Carey Olsen aids Oceanhawk's US debut

Carey Olsen has played a crucial role in the successful upsized initial public offering (IPO) of Oceanhawk Acquisition Corp. The transaction involved the issuance of 16,000,000 units priced at US$10.00 each, which generated gross proceeds of US$160 million. The units began trading on the Nasdaq Stock Market under the ticker symbol “OHACU” on 21 May 2026. Each unit consists of one Class A ordinary share and one right to acquire one-fourth of a Class A ordinary share when a business combination is completed. Once separate trading commences, the Class A ordinary shares and rights will be listed under Nasdaq symbols “OHAC” and “OHACR,” respectively.

Oceanhawk, under the guidance of Chief Executive Officer Ernest Miller, operates as a blank check company incorporated in the Cayman Islands. With its primary focus on effecting mergers, share exchanges, asset acquisitions, and similar business combinations, Oceanhawk aims to target high-potential businesses on a global scale. The company plans to leverage its robust network and experience to identify compelling acquisition opportunities.

The Cayman Islands corporate team at Carey Olsen comprising partner Trevor McCabe and senior associate Evan Stitt, collaborated with U.S. law firm O'Melveny & Myers LLP on this important transaction. Trevor McCabe remarked that "Oceanhawk's upsized IPO and Nasdaq listing demonstrates strong market support for a well-positioned SPAC with experienced sponsors and compelling acquisition opportunities." He further noted that "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."

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