WASHINGTON, D.C. – Nelson Mullins represented OceanTech Acquisitions I Corp. (“OceanTech”) in its special purpose acquisition company (“SPAC”) deal with Majic Wheels Corp. (“Majic”). The deal has a value of $200 million and is expected to be completed in the first half of 2023. The combined company would trade on NASDAQ under the ticker symbol “MJWL.”

The Nelson Mullins team was led by partners Andy Tucker and Daniel Fitzgerald, and associates Amanda Chong, Sydney Hamer, and Zalak Raval. They were supported by partners Wells Hall, Tim Wagner, and Richard Levin.

OceanTech 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.

Majic 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.

Tucker is a corporate and securities advisor to growing companies, particularly in the technology and government contracting sectors. He assists his clients with a broad variety of transactional support, including venture capital and private equity transactions, joint ventures, mergers and acquisitions, and public and private securities offerings.

Fitzgerald concentrates his practice on a variety of corporate transactional matters, such as both buy-side and sell-side mergers and acquisitions, venture capital investments, liquidation and exit strategies, and general corporate governance matters.

Chong concentrates her practice in a variety of mergers and acquisitions transactions. She represents and advises clients with general corporate governance matters including entity formation, business restructuring and related matters.

Hamer concentrates her practice in a variety of buy-side and sell-side merger and acquisition transactions as well as public securities offerings, reporting, and compliance under the 1933 Act and the 1934 Act.

Raval practices in the area of corporate and securities law. She represents both issuers and investment banks in a wide variety of public and private offerings, including initial public offerings, private placements, and ongoing reporting and compliance under the 1934 Act.

Read the press release.