Health Assurance Acquisition Corp. announced that it has entered into agreement for a private placement of 11,666,666 warrants at a price of $1.50 per warrant for gross proceeds of $17,499,999 on November 12, 2020. The transaction will include participation from HAAC Sponsor, LLC and certain directors of the company. Each warrants consists of one share of Class A common stock and one-quarter of one redeemable warrant. Each warrant entitles the holder to purchase one additional Class A share shares at an exercise price of $11.50 per shares. All the securities issuable in the transaction will have a hold period of 30 days.