PRIVATE PLACEMENT UNITS PURCHASE AGREEMENT
THIS PRIVATE PLACEMENT UNITS PURCHASE AGREEMENT, dated as of August 26, 2020 (as it may from time to time be amended, this Agreement), is entered into by and between Burgundy Technology Acquisition Corporation, a Cayman Islands exempted company (the Company), and Burgundy Technology Sponsor Limited, a Jersey limited company (the Purchaser).
The Company intends to consummate an initial public offering of the Companys units (the Public Offering), each unit consisting of one Class A ordinary share of the Company, par value $0.0001 per share (each, a Share), and one-half of one redeemable warrant (each, a Unit);
Each whole warrant entitles the holder to purchase one Share at an exercise price of $11.50 per Share; and
The Purchaser has agreed to purchase, at a price of $10.00 per unit, an aggregate of 950,000 Units (or up to 1,092,000 Units if the over-allotment option in connection with the Public Offering is exercised in full) (the Private Placement Units).
NOW THEREFORE, in consideration of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:
Section 1. Authorization, Purchase and Sale; Terms of the Private Placement Units.
A. Authorization of the Private Placement Units. The Company has duly authorized the issuance and sale of the Private Placement Units to the Purchaser.
B. Purchase and Sale of the Private Placement Units.
(i) Simultaneously with the consummation of the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company (the Initial Closing Date), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, an aggregate of 950,000 Private Placement Units at a price of $10.00 per Unit for an aggregate purchase price of $9,500,000 (the Purchase Price). Purchaser shall (a) pay $7,500,000 of the Purchase Price by wire transfer of immediately available funds to the trust account (the Trust Account) maintained by Continental Stock Transfer & Trust Company, acting as trustee (Continental) and (b) pay $2,000,000 of the Purchase Price by wire transfer of immediately available funds to the operating account maintained by the Company (the account details of which have been separately provided to the Purchaser), no later than one (1) business day prior to the date of the consummation of the Public Offering. In the event that the Public Offering is not consummated, the Purchase Price shall be returned to the Purchaser. On the Initial Closing Date, upon the payment by the Purchaser of the Purchase Price, the Company, at its option, shall deliver a certificate evidencing the Private Placement Units purchased on such date duly registered in the Purchasers name to the Purchaser or effect such delivery in book-entry form.