Vertex Technology Acquisition Corporation Ltd. announced that it has entered into a private placement warrants purchase agreement for a private placement of 16,000,000 warrants at an issue price of SGD 0.5 per warrant for gross proceeds of SGD 8,000,000 on January 6, 2022. The transaction will include participation from Vertex SPV. The company may issue a further up to 4,000,000 warrants in one or more tranches at any time during the period commencing on the date of the close of the concurrent public offering to the date of the initial business combination, at a consideration of SGD 0.50 per Warrant.

Each warrant entitles investor to subscribe for one share based on the exercise price of SD 5.75 per Share, subject to adjustment, exercisable on the later of the date that is 30 days after the completion of the initial business combination or the date that is 12 months from the date of closing of the public offering. The warrants may not be transferred, assigned or sold until thirty days after the completion by the Company of an initial Business Combination.