Ocean Capital Acquisition, a blank check company targeting sectors with growth potential, refiled on Wednesday with the SEC to raise up to $60 million in an initial public offering. The company originally filed for an IPO in 2022, but withdrew its filing in July.
The New York, NY-based company plans to raise $60 million by offering 6 million units at $10. Each unit contains one share of common stock and one right to receive one-tenth of a share of common stock. At the proposed deal size, Ocean Capital Acquisition would command a market value of $77.5 million.
Ocean Capital Acquisition is led by CEO and Chairman Stephen Sze, who previously co-led Proficient Alpha Acquisition from its 2019 IPO until it merged with Lion Group Holding (LGHL) in 2020. It had previously been set to be led by Simon Wong, the Managing Partner of private equity firm Hermitage Capital HK, who now serves as a director.
The New York, NY-based company was founded in 2021 and plans to list on the Nasdaq under the symbol OCACU. Brookline Capital Markets is the sole bookrunner on the deal.
