Omega Alpha SPAC announced private placement of 425,000 class A shares at a price of $10 per share for gross proceeds of $4,250,000 with existing investor Omega Alpha Management on December 21, 2020. The company will issue 455,000 shares if the underwriters’ over-allotment option is exercised in full. The transaction will close concurrently with the closing of public offering. The shares are subject to lock-up until 30 days after the completion of initial business combination.