Sep 29, 4:30 PM ET
Harvard Ave Acquisition agrees to merge with OAG International in $300 million deal
Harvard Ave Acquisition Corporation, a blank check company (SPAC) listed on Nasdaq as HAVA, signed a business combination agreement on September 25, 2026 with OAG International Ltd, a provider of pipeline construction and integrity services. Under the deal, HAVA and OAG would each become wholly-owned subsidiaries of a newly formed holding company, PubCo, and HAVA shareholders would receive PubCo ordinary shares. The deal is subject to shareholder and regulatory approvals, and the filing states there is no assurance it will be completed.
- Total merger consideration is $300 million, based on OAG's valuation after an OAG restructuring
- HAVA and OAG must use reasonable best efforts to identify $30 million of equity financing within nine months after the second closing
- Closing requires HAVA and OAG shareholder approval, a minimum $10 million of trust account cash net of redemptions and transaction expenses, and Nasdaq listing approval for PubCo
- PubCo ordinary shares are expected to be listed on Nasdaq after closing