Regalwood Global Energy Ltd entered into a warrant purchase agreement with CIEP Sponsor Ltd for issuance of 5,333,333 warrants at a price of $1.50 per warrant for gross proceeds of $8,000,000 on October 2, 2017. The warrants are exercisable at a price of $11.50 or additional amounts of warrants if the underwriters exercise their over-allotment option, up to 600,000 private placement warrants if the underwriters in the offering exercise their over-allotment option in full. The warrants are exercisable 30 days after the completion of its initial business combination and 12 months from the closing of the transaction. Once the warrants become exercisable, the outstanding warrants can be redeemable if, and only if, the closing price of our ordinary shares equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which we send the notice of redemption to the warrant holders. The warrant will not be transferable.