Virgin Group Acquisition Corp. II (NYSE:VGII.U) announced that it has entered into a warrants purchase agreement with Virgin Group Acquisition Sponsor II LLC., for a private placement of 5,733,333 warrants at a price of $1.50 per warrant $8,600,000 on February 12, 2021. Each warrant entitles the holder to purchase one additional common share at an exercise price of $11.50. The securities to be issued have a hold period of 30 days. The company has granted over-allotment option to the underwriters as part of the transaction. The company will issue additional 660,000 warrants for $990,000 if over-allotment option is exercised. The warrants are non-redeemable.