ION Acquisition Corp 3 Ltd. (NYSE:IACC) announced that it has entered into an agreement for a private placement of 7,500,000 warrants at a price of $1 per warrant for gross proceeds of $7,500,000 with existing investor, ION Holdings 3, LP on April 6, 2021. Each whole warrant is exercisable to purchase one Class A ordinary share at $11.50 per share exercisable 30 days after the completion of our initial business combination. The company will issue additional 750,000 warrants if over-allotment option is exercised in full making a total of 8,250,000 warrants in the transaction. The transaction is expected to close with the closing of the offering. The private placement warrants will not be transferable, assignable or salable until 30 days after the completion of our initial business combination. The private placement warrants will not be redeemable.