NEW YORK, Aug.  24, 2026  (GLOBE NEWSWIRE) -- OceanLight Acquisition Corporation (NASDAQ:OCLTU, the &#34;Company&#34;)) announced today that the underwriters of its recently announced initial public offering exercised

OCLT

OceanLight Acquisition Corporation Announces Exercise of Over-Allotment Option

OceanLight expands IPO with over-allotment, boosting SPAC liquidity

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>NEW YORK, Aug.  24, 2026  (GLOBE NEWSWIRE) -- OceanLight Acquisition Corporation (NASDAQ:OCLTU, the &amp;#34;Company&amp;#34;)) announced today that the underwriters of its recently announced initial public offering exercised</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>OceanLight Acquisition Corporation disclosed that underwriters exercised their over-allotment for 1.5M additional units, bringing total units to 11.5M. The closing is expected August 24, 2026, increasing cash and potential float ahead of a future business combination. Actual value depends on deal timing and terms, not the unit price alone.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Underwriters exercised over-allotment for 1.5M units.</li><li>Total units now 11.5M; closing expected Aug 24, 2026.</li><li>Units began trading as OCLTU. Post-separation listings expected for OCLT, OCLTR, OCLTW.</li><li>SPAC OceanLight targets a business combination; forward-looking statements remain.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>OceanLight Acquisition Corporation (OCLTU)</strong>: SPAC unit over-allotment increases units and potential proceeds ahead of business combination.</li><li><strong>OceanLight Acquisition Corporation (OCLT)</strong>: Ordinary shares expected to list upon unit separation; value depends on deal timing.</li><li><strong>OceanLight Acquisition Corporation (OCLTR)</strong>: Rights to receive 1/4 share at business combination; value tied to the split and deal.</li><li><strong>OceanLight Acquisition Corporation (OCLTW)</strong>: Warrants exercisable at $11.50; sensitivity to share price and deal prospects.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. Fits as it reports SPAC financing activity, unit economics, and listing mechanics tied to a potential business combination.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Over-allotment closure adds ~1.5M units to float, potentially boosting liquidity.</li><li>Separate trading of OCLT, OCLTR, OCLTW could unlock value if a deal advances.</li><li>SPAC IPO proceeds may fund initial business combination, impacting valuation risk/reward.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Total units after over-allotment: 11,500,000.</li><li>Public offering price: $10.00 per unit.</li><li>Warrant exercise price: $11.50 per share.</li><li>Units began trading August 7, 2026 under symbol OCLTU.</li><li>Post-separation listings expected for OCLT, OCLTR, OCLTW.</li><li>Over-allotment closing date expected August 24, 2026.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near-term upside for OCLT-related securities as over-allotment closes, subject to deal timing.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>NEW YORK, Aug.  24, 2026  (GLOBE NEWSWIRE) -- OceanLight Acquisition Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/OCLTU">OCLTU</a>, the "Company")) announced today that the underwriters of its recently announced initial public offering exercised their over-allotment option to purchase an additional 1,500,000 units at the public offering price of $10.00 per unit, bringing the total units sold to 11,500,000. The closing of the over-allotment option is expected to occur on August 24, 2026, subject to the satisfaction of customary closing conditions.</p>  <p>Each unit consists of one ordinary share, one right to receive one-fourth (1/4) of one ordinary share upon the consummation of the Company’s initial business combination, and one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one ordinary share at an exercise price of $11.50 per share, subject to adjustment. The units are listed on The Nasdaq Global Market ("Nasdaq") and began trading under the ticker symbol "OCLTU" on August 7, 2026. Once the securities comprising the units begin separate trading, the ordinary shares, rights and warrants are expected to be listed on Nasdaq under the symbols "OCLT," "OCLTR," and "OCLTW," respectively.</p>  <p>Polaris Advisory Partners LLC, a division of Kingswood Capital Partners LLC, served as the sole book-running manager for the offering.</p>  <p>Celine and Partners, P.L.L.C. served as legal counsel to the Company. O’Melveny &amp; Myers LLP served as legal counsel to Polaris Advisory Partners LLC. OceanLight Capital Sponsor Ltd. is the sponsor of the Company.</p>  <p>A registration statement on Form S-1 relating to the securities (File No. 333-296802) was previously filed with the Securities and Exchange Commission ("SEC") and was declared effective by the SEC on August 7, 2026. This offering was made only by means of a prospectus forming part of the effective registration statement. Copies of the prospectus may be obtained on the SEC’s website at http://www.sec.gov. Copies of the prospectus may also be obtained, when available, by contacting Kingswood Capital Partners, LLC, 126 East 56th Street, Suite 22S, New York, NY 10022, by calling 212-487-1080, or by emailing Syndicate@kingswoodUS.com.</p>  <p>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.</p>  <p><strong>About OceanLight Acquisition Corporation</strong></p>  <p>The Company is a blank check company incorporated in the Cayman Islands as an exempted company with limited liability 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’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region. The Company is led by Mr. Ping Zhang, the Company’s Chairman, Chief Executive Officer and Chief Financial Officer.</p>  <p><strong>Forward-Looking Statements</strong></p>  <p>This press release contains statements that constitute "forward-looking statements," including with respect to the Company’s search for an initial business combination and the anticipated use of the net proceeds of the offering. 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 IPO 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.</p>  <p>Contact:<br></br>Ping Zhang<br></br>Chief Executive Officer<br></br>OceanLight Acquisition Corporation<br></br>(212) 574-4425</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgxNTE0NCM3ODAwNzY0IzUwMDE2NjI5MA=="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MWIzZjQyZmItZTA2NS00YWQzLTg1YTMtNDQ3ZjdjYjViZjBkLTUwMDE2NjI5MC0yMDI2LTA4LTI0LWVu/tiny/OceanLight-Acquisition-Corpora.png" referrerpolicy="no-referrer-when-downgrade"></img>

OceanLight Acquisition Corporation disclosed that underwriters exercised their over-allotment for 1.5M additional units, bringing total units to 11.5M. The closing is expected August 24, 2026, increasing cash and potential float ahead of a future business combination. Actual value depends on deal timing and terms, not the unit price alone.

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OceanLight Acquisition Corporation Announces Exercise of Over-Allotment Option

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Key facts

Corporate Developments