OTR Acquisition Corp. announced that it has entered into a warrant purchase agreement with OTR Acquisition Sponsor LLC of an aggregate of 5,650,000 warrants at a price of $1.00 per warrant for gross proceeds of $5,650,000 on November 17, 2020. The company will issue 6,212,500 warrants if the over-allotment option is exercised in full, each warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share. The purchaser shall pay the Purchase Price by wire transfer of immediately available funds to the trust account maintained by Continental Stock Transfer & Trust Company, acting as trustee. The warrants shall not be transferable, assignable or salable until 30 days after the completion of an initial business combination, subject to certain exceptions. The warrants will be non-redeemable and exercisable on a cashless basis so long as they are held by the sponsor, the underwriters or their permitted transferees.