Spinning Eagle Acquisition Corp. announced a private placement of 22,000,000 warrants for $1.5 per warrant for a gross proceeds of $33,000,000 on October 30, 2020. The transaction will include participation from returning investor Eagle Equity Partners III, LLC. The transaction also include an oversubscription of 3,000,000 warrant for $1.5 per warrant for an additional gross proceeds of $4,500,000 in the aggregate if the investors 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, not be redeemable, will not be transferable, assignable or salable until 30 days after the completion of initial business combination and will be entitled to registration rights. 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. The investor has also entered into a forward purchase agreement with the company.