Ocean Capital Acquisition Corp (OCAC) reported that Kin (Stephen) Sze resigned as chief executive officer, chairman and director effective October 30, 2026. Dr. Pok Yu (Augustine) Chow also resigned that day as an independent director and from the Audit, Corporate Governance and Nominating, and Compensation committees. Both resignations were stated not to result from disagreement with the company over its operations, policies or practices.
On November 2, 2026, the board appointed Yiyan Li as chief executive officer, chairman and director, and named her principal financial officer until a chief financial officer is appointed. It also appointed Stephen J. Posner as an independent director and to the three committees from which Dr. Chow departed.
Ocean Capital Acquisition Corp. is a blank-check company seeking a business combination; as of June 30, 2026, it had no selected target, definitive agreement, substantive operations or operating revenue. It completed an IPO of 11,500,000 units at $10.00 each on June 10, 2026, generating $115,000,000 in gross proceeds. Each unit contains one ordinary share, one right to receive a share upon a business combination, and one warrant exercisable for a share at $11.50.
At June 30, 2026, investments held in the Trust Account were approximately $115,226,525, assuming no redemptions and before payment of up to $4,025,000 in deferred underwriting commissions and any fees and expenses associated with a business combination. OCAC also reported $171,379 in cash outside the Trust Account and $128,164 in working capital. Its private placement generated $1,500,000 from 150,000 units.
OCAC has until June 10, 2027 to complete a business combination, unless shareholders approve an extension. If it does not complete one within the applicable period, it says it will redeem public shares, then liquidate and dissolve.
Ocean Capital Acquisition Corp (OCAC) reports a change in ownership of its sponsor entity. On September 17, 2026, Poseidon Ocean Corporation and four individual holders transferred a total of 3,833,333 ordinary shares of SB Capital Holding Corporation, the sponsor of Ocean Capital Acquisition Corp, to Chi-Ping Cindy Lee. These shares represent 100% of the issued and outstanding equity interests in the sponsor. The sponsor continues to serve in its same role for Ocean Capital Acquisition Corp, remains the record holder of the same number of the company’s securities as before the transfers, and its existing rights and obligations under agreements related to the initial public offering remain unchanged.
Ocean Capital Acquisition Corp (OCAC) reported that on September 9, 2026, Dr. Man Kai (Anthony) Ho resigned as Chief Financial Officer, effective immediately. The company stated that Dr. Ho’s resignation did not result from any disagreement regarding its operations, policies, or practices. Ocean Capital has begun searching for a successor CFO, and its Chief Executive Officer, Kin (Stephen) Sze, will assume the Chief Financial Officer responsibilities until a replacement is appointed.
Ocean Capital Acquisition Corp (symbol OCAC) reported a change in its independent auditor. With audit committee and board approval, the company dismissed YCM CPA INC. as its independent registered public accounting firm on August 26, 2026, and appointed HYYH CPA LLC on August 27, 2026 for the fiscal year ended June 30, 2026.
YCM’s audit reports on the company’s financial statements for the fiscal years ended June 30, 2025 and 2024 contained an explanatory paragraph regarding substantial doubt about the company’s ability to continue as a going concern, but no adverse opinions, disclaimers, or qualifications as to scope or accounting principles. The company states there were no disagreements or reportable events with YCM, and it has requested a confirming letter from YCM filed as Exhibit 16.1.
Ocean Capital Acquisition Corp (OCAC) reported board changes, including two director resignations and two independent director appointments. On August 14, 2026, Hin Wing (Simon) Wong and Dr. Hiu Man (Elliott) Cheng resigned as directors, with Dr. Cheng also stepping down as Chairperson of the Audit, Corporate Governance and Nominating, and Compensation Committees. Both resignations are stated as not resulting from any disagreement regarding operations, policies, or practices.
On August 16, 2026, the board appointed Wei-Chieh Hao as an independent director and Chairperson of the Corporate Governance and Nominating Committee and the Compensation Committee. On August 18, 2026, the board appointed Richard T. Betts as an independent director and Chairperson of the Audit Committee. The company notes there are no appointment-related arrangements, family relationships, or related-party transactions for either appointee requiring disclosure under Item 404(a) of Regulation S-K.
Highbridge Capital Management, LLC, a Delaware limited liability company, reports beneficial ownership of 950,000 Ordinary Shares of Ocean Capital Acquisition Corp, representing 6.1% of the class. These figures are based on 15,653,333 Ordinary Shares outstanding after the issuer’s offering and related transactions.
Highbridge has sole voting and dispositive power over the 950,000 shares, which are directly held by certain funds and accounts it advises. The Highbridge Funds have the right to receive dividends and sale proceeds. Highbridge states that the report should not be construed as an admission of beneficial ownership for all purposes.
Harraden Circle Investments, LLC and Frederick V. Fortmiller, Jr. report beneficial ownership of Class A shares of Ocean Capital Acquisition Corp through several Harraden-managed funds. They report beneficial ownership of 1,387,657 Class A shares, representing 8.87% of the class. All voting and dispositive power over these shares is held on a shared basis, with no sole voting or dispositive power. The shares are held for the accounts of Harraden Circle Investors, LP and affiliated funds, and Harraden Circle Investors, LP has the right to receive dividends or sale proceeds relating to more than 5% of the class. The amendment reflects an internal reorganization effective June 30, 2026 and removes former reporting persons who are no longer beneficial owners.
Ocean Capital Acquisition Corp reported that holders of its units issued in the initial public offering may elect to separately trade the underlying securities. Each unit consists of one ordinary share with par value $0.0001, one right that entitles the holder to receive one ordinary share upon the consummation of a business combination, and one warrant exercisable for one ordinary share.
Separate trading of the ordinary shares, rights, and warrants may begin on August 3, 2026. Any units that are not separated will continue to trade on the NYSE under the symbol OCACU, while separated ordinary shares, rights, and warrants will trade under the symbols OCAC, OCACR, and OCACW, respectively. Holders who wish to separate their units must have their brokers contact Odyssey Transfer and Trust Company LLC, the company’s transfer agent.
Ocean Capital Acquisition Corp ownership disclosure: Space Summit Capital LLC reports beneficial ownership of 784,000 Units, representing 6.8% of outstanding Units as of the filing. The statement is signed by Keith Fleischmann as Managing Member on 06/17/2026.