OceanTech Acquisitions I registered with the SEC to offer 10 million units, each consisting of one share of our Class A common stock and one half of one redeemable warrant. Whole warrants will be exercisable at $11.50.
The new SPAC in the S-1 filing said it will draw upon management’s experience in marine and IT industries to target a poetntial business combination.
OceanTech is led by CEO and Director Joseph Adir, who is also a director of Repositioning Investments Ltd., a boutique investment house that specializes in special situation corporation finance for the middle market. Since 2014, Adir has been focused on the superyachting industry.
The SPAC has applied for a listing on the Nasdaq under OTECU. Read more.
