FTAC Parnassus Acquisition Corp. (NasdaqCM:FTPA.U) announced a it has signed a purchase agreement to issue 690,000 units at a price of $10 per unit for the gross proceeds of $6,900,000 on March 11, 2021. Each unit consists of one Class A ordinary share and one-fourth of one non-redeemable warrant. Each warrant is exercisable to purchase one share of Class A common stock at a price of $11.50 per share and will expire five years after completion of Business Combination or earlier upon redemption or liquidation. The securities issued in the transaction are subject to 30 days restriction. The transaction will include participation from Millennium Management LLC for 345,000 units and FTAC Parnassus Sponsor, LLC for 345,000 units. The issuance of the units was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. The closing of offering is simultaneously with the closing of the IPO on or before June 30, 2021.