European Biotech Acquisition Corp. announced that it will issue 400,000 units at a price of $10 per unit for gross proceeds of $4,000,000 on February 17, 2021. The transaction will include participation from returning investor Lsp Sponsor Ebac B.V. and its affiliates. Each unit consists of one class A ordinary share and one-third of one warrant. Each whole warrant entitles the holder thereof to purchase one class A ordinary share at an exercise price of $11.50 per share, subject to adjustments. The warrants will become exercisable on the later of 30 days after the completion of its initial business combination and 12 months from the closing of the initial public offering, and will expire five years after the completion of its initial business combination or earlier upon redemption or liquidation. The company will issue 430,000 warrants for gross proceeds of $4,300,000 if the underwriters’ option is exercised in full in the concurrent initial public offering. The warrants will be exercisable on a cashless basis and be non-redeemable, so long as they are held by the initial purchasers or their permitted transferees. All securities, including the class A shares issuable upon exercise of the warrants, will not be transferable, assignable or salable until 30 days after the completion of our initial business combination. The company will issue securities pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.