Item 8.01. Other Events.

On January 12, 2021, Prospector Capital Corp. (the "Company") consummated its initial public offering ("IPO") of 32,500,000 units (the "Units"), including the issuance of 2,500,000 Units as a result of the underwriters' exercise in part of their option to purchase additional Units. Each Unit consists of one Class A ordinary share of the Company, par value $0.0001 per share ("Class A ordinary shares"), and one-third of one redeemable warrant of the Company (each whole warrant, a "Warrant"), with each Warrant entitling the holder thereof to purchase one Class A ordinary share for $11.50 per share, subject to adjustment. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $325,000,000.

Simultaneously with the closing of the IPO, the Company completed the private sale of 500,000 private placement warrants to Prospector Sponsor LLC (the "Sponsor") at a purchase price of $1.50 per private placement warrant, generating gross proceeds to the Company of $750,000 (the "Pricing Private Placement").

A total of $325,000,000, comprised of $318,500,000 of the proceeds from the IPO (which amount includes $11,375,000 of the underwriters' deferred discount) and $6,500,000 of the proceeds of sales of the private placement warrants to Prospector Sponsor LLC, including the Pricing Private Placement, was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A. maintained by Continental Stock Transfer & Trust Company, acting as trustee.

An audited balance sheet as of January 12, 2021 reflecting receipt of the proceeds upon consummation of the IPO and the sale of the Private Placement Warrants has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.

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