Z-Work Acquisition Corp. announced that it has entered into agreement for a private placement of 6,500,000 warrants at a price of $1 per warrant for gross proceeds of $6,500,000 on January 13, 2021. The transaction will include participation from Z-Work Holdings Llc and Jefferies LLC. Each warrant entitles the holder to purchase one additional common shares at a price of $11.50 per share. The securities to be issued will have a lock up period of 30 days. The transaction is expected to close simultaneously with the closing of public offering.