Spartan Acquisition Corp. II announced that it has entered into an agreement for a private placement of 7,333,333 warrants at a price of $1.50 per warrant with Spartan Acquisition Sponsor II LLC for gross proceeds of $11,000,000 on October 9, 2020. The company will grant an over-allotment option to purchase 800,000 warrants. Each warrant exercisable to purchase one share of the company Class A common stock at $11.50 per share, at a price of $1.50 per warrant, in a private placement to occur concurrently with the closing of this offering. The warrants will expire five years after the completion of a business combination or earlier upon redemption or liquidation. The private placement warrants will be non-redeemable for cash and exercisable on a cashless basis so long as the investor or its permitted transferees hold them. Once the warrants become exercisable, the company may redeem the outstanding warrants subject to conditions. The securities are subject to a hold period.