Live Oak Mobility Acquisition Corp. (NYSE:LOKM.U) announced a private placement of 4,666,666 warrants at a price of $1.50 per warrant $7,000,000 on January 27, 2021. The transaction will include participation from Live Oak Mobility Sponsor Partners, Llc. 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 500,000 warrants for $750,000 if over-allotment option is exercised. The warrants are non-redeemable.