Oceanhawk Acquisition, a blank check company backed by investment firm OceanHawk, lowered the proposed deal size for its upcoming IPO on Tuesday.
The New York, NY-based company now plans to raise $150 million by offering 15 million units at $10. The company had previously filed to offer 20 million units at $the same price. Each unit now consists of one share of common stock and one right to receive one-fourth of one ordinary share upon the consummation of an initial business combination. Units previously contained one share and one right to one-seventh of one share. At the midpoint of the revised range, Oceanhawk Acquisition will raise 25% less in proceeds than previously anticipated.
Oceanhawk Acquisition is affiliated with OceanHawk, an outcome-driven private investment firm focused on building operating companies in essential industries. The company is led by CEO and Director Ernest Miller, who most recently served as the CEO and CFO of 2023 de-SPAC Verde Clean Fuels (Nasdaq: VGAS). OceanHawk founding partner Mike Maggard sits on the board. The SPAC intends to target a business aligned with its management team’s experience in energy, clean fuels, and industrial infrastructure sectors.
Oceanhawk Acquisition was founded in 2025. It plans to list on the Nasdaq under the symbol OHACU. The Benchmark Company is the sole bookrunner on the deal.
