Exhibit 10.4


 


PRIVATE PLACEMENT UNITS PURCHASE AGREEMENT


 


This PRIVATE PLACEMENT UNITS
PURCHASE AGREEMENT (this “Agreement”) is made as of the 19th day of October, 2021, by and between Athena
Consumer Acquisition Corp., a Delaware corporation (the “Company”), and Athena Consumer Acquisition Sponsor LLC, a
Delaware limited liability company (the “Subscriber”).


 


WHEREAS, the Company desires
to sell to the Subscriber on a private placement basis (the “Offering”) an aggregate of 1,000,000 units (or
up to 1,060,000 depending on the extent to which the underwriters’ over-allotment option is exercised) (the “Units”)
of the Company, each Unit comprised of one share of Class A common stock of the Company, par value $0.0001 per share (“Common
Stock”) and one-half of one warrant, each whole warrant exercisable to purchase one share of Common Stock (“Warrant”),
for a purchase price of $10.00 per Unit. The shares of Common Stock underlying the Warrants are hereinafter referred to as the “Warrant
Shares”. The shares of Common Stock underlying the Units (excluding the Warrant Shares) are hereinafter referred to as the “Placement
Shares.” The Warrants underlying the Units are hereinafter referred to as the “Placement Warrants.” The Units,
Placement Shares, Placement Warrants and Warrant Shares, collectively, are hereinafter referred to as the “Securities.”
Each whole Placement Warrant is exercisable to purchase one share of Common Stock at an exercise price of $11.50 during the period commencing
30 days following the consummation of the Company’s initial business combination (the “Business Combination”),
as such term is defined in the registration statement in connection with the IPO, as amended at the time it becomes effective (the “Registration
Statement”), and expiring on the fifth anniversary of the consummation of the Business Combination; and


 


WHEREAS, the Subscriber wishes
to purchase 1.000,000 Units (or up to 1,060,000 depending on the extent to which
the underwriters’ over-allotment option is exercised), and the Company wishes to accept such subscription from Subscriber.


 


NOW, THEREFORE, in consideration
of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and Subscriber hereby agree as follows:


 


		1.	Agreement to Subscribe


 


		1.1.	Purchase and Issuance of the Units. Upon the terms and subject
to the conditions of this Agreement, the Subscriber hereby agrees to purchase from the Company, and the Company hereby agrees to sell
to the Subscriber, on the Closing Date (as defined below) the Units in consideration of the payment of the Purchase Price (as defined
below). On the Closing Date, the Company shall, at its option, deliver to the Subscriber the certificates representing the Securities
purchased or effect such delivery in book-entry form.


 


		1.2.	Purchase Price. As payment in full for the Units being purchased
under this Agreement, the Subscriber shall pay $10,000,000 (or up to $10,600,000 depending on the extent to which the underwriters’
over-allotment option is exercised) (the “Purchase Price”) by wire transfer of immediately available funds or by such
other method as may be reasonably acceptable to the Company, to the trust account (the “Trust Account”) at a financial
institution to be chosen by the Company, maintained by Continental Stock Transfer & Trust Company, acting as trustee (“Continental”),
one (1) business day prior to the date of effectiveness of the Registration Statement.


 


1.3. Closing. The closing
of the purchase and sale of the Units shall take place simultaneously with the closing of the IPO (the “Closing Date”).
The closing of the purchase and sale of the Units shall take place at the offices of Reed Smith LLP, 599 Lexington Ave, 22nd
Floor, New York, New York, 10022, or such other place as may be agreed upon by the parties hereto.


 


1.4 Termination. This Agreement
and each of the obligations of the undersigned shall be null and void and without effect if a Closing does not occur prior to December
31, 2021.


 






    


    


    

 


	 	2.	Representations and Warranties of Subscriber


 


Subscriber represents and warrants to the Company
that:


 


2.1. No Government Recommendation
or Approval. Subscriber understands that no federal or state agency has passed upon or made any recommendation or endorsement of the Company
or the Offering of the Securities.


