Power & Digital Infrastructure Acquisition Corp. (NasdaqCM:XPDI.U) announced that it has entered into a written agreement with Xpdi Sponsor Llc for a private placement of 7,500,000 warrants at a price of $1 per warrant for gross proceeds of $7,500,000 on January 8, 2021. Each warrant is exercisable to purchase one share of our Class A common stock at $11.50 per share, The company will issue 8,250,000 warrants if the underwriters’ over-allotment option is exercised in full. The transaction is expected to close concurrently with the closing of the public offering. The warrant will be non-redeemable in nature. The warrants will not be transferable, assignable or salable until 30 days after the completion of its initial business combination. The warrants will become exercisable on the later of: 30 days after the completion of our initial business combination; and 12 months from the closing of the public offering.