OCA Acquisition Corp. Announces Adjournment of Special Meeting of Stockholders

Rhea-AI Summary

OCA Acquisition Corp. (Nasdaq: OCAX) announced the adjournment of its special meeting of stockholders originally held on January 18, 2023. The meeting has been rescheduled for January 19, 2023, at 9:00 a.m. Eastern Time. It will focus on stockholder voting regarding the extension of the deadline to finalize the company's initial business combination, as detailed in the definitive proxy statement filed with the SEC on December 30, 2022. OCA Acquisition Corp., a special purpose acquisition company, aims to merge or acquire businesses primarily in the technology-enabled business services and financial services sectors.

Positive

• Adjournment allows additional time for stockholders to consider proposals regarding the initial business combination.
• Focus on acquiring businesses in technology-enabled services may open up significant growth opportunities.

Negative

• Adjournment of the meeting may indicate ongoing uncertainty about finalizing the business combination.
• Potential delays in completing the acquisition process could impact investor confidence.

NEW YORK, Jan. 18, 2023 /PRNewswire/ -- OCA Acquisition Corp. (the "Company") (Nasdaq: OCAX), announced today that it convened and then adjourned, without conducting any other business, the Company's special meeting of stockholders (the "Special Meeting") held on January 18, 2023. The Special Meeting has been adjourned until January 19, 2023 at 9:00 a.m., Eastern Time.

The Special Meeting is being held to vote on the proposals described in the Company's definitive proxy statement, filed with the Securities and Exchange Commission (the "SEC") on December 30, 2022, relating to its proposed extension of the deadline to complete its initial business combination.

About OCA Acquisition Corp.

OCA Acquisition Corp. is a special purpose acquisition company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition opportunity in any industry or geographic region, it intends to focus on a U.S. business in the technology-enabled business services (including healthcare and education) or financial services sectors.  The majority member of OCA's sponsor is Olympus Capital Asia V, L.P., the fifth pan-Asia private equity fund advised by Olympus Capital Asia, one of the longest standing middle market private equity firms in Asia with a 20+ year history of investing in the region.  OCA intends to acquire a business which will benefit from Olympus Capital's extensive industry network and experience helping companies expand in Asia. 

Forward-Looking Statements

This press release may include, and oral statements made from time to time by representatives of the Company may include, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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SOURCE OCA Acquisition Corp.

FAQ

Why was the special meeting of stockholders for OCAX adjourned?

The special meeting was adjourned to allow more time for stockholders to vote on the proposed extension of the deadline to complete the initial business combination.

When is the rescheduled special meeting for OCA Acquisition Corp?

The rescheduled special meeting is set for January 19, 2023, at 9:00 a.m. Eastern Time.

What is the purpose of the special meeting held by OCAX?

The purpose of the special meeting is to vote on proposals related to extending the deadline for completing the company's initial business combination.

What does OCA Acquisition Corp. focus on for acquisitions?

OCA Acquisition Corp. primarily focuses on acquiring businesses in technology-enabled business services and financial services sectors.