Ocean Capital closes $115 million IPO including over-allotment
Ocean Capital Acquisition Corporation has closed its initial public offering, raising $115 million through the sale of 11.5 million units at $10.00 each, including the full exercise of the underwriters' over-allotment option. The units, listed on the NYSE under the symbol OCACU, include ordinary shares, redeemable warrants, and rights. A.G.P./Alliance Global Partners acted as the sole book-running manager.
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Ocean Capital Acquisition Corporation has closed its initial public offering, raising $115 million after the full exercise of the underwriters' over-allotment option. The blank check company, incorporated in the British Virgin Islands, priced 10,000,000 units at $10.00 per unit, with an additional 1,500,000 units sold via the over-allotment option. Each unit consists of one ordinary share, one redeemable warrant, and one right to receive one ordinary share upon a future business combination. The redeemable warrants allow holders to purchase one ordinary share at $11.50 per share, subject to adjustments.
The units commenced trading on the New York Stock Exchange (NYSE) under the ticker symbol "OCACU" on June 9, 2026. Following the separation of the unit components, the ordinary shares, warrants, and rights are listed on the NYSE under the symbols "OCAC", "OCACW", and "OCACR", respectively. The offering was conducted pursuant to a registration statement on Form S-1 (File No. 333-282462), which was declared effective by the U.S. Securities and Exchange Commission (SEC) on June 8, 2026.
A.G.P./Alliance Global Partners acted as the sole book-running manager for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, served as the co-manager. Sichenzia Ross Ference Carmel LLP acted as counsel to the company, while Ortoli Rosenstadt LLP acted as counsel to the underwriters.
Offering Details
The table below summarizes the key components of the IPO:
| Component | Details |
|---|---|
| Total Units | 10,000,000 |
| Over-allotment Units | 1,500,000 |
| Price per Unit | $10.00 |
| Total Offering Size | $115,000,000 |
| Warrant Exercise Price | $11.50 per share |
| Trading Symbol (Units) | OCACU |
Ocean Capital Acquisition Corporation was formed to effect a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. The company intends to search for target businesses across various industries without specific sector limitations.
Which industries or sectors is Ocean Capital Acquisition Corporation most likely to target for its initial business combination?
How will the $115 million raised be allocated during the trust period prior to a potential merger?
What is the expected timeline for Ocean Capital to identify and complete a business combination?
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