OceanLight Acquisition Corp Completes IPO, Over-Allotment Exercise

What Happened

• OceanLight Acquisition Corp announced that it completed its initial public offering (IPO) of 10,000,000 units at $10.00 per unit on August 10, 2026, generating $100,000,000 in gross proceeds.
• The underwriters fully exercised their over-allotment option on August 21, 2026 to buy 1,500,000 additional units, which closed on August 24, 2026 for an additional $15,000,000.
• Simultaneously on August 24, 2026, the company completed a private placement of 7,500 units to OceanLight Capital Sponsor Ltd. at $10.00 per unit, generating $75,000.
• The company filed an unaudited pro forma balance sheet as of August 24, 2026 reflecting these transactions (Exhibit 99.1); an audited balance sheet as of August 10, 2026 reflecting the IPO proceeds was previously filed.

Key Details

• IPO: 10,000,000 units at $10.00 = $100,000,000 gross proceeds (closed Aug 10, 2026).
• Over‑allotment: 1,500,000 units at $10.00 = $15,000,000 (exercise announced Aug 21; closed Aug 24, 2026).
• Private placement: 7,500 units at $10.00 = $75,000 to OceanLight Capital Sponsor Ltd. (closed Aug 24, 2026).
• Total additional gross proceeds from the over‑allotment and private placement: $15,075,000; combined with IPO proceeds equals $115,075,000.

Why It Matters

• These transactions increase the company’s cash on hand from the IPO and related placements; the pro forma balance sheet shows the company’s financial position after the full over‑allotment and related transactions.
• For investors, the exercised over‑allotment and sponsor private placement are routine financing activities that affect the company’s capital structure and reported cash available for its stated business purposes.
• The filed pro forma and audited balance sheets provide the financial snapshot needed to assess liquidity and the impact of the IPO-related proceeds.