E-commerce and logistics SPAC Ocelot Acquisition I lowers deal size by 20% ahead of $200 million IPO

Ocelot Acquisition I, a blank check company backed by Ocelot Capital focused on , transportation, and logistics, lowered the proposed deal size for its upcoming on Wednesday.

The Austin, TX-based company now plans to raise $200 million by offering 20 million units at a price of $10. The company had previously filed to offer 25 million units at the same price. Each unit still consists of share of common stock and one-half of a warrant, exercisable at $11.50. At the revised deal size, Ocelot Acquisition I will raise -20% less in proceeds than previously anticipated.

The company is led by CEO and Director , who currently serves as the CEO of network-based parcel delivery and carrier Lone Star Overnight, and CFO and Chairman Andrew Townsend, the founder and Managing Member of . The company plans to leverage its management team’s experience and  the e-commerce, transportation and logistics, and logistics technology industries.

Ocelot Acquisition I was founded in 2020 and plans to list on the Nasdaq under the symbol OACAU. BMO Capital Markets and are the joint bookrunners on the deal.

Source: Renaissance Capital – E-commerce and logistics SPAC Ocelot Acquisition I lowers deal size by 20% ahead of $200 million IPO