10X Capital Venture Acquisition Corp announced a private placement of 6,060,000 pre-paid warrants at a price of $1 per share for gross proceeds of $6,060,000 on September 25, 2020. The transaction will include participation from returning investor 10X Capital SPAC Sponsor I LLC. Each warrant is exercisable to purchase one share of class A common stock at $11.50 per share. The warrants will be restricted for until 30 days from the completion of our initial business combination and will be non-redeemable in nature. The warrants will become exercisable on the later of 30 days after the completion of our initial business combination or 12 months from the closing of this offering, and will expire five years after the completion of our initial business combination or earlier upon redemption or our liquidation.