Proceeds in Trust. The net proceeds of the Offering and a sufficient portion of the proceeds of the sale of the Private Units, shall be deposited into the Trust Account, such that the amount in trust equals $10.00 per Firm Unit sold in the Offering. If the Over-Allotment Option is exercised, all the proceeds of such exercise shall be deposited into the Trust Account, such that the amount in trust equals $10.00 per Public Share sold in the Offering. There will be no underwriting fees or commissions due with respect to the issuance of the Private Placement Units.
Appears in 2 contracts
Sources: Underwriting Agreement (New America Acquisition I Corp.), Underwriting Agreement (New America Acquisition I Corp.)