Exhibit 10.1


 


SUBSCRIPTION
AGREEMENT


 


This
SUBSCRIPTION AGREEMENT (this “Agreement”) entered into as of the 9th day of April, 2018, by and
between Lola One Acquisition Corporation, a Delaware corporation (the “Company”), and [INVESTOR] (the “Purchaser”).


 


WHEREAS,
the Purchaser desires to purchase, and the Company desires to sell, an aggregate of a pre-funded warrant (the “Warrant”),
exercisable into 400,000 shares (the “Shares” and together with the Warrant, the “Securities”) of the
Company’s common stock, par value $0.0001 per share (the “Common Stock”), upon the terms and conditions hereof.


 


NOW,
THEREFORE, in consideration of the premises and the mutual agreements herein contained, the Purchaser and the Company hereby agree
as follows:


 


SECTION
1: SALE OF THE WARRANT


 


1.1
Sale of the Warrant. Subject to the terms and conditions hereof, the Company will sell to the Purchaser and the Purchaser
will purchase from the Company, upon the execution and delivery of this Agreement, the Warrant for a purchase price equal to $10,000
in immediately available funds (the “Purchase Price”).


 


SECTION
2: CLOSING DATE; DELIVERY


 


2.1
Closing Date. The closing of the purchase and sale of the Warrant hereunder (the “Closing”) shall be held immediately
following the execution and delivery of this Agreement.


 


2.2
Delivery at Closing. At the Closing, the Company will record the issuance of the Warrant in the Company’s stock ledger
in the Purchaser’s name, against payment of the Purchase Price therefore as indicated above.


 


SECTION
3: REPRESENTATIONS AND WARRANTIES OF PURCHASER


 


The
undersigned Purchaser hereby represents and warrants to the Company as follows:


 


3.1
Restricted Securities. Neither the Warrant nor the Shares are registered under the Securities Act of 1933, as amended (the
“Securities Act”), or any state securities laws. The Purchaser acknowledges that the Warrant and the Shares
have not been recommended by any US Federal or State securities commission or regulatory authority and have not confirmed the
accuracy or determined the adequacy of this Agreement. The Purchaser understands that the offering and sale of the Warrant is
intended to be exempt from registration under the Securities Act, by virtue of Section 4(a)(2) thereof and, if deemed advisable
by the Company, the provisions of Regulation D promulgated thereunder, based, in part, upon the representations, warranties and
agreements of the Purchaser contained in this Agreement. The Purchaser understands that the Securities may not be sold, transferred
or otherwise disposed of without registration under the Securities Act or an exemption therefrom.


 






     


     


    

 


3.2
Experience. The Purchaser has such knowledge and experience in financial and business matters that the Purchaser is capable
of evaluating the merits and risks of investment in the Company and of making an informed investment decision. The Purchaser has
adequate means of providing for the Purchaser’s current needs and possible future contingencies and the Purchaser has no
need, and anticipates no need in the foreseeable future, to sell the Warrant for which the Purchaser subscribes. The Purchaser
is able to bear the economic risks of this investment and, consequently, without limiting the generality of the foregoing, the
Purchaser is able to hold the Warrant for an indefinite period of time and has sufficient net worth to sustain a loss of the Purchaser’s
entire investment in the Company in the event such loss should occur. Except as otherwise indicated herein, the Purchaser is the
sole party in interest as to its investment in the Company, and it is acquiring the Securities solely for investment for the Purchaser’s
own account and has no present agreement, understanding or arrangement to subdivide, sell, assign, transfer or otherwise dispose
of all or any part of the Securities subscribed for to any other person.


