Decarbonization Plus Acquisition Corporation announced a private placement of 40,000,000 Class A Common Stock at a price of $10 per share for the gross proceeds of $400 million on February 8, 2021. The company has signed a purchase agreement with Hyzon Motors, Inc. The transaction will include participation from existing and new institutional investors including funds and accounts managed by Federated Hermes, Inc., BlackRock, Inc., Wellington Management Group LLP, Riverstone Holdings LLC, Fidelity Management & Research Company LLC, Riverstone Energy Limited. The transaction has been approved by the boards of the company.

The securities issued in the transaction are exempted from registration provided by Section 4(a)(2) of the Securities. The securities issued in the transaction are subject to six month hold period. The completion of the proposed transaction is subject to customary closing conditions, including the approval of shareholders, and is expected to occur in the second calendar quarter of 2021.