Ocean Capital Acquisition Corp Form 10-K — Sep 28, 2026
Ocean Capital Acquisition Corp filed its 10-K for fiscal year ended June 30, 2026, disclosing that its IPO of 11.5 million units closed June 10, 2026, generating $115 million in gross proceeds placed in trust. The filing contains a going-concern warning: outside the trust account the company holds only $171,379 in cash with $128,164 of working capital, which auditors deemed insufficient to sustain operations for one year. The SPAC has until June 10, 2027 to complete an initial business combination or it must redeem public shares and liquidate.
Key figures
- Total Assets
- 115226525
- Cash Position
- 171379
- Gross Proceeds
- 115000000
- Shares Outstanding
- 15653333
- Unit Price
- $10.00
- Units Sold In IPO
- 11500000
- Working Capital
- $128,164
- Trust Account Balance
- $115,226,525 as of June 30, 2026
- Warrant Exercise Price
- $11.50
- Private Placement Units
- 150000
- Working Capital Loan Capacity
- up to $300,000
- Deadline For Business Combination
- June 10, 2027
- Deferred Underwriting Commissions
- $4,025,000
AI analysis
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