secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Biomedical, Inc. (OCEA)
CIK:        0001869974
Form:       8-K
Filed at:   2023-10-03T23:59:59+00:00
Accession:  0001493152-23-035098
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ocean Biomedical amends VWAP trigger and reset price in side letter with Polar
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- Side letter dated October 2, 2023 amends definitions for Polar under Feb 2023 Novation Agreement.
- Seller VWAP Trigger Event occurs if VWAP below $2.50 for 20 of 30 consecutive trading days.
- Reset Price set at $8.00, subject to reduction via Dilutive Offering Reset.
- Amendment applies only to Polar's 2,666,667 shares under the Forward Purchase Agreement.
- All other terms of Novation and Forward Purchase Agreements remain unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1869974/000149315223035098/0001493152-23-035098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1869974/000149315223035098/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-035098

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