Ocean Biomedical Inc. filed SEC Form 8-K: Other Events
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Item 8.01 Other Information
On March 26, 2025, in accordance with Section 7(g) of the Company’s promissory note to an institutional investor issued pursuant to the financing transaction executed on May 15, 2023, the Company has irrevocably and permanently lowered the Conversion Price (as defined in such note) from $1.50 to $0.01 per Share with respect to an aggregate Conversion Amount of $400,000 (the “Reduced Conversion Amount”). The Company may not redeem or prepay such Reduced Conversion Amount. Capitalized terms not otherwise defined herein, shall have the meaning ascribed thereto in such note.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 26, 2025
| OCEAN BIOMEDICAL, INC. | ||
| By: | /s/ Jolie Kahn | |
| Jolie Kahn | ||
| Chief Financial Officer | ||