secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Biomedical, Inc. (OCEA)
CIK:        0001869974
Form:       8-K
Filed at:   2023-11-30T23:59:59+00:00
Accession:  0001493152-23-043107
Event type: regulatory
Sentiment:  negative
Materiality: 0.80
Item codes: 3.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ocean Biomedical receives Nasdaq delinquency notice for late 10-Q; will restate Q1/Q2 2023 results
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1869974/000149315223043107/0001493152-23-043107-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1869974/000149315223043107/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-043107

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