Ocean Capital Acquisition Corp 8-K

What Happened

• Ocean Capital Acquisition Corp (OCAC) announced it consummated its initial public offering on June 10, 2026, selling 11,500,000 units at $10.00 per unit (including the full 1,500,000‑unit over‑allotment) for gross IPO proceeds of $115,000,000.
• Simultaneously, the company completed a private placement of 150,000 units at $10.00 per unit, raising an additional $1,500,000. Each Unit comprises one ordinary share, one right to receive one ordinary share upon an initial business combination, and one redeemable warrant (each whole warrant exercisable for one ordinary share at $11.50).
• A total of $115,000,000 was placed in a U.S.‑based trust account maintained by Odyssey Transfer & Trust Company. The company filed an audited balance sheet as of June 10, 2026, as Exhibit 99.1 to the Form 8‑K.

Key Details

• IPO date: June 10, 2026; Units sold in IPO: 11,500,000; IPO gross proceeds: $115,000,000.
• Private placement: 150,000 Units; gross proceeds: $1,500,000; combined gross proceeds: $116,500,000.
• Each unit = 1 ordinary share + 1 right + 1 redeemable warrant (warrant exercise price: $11.50).
• The filing notes $4,025,000 in the aggregate of the representative’s deferred underwriting commissions included in the net proceeds amount.

Why It Matters

• For investors, this 8‑K confirms OCAC is now a funded SPAC (blank‑check company) with capital held in trust to pursue an initial business combination; that funding level and the trust placement are key to the company’s ability to seek targets.
• The unit structure (shares, rights, and warrants) and the $11.50 warrant exercise price indicate potential future dilution and capital events investors should monitor.
• The audited balance sheet filing provides verification of proceeds and trust funding; investors tracking OCAC’s timeline for a merger or acquisition now know the company is capitalized and active.