Colonnade Acquisition Corp. II (NYSE:CLAA.U) announced that it has entered into an agreement for a private placement of 4,666,667 warrants at a price of $1.50 per warrant for gross proceeds of $7,000,000.5 from returning investor, Colonnade Sponsor II LLC on February 12, 2021. Each whole warrant is exercisable to purchase one Class A ordinary share at $11.50 per share and will become exercisable 30 days after the completion of the initial business combination and will expire five years after the completion of its initial business combination or earlier upon redemption or our liquidation. The company will issue additional 500,000 warrants if over-allotment option is exercised in full making a total of 5,166,667 warrants in the transaction. The transaction is expected to close with the closing of the initial public offering. The warrants are non-redeemable. The private placement warrants will not be transferable, assignable or salable until 30 days after the completion of our initial business combination.