In a bold double-header marking the continued revival of the SPAC market, Oxley Bridge Acquisition Ltd. and LightWave Acquisition Corp. debuted on the Nasdaq Wednesday, raising a combined $408 million in fresh capital with their respective IPOs. The twin launches underscore a sharp rebound in special-purpose acquisition company (SPAC) activity as investor appetite rekindles for high-growth, tech-driven ventures.
Oxley raised $220 million by offering 22 million units at $10 apiece, while LightWave pulled in $187.5 million from the sale of 18.75 million units, also priced at $10 each. Both companies now join a growing roster of SPACs capitalizing on favorable 2025 market conditions after a sluggish multiyear slump.
Oxley Targets Tech Titans in Asia — Minus China
Vancouver-based Oxley Bridge Acquisition, helmed by seasoned SPAC operator Jonathan Lin, is gunning for deals in the global consumer and technology space — especially businesses with “disruptive growth potential” in Asia, excluding China. Lin, who co-founded private equity firm L2 Capital, brings a track record of steering SPACs through complex market terrain.
Oxley is legally incorporated in the Cayman Islands, a standard SPAC play, with legal guidance from Ellenoff Grossman & Schole LLP and offshore counsel Ogier LLP. DLA Piper LLP, led by Stephen Alicanti, is advising underwriter Cantor Fitzgerald & Co.
