Exhibit 10.5


 


PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT


 


THIS PRIVATE PLACEMENT
WARRANTS PURCHASE AGREEMENT, dated as of February 21, 2019 (as it may from time to time be amended, this “Agreement”),
is entered into by and between Acamar Partners Acquisition Corp., a Delaware corporation (the “Company”), and
Acamar Partners Sponsor I LLC, a Delaware limited liability company (the “Purchaser”).


  


WHEREAS, the Company
intends to consummate a public offering of the Company’s units (the “Public Offering”), each unit consisting
of one share of the Company’s Class A common stock, par value $0.0001 per share (a “Share”), and one-third
of one redeemable warrant, each whole warrant exercisable for one Share at an exercise price of $11.50 per Share, as set forth
in the Company’s registration statement on Form S-1, File No. 333-229157, related to the Public Offering (the “Registration
Statement”); and


 


WHEREAS, the Purchaser
has agreed to purchase from the Company an aggregate of 6,000,000 warrants (or up to 6,600,000 warrants to the extent the underwriters’
option to purchase additional units in connection with the Public Offering is exercised) (the “Sponsor Warrants”),
each Sponsor 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:


 


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


 


A. Authorization of the Sponsor
Warrants. The Company has duly authorized the issuance and sale of the Sponsor Warrants to the Purchaser.


 


B. Purchase and Sale of the Sponsor
Warrants.



 



 


(i) As payment
in full for the 6,000,000 Sponsor Warrants being purchased under this Agreement, Purchaser shall pay $9,000,000 (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 American Stock Transfer & Trust Company, LLC, acting as trustee, at least one (1) business day prior to the Initial
Closing Date (as defined below).


 


(ii) In the event
that the underwriters’ option to purchase additional units is exercised in full or in part, Purchaser shall purchase up to
an additional 600,000 Sponsor Warrants (the “Additional Sponsor Warrants”), in the same proportion as the amount
of the option that is so exercised, and simultaneously with such purchase of Additional Sponsor Warrants, as payment in full for
the Additional Sponsor Warrants being purchased hereunder, and at least one (1) business day prior to the closing of such portion
of the underwriters’ option to purchase additional units, Purchaser shall pay $1.50 per Additional Sponsor Warrant, up to
an aggregate amount of $900,000, by wire transfer of immediately available funds or by such other method as may be reasonably acceptable
to the Company, to the Trust Account.


 


(iii) The closing
of the purchase and sale of the Sponsor Warrants shall take place simultaneously with the closing of the Public Offering (the “Initial
Closing Date”). The closing of the purchase and sale of the Additional Sponsor Warrants, if applicable, shall take place
simultaneously with the closing of all or any portion of the underwriters’ option to purchase additional units (such closing
date, together with the Initial Closing Date, the “Closing Dates” and each, a “Closing Date”).
The closing of the purchase and sale of each of the Sponsor Warrants and the Additional Sponsor Warrants shall take place at the
offices of Ellenoff Grossman & Schole LLP, 1345 Avenue of the Americas, New York, New York, 10105, or such other place as may
be agreed upon by the parties hereto.


 






     


     


    

 


C. Terms of the Sponsor Warrants.


 


(i) Each Sponsor Warrant shall have the
terms set forth in a Warrant Agreement (the “Warrant Agreement”) to be entered into by the Company and a warrant
agent, which Warrant Agreement shall also govern the terms for the warrants to be sold in the Public Offering. All Sponsor Warrants
will be subject to the same Warrant Agreement and will have the same terms.


 


(ii) At the time of, or prior to, the
closing of the Public Offering, the Company and the Purchaser shall enter into a registration rights agreement (the “Registration
Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser relating to
the Sponsor Warrants and the Shares underlying the Sponsor Warrants.


 


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


 


A. Organization and Corporate
Power. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware
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 Sponsor Warrants have been duly authorized by the Company as of the applicable 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 Sponsor Warrants will constitute valid
and binding obligations of the Company, enforceable in accordance with their terms as of the applicable Closing Date.


 


(ii) The execution and delivery by the
Company of this Agreement and the Sponsor Warrants, the issuance and sale of the Sponsor Warrants, the issuance of the Shares upon
exercise of the Sponsor 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 applicable Closing Date (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 capital stock 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 certificate of incorporation or the bylaws of the Company (as in effect on the date hereof
or as may be amended up to the applicable Closing Date), 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, the terms hereof and the Warrant Agreement, the Shares issuable upon exercise
of the Sponsor Warrants will be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment
pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will have good title to the Sponsor Warrants and the Shares
issuable upon exercise of such Sponsor 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 Purchaser.


