Oaktree Acquisition Corp. II
OACB · NYSE
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from Percentage of Voting Control Oaktree Acquisition Holdings II, L.P., listed on NYSE in September 2020.
- What it's doing now
- It agreed in May 2022 to buy Alvotech, a Biopharmaceutical company developing biosimilar medicines company. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Alvotech
- Industry
- Biopharmaceutical company developing biosimilar medicines
- Deal value
- not stated in the filings we hold
- announced 10 May 2022
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 18 September 2020
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- C/O OAKTREE CAPITAL MANAGEMENT, L.P., LOS ANGELES, CA, 90071
- registered in the Cayman Islands
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Wong Andrea L (Director) · McCaney Patrick (Chief Executive Officer) · GRILLO ANTHONY (Director)
- Listed securities
- OACB common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
2 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 18 September 2020IPOpassed
IPO size not on file
- 10 May 2022Deal announcedpassed
Combination with Alvotech
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- Alvotech— · announced 10 May 2022closedpost-close ALVOSEC primary
The score
deterministic, from filed fieldsOACB is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 295 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Oaktree Acquisition Corp. II was a blank-check company whose common stock traded on the New York Stock Exchange under the ticker OACB. The company priced its initial public offering on September 18, 2020, as reflected in 424B prospectus 0001193125-20-249113, and was assigned SEC SIC industry code 6770 (Blank Checks) under CIK 0001820931. The ticker OACB appears on the cover page of 8-K 0001193125-22-164102, filed May 31, 2022. The company's lifecycle is closed: it completed a business combination and no longer files, a status established by 425 filing 0001193125-22-167463 dated June 3, 2022.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
The closing condition stacks three sources of cash, trust, PIPE and more than $90 million of debt financing to Alvotech, which means redemptions alone need not break the deal but a shortfall in any leg can. Holders redeem at about $10.00, essentially deposited value, and the proxy notes there is no assurance the parties would waive the condition if it fails. Those who stay take equity in a biosimilars developer that is arriving already leveraged by the debt financing counted toward its own closing test.
A quarter of a warrant per unit needs four units for one exercisable warrant, so the warrant overhang is half that of a one-half structure. Two redemptions are stated: the $0.01 call once the closing price reaches $18.00 for 20 of 30 trading days, and a second once the reported closing price reaches only $10.00 on the SINGLE trading day before the notice. Amending the public warrants adversely takes 50% of them, so the instrument is easier to change against holders than at the peers that require 65%.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
- What changed vs 2021-11-15trust $250.0M → $250.1M +0%
trust account, going-concern doubt, redeemable shares1 moved · 2 with no prior record of ours
- Trust account
- $250.0M$250.1M
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 25.0M · unchanged
SpacBrain reads this as $52,387 was added to the trust between the two filings.
The clause …“expenses 126,250 100,000 Total current assets 632,169 687,171 Investments held in Trust Account 250,059,306 250,034,128 Total assets $ 250,691,475 $ 250,721,299 Liabilities, Class A Ordinary Shares Subject to Possible Redemption and”…
The clause …“expenses. 11 Table of Contents In connection with the Company’s assessment of going concern considerations in accordance with the FASB’s ASC Topic 205-40, “Basis of Presentation – Going Concern,” management has determined that the level”…
The clause …“future events. Accordingly, as of March 31, 2022 and December 31, 2021, 25,000,000 Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Oaktree Acquisition Corp. II called an extraordinary general meeting at 10:00 a.m. Eastern to approve the business combination agreement dated December 7, 2021 with Alvotech. The meeting may be adjourned if redemptions leave OACB with less than $5,000,001 of net tangible assets, or if aggregate trust cash after redemptions plus PIPE financing proceeds plus proceeds in excess of $90,000,000 of debt financing advanced to Alvotech fall short of the closing condition. As of the March 22, 2022 record date, redemption would have amounted to approximately $10.00 per Class A ordinary share. Why it matters: The closing condition stacks three sources of cash, trust, PIPE and more than $90 million of debt financing to Alvotech, which means redemptions alone need not break the deal but a shortfall in any leg can. Holders redeem at about $10.00, essentially deposited value, and the proxy notes there is no assurance the parties would waive the condition if it fails. Those who stay take equity in a biosimilars developer that is arriving already leveraged by the debt financing counted toward its own closing test.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Percentage of Voting Control Oaktree Acquisition Holdings II, L.P.named as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1280 tracked SPACs (24%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W/4 · 100.0% of the $10 unit
from 424B4 0001193125-20-249113
Trading & liquidity
Company profile
Directors & officers
- Wong Andrea LDirector
- McCaney PatrickChief Executive Officer
- GRILLO ANTHONYDirector
- Pendo MathewChief Operating Officer
- MEISTER PAUL MDirector
- Pardesi ZaidSee Remarks
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
3 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- Oaktree Acquisition Holdings II, L.P.with 7 other reporting persons on the same schedule20.0% · SC 13GFeb 16, 2021 stale
- MILLENNIUM MANAGEMENT LLCwith 1 other reporting person on the same schedule5.3% · SC 13GFeb 16, 2022 stale
- INTEGRATED CORE STRATEGIES (US) LLCwith 4 other reporting persons on the same schedule2.0% · SC 13G/AFeb 7, 2022 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
38 full SEC filing texts archived — searchable, never lost.
- Vault note — OACB (Oaktree Acquisition Corp. II)
vault-note · /vault/tickers/OACB
- Vault deal note — Alvotech (OACB)
vault-note · /vault/deals/alvotech
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail5 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001193125-20-249113 priced 2020-09-18; common ticker OACB off 8-K 0001193125-22-164102 (2022-05-31); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per 425 0001193125-22-167463 (2022-06-03) — rently expected to begin on or about June 16, 2021 under the ticker symbols “ALVO” and “ALVOW,” respectively. Until the Business Combination has been consummated and the transfer to Nasdaq is complete, OACB’s units, public shares and public warrants will continue to trade on the NYSE. OACB will not have any units traded following the Closing Date. A copy of the press relea. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "Percentage of Voting Control Oaktree Acquisition Holdings II, L.P." sourced from prospectus definition (10-K/A) acc 0001193125-21-165737.
AI-extracted target (z-ai/glm-5.2, conf 0.95)
target recovered for a completed de-SPAC
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read