Terms of the Units and Placement Warrants. 8.1. The Units and their component parts are substantially identical to the units to be offered in the IPO except that: (i) the Units and component parts will be subject to transfer restrictions described in the Insider Letter, (ii) the Placement Warrants will be non-redeemable, and may be exercisable on a “cashless” basis at the election of the holder and (iii) the Units and component parts are being purchased pursuant to an exemption from the registration requirements of the Securities Act and will become freely tradable only after the expiration of the lockup described above in clause (i) and they are registered pursuant to the Registration Rights Agreement to be signed on or before the date of the Prospectus or an exemption from registration is available.
Appears in 4 contracts
Samples: Private Placement Unit Subscription Agreement (Abri SPAC I, Inc.), Private Placement Unit Subscription Agreement (Abri SPAC I, Inc.), Unit Subscription Agreement (Globis Acquisition Corp.)
