By Kelly Cloonan
Oceanhawk Acquisition Corp. has filed for an initial public offering.
The special-purpose acquisition company said it will sell 20 million units at $10 apiece, according to a filing with the Securities and Exchange Commission on Monday.
The company has also granted underwriters a 45-day option to purchase up to an additional 3 million units to cover over-allotments. Benchmark is listed as the offering's underwriter.
The company additionally said that a sponsor has committed to purchase 300,000 private placement units at $10 per unit for an aggregate price of $3 million. If the underwriters' over-allotment option is exercised in full, the sponsor could purchase roughly 345,000 private placement units for an aggregate price of about $3.5 million.
The private placement is expected to close simultaneously with the closing of the IPO.
The company said it will receive gross proceeds of about $205 million from the offering, or about $235.8 million if the over-allotment option is exercised. Both figures include proceeds from the private placement.
The company plans to focus on acquiring businesses with competitive advantages such as high switching costs or proprietary data, and that are capable of growing organically and through acquisitions.
The company has applied to have its units listed on the Nasdaq under the ticker OHACU. Once the securities comprising the units begin separate trading, the company expects its Class A ordinary shares and public rights will be listed under the symbols OHAC and OHACR, respectively.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
March 23, 2026 12:58 ET (16:58 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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