Exhibit
10.5


 


Nova
Vision Acquisition Corp.


Room
602, 6/F


168
Queen’s Road Central


Central,
Hong Kong


 


Ladies
and Gentlemen:


 


Nova
Vision Acquisition Corp. (the “Company”), a blank check company formed for the purpose of acquiring one or more businesses
or entities (a “Business Combination”), intends to register its securities under the Securities Act of 1933, as amended (“Securities
Act”), in connection with its initial public offering (“IPO”), pursuant to a registration statement on Form S-1 (“Registration
Statement”).


 


The undersigned hereby commits
that it will purchase 286,500 units of the Company (“Private Units”), each Private Unit consisting of one ordinary share
of the Company, par value $0.0001 per share (the “Ordinary Shares”), one warrant (the “Warrants”) entitling
its holder to purchase one-half (1/2) of one Ordinary Share, and one right entitling its holder to receive one-tenth (1/10) of one
Ordinary Share, at $10.00 per Private Unit, for a purchase price of $2,865,000 (the “Private Unit Purchase Price”).


 


The undersigned hereby agrees that
it will purchase an additional amount of units of the Company (“Over-Allotment Units”), up to a maximum of 21,000 Over-Allotment
Units, or a maximum purchase price of $210,000 (“Over-Allotment Unit Purchase Price”, together with the Private Unit Purchase
Price, the “Purchase Price”), in the event EF Hutton, division of Benchmark Investments, LLC (“EF
Hutton”) exercises its over-allotment option, such that the amount held in the trust account (as described in the Registration
Statement) does not fall below $10.01 per share for each Ordinary Share sold in the IPO.


 




At
least twenty-four (24) hours prior to the effective date of the Registration Statement, the undersigned will cause the Private Unit Purchase
Price to be delivered to Loeb & Loeb LLP (“Loeb”), counsel for the Company, by wire transfer as set forth in the instructions
attached as Exhibit A to hold in a non-interest bearing account until the Company consummates the IPO.


 


The
consummation of the purchase and issuance of the Private Units shall occur simultaneously with the consummation of the IPO and the consummation
of the purchase and issuance of the Over-Allotment Units shall occur simultaneously with the closing of any exercise of the over-allotment
option related to the IPO. Simultaneously with the consummation of the IPO, Loeb shall deposit the Private Unit Purchase Price, without
interest or deduction, into the trust fund (“Trust Fund”) established by the Company for the benefit of the Company’s
public shareholders as described in the Registration Statement. If the Company does not complete the IPO within ten (10) days from the
date of this letter, the Private Unit Purchase Price (without interest or deduction) will be returned to the undersigned.


 


Each
of the Company, and the undersigned acknowledges and agrees that Loeb is serving hereunder solely as a convenience to the parties to
facilitate the purchase of the Private Units and Loeb’s sole obligation under this letter agreement is to act with respect to holding
and disbursing the Private Unit Purchase Price as described above. Loeb shall not be liable to the Company, EF Hutton or the undersigned
or any other person or entity in respect of any act or failure to act hereunder or otherwise in connection with performing its services
hereunder unless Loeb has acted in a manner constituting gross negligence or willful misconduct. The Company and the undersigned shall
indemnify Loeb against any claim made against it (including reasonable attorney’s fees) by reason of it acting or failing to act
in connection with this letter agreement except as a result of its gross negligence or willful misconduct. Loeb may rely and shall be
protected in acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed
by it to be genuine and to have been signed or presented by the proper party or parties.


 




    	 



     


    

 


The
Private Units and Over-Allotment Units will be identical to the units to be sold by the Company in the IPO. Additionally, the undersigned
agrees:


 


	 	●	to
    vote the Ordinary Shares included in the Private Units and Over-Allotment Units in favor of any proposed Business Combination;
	 	 	 
	 	●	not
    to propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum and Articles of Association
    that would affect the substance or timing of the Company’s obligation to redeem 100% of the Company’s Ordinary Shares
    sold in the IPO if the Company does not complete an initial Business Combination within 12 (or 15 or up to 21) months
    from the closing of the IPO, unless the Company provides the holders of Ordinary Shares sold in the IPO with the opportunity to redeem
    their Ordinary Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount of
    the Trust Fund, including interest earned on Trust Fund and not previously released to the Company to pay the Company’s franchise
    and income taxes, divided by the number of then outstanding Ordinary Shares sold in the IPO; 
	 	 	 
