Unit Private Placement Proceeds Clause Samples
The 'Unit Private Placement Proceeds' clause defines how funds raised from the private placement of units—typically a combination of shares and warrants—are to be handled and allocated. In practice, this clause specifies the amount of money raised, the timing of the placement, and the intended use of the proceeds, such as funding business operations, acquisitions, or covering offering expenses. Its core function is to ensure transparency and accountability regarding the management and application of funds received from private investors, thereby providing assurance to all parties about how these proceeds will be utilized.
Unit Private Placement Proceeds. On or prior to the Closing Date, the Company shall have caused the applicable proceeds from the Unit Private Placement to be deposited in the Trust Account pursuant to the terms of the Purchase Agreements.
Unit Private Placement Proceeds. On or prior to the Effective Date, the Company shall have deposited $5,750,000 of the proceeds from the Unit Private Placement in the Trust Account or to a separate escrow account maintained by CST who will transfer such amount to the Trust Account on the Closing Date and shall provide the Representative with evidence of the same. The Unit Private Placement shall be consummated on the Closing Date.
Unit Private Placement Proceeds. On or prior to the Effective Date, the Company shall have deposited the proceeds from the Unit Private Placement in the Trust Account or to a separate escrow account maintained by Ellenoff ▇▇▇▇▇▇▇▇ & Schole LLP, counsel to the Company (“EGS”), who will transfer such amount to the Trust Account on the Closing Date and shall provide the Representative with evidence of the same. The Representatives shall also deposit the proceeds for its portion of the Unit Private Placement in the Trust Account on or prior to the Closing Date. The Unit Private Placement shall be consummated on the Closing Date.
Unit Private Placement Proceeds. On the Closing Date, the Company shall cause to be deposited proceeds from the Unit Private Placement into the Trust Account, or such other amount such that the amount of the funds in the Trust Account shall be $10.00 per Public Share sold in the Offering. On the Option Closing Date, if any, the Company shall cause to be deposited an amount of additional proceeds from the additional Placement Units sold on the Option Closing Date into the Trust Account such that the amount of funds in the Trust Account shall be $10.00 per Public Share sold in the Offering.
Unit Private Placement Proceeds. On or prior to the Effective Date, the Company shall deposit all of the proceeds from the portion of the Unit Private Placement being purchased by the Sponsor in the Trust Account and shall provide the Representative with evidence of the same. The Unit Private Placement shall be consummated on the Closing Date or the Option Closing Date, as applicable.
Unit Private Placement Proceeds. On the Closing Date, the Company shall cause to be deposited $3,150,000 (or $3,431,250 if the Underwriters exercise their over-allotment option in full) of proceeds from the Unit Private Placement into the Trust Account, or such other amount such that the amount of the funds in the Trust Account shall be $10.175 per Unit sold in the Offering. On the Option Closing Date, if any, the Company shall cause to be deposited an amount of additional proceeds from the additional Private Units sold on the Option Closing Date into the Trust Account such that the amount of funds in the Trust Account shall be $10.175 per Unit sold in the Offering.
Unit Private Placement Proceeds. On the Closing Date, the Company shall cause to be deposited $1,400,000 (regardless of whether or not the underwriters’ over-allotment option is exercised) of proceeds from the Unit Private Placement into the Trust Account.
Unit Private Placement Proceeds. On the Closing Date, the Company shall cause to be deposited $1,400,000 (regardless of whether or not the underwriters’ over-allotment option is exercised) of proceeds from the Unit Private Placement into the Trust Account.
Unit Private Placement Proceeds. On or prior to the Effective Date, the Company shall have deposited $11,500,000 of the proceeds from the Unit Private Placement in the Trust Account or to Ellenoff ▇▇▇▇▇▇▇▇ & Schole, LLP (“EG&S”) who will transfer such amount to the Trust Account on the Closing Date and shall provide the Representative with evidence of the same. The Unit Private Placement shall be consummated on the Closing Date.