Global SPAC Partners Co. (NasdaqCM:GLSP.U) announced that it has entered into a written agreement for a private placement of 525,000 placement units at a price of $10.00 per unit for gross proceeds of $5,250,000 on October 13, 2020. The company will issue 585,000 placement units if the underwriters’ over-allotment option is exercised in full, for gross proceeds of $5,850,000 in the transaction. The transaction is expected to close simultaneously with the closing of this offering. Each placement unit consists of one subunit and one-half of a warrant. Each subunit consists of one Class A ordinary share and one-quarter of a warrant. The placement warrants included in the placement units will be non-redeemable in nature. Each whole placement warrant is exercisable to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as provided herein. The placement warrants may be exercised only for a whole number of shares. The placement units and their component securities will not be transferable, assignable or saleable until 30 days after the consummation of our initial business combination. The transaction will include participation from returning investor Global SPAC Partners Sponsors LLC. The warrants will expire at 5:00 p.m., New York City time, on the fifth anniversary of our completion of an initial business combination, or earlier upon redemption.