Exhibit
10.6


 


AlphaVest
Acquisition Corp 500


Fifth
Ave, Suite 938 


New
York, NY 10110


 


EarlyBirdCapital,
Inc.


366
Madison Avenue, 8th Floor


New
York, NY 10017


 


July
11, 2022


 


RE:
Securities Subscription Agreement


 


Ladies
and Gentlemen:


 


AlphaVest
Acquisition Corp, a Cayman Islands exempted company (the “Company,” “we” or “us”), is
pleased to accept the offer made by EarlyBirdCapital, Inc., a Delaware corporation (“Subscriber” or “you”),
to purchase 125,000 ordinary shares of the Company, par value $0.0001 per share (the “Shares”). The terms of the
sale by the Company of the Shares to Subscriber, and the Company and Subscriber’s agreements regarding the Shares, are as follows:


 


1.
Purchase of Securities.


 


1.1.
Purchase of Shares. In exchange for the payment by Subscriber on behalf of itself and/or its designees of $0.014 per share, or
an aggregate of $1,750 (the “Consideration”), the Company hereby issues the Shares to Subscriber, and Subscriber hereby
purchases the Shares from the Company, on the terms and subject to the conditions set forth in this Securities Subscription Agreement
(this “Agreement”). Concurrently with Subscriber’s execution of this Agreement, the Company shall, at its option,
deliver to Subscriber and/or its designees one or more certificates registered in the name of the Subscriber and/or its designees representing
the shares (the “Original Certificate”) or effect such delivery in book-entry form.


 


2.
Representations, Warranties and Agreements.


 


2.1.
Subscriber’s Representations, Warranties and Agreements. To induce the Company to issue the Shares to Subscriber, Subscriber
hereby represents and warrants to the Company and agrees with the Company as follows:


 


2.1.1.
Organization and Authority. Subscriber is a corporation, duly organized, validly existing and in good standing under the laws
of the State of Delaware, and possesses all requisite power and authority necessary to carry out the transactions contemplated by this
Agreement. This Agreement is a legal, valid and binding agreement of Subscriber, enforceable against Subscriber in accordance with its
terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting
the enforcement of creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement is
sought in a proceeding at law or in equity).


 




    	 



    	 



    

 








2.1.2.
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by Subscriber of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of Subscriber,
(ii) any agreement, indenture or instrument to which Subscriber is a party or (iii) any law, statute, rule, regulation, order, judgment
or decree to which Subscriber is subject.


 


2.1.3.
No Governmental Consents. No governmental, administrative or other third-party consents
or approvals are required, necessary or appropriate on the part of Subscriber in connection with the transactions contemplated by this
Agreement.


 


2.1.4.
Experience, Financial Capability and Suitability. Subscriber is sophisticated in financial matters and is able to evaluate the
risks and benefits of the investment in the Shares. Subscriber acknowledges that the Shares have not been registered under the Securities
Act of 1933, as amended (the “Securities Act”), and therefore cannot be sold unless subsequently registered under
the Securities Act or an exemption from such registration is available. Subscriber understands that it must bear the economic risk of
this investment until the Shares are sold pursuant to: (i) an effective registration statement under the Securities Act or (ii) an exemption
from registration available with respect to such sale. Subscriber is able to bear the economic risk of an investment in the Shares for
an indefinite period of time and to afford a complete loss of Subscriber’s investment in the Shares.


 


2.1.5.
No Government Recommendation or Approval. Subscriber understands that no federal or state agency has passed upon or made any recommendation
or endorsement of the offering of the Shares.


 


2.1.6.
Access to Information; Independent Investigation. Prior to the execution of this Agreement, Subscriber has had the opportunity
to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as the financial
condition, business and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all
information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s own knowledge
and understanding of the Company and its business based upon Subscriber’s own due diligence investigation. Subscriber understands
that no person has been authorized to make any representations other than as set forth in this Agreement and Subscriber has not relied
on any other written or oral representations relating to the financial condition, business, and prospects of the Company in making its
investment decision.


 


2.1.7.
Investment Representations. Subscriber represents that it is an “accredited investor” as such term is defined in Rule
501(a) of Regulation D under the Securities Act and acknowledges the sale contemplated hereby is being made in reliance on a private
placement exemption to “accredited investors” within the meaning of Section 501(a) of Regulation D under the Securities Act
or similar exemptions under federal and state law.


 


2.1.8.
Investment Purposes. Subscriber is purchasing the Shares solely for investment purposes, for Subscriber’s own account and
not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof in violation
of securities laws. Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general advertising
within the meaning of Rule 502 under the Securities Act.