 


3.3
Investment; Access to Data. The Purchaser has carefully reviewed and understands the risks of, and other considerations
relating to, a purchase of the Securities and an investment in the Company. The Purchaser has been furnished materials relating
to the Company, the private placement of the Securities or anything else that it has requested and has been afforded the opportunity
to ask questions and receive answers concerning the terms and conditions of the offering and obtain any additional information
which the Company possesses or can acquire without unreasonable effort or expense. Representatives of the Company have answered
all inquiries that the Purchaser has made of them concerning the Company, or any other matters relating to the formation and operation
of the Company and the offering and sale of the Securities. The Purchaser has not been furnished any offering literature other
than the materials that the Company may have provided at the request of the Purchaser; and the Purchaser has relied only on such
information furnished or made available to the Purchaser by the Company as described in this Section. The Purchaser is acquiring
the Securities for investment for the Purchaser’s own account, not as a nominee or agent and not with the view to, or for
resale in connection with, any distribution thereof. The Purchaser acknowledges that the Company is a start-up company with no
current operations, assets or operating history, which may possibly cause a loss of Purchaser’s entire investment in the
Company.


 


3.4
Authorization. (a) This Agreement, upon execution and delivery thereof, will be a valid and binding obligation of Purchaser,
enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization and moratorium laws and
other laws of general application affecting enforcement of creditors’ rights generally.


 


(b)
The execution, delivery and performance by Purchaser of this Agreement and compliance therewith and the purchase and sale of the
Warrant will not result in a violation of and will not conflict with, or result in a breach of, any of the terms of, or constitute
a default under, any provision of state or Federal law to which Purchaser is subject, or any mortgage, indenture, agreement, instrument,
judgment, decree, order, rule or regulation or other restriction to which the Purchaser is a party or by which the Purchaser is
bound, or result in the creation of any mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of
Purchaser pursuant to any such term.


 






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3.5
Accredited Investor. Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D under the Securities
Act of 1933, as amended and has executed the statement of accredited investor annexed hereto as Exhibit A.


 


SECTION
4: MISCELLANEOUS


 


4.1
Governing Law. This Agreement shall be governed in all respects by the laws of the State of Delaware, without regard to
conflicts of laws principles thereof.


 


4.2
Survival. The terms, conditions and agreements made herein shall survive the Closing.


 


4.3
Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit
of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto.


 


4.4
Entire Agreement; Amendment; Waiver. This Agreement constitutes the entire and full understanding and agreement between
the parties with regard to the subject matter hereof. Neither this Agreement nor any term hereof may be amended, waived, discharged
or terminated, except by a written instrument signed by all the parties hereto.


 


4.5
Counterparts; Electronic Signature. This Agreement may be executed in any number of counterparts, each of which shall be
an original, but all of which together, shall constitute one instrument. This Agreement may be executed by facsimile or pdf signature
by any party and such signature will be deemed binding for all purposes hereof without delivery of an original signature being
thereafter required.


 


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IN
WITNESS WHEREOF, the undersigned have hereunto set their hands as of the day and year first above written.


 





	 	LOLA ONE ACQUISITION CORPORATION.
	 	 	 
	 	By:	 
	 	 	Ian Jacobs
	 	 	President, Secretary, Chief Executive Officer,
	 	 	and Chief Financial Officer
	 	 	 
	 	PURCHASER
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 


 






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Exhibit
A


 


STATEMENT
OF ACCREDITED INVESTOR


 


To:       Lola
One Acquisition Corporation (the “Company”)


 


Ladies
and Gentlemen:


 


The
undersigned hereby refers to the Subscription Agreement executed and delivered to the Company by the undersigned as of the date
hereof. In connection with the subscription thereunder by the undersigned to purchase securities of the Company, the undersigned
hereby represents and warrants that such individual or entity meets at least one of the tests listed below for an “accredited
investor” (as such term is defined under Regulation D promulgated pursuant to the Securities Act of 1933, as amended).


