Majic Wheels Corp. Enters Definitive Merger Agreement with OceanTech Acquisitions I Corp. - Seite 3

Additional information about the proposed transaction, including a copy of the Merger Agreement, this press release, and an investor presentation, will be provided in a Current Report on Form 8-K to be filed by OceanTech with the SEC and available at www.sec.gov. More information about the proposed transaction will also be described in OceanTech’s proxy statement/prospectus relating to the business combination, which it will file with the SEC.

Advisors

Nelson Mullins Riley & Scarborough LLP is serving as legal advisor to OceanTech. Norton Rose Fulbright US LLP is serving as legal advisor to Majic Wheels.

About OceanTech Acquisition I Corp.

OceanTech Acquisitions I Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. OceanTech is sponsored by OceanTech Acquisitions I Sponsors LLC, an affiliate of investor and entrepreneur Joseph Adir. For more information about OceanTech, please visit their website at https://oceantechspac.com/ and their publicly available filings at www.sec.gov.

About Majic Wheels

Majic Wheels Corp., listed and traded on the Over-the-Counter Market (OTC) under the trading symbol “MJWL”, is a Wyoming holding corporation that operates through its subsidiary companies in advanced, disruptive industries like Fintech, Insurtech, software development, and crypto via thoughtful and varied acquisitions. For more information about Majic Wheels, please visit their website at https://majiccorp.co/.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

For additional information on the proposed transaction, see OceanTech’s Current Report on Form 8-K, which will be filed concurrently with this press release. In connection with the proposed transaction, the parties intend to file relevant materials with the Securities and Exchange Commission, including a registration statement on Form S-4 to be filed by OceanTech with the SEC, which will include a proxy statement/prospectus of OceanTech, and will file other documents regarding the proposed transaction with the SEC. OceanTech’s shareholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement and documents incorporated by reference therein filed in connection with the proposed business combination, as these materials will contain important information about Majic Wheels, OceanTech, and the proposed business combination. Promptly after the Form S-4 is declared effective by the SEC, OceanTech will mail the definitive proxy statement/prospectus and a proxy card to each shareholder entitled to vote at the meeting relating to the approval of the Business Combination and other proposals set forth in the proxy statement/prospectus. Before making any voting or investment decision, investors and stockholders of OceanTech are urged to carefully read the entire registration statement and proxy statement/prospectus, when they become available, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed transaction. The documents filed by OceanTech with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov, or by directing a request to OceanTech Acquisitions I Corp., 515 Madison Avenue, 8th Floor – Suite 8133, New York, New York, 10022 or [phone].