Colonnade Acquisition Corp. announced a private placement of 6,000,000 warrants for $1 per warrant for a gross proceeds of $6,000,000 on August 4, 2020. The transaction will include participation from returning investor Colonnade Sponsor LLC. The transaction also include an oversubscription of 660,000 warrant for $1 per warrant for an additional gross proceeds of $660,000 in the aggregate if the investor option to purchase additional units is exercised in full. Each warrant entitles the holder thereof to purchase one share of class A common stock at $11.50 per share, subject to adjustment and will not be redeemable. The transaction will close simultaneously with the closing of public offering. The warrant is exercisable to the later of 30 days after the completion of initial business combination and 12 months from the closing of the offering. The warrants will have a lock up until 30 days after the completion of a business combination transaction subject to transfer restrictions. The warrants will expire five years after the completion of the transaction.