On January 6, 2021, Ivanhoe Capital Acquisition Corp. closed the transaction. The company issued 5,013,333 warrants at a price of $1.50 per share for gross proceeds of $7,519,999.50. The investor or its permitted transferees, (i) are not redeemable by the company, (ii) may not, including the class A ordinary shares issuable upon exercise of the warrants, subject to certain limited exceptions, be transferred, assigned or sold until 30 days after the completion of the company’s initial business combination, (iii) may be exercised on a cashless basis, and (iv) are entitled to registration rights. No underwriting discounts or commissions were paid with respect to such sale. The issuance of the private placement warrants was made pursuant to the exemption from registration contained in section 4(a)(2) of the securities act of 1933, as amended.