Surendra K. Ajjarapu - Mar 13, 2023 Form 3 Insider Report for OceanTech Acquisitions I Corp. (OTEC)

Role: 10%+ Owner
Signature: /s/ Surendra Ajjarapu, by Nelson Mullins Riley & Scarborough LLP with Power of Attorney
Stock symbol: OTEC
Transactions as of: Mar 13, 2023
Transactions value $: $0
Form type: 3
Date filed: 4/21/2023, 06:07 PM
Previous filing: Mar 24, 2023
Next filing: Mar 24, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	OTEC	Class B common stock							Mar 13, 2023	Class A common stock	2.58M		Direct	F1, F2
holding	OTEC	Warrants							Mar 13, 2023	Class A common stock	5.87M	$1.00	See footnote	F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	As described in the issuer's registration statement on Form S-1 (File No. 333-255151) under the heading "Description of Securities-Founder Shares", the Class B common stock, par value $0.0001, will automatically convert into Class A common stock, par value $0.0001, of the issuer at the time of the issuer's initial business combination transaction on a one-for-one basis, subject to adjustment for share splits, share capitalizations, reorganizations, recapitalizations and the like, and certain anti-dilution rights and have no expiration date.
F2	These shares represent 2,581,500 shares of Class B common stock of the issuer held by Aspire Acquisition, LLC (the "Sponsor"). As such, the Reporting Person may be deemed to have beneficial ownership of such shares. The Reporting Person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
F3	These warrants are held by Aspire Acquisition, LLC (the "Sponsor"). As such, the Reporting Person may be deemed to have beneficial ownership of such shares. The Reporting Person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
F4	Each warrant will become exercisable on the later of 12 months from the closing of the Issuer's initial public offering and 30 days the date of completion of the Issuer's initial business combination. Each warrant will expire five years after the completion of the Issuer's initial business combination or earlier upon redemption or liquidation.