secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Biomedical, Inc. (OCEA)
CIK:        0001869974
Form:       8-K
Filed at:   2025-02-26T23:59:59+00:00
Accession:  0001493152-25-008395
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ocean Biomedical issues up to 45,000 Series A convertible preferred shares at $0.01 for reverse split vote
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- 45,000 shares of Series A preferred issued at $0.01/share; convertible into common at $0.01/share after stockholder approval of reverse split.
- Holders get 2,000 votes per share solely on the reverse stock split proposal; agree to vote in same proportion as common holders.
- Redemption right arises after authorized share increase approval or 90 days from closing, until 120 days after closing.
- Net proceeds used for general corporate purposes if shares not redeemed or converted; total potential raise is $450.
- Issuance exempt from registration under Section 4(a)(2) and Regulation D.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1869974/000149315225008395/0001493152-25-008395-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1869974/000149315225008395/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-008395

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