ONTARIO, CANADA, March 23, 2023 (GLOBE NEWSWIRE) — Oak Woods Acquisition Corporation (the “Company”) announced today that it has priced its IPO of 5,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq and will begin trading tomorrow, March 24, 2023, under the ticker symbol “OAKUU.” Each unit consists of one Class A common share, one redeemable warrant and a right to receive one-sixth (1/6th) of one Class A common share upon the consummation of an initial business combination. Each redeemable warrant will entitle the holder to purchase one Class A common share at a price of $11.50 per share. Once the securities comprising the units are traded separately, the Class A common stock, rights and warrants will trade on the Nasdaq under the symbols “OAKUO”, “OAKUR” and “OAKUW”, respectively.
EF Hutton, a division of Benchmark Investments, LLC (“EF Hutton”), is acting as sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 750,000 units at the IPO price to cover any over-allotment. The offering is expected to close on March 28, 2023, subject to customary closing conditions.
The Company is a newly formed blank check corporation incorporated as a Cayman Islands Exempt corporation to undergo a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more companies. While not limited to any particular industry or geographic region for the purpose of consummating an initial business combination, the Company intends to focus on companies having their primary activity in the Asia Pacific technology-enabled healthcare services industry. The company is led by Lixin Zheng, Chief Executive Officer, Chief Financial Officer, Chairman and Director.
RAITI, PLLC is acting as legal counsel to the Company. Ortoli Rosenstadt LLP is acting as legal counsel to EF Hutton.
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The offer is made only by means of a prospectus. Copies of the prospectus, if available, are available from EF Hutton, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by phone at (212) 404-7002, by fax at (646) 861-4697 or by email at [email protected]
A registration statement on Form S-1 (File Number 333-269862) relating to these securities was filed with the Securities and Exchange Commission (“SEC”) on March 23, 2023 and declared effective with respect to this offering will be filed with the SEC. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor is there a sale of these securities in any country or jurisdiction in which such offer, solicitation or sale prior to registration or qualification would be unlawful under the securities laws of any such state or jurisdiction.
FORWARD LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s IPO. There can be no assurance that the offer 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 Company’s control, including those set forth in the “Risk Factors” section of the Company’s registration statement and the preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The company assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company contact:
Lixin Zheng
Chief Executive Officer, Chief Financial Officer, Chairman and Director
Oak Woods Acquisition Corp.
Email: [email protected]
Phone: (+1) 403-561-7750
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