Purchase Option Clause Example with 65 Variations from Business Contracts
This page contains Purchase Option clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners Acquisition Corp. ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on the five year anniversary of the effective date ("Effective Date") of the Co...mpany's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) units ("Units") of the Company, each Unit consisting of one share of common stock of the Company, par value $0.0001 per share ("Common Stock"), one right ("Right(s)") entitling the Holder to receive one tenth (1/10) of a share of Common Stock upon consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Each Warrant is the same as the warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context.View More
Variations of a "Purchase Option" Clause from Business Contracts
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), Chardan Capital Markets, LLC (the "Holder"), as registered owner of this Purchase Option, to Big Rock Partners AlphaTime Acquisition Corp. ("Company"), Corp (the "Company"), Holder is entitled, at any time or from time to time upon the later of consummation by the consummation Company of a Business Combination or _____________, 2018 ("Commencement (the "Commencement Date"), and u...ntil, at or before 5:00 p.m., New York City local time, on the earlier of the five year anniversary of the effective date ("Effective Date") of the Registration Statement and the day immediately prior to the day on which the Company and all of its successors have been dissolved, but not thereafter (the "Expiration Date"), as described in the Company's registration statement ("Registration (the "Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), in the Company's initial public offering (the "Offering"), to subscribe for, purchase and receive, in whole or in part, up to five hundred sixty eight thousand (500,000) (68,000) units ("Units") of the Company, each Unit consisting of one share of common stock of the Company, (1) ordinary share, par value $0.0001 per share ("Common Stock"), share, of the Company ("Shares"), one right ("Right(s)") redeemable (1) warrant ("Warrants"), each Warrant entitling the Holder to receive one tenth (1/10) of a share of Common Stock upon consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant holder thereof to purchase one share Share and one (1) right ("Rights"), each right entitling the holder thereof to purchase one-tenth (1/10) of Common Stock. one Share. Each Right is Warrant has the same terms as the right included in the Units being registered for sale to the public by way of the Registration Statement. Each Warrant is the same as the warrant warrants included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If (the "Public Warrants"), except as set forth herein. Each Right has the Expiration Date is a day on which banking institutions are authorized same terms as the rights included in the Units being registered for sale to the public by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms way of Registration Statement (the "Public Rights"), except as set forth herein. Notwithstanding anything to the contrary, the original Holder of this Purchase Option agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year five-year anniversary of the Effective Date. commencement of sales of the Offering. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Shares, Warrants and Warrants) Rights) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. Maxim Group, LLC ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners AGBA Acquisition Corp. Limited ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 [●] ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on the five year anniversary earlier ...of the effective date ("Effective Date") liquidation of the Company's Trust Account (as described in the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), in the Company's initial public offering ("Offering")) in the event the Company has not completed a Business Combination within the required time periods and [●], five years from the effective date ("Effective Date") of the Registration Statement ("Expiration Date"), but not thereafter ("Expiration Date"), thereafter, to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) Two Hundred And Seventy Six Thousand (276,000) units ("Units") of the Company, each Unit consisting of one (1) ordinary share of common stock of the Company, par value $0.0001 $0.001 per share ("Common Stock"), ("Ordinary Share(s)"), one (1) redeemable warrant to acquire one-half (1/2) of one Ordinary Share ("Warrant(s)"), and one (1) right ("Right(s)") entitling the Holder to receive one tenth one-tenth (1/10) of a share of Common Stock an Ordinary Share upon the consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Combination ("Right(s)"). Each Right is the same as the right included in the Units units being registered for sale to the public by way of the Registration Statement. Statement ("Public Rights"). Each Warrant is the same as the whole warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public (the "Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Ordinary Shares, Warrants and Warrants) Rights) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. Maxim Partners LLC ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners Acquisition Corp. ("Company"), Company, a British Virgin Islands company, Holder