Oceanhawk Acquisition II, the second blank check company backed by private investment firm OceanHawk, has filed with the SEC to raise up to $150 million in an initial public offering. The Houston-based SPAC plans to target U.S. businesses across industries, with its sponsor focused on building operating companies in essential industries.
Company Background
Oceanhawk Acquisition II is affiliated with OceanHawk, an outcome-driven private investment firm focused on building operating companies in essential industries. The SPAC was founded in 2025 and is based in Houston, Texas.
The company is led by CEO and Director Robert Cox, who most recently served as CIO and CFO of Houston family office Martin Commercial Interests. CFO and Director Michael Maggard is a partner at OceanHawk.
Oceanhawk Acquisition II is the sponsor’s second SPAC. Its first vehicle, Oceanhawk Acquisition, raised approximately $160 million in May and is currently searching for a merger target.
IPO Details
Oceanhawk Acquisition II plans to raise $150 million by offering 15 million units at $10 each.
Each unit consists of one share of common stock and one right to receive one-tenth of one ordinary share at the time of the business combination.
The SPAC plans to list on the Nasdaq under the symbol OHIIU. It filed confidentially on July 2, 2026.
StoneX Financial is serving as the sole bookrunner for the offering.
Market Context & Opportunities
Unlike sector-specific SPACs, Oceanhawk Acquisition II may target businesses across any industry, while intending to focus on U.S.-based companies. This broad mandate gives the SPAC flexibility to evaluate potential targets across multiple areas of the economy.
Its connection to OceanHawk also provides the vehicle with an established private investment platform focused on essential industries and operating businesses. The launch of a second SPAC indicates that the investment firm is continuing to pursue opportunities through the blank-check structure.
The first Oceanhawk vehicle’s ongoing search for a merger target provides an additional point of reference for OceanHawk’s broader SPAC strategy.
Risks & Challenges
The main uncertainty for Oceanhawk Acquisition II is that it has not yet identified a merger target. Investors therefore have limited visibility into the specific business, valuation, financial performance, and industry exposure that will ultimately determine the outcome of the SPAC.
The broad investment mandate provides flexibility but also means that the eventual transaction could involve a company from any industry. Execution will depend on the identification of a suitable U.S.-based business and the terms of the eventual combination.
The fact that OceanHawk’s first SPAC is still searching for a merger target also demonstrates that completing a business combination can take time following the initial IPO.
Closing Paragraph
Oceanhawk Acquisition II’s proposed $150 million IPO expands OceanHawk’s presence in the SPAC market and provides another vehicle for pursuing U.S.-based acquisition opportunities. Led by executives with private investment and operating experience, the company will have flexibility to evaluate businesses across industries while maintaining a focus on essential sectors. With no target identified yet, the eventual merger candidate and transaction terms will remain the central factors for investors following the SPAC.
