OceanLight Acquisition, a blank check company targeting large underpenetrated markets, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
The company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, one warrant to purchase a share exercisable at $11.50, and one right to receive one-fourth of one share at the time of the business combination.
OceanLight Acquisition is led by CEO, CFO, and Chairman Ping Zhang, the General Manager of Green Leaf Air Freight (OTC: GRLF). His other SPACs include Quantumsphere Acquisition (Nasdaq: QUMS; +2% from $10 offer price), which is in a pending business combination with Singapore-based online game platform SACH, and GalaxyEdge Acquisition Corporation (NYSE: GLED; -0.4%), which is in a pending merger with Hong Kong-based waste sorter Rongcheng Group.
The SPAC plans to target companies within large underpenetrated markets with favorable industry dynamics, with strong management teams, and a defensible market position with sustainable competitive advantage.
The New York, NY-based company was founded in 2026. It plans to list on the NYSE under the symbol OCLT.U. Polaris Advisory Partners is the sole bookrunner on the deal.