is entitled, at any time or from time to time upon on or after the later of the consummation of a Business Combination or _____________, 2018 ("Commencement Date"), and at or before 5:00 p.m., New York City local tim...e, on the five year first anniversary of the effective date ("Effective Date") of the Registration Statement ("Commencement Date"), (as described in the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), in Company's initial public offering ("Offering")) until five years from the Effective Date of the Registration Statement ("Expiration Date"), but not thereafter ("Expiration Date"), thereafter, to subscribe for, purchase and receive, in whole or in part, up to five three hundred seventy-five thousand (500,000) (375,000) units (or up to four hundred thirty-one thousand two hundred and fifty (431,250) units with full exercise of the over-allotment option in the offering) ("Units") of the Company, each Unit consisting of one (1) ordinary share of common stock of the Company, no par value $0.0001 per share ("Common Stock"), ("Ordinary Share(s)"), one right ("Right(s)") redeemable warrant ("Warrant(s)"), each whole Warrant entitling the Holder holder thereof to purchase one-half (1/2) of an Ordinary Share and one (1) right to receive one tenth one-tenth (1/10) of a share of Common Stock an Ordinary Share upon the consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Combination ("Right(s)"). Each Right is the same as the right included in the Units units being registered for sale to the public by way of the Registration Statement. Statement ("Public Rights"). Each Warrant is the same as the whole warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public (the "Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Ordinary Shares, Warrants and Warrants) Rights) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. Chardan Capital Markets, LLC ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners Welsbach Technology Metals Acquisition Corp. ("Company"), Corp., a Delaware corporation, Holder is entitled, at any time or from time to time upon the later of on or after the consummation of a the initial Business Combination or _____________, 2018 ("Commencement Date"), and at or befo...re 5:00 p.m., New York City local time, on the five year anniversary of the effective date ("Effective Date") of (as described in the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), in Company's initial public offering ("Offering")) until five years from the commencement of sales of the Offering ("Expiration Date"), but not thereafter ("Expiration Date"), thereafter, to subscribe for, purchase and receive, in whole or in part, up to five six hundred thousand (500,000) (600,000) units ("Units") of the Company, each Unit consisting of one (1) share of common stock of the Company, with a par value $0.0001 per share ("Common Stock"), and one (1) right ("Right(s)") entitling the Holder to receive one tenth one-tenth (1/10) of a share of Common Stock upon the consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Combination ("Right(s)"). Each Right is has the same terms as the right included in the Units being registered for sale to the public by way of the Registration Statement. Each Warrant is the same as the warrant included in the Units units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). Rights"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Stock and Warrants) Rights) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. Chardan Capital Markets, LLC ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners 8i Enterprises Acquisition Corp. Corp ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 September 27, 2019 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on ...the five year anniversary earlier of the effective date ("Effective Date") liquidation of the Company's Trust Account (as described in the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), in the Company's initial public offering ("Offering")) in the event the Company has not completed a Business Combination within the required time periods and March 27, 2024, five years from the effective date ("Effective Date") of the Registration Statement ("Expiration Date"), but not thereafter ("Expiration Date"), thereafter, to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) Three Hundred Forty Five Thousand (345,000) units ("Units") of the Company, each Unit consisting of one (1) ordinary share of common stock of the Company, no par value $0.0001 per share ("Common Stock"), ("Ordinary Share(s)"), one right ("Right(s)") (1) redeemable warrant ("Warrant(s)"), each Warrant entitling the Holder holder thereof to purchase one half of one Ordinary Share and one (1) right to receive one tenth one-tenth (1/10) of a share of Common Stock an Ordinary Share upon the consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Combination ("Right(s)"). Each Right is the same as the right included in the Units units being registered for sale to the public by way of the Registration Statement. Statement ("Public Rights"). Each Warrant is the same as the whole warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public (the "Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Ordinary Shares, Warrants and Warrants) Rights) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. Chardan Capital Markets, LLC ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners Mountain Crest Acquisition