 


2.2. Accredited Investor.
Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D under the
Securities Act of 1933, as amended (the “Securities Act”), and acknowledges that the sale contemplated hereby is being
made in reliance, among other things, on a private placement exemption to “accredited investors” under the Securities Act
and similar exemptions under state law.


 


2.3. Intent. Subscriber is
purchasing the Securities solely for investment purposes, for Subscriber’s own account (and/or for the account or benefit of its
members or affiliates, as permitted, pursuant to the terms of an agreement (the “Insider Letter”) to be entered into
with respect to the Securities between, among others, Subscriber and the Company, as described in the Registration Statement), and not
with a view to the distribution thereof and Subscriber has no present arrangement to sell the Securities to or through any person or entity
except as may be permitted under the Insider Letter. Subscriber shall not engage in hedging transactions with regard to the Securities
unless in compliance with the Securities Act.


 


2.4. Restrictions on Transfer.
Subscriber acknowledges and understands the Units are being offered in a transaction not involving a public offering in the United States
within the meaning of the Securities Act. The Securities have not been registered under the Securities Act and, if in the future Subscriber
decides to offer, resell, pledge or otherwise transfer the Securities, such Securities may be offered, resold, pledged or otherwise transferred
only (A) pursuant to an effective registration statement filed under the Securities Act, (B) pursuant to an exemption from registration
under Rule 144 promulgated under the Securities Act, if available, or (C) pursuant to any other available exemption from the registration
requirements of the Securities Act, and in each case in accordance with any applicable securities laws of any state or any other jurisdiction.
Notwithstanding the foregoing, Subscriber acknowledges and understands the Securities are subject to transfer restrictions as described
in Section 8 hereof. Subscriber agrees that if any transfer of its Securities 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
with respect to such transfer. Absent registration or another available exemption from registration, Subscriber agrees it will not resell
the Securities (unless otherwise permitted pursuant to the Insider Letter, as described in the Registration Statement). Subscriber further
acknowledges that because the Company is a shell company, Rule 144 may not be available to Subscriber for the resale of the Securities
until the one year anniversary following consummation of the initial Business Combination of the Company, despite technical compliance
with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.


 


2.5. Sophisticated Investor.


 


		(i)	Subscriber is sophisticated in financial matters and is able
to evaluate the risks and benefits of the investment in the Securities.



 


		(ii)	Subscriber is aware that an investment in the Securities
is highly speculative and subject to substantial risks because, among other things, the Securities are subject to transfer restrictions
and have not been registered under the Securities Act and therefore cannot be sold unless subsequently registered under the Securities
Act or an exemption from such registration is available. Subscriber is able to bear the economic risk of its investment in the Securities
for an indefinite period of time.



 


2.6. Independent Investigation.
Subscriber, in making the decision to purchase the Units, has relied upon an independent investigation of the Company and has not relied
upon any information or representations made by any third parties or upon any oral or written representations or assurances from the Company,
its officers, directors or employees or any other representatives or agents of the Company, other than as set forth in this Agreement.
Subscriber is familiar with the business, operations and financial condition of the Company and has had an opportunity to ask questions
of, and receive answers from the Company’s officers and directors concerning the Company and the terms and conditions of the offering
of the Units and has had full access to such other information concerning the Company as Subscriber has requested. Subscriber confirms
that all documents that it has requested have been made available and that Subscriber has been supplied with all of the additional information
concerning this investment which Subscriber has requested.


 






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2.7 Organization and Authority.
Subscriber is duly organized, validly existing and in good standing under the laws of the State of Delaware and it possesses all requisite
power and authority necessary to carry out the transactions contemplated by this Agreement.


 


2.8. Authority. This Agreement
has been validly authorized, executed and delivered by Subscriber and is a valid and binding agreement enforceable in accordance with
its terms, subject to the general principles of equity and to bankruptcy or other laws affecting the enforcement of creditors’ rights
generally.


