Ocean Biomedical Faces Delisting Concerns
Ticker: OCEA · Form: 8-K · Filed: Dec 11, 2024 · CIK: 1869974
Sentiment: bearish
Topics: delisting, listing-standards, sec-filing
Related Tickers: OCEA
TL;DR
OCEA might get kicked off Nasdaq - big trouble ahead.
AI Summary
Ocean Biomedical, Inc. filed an 8-K on December 11, 2024, to report a notice of delisting or failure to satisfy continued listing rules. The company's common stock is currently traded on the Nasdaq Capital Market under the ticker symbol OCEA.
Why It Matters
This filing indicates potential delisting from the Nasdaq, which could significantly impact the liquidity and valuation of Ocean Biomedical's stock.
Risk Assessment
Risk Level: high — Failure to meet listing standards can lead to delisting, severely impacting stock liquidity and investor confidence.
Key Players & Entities
- Ocean Biomedical, Inc. (company) — Registrant
- Nasdaq Capital Market (company) — Exchange where stock is traded
- OCEA (company) — Stock ticker symbol
FAQ
What specific listing rule has Ocean Biomedical, Inc. failed to satisfy?
The filing does not specify the exact listing rule that Ocean Biomedical, Inc. has failed to satisfy, only that it is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard'.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on December 5, 2024.
What is the stock ticker symbol for Ocean Biomedical, Inc.?
The stock ticker symbol for Ocean Biomedical, Inc. is OCEA.
On which exchange is Ocean Biomedical, Inc.'s common stock traded?
Ocean Biomedical, Inc.'s common stock is traded on the Nasdaq Capital Market.
What is the state of incorporation for Ocean Biomedical, Inc.?
Ocean Biomedical, Inc. is incorporated in Delaware.
Filing Stats: 541 words · 2 min read · ~2 pages · Grade level 13 · Accepted 2024-12-11 16:46:22
Key Financial Figures
- $0.0001 — ction 12(b) of the Act: Common Stock, $0.0001 par value OCEA The Nasdaq Stock Mar
- $11.50 — of common stock at an exercise price of $11.50 OCEAW The Nasdaq Stock Market LLC
- $35 million — et Value of Listed Securities (MVLS) of $35 million. On December 5, 2024, Nasdaq sent a let
Filing Documents
- form8-k.htm (8-K) — 39KB
- 0001493152-24-049647.txt ( ) — 261KB
- ocea-20241205.xsd (EX-101.SCH) — 4KB
- ocea-20241205_def.xml (EX-101.DEF) — 29KB
- ocea-20241205_lab.xml (EX-101.LAB) — 36KB
- ocea-20241205_pre.xml (EX-101.PRE) — 27KB
- form8-k_htm.xml (XML) — 6KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): December 5, 2024 OCEAN BIOMEDICAL, INC. (Exact name of registrant as specified in its charter) Delaware 001-40793 87-1309280 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 55 Claverick St. , Room 325 Providence , RI 02903 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (401) 444-7375 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Common Stock, $0.0001 par value OCEA The Nasdaq Stock Market LLC Warrants, each warrant exercisable for one share of common stock at an exercise price of $11.50 OCEAW The Nasdaq Stock Market LLC (Title of Each Class) (Trading Symbol) (Name of Each Exchange on Which Registered) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (CFR 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (CFR 240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard Section 5550(b)(2) of The Listing Rules (the "Rules") require listed securities to maintain a minimum Market Value of Listed Securities (MVLS) of $35 million. On December 5, 2024, Nasdaq sent a letter to the Company notifying it that based upon the Company's MVLS for the last 30 consecutive business days, the Company no longer meets this requirement. Consequently, a deficiency exists with regard to the Rule. However, the Rules also provide the Company a compliance period of 180 calendar days in which to regain compliance. If at anytime during this compliance period the Company's MVLS closes at $35 million or more for a minimum of ten consecutive business days, Nasdaq will provide written confirmation of compliance and this matter will be closed. In the event the Company does not regain compliance with the Rule prior to the expiration of the compliance period, it will receive written notification that its securities are 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: December 11, 2024 OCEAN BIOMEDICAL, INC. By: /s/ Jolie Kahn Jolie Kahn Chief Financial Officer