Carey Olsen advises Oceanhawk Acquisition Corp. on upsized US$160 million IPO
Carey Olsen has advised Oceanhawk Acquisition Corp. ("Oceanhawk") on its upsized IPO of 16,000,000 units at US$10.00 per unit, amounting to gross proceeds of US$160 million.
The units began trading on the Nasdaq Stock Market (“Nasdaq”) under the ticker symbol “OHACU” on 21 May 2026. Each unit comprises one Class A ordinary share and one right to receive one-fourth of one Class A ordinary share upon completion of a business combination. Once separate trading begins, the Class A ordinary shares and rights are expected to list on Nasdaq under the symbols “OHAC” and “OHACR”, respectively.
Led by Chief Executive Officer Ernest Miller, Oceanhawk is a blank check company incorporated as a Cayman Islands exempted company. Its business purpose is to effect a merger, share exchange, asset acquisition, share purchase, recapitalisation, reorganisation, or similar business combination with one or more businesses. The company plans to focus on high‑potential businesses globally, leveraging the experience and network of the Oceanhawk platform.
Carey Olsen's Cayman Islands corporate team advising on the transaction comprised partner Trevor McCabe and senior associate Evan Stitt, alongside U.S. law firm O'Melveny & Myers LLP.
Trevor McCabe commented: "Oceanhawk's upsized IPO and Nasdaq listing demonstrates strong market support for a well-positioned SPAC with experienced sponsors and compelling acquisition opportunities. The transaction also underscores the continued strength of the Cayman Islands as a jurisdiction of choice for SPACs and Carey Olsen's expertise in international capital markets. It was a privilege to support Oceanhawk as it embarks on its next phase of growth."
