Oceanhawk Acquisition Corp., a Cayman Islands SPAC, completed its IPO and over-allotment in May 2026, placing $184.9 million (about $10.05 per Unit) into a U.S. Treasury-focused Trust Account. As of June 30 2026, total assets were $186.0 million, almost entirely in the Trust.
The company has not yet identified a Business Combination target and reported a net loss of $350,952 for the quarter and $379,767 for the six months, mainly general and administrative costs. Cash outside the Trust was $223,887 with a working capital deficit of $210,981, while 18.4 million Class A shares are classified as redeemable at $10.08 per share.
Management discloses substantial doubt about the company’s ability to continue as a going concern if no Business Combination or extension is completed within the 15–18 month Combination Period. The report also identifies material weaknesses in internal controls, including inadequate segregation of duties and insufficient written policies and procedures.
Highbridge Capital Management, LLC, as investment adviser to certain funds and accounts, reports beneficial ownership of 1,500,000 Class A Ordinary Shares of Oceanhawk Acquisition Corp. This represents 7.9% of the Class A Ordinary Shares outstanding, based on 18,930,000 shares following the issuer’s offering and related transactions.
Highbridge reports sole voting and dispositive power over these 1,500,000 shares, with no shared voting or dispositive power. The Highbridge Funds, including Highbridge Tactical Credit Master Fund, L.P., have the right to receive dividends and sale proceeds associated with these shares.
Oceanhawk Acquisition Corp. received an amended ownership report from Harraden Circle Investments, LLC and Frederick V. Fortmiller, Jr. stating that they now beneficially own 0 Class A shares, representing 0% of the class. The change follows an internal reorganization effective June 30, 2026, after which they ceased to be beneficial owners of more than five percent of the outstanding Class A common stock. This amendment is characterized as an exit filing for these reporting persons.
OceanHawk Acquisition Corp received a beneficial ownership report from Magnetar Financial LLC and related entities regarding its Class A ordinary shares. As of June 30, 2026, the reporting group collectively held 986,320 shares, representing 5.21% of the outstanding Class A shares.
The holdings are spread across several Magnetar-managed funds, with Magnetar Financial serving as investment adviser and exercising voting and investment power over these accounts. The ownership percentage is based on 18,930,000 shares outstanding as of May 27, 2026, as referenced from issuer information. Voting and dispositive power over all reported shares is shared among the reporting persons.
Oceanhawk Acquisition Corp. has a significant shareholder group led by Adage Capital Management, L.P. and its principals Robert Atchinson and Phillip Gross. These reporting persons collectively report beneficial ownership of 1,075,000 Class A Ordinary Shares of Oceanhawk Acquisition Corp.
This position represents 5.68% of the 18,930,000 Class A Ordinary Shares outstanding, based on the company’s referenced prospectus and current report after completion of the offering, private placement and full exercise of the underwriters' over-allotment option. The reporting persons have shared voting and shared dispositive power over all 1,075,000 shares, and no sole voting or dispositive power.
The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC report a significant ownership position in OceanHawk Acquisition Corp. Class A ordinary shares. They report beneficial ownership of 1,479,187 Class A shares, representing 7.8% of the class as of June 30, 2026. Both entities report 0 shares with sole voting or dispositive power and 1,479,187 shares with shared voting and shared dispositive power, indicating the position is held on a shared-control basis within the Goldman Sachs structure. The securities are reported by The Goldman Sachs Group, Inc. as a parent holding company, with Goldman Sachs & Co. LLC identified as the broker-dealer and investment adviser subsidiary through which the position is beneficially owned.