Corp. Corp ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 December 4, 20201 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on t...he five year anniversary earlier of the effective date ("Effective Date") liquidation of the Company's Trust Account (as described in the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), in the Company's initial public offering ("Offering")) in the event the Company has not completed a Business Combination within the required time periods and June 4, 2025, five years from the effective date ("Effective Date") of the Registration Statement ("Expiration Date"), but not thereafter ("Expiration Date"), thereafter, to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) Three Hundred and Forty-Five Thousand (345,000) units ("Units") of the Company, each Unit consisting of one (1) share of common stock of the Company, $0.0001 par value $0.0001 per share ("Common Stock"), Stock") and one (1) right ("Right(s)") entitling the Holder to receive one tenth one-tenth (1/10) of a share of Common Stock upon the consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Combination ("Right(s)"). Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Each Warrant is the same as the warrant included in the Units units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). Rights"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Stock and Warrants) Rights) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), Chardan Capital Markets, LLC (the "Holder"), as registered owner of this Purchase Option, to Big Rock Partners Acquisition Corp. ("Company"), Abri SPAC I, Inc.(the "Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 ("Commencement on or after the first anniversary of the effective dat...e of the Registration Statement as defined below (the "Commencement Date"), and until, at or before 5:00 p.m., New York City local time, on the earlier of the five year anniversary of the effective date ("Effective Date") of the Business Combination and the day immediately prior to the day on which the Company and all of its successors have been dissolved, but not thereafter (the "Expiration Date"), as described in the Company's registration statement ("Registration (the "Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), in the Company's initial public offering (the "Offering"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) Three Hundred Thousand (300,000) units ("Units") of the Company, Company (or up to 345,000 if the over-allotment is exercised in full), each Unit consisting of one (1) share of common stock of the Company, stock, par value $0.0001 per share ("Common Stock"), share, of the Company ("Share(s)") and one right ("Right(s)") (1) redeemable warrant ("Warrant(s)"), each Warrant entitling the Holder holder thereof to receive purchase one tenth (1/10) of a share of Common Stock Share upon the consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Combination. Each Warrant is the same as the whole warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the original Holder of this Purchase Option agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. commencement of sales of the Offering. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Shares and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. 1 Insert date that is one (1) year from the effective date of the registration statement. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), Chardan Capital Markets, LLC (the "Holder"), as registered owner of this Purchase Option, to Big Rock Partners Acquisition Corp. ("Company"), Abri SPAC I, Inc.(the "Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 ("Commencement on or after the first anniversary of the effective dat...e of the Registration Statement as defined below (the "Commencement Date"), and until, at or before 5:00 p.m., New York City local time, on the earlier of the five year anniversary of the effective date ("Effective Date") of the Business Combination and the day immediately prior to the day on which the Company and all of its successors have been dissolved, but not thereafter (the "Expiration Date"), as described in the Company's registration statement ("Registration (the "Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), in the Company's initial public offering (the "Offering"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) Three Hundred Thousand (300,000) units ("Units") of the Company, Company (or up to 345,000 if the over-allotment is exercised in full), each Unit consisting of one (1) share of common stock of the Company, stock, par value $0.0001 per share ("Common Stock"), share, of the Company ("Share(s)") and one right ("Right(s)") (1) redeemable warrant ("Warrant(s)"), each Warrant entitling the Holder holder thereof to receive purchase one tenth (1/10) of a share of Common Stock Share upon the consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Combination. Each Warrant is the same as the whole warrant included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the original Holder of this Purchase Option agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. commencement of sales of the Offering. