Oceanhawk Acquisition closes upsized $160 million IPO

Oceanhawk Acquisition Corp. (NASDAQ: OHACU) completed its initial public offering of 16 million units at $10 per unit, generating $160 million in gross proceeds, according to a company statement.

The blank check company's units began trading on the Nasdaq Stock Market on May 21, 2026. Each unit includes one Class A ordinary share and one right to receive one-fourth of one Class A ordinary share upon completion of a business combination. The Class A ordinary shares and rights will trade separately under symbols "OHAC" and "OHACR" respectively once separate trading begins.

The underwriter received a 45-day option to purchase up to 2.4 million additional units to cover over-allotments.

Chief Executive Officer Ernest Miller leads the Cayman Islands-incorporated company, which seeks to complete a merger, share exchange, asset acquisition or similar business combination. Miller has 25 years of experience in the commodity-driven energy sector with expertise in financial management and strategic planning.

The company plans to focus on global high-potential businesses while leveraging the Oceanhawk platform's experience and network. The Benchmark Company served as sole book-running manager for the offering.

The Securities and Exchange Commission declared the company's Form S-1 registration statement effective on May 20, 2026.

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