Build Acquisition Corp. (NYSE:BGSX.U) announced a private placement to issue 4,000,000 warrants at a price of $1.50 per warrant for gross proceeds of $6,000,000 on January 22, 2021. The transaction will include participation from returning investor, Build Acquisition Sponsor LLC. If the underwriter’s over-allotment option in initial public offering is exercised in full, the company may issue 4,400,000 warrants for gross proceeds of $6,600,000. Each warrant is exercisable to purchase one class A ordinary share at a price of $11.50 per share, subject to adjustment. The warrants will not be redeemable as long as they are held by the investor or its permitted transferees. The warrants will not be transferable, assignable or saleable until 30 days after the completion of initial business combination. The securities are being issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.