Concurrently with the closing of the IPO, the Company completed the Private Placement of Private Placement Warrants to Virgin Group Acquisition Sponsor II LLC at a purchase price of $ per Private Placement Warrant, generating gross proceeds to the Company of $. Each warrant is exercisable to purchase one share of the Company’s Class A Ordinary Shares at a price of $ per share. A portion of the purchase price of the Private Placement Warrants was added to the proceeds from the IPO and held in the trust account, such that $ is held in the trust account. If the Company does not complete its initial Business Combination within 24 months from the closing of the IPO, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless.