Track pricing and timing of the final IPO pricing. Post-listing, monitor for any early 8-K filings indicating a target identification — a well-regarded SPAC team often commands premium aftermarket trading. The size reduction suggests measured capital raising, not distress.
Executive Summary
Oceanhawk Acquisition Corp. filed Amendment No. 1 to its S-1, reducing the proposed offering size from $200M (20M units) to $150M (15M units). The SPAC targets US-based high-potential businesses with a 15-month (extendable to 18-month) deadline to complete a de-SPAC transaction. The filing marks progress toward IPO pricing but no target has been identified.
Key Financial Metrics
Key Facts
- Offering reduced from $200M (20M units) to $150M (15M units) at $10.00/unit
- Trust account deposit of $150,750,000 ($10.05/unit) expected
- Sponsor to purchase 300,000 private placement units at $10.00/unit ($3M)
- Benchmark Company to purchase 187,500 private placement units at $10.00/unit ($1.875M)
- 15-month deadline to complete initial business combination (18 months if agreement signed within 15 months)
- Founder shares purchased at ~$0.004/share represent significant dilution for public shareholders
- No target business selected and no substantive discussions initiated
Financial Impact
IPO reduced from $200M to $150M; sponsor and underwriter committed to $4.875M in private placement units; trust will hold $150.75M at closing
Risk Factors
- No target identified — SPAC liquidation risk if no deal closes within 15-18 months
- Substantial dilution from founder shares purchased at ~$0.004/share
- Public shareholders have limited voting rights on director appointments pre-business combination
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-1/A Filing (Primary) | 0001213900-26-058915 |
| Document: ea027056103ex3-2.htm | 0001213900-26-058915 |
| Document: ea027056103ex1-1.htm | 0001213900-26-058915 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 8-K | $9.99 | awaiting T+20 | — | $10.00 (+0.10%) |
Oct 6, 2026 20d ago | SC 13G | $9.99 | awaiting T+20 | — | $10.00 (+0.10%) |
Aug 26, 2026 8w ago | 3 | $9.96 $9.99 | ▲ +0.30% | ▲ +0.81% | $10.00 (+0.40%) |
May 19, 2026 22w ago | S-1/A | — | awaiting T+20 | — | — |
US Market Status
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