CC Neuberger Principal Holdings III (NYSE:PRPC.U) that it has entered into a warrants purchase agreement for a private placement of 9,000,000 warrants at a price of $1.00 per warrant with Cc Neuberger Principal Holdings Iii Sponsor Llc for gross proceeds of $9,000,000 on January 14, 2021. The company will grant an over-allotment option to purchase 10,050,000 warrants. Each warrant exercisable to purchase one share of its Class A common stock at $11.50 per share, at a price of $1 per warrant, in a private placement to occur concurrently with the closing of this offering. The warrants will expire five years after the completion of a business combination or earlier upon redemption or liquidation. The private placement warrants will be non-redeemable for cash and exercisable on a cashless basis so long as the investor or its permitted transferees hold them. Once the warrants become exercisable, the company may redeem the outstanding warrants subject to conditions. The securities are subject to a hold period of 30 days.