Exhibit 10.5


 


PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT


 


THIS PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT,
dated as of _________, 2020 (as it may from time to time be amended, this “Agreement”), is entered into by and
between Bull Horn Holdings Corp., a British Virgin Islands business company (the “Company”), Imperial Capital,
LLC, a Delaware limited liability company (“Imperial”), and I-Bankers Securities, Inc., a Texas corporation
(“I-Bankers”, and collectively with Imperial the “Purchasers”).


 


WHEREAS:


 


The Company intends to consummate an initial
public offering of the Company’s units (the “Public Offering”), each unit consisting of one ordinary share
of the Company, of no par value per share (each, a “Share”), and one-half of one redeemable warrant;


 


Each whole warrant entitles the holder to
purchase one Share at an exercise price of $11.50 per Share; and


 


The Purchasers have agreed to purchase, at a price
of $1.00 per warrant, an aggregate of 750,000 warrants (or 862,500 warrants if the over-allotment in connection with the Public
Offering is exercised in full) (the “Private Placement Warrants”), each Private Placement Warrant entitling
the holder to purchase one Share at an exercise price of $11.50 per Share.


 


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:


 


AGREEMENT


 


Section 1.  Authorization, Purchase and Sale; Terms
of the Private Placement Warrants.


 


A. Authorization of the Private
Placement Warrants.  The Company has duly authorized the issuance and sale of the Private Placement Warrants to the Purchasers.


 


B. Purchase and Sale
of the Private Placement Warrants.


 


(i)  Simultaneously with the consummation
of the Public Offering or on such earlier time and date as may be mutually agreed by the Purchasers and the Company (the “Initial
Closing Date”), the Company shall issue and sell to the Purchasers, and the Purchasers shall purchase from the Company,
an aggregate of 750,000 Private Placement Warrants at a price of $1.00 per warrant for an aggregate purchase price of $750,000
(the “Purchase Price”). Purchasers shall pay 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”)
maintained by Continental Stock Transfer & Trust Company, acting as trustee (“Continental”), on the Initial
Closing Date.  On the Initial Closing Date, upon the payment by the Purchasers of the Purchase Price, the Company, at its
option, shall deliver a certificate evidencing the Private Placement Warrants purchased on such date duly registered in the Purchasers’
name to the Purchaser or effect such delivery in book-entry form. It is agreed that Imperial will be responsible for purchasing
675,000 of such Private Placement Warrants and I-Bankers will be responsible for purchasing 75,000 of such Private Placement Warrants.


 


(ii)  Simultaneously with the consummation
of the closing of the over-allotment option in connection with the Public Offering (the “Over-Allotment Option”)
or on such earlier time and date as may be mutually agreed by the Purchasers and the Company (each such date, an “Over-allotment
Closing Date,” and each Over-allotment Closing Date (if any) and the Initial Closing Date being sometimes referred to
herein as a “Closing Date”), the Company shall issue and sell to the Purchasers, and the Purchasers shall purchase
from the Company, an aggregate of up to 112,500 Private Placement Warrants at a price of $1.00 per warrant for an aggregate purchase
price of up to $112,500 (if the over-allotment option in connection with the Public Offering is exercised in full) (the “Over-allotment
Purchase Price”). Purchasers shall pay the Over-allotment 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 maintained by Continental on the Over-allotment
Closing Date.  On the Over-allotment Closing Date, upon the payment by the Purchaser of the Over-allotment Purchase Price
to the Company, the Company shall, at its option, deliver a certificate evidencing the Private Placement Warrants purchased on
such date duly registered in the Purchaser’s name to the Purchaser or effect such delivery in book-entry form.  It is
agreed that Imperial will be responsible for purchasing 101,250 of such Private Placement Warrants and I-Bankers will be responsible
for purchasing 11,250 of such Private Placement Warrants.


 




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C. Terms of the Private
Placement Warrants.


 


(i)  Each Private Placement Warrant
shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent, in connection with
the Public Offering (the “Warrant Agreement”).


 


(ii)  On the date of effectiveness (the
“Effective Date”) of the registration statement relating to the Public Offering (the “Registration
Statement”), the Company and the Purchasers shall enter into a registration rights agreement (the “Registration
Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchasers relating to
the Private Placement Warrants and the Shares underlying the Private Placement Warrants.


 


(iii) The Private Placement Warrants shall be
terminated upon the dissolution of the Company or in the event that the Company does not consummate an initial business combination
within the time period set forth in the Company’s memorandum and articles of association, as the same may be amended from
time to time.


 


(iv) So long as the Private Placement Warrants
are held by the Purchasers or their respective designees or affiliates, the Purchasers or their respective designees or affiliates
will not be permitted to exercise such Private Placement Warrants after the five year anniversary of the Effective Date in accordance
with FINRA Rule 5110(f)(2)(G)(i)).


