Appreciate Holdings, Inc. announced that it has entered into a common stock purchase agreement with CF Principal Investments, LLC to issue class A common stock, par value $0.0001 per share for gross proceeds of $100,000,000 on May 17, 2022. The transaction will be closed in multiple tranches. The agreement has a term of 36 months from and after the commencement.

The purchase price of the class A common stock that the company elects to sell to the investor will be 98% of the volume weighted average price.