OCEANLIGHT ACQUISITION CORPORATION OCLT.US

OceanLight Acquisition Corporation is a special purpose acquisition company (SPAC) formed in the Cayman Islands with the purpose of effecting mergers, share exchanges, asset acquisitions, share purchases, reorganizations or similar business combinations with one or more target businesses.

Its securities - units, ordinary shares, rights, and warrants - are listed on Nasdaq, and it raised proceeds through an initial public offering (IPO) of units priced at US$10.00 each, each unit including an ordinary share, a right to ¼ of an ordinary share upon a business combination, and a redeemable warrant.

OceanLight entered into a definitive agreement to merge with AIRE Inc., a company operating in the home textile and green sleep technology sector. AIRE's business centers on developing and commercializing sleep-related products using environmentally friendly advanced materials, alongside a textile trading business, particularly focusing on growth in the United States.

The transaction values AIRE at a company net value of US$1.0 billion. Following completion of the merger, OceanLight will cease to be a pure blank check vehicle and instead operate through AIRE's existing businesses.

The combined company will continue AIRE's core operations in home textiles and green sleep technology with an emphasis on sustainable materials. OceanLight's completed IPO has established the structure and financial foundation to support AIRE's public operations in this domain.