SUBSEQUENT EVENTS |
12 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | NOTE 10 – SUBSEQUENT EVENTS
Unit Separation
On July 29, 2026, the Company announced that holders of the units sold in its initial public offering may elect to separately trade the ordinary shares, rights, and warrants included in the units commencing on August 3, 2026. Each unit consists of one ordinary share, one right, and one warrant. Units not separated will continue to trade on the NYSE under the symbol “OCACU.” The separated ordinary shares, rights, and warrants will trade on the NYSE under the symbols “OCAC,” “OCACR,” and “OCACW,” respectively.
Board Changes
On August 14, 2026, Mr. Hin Wing (Simon) Wong resigned as a director of the Company, effective immediately. On the same date, Dr. Hiu Man (Elliott) Cheng resigned as a director and as Chairperson of each of the Audit Committee, the Corporate Governance and Nominating Committee, and the Compensation Committee, effective immediately. Neither resignation resulted from any disagreement with the Company on any matter relating to its operations, policies, or practices.
On August 16, 2026, the Company’s board of directors appointed Mr. Wei-Chieh Hao as an independent director and Chairperson of each of the Corporate Governance and Nominating Committee and the Compensation Committee, effective immediately. On August 18, 2026, the Company’s board of directors appointed Mr. Richard T. Betts as an independent director and Chairperson of the Audit Committee, effective immediately.
Change in Ownership of Sponsor
On September 17, 2026, pursuant to separate share transfer instruments, all of the issued and outstanding equity interests of SB Capital Holding Corporation, the Company’s Sponsor, were transferred to Chi-Ping Cindy Lee. Following the transfers, Ms. Lee owns 100% of the issued and outstanding equity interests of the Sponsor and exercises sole voting and dispositive power over the securities of the Company held by the Sponsor. The Sponsor remained the record holder of the same number of Company securities, and the Company was not a party to the transfers and received no consideration in connection therewith.
Independent Director Compensation Arrangements
On August 16, 2026 and August 18, 2026, the Company entered into independent director agreements with Wei-Chieh Hao and Richard T. Betts, respectively. Mr. Hao’s agreement does not provide for any equity award or other compensation prior to the consummation of the Company’s initial Business Combination. Pursuant to Mr. Betts’ agreement, subject to the consummation of the Company’s initial Business Combination and his continued service through the closing thereof, Mr. Betts is entitled to receive from the Sponsor a shareholder interest representing an indirect economic interest in insider shares held by the Sponsor.
The arrangement with Mr. Betts is accounted for under ASC Topic 718, “Compensation—Stock Compensation.” As the arrangement was entered into subsequent to June 30, 2026, no related share-based compensation expense was recognized for the year ended June 30, 2026. |