Patria Latin American Opportunity Acquisition Corp. announced that it expects to receive $8 million in funding from Patria SPAC LLC

Patria Latin American Opportunity Acquisition Corp. announced a private placement of aggregate of 8,000,000 warrants at a price of $1 per warrant for gross proceeds of $8,000,000 on March 19, 2021. The warrants are exercisable at a price of $11.50 per share.

The transaction will include participation from Patria SPAC LLC. The company has granted an over-allotment option to issue additional 1,200,000 warrants. The warrants are subject to transfer restrictions.