Motion Acquisition Corp. announced private placement of 2,733,333 warrants at a price of $1.5 per share for gross proceeds of $4,100,000 with existing investor Motion Acquisition LLC on September 25, 2020. Each warrant is exercisable at $11.5 per class A share, subject to adjustments. The company has granted over-allotment option to purchase additional 260,000 warrants if underwriters’ over-allotment option is exercised in full. The transaction will close simultaneously with the closing of public offering. The warrants will be non-redeemable and exercisable on a cashless basis. The warrants will not be transferable, assignable or salable until 30 days after the completion of our initial business combination.