OceanLight is a special purpose acquisition company, or SPAC, formed to execute a merger, asset acquisition, or similar business combination with private businesses. OceanLight currently has no operations or revenues and maintains a broad mandate to identify a target company across any industry or geographic region. OceanLight seeks businesses with defensible competitive positions, strong management teams, and scalable intellectual property or brand equity. OceanLight’s business model involves holding initial public offering proceeds in a trust account while management searches for a suitable acquisition within a limited timeframe. If OceanLight fails to complete a transaction within this period, OceanLight must liquidate and return the trust funds to OceanLight's public shareholders. Chairman and CEO Ping Zhang leads OceanLight while simultaneously managing various other affiliated SPACs targeting similar market segments. This leadership structure creates potential conflicts of interest regarding how Ping Zhang allocates investment opportunities. OceanLight’s sponsor holds founder shares acquired at a nominal cost, providing a strong financial incentive to complete a business combination even if the terms are unfavorable to public shareholders. Public investors hold units comprising ordinary shares, warrants, and rights, which offer potential upside following a successful merger.