 


“Accredited
Investors” are accorded special status under the federal securities laws. Individuals who hold certain positions with an
issuer or its affiliates, or who have certain minimum individual income or certain minimum net worth (each as described below)
may qualify as Accredited Investors. Partnerships, corporations or other entities may qualify as Accredited Investors if they
fulfill certain financial and other standards, or if all of their equity owners have incomes and/or net worth which qualify them
individually as Accredited Investors, and trusts may qualify as Accredited Investors if they meet certain financial and other
tests (as described below).


 


You
may qualify as an Accredited Investor under Regulation D promulgated under the Securities Act of 1933 (the “Securities Act”)
if you meet any of the following tests (please check all that apply):


 


_____
(a) The undersigned is a natural person whose net worth, or joint net worth with spouse, at the time of purchase, exceeds
$1,000,000 (excluding the value of the undersigned’s primary residence).1


 


_____
(b)The undersigned is a natural person whose individual income (excluding that of his or her spouse) exceeded $200,000 in
each of the last two years, i.e., 2016 and 2017, and who reasonably expects individual income exceeding $200,000 in the current
year.


 


_____
(c) The undersigned is a natural person whose joint gross income with his or her spouse exceeded $300,000 in each of the last
two years, i.e., 2016 and 2017, and who reasonably expects joint gross income with his or her spouse exceeding $300,000 in the
current year.


 


_____
(d) The undersigned is:


 


_____
(i)a bank as defined in section 3(a)(2) of the Securities Act, or any savings and loan association or other institution
as defined in section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity;


 


_____
(ii)a broker or dealer registered pursuant to section 15 of the Securities Exchange Act of 1934, as amended;


 





 



1
For purposes of calculation net worth in paragraph (a) above, (i) the undersigned’s primary residence shall not be
included as an asset; (ii) indebtedness secured by the undersigned’s primary residence, up to the estimated fair market
value of such primary residence as of the date hereof, shall not be included as a liability (except that if the amount of such
indebtedness outstanding as of the date hereof exceeds the amount outstanding as of 60 days before the date hereof, other than
as a result of the acquisition of such primary residence, the amount of such excess shall be included as a liability) and (iii)
indebtedness that is secured by the undersigned’s primary residence in excess of the estimated fair market value of such
primary residence as of the date hereof, shall be included as a liability.


 






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_____
(iii)an insurance company as defined in section 2(a)(13) of the Securities Act; any investment company registered under
the Investment Company Act of 1940 or a business development company as defined in section 2(a)(48) of such act;


 


_____
(iv)any Small Business Investment Company licensed by the U.S. Small Business Administration under section 301(c) or (d)
of the Small Business Investment Act of 1958;


 


_____
(v)any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state
or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; or


 


_____
(vi)any employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment
decision is made by a plan fiduciary, as defined in section 3(21) of such act, which is either a bank, savings and loan association,
insurance company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000
or, if a self-directed plan, with investment decisions made solely by persons that are accredited investors.


 


_____
(e) The undersigned is a private business development company as defined in section 202(a)(22) of the Investment Advisers
Act of 1940.


 


_____
(f) The undersigned is a trust, and the grantor (i) has the power to revoke the trust at any time and regain title to the
trust assets; and (ii) meets the requirements of items (a) (b), or (c) above.


 


_____
(g) The undersigned is a tax-exempt organization described in Section 501(c) (3) of the Internal Revenue Code, or a corporation,
Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the securities with
total assets in excess of $5,000,000.


 


_____
(h) The undersigned is a trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring
the securities, whose purchase is directed by a person who has such knowledge and experience in financial and business matters
that he or she is capable of evaluating the merits and risks of an investment in the securities.


 


_____
(i) The undersigned is an entity in which all of the equity owners meet any of the requirements of items (a) through (h) above.


 


[SIGNATURE
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Dated:
__________ ___, 2018


 


	 	Very truly yours,
	 	 
	 	 
	 	Name of Individual #1 or Entity
	 	 
	 	 
	 	Authorized Signature
	 	 
	 	 
	 	Address
	 	 
	 	 


 


 


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