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NEW YORK, May 23, 2022–(BUSINESS WIRE)–OceanTech Acquisitions I Corp. (“OceanTech” or the “Company”) (Nasdaq: OTECU), a special targets acquisition company, announced today that it will extend the within a consistent period of time it has to complete its initial business combination within six months, from June 2, 2022 through December 2, 2022 (the “Extension”). OceanTech Acquisitions I Sponsors LLC (the “Sponsor”), has notified the Company of its goal to acquire 1,548,900 personal placement certificates at $1. 00 consisting of the deposit by depositing a total of $1,548,900 (representing $0. 15 in the public stake) into the Company’s acceptance account by June 2, 2022, which allows the extension. The Company will announce the final deposit of $1,548,900 into the Company’s true acceptance account until the deadline of June 2, 2022. The extension is legal according to the governing documents of the Corporation.
Acquisitions of OceanTech I Corp.
OceanTech Acquisitions I Corp. es a newly organized blank check company with the goal of achieving a merger, capital exchange, asset acquisition, percentage purchase, reorganization, or similar business combination with one or more corporations. While you may pursue an initial goal of business mixes in any company, industry, or geographic location, you intend to conduct your studies on target corporations in the recreational marine, sailing, and superyacht sectors, and with corporate values of approximately $250 million to $1. 0 billion. The company is sponsored through OceanTech Acquisitions I Sponsors LLC, a subsidiary of investor and entrepreneur Joseph Adir.
Cautionary Note On Forward-Looking Statements
This press release comprises emails that constitute “forward-looking statements,” and are aggregated with respect to the proposed initial public offering and the intended use of net income. It cannot be guaranteed that the offer described above will be made under the situations described, or are not described at all, or that the net proceeds from the offer will be used as indicated. in the Risk Factors segment of the Company’s registration and the Company’s initial offering prospectus filed with the SEC. Copies of those documents can be obtained from the SEC’s website, www. sec. gov. The Company assumes no legal responsibility to update those s for revisions or adjustments subsequent to the date of this release, unless required by law.
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Contacts
Investor RelationsLena CatiThe Equity Group, Inc. (212) 836-9611lcati@equityny. com