Turmeric Acquisition Corp. announced that it will issue 390,000 units at a price of $10 per unit for gross proceeds of $3,900,000 on September 28, 2020. The transaction will include participation from returning investor Turmeric Management, LLC and its affiliates. Each unit consists of one class A ordinary share and one-third of one warrant of the company. Each whole warrant entitles the holder thereof to purchase one class A ordinary share at an exercise price of $11.5 per share. The company will issue 420,000 units for gross proceeds of $4,200,000, if the underwriters’ over-allotment option is exercised in full in the concurrent initial public offering. The private placement warrants will be non-redeemable and exercisable on a cashless basis so long as they are held by the investor or its permitted transferees. All securities to be issued in the transaction will not be transferable, assignable or salable until 30 days after the completion of the company's initial business combination. This transaction will be made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. The transaction is expected to close concurrently with the closing of the initial public offering.