WASHINGTON (dpa-AFX) - OceanLight Acquisition Corp., a blank check company incorporated in the Cayman Islands as an exempted company, announced Friday the pricing of its initial public offering of 10 million units at an public offering price of $10.00 per unit. The Company expects the IPO to close on August 10, 2026, subject to customary closing conditions.
The units are expected to trade on The Nasdaq Global Market (Nasdaq) under the ticker symbol OCLTU beginning today, August 7, 2026
Once the securities comprising the units begin separate trading, the ordinary shares and the warrants are expected to be traded on Nasdaq under the symbols OCLT, OCLTR and OCLTW respectively.
Each unit consists of one ordinary share, one right to receive one-fourth (1/4) of one ordinary share upon the consummation of the company's initial business combination, and one redeemable warrant.
Each whole warrant entitles the holder thereof to purchase one ordinary share at a price of $11.50 per share, subject to adjustments.
The company has granted the underwriters a 45-day option to purchase up to 1,500,000 additional units at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments, if any.
For the offering, Polaris Advisory Partners LLC, a division of Kingswood Capital Partners LLC, is acting as the sole book-running manager.
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