---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-036565"
form_type: "8-K"
ticker: "OCEA"
cik: "0001869974"
company_name: "Ocean Biomedical, Inc."
filed_at: "2023-10-06T23:59:59+00:00"
generated_at: "2026-06-10T03:39:09.506333+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ocean Biomedical announces $10M convertible debt term sheet from largest stockholder; amends equity facility

## Summary
- Non-binding term sheet for up to $10M convertible notes from largest stockholder Poseidon Bio at $10.34 conversion, $11.50 warrants, 1-year maturity.
- Amendment to White Lion equity line allows fixed purchases at $7.00/share when stock price >=$9.00, up to 50,000 shares per notice.
- No shares have been issued under the original $75M common stock purchase agreement with White Lion.
- Proposed debt facility is unsecured, junior to senior lender, and requires senior lender consent.

## SEC filing metadata
- accession: 0001493152-23-036565
- form_type: 8-K
- ticker: OCEA
- cik: 0001869974
- company_name: Ocean Biomedical, Inc.
- filed_at: 2023-10-06T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1869974/000149315223036565/0001493152-23-036565-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1869974/000149315223036565/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-036565
- JSON: https://secwatch.observer/filing/0001493152-23-036565.json
- Plain text: https://secwatch.observer/filing/0001493152-23-036565.txt

## Key facts
- Material Agreements
  Ocean Biomedical, Inc. amended First Amendment to Common Stock Purchase Agreement with White Lion Capital LLC (effective 2023-10-04).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: White Lion Capital LLC
  - Effective: 2023-10-04
  source text: Effective October 4, 2023, the Company and White Lion entered into a first amendment to the Common Stock Purchase Agreement (the “Amendment”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1869974/000149315223036565/0001493152-23-036565-index.htm

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