Ocean Biomedical Faces Nasdaq Delisting Warning
Ticker: OCEA · Form: 8-K · Filed: Jan 15, 2025 · CIK: 1869974
Sentiment: bearish
Topics: delisting, compliance, nasdaq
Related Tickers: OCEA
TL;DR
Nasdaq's threatening to kick OCEA off the exchange - big trouble ahead.
AI Summary
Ocean Biomedical, Inc. received a notice on January 7, 2025, regarding its failure to meet the continued listing requirements of the Nasdaq Capital Market. The company was notified by Nasdaq that it is not in compliance with certain listing rules, which could lead to a transfer of its listing. The company is evaluating its options in response to this notice.
Why It Matters
This notice indicates potential delisting from Nasdaq, which could significantly impact the stock's liquidity and investor confidence.
Risk Assessment
Risk Level: high — The company has received a notice of non-compliance with Nasdaq listing rules, putting its stock at risk of delisting.
Key Players & Entities
- Ocean Biomedical, Inc. (company) — Registrant
- Nasdaq Capital Market (company) — Listing Exchange
- January 7, 2025 (date) — Date of Notice
FAQ
What specific Nasdaq listing rule(s) did Ocean Biomedical fail to meet?
The filing states that Ocean Biomedical received a notice regarding failure to satisfy a continued listing rule or standard, but does not specify which particular rule(s) were violated.
What is the potential consequence of failing to meet Nasdaq's listing requirements?
The consequence is a potential transfer of the company's listing, implying delisting from the Nasdaq Capital Market.
What actions is Ocean Biomedical taking in response to the notice?
The company is evaluating its options in response to the notice.
When was the notice of non-compliance issued?
The notice was issued on January 7, 2025.
Does the filing indicate any specific plan or timeline for Ocean Biomedical to regain compliance?
No, the filing states the company is 'evaluating its options' but does not provide a specific plan or timeline for regaining compliance.
Filing Stats: 525 words · 2 min read · ~2 pages · Grade level 12.5 · Accepted 2025-01-14 17:51:34
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
Filing Documents
- form8-k.htm (8-K) — 39KB
- 0001493152-25-002237.txt ( ) — 261KB
- ocea-20250107.xsd (EX-101.SCH) — 4KB
- ocea-20250107_def.xml (EX-101.DEF) — 29KB
- ocea-20250107_lab.xml (EX-101.LAB) — 36KB
- ocea-20250107_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): January 7, 2025 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; Transfer of Listing. Notice from Nasdaq regarding Nasdaq Listing Requirement for Annual Meeting On January 7, 2025, the Company received a notice from Nasdaq that since the Company had not yet held an annual meeting of shareholders within twelve months of the Company's fiscal year ended December 31, 2023, it no longer complies with the Listing Rules (the "Rules") for continued listing.( Listing Rules 5620(a) and 5810(c)(2)(G)). Accordingly, this matter serves as an additional basis for delisting the Company's securities from The Nasdaq Stock Market. This is formal notification that the Nasdaq Hearings Panel (the "Panel") will consider this matter in their decision regarding the Company's continued listing on The Nasdaq Capital Market. In that regard, the Company should present its views with respect to this additional deficiency to the Panel in writing no later than January 14, 2025. The Company plans on holding its annual meeting no later than March 31, 2025. 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: January 14, 2025 OCEAN BIOMEDICAL, INC. By: /s/ Jolie Kahn Jolie Kahn Chief Financial Officer