Jaws Mustang Acquisition Corporation (NYSE:JWSM.U) announced a private placement of 8,500,000 warrants at a price of $2 per warrant for gross proceeds of $17,000,000 on January 15, 2021. The transaction will include participation from Mustang Sponsor Llc. Each warrant entitles the holder to purchase one additional common share at an exercise price of $11.50. The securities to be issued have a hold period of 30 days. The company has granted over-allotment option to the underwriters  as part of the transaction. The company will issue additional 9,625,000 warrants for $19,250,000 if over-allotment option is exercised. The warrants are non-redeemable.