Accelerate Acquisition Corp. (NYSE:AAQC.U) announced a private placement of 7,333,333 warrants at a price of $1.5 per warrant for gross proceeds of $10,999,999.5 on March 2, 2021. The transaction will include participation from returning investor Accelerate Acquisition Sponsor LLC. Each warrant is exercisable to purchase one share of class A common stock at $11.50 per share. The company will issue 8,133,333 warrants in the transaction if the underwriters’ over-allotment option is exercised in full. The closing of the transaction will occur concurrently with the closing of the IPO of the company which is expected to close on March 22, 2021.