OceanTech Acquisitions I Corp. Confirms Intention to Extend Period to Consummate Initial Business Combination

May 23, 2022

OceanTech Acquisitions I Corp. (“OceanTech” or the “Company”) (Nasdaq: OTECU), a special purpose acquisition company, today announced that it will extend the period of time it has to consummate its initial business combination by six months from June 2, 2022 to December 2, 2022 (the “Extension”). OceanTech Acquisitions I Sponsors LLC (the “Sponsor”), has notified the Company that it intends to purchase 1,548,900 private placement warrants at $1.00 per warrant by depositing an aggregate of $1,548,900 (representing $0.15 per public share) into the Company’s trust account prior to June 2, 2022, allowing for the extension. The Company will announce the closing and deposit of the $1,548,900 into the Company’s trust account prior to the deadline of June 2, 2022. The Extension is permitted under the Company’s governing documents.

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