Tortoise Acquisition Corp. II announced a private placement of 5,333,333 pre-paid warrants at a price of $1.50 per warrant for gross proceeds of $7,999,999.50 on September 10, 2020. If the over-allotment is exercised, the company shall issue and sell to the purchaser, and the purchaser shall purchase from the company, up to 5,933,333 warrants at a price of $1.50 per warrant for an aggregate purchase price of up to $8,899,999.50. The company has entered into warrants purchase agreement with the investor. The transaction will involve participation from Tortoise Borrower LLC. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the company, par value $0.0001 per share, at an exercise price of $11.50 per share. The warrants will be non-redeemable for cash by the company and will be exercisable on a cashless basis so long as they are held by TortoiseEcofin Borrower, LLC or its permitted transferees. The issuance of the warrants was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933. The transaction is expected to close on September 15, 2020, subject to customary closing conditions.