Andrii Yalanskyi
- SPAC OceanTech Acquisitions I (NASDAQ:OTEC) said Monday its merger with cryptocurrency exchange operator Majic Wheels (OTCPK:MJWL) has been terminated by mutual agreement.
- OceanTech (OTEC) will seek an alternative business combination.
- Majic Wheels (OTCPK:MJWL) and OceanTech (OTEC) had announced their ~$200M merger late last year. The SPAC earlier asked shareholders to reverse their redemption notices so it can extend the deadline for closing the merger.