Common use of Additional Placement Units Clause in Contracts

Additional Placement Units. Simultaneously with the Option Closing, the Sponsor shall purchase from the Company pursuant to the Subscription Agreement (as defined in Section 2.23.2 hereof) an additional number of units (up to a maximum of 343,500 Units) (the “Additional Placement Units”), at a purchase price of $10.00 per Additional Placement Unit in a private placement (the “Additional Private Placement”). Each Additional Placement Unit shall be identical to the Units sold in the Offering except as disclosed in the Prospectus. Except as disclosed in registration statement, there will be no placement agent in the Additional Private Placement and no party shall be entitled to a placement fee or expense allowance from the sale of the Additional Private Securities.