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Oaktree Capital's SPAC Oaktree Acquisition Corp prices $175 million IPO at $10

July 17, 2019

Oaktree Acquisition Corp, a blank check company formed by Oaktree Capital Management, raised $175 million by offering 17.5 million units at $10, as expected. Units consist of one ordinary share and one-third of one warrant exercisable at $11.50. The company is led by CEO Patrick McCaney, Managing Director of Oaktree's Value Equities team.

Oaktree Acquisition Corp plans to list on the NYSE under the symbol OAC.U. Credit Suisse and Deutsche Bank acted as lead managers on the deal.