OceanLight Acquisition IPO Pricing: $100 Million on Nasdaq

Key takeaways

• OceanLight Acquisition Corporation priced a $100 million IPO on August 7, 2026 at $10.00 per unit; the deal closed on August 10.
• Each unit contains one ordinary share, one right to one-fourth of a share after a business combination, and one redeemable warrant.
• Units trade on the Nasdaq Global Market as OCLTU. Polaris Advisory Partners, a division of Kingswood Capital Partners, is the sole bookrunner.
• The company is not limiting its search to an industry or region.

The IPO pricing

OceanLight, a Cayman Islands blank-check company, priced 10,000,000 units at $10.00 on August 7, 2026, the same day its Form S-1 (File No. 333-296802) was declared effective. Trading in the units began on Nasdaq that day. The company announced the closing on August 10, and an 8-K describes the deal and the agreements signed around it. Underwriters hold a 45-day option from the prospectus date to buy up to 1,500,000 more units at the IPO price to cover over-allotments; the filing does not report that option as exercised.

Gross proceeds from the units were $100,000,000. At the closing, OceanLight also sold 211,250 private units to its sponsor, OceanLight Capital Sponsor Ltd., at $10.00 each, raising $2,112,500. The private units match the public units except for transfer restrictions and registration rights, and no underwriting discounts were paid on them.

What each unit holds

The unit design is more layered than a plain share-and-warrant SPAC unit. Each one carries:

• one ordinary share, par value $0.0001;
• one right to receive one-fourth of an ordinary share when the initial business combination is completed;
• one redeemable warrant to buy one ordinary share at $11.50, subject to adjustment.

Once the pieces trade separately, they are expected to list on Nasdaq as OCLT (shares), OCLTR (rights) and OCLTW (warrants).

Term	Detail
Pricing date	August 7, 2026
Closing date	August 10, 2026
Units	10,000,000 at $10.00
Gross proceeds	$100,000,000
Private units	211,250 at $10.00
Over-allotment option	Up to 1,500,000 units, 45 days

Agreements and background

The registration statement was originally filed on June 15, 2026. The company adopted its amended and restated memorandum and articles of association on June 17, and they took effect when the registration statement became effective. At the closing, OceanLight signed an underwriting agreement dated August 7 with Polaris, a rights agreement and a warrant agreement with Continental Stock Transfer & Trust Company, an investment management trust agreement, a registration rights agreement, a private placement units purchase agreement and an administrative services agreement with the sponsor. A share escrow agreement places the founder shares in escrow, and each director and officer has an indemnification agreement.

Management and advisers

Ping Zhang is chairman, chief executive officer and chief financial officer. Becky Fallon, Sean Michael Deegan and Daniel M. McCabe joined the board effective August 7 and were determined to be independent under Nasdaq listing standards. All three sit on the audit and compensation committees. Deegan chairs the audit committee and qualifies as an audit committee financial expert, and Fallon chairs the compensation committee. Celine and Partners, P.L.L.C. is company counsel, and O’Melveny & Myers LLP advised the underwriter.

What it means for IPO watchers

A $100 million raise with both rights and warrants in every unit adds to the dilution a future target will weigh. The company says it will not be limited to a particular industry or geographic region, so there is no sector signal in the filing. The next documents to watch are the audited balance sheet reflecting the closing and any report on whether the over-allotment option is used.