Common use of Placement Shares Clause in Contracts

Placement Shares. Simultaneously with the Closing, TradeUP Acquisition Sponsor LLC and Tradeup INC. shall purchase from the Company pursuant to the Subscription Agreements (as defined in Section 2.24.2 hereof) an aggregate of 295,000 shares of Class A common stock (the “Placement Shares”) at a purchase price of $10.00 per Placement Share (the “Private Placement”). There will be no placement agent in the Private Placements and no party shall be entitled to a placement fee or expense allowance from the sale of the Placement Shares.

Placement Shares. Simultaneously with the Closing, TradeUP Acquisition Sponsor LLC and Tradeup INC. shall purchase from the Company pursuant to the Subscription Agreements (as defined in Section 2.24.2 hereof) an aggregate of 295,000 215,000 shares of Class A common stock (the “Placement Shares”) at a purchase price of $10.00 per Placement Share (the “Private Placement”). There will be no placement agent in the Private Placements and no party shall be entitled to a placement fee or expense allowance from the sale of the Placement Shares.