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US Biotech Captura Biopharma to Merge with SPAC.

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Vincent

MANews-(C)2009-2022

US-based emerging biotechnology company Captura Biopharma and US-based special purpose acquisition company OceanTech acquisitions I Corp (NASDAQ: OTEC) have entered into a definitive business combination agreement that will result in Captura Biopharma becoming a publicly listed company, the companies said.

Upon closing of the transaction, OceanTech will be renamed Captura Biopharma Holdings, Inc, and it expects to remain listed on The NASDAQ Stock Market LLC.

Captura Biopharma is an emerging biotechnology company developing and commercializing oral chelators to treat internal transuranic radionuclide contamination and heavy metal poisoning.

The Combined company would have an approximate post-transaction equity market capitalization of USD 224.3m assuming a USD 10.00 per share price and no redemptions by OceanTech stockholders.

The business combination has been approved by the boards of directors of both OceanTech and Captura Biopharma, and is expected to close in 4Q22.

Nelson Mullins Riley and Scarborough LLP is serving as legal advisor to OceanTech. Ellenoff Grossman and Schole LLP is serving as legal advisor to Captura Biopharma.

OceanTech acquisitions I Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital...

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