secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Biomedical, Inc. (OCEA)
CIK:        0001869974
Form:       8-K
Filed at:   2024-10-17T23:59:59+00:00
Accession:  0001493152-24-041436
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1869974/000149315224041436/0001493152-24-041436-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1869974/000149315224041436/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-041436

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer