Oceanhawk Acquisition Corp. 8-K

What Happened
Oceanhawk Acquisition Corp. announced it completed its initial public offering and the full exercise of the underwriters’ overallotment. On May 22, 2026 the Company sold 16,000,000 units at $10.00 per unit (gross $160,000,000). On May 27, 2026 the underwriters exercised the over-allotment option to buy 2,400,000 additional units at $10.00 per unit (gross $24,000,000), bringing the total public units sold to 18,400,000. The Company also completed private placement sales of units (including 30,000 units to The Benchmark Company, LLC), and the filing states $184,920,000 of proceeds were placed into a segregated U.S. trust account.

Key Details

• IPO: 16,000,000 units at $10.00 per unit on May 22, 2026 (gross $160,000,000).
• Over-allotment: 2,400,000 additional units at $10.00 per unit on May 27, 2026 (gross $24,000,000); total public units = 18,400,000.
• Private placements: 500,000 private placement units previously sold at IPO closing plus 30,000 additional private placement units to The Benchmark Company, LLC (purchase price $10.00 per unit). Private placement units are subject to transfer restrictions until 30 days after the initial business combination.
• Unit composition: each unit = 1 Class A ordinary share + 1 right to receive one-fourth of a Class A share (4 rights = 1 full share upon a business combination).
• Proceeds: filing reports $184,920,000 placed into a segregated trust; an unaudited pro forma balance sheet as of May 27, 2026 is filed as Exhibit 99.1.

Why It Matters
This 8-K confirms Oceanhawk’s SPAC financing is in place: the IPO and full over-allotment are complete and the funds are held in a trust pending an initial business combination. For retail investors, the trust balance and unit structure determine the capital available for an acquisition and the potential dilution/convertibility of units and rights. Private placement units carry transfer restrictions that may affect who can trade those shares before a business combination.