Ocean Biomedical, Inc. Files Registration Statement For Proposed Initial Public Offering

PROVIDENCE, R.I., June 10, 2021 /PRNewswire/ -- Ocean Biomedical, Inc. ("Ocean") today announced that it has publicly filed a Registration Statement on Form S-1 (the "Registration Statement") with the Securities and Exchange Commission (the "SEC") relating to a proposed initial public offering of shares of its common stock. Ocean intends to list its common stock on the Nasdaq Global Market under the symbol "OCEA." The size of the proposed offering and price range for the proposed offering have not yet been determined.

It is expected that the net proceeds from Ocean's initial public offering will be used to fund the clinical development and preclinical development of Ocean's assets, and for business development activities, working capital and other general corporate purposes.

Berenberg and Oppenheimer & Co. are acting as joint bookrunning managers for the offering. LifeSci Capital, Ladenburg Thalmann, Brookline Capital Markets and Roth Capital Partners are acting as co-managers for the offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained, when available, from: Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53rd Floor, New York, New York 10020, or by telephone at +1 (646) 949-9000, or by e-mail at [email protected], or Oppenheimer & Co. Inc., Attn: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by calling (212) 667-8055, or by emailing [email protected].

The Registration Statement has been filed with the SEC but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.

This press release is being made pursuant to, and in accordance with, Rule 134 under the Securities Act of 1933, as amended (the "Securities Act"), and shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act.

Forward-Looking Statements

This release may contain certain forward-looking statements relating to us and our business which involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words "proposed" and "expect" or similar expressions are intended to identify forward-looking statements. Such forward-looking statements include, but are not limited to, statements relating to the proposed initial public offering, including the size of such offering, the plan to list on the Nasdaq Global Market, the expected timing of such initial public offering and the expected use of proceeds from such initial public offering. The forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecast in the forward-looking statements. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including, but not limited to uncertainties related to market conditions and the SEC's review process, and other factors relating to our business described in the section entitled "Risk Factors" in the Registration Statement. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date of this release. The factors described therein are not necessarily all of the important factors that could cause actual results or developments to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could affect our forward-looking statements. Consequently, our actual performance could be materially different from the results described or anticipated by our forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Except as required by the federal securities laws, we undertake no obligation to update any forward-looking statements.

SOURCE Ocean Biomedical, Inc.