ZombieHealthcare
What Happened to Ocean Biomedical?
Ticker: OCEASPAC Year: 2021Merger: 2022
Return
-100.0%
Current Price
$0.02
Peak Price
$26.6
Trust Size
$2M
Summary
Ocean Biomedical is a biopharmaceutical company that in-licenses and develops therapeutics from leading research universities. The company went public via SPAC merger with Aesther Healthcare Acquisition Corp in 2023.
What Happened
Aesther Healthcare Acquisition Corp merged with Ocean Biomedical in 2023. The company has struggled significantly post-merger, with its stock collapsing to $0.02/share. It trades on OTC markets after being delisted from Nasdaq. While technically not bankrupt, Ocean Biomedical faces severe going-concern risks.
Timeline
2021-09-02
S-1 Registration Filed
2022-11-22
Merger Proxy Filed (DEFM14A)