Common use of Partial or No Exercise of the Over-allotment Option Clause in Contracts

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 16 contracts

Samples: Securities Subscription Agreement (Pono Capital Two, Inc.), Global Star Acquisition Inc., Benessere Capital Acquisition Corp.

AutoNDA by SimpleDocs

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 187,500 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 5 contracts

Samples: Parsec Capital Acquisitions Corp., Murphy Canyon Acquisition Corp., PHP Ventures Acquisition Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 750,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (Shares, not including (i) any private placement units that are expected to be purchased at the closing shares of the IPO, (ii) shares of Company’s Class A common stock stock, par value $0.0001 per share (the “Class A Common Stock” and, together with the Class B Common Stock, the “Common Stock”), issuable upon exercise of any warrants or (iii) any shares of Class A common stock Common Stock purchased by Subscriber in the IPO or in the aftermarket) , equal to twenty percent (20% %) of the issued and outstanding shares of the Company’s common stock Common Stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 4 contracts

Samples: Agreement (Yellowstone Acquisition Co), Category Leader Partner Corp 1, Callodine Acquisition Corp

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 1,500,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (Shares, not including (i) any private placement units that are expected to be purchased at the closing shares of the IPO, (ii) shares of Company’s Class A common stock stock, par value $0.0001 per share (the “Class A Common Stock” and, together with the Class B Common Stock, the “Common Stock”), issuable upon exercise of any warrants or (iii) any shares of Class A common stock Common Stock purchased by the Subscriber in the IPO or in the aftermarket) , equal to 20% of the issued and outstanding shares of the Company’s common stock Common Stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 4 contracts

Samples: Capitol Investment Corp. VII, Capitol Investment Corp. VI, Capitol Investment Corp. VI

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 1,125,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (Shares, not including (i) any private placement units that are expected to be purchased at the closing shares of the IPO, (ii) shares of Company’s Class A common stock stock, par value $0.0001 per share (the “Class A Common Stock” and, together with the Class B Common Stock, the “Common Stock”), issuable upon exercise of any warrants or (iii) any shares of Class A common stock Common Stock purchased by Subscriber in the IPO or in the aftermarket) , equal to twenty percent (20% %) of the issued and outstanding shares of the Company’s common stock Common Stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 4 contracts

Samples: East Resources Acquisition Co, Warrior Technologies Acquisition Co, Warrior Technologies Acquisition Co

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock ordinary shares issuable upon exercise of any warrants or (iiiii) shares of Class A common stock ordinary shares purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock ordinary share immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 3 contracts

Samples: Aura Fat Projects Acquisition Corp, Aura Fat Projects Acquisition Corp, Fat Projects Acquisition Corp

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 1,125,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (Shares, not including (i) any private placement units that are expected to be purchased at the closing shares of the IPO, (ii) shares of Company’s Class A common stock Common Stock, par value $0.0001 per share (the “Class A Common Stock” and, together with the Class B Common Stock, the “Common Stock”), issuable upon exercise of any warrants or (iii) any shares of Class A common stock Common Stock purchased by Subscriber in the IPO or in the aftermarket) , equal to twenty percent (20% %) of the issued and outstanding shares of the Company’s common stock Common Stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 3 contracts

Samples: Lux Health Tech Acquisition Corp., Stillwater Growth Corp. I, Lux Health Tech Acquisition Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 150,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased prior to or at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise of any warrants or (iii) shares of Class A common stock any Ordinary Shares purchased by Subscriber (and all other initial shareholders prior to the IPO, if any) in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Ordinary Shares immediately following the IPO (excluding private placement units that are expected to be purchased at the closing in each case, not including Class A ordinary shares issuable upon exercise of the IPO and securities expected to be issued to the underwriters for the IPOany warrants).

Appears in 2 contracts

Samples: RichSpace Acquisition Corp., RichSpace Acquisition Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Sharesthe Shares (such transferees, the “Initial Stockholders”)) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 Shares and 937,500 Shares, pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders Initial Stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise of any warrants or (iii) shares of any Class A common stock ordinary shares, par value $0.0001 per share (the “Class A Ordinary Shares”, together with the Class B Ordinary Shares, the “Ordinary Shares”) purchased by Subscriber or any other Initial Stockholder in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Shares immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 2 contracts

Samples: Innovative International Acquisition Corp., Innovative International Acquisition Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Sharesthe Shares (such transferees, the “Initial Shareholders”)) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 Shares and 750,000 Shares, pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders Initial Shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise of any warrants or (iii) any shares of Class A common stock ordinary shares, par value $0.0001 per share (the “Class A ordinary shares”, together with the Class A ordinary shares, the “Class A Ordinary Shares”) purchased by Subscriber or any other Initial Shareholder in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Shares immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 2 contracts

Samples: Crypto 1 Acquisition Corp, Crypto 1 Acquisition Corp

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 75,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased prior to or at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise of any warrants or (iii) shares of Class A common stock any Common Stocks purchased by Subscriber (and all other initial shareholders prior to the IPO, if any) in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Common Stocks immediately following the IPO (excluding private placement units that are expected to be purchased at the closing in each case, not including Class A Common Stocks issuable upon exercise of the IPO and securities expected to be issued to the underwriters for the IPOany warrants).

