Brief: Majic Wheels Corp Enters Definitive Merger Agreement With Oceantech Acquisitions I Corp

Majic Wheels

15/11/2022 22:29

Nov 15 (Reuters) - Majic Wheels Corp  MJWL.PK :
    * MAJIC WHEELS CORP. ENTERS DEFINITIVE MERGER AGREEMENT WITH
OCEANTECH ACQUISITIONS I CORP.
    * MAJIC WHEELS CORP- ENTERED DEFINITIVE MERGER DEAL THAT
WILL
RESULT IN MAJIC WHEELS BECOMING A PUBLICLY LISTED CO ON NASDAQ
STOCK MARKET LLC
    * MAJIC WHEELS CORP- UPON CLOSING OF TRANSACTION, OCEANTECH
WILL
BE RENAMED MAJIC CORP.
    * MAJIC WHEELS CORP- MERGER AGREEMENT INCLUDES AN EARN-OUT
CONSIDERATION OF UP TO $500 MILLION USD
    * MAJIC WHEELS CORP- UPON CLOSING OF DEAL OCEANTECH EXPECTS
TO
REMAIN LISTED ON NASDAQ UNDER TICKER SYMBOL "MJWL"
    * MAJIC WHEELS CORP- PROPOSED MERGER AGREEMENT REPRESENTS A
TRANSACTION VALUE OF APPROXIMATELY $200,000,000 USD

Source text for Eikon:  ID:nBw8M3pK9a 
Further company coverage:  MJWL.PK 
 ((Reuters.Briefs@thomsonreuters.com;))