 


2.9. 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) Subscriber's charter documents, (ii) any agreement or instrument to which Subscriber is
a party or (iii) any law, statute, rule or regulation to which Subscriber is subject, or any agreement, order, judgment or decree to which
Subscriber is subject.


 


2.10. No Legal Advice from
Company. Subscriber acknowledges it has had the opportunity to review this Agreement and the transactions contemplated by this Agreement
and the other agreements entered into between the parties hereto with Subscriber’s own legal counsel and investment and tax advisors.
Except for any statements or representations of the Company made in this Agreement and the other agreements entered into between the parties
hereto, Subscriber is relying solely on such counsel and advisors and not on any statements or representations of the Company or any of
its representatives or agents for legal, tax or investment advice with respect to this investment, the transactions contemplated by this
Agreement or the securities laws of any jurisdiction.


 


2.11. Reliance on Representations
and Warranties. Subscriber understands the Units are being offered and sold to Subscriber in reliance on exemptions from the registration
requirements under the Securities Act, and analogous provisions in the laws and regulations of various states, and that the Company is
relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of Subscriber set
forth in this Agreement in order to determine the applicability of such provisions.


 


2.12. No General Solicitation.
Subscriber is not subscribing for the Units as a result of or subsequent to any general solicitation or general advertising, including
but not limited to any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media or
broadcast over television or radio, or presented at any seminar or meeting or in a registration statement with respect to the IPO filed
with the Securities and Exchange Commission (“SEC”).


 


2.13. Legend. Subscriber acknowledges
and agrees the certificates evidencing each of the Securities shall bear a restrictive legend (the “Legend”), in form
and substance substantially as set forth in Section 4 hereof.


 


	 	3.	Representations, Warranties and Covenants of the Company


 


The Company represents and
warrants to, and agrees with, Subscriber that:


 


3.1. Valid Issuance of Capital
Stock. The total number of shares of all classes of capital stock which the Company has authority to issue is 100,000,000 shares of Class
A Common Stock, 10,000,000 shares of Class B Common Stock, $0.0001 par value per share (the “Class B Common Stock”),
and 1,000,000 shares of preferred stock, $0.0001 par value per share (“Preferred Stock”). As of the date hereof, the
Company has issued and outstanding 8,050,000 shares of Class B Common Stock (of which up to 1,050,000 shares are subject to forfeiture
as described in the Registration Statement), no shares of Class A Common Stock and no shares of Preferred Stock. All of the issued shares
of capital stock of the Company have been duly authorized, validly issued, and are fully paid and non-assessable.


 






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3.2 Title to Securities. Upon
issuance in accordance with, and payment pursuant to, the terms hereof and that certain private warrant agreement to be entered into between
the Company and Continental, as warrant agent (the “Warrant Agreement”), as the case may be, each of the Units, Placement
Shares, Placement Warrants and Warrant Shares will be duly and validly issued, fully paid and non-assessable. On the date of issuance
of the Units and Warrant Shares shall have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the
terms hereof and the Warrant Agreement, as the case may be, Subscriber will have or receive good title to the Units, Placement Shares
and Placement Warrants, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder
and pursuant to the Insider Letter and (ii) transfer restrictions under federal and state securities laws.


 


3.3. Organization and Qualification. The Company
is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware and has the requisite
corporate power to own its properties and assets and to carry on its business as now being conducted.


 


3.4. Authorization; Enforcement.
(i) The Company has the requisite corporate power and authority to enter into and perform its obligations under this Agreement and to
issue the Securities in accordance with the terms hereof, (ii) the execution, delivery and performance of this Agreement by the Company
and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary corporate action, and no
further consent or authorization of the Company or its Board of Directors or stockholders is required, and (iii) this Agreement constitutes
valid and binding obligations 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, moratorium, reorganization, or similar laws relating to, or
affecting generally the enforcement of, creditors’ rights and remedies or by equitable principles of general application and except
as enforcement of rights to indemnity and contribution may be limited by federal and state securities laws or principles of public policy.


