Growth Capital Acquisition Corp. announced private placement of 465,500 units at a price of $10 per unit for gross proceeds of $4,655,000 on August 17, 2020. The transaction will include participation from returning investors Growth Capital Sponsor LLC, HB Strategies LLC, and Nautilus Carries LLC. Each unit consists of one class A common share and one-half of one redeemable warrant, with each whole warrant is exercisable at $11.50 per class A share, subject to adjustment and certain limited exceptions, 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 will issue 515,000 units if the underwriters’ over-allotment option is exercised in full. The transaction will close simultaneously with the closing of public offering. The units will be subject to lock-up restrictions for a period of 180 days immediately following the date of effectiveness of the registration statement.