	 	●	not
    to convert any Ordinary Shares included in the Private Units and Over-Allotment Units into the right to receive cash from the Trust
    Fund in connection with a shareholder vote to approve either a Business Combination or an amendment to the provisions of the Company’s
    Amended and Restated Memorandum and Articles of Association, and not to tender the Private Units and Over-Allotment Units in connection
    with a tender offer conducted prior to the closing of a Business Combination;
	 	 	 
	 	●	the
    undersigned will not participate in any liquidation distribution with respect to the Private Units and Over-Allotment Units (but
    will participate in liquidation distributions with respect to any units or Ordinary Shares purchased by the undersigned in the IPO
    or in the open market) if the Company fails to consummate a Business Combination; 
	 	 	 
	 	●	that
    the Private Units, Over-Allotment Units and underlying securities will not be transferable until after the consummation of a Business
    Combination except (i) to the Company’s pre-IPO shareholders, or to the Company’s officers, directors, advisors and employees,
    (ii) transfers to the undersigned’s affiliates or its members upon its liquidation, (iii) to relatives and trusts for estate
    planning purposes, (iv) by virtue of the laws of descent and distribution upon death, (v) pursuant to a qualified domestic relations
    order, (vi) by certain pledges to secure obligations incurred in connection with purchases of the Company’s securities, (vii)
    by private sales made in connection with the consummation of a Business Combination at prices no greater than the price at which
    the Private Units were originally purchased or (viii) to the Company for cancellation in connection with the consummation of a Business
    Combination, in each case (except for clause viii) where the transferee agrees to the terms of the transfer restrictions; and
	 	 	 
	 	●	the
    Private Units and Over-Allotment Units will include any additional terms or restrictions as is customary in other similarly structured
    blank check company offerings or as may be reasonably required by the underwriters in the IPO in order to consummate the IPO, each
    of which will be set forth in the Registration Statement.


 


The
undersigned acknowledges and agrees that the purchaser of the Private Units and Over-Allotment Units will execute agreements in form
and substance typical for transactions of this nature necessary to effectuate the foregoing agreements and obligations prior to the consummation
of the IPO as are reasonably acceptable to the undersigned, including but not limited to an insider letter.


 




    	 



     


    

 


The
undersigned hereby represents and warrants that:


 


	 	(a)	it
    has been advised that the Private Units and Over-Allotment Units have not been registered under the Securities Act; 
	 	 	 
	 	(b)	it
    will be acquiring the Private Units and Over-Allotment Units for its account for investment purposes only; 
	 	 	 
	 	(c)	it
    has no present intention of selling or otherwise disposing of the Private Units and Over-Allotment Units in violation of the securities
    laws of the United States; 
	 	 	 
	 	(d)	it
    is an “accredited investor” as defined by Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended;
    
	 	 	 
	 	(e)	it
    has had both the opportunity to ask questions and receive answers from the officers and directors of the Company and all persons
    acting on its behalf concerning the terms and conditions of the offer made hereunder; 
	 	 	 
	 	(f)	it
    is familiar with the proposed business, management, financial condition and affairs of the Company;
	 	 	 
	 	(g)	it
    has full power, authority and legal capacity to execute and deliver this letter and any documents contemplated herein or needed to
    consummate the transactions contemplated in this letter; and
	 	 	 
	 	(h)	this
    letter constitutes its legal, valid and binding obligation, and is enforceable against it.


 


This
letter agreement constitutes the entire agreement between the undersigned and the Company with respect to the purchase of the Private
Units and Over-Allotment Units, and supersedes all prior and contemporaneous understandings, agreements, representations and warranties,
both written and oral, with respect to the same.


 


	 	Very
    truly yours,
	 	 
	 	Nova
    Pulsar Holdings Limited
	 	 	 
	 	By:
    	 
	 	Name:
    	 Wing-Ho
     Ngan
	 	Title:
    	Director


 


Accepted
and Agreed:


 


Nova
Vision Acquisition Corp.


 


	By:	 	 
	Name:
	Eric
    Ping Hang Wong	 
	Title:
    	Chief
    Executive Officer	 


 




    	 



     


    

 


Exhibit
A


 


Wire
Instructions


 


	Bank
    Name: 	Citigroup
    Private Bank
	Bank
    Address: 	153
    East 53rd Street
	 	New
    York, NY 10022
	Account
    Name:	Loeb
    & Loeb LLP – Trust Account
	Account
    Number:	24576266


Routing/ABA
Number (Domestic Wires): 021000089


Swift
Code (Foreign Wire): CITIUS33


Note:
Nova Vision 237350/10001