Ocean Biomedical ratifies revised Virion agreement to acquire up to 22% stake for $9M

Ocean Biomedical, Inc.

Board ratified revised agreement dated Nov 2023, received Sep 26, 2024; Ocean to own 22% of Virion fully diluted.
$9M aggregate capital contribution paid via cash and/or equity; $960k already credited.
Virion will sell 500,000 OCEA shares held; proceeds count toward $9M.
If proceeds below $9M by Apr 1, 2025, Ocean may pay difference in cash or stock.
Max common interests: 10,933,155; initial 1,166,203 already issued (2.34% as of Aug 21, 2024).

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