Item 5. Market for Registrant’s Common Equity
ITEM 5.
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our equity securities trade on the Nasdaq. Each of our units consists
of one Class A ordinary share and one warrant and, commencing on September 3, 2021, trades on the Nasdaq under the symbol “OXUSU.”
The Class A ordinary shares and warrants underlying our units began trading separately on the Nasdaq under the symbols “OXUS”
and “OXUSW,” respectively, on October 6, 2021.
Holders of Record
On March 4, 2022, there were 1 holder of record of our units and 3
holders of record of our Class A ordinary shares and 6 holders of record of our warrants. Such numbers do not include beneficial owners
holding our securities through nominee names.
Dividends
We have not paid any cash dividends on our ordinary shares to date
and do not intend to pay cash dividends prior to the completion of our initial business combination. The payment of cash dividends in
the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to
completion of our initial business combination. The payment of any cash dividends subsequent to our initial business combination will
be within the discretion of our board of directors at such time. In addition, our board of directors is not currently contemplating and
does not anticipate declaring any share dividends in the foreseeable future. Further, if we incur any indebtedness in connection with
our initial business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection
therewith.
Use of Proceeds from our Initial Public Offering
On September 8, 2021, the Company consummated the initial public offering
of 15,000,000 units at $10.00 per unit and the sale of 8,400,000 private warrants at a price of $1.00 per
private warrant in a private placement to the Company’s sponsor and its underwriters that closed simultaneously with the closing
of the initial public offering. On September 13, 2021, the underwriters exercised their over-allotment
option in full, according to which the Company consummated the sale of an additional 2,250,000 units, at $10.00 per unit,
and the sale of an additional 900,000 private warrants, at $1.00 per private warrant, generating total gross proceeds of
$23.40 million.
A total of $175,950,000 of the net proceeds from the initial public
offering (including the additional units) and the sale of private placement warrants and additional private placement warrants was deposited
in a trust account with Continental Stock Transfer & Company as trustee (“Trust Account”), established for the benefit
of the Company’s public stockholders. Transaction costs amounted to $3.70 million
consisting of $3.00 million in cash of underwriting fees and $0.70 million of other offering costs.
For a description of the use of the proceeds generated in our initial
public offering, see Part II, Item 7 of this Annual Report.
ITEM 6. [RESERVED]
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