Twelve Seas Investment Company II (NasdaqCM:TWLV.U) announced a private placement of 700,000 units at an issue price or $10 per unit for gross proceeds of $7,000,000 on January 29, 2021. The transaction will include participation from Mizuho Securities USA LLC for 200,000 units and Twelve Seas Sponsor Ii Llc for 500,000 units. Each unit consist of one share of Class A common stock and one-third redeemable warrant to purchase one share of Class A common stock at a price of CAD 11.50 per whole share. The transaction is expected to close simultaneously with the closing of IPO. The units and their component securities will not be transferable, assignable or salable until 30 days after the consummation of its initial business combination.