OceanLight CEO Zhang Ping discloses 5.1M-share stake
Zhang Ping reports significant indirect holdings in OceanLight Acquisition Corp via the sponsor, including pre-IPO shares, rights, and $11.50 exercise-price warrants.
Rhea-AI Filing Summary
OceanLight Acquisition Corp (OCLTU) reported the initial holdings of Zhang Ping, who is a director, Chairman, CEO, CFO and a more-than-10% owner. The securities are held indirectly through OceanLight Capital Sponsor Ltd., over which Zhang has sole voting and dispositive power.
The sponsor holds 5,144,750 Ordinary Shares, including 4,933,500 shares acquired before the initial public offering, of which 643,500 shares are subject to forfeiture depending on the underwriters' over-allotment option, and 211,250 shares included in private placement units. It also holds 52,812 rights, each exchangeable for one-fourth of one ordinary share, and 211,250 warrants, each to purchase one ordinary share at an exercise price of $11.50 per share beginning 30 days after completion of the initial business combination and expiring five years after that business combination.
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Insights
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Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Zhang Ping
Role
Chairman, CEO and CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Rights F2, F3 | -- | -- | -- |
| holding | Warrants F2, F3 | -- | -- | -- |
| holding | Ordinary Shares F1, F3 | -- | -- | -- |
Holdings After Transaction:
Rights — 52,812 contracts (Indirect, By OceanLight Capital Sponsor Ltd.);
Warrants — 211,250 contracts (Indirect, By OceanLight Capital Sponsor Ltd.);
Ordinary Shares — 5,144,750 shares (Indirect, By OceanLight Capital Sponsor Ltd.)
Footnotes (3)
- F1. Includes 4,933,500 ordinary shares of the Issuer acquired by OceanLight Capital Sponsor Ltd. prior to the Issuer 's initial public offering, of which 643,500 ordinary shares are subject to forfeiture depending on the extent to which the underwriters' over-allotment option is exercised. Also includes 211,250 ordinary shares included in the private placement units that the Sponsor has committed to purchase in a private placement that will close simultaneously with the closing of the Issuer's initial public offering.
- F2. Includes 211,250 rights and 211,250 warrants included in the private placement units, which the Sponsor has committed to purchase in a private placement that will close simultaneously with the closing of the Issuer's initial public offering. Each right is exchangeable for one-fourth of one ordinary share. Each warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 per share, commencing 30 days after the completion of the Issuer's initial business combination and expiring five years after the completion of the Issuer's initial business combination or earlier upon redemption or liquidation, as described in the Issuer's prospectus.
- F3. The securities reported herein are held directly by OceanLight Capital Sponsor Ltd. (the "Sponsor"). Mr. Ping Zhang, as the sole shareholder and sole director of the Sponsor, has sole voting and dispositive power over the securities held by the Sponsor.
Key Figures
Indirectly held Ordinary Shares: 5,144,750 shares
Pre-IPO Ordinary Shares: 4,933,500 shares
Shares subject to forfeiture: 643,500 shares
+5 more
8 metrics
Indirectly held Ordinary Shares
5,144,750 shares
Ordinary Shares of OceanLight Acquisition Corp held by OceanLight Capital Sponsor Ltd. after the reported holdings date
Pre-IPO Ordinary Shares
4,933,500 shares
Ordinary shares acquired by the sponsor prior to the initial public offering
Shares subject to forfeiture
643,500 shares
Ordinary shares that may be forfeited depending on underwriters’ over-allotment option
Private placement ordinary shares
211,250 shares
Ordinary shares included in private placement units the sponsor committed to purchase
Rights underlying shares
52,812 underlying shares
Rights indirectly held, each right exchangeable for one-fourth of one ordinary share (52,812 rights)
Warrants underlying shares
211,250 underlying shares
Ordinary shares underlying warrants held indirectly by the sponsor
Warrant exercise price
$11.50 per share
Exercise price for each warrant to purchase one ordinary share
Business combination vesting start
30 days after completion
Warrants become exercisable 30 days after completion of the initial business combination
Key Terms
over-allotment option, private placement units, rights, warrants, +1 more
5 terms
over-allotment option financial
"subject to forfeiture depending on the extent to which the underwriters' over-allotment option is exercised"
An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.
private placement units financial
"ordinary shares included in the private placement units that the Sponsor has committed to purchase"
rights financial
"Includes 211,250 rights and 211,250 warrants included in the private placement units"
Rights are special privileges that give existing shareholders the opportunity to buy additional shares of a company's stock before they are offered to the public. They help investors maintain their ownership percentage and can be seen as a way to protect their investment stake. Think of rights like a VIP pass allowing current investors to purchase new shares first, ensuring they can preserve their influence in the company.
warrants financial
"Each warrant entitles the holder to purchase one ordinary share at an exercise price"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
initial business combination financial
"commencing 30 days after the completion of the Issuer's initial business combination"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider position does Zhang Ping hold in OceanLight Acquisition Corp (OCLTU)?
Zhang Ping is reported as a director, Chairman, Chief Executive Officer, Chief Financial Officer, and a more-than-10% owner of OceanLight Acquisition Corp, with securities held indirectly through OceanLight Capital Sponsor Ltd.
What OceanLight (OCLTU) rights does Zhang Ping indirectly hold and what do they convert into?
Through the sponsor, Zhang Ping indirectly holds 52,812 rights. Each right is exchangeable for one-fourth of one ordinary share of OceanLight Acquisition Corp.
What are the terms of the OceanLight (OCLTU) warrants held by the sponsor?
The sponsor holds 211,250 warrants, each entitling the holder to purchase one ordinary share at an exercise price of $11.50 per share, starting 30 days after completion of the initial business combination and expiring five years after that business combination.
Who has voting and dispositive power over the OceanLight (OCLTU) securities held by the sponsor?
The filing states that the securities are held by OceanLight Capital Sponsor Ltd., and that Mr. Ping Zhang, as the sponsor’s sole shareholder and sole director, has sole voting and dispositive power over these securities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
