The full exercise of the over-allotment increases the SPAC's trust by 15% to $184.9M, providing more acquisition capacity. Monitor for a business combination announcement — the sponsor now has a larger pool to target. No immediate trading catalyst; the units, shares, and rights trade as a blank-check vehicle with no operating business.
Price Chart
Executive Summary
Oceanhawk Acquisition Corp. filed an 8-K reporting the full exercise of the underwriters' over-allotment option on May 27, 2026, resulting in the sale of an additional 2,400,000 units at $10.00 per unit for gross proceeds of $24,000,000. Simultaneously, the company completed a private placement of 30,000 additional units to Benchmark for $300,000. Total proceeds of $184,920,000 are now held in trust, increasing the SPAC's acquisition firepower.
Key Facts
- Underwriters fully exercised over-allotment option to purchase 2,400,000 additional units at $10.00 per unit, generating $24,000,000 in gross proceeds.
- Simultaneously, Benchmark Company purchased 30,000 additional private placement units at $10.00 per unit, generating $300,000.
- Total trust account balance as of May 27, 2026 is $184,920,000, up from $160,800,000 pre-over-allotment.
- Total units sold in IPO and over-allotment: 18,400,000 units.
- Private placement units are subject to transfer restrictions until 30 days after a business combination.
Financial Impact
Trust account increased by $24,120,000 to $184,920,000; total gross proceeds from IPO and over-allotment: $184,000,000 from units plus $5,300,000 from private placements.
Risk Factors
- No identified target — SPAC must complete a business combination within the allotted timeframe or liquidate.
- Shareholder redemptions could reduce trust proceeds at the time of a deal vote.
- Private placement units are locked up until 30 days post-business combination, limiting near-term selling by insiders.
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-065046 |
| Document: ea0293534-8k_oceanhawk.htm | 0001213900-26-065046 |
| Document: 0001213900-26-065046-index-headers.html | 0001213900-26-065046 |
| Document: 0001213900-26-065046-index.html | 0001213900-26-065046 |
| Document: 0001213900-26-065046.txt | 0001213900-26-065046 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 4, 2026 20w ago | 8-K | $10.04 $10.14 | ▲ +1.00% | ▲ +2.37% | $10.30 (+2.59%) |
Jun 1, 2026 21w ago | 3 | $10.01 $10.13 | ▲ +1.20% | ▲ +2.50% | $10.30 (+2.90%) |
May 29, 2026 21w ago | 8-K | $10.01 $10.13 | ▲ +1.20% | ▲ +2.50% | $10.30 (+2.90%) |
US Market Status
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