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Why Shares Of Ocean Bio-Chem Rose 117% On Wednesday

Ocean Nasdaq OneWater Marine

Ocean Bio-Chem Inc. (NASDAQ:OBCI) shares are trading higher after the company announced it will be acquired by OneWater Marine for $13.08 per share in an all-cash transaction valued at approximately $125 million.

Austin Singleton, Chief Executive Officer for OneWater, said "Ocean Bio-Chem brings aboard a suite of iconic brands and consumable products to the OneWater portfolio, and we are thrilled that OBCI's experienced and highly regarded team will be joining us."

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