Sustainable Development Acquisition I Corp. announced that it expects to receive $8 million in funding from Sustainable Development Sponsor, LLC
Sustainable Development Acquisition I Corp. (NasdaqCM:SDAC.U) announced a private placement of 8,000,000 warrants at a price of $1 per warrants for gross proceeds of $8,000,000 on January 15, 2021. The transaction will include participation from Sustainable Development Sponsor, LLC. Each warrant entitles the holder to purchase one additional class A 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 8,750,000 warrants for $8,750,000 if over-allotment option is exercised. The warrants are non-redeemable.