Cetus Capital Acquisition Corp. announced that it will issue 333,500 units at a price of $10 per warrant for gross proceeds of $3,335,000 on July 28, 2022. The transaction will include participation from returning investor Cetus Sponsor LLC.

Each unit consists of one class A common share and one warrant. Each warrant entitles the holder to purchase one class A common share at an exercise price of $11.50 per share. The warrants will become exercisable on the later of 12 months from the effective date of registration statement, and the date of the consummation of its initial business combination, and will expire five years after the completion of its initial business combination or earlier upon redemption or liquidation.

The company will issue 365,000 units for gross proceeds of $3,650,000 if the underwritersÆ option is exercised in full in the concurrent initial public offering. All securities to be issued in the transaction will not be transferable, assignable or salable until 30 days after the completion of its initial business combination.