Ocean Capital Acquisition net loss narrows 80% to $38,761 for year ended June 30, 2026
OCAC•Ocean Capital Acquisition reported a fiscal 2026 net loss of $38,761, down from $189,492 a year earlier. It must complete a business combination by June 10, 2027, and flagged substantial doubt about its ability to continue as a going concern.
1. Fiscal 2026 results
Ocean Capital Acquisition reported a net loss of $38,761 for the year ended June 30, 2026, compared with $189,492 a year earlier. General and administrative expenses were $265,286, while interest earned on marketable securities in its Trust Account totaled $226,525.
2. Trust and deadline
The company completed an initial public offering of 11.5 million units at $10 each, raising $115 million in gross proceeds, which it deposited into the Trust Account. Cash outside the Trust Account was $171,379 at June 30, 2026. Ocean Capital Acquisition must complete an initial business combination by June 10, 2027, and flagged substantial doubt about its ability to continue as a going concern.
