Ignyte Acquisition Corp. announced private placement of 2,350,000 warrants at a price of $1 per warrant for gross proceeds of $2,350,000 with existing investor Ignyte Sponsor LLC on January 11, 2021. Each warrant is exercisable at $11.50 per share, subject to adjustment, on the later of 30 days after the completion of initial business combination and 12 months from the closing of this offering, and will expire five years after the completion of initial business combination or earlier upon redemption or liquidation. The company may allot additional 150,000 warrants if the over-allotment option is exercised in full. The transaction will close concurrently with closing of public offering. The warrants will be subject to hold period of 30 days after the completion of initial business combination.