OceanLight Acquisition prices $100M IPO on Nasdaq

OceanLight Acquisition Corporation, a blank check company incorporated in the Cayman Islands, priced its initial public offering of 10,000,000 units at $10.00 per unit, raising $100 million, according to a press release.

Each unit consists of one ordinary share, one right to receive one-fourth of one ordinary share upon completion of an initial business combination, and one redeemable warrant. Each whole warrant entitles the holder to purchase one ordinary share at $11.50 per share, subject to adjustments.

The units are expected to trade on the Nasdaq Global Market under the ticker symbol "OCLTU." Once the units separate, the ordinary shares, rights, and warrants are expected to trade under the symbols NASDAQ: OCLT, NASDAQ: OCLTR, and NASDAQ: OCLTW, respectively. The IPO is expected to close on Aug. 10, 2026, subject to customary closing conditions.

The company has granted underwriters a 45-day option to purchase up to 1,500,000 additional units at the IPO price, less underwriting discounts and commissions, to cover over-allotments.

Polaris Advisory Partners LLC, a division of Kingswood Capital Partners LLC, is acting as sole book-running manager for the offering.

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