OCA Acquisition, a blank check company formed by Olympus Capital targeting tech and financial services, filed on Wednesday with the SEC to raise up to $130 million in an initial public offering.
The New York, NY-based company plans to raise $130 million by offering 13 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, OCA Acquisition will command a market value of $163 million.
The company is led by CEO and Director David Shen, who joined Olympus Capital in 1998 and currently serves as a Regional Managing Director. He is joined by CFO and Director Jeffrey Glat, who currently serves as CFO and Managing Director of Olympus Capital. Olympus Capital co-founder Daniel Mintz serves as a Director. OCA Acquisition intends to capitalize on the ability of the management team and the broader Olympus Capital platform primarily to identify and acquire a US business in the technology-enabled business services (including healthcare and education) or financial services sectors, with enterprise values ranging from $750 million to $1 billion.
OCA Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol OCAXU. Stifel and Nomura Securities are the joint bookrunners on the deal.
