Glenfarne Merger Corp. (NasdaqCM:GGMC.U) announced that it has entered into a units purchase agreement for a private placement of 700,000 units at a price of $10 per unit with returning investor Glenfarne Sponsor, LLC for gross proceeds of $7,000,000 on February 17, 2021. The company will grant an over-allotment option to purchase 775,000 units. Each unit consisting of one share of Class A common stock and one-third of one redeemable warrant. Each warrant exercisable to purchase one share of its Class A common stock at $11.50 per share, at a price of $10 per unit, in a private placement to occur concurrently with the closing of this offering. The warrants 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. Once the warrants become exercisable, the company may redeem the outstanding warrants subject to conditions. The securities are subject to a hold period of 30 days.