CHEVY CHASE, Md., Dec. 9, 2021 /PRNewswire/ -- Blue Ocean
Acquisition Corp (the "Company") today announced that, in
connection with its previously announced public offering of
16,500,000 units (the "Initial Units"), the underwriter has fully
exercised its option to purchase an additional 2,475,000 units
("Additional Units") at a price of $10.00 per unit for additional gross proceeds to
the Company of $24,750,000. The
issuance and sale of the Additional Units closed today. The sale of
the Initial Units and the Additional Units resulted in aggregate
gross proceeds to the Company of $189,750,000.
The Company's units began trading on the Nasdaq Global Market
("Nasdaq") under the ticker symbol "BOCNU" on December 3, 2021. Each unit consists of one Class
A ordinary share of the Company and one-half of one redeemable
warrant. Each whole warrant entitles the holder thereof to purchase
one Class A ordinary share of the Company at a price
of $11.50 per share. Once the securities comprising the
units begin separate trading, the Class A ordinary shares and
warrants are expected to be listed on Nasdaq under the symbols
"BOCN" and "BOCNW" respectively.
The Company, led by Chairman Marcus Brauchli and
CEO Paul Bascobert, is a newly organized blank-check company
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. While the
Company may pursue an investment opportunity in any business or
industry, it intends to focus its search for a target business or
businesses in the digital media and consumer internet industries.
The management team includes Ankur
Manglik as Chief Strategy Officer and Chief Financial
Officer and Sean Glodek as Vice
President.
Marcus Brauchli serves as
Chairman of the Company's board of directors, and Norman Pearlstine, Joel
Motley, Matt Goldberg,
Priscilla Han, and Dale Mathias serve as directors, in addition to
Mr. Bascobert, Mr. Manglik and Mr. Glodek.
Needham & Company acted as Sole Book-Running Manager for the
offering.
A registration statement relating to the securities became
effective on December 2, 2021, in accordance with Section
8(a) of the Securities Act of 1933, as amended. The offering is
being made in the United States only by means of a
prospectus. Copies of the prospectus relating to the offering, when
available, may be obtained by contacting Needham & Company,
LLC, Attention: Prospectus Department, 250 Park Avenue, 10th
Floor, New York, NY 10177, by telephone at 800-903-3268
or by email at prospectus@needhamco.com. Copies of the
registration statement and the prospectus relating to this
offering, when available, may also be obtained for free by visiting
EDGAR on the Securities and Exchange Commission's (the "SEC")
website at www.sec.gov.
This press release does 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 offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Blue Ocean Acquisition Corp
The Company is a blank-check company sponsored by an affiliate
of North Base Media, a global venture-capital firm specialized in
media and formed for the purpose of entering into a merger, capital
stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses or
entities. The Company intends to focus its search for business
combination targets on Internet, digital media and advertising, or
marketplace businesses, although it may pursue an acquisition in
any industry or sector.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the closing
of the proposed initial public offering and the anticipated use of
the net proceeds. 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, risks and changes in circumstances, 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 for the Company's offering 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.
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SOURCE Blue Ocean Acquisition Corp.