Lerer Hippeau Acquisition Corp. (NasdaqCM:LHAA) announced that it has entered into a securities purchase agreement with Lhac Sponsor Llc for a private placement of 640,000 Class A common stock, $0.0001 par value per share, at a purchase price of $10 per share for gross proceeds of $6,400,000 on March 4, 2021. The company has up to 60,000 additional shares if the underwriters in the public offering exercise their over-allotment option in full. The sponsor and the company’s officers and directors will agree, subject to limited exceptions, not to transfer, assign or sell any of their private placement Shares until 30 days after the completion of the initial Business Combination.