{"id":729004,"date":"2023-02-06T16:14:17","date_gmt":"2023-02-06T21:14:17","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/oceantech-acquisitions-i-corp-announces-termination-of-merger-agreement-with-majic-wheels-corp\/"},"modified":"2023-02-06T16:14:17","modified_gmt":"2023-02-06T21:14:17","slug":"oceantech-acquisitions-i-corp-announces-termination-of-merger-agreement-with-majic-wheels-corp","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/oceantech-acquisitions-i-corp-announces-termination-of-merger-agreement-with-majic-wheels-corp\/","title":{"rendered":"OceanTech Acquisitions I Corp. Announces Termination of Merger Agreement with Majic Wheels Corp."},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>OceanTech Acquisitions I Corp. Announces Termination of Merger Agreement with Majic Wheels Corp.<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nOceanTech Acquisitions I Corp. (\u201cOceanTech\u201d or the \u201cCompany\u201d) (Nasdaq: OTEC \/ OTECU \/ OTECW), a special purpose acquisition company, today announced that its previously announced agreement and plan of merger (the \u201cMerger Agreement\u201d) with Majic Wheels Corp. (\u201cMajic Wheels\u201d) has been terminated by mutual agreement of all relevant parties. As a result, OceanTech will seek an alternative business combination.\n<\/p>\n<p><b>About OceanTech Acquisitions I Corp.<\/b><\/p>\n<p>\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. OceanTech is sponsored by OceanTech Acquisitions I Sponsors LLC, an affiliate of investor and entrepreneur Joseph Adir.\n<\/p>\n<p><b>Cautionary Statement Regarding Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release contains statements that constitute \u201cforward-looking statements,\u201d including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. 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, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=53303899&amp;newsitemid=20230206005631&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=1&amp;md5=598c73fbe8816df566e96dcaa87c9857\">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><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230206005631r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230206005631\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230206005631\/en\/<\/a><\/span><\/p>\n<p>\nInvestor Relations<br \/>\n<br \/>Lena Cati<br \/>\n<br \/>The Equity Group, Inc.<br \/>\n<br \/>(212) 836-9611<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:lcati@equityny.com\">lcati@equityny.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230206005631\/en\/1114542\/3\/OTEC.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>OceanTech Acquisitions I Corp. Announces Termination of Merger Agreement with Majic Wheels Corp. NEW YORK&#8211;(BUSINESS WIRE)&#8211; OceanTech Acquisitions I Corp. (\u201cOceanTech\u201d or the \u201cCompany\u201d) (Nasdaq: OTEC \/ OTECU \/ OTECW), a special purpose acquisition company, today announced that its previously announced agreement and plan of merger (the \u201cMerger Agreement\u201d) with Majic Wheels Corp. (\u201cMajic Wheels\u201d) has been terminated by mutual agreement of all relevant parties. As a result, OceanTech will seek an alternative business combination. About OceanTech Acquisitions I Corp. OceanTech 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. OceanTech is sponsored by &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/oceantech-acquisitions-i-corp-announces-termination-of-merger-agreement-with-majic-wheels-corp\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;OceanTech Acquisitions I Corp. Announces Termination of Merger Agreement with Majic Wheels Corp.&#8221;<\/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-729004","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>OceanTech Acquisitions I Corp. Announces Termination of Merger Agreement with Majic Wheels Corp. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/oceantech-acquisitions-i-corp-announces-termination-of-merger-agreement-with-majic-wheels-corp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OceanTech Acquisitions I Corp. Announces Termination of Merger Agreement with Majic Wheels Corp. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"OceanTech Acquisitions I Corp. Announces Termination of Merger Agreement with Majic Wheels Corp. NEW YORK&#8211;(BUSINESS WIRE)&#8211; OceanTech Acquisitions I Corp. (\u201cOceanTech\u201d or the \u201cCompany\u201d) (Nasdaq: OTEC \/ OTECU \/ OTECW), a special purpose acquisition company, today announced that its previously announced agreement and plan of merger (the \u201cMerger Agreement\u201d) with Majic Wheels Corp. (\u201cMajic Wheels\u201d) has been terminated by mutual agreement of all relevant parties. As a result, OceanTech will seek an alternative business combination. About OceanTech Acquisitions I Corp. OceanTech 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. OceanTech is sponsored by &hellip; Continue reading &quot;OceanTech Acquisitions I Corp. 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