Common use of Additional Placement Units Clause in Contracts

Additional Placement Units. Simultaneously with the Closing of the Over-allotment Option, the Sponsor and Maxim shall purchase from the Company pursuant to the Unit Purchase Agreements an additional number of Placement Units (up to a maximum of 31,875 Placement Units in the aggregate), pro rata with the percentage of the Over-allotment Option exercised by the Representative, so that at least $10.20 per Unit sold to the public in the Offering is held in trust regardless of whether the over-allotment option is exercised in full or part (the “Additional Placement Units”), at a purchase price of $10.00 per Additional Placement Unit in a private placement (the “Additional Private Placement”). There will be no placement agent in the Additional Private Placement and no party shall be entitled to a placement fee or expense allowance from the sale of the Placement Securities.

Additional Placement Units. Simultaneously with the Closing of the Over-allotment Option, the Sponsor and Maxim shall purchase from the Company pursuant to the Unit Purchase Agreements an additional number of Placement Units (up to a maximum of 31,875 35,063 Placement Units in the aggregate), pro rata with the percentage of the Over-allotment Option exercised by the Representative, so that at least $10.20 per Unit sold to the public in the Offering is held in trust regardless of whether the over-allotment option is exercised in full or part (the “Additional Placement Units”), at a purchase price of $10.00 per Additional Placement Unit in a private placement (the “Additional Private Placement”). There will be no placement agent in the Additional Private Placement and no party shall be entitled to a placement fee or expense allowance from the sale of the Placement Securities.