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.
- The deal is expected to close pending customary conditions.
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
Frequently asked questions
How much did OceanTech Acquisitions I Corp. pay for Majic Wheels Corp.?
OceanTech Acquisitions I Corp. acquired Majic Wheels Corp. for $200M, announced on November 15, 2022.
When did OceanTech Acquisitions I Corp. announce the acquisition of Majic Wheels Corp.?
OceanTech Acquisitions I Corp. announced the acquisition of Majic Wheels Corp. on November 15, 2022.
What sub-sector is Majic Wheels Corp. in?
Majic Wheels Corp. is tracked in the Crypto / Digital Assets sub-sector.
Sources
- itnewsonline.com /GlobeNewswire/Majic-Wheels-Corp.-Enters-Definitive-Merger-Agreement-with-OceanTech-Acquisitions-I-Corp./52407