OceanTech Acquisitions I Corp. (OTECU) Prices $100M IPO


OceanTech Acquisitions I Corp. (OTECU) Prices $100M IPO

OceanTech Acquisition I Corp. announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “OTECU” Friday, May 28.

The new SPAC aims to combine with a target valued at $250 million to $1 billion in the leisure marine, yachting or super-yachting industries. OceanTech is led by CEO Joseph Adir, CFO Charles Baumgartner, CTO Ofer Oz, and COO Ken Hickling.

Total SPAC deal count for 2021 year-to-date is now 330. This offering is expected to close on Wednesday, June 2.

Maxim Group LLC is acting as sole book-running manager for the offering. Mintz Levin Cohn Ferris Glovsky and Popeo PC is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor.  Continental Stock Transfer & Trust Company is acting as trustee.