Notice of Termination by OTEC to Regentis dated June 3, 2024
Exhibit 10.1
OceanTech Acquisitions I Corp.
515 Madison Avenue
8th Floor – Suite 8133
New York, New York 10022
Attn: Surendra K. Ajjarapu
Telephone No.: (813) 601-3533
Email: ***@***
June 3, 2024
By electronic mail:
Regentis Biomaterials Ltd. (“Regentis”)
12 Ha’ilan Street
Northern Industrial Zone, P.O. Box 260
Or-Akiva ###-###-####, Israel
| Attn: | Eli Hazum ( ***@***) |
Ehud Geller ( ***@***)
| RE: | Termination of Agreement and Plan of Merger, dated May 2, 2023, as amended by that certain Amendment No. 1 to Agreement and Plan of Merger, dated July 7, 2023 (collectively, the “Merger Agreement”) by and among OceanTech Acquisitions I Corp. (“OTEC”), R.B. Merger Sub Ltd. (the “Merger Sub”) and Regentis |
Dear All:
We hereby inform you on behalf of OTEC, that OTEC is hereby terminating the Merger Agreement, effective immediately, in accordance with the provisions of Section 6.1(g) and 7.1(b) thereof. Capitalized terms not otherwise defined in this notice have the meanings ascribed to them in the Merger Agreement, and section references in this notice are references to sections of the Merger Agreement.
Since the date the Merger Agreement was signed, the listing application with Nasdaq in connection with the Transactions was not approved and the Merger Consideration was not listed on Nasdaq subject to official notice of issuance. OTEC reserves the right to terminate the Merger Agreement on additional grounds as well.
Sincerely,
OCEANTECH ACQUISITIONS I CORP.
| By: | /s/ Surendra Ajjarapu | |
| Name: | Surendra Ajjarapu | |
| Title: | Chief Executive Officer |
| By: | /s/ Francis Knuettel II | |
| Name: | Francis Knuettel II | |
| Title: | Chief Financial Officer |
| CC: | Andrew M. Tucker ( ***@***) | |
| Tiffany Weatherholtz ( ***@***) | ||
| Grant Levine ( ***@***) | ||
| Mark Selinger ( ***@***) | ||
| Ronen Kantor ( ***@***) |
