Leo Holdings Corp. II announced that it has entered into a warrants purchase agreement for a private placement of 6,666,667 warrants at a price of $1.50 per share for gross proceeds of $10,000,000.5 on January 7, 2021. The transaction will include participation from returning investor Leo Investors Ii Limited Partnership. Each warrant is exercisable to purchase one class A ordinary share at $11.50 per share. The company has granted an over-allotment option to the underwriters for purchase of an additional 700,000 warrants. The private placement warrants will be non-redeemable and exercisable on a cashless basis so long as they are held by our sponsor or its permitted transferees. The warrants are subject to transfer restrictions until initial business combination. The transaction is expected to close with the consummation of the initial public offering.