Novus Capital Corporation II (NYSE:NXU.U) announced a private placement of 4,666,666 warrants at a price of $1.50 per warrant $6,999,999 on January 13, 2021. The transaction will include participation from Novus Capital Associates, LLC for 1,666,666 warrants and NCCII Co-Invest LLC for 300,000 warrants. Each warrant entitles the holder to purchase one additional common share at an exercise price of $11.50. The securities to be issued have a hold period of 30 days. The company has granted over-allotment option to the underwriters as part of the transaction. The company will issue additional 500000 warrants for $750,000 if over-allotment option is exercised. The warrants are non-redeemable.