Sports Ventures Acquisition Corp. announced that it has entered into an agreement for a private placement of 660,000 units at a price of $10 per unit for gross proceeds of $6,600,000 with existing investor Akicv Llc on January 5, 2021. Each unit consists of one Class A ordinary share and one third of one redeemable warrant. Each whole warrant is exercisable to purchase one whole share of common stock at $11.50 per share during the period commencing on the later of 12 months from the date of the closing of initial public offering of units and 30 days following the consummation of the initial business combination. The company will issue additional 60,000 units if over-allotment option is exercised in full making a total of 660,000 units in the transaction. The transaction is expected to close with the closing of the offering, January 8, 2021 on or before June 30, 2021. The agreement and each of the obligations of the undersigned shall be null and void and without effect if the Closing does not occur prior to June 30, 2021. The securities issued are subject to transfer restrictions, except in limited circumstances, until 30 days following the consummation of the business combination.