OPY Acquisition Corp. I Announces Launch of $100 Million Initial Public Offering

Rhea-AI Summary

OPY Acquisition Corp. I has launched its initial public offering (IPO) roadshow, planning to sell 10 million units at $10.00 each. Each unit includes one share of Class A common stock and one-half of a redeemable warrant. The warrants allow purchasing additional shares at $11.50. The units will trade on Nasdaq under the ticker symbol OHAAU. Oppenheimer & Co. Inc. and Lake Street Capital Markets are the offering's joint book-running managers. The IPO is subject to SEC approval and market conditions.

Positive

• Initial public offering of 10 million units at $10.00 each may attract significant investor interest.
• Potential for revenue generation upon successful completion of the IPO.
• Strategic focus on the life sciences industry, particularly novel therapeutics and medical devices.

Negative

• IPO dependent on SEC approval and market conditions, which introduces uncertainty.
• Possible dilution of shares if warrants are exercised at $11.50 per share.

NEW YORK--(BUSINESS WIRE)-- OPY Acquisition Corp. I (the “Company”), a blank check company incorporated as a Delaware corporation, today announced that it has launched the roadshow for its initial public offering of 10,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one share of Class A common stock of the Company and one-half of one redeemable warrant. Each whole warrant will entitle the holder thereof to purchase one share of Class A common stock at $11.50 per share. The units are expected to trade on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “OHAAU.”

Oppenheimer & Co. Inc. and Lake Street Capital Markets are acting as joint book-running managers for the offering.

The offering is being made only by means of a prospectus. When available, copies of the preliminary prospectus relating to this offering may be obtained from Oppenheimer & Co. Inc., 85 Broad Street, 26th Floor, New York, NY 10004, Attn: Syndicate Prospectus Department, telephone: (212) 667-8055 or by email at EquityProspectus@opco.com, or by accessing the SEC’s website, www.sec.gov.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet been declared effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement has been declared effective.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About OPY Acquisition Corp. I

OPY Acquisition Corp. I is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The Company will not be limited to any particular industry or geographic region, although it initially intends to pursue targets in the life sciences industry with a primary focus on novel therapeutics, medical devices or services that help improve healthcare outcomes.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering (“IPO”) and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of OPY Acquisition Corp. I, including those set forth in the Risk Factors section of OPY Acquisition Corp. I’s registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. OPY Acquisition Corp. I undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211025005724/en/

OPY Acquisition Corp. I

Jonathan B. Siegel

Chairman and Chief Executive Officer

info@opyacq.com

Source: OPY Acquisition Corp. I

FAQ

What is the offering price for OPY Acquisition Corp. I's IPO?

The offering price for OPY Acquisition Corp. I's IPO is $10.00 per unit.

What does each unit consist of in OPY Acquisition Corp. I's IPO?

Each unit consists of one share of Class A common stock and one-half of a redeemable warrant.

When will OPY Acquisition Corp. I's units begin trading?

The units are expected to trade on Nasdaq under the ticker symbol OHAAU.

Who is managing the IPO for OPY Acquisition Corp. I?

Oppenheimer & Co. Inc. and Lake Street Capital Markets are the joint book-running managers for the IPO.

Is the registration statement for OPY Acquisition Corp. I's IPO effective?

No, the registration statement for these securities has been filed but not yet declared effective.