OCEANTECH ACQUISITIONS I CORP. : Entry into a Material Definitive Agreement, Unregistered Sale of Equity Securities, Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Other Events, Financial Statements and Exhibits (form 8-K)

Item 1.01. Entry into a Material Definitive Agreement.

On June 2, 2021, OceanTech Acquisitions I Corp. (the "Company") consummated its initial public offering (the "IPO") of 10,000,000 units ("Units"). Each Unit consists of one share of Class A common stock, $0.0001 par value per share ("Common Stock") and one redeemable warrant ("Public Warrant"), each whole Public Warrant exercisable into one share of Common Stock at an exercise price of $11.50 per share. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $100,000,000. Pursuant to the Underwriting Agreement, the underwriters in the IPO retain a 45-day option to purchase up to an aggregate of 1,500,000 additional Units to cover over-allotments, if any.

In connection therewith and the closing of the IPO, the Company entered into the following agreements previously filed as exhibits to the Registration Statement. On May 27, 2021, the Registration Statement (as defined below) was declared effective by the Securities and Exchange Commission.

· An Underwriting Agreement, dated May 27, 2021, by and between the Company and

Maxim Group LLC as representative of the several underwriters;

· An Investment Management Trust Agreement, dated May 27, 2021, by and between

   the Company and Continental Stock Transfer & Trust Company;

· A Warrant Agreement, dated May 27, 2021, by and between the Company and

Continental Stock Transfer & Trust Company;

· A Registration Rights Agreement, dated May 27, 2021, by and between the Company

   and the Sponsor (as defined below);

· A Letter Agreement, dated May 27, 2021, by and among the Company, its officers,

   its directors and the Sponsor;

· A Private Placement Warrant Purchase Agreement, dated May 27, 2021, by and

   between the Company and the Sponsor; and

· An Administrative Support Agreement, dated May 27, 2021, by and between the

   Company and the Sponsor.

The above descriptions are qualified in their entirety by reference to the full text of the applicable agreement, each of which is incorporated by reference herein and attached hereto as Exhibits 1.1, 10.1, 4.1, 10.2, 10.3, 10.4 and 10.5, respectively.

Item 3.02. Unregistered Sales of Equity Securities.

Simultaneously with the consummation of the IPO and the sale of the Units, the Company consummated the private placement ("Private Placement") of an aggregate 4,571,000 warrants ("Placement Warrants"), of which 3,871,000 Placement Warrants were purchased by OceanTech Acquisitions I Sponsors LLC (the "Sponsor") and 700,000 Placement Warrants were purchased by Maxim Group LLC (and/or its designees) at a price of $1.00 per Placement Warrant, generating total proceeds of $4,571,000. The Placement Warrants (and the underlying securities) are identical to the Public Warrants sold as part of the Units in the IPO, except as otherwise disclosed in the Registration Statement. No underwriting discounts or commissions were paid with respect to such sale. The issuance of the Placement Warrants was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

Item 5.03. Amendments to Certificate of Incorporation or Bylaws; Change in Fiscal Year.

On May 27, 2021, in connection with the IPO, the Company filed its Amended and Restated Certificate of Incorporation with the Secretary of the State of Delaware, effective the same day. The terms of the Amended and Restated Certificate of Incorporation are set forth in the Company's registration statement on Form S-1, as amended (File No. 333-255151) (collectively, the "Registration Statement"), and are incorporated herein by reference. A copy of the Amended and Restated Certificate of Incorporation is attached as Exhibit 3.1 hereto and incorporated herein by reference.

                                       2


Item 8.01. Other Events.

A total of $101,000,000 of the net proceeds from the IPO and the Private Placement were placed in a trust account established for the benefit of the Company's public stockholders at JPMorgan Chase Bank N.A., with Continental Stock Transfer & Trust Company acting as trustee. Except for the withdrawal of interest to pay taxes and interest to pay any dissolution expenses, none of the funds held in the trust account will be released until the earlier of (i) the completion of the Company's initial business combination, (ii) the redemption of any of the Company's public shares properly submitted in connection with a stockholder vote to amend the Company's amended and restated certificate of incorporation (a) to modify the substance or timing of its obligation to redeem 100% of the Company's public shares if it does not complete its initial business combination within 12 months (or up to 18 months if the Company extends the period of time to consummate a business combination by up to six months by resolution adopted by a majority of the Company's Board of Directors) from the closing of the IPO or (b) with respect to any other provision relating to stockholders' rights or pre-initial business combination activity and (iii) the redemption of 100% of the Company's public shares if it is unable to complete its initial business combination within 12 months (or up to 18 months if the Company extends the period of time to consummate a business combination by up to six months by resolution adopted by a majority of the Company's Board of Directors) from the closing of the IPO, subject to applicable law.

Copies of the press releases issued by the Company announcing the pricing of the IPO and the consummation of the IPO are included as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d)    Exhibits.



  1.1      Underwriting Agreement, dated May 27, 2021, by and between the Company
         and Maxim Group LLC

  3.1      Amended and Restated Certificate of Incorporation

  4.1      Warrant Agreement, dated May 27, 2021, by and between Continental
         Stock Transfer & Trust Company and the Company

  10.1     Investment Management Trust Agreement, dated May 27, 2021, by and
         between Continental Stock Transfer & Trust Company and the Company

  10.2     Registration Rights Agreement, dated May 27, 2021, by and among the
         Company and the Sponsor

  10.3     Letter Agreement, dated May 27, 2021, by and among the Company, its
         officers and directors and the Sponsor

  10.4     Private Placement Warrants Purchase Agreement, dated May 27, 2021, by
         and between the Company and the Sponsor

  10.5     Administrative Support Agreement, dated May 27, 2021, by and between
         the Company and the Sponsor

  99.1     Press Release Announcing Pricing of IPO

  99.2     Press Release Announcing Closing of IPO




                                       3

© Edgar Online, source Glimpses