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Shares and Warrants) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. ("Holder"), Chardan Capital Markets, LLC (the "Holder"), as registered owner of this Purchase Option, to Big Rock Partners Arisz Acquisition Corp. ("Company"), (the "Company"), Holder is entitled, at any time or from time to time upon the later of consummation by the consummation Company of a Business Combination or _____________, 2018 ("Commencement (the "Commencement Date"), and until, at ...or before 5:00 p.m., New York City local time, on the earlier of the five year anniversary of the effective date ("Effective Date") of the Registration Statement and the day immediately prior to the day on which the Company and all of its successors have been dissolved, but not thereafter (the "Expiration Date"), as described in the Company's registration statement ("Registration (the "Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), but not thereafter ("Expiration Date"), in the Company's initial public offering (the "Offering"), to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand (500,000) One Hundred Thousand (100,000) units (or up to One Hundred Fifteen Thousand (115,000) units with full exercise of the over-allotment option in the offering) ("Units") of the Company, each Unit consisting of one (1) share of common stock of the Company, stock, par value $0.0001 per share ("Common Stock"), share, of the Company ("Share(s)"), one right ("Right(s)") (1) warrant ("Warrant(s)"), each Warrant entitling the Holder holder thereof to purchase three-quarters of one Share and one (1) right to receive one tenth (1/10) one-twentieth (1/20) of a share of Common Stock Share upon the consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Combination ("Right(s)"). Each Right is has the same terms as the right rights included in the Units units being registered for sale to the public by way of the Registration Statement. Statement ("Public Rights"), except as set forth herein. Each Warrant is has the same terms as the warrant warrants included in the Units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms (the "Public Warrants"), except as set forth herein. Notwithstanding anything to the contrary, the original Holder of this Purchase Option agrees that it will not be permitted to exercise this Purchase Option or the Rights or the Warrants underlying this Purchase Option the Units after the five year anniversary of the Effective Date. commencement of sales of the Offering. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Shares, Warrants and Warrants) Rights) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. View More
Purchase Option. THIS CERTIFIES THAT, in consideration of $100 $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc. Univest Securities, LLC ("Holder"), as registered owner of this Purchase Option, to Big Rock Partners Acquisition Corp. UTXO Acquisition, Inc. ("Company"), Holder is entitled, at any time or from time to time upon the later of the consummation of a Business Combination or _____________, 2018 ("Commencement Date"), and at or before 5:00 p.m., New York City local time, on the five year anniver...sary earlier of the effective date ("Effective Date") liquidation of the Company's Trust Account (as described in the Company's registration statement ("Registration Statement") pursuant to which Units are offered for sale to the public ("Offering"), in the Company's initial public offering ("Offering")) in the event the Company has not completed a Business Combination within the required time periods and [●], five years from the effective date ("Effective Date") of the Registration Statement ("Expiration Date"), but not thereafter ("Expiration Date"), thereafter, to subscribe for, purchase and receive, in whole or in part, up to five hundred thousand Five Hundred Thousand (500,000) units ("Units") of the Company, each Unit consisting of one (1) share of common stock of the Company, Company's Class A Common Stock, par value $0.0001 per share ("Common Stock"), ("Class A Share(s)"), one half (1/2) of a redeemable warrant ("Warrant(s)"), each full Warrant to purchase one (1) Class A Share, and one (1) right ("Right(s)") entitling the Holder to receive one tenth one-tenth (1/10) of a share of Common Stock one (1) Class A Share upon the consummation of a Business Combination, and one-half of one warrant ("Warrant(s)"), each whole warrant to purchase one share of Common Stock. Each Right is the same as the right included in the Units being registered for sale to the public by way of the Registration Statement. Combination ("Right(s)"). Each Warrant is the same as the warrant included in the Units being registered for sale to the public by way of the Registration Statement (the "Public Warrants"). Each Right is the same as the right included in the units being registered for sale to the public by way of the Registration Statement ("Public Warrants"). Rights"). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, the Holder agrees that it will not be permitted to exercise this Purchase Option or the Warrants underlying this Purchase Option after the five year anniversary of the Effective Date. During the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $10.00 $11.50 per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and shares of Common Stock, Rights Class A Shares, Warrants and Warrants) Rights) to be received upon such exercise, shall be adjusted as therein specified. The term "Exercise Price" shall mean the initial exercise price or the adjusted exercise price, depending on the context. 1Date that is five years from the effective date of the registration statement. View More