Appears in 2 contracts

Samples: JJ Opportunity Corp., JJ Opportunity Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 750,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 2 contracts

Samples: Canna-Global Acquisition Corp, Maquia Capital Acquisition Corporation

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Sharesthe Shares (such transferees, the “Initial Stockholders”)) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 Shares and 1,125,000 Shares, pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders Initial Stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise of any warrants or (iii) shares of any Class A common stock ordinary shares, par value $0.0001 per share (the “Class A Ordinary Shares”, together with the “Class B Ordinary Shares”, the “Ordinary Shares”) purchased by Subscriber or any other Initial Stockholder in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Shares immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 2 contracts

Samples: Semper Paratus Acquisition Corp, Semper Paratus Acquisition Corp

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 300,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased prior to or at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise conversion of any warrants or (iii) shares of Class A common stock any Common Stocks purchased by Subscriber (and all other initial shareholders prior to the IPO, if any) in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Common Stocks immediately following the IPO (excluding private placement units that are expected to be purchased at the closing in each case, not including Class A common stocks issuable upon exercise of the IPO and securities expected to be issued to the underwriters for the IPOany warrants).

Appears in 1 contract

Samples: JJ Opportunity Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 562,500 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased prior to or at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise of any warrants or (iii) shares of Class A common stock any Common Stock purchased by Subscriber (and all other initial stockholders prior to the IPO, if any) in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Common Stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Letter Agreement (Gaming & Hospitality Acquisition Corp.)

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 187,500 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) ordinary shares of Class A common stock issuable upon exercise of any warrants or (iii) ordinary shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding ordinary shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: AI Transportation Acquisition Corp

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 330,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased prior to or at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise of any warrants or (iii) shares of Class A common stock any Ordinary Shares purchased by Subscriber (and all other initial shareholders prior to the IPO, if any) in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Ordinary Shares immediately following the IPO (excluding private placement units that are expected to be purchased at the closing in each case, not including Class A Shares issuable upon exercise of the IPO and securities expected to be issued to the underwriters for the IPOany warrants).

Appears in 1 contract

Samples: Letter Agreement (TradeUP 88 Corp.)

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees Subscribers of Shares) shall forfeit and surrender to the Company without consideration any and all rights to such number of Shares (up to an aggregate of 375,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock Ordinary Shares issuable upon exercise of any warrants or (iii) shares of Class A common stock Ordinary Shares purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Class A Ordinary Shares immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Golden Ventures (Golden Ventures Acquisition Corp)

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 300,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased prior to or at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise of any warrants or (iii) shares of Class A common stock any Common Stocks purchased by Subscriber (and all other initial shareholders prior to the IPO, if any) in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Common Stocks immediately following the IPO (excluding private placement units that are expected to be purchased at the closing in each case, not including Class A common stocks issuable upon exercise of the IPO and securities expected to be issued to the underwriters for the IPOany warrants).

Appears in 1 contract

Samples: JJ Opportunity Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 480,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Stellaris Growth Acquisition Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 225,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Cetus Capital Acquisition Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the Company’s IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit surrender for cancellation any and all rights to such number of Shares (up to an aggregate of 375,000 656,250 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeituresurrender, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) class A ordinary shares of Class A common stock issuable upon exercise of any warrants warrants, or (iii) class A ordinary shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 2020.0% of the issued and outstanding ordinary shares of the Company’s common stock Company immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters underwriter for the IPO).

Appears in 1 contract

Samples: Founder Share Subscription Agreement (InFinT Acquisition Corp)

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (orand, if applicable, it and any transferees transferee of its Purchased Shares) shall automatically forfeit at the time such Over-allotment Option expires (or earlier if the underwriter of the IPO waives its ability to exercise such Over-allotment Option) any and all rights to such number of Purchased Shares (up to an aggregate of 375,000 326,100 Purchased Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if anyany such transferees) will own an aggregate number of Class B Ordinary Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock Ordinary Shares issuable upon exercise of any warrants or (iii) shares of Class A common stock any securities purchased by the Subscriber in the IPO or in the aftermarket) equal to 208.52% of the issued and outstanding shares of the Company’s common stock Ordinary Shares immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Israel Amplify Program Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the Company’s IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit surrender for cancellation any and all rights to such number of Shares (up to an aggregate of 375,000 760,837 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeituresurrender, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) class A ordinary shares of Class A common stock issuable upon exercise of any warrants warrants, or (iii) class A ordinary shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 2020.0% of the issued and outstanding ordinary shares of the Company’s common stock Company immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters underwriter for the IPO).

