OceanTech Acquisitions I Corp. confirms financing to extend the completion period of the initial business combination


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NEW YORK–(BUSINESS WIRE)–OceanTech Acquisitions I Corp. (“OceanTech” or the “Company”) (Nasdaq: OTECU), a special purpose acquisition company, today announced that it has deposited $1,548,900 in the capital of the Company In Trust Account for its public shareholders, representing $0.15 per public share, allowing the Company to extend the period it has to complete its initial six-month business combination by six months, from June 2, 2022 to December 2, 2022 (the ” Extension “). The extension is authorized under the Company’s incorporation documents.

Caution Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements”, including with respect to the proposed initial public offering and the expected use of net proceeds. No guarantee can be given that the offer described above will be carried out on the terms described, or not at all, or that the net proceeds of the offer will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control, including those set forth in the Risk Factors section of the Company’s registration statement and the Company’s filed preliminary offering prospectus. with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Relations

Lena Cati

The Equity Group, Inc.

(212) 836-9611

[email protected]

Source: OceanTech I Corp Acquisitions.


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