OCA Acquisition Corp. Announces Pricing of $130 Million Initial Public Offering Thursday, January 14, 2021
OCA Acquisition Corp. announced the pricing of its initial public offering (IPO) of 13,000,000 units at $10.00 per unit, with shares set to trade on Nasdaq under the ticker symbol 'OCAXU' starting January 15, 2021. Each unit comprises one share of Class A common stock and one-half of a redeemable warrant, with full warrants priced at $11.50 per share. The offering is expected to close on January 20, 2021, and includes an over-allotment option of up to 1,950,000 additional units. The Company aims to pursue a business combination primarily in technology-enabled business services or financial services sectors.
- Successful IPO pricing of 13,000,000 units at $10.00 each.
- Potential to raise additional capital through the over-allotment option of 1,950,000 units.
- Focus on sectors with growth opportunities, including technology-enabled business services.
- Dependence on market conditions for successful completion of the offering.
- No assurance of timely completion or terms of the Business Combination.
New York, NY , Jan. 14, 2021 (GLOBE NEWSWIRE) -- OCA Acquisition Corp. (the "Company" or "OCA"), a special purpose acquisition company, today announced the pricing of its initial public offering of 13,000,000 units at a price of
Each unit issued in the offering consists of one share of the Company's Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of
Stifel and Nomura are acting as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option from the date of the final prospectus to purchase up to an additional 1,950,000 units at the initial public offering price to cover over-allotments, if any.
A registration statement relating to the securities became effective on January 14, 2021. The offering is being made only by means of a prospectus, which forms a part of the registration statement. Copies of the prospectus may be obtained, when available, for free by visiting EDGAR on the Securities and Exchange Commission (the "SEC") website at www.sec.gov. Alternatively, copies may be obtained, when available, from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One South Street, 15th Floor, Baltimore, Maryland 21202, email: syndprospectus@stifel.com, or by telephone: (855) 300-7136 and Nomura Securities International, Inc., Attention: Equity Syndicate Department, Worldwide Plaza, 309 West 49th Street, New York, New York 10019-7316, or by telephone at 212-667-9000, or by email at equitysyndicateamericas@nomura.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About OCA Acquisition Corp.
OCA Acquisition Corp. is a newly formed blank check 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 (the "Business Combination"). 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. 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.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and search for a Business Combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. 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 preliminary prospectus filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
OCA Media Contact:
Corliss Ruggles, Communications Adviser
corliss.ruggles@gmail.com
OCA Investor Relations Contact:
Humberto Galleno, Corporate & Business Development
hgalleno@olympuscap.com
SOURCE: OCA Acquisition Corp.
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