Private Units definition

Private Units means (x) the Units purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO and (y) the additional Units that may be purchased in connection with the exercise of the over-allotment option by the underwriters in the IPO as described in the Registration Statement; (vi) “Registration Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii) “Trust Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s IPO will be deposited.

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Private Units shall have the meaning given in the Recitals hereto.

Private Units means up to 235,000 Units, 220,000 of which the Sponsor is privately purchasing simultaneously with the consummation of the Company’s IPO and up to 15,000 Units that the Sponsor has agreed to purchase if the underwriters exercise their over-allotment option.

Examples of Private Units in a sentence

The Insider Shares include an aggregate of up to 1,300,000 Class B Ordinary Shares subject to forfeiture to the extent the Over-Allotment Option (as defined below) is not exercised in full, so that the Sponsor will collectively own 25.0% of the Company’s issued and outstanding Ordinary Shares after the Offering (excluding the sale of Private Units (as defined below) and assuming that the Sponsor does not purchase Public Units in the Offering).
The Sponsor shall have caused such portion of the purchase price for the Private Units to be purchased by it on the Initial Closing Date to be wired to the Trust Account, such that upon payment for the Public Units pursuant to this Agreement, the amount of cash in the Trust Account (without giving effect to any income earned thereon) will equal $10.00 per Public Unit outstanding as of the Initial Closing Date.
To cause the proceeds of the Offering and the sale of the Private Units held in the Trust Account to be used in accordance with the Trust Agreement.
The Company is not and, after giving effect to the offering of the Public Units and the Private Units and the application of the proceeds thereof as described in the General Disclosure Package and the Prospectus, will not be, required to register as an “investment company” or an entity “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940, as amended (the “Investment Company Act”), and the rules and regulations of the Commission thereunder.

More Definitions of Private Units

Private Units means the Units certain of the Investors are privately purchasing simultaneously with the consummation of the Company’s initial public offering.

Private Units means the up to 461,500 units various Investors are privately purchasing simultaneously with the consummation of the Company’s initial public offering.

Private Units is defined in the preamble to this Agreement.

Private Units means the Units the Investors are privately purchasing simultaneously with the consummation of the Company’s initial public offering.

Private Units means (x) the Units purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO, (y) the additional Units that will be purchased in a private placement upon the full or partial exercise of the underwriter’s over-allotment option for the Company’s IPO and (z) Units issued upon conversion of up to $500,000 in working capital loans made to the Company by the Insiders; (vii) “Registration Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (viii) “Trust Account” shall mean the trust account into which a portion of the net proceeds of the Company’s IPO will be deposited.

Private Units means 325,000 Units which the Sponsor is privately purchasing simultaneously with the consummation of the Company’s initial public offering.

Private Units means the Units that are being sold privately by the Company simultaneously with the consummation of the IPO; (vii) “Private Shares” means the Ordinary Shares underlying the Private Units; (viii) “Private Warrants” means the Warrants underlying the Private Units; (ix) “Trust Agreement” means the Investment Management Trust Agreement between the Company and Continental Stock Transfer & Trust Company being entered into in connection with the IPO and governing the use of funds held in the Trust Account; (x) “Trust Account” means the trust account into which a portion of the net proceeds of the IPO and sale of Private Securities will be deposited; (xi) “Registration Statement” means the Company’s registration statement on Form S-1 (SEC File No. 333-258221) filed with the Securities and Exchange Commission; and (xii) “Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).