 


3.5. No Conflicts. The execution,
delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated hereby do not (i) result
in a violation of the Company’s certificate of incorporation or by-laws, (ii) conflict with, or constitute a default under any agreement
or instrument to which the Company is a party or (iii) any law statute, rule or regulation to which the Company is subject or any agreement,
order, judgment or decree to which the Company is subject. Other than any SEC or state securities filings which may be required to be
made by the Company subsequent to the Closing, and any registration statement which may be filed pursuant thereto, the Company is not
required under federal, state or local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or
registration with, any court or governmental agency or self-regulatory entity in order for it to perform any of its obligations under
this Agreement or issue the Units, Placement Shares, Placement Warrants or Warrant Shares in accordance with the terms hereof.


 


	 	4.	Legends


 


4.1. Legend. The Company will
issue the Units, Placement Shares and Placement Warrants, and when issued, the Warrant Shares, purchased by the Subscriber in the name
of the Subscriber. The Securities will bear the following Legend and appropriate “stop transfer” instructions:


 


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


 


“THE SECURITIES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PURSUANT TO AN INSIDER LETTER BETWEEN, AMONG OTHERS, ATHENA CONSUMER ACQUISITION
CORP. AND ATHENA CONSUMER ACQUISITION SPONSOR LLC AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE
TERM OF THE LOCKUP PURSUANT TO THE TERMS SET FORTH IN THE INSIDER LETTER.”


 






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4.2. Subscriber’s Compliance. Nothing in
this Section 4 shall affect in any way Subscriber’s obligations and agreements to comply with all applicable securities laws upon
resale of the Securities.


 


4.3. Company’s Refusal
to Register Transfer of the Securities. The Company shall refuse to register any transfer of the Securities, if in the sole judgment of
the Company such purported transfer would not be made (i) pursuant to an effective registration statement filed under the Securities Act,
or pursuant to an available exemption from the registration requirements of the Securities Act and (ii) in compliance herewith and with
the Insider Letter.


 


4.4 Registration Rights. The
Subscriber will be entitled to certain registration rights which will be governed by a registration rights agreement (“Registration
Rights Agreement”) to be entered into between, among others, the Subscriber and the Company, on or prior to the effective date
of the Registration Statement.


 


		5.	Waiver of Liquidation Distributions.




 


In connection with the Securities
purchased pursuant to this Agreement, Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions
of the amounts in the Trust Account with respect to the Securities, whether (i) in connection with the exercise of redemption rights if
the Company consummates the Business Combination, (ii) in connection with any tender offer conducted by the Company prior to a Business
Combination, (iii) upon the Company’s redemption of shares of Common Stock sold in the Company’s IPO upon the Company’s
failure to timely complete the Business Combination or (iv) in connection with a stockholder vote to approve an amendment to the Company’s
amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to redeem 100%
of the Company’s public shares if the Company does not timely complete the Business Combination or (B) with respect to any other
provision relating to stockholders’ rights or pre-Business Combination activity. In the event a Subscriber purchases shares of Common
Stock in the IPO or in the aftermarket, any additional shares so purchased shall be eligible to receive the redemption value of such shares
of Common Stock upon the same terms offered to all other purchasers of Common Stock in the IPO in the event the Company fails to consummate
the Business Combination.


 


	 	6.	Terms of Placement Warrants. Each Placement Warrant shall have the terms set forth in the Warrant Agreement.


 


	 	7.	[Reserved].


