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Subsequent Events
6 Months Ended
Jun. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events

Note 9 — Subsequent Events

 

The Company evaluated subsequent events and transactions that occurred after the condensed balance sheet date up to the date that the condensed financial statements were issued. Based upon this review, other than outlined below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed financial statements.

 

In July 2022, Antara Capital acquired a majority economic, non-voting interest in the Company’s sponsor, OCA Acquisition Holdings LLC, an entity controlled by Olympus Capital Asia V, L.P. Antara Capital, founded by Himanshu Gulati in 2018, invests across a wide variety of financial instruments, including loans, bonds, convertible bonds, stressed/distressed credit and special situation equity investments.

 

On July 15, 2022, the Company’s board of directors elected to extend the date by which the Company has to consummate a business combination from July 20, 2022 to January 20, 2023. See Note 5 for further detail.

 

On July 20, 2022, the Sponsor had deposited an additional $747,500 (representing $0.05 per public share) into the Company’s trust account for its public stockholders. This deposit enables the Company to extend the date by which the Company has to complete its initial business combination from July 20, 2022 to January 20, 2023 (the “Extension”). The Extension provides the Company with additional time to complete its initial business combination.