UNITED STATES

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): August 25, 2023

Blue Ocean Acquisition Corp

(Exact name of registrant as specified in its charter)

(240) 235-5049

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

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:

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§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 7.01 Regulation FD Disclosure.

Preliminary Redemption Results

Blue Ocean Acquisition Corp (the “Company”) encourages shareholders to vote in favor of the following proposals: (i) the proposal to amend the Company’s amended articles of association (the “Extension Amendment Proposal”) to extend the date by which the Company must complete a business combination from September 7, 2023 to June 7, 2024 by electing to extend the date to consummate an initial business combination on a monthly basis for up to nine times by an additional one month each time, unless the closing of the Company’s initial business combination has occurred (the “Extension”), (ii) the proposal to amend the Company’s amended articles of association by way of special resolution to permit for the issuance of Class A ordinary shares to holders of Class B ordinary shares upon the exercise of the right of a holder of the Company’s Class B ordinary shares to convert such holder’s Class B ordinary shares into Class A ordinary shares on a one-for-one basis at any time and from time to time prior to the closing of an initial business combination at the election of the holder (the “Founder Share Amendment Proposal”), (iii) the proposal to amend the Company’s amended articles of association to eliminate the limitation that the Company may not redeem public shares in an amount that would cause the Company’s net tangible assets to be less than $5,000,001 (the “Redemption Limitation Amendment Proposal”), (iv) the proposal to re-appoint, by way of ordinary resolution by the holders of Class B ordinary shares, each of Norman Pearlstine and Sean Glodek (“Director Appointment Proposal”) to the board of directors of the Company (the “Board”), (v) the proposal to ratify, by way of ordinary resolutions, the selection by the audit committee of the Board of Marcum LLP (the "Auditor Ratification Proposal") and (vi) the proposal to approve, by way of ordinary resolution, the adjournment of the Extraordinary General Meeting (as defined below) to a later date or dates, if necessary (the “Adjournment Proposal”).

As disclosed in the Company’s definitive proxy statement filed with the SEC on August 1, 2023, an extraordinary general meeting (“Extraordinary General Meeting”) of the Company’s shareholders to approve the Extension Amendment Proposal, the Founder Share Amendment Proposal, the Redemption Limitation Amendment Proposal, the Director Appointment Proposal, the Auditor Ratification Proposal and the Adjournment Proposal is scheduled to be held on August 29, 2023 at 11:00 a.m., Eastern Time.

As of 5:00 p.m., Eastern Time, on August 25, 2023, the redemption deadline, holders of 13,810,498 Class A ordinary shares have elected to have their shares redeemed in connection with the Extension, which would result in 5,164,502 Class A ordinary shares remaining outstanding after giving effect to such redemptions, but before giving effect to the conversion of any Class B ordinary shares to Class A ordinary shares by holders of Class B ordinary shares following approval of the Founder Share Amendment Proposal.

Shareholders may withdraw any election to have their Class A ordinary shares redeemed in connection with the Extension prior to the vote at the Extraordinary General Meeting. Shareholders who wish to withdraw redemptions should contact the Company’s transfer agent, Continental Stock Transfer & Trust Company, by email at spacredemptions@continentalstock.com

Forward Looking Statements

This document includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. These forward-looking statements and factors that may cause such differences include, without limitation, uncertainties relating to our ability to obtain approval for the Extension Amendment Proposal, the Founder Share Amendment Proposal, the Redemption Limitation Amendment Proposal, the Director Appointment Proposal, the Auditor Ratification Proposal or the Adjournment Proposal, our ability to complete an initial business combination, and other risks and uncertainties indicated from time to time in filings with the SEC, including “Risk Factors” in the Proxy Statement (as defined below) and in other reports we file with the SEC. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Additional Information and Where to Find It

THE COMPANY URGES SHAREHOLDERS TO READ THE DEFINITIVE PROXY STATEMENT FILED WITH THE SEC ON AUGUST 1, 2023 (THE “PROXY STATEMENT”), AS WELL AS OTHER DOCUMENTS FILED BY THE COMPANY WITH THE SEC, BECAUSE THESE DOCUMENTS CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE EXTENSION. Shareholders may obtain copies of these documents (when available), without charge, at the SEC’s website at www.sec.gov or by directing a request to: Blue Ocean Acquisition Corp, 2 Wisconsin Circle, 7th Floor, Chevy Chase, MD 20815, Attn: Secretary.

Participants in Solicitation

The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies of the Company shareholders. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of the Company’s directors and officers in the Proxy Statement which may be obtained free of charge from the sources indicated above.

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.

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