 




    	 



    	 



    

 





2.1.9.
Restrictions on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a
public offering within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities”
within the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates or book-entries representing
the Shares will contain a legend or notation in respect of such restrictions. If, in the future, Subscriber decides to offer, resell,
pledge or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i) an
effective registration statement under the Securities Act or (ii) an exemption from registration available with respect to such sale.
Subscriber understands that if any transfer of its Shares or any interest therein is proposed to be made, as a condition precedent to
any such transfer, Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company (it being agreed
that Graubard Miller is satisfactory). Absent registration or available exemption, Subscriber agrees not to resell the Shares. Subscriber
further acknowledges that because the Company is a shell company, Rule 144 may not be available to Subscriber for the resale of the Shares
until one year following consummation of the initial business combination of the Company, despite the release or waiver of any contractual
transfer restrictions.


 


2.2.
Company’s Representations, Warranties and Agreements. To induce Subscriber to purchase the Shares, the Company hereby represents
and warrants to Subscriber and agrees with Subscriber as follows:


 


2.2.1.
Organization and Authority. The Company is a Cayman Islands exempted company and possesses all requisite power and authority necessary
to carry out the transactions contemplated by this Agreement. This Agreement is a legal, valid and binding agreement of the Company,
enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general
principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).


 


2.2.2.
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of the Company,
(ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule, regulation, order, judgment
or decree to which the Company is subject.


 


2.2.3.
No Governmental Consents. No governmental, administrative or other third party consents or approvals are required, necessary or
appropriate on the part of the Company in connection with the transactions contemplated by this Agreement.


 




    	 



    	 



    

 





2.2.4.
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will be duly and
validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, Subscriber
will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a) transfer
restrictions hereunder and other agreements to which the Shares may become subject, (b) transfer restrictions under federal and state
securities laws, and (c) liens, claims or encumbrances imposed due to the actions of Subscriber.


 


2.2.5.
No Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company
which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement
or (ii) question the validity or legality of any such transactions or seeks to recover damages or to obtain other relief in connection
with any such transactions.


 


3.
FINRA Requirements. Subscriber acknowledges that the Shares acquired hereby by Subscriber are subject to lock-up in compliance
with FINRA Rule 51l0(e)(l) for a period of 180 days from the commencement of sales of the IPO (defined below) and can only be transferred
or sold pursuant to the exceptions in FINRA Rule 5110(e)(2)(B). Further, any such securities are subject to the limitation on registration
rights in FINRA Rule 5110(g)(8).


 


4.
Waiver of Redemption Rights. Subscriber hereby waives any and all rights to redeem the Shares for a portion of the amounts held
in the trust account into which substantially all of the proceeds of the initial public offering (“IPO”) of units
(“Units”) of the Company will be deposited (the “Trust Account”) in the event of (i) the Company’s
failure to timely complete an initial business combination, (ii) an extension of the time period to complete an initial business combination
or (iii) upon the consummation of an initial business combination. For purposes of clarity, in the event Subscriber purchases ordinary
shares included in the Units issued in the IPO (“Public Shares”), either in the IPO or in the aftermarket, any Public
Shares so purchased shall be eligible to be redeemed for a portion of the amounts held in the Trust Account to the same extent as the
other holders of Public Shares.


 


5.
Restrictions on Transfer.


 


5.1.
Securities Law Restrictions. Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part
of the Shares unless, prior thereto, (a) a registration statement on the appropriate form under the Securities Act and applicable state
securities laws with respect to the Shares proposed to be transferred shall then be effective or (b) the Company has received an opinion
from counsel, reasonably satisfactory to the Company, that registration is not required because such transaction is exempt from registration
under the Securities Act and the rules promulgated by the Securities and Exchange Commission thereunder and all applicable state securities
laws.


 


5.2.
Lock-up. Subscriber acknowledges that the Shares will not, subject to certain exceptions, be transferred, assignable, or salable
(except to permitted transferees as described in the Registration Statement (defined below)) until 30 days after the date of the consummation
of our initial business combination.


 






    	 



    	 



    

 


5.3.
Restrictive Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as follows (and
any book-entries representing the Shares shall have similar notations):


 


“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND
NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH
LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.”


 


“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, CHARGED, MORTGAGED, PLEDGED
OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP.”


