Concord Acquisition Corp III announced that it has entered into a warrants purchase agreement for a private placement of 9,400,000 warrants at a price of $1 per warrant for gross proceeds of $9,400,000 on November 8, 2021. The transaction includes participation form Concord Sponsor Group III LLC and CA2 Co-Investment LLC for 8,260,606 warrants and 1,139,394 warrants respectively. Each warrant entitles the holder to purchase one share at an exercise price of $11.5 per share, subject to adjustment. The company may issue up to 1,500,000 additional warrants if the underwriters in the public offering exercise their over-allotment option in full. The warrants may be exercised for cash or on a cashless basis, are not subject to being called for redemption and subject to certain limited exceptions, will be subject to transfer restrictions until 30 days following the consummation of the company?s initial business combination. If the warrants are held by holders other than the sponsor or its permitted transferees, the warrants will be redeemable by the company in all redemption scenarios and exercisable by holders.