Oaktree Acquisition Corp. II Announces Closing of Initial Public Offering and Partial Exercise of Overallotment Option

LOS ANGELES--(BUSINESS WIRE)--Oaktree Acquisition Corp. II, (the “Company”), a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the closing of its initial public offering of 25,000,000 units, which includes the exercise in part by the underwriters of their overallotment option to purchase up to an additional 3,375,000 units. Total gross proceeds from the offering were $250 million before deducting underwriting discounts and commissions and other offering expenses payable by Oaktree Acquisition Corp. II. The units began trading on The New York Stock Exchange on September 17, 2020, under the symbol “OACB.U.” Each unit consists of one Class A ordinary share of the Company and one-fourth of one warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols “OACB” and “OACB WS,” respectively.