OceanTech Acquisitions I Corp. to Combine with Majic Wheels Corp. (Majic Corp.)

November 15, 2022

OceanTech Acquisitions I Corp. and Majic Wheels Corp. entered into a definitive business combination agreement under which Majic Wheels will become a publicly listed company on Nasdaq. Upon closing, OceanTech will be renamed Majic Corp. with an expected transaction value of approximately $200 million and a forward share purchase backstop of up to $40 million by Meteora Capital Partners.

Buyers
OceanTech Acquisitions I Corp., Meteora Capital Partners
Targets
Majic Wheels Corp.
Location
United States
Transaction Type
Buyout

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