Ocean Biomedical, Inc. (OCEA): Nasdaq/NYSE listing notice — Ocean Biomedical receives Nasdaq delinquency notice for late 10-Q; will restate Q1/Q2 2023 results

Ocean Biomedical, Inc.

Nasdaq notified Ocean Biomedical on Nov 22, 2023 for non-compliance with Listing Rule 5250(c)(1) due to late Form 10-Q.
Company must submit compliance plan by Jan 22, 2024 and file delinquent Form 10-Q by May 20, 2024.
Will restate Q1 and Q2 2023 financials based on new SEC interpretation on accounting for backstop agreements.
Backstop agreements with Vellar Opportunity Fund SPV LLC-Series 3, Meteora entities, and Polar Multi-Strategy Master Fund.
No immediate effect on listing/trading; further delays could impact compliance.

item 3.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Ocean Biomedical, Inc. received a nasdaq deficiency notice notice regarding late filing (rules 5250(c)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: late filing
Rules: 5250(c)(1)

Exact text from the filing

November 22, 2023, from the Nasdaq Listing Qualifications Department (“ Nasdaq ”) indicating that the Company remains in non-compliance with the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic reports with the SEC. The Notice will have no immediate effect on the listing or trading of the Company’s common stock, although there can be no assurances that further delays in the filing of the Form 10-Q will not have an impact on the listing or trading of the Company’s common stock. Nasdaq indic

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Ocean Biomedical, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-043107

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