 


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.


 






     


     


    

 


Section 3. Representations and
Warranties of the Purchaser. As a material inducement to the Company to enter into this Agreement and issue and sell the Sponsor
Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties shall
survive the applicable 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.


 


C. Investment Representations.


 


(i) The Purchaser is acquiring the Sponsor
Warrants and, upon exercise of the Sponsor 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 of 1933, as amended (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 did not decide to enter
into this Agreement 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) in a transaction 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. In this regard, the Purchaser understands that the Securities and Exchange Commission has taken the position
that promoters or affiliates of a blank check company and their transferees, both before and after a Business Combination (as defined
in the Warrant Agreement), 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 despite technical compliance with the requirements of such Rule, and the Securities can be resold
only through a registered offering or in reliance upon another exemption from the registration requirements of the Securities Act.


 






     


     


    

 


(viii) The Purchaser understands that
the Warrants will bear a legend substantially to the following effect:


 


THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED
OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS
OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE
LETTER AGREEMENT BY AND AMONG ACAMAR PARTNERS ACQUISITION CORP. (THE “COMPANY”) AND ACAMAR PARTNERS SPONSOR I LLC AND
THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED HEREBY MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS
AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN THE WARRANT AGREEMENT REFERRED
TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE
SUBJECT TO SUCH TRANSFER PROVISIONS.


 


THE SECURITIES REPRESENTED HEREBY AND SHARES
OF CLASS A COMMON STOCK OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER
A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.


 


(ix) The Purchaser has such knowledge
and experience in financial and business matters, knowledge 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.


 


Section 4. Conditions of the Purchaser’s
Obligation. The obligation of the Purchaser to purchase and pay for the Sponsor Warrants is subject to the fulfillment, on
or before the applicable 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 the applicable 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 the applicable 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 a Warrant Agreement with a warrant agent and the Registration Rights
Agreement, each on terms satisfactory to the Purchaser.


 


E. Corporate Consents. The Company
shall have obtained the consent of its board of directors (the “Board”), authorizing the execution, delivery
and performance of this Agreement and the Warrant Agreement and the issuance and sale of the Sponsor Warrants hereunder.


 


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


 


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


 


B. Performance. The Purchaser
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 Purchaser on or before the applicable 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 a Warrant Agreement with a warrant agent and the Registration Rights
Agreement, each on terms satisfactory to the Purchaser.


 


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


 


Section 6. Termination. This
Agreement shall automatically terminate upon the earlier of (i) the time at which all of the Sponsor Warrants have been sold
and (ii) June 30, 2019.


 


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


 


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, other than
assignments by the Purchaser 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. Notices. All written notices
provided for herein shall be in writing and be given in person or by means of facsimile or other electronic communication (with
respect for assurance of receipt in a manner typical with respect to communication of that type), by overnight courier or by mail,
and shall become effective: (a) on delivery if given in person; (b) on the date of transmission if sent by facsimile or other electronic
communication; (c) one (1) business day after delivery to the overnight service or (d) four (4) business days after being mailed,
with proper postage and documentation, for first-class registered or certified mail, prepaid. All notices shall be addressed to
the addresses listed in Exhibit A hereto.


 


D. Counterparts. This Agreement
may be executed simultaneously in two (2) 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. 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.


 


E. 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.


 


F. 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.


 


G. 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]


 


 




     


     


    

 





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


 


	 	 	 	 
	 	ACAMAR PARTNERS SPONSOR I LLC	 
	 	 	 	 
	 	By:	
        /s/ Joseba Asier Picaza Ucar

        
	 
	 	Name:	Joseba Asier Picaza Ucar	 
	 	Title:	Managing Member	 


 


	AGREED AND ACCEPTED:
	 
	COMPANY:
	 
	ACAMAR PARTNERS ACQUISITION CORP.


 


	 	 	 
	By:	
        /s/ Luis Ignacio Solorzano
        Aizpuru

        
	 
	 	Name:	 Luis Ignacio Solorzano Aizpuru	 
	 	Title:   	Chief Executive Officer	 


 


 


 


 





[Signature Page to Warrant Purchase Agreement]


 









     


     


    




 


Exhibit A


 


Notices


 


 


 


If to the Purchaser:


 


Acamar Partners Sponsor I LLC

1450 Brickell Avenue, Suite 2130

Miami, Florida 33131

Telephone: (786) 264-6680


 


 





If to the Company:


 


Acamar Partners Acquisition Corp.

1450 Brickell Avenue, Suite 2130

Miami, Florida 33131

Telephone: (786) 264-6680