Decarbonization Plus Acquisition Corp III (NasdaqCM:DCRC.U) announced that it has entered into an agreement for a private placement of 6,666,667 warrants at a price of $1.50 per warrant for gross proceeds of $10,000,001 with existing investor, Decarbonization Plus Acquisition Sponsor III LLC on February 12, 2021. Each whole warrant is exercisable to purchase one Class A ordinary share at $11.50 per share during the period commencing after 30 days following the consummation of the initial business combination and will expire five years after the completion of initial business combination or earlier upon redemption or liquidation. The company will issue additional 700,000 warrants if over-allotment option is exercised in full making a total of 7,366,667 warrants in the transaction. The transaction is expected to close with the closing of the initial public offering. The warrants will be non-redeemable and exercisable on a cashless basis so long as they are held by the initial purchasers or their permitted transferees. The warrants will not be transferable, assignable or salable until 30 days after the completion of initial business combination. The warrants issuances will be made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. There will be no redemption rights upon the completion of our initial business combination or liquidating distributions with respect to warrants, which will expire worthless if fail to consummate an initial business combination within 24 months or 30 months, as applicable, from the closing of the offering.