 


(iv) Purchasers acknowledge and agree that the
Private Placement Warrants and underlying Shares and the related registration rights will be deemed compensation by the Financial
Industry Regulatory Authority (“FINRA”) and will therefore, pursuant to Rule 5110(g) of the FINRA Manual, be
subject to lock-up for a period of 180 days immediately following the date of effectiveness or commencement of sales in the offering
contemplated by the Registration Statement, subject to certain limited exceptions to permitted transferees hereunder and in accordance
with FINRA Rule 5110(g)(2). Additionally, the Private Placement Warrants and underlying Shares and the related registration rights
may not be sold, transferred, assigned, pledged or hypothecated during the foregoing 180 day period following the Effective Date
except to any underwriter or selected dealer participating in the offering contemplated by the Registration Statement and the respective
bona fide officers or partners of the Purchasers and any such participating underwriter or selected dealer. Additionally, the Private
Placement Warrants and underlying Shares and the related registration rights will not be the subject of any hedging, short sale,
derivative, put or call transaction that would result in the economic disposition of such securities by any person for a period
of 180 days immediately following the date of effectiveness or commencement of sales in the offering contemplated by the Registration
Statement.


 


Section 2.  Representations and Warranties of the Company. 
As a material inducement to the Purchasers to enter into this Agreement and purchase the Private Placement Warrants, the Company
hereby represents and warrants to the Purchasers (which representations and warranties shall survive each Closing Date) that:


 


A. Incorporation and
Corporate Power.  The Company is an exempted company duly incorporated, validly existing and in good standing under the
laws of the Cayman Islands and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably
be expected to have a material adverse effect on the financial condition, operating results or assets of the Company.  The
Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement
and the Warrant Agreement.


 


B. Authorization; No
Breach.


 


(i)  The execution, delivery and performance
of this Agreement and the Private Placement Warrants have been duly authorized by the Company as of the Closing Date.  This
Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with its terms.  Upon issuance
in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Private Placement Warrants
will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing Dates.


 




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(ii)  The execution and delivery by
the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private Placement Warrants, the
issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment, of and compliance with, the respective
terms hereof and thereof by the Company, do not and will not as of the Closing Dates (a) conflict with or result in a breach
of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security
interest, charge or encumbrance upon the Company’s share capital or assets under, (d) result in a violation of, or (e) require
any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative
or governmental body or agency pursuant to the memorandum and articles of association of the Company (in effect on the date hereof
or as may be amended prior to completion of the contemplated Public Offering), or any material law, statute, rule or regulation
to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any filings
required after the date hereof under federal or state securities laws.


 


C. Title to Securities. 
Upon issuance in accordance with, and payment pursuant to, and registration in the register of members of the Company, the terms
hereof, the Warrant Agreement and the memorandum and articles of association of the Company, the Shares issuable upon exercise
of the Private Placement Warrants will be duly and validly issued as fully paid and nonassessable. On the date of issuance of the
Private Placement Warrants, the Shares issuable upon exercise of the Private Placement Warrants shall have been reserved for issuance.
Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchasers will have
good title to the Private Placement Warrants and the Shares issuable upon exercise of such Private Placement Warrants, free and
clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and under the other
agreements contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens,
claims or encumbrances imposed due to the actions of the Purchasers.


 


D. Governmental Consents. 
No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is required in connection
with the execution, delivery and performance by the Company of this Agreement or the consummation by the Company of any other transactions
contemplated hereby.


 


E. Regulation D Qualification.
Neither the Company nor, to its actual knowledge, any of its officers, directors or beneficial shareholders of 20% or more of its
outstanding securities, has experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities
Act of 1933, as amended (the “Securities Act”).


 


Section 3.  Representations and Warranties of the Purchasers. 
As a material inducement to the Company to enter into this Agreement and issue and sell the Private Placement Warrants to the Purchasers,
each Purchaser (severally, but not jointly) hereby represents and warrants to the Company (which representations and warranties
shall survive each Closing Date) that:


 


A. Organization and Requisite
Authority.  The Purchaser possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement.


 


B. Authorization; No
Breach.


 


(i) This Agreement constitutes a valid and
binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other laws of general applicability relating to or affecting creditors’ rights and to general
equitable principles (whether considered in a proceeding in equity or law).


 


(ii) The execution and delivery by the Purchaser
of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser does not and shall not as of each
Closing Date conflict with or result in a breach by the Purchaser of the terms, conditions or provisions of any agreement, instrument,
order, judgment or decree to which the Purchaser is subject.


 




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C. Investment Representations.


 


(i) The Purchaser is acquiring the Private
Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares issuable upon such exercise (collectively,
the “Securities”), for the Purchaser’s own account, for investment purposes only and not with a view towards,
or for resale in connection with, any public sale or distribution thereof.


 


(ii) The Purchaser is an “accredited
investor” as such term is defined in Rule 501(a)(3) of Regulation D under the Securities Act and the Purchaser
has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act.


 


(iii) The Purchaser understands that the
Securities are being offered and will be sold to it in reliance on specific exemptions from the registration requirements of the
United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and the Purchaser’s
compliance with, the representations and warranties of the Purchaser set forth herein in order to determine the availability of
such exemptions and the eligibility of the Purchaser to acquire such Securities.


