OceanTech / Majic Wheels 2022
OceanTech Acquisitions I Corp. acquired Majic Wheels Corp. for $200M on November 15, 2022.
- Target
- Majic Wheels Corp.
- Acquirer
- OceanTech Acquisitions I Corp.
- Deal value
- $200M
- Announced
- November 15, 2022
- Sub-sector
- Crypto / Digital Assets
Transaction overview
- OceanTech Acquisitions I Corp. announced the acquisition of Majic Wheels Corp. on November 15, 2022 for $200M.
Strategic rationale
SPAC combination to take Majic Wheels public on Nasdaq, combining fintech, insurtech, and crypto exchange assets to capitalize on blockchain and Web3 market growth.
Deal terms & multiples
Sources
- itnewsonline.com /GlobeNewswire/Majic-Wheels-Corp.-Enters-Definitive-Merger-Agreement-with-OceanTech-Acquisitions-I-Corp./52407