OCA Acquisition Corp. announced a private placement to issue non convertible promissory note for the gross proceeds of $90,000 on December 13, 2023. The transaction included participation from returning investor OCA Acquisition Holdings LLC.

This deposit enables the Company to extend the date by which it must complete its initial business combination from December 20, 2023 to January 20, 2024. The Extension is the final one-month extension permitted under the Company?s amended and restated certificate of incorporation and provides the Company with additional time to complete its initial business combination. The Note does not bear interest and matures upon closing of the Company?s initial business combination.

In the event that the Company does not consummate an initial business combination, the Note will be repaid only from funds remaining outside of the Company?s trust account, if any, or will be forfeited, eliminated.