XPAC Acquisition Corp. announced a private placement of 4,000,000 warrants at a purchase price of $1.5 per warrants for gross proceeds of $6,000,000 on April 8, 2021. The transaction will include participation from existing investor XPAC Sponsor LLC, an affiliate of XP Inc. Each private placement warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as provided herein.

The private placement warrants will not be redeemable by company, may not, subject to certain limited exceptions, be transferred, assigned or sold by investor until 30 days after the completion of initial business combination; may be exercised by the holders on a cashless basis; and are entitled to registration rights.