Here are the S-1 registration statements from Ocean Capital Acquisition Corporation (OCAC) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
An S-1 covers the registration statement a company files to sell shares publicly, so if you follow OCAC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full OCAC filings page.
Ocean Capital Acquisition Corporation is registering 10,000,000 units for a $100,000,000 initial public offering. Each $10.00 unit includes one ordinary share, one redeemable warrant exercisable at $11.50 per share, and one right to receive one ordinary share at the business combination.
The SPAC will place $10.00 per unit into a U.S. trust account, giving public shareholders redemption rights at cash equal to their pro rata share, subject to a 15% cap per holder and a minimum net tangible asset requirement of $5,000,001. It has 12 months, extendable up to 36 months with shareholder approval, to complete a business combination.
The sponsor bought 3,833,333 insider shares for $25,000 and will purchase 143,250 private units for $1,432,500, creating potential dilution. The vehicle and its management have significant ties to China and Hong Kong and may target a company in those markets, but will not acquire a PRC entity with a VIE structure and highlights extensive HFCAA and PRC regulatory risks.