " McKra Loan Amendment ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1869974/000149315223020592/0001493152-23-020592-index.htm

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