IG Acquisition Corp. announced that it has entered into a purchase agreement for private placement of 8,000,000 warrants at a price of $1 per warrant for gross proceeds of $8,000,000 on September 30, 2020. The transaction will include participation from accredited investor Ig Sponsor Llc. Each whole warrant entitles the holder to purchase one share at an exercise price of $11.50 per share. The warrants and the shares issued upon exercise or conversion to be issued will be subject to a hold period ending 30 days after the completion of the company’s initial business combination. The investor has agreed to purchase up to an additional 900,000 warrants for an aggregate proceeds of up to $900,000 if underwriters’ exercise its over allotment option is in full. The company will issue securities pursuant to Rule 501(a)(3) of Regulation D of the Securities Act of 1933.