Ocean Biomedical lowers note conversion price to $0.01 per share on $400K amount

Ocean Biomedical, Inc.

Conversion price on $400K promissory note reduced irrevocably from $1.50 to $0.01 per share.
Company may not redeem or prepay the $400K Reduced Conversion Amount.
Note originally issued on May 15, 2023 to an institutional investor.
Change triggers potential dilution by allowing conversion at near-zero price.

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