Oceanhawk Acquisition Corp. 8-K

What Happened

• Oceanhawk Acquisition Corp. announced the closing of its initial public offering (IPO) on May 22, 2026 and that underwriters fully exercised the over‑allotment on May 27, 2026. The company sold a total of 18,400,000 Units at $10.00 per Unit and completed related private placements, with proceeds placed in a segregated trust account.
• Each Unit consists of one Class A ordinary share and one Right representing one‑fourth of a Class A share (four Rights convert to one share upon a business combination). The filing includes an audited balance sheet as of May 22, 2026 (Exhibit 99.1).

Key Details

• Public Units sold: 18,400,000 Units at $10.00 each, generating $184,000,000 gross proceeds from the offering and over‑allotment.
• Private placements: 500,000 IPO Private Placement Units to Oceanhawk Acquisition I Sponsor LLC and The Benchmark Company, LLC ($5,000,000), plus 30,000 OA Option Private Placement Units to The Benchmark Company, LLC ($300,000); these Private Placement Units have transfer restrictions until 30 days after an initial business combination.
• Total placed into trust: the filing states $184,920,000 of proceeds were deposited into a U.S. segregated trust account with Odyssey Transfer & Trust Company as trustee.
• The Private Placement Units were issued pursuant to Section 4(a)(2) (non‑public offering).

Why It Matters

• For investors, the filing confirms the SPAC has completed its capital raise and deposited the offering proceeds into a trust, which is the pool of funds typically used to pursue the company’s initial business combination. The structure of the Units and the existence of sponsor/private placements are important for understanding ownership and potential dilution after a combination.
• The audited balance sheet filed as an exhibit provides a formal record of the proceeds and the company’s cash held in trust as of the IPO closing date.