Figure Acquisition Corp. I (NYSE:FACA.U) announced a private placement of 4,666,667 warrants at a price of $1.50 per warrant for gross proceeds of $7,000,000 on February 3, 2021. The transaction will include participation from Fintech Acquisition LLC. Each warrant entitles the holder to purchase one additional Class A common share at an exercise price of $11.50. The securities to be issued have a hold period of 30 days. The company has granted over-allotment option to the underwriters  as part of the transaction. The company will issue additional 5,166,667 warrants for $7,750,000 if over-allotment option is exercised. The warrants are non-redeemable.