{"id":500194,"date":"2021-06-02T16:10:58","date_gmt":"2021-06-02T20:10:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/oceantech-acquisitions-i-corp-announces-closing-of-100-0-million-initial-public-offering\/"},"modified":"2021-06-02T16:10:58","modified_gmt":"2021-06-02T20:10:58","slug":"oceantech-acquisitions-i-corp-announces-closing-of-100-0-million-initial-public-offering","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/oceantech-acquisitions-i-corp-announces-closing-of-100-0-million-initial-public-offering\/","title":{"rendered":"OceanTech Acquisitions I Corp. Announces Closing of $100.0 Million Initial Public Offering"},"content":{"rendered":"

<\/p>\n

OceanTech Acquisitions I Corp. Announces Closing of $100.0 Million Initial Public Offering<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nOceanTech Acquisitions I Corp. (Nasdaq:OTECU) (\u201cOceanTech\u201d or the \u201cCompany\u201d) today announced the closing of its previously announced initial public offering of 10,000,000 units at a price of $10.00 per unit. The Company\u2019s units commenced trading on Friday, May 28, 2021 on the Nasdaq Capital Market (\u201cNasdaq\u201d) under the symbol \u201cOTECU.\u201d Each unit consists of one share of Class A common stock and one redeemable warrant. Each warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be traded on Nasdaq under the symbols \u201cOTEC\u201d and \u201cOTECW,\u201d respectively. The Company granted the underwriters a 45-day option to purchase up to 1,500,000 additional units at the initial public offering price to cover over-allotments.\n<\/p>\n

\nMaxim Group LLC acted as sole book-running manager for the offering.\n<\/p>\n

\nA registration statement relating to the securities was declared effective by the SEC on May 27, 2021. The offering was made only by means of a prospectus, copies of which may be obtained by contacting Maxim Group LLC, 405 Lexington Avenue, New York, New York 10174. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov<\/a>.\n<\/p>\n

\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\n<\/p>\n

About OceanTech Acquisitions I Corp.<\/b><\/p>\n

\nOceanTech Acquisitions I Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While it may pursue an initial business combination target in any business, industry or geographical location, it intends to focus its search on target businesses in the leisure marine, yachting and superyachting industries, and with enterprise values of approximately $250 million to $1.0 billion. The Company is sponsored by OceanTech Acquisitions I Sponsors LLC, an affiliate of investor and entrepreneur Joseph Adir.\n<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nThis press release contains statements that constitute \u201cforward-looking statements.\u201d Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company\u2019s registration statement and preliminary prospectus for the Company\u2019s offering filed with the SEC. Copies of these documents are available on the SEC\u2019s website, www.sec.gov<\/a>. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210602006006\/en\/<\/a><\/span><\/p>\n

Investor Relations
\n<\/b>
Lena Cati
\n
The Equity Group Inc.
\n
(212) 836-9611
\n
lcati@equityny.com<\/a><\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Sports Powerboating Finance Yachting Banking<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

OceanTech Acquisitions I Corp. Announces Closing of $100.0 Million Initial Public Offering NEW YORK–(BUSINESS WIRE)– OceanTech Acquisitions I Corp. (Nasdaq:OTECU) (\u201cOceanTech\u201d or the \u201cCompany\u201d) today announced the closing of its previously announced initial public offering of 10,000,000 units at a price of $10.00 per unit. The Company\u2019s units commenced trading on Friday, May 28, 2021 on the Nasdaq Capital Market (\u201cNasdaq\u201d) under the symbol \u201cOTECU.\u201d Each unit consists of one share of Class A common stock and one redeemable warrant. Each warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants … <\/p>\n

Continue reading “OceanTech Acquisitions I Corp. Announces Closing of $100.0 Million Initial Public Offering”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-500194","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nOceanTech Acquisitions I Corp. 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(Nasdaq:OTECU) (\u201cOceanTech\u201d or the \u201cCompany\u201d) today announced the closing of its previously announced initial public offering of 10,000,000 units at a price of $10.00 per unit. The Company\u2019s units commenced trading on Friday, May 28, 2021 on the Nasdaq Capital Market (\u201cNasdaq\u201d) under the symbol \u201cOTECU.\u201d Each unit consists of one share of Class A common stock and one redeemable warrant. Each warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants … Continue reading "OceanTech Acquisitions I Corp. 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