 


	 	8.	Terms of the Units and Placement Warrants


 


8.1 The Units and their component
parts are substantially identical to the units to be offered in the IPO except that: (i) the Units and component parts will be subject
to transfer restrictions described in the Insider Letter, (ii) the Placement Warrants will be non-redeemable so long as they are held
by the initial holder thereof (or any of its permitted transferees), and may be exercisable on a “cashless” basis if held
by a Subscriber or its permitted transferees, as further described in the Warrant Agreement and (iii) the Units and component parts are
being purchased pursuant to an exemption from the registration requirements of the Securities Act and will become freely tradable only
after the expiration of the lockup described above in clause (i) and they are registered pursuant to the Registration Rights Agreement
to be signed on or before the date of the Prospectus or an exemption from registration is available.


 


8.2 Subscriber agrees to vote
the Placement Shares in accordance with the terms of the Insider Letter and as otherwise described in the Registration Statement.


 


	 	9.	Governing Law; Jurisdiction; Waiver of Jury Trial


 


This Agreement shall be governed
by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed within such state.
The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to this Agreement and the transactions
contemplated hereby.


 






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		10.	Assignment; Entire Agreement; Amendment


 


10.1. Assignment. Neither
this Agreement nor any rights hereunder may be assigned by any party to any other person other than by a Subscriber to a person agreeing
to be bound by the terms hereof, including the waiver contained in Section 7 hereof.


 


10.2. Entire Agreement. This
Agreement sets forth the entire agreement and understanding between the parties as to the subject matter thereof and merges and supersedes
all prior discussions, agreements and understandings of any and every nature among them.


 


10.3. Amendment. Except as
expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated other
than by a written instrument signed by all of the parties hereto.


 


10.4. Binding upon Successors.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal representatives,
successors and permitted assigns.


 


	 	11.	Notices


 


11.1 Notices. Unless otherwise
provided herein, any notice or other communication to a party hereunder shall be sufficiently given if in writing and personally delivered
or sent by facsimile or other electronic transmission with copy sent in another manner herein provided or sent by courier (which for all
purposes of this Agreement shall include Federal Express or other recognized overnight courier) or mailed to said party by certified mail,
return receipt requested, at its address provided for herein or such other address as either may designate for itself in such notice to
the other. Communications shall be deemed to have been received when delivered personally, on the scheduled arrival date when sent by
next day or 2nd-day courier service, or if sent by facsimile upon receipt of confirmation of transmittal or, if sent by mail, then three
days after deposit in the mail. If given by electronic transmission, such notice shall be deemed to be delivered (a) if by electronic
mail, when directed to an electronic mail address at which the stockholder has consented to receive notice; (b) if by a posting on an
electronic network together with separate notice to the stockholder of such specific posting, upon the later of (1) such posting and (2)
the giving of such separate notice; and (c) if by any other form of electronic transmission, when directed to the stockholder.


 


	 	12.	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 by facsimile transmission or by e-mail delivery of a “pdf”
format data file, 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 facsimile or “.pdf” signature page were an original thereof.


 


	 	13.	Survival; Severability


 


13.1. Survival. The representations,
warranties, covenants and agreements of the parties hereto shall survive the Closing Date.


 


13.2. Severability. In the
event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or
void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall be effective
if it materially changes the economic benefit of this Agreement to any party.


 


	 	14.	Headings.


 


The titles and subtitles used
in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.


 


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IN WITNESS WHEREOF, the parties
hereto have executed this Agreement to be effective as of the date first set forth above.


 


	 	COMPANY:
	 	 
	 	ATHENA CONSUMER ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Jane Park
	 	 	Name: 	Jane Park
	
     

    
	
    

    
	Title:	Chief Executive Officer



  


	 	SUBSCRIBER:
	 	 
	 	
    ATHENA CONSUMER ACQUISITION

    SPONSOR LLC

    

	 	 	 
	 	By:	/s/ Isabelle Freidheim
	 	 	Name:	 Isabelle Freidheim
	
	
     
	Title:	Managing Member



 


 


[Signature Page to Private Placement Units Purchase
Agreement with Sponsor]