North Atlantic Acquisition Corporation announced a private placement of 6,066,667 warrants at a price of $1.50 each for gross proceeds of $9,100,000.5 on January 4, 2021. The transaction will include participation from returning investor NAAC Sponsor LP. The company has granted an over allotment option to the underwriter for 600,000 warrants. Each warrant will be exercisable to purchase one class A ordinary share at $11.50 per share. The warrants will be subject to transfer restrictions and will be non-redeemable in nature. The warrants will become exercisable on the later of 30 days after the completion of our initial business combination, and 12 months from the closing of the offering.