Oceanhawk Acquisition, a blank check company backed by investment firm OceanHawk, raised $160 million by offering 16 million units at $10. Each unit consists of one share of common stock, and one right to receive one-fourth of one share at the time of the business combination. The company originally filed to offer 20 million units with one right to receive one-seventh of one share, before it decreased the offering to 15 million units and increased to one-fourth of one right earlier this week.
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.
The New York, NY-based company will trade on the Nasdaq under the symbol OHACU. The Benchmark Company acted as sole bookrunner on the deal.