 


(iv) The Purchaser decided to enter into
this Agreement not as a result of any general solicitation or general advertising within the meaning of Rule 502(c) under
the Securities Act.


 


(v) The Purchaser has been furnished with
all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of
the Securities which have been requested by the Purchaser.  The Purchaser has been afforded the opportunity to ask questions
of the executive officers and directors of the Company.  The Purchaser understands that its investment in the Securities involves
a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an informed
investment decision with respect to the acquisition of the Securities.


 


(vi) The Purchaser understands that no United
States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement
of the Securities or the fairness or suitability of the investment in the Securities by the Purchaser nor have such authorities
passed upon or endorsed the merits of the offering of the Securities.


 


(vii) The Purchaser understands that: (a) the
Securities have not been and are not being registered under the Securities Act or any state securities laws, and may not be offered
for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold in reliance on an exemption
therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the Company nor any other
person is under any obligation to register the Securities under the Securities Act or any state securities laws or to comply with
the terms and conditions of any exemption thereunder.  The Private Placement Warrants will bear a legend and appropriate “stop
transfer” instructions (or an appropriate notation if the warrants are issued in book entry form) relating to the foregoing.
The Purchaser further understands that the Securities and Exchange Commission (the “SEC”) has taken the position
that promoters or affiliates of a blank check company and their transferees, both before and after an initial business combination,
are deemed to be “underwriters” under the Securities Act when reselling the securities of a blank check company. 
Based on that position, Rule 144 adopted pursuant to the Securities Act would not be available for resale transactions of
the Securities until the one-year anniversary following consummation of an initial business combination despite technical compliance
with the requirements of such Rule.


 


(viii) The Purchaser has such knowledge
and experience in financial and business matters, knows of the high degree of risk associated with investments in the securities
of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an investment in the
Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated hereunder for an
indefinite period of time.  The Purchaser has adequate means of providing for its current financial needs and contingencies
and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities. 
The Purchaser can afford a complete loss of its investment in the Securities.


 




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Section 4.  Conditions of the Purchaser’s Obligations. 
The obligations of the Purchasers to purchase and pay for the Private Placement Warrants are subject to the fulfillment, on or
before each Closing Date, of each of the following conditions:


 


A. Representations and Warranties. 
The representations and warranties of the Company contained in Section 2 shall be true and correct at and as of such Closing
Date as though then made.


 


B. Performance. 
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before such Closing Date.


 


C. No Injunction. 
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.


 


D. Warrant Agreement and
Registration Rights Agreement.  The Company shall have entered into the Warrant Agreement with a warrant agent and a registration
rights agreement, in each case on terms satisfactory to the Purchasers. 


  


E. Corporate Consents.
The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance of this
Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants.


 


Section 5.  Conditions of the Company’s Obligations. 
The obligations of the Company to the Purchasers under this Agreement are subject to the fulfillment, on or before each Closing
Date, of each of the following conditions:


 


A. Representations and Warranties. 
The representations and warranties of the Purchasers contained in Section 3 shall be true and correct at and as of such Closing
Date as though then made.


 


B. Performance. 
The Purchasers shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchasers on or before such Closing Date.


 


C. No Injunction. 
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.


 


D. Warrant Agreement and
Registration Rights Agreement.  The Company shall have entered into the Warrant Agreement with a warrant agent, and a
registration rights agreement, in each case on terms satisfactory to the Company.


 


Section 6.  Termination.  This Agreement may
be terminated at any time after December 31, 2020 upon the election by either the Company or the Purchasers solely as to itself
upon written notice to the other parties if the closing of the Public Offering does not occur prior to such date.


 


Section 7.  Survival of Representations and Warranties. 
All of the representations and warranties contained herein shall survive each Closing Date.


 


Section 8.  Definitions.  Terms used but
not otherwise defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement.


 




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Section 9.  Miscellaneous.


 


A. Successors and Assigns. 
Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf of any
of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so expressed
or not.  Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement without
the prior written consent of the other party hereto, other than assignments by the Purchasers to affiliates thereof.


 


B. Severability. 
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.


 


C. Counterparts. 
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement.


 


D. Descriptive Headings;
Interpretation.  The descriptive headings of this Agreement are inserted for convenience only and do not constitute a
substantive part of this Agreement.  The use of the word “including” in this Agreement shall be by way
of example rather than by limitation. 


 


E. Governing Law. 
This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all purposes shall be construed
in accordance with the internal laws of the State of New York, without regard to the conflicts of laws principles thereof.


 


F. Amendments. 
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by
all parties hereto.


 


[Signature page follows]


 




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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:
	 	 
	 	BULL HORN HOLDINGS CORP.
	 	 
	 	By:	    
	 	 	Name:	 
	 	 	Title:	 
	 	 
	 	PURCHASERS:
	 	 
	 	IMPERIAL CAPITAL, LLC
	 	
        

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	I-BANKERS SECURITIES, INC.
	 	
         

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 



 


[Signature page to Private Placement
Warrants Purchase Agreement]


 


 


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