FTAC Olympus Acquisition Corp. announced that it has entered into an agreement for a private placement of 2,170,000 placement units at a price of $10 per unit with FTAC Olympus Sponsor, LLC for gross proceeds of $21,700,000 on August 6, 2020. The company will grant an over-allotment option to purchase additional 11,250,000 units. Each unit will consists of one class A common share and one-third of one placement warrant. Each placement warrant will be exercisable to purchase one class A common share at a price of $11.5 per share. The warrant units will expire five years after the completion of a business combination or earlier upon redemption or liquidation. The private placement warrants will be non-redeemable for cash and exercisable on a cashless basis so long as the investor or its permitted transferees hold them. The placement is made The securities are subject to a hold period. The company will issue securities pursuant to exemption provided under Section 4(a)(2) of the Securities Act of 1933. The company expects to close the transaction on or before December 31, 2020.