Oak Woods Acquisition, a blank check company targeting tech-enabled healthcare and medical services, filed on Friday with the SEC to raise up to $50 million in an initial public offering.
The Nepean, Canada-based company plans to raise $50 million by offering 5 million units at $10. Each unit consists of one share of common stock, one right to receive one-sixth of a share upon the completion of an initial business combination, and one warrant, exercisable at $11.50. At the proposed deal size, Oak Woods Acquisition would command a market value of $66 million.
The company is led by CEO, CFO, and Chairman Lixin Zheng, the CFO of Huijie Information Technology (Shanghai) and former CFO of Jinke Investment Holding Group. The company plans to target businesses in the public and private healthcare, medical services, and technology-enabled healthcare services sectors, focusing on those with established brands, stable cash flow, and readiness to access capital markets.
Oak Woods Acquisition was founded in 2022 and plans to list on the Nasdaq under the symbol OAKUU. EF Hutton is the sole bookrunner on the deal.
