Authorization Purchase and Sale Terms of the Sponsor Warrants. A. Authorization of the Sponsor Warrants. The Company has duly authorized the issuance and sale of the Sponsor Warrants to the Purchaser.
Authorization Purchase and Sale Terms of the Sponsor Warrants. A. Authorization of the Sponsor Warrants. The Company has duly authorized the issuance and sale of the Sponsor Warrants to the Purchaser. B. Purchase and Sale of the Sponsor Warrants. (i) 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 "Initial Closing Date"), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, 3,333,333 Sponsor Warrants at a price of $1.50 per warrant for an aggregate purchase price of $5,000,000 (the "Purchase Price"), which shall be paid by wire transfer of immediately available funds to the Company at least one business day prior to the Initial Closing Date in accordance with the Company's wiring instructions. On the Initial Closing Date, upon receipt by the Company of the payment by the Purchaser of the Purchase Price by wire transfer of immediately available funds to the Company, the Company, at its option, shall deliver a certificate evidencing the Sponsor Warrants purchased on such date duly registered in the Purchaser's name to the Purchaser or effect such delivery in book-entry form. (ii) 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 Initial 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 300,000 Sponsor Warrants at a price of $1.50 per warrant for an aggregate purchase price of up to $450,000 (if the over-allotment option in connection with the Public Offering is exercised in full) (the "Over-allotment Purchase Price"), which shall be paid by wire transfer of immediately available funds to the Company at least one day prior to the Over-allotment Closing Date in accordance with the Company's wiring instructions. On the Over-allotment Closing Date, following receipt by the Company of the payment by the Purchaser of the Over-allotment Purchase Price by wire transfer of immediately available funds to the Company, the Company shall, at its option, deliver a certificate evidencing the Sponsor Warrants purchased on such date duly registered in the Purchaser's name to the Purchaser or effect such ...
Authorization Purchase and Sale Terms of the Sponsor Warrants
