Gores Technology Partners II, Inc. (NasdaqCM:GTPB.U) announced that it has entered into an agreement for a private placement of 5,000,000 warrants at a price of $2 per warrant for gross proceeds of $10,000,000 from returning investor, Gores Technology Partners Sponsor II LLC on February 1, 2021. Each whole warrant is exercisable to purchase one whole share of Class A common stock at $11.50 per share, exercisable on the later of 30 days after the completion of initial business combination or 12 months from the closing of offering, and will expire five years after the completion of initial business combination or earlier upon redemption or liquidation. The company will issue additional 600,000 warrants if over-allotment option is exercised in full making a total of 5,600,000 warrants in the transaction. The transaction will close concurrently with public offering. The warrants will be non-redeemable and exercisable on a cashless basis so long as they are held by the investor or its permitted transferees. The private placement warrants will not be transferable, assignable or salable until 30 days after the completion of initial business combination.