Oyster Enterprises Acquisition Corp. announced private placement of 5,500,000 redeemable warrants at a price of $1 per warrant for gross proceeds of $5,500,000 on December 30, 2020. The company will issue 6,100,000 redeemable warrants if the underwriter’s over-allotment option is exercised in full. The transaction will include participation from existing investor Oyster Enterprises, LLC for 4,000,000 warrants (or 4,375,000 warrants in case of over-allotment) and Imperial Capital, LLC for 1,500,000 warrants (or 1,725,000 warrants in case of over-allotment). Each warrant is exercisable at $11.50 per class A share, subject to adjustment, on the later of 30 days after the completion of initial business combination and 12 months from the closing of public offering, and will expire 5 years after the completion of initial business combination or earlier upon redemption or liquidation. The warrants will be non-redeemable in certain redemption scenarios and are exercisable on a cashless basis. The warrants will not be transferable, assignable or salable until 30 days after the completion of initial business combination. The transaction is expected to close simultaneously with public offering.