Authorization Purchase and Sale Terms of the Private Placement Units Clause Samples

This clause defines the parties' agreement regarding the authorization, purchase, and sale of private placement units, outlining the terms under which these units are offered and acquired. It typically specifies the number of units involved, the purchase price, payment procedures, and any conditions precedent to the transaction. By clearly setting out these terms, the clause ensures both parties understand their rights and obligations, thereby reducing the risk of disputes and facilitating a smooth private placement process.
Authorization Purchase and Sale Terms of the Private Placement Units. A. Authorization of the Private Placement Units. The Company has duly authorized the issuance and sale of the Private Placement Units, including the Shares and Private Placement Warrants underlying the Private Placement Units, to the Purchaser.
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Authorization Purchase and Sale Terms of the Private Placement Units 
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Related to Authorization Purchase and Sale Terms of the Private Placement Units

  • Purchase and Sale of the Private Placement Units The undersigned hereby commits to purchase an aggregate of 125,000 Private Placement Units of the Company (“Initial Units”) at $10.00 per Initial Unit for an aggregate purchase price of $1,250,000 (the “Initial Purchase Price”). Additionally, if the underwriters in the IPO (“Underwriters”) exercise their over-allotment option in full or in part, the undersigned further commits to purchase up to an additional 10,714 Private Placement Units (“Additional Units”) at $10.00 per Additional Unit, for an aggregate purchase price of up to $107,140 (the “Over-Allotment Purchase Price” and together with the Initial Purchase Price, the “Purchase Price”). On the date of the consummation of the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company (the “IPO Closing Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, an aggregate of 125,000 Initial Units for the Initial Purchase Price. On the IPO Closing Date, the Initial Purchase Price shall be paid to the Company and the Company shall effect delivery of the Initial Units to the undersigned (or its designees) in book-entry form. On the date of the consummation of the closing of the over-allotment option in connection with the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company (each such date, an “Over-allotment Closing Date,” and each Over-allotment Closing Date (if any) and the IPO Closing Date being sometimes referred to herein as a “Closing Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, up to an aggregate of 10,714 Additional Units, in the same proportion as the amount of the over-allotment option that is exercised, at a price of $10.00 per unit for the Over-Allotment Purchase Price. On the Over-allotment Closing Date, the Over-Allotment Purchase Price shall be paid to the Company and the Company shall effect delivery of the Additional Units to the undersigned (or its designees) in book-entry form.

  • Authorization of the Private Placement Units The Company has duly authorized the issuance and sale of the Private Placement Units to the Purchaser.