Apollo Strategic Growth Capital II announced a private placement of 5,600,000 warrants at a price of $1 per share for gross proceeds of $5,600,000 on January 6, 2021. The transaction will include participation from returning investor APSG Sponsor II, L.P. Each warrant will be exercisable to purchase one share of class A 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.