Item 8.01. Other Events.
On June 2, 2021, OceanTech Acquisitions I Corp. (the "Company") consummated its
initial public offering (the "IPO") of 10,000,000 units (the "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.
On June 2, 2021, simultaneously with the consummation of the IPO, the Company
completed 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 and 700,000 Placement
Warrants were purchased by Maxim Group LLC (and/or its designees), generating
total proceeds of $4,571,000.
A total of $101,000,000, comprised of $100,000,000 of the proceeds from the IPO
(which amount includes $3,500,000 of the underwriters' deferred discount) and
$4,571,000 of the proceeds of the sale of the Placement Warrants, was placed in
a U.S.-based trust account maintained by Continental Stock Transfer & Trust
Company, acting as trustee.
An audited balance sheet as of June 2, 2021, reflecting receipt of the proceeds
upon consummation of the IPO and the Private Placement has been issued by the
Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.
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OCEANTECH ACQUISITIONS I CORP. 
