secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Biomedical, Inc. (OCEA)
CIK:        0001869974
Form:       8-K
Filed at:   2023-06-08T23:59:59+00:00
Accession:  0001493152-23-020592
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1869974/000149315223020592/0001493152-23-020592-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1869974/000149315223020592/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-020592

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