 


5.4.
Additional Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration of an extraordinary
dividend payable in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting the Company’s outstanding Shares without receipt of consideration, any new, substituted or additional securities
or other property which are by reason of such transaction distributed with respect to any Shares subject to this Section 5 or into which
such Shares thereby become convertible shall immediately be subject to this Section 5 and Section 3 hereof. Appropriate adjustments to
reflect the distribution of such securities or property shall be made to the number and/or class of Shares subject to this Section 5
and Section 3.


 


6.
Other Agreements.


 


6.1.
Further Assurances. Subscriber agrees to execute such further instruments and to take such further action as may reasonably be
necessary to carry out the intent of thisAgreement.


 


6.2.
Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be in writing and
delivered (i) personally or by certified mail (return receipt requested) or overnight courier service or (ii) by electronic mail, if
to the Company, at the address of its principal offices and any electronic mail address as may be designated in writing by the Company
and, ifto Subscriber, at its address in the books and records of the Company and any electronic mail address as may be designated in
writing by Subscriber, or to such other addresses as may be designated in writing by the Company or Subscriber. All such notices, statements
or other documents shall be deemed received on the date of receipt by the recipient thereof if received prior to 8:00 p.m. on a business
day in the place of receipt. Otherwise, any such notices, statements or other documents shall be deemed to have been received on the
next succeeding business day in the place of receipt.


 




    	 



    	 



    

 





6.3.
Entire Agreement. This Agreement, together with the registration rights agreement to be entered into with respect to the Shares,
substantially in the form to be filed as an exhibit to the Registration Statement on Form S-1 associated with the Company’s IPO
(the “Registration Statement”), embodies the entire agreement and understanding between Subscriber and the Company with respect
to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof.
No statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall affect, or
be used to interpret, change or restrict, the express terms and provisions of this Agreement.


 


6.4.
Modifications and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement
executed by all parties hereto.


 


6.5.
Waivers and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted,
only by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall
be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not
similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and
shall not constitute a continuing waiver or consent.


 


6.6.
Assignment. The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written
consent of the other party.


 


6.7.
Benefit. All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties
hereto and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement
shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as
a third-party beneficiary of this Agreement.


 


6.8.
Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and
governed by the laws of the State of New York applicable to contracts wholly performed within the borders of such state, without giving
effect to the conflict of law principles thereof.


 


6.9.
Severability. In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof,
contained in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the
extent that such court deems it reasonable and enforceable, and, as so limited, shall remain in full force and effect. In the event that
such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall
nevertheless remain in full force and effect.


 




    	 



    	 



    

 





6.10.
No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under
this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of
such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or
discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof
or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver
of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement
shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or
constitute a waiver of the rights of the party giving such notice or demand to any other or further action in any circumstances without
such notice or demand.


 


6.11.
Survival of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or
in any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof
and any investigations made by or on behalf of the parties.


 


6.12.
No Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial
consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to create
any liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim or demand for commission
or other compensation by any broker, finder, financial consultant or similar agent claiming to have been employed by or on behalf of
such party and to bear the cost of legal expenses incurred in defending against any such claim.


 


6.13.
Headings and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference
only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.


 


6.14.
Counterparts. This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party,
it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered in pdf format
via electronic mail, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature
is executed) with the same force and effect as if such signature page were an original thereof.


 




    	 



    	 



    

 








6.15.
Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity
or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement.
The words “include,” “includes,” and “including” will be deemed to be followed by “without
limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words in
the singular form will be construed to include the plural and vice versa, unless the context otherwise requires. The words “this
Agreement,” “herein,” “hereof,” “hereby,” “hereunder,” and words of similar
import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend
that each representation, warranty, and covenant contained herein will have independent significance. If any party hereto has breached
any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty
or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached
will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant.


 


6.16.
Mutual Drafting. This Agreement is the joint product of Subscriber and the Company and each provision hereof has been subject
to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.


 


7.
Indemnification. Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney’s
fees and expenses) incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement.


 


[Signature
Page Follows]


 




    	 



    	 



    

 





If
the foregoing accurately sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to
us.


 


	 	Very
    truly yours,
	 	 	 
	 	ALPHAVEST
    ACQUISITION CORP
	 	 	 
	 	By:	/s/
    Pengfei Zheng
	 	Name:	Pengfei
    Zheng
	 	Title:
    	Chairman


 











	Accepted
    and agreed as of the date first written above. 	 
	 	 	 
	EARLYBIRDCAPIT
    AL, INC.	 
	 	 
	By:	/s/
    Michael Powell	 
	Name:
    	Michael
    Powell	 
	Title:
    	Senior
    Managing Director	 


 





[Signature
Page to Securities Subscription Agreement]