Common use of Underwriters Purchase Option Clause in Contracts

Underwriters Purchase Option. The Company hereby agrees to issue and sell to the Representative (and/or its designees) on the Effective Date an option (the "Underwriters' Purchase Option") for the purchase of an aggregate of 1,000,000 Units (the "Underwriters' Units") for an aggregate purchase price of $100.00. Each of the Underwriters' Units is identical to the Initial Units except that the Warrants included in the Underwriters' Units (the "Underwriters' Warrants") have an exercise price of $6.25 per share (125% of the exercise price of the Warrants included in the Units sold to the public). The Underwriters' Purchase Option shall be exercisable, in whole or in part, commencing on the later of (i) one year from the Effective Date and (ii) the consummation of a Business Combination and expiring on the four-year anniversary of the Effective Date at an initial exercise price per Underwriters' Unit of $7.50 per Unit (125% of the initial public offering price of a Unit sold to the public). The Underwriters' Purchase Option, the Underwriters' Units, the Underwriters' Warrants and the shares of Common Stock issuable upon exercise of the Underwriters' Warrants are hereinafter referred to collectively as the "Underwriters' Securities." Delivery and payment for the Underwriters' Purchase Option shall be made at the Closing Time. The Company shall deliver to the Underwriters, upon payment therefor, certificates (if any) for the Underwriters' Purchase Option in the name or names and in such authorized denominations as the Representative may request.

Underwriters Purchase Option. The Company hereby agrees to issue and sell to the Representative (and/or its designees) on the Effective Date an option (the "Underwriters' Purchase Option") for the purchase of an aggregate of 1,000,000 750,000 Units (the "Underwriters' Units") for an aggregate purchase price of $100.00. Each of the Underwriters' Units is identical to the Initial Units except that the Warrants included in the Underwriters' Units (the "Underwriters' Warrants") have an exercise price of $6.25 per share (125% of the exercise price of the Warrants included in the Units sold to the public). The Underwriters' Purchase Option shall be exercisable, in whole or in part, commencing on the later of (i) one year from the Effective Date and (ii) the consummation of a Business Combination and expiring on the four-year anniversary of the Effective Date at an initial exercise price per Underwriters' Unit of $7.50 per Unit (125% of the initial public offering price of a Unit sold to the public). The Underwriters' Purchase Option, the Underwriters' Units, the Underwriters' Warrants and the shares of Common Stock issuable upon exercise of the Underwriters' Warrants are hereinafter referred to collectively as the "Underwriters' Securities." Delivery and payment for the Underwriters' Purchase Option shall be made at the Closing Time. The Company shall deliver to the Underwriters, upon payment therefor, certificates (if any) for the Underwriters' Purchase Option in the name or names and in such authorized denominations as the Representative may request.

Underwriters Purchase Option. The Company hereby agrees to issue and sell to the Representative (and/or its designees) on the Effective Date an option (the "Underwriters' Purchase Option") for the purchase of an aggregate of 1,000,000 Units (the "Underwriters' Units") for an aggregate purchase price of $100.00. Each of the Underwriters' Units is identical to the Initial Units except that the Warrants included in the Underwriters' Representative's Units (the "Underwriters' Warrants") have an exercise price of $6.25 per share (125% of the exercise price of the Warrants included in the Units sold to the public). The Underwriters' Purchase Option shall be exercisable, in whole or in part, commencing on the later of (i) one year from the Effective Date and (ii) the consummation of a Business Combination and expiring on the four-year anniversary of the Effective Date at an initial exercise price per Underwriters' Unit of $7.50 per Unit (125% of the initial public offering price of a Unit sold to the public). The Underwriters' Purchase Option, the Underwriters' Units, the Underwriters' Warrants and the shares of Common Stock issuable upon exercise of the Underwriters' Warrants are hereinafter referred to collectively as the "Underwriters' Securities." Delivery and payment for the Underwriters' Purchase Option shall be made at the Closing Time. The Company shall deliver to the Underwriters, upon payment therefor, certificates (if any) for the Underwriters' Purchase Option in the name or names and in such authorized denominations as the Representative may request.