Acropolis Infrastructure Acquisition Corp. announced that it expects to receive $11 million in funding from Acropolis Infrastructure Acquisition Sponsor L.P.

Acropolis Infrastructure Acquisition Corp. announced a private placement of an aggregate of 7,333,333 warrants at a price of $1.50 per warrant for gross proceeds of $11,000,000 on March 17, 2021. The company will issue 8,133,333 warrants for proceeds of $12,200,000 if the over-allotment option is exercised in full.

Each private placement warrant is exercisable to purchase one share of Class A common stock at $11.50 per share. The transaction will close simultaneously with the closing of public offering. The transaction will include participation from returning investor Acropolis Infrastructure Acquisition Sponsor, L.P. The warrants will become exercisable on the later of 30 days after the completion of its initial business combination or 12 months from the closing of public offering.

The warrants will expire at 5:00 p.m., New York City time, on the fifth anniversary of the completion of its initial business combination, or earlier upon redemption or liquidation. The private placement warrants purchased by the investor will not be exercisable more than five years. The warrants are non-redeemable in nature.