Big Cypress Acquisition Corp. announced that it has entered into an agreement for a private placement of 382,250 units at a price of $10 per unit for gross proceeds of $3,822,500 with existing investor, Big Cypress Holdings LLC on January 4, 2021. Each unit consists of one ordinary share and one half of one warrant. Each whole warrant is exercisable to purchase one whole share of common stock at $11.50 per share during the period commencing on the later of 30 days following the consummation of the initial business combination or 12 months from the date of the closing of initial public offering of units and and terminating on the five year anniversary of the closing of a business combination. The company will issue additional 34,950 units if over-allotment option is exercised in full making a total of 417,200 units in the transaction. The transaction is expected to close with the closing of the offering. The agreement and each of the obligations of the undersigned shall be null and void and without effect if a closing does not occur prior to March 31, 2021. The warrants will be non-redeemable and and exercisable on a cashless basis so long as they are held by subscriber or its permitted transferees. The units will be subject to transfer restrictions. There will be no redemption rights or liquidating distributions from the trust account with respect to the placement shares or placement warrants, which will expire worthless if consummation of business combination is not within the allotted 15 period or up to 21 months if extended the period of time to consummate initial business combination.