|12 Months Ended|
Dec. 31, 2020
Note 4. Private Placement
Concurrently with the closing of the Initial Public Offering, the Sponsor and the anchor investor purchased an aggregate of 7.76 million in the aggregate) in a private placement. Among the Private Placement Warrants, warrants were purchased by the Sponsor and warrants were purchased by the anchor investor. Private Placement Warrants at $ per warrant ($
Each Private Placement Warrant is exercisable to purchase one Class A share at $11.50 per share. A portion of the proceeds from the Private Placement Warrants was added to the proceeds from the Initial Public Offering to be held in the Trust Account. If the Company did not complete a Business Combination within the Combination Period, the Private Placement Warrants would expire worthless.
See the “Business Combination” described in Note 1 above, including the description of the Sponsor Surrender Agreement, pursuant to which a portion of the Private Placement Warrants will be forfeited immediately prior to (but conditioned and effective upon) completion of the proposed Merger.