E.Merge Technology Acquisition Corp. announced it has entered into a subscription agreement with E.Merge Technology Sponsor Llc for a private placement of aggregate of 1,200,000 units at a price of CAD 10.00 per unit for the gross proceeds of CAD 12,000,000 on July 30, 2020. Each unit consists of one class A common share and one third of one warrant. Each warrant can be exercised to acquire one common share at a price of CAD 11.50 per share for a period of one years from the closing of its initial public offering of units. The shares issued are subject to a hold period of 30 days after the completion of the its initial Business Combination.