Initial Stockholder Ownership Sample Clauses

Initial Stockholder Ownership. If the Over-allotment Option is not exercised or is not exercised in full, then promptly following the earlier to occur of the expiration or termination of the Over-allotment Option, the Company will cause Fortune Management to forfeit and return to the Company for cancellation shares of Common Stock in an aggregate amount (up to 750,000 shares of Common Stock) sufficient to cause the Initial Stockholders to maintain ownership, in the aggregate, of 20% of the outstanding Common Stock after giving effect to the Offering and the exercise, if any, of the Over-allotment Option. For the avoidance of doubt, if the Over-allotment Option is exercised in full, Fortune Management shall not be required to forfeit any shares of Common Stock pursuant to this subsection.