Adit EdTech Acquisition Corp. announced a private placement of 5,750,000 warrants at a price of $1 per share for gross proceeds of $5,750,000 on December 23, 2020. The transaction will include participation from returning investor Adit Edtech Sponsor, LLC. Each warrant will be exercisable to purchase one share of common stock at $11.50 per share. The company has granted an over-allotment option for 600,000 warrants to the underwriters. The warrants will be non-redeemable in nature and will be subject to transfer restrictions until 30 days after the completion of the company's initial business combination. The transaction is expected to close upon consummation of the initial public offering.