Powered Brands announced that it has entered into a warrant purchase agreement for a private placement of 5,180,000 pre-paid redeemable warrants at an issue price of $1.50 per warrant for gross proceeds of $7,770,000 on January 7, 2021. The transaction involves participation from PB Management. Each private placement warrant is exercisable for one share of class A common stock at a price of $11.50 per share. Once the warrants become exercisable, the company may redeem the outstanding warrants for cash. The company issued warrants pursuant to Regulation D.