Appears in 1 contract

Samples: Founder Share Subscription Agreement (InFinT Acquisition Corp)

AutoNDA by SimpleDocs

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants units or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Broad Capital Acquisition Corp

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 375,500 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Liberty Resources Acquisition Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the Company’s IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit surrender for cancellation any and all rights to such number of Shares (up to an aggregate of 375,000 187,500 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeituresurrender, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) class A ordinary shares of Class A common stock issuable upon exercise of any warrants pursuant to the rights, or (iii) class A ordinary shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 2020.0% of the issued and outstanding ordinary shares of the Company’s common stock Company immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters underwriter for the IPO).

Appears in 1 contract

Samples: Subscription Agreement (Eureka Acquisition Corp)

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 150,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased prior to or at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise of any warrants or (iii) shares of Class A common stock any Ordinary Shares purchased by Subscriber (and all other initial shareholders prior to the IPO, if any) in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Ordinary Shares immediately following the IPO (excluding private placement units that are expected to be purchased at the closing in each case, not including Class A Shares issuable upon exercise of the IPO and securities expected to be issued to the underwriters for the IPOany warrants).

Appears in 1 contract

Samples: Letter Agreement (TradeUP Global Corp)

Partial or No Exercise of the Over-allotment Option. In Subject to Section 3.3 below, in the event the Over-allotment Option granted to the underwriters underwriter of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (orand, if applicable, it and any transferees transferee of its Purchased Shares) shall automatically forfeit at the time such Over-allotment Option expires (or earlier if the underwriter of the IPO waives its ability to exercise such Over-allotment Option) any and all rights to such number of Purchased Shares (up to an aggregate of 375,000 [ ] Purchased Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if anyany such transferees) will own an aggregate number of Class B Ordinary Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock Ordinary Shares issuable upon exercise of any warrants or (iii) shares of Class A common stock any securities purchased by the Subscriber in the IPO or in the aftermarket) equal to 20[ ]% of the issued and outstanding shares of the Company’s common stock Ordinary Shares immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Israel Amplify Program Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 300,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Securities Subscription Agreement (Global Star Acquisition Inc.)

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO (the “Underwriters”) is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees transferee of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 750,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock stock, par value $0.0001 per share, of the Company (“Class A Shares”) issuable upon exercise of any warrants or (iii) shares of warrants, any Class A common stock Shares issued to the representative of the Underwriters in connection with the IPO or any securities purchased by Subscriber or the representative of the Underwriters in connection with the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Securities Subscription Agreement (Twelve Seas Investment Co IV TMT)

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock shares issuable upon exercise of any warrants or (iii) shares of Class A common stock shares purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding common shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Energem Corp

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 937,500 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased prior to or at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise of any warrants or (iii) shares of Class A common stock any Ordinary Shares purchased by Subscriber (and all other initial shareholders prior to the IPO, if any) in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Ordinary Shares immediately following the IPO (excluding private placement units that are expected to be purchased at the closing in each case, not including Class A Shares issuable upon exercise of the IPO and securities expected to be issued to the underwriters for the IPOany warrants).

Appears in 1 contract

Samples: Letter Agreement (Learn CW Investment Corp)

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 281,250 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: DUET Acquisition Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 326,250 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: BCGF Acquisition Corp.

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the representative(s) of the underwriters of the Company’s IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit surrender for cancellation any and all rights to such number of Shares (up to an aggregate of 375,000 700,000 Class B Shares and 1,050,000 Class C Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeituresurrender, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) ordinary shares of Class A common stock issuable upon exercise of any warrants or (iii) any ordinary shares of Class A common stock purchased by Subscriber in the Company’s IPO or in the aftermarket) equal to 20% of the issued and outstanding ordinary shares of the Company’s common stock Company immediately following the IPO.surrender, the Subscriber (and all other initial shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including ordinary shares issuable upon exercise of any warrants or any ordinary shares purchased by Subscriber in the Company’s IPO (excluding private placement units that are expected or in the aftermarket) equal to be purchased at the closing 30% of the IPO issued and securities expected to be issued to outstanding ordinary shares of the underwriters for Company immediately following the IPO).

Appears in 1 contract

Samples: 1.12 Acquisition Corp

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to at least 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: Mobiv Acquisition Corp

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 [ ] Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the closing of the IPO and securities expected to be issued to the underwriters for the IPO).

Appears in 1 contract

Samples: PROTONIQ Acquisition Corp

Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters underwriter of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 375,000 843,750 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including (i) any private placement units that are expected to be purchased prior to or at the closing of the IPO, (ii) shares of Class A common stock Shares issuable upon exercise of any warrants or (iii) shares of Class A common stock any Ordinary Shares purchased by Subscriber (and all other initial shareholders prior to the IPO, if any) in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock Ordinary Shares immediately following the IPO (excluding private placement units that are expected to be purchased at the closing in each case, not including Class A Shares issuable upon exercise of the IPO and securities expected to be issued to the underwriters for the IPOany warrants).

Appears in 1 contract

Samples: Letter Agreement (Think Elevation Capital Growth Opportunities)

Time is Money Join Law Insider Premium to draft better contracts faster.