Document:

Exhibit 10.4

 

European Biotech Acquisition Corp. 

Johannes Vermeerplein 9

1071 DV Amsterdam, Netherlands

 

March 15, 2021

 

LSP Sponsor EBAC B.V.

Johannes Vermeerplein 9

1071 DV Amsterdam, Netherlands

 

Ladies and Gentlemen:

 

This letter will confirm our agreement that, commencing on the
effective date (the “Effective Date”) of the registration statement (the “Registration Statement”)
for the initial public offering (the “IPO”) of the securities of European Biotech Acquisition Corp. (the
“Company”) and continuing until the earlier of (i) the consummation by the Company of an initial business
combination and (ii) the Company’s liquidation (in each case as described in the Registration Statement) (such earlier date
hereinafter referred to as the “Termination Date”), LSP Sponsor EBAC B.V. (the “Sponsor”)
shall take steps directly or indirectly to make available to the Company certain office space, secretarial and administrative services
as may be required by the Company from time to time, situated at Johannes Vermeerplein 9, 1071 DV Amsterdam, Netherlands (or any
successor location). In exchange therefore, the Company shall pay the Sponsor a sum of $20,000 per month on the Effective Date
and continuing monthly thereafter until the Termination Date. The Sponsor hereby agrees that it does not have any right, title,
interest or claim of any kind (a “Claim”) in or to any monies that may be set aside in a trust account
(the “Trust Account”) that may be established upon the consummation of the IPO and hereby irrevocably
waives any Claim it may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with the
Company and will not seek recourse against the Trust Account for any reason whatsoever.

 

This letter agreement constitutes the entire agreement and understanding
of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements, or representations
by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions
contemplated hereby.

 

This letter agreement may not be amended, modified or waived
as to any particular provision, except by a written instrument executed by the parties hereto.

 

The parties may not assign this letter agreement and any of
their rights, interests, or obligations hereunder without the consent of the other party.

 

This letter agreement shall be governed by, construed in accordance
with, and interpreted pursuant to the laws of the State of New York, without giving effect to its choice of laws principles that
will apply the laws of another jurisdiction.

 

This letter agreement may be executed in one or more counterparts,
each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same agreement.
Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence
of this letter agreement.

 

[Signature Page Follows]

 

     

     

    

	 	 	 
	 	Sincerely,	 
	 	 	 
	 	EUROPEAN BIOTECH ACQUISITION CORP.
	 	 	 
	 	By:	
        /s/ Eduardo Bravo
Fernandez de Araoz

	 	Name:	 Eduardo Bravo Fernandez de Araoz
	 	Title:	 Chief Executive Officer

 

	 	 	 
	AGREED AND ACCEPTED BY:	 
	LSP SPONSOR EBAC B.V.	 
	 	 	 
	By:	
        /s/ Martijn Kleijwegt
	 

	Name:  	Martijn Kleijwegt	 
	Title:	Director	 
	 	 	 
	By:	
        /s/ Mark Wegter
	 

	Name:	Mark Wegter	 
	Title:	DirectorExhibit 10.5

 

PRIVATE PLACEMENT UNITS PURCHASE AGREEMENT

 

THIS PRIVATE PLACEMENT UNITS PURCHASE AGREEMENT (as it may from
time to time be amended and including all exhibits referenced herein, this “Agreement”), dated as of
March 15, 2021, is entered into by and between European Biotech Acquisition Corp., a Cayman Islands exempted company (the “Company”),
and LSP Sponsor EBAC B.V., a Dutch limited liability company (the “Purchaser”).

 

WHEREAS, the Company intends to consummate an initial public
offering of the Company’s units (the “Public Offering”), each unit consisting of one Class A ordinary
share of the Company, par value $0.0001 per share (each, a “Share”), and one-third of one redeemable
warrant, each whole warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share, as set forth in
the Company’s Registration Statement on Form S-1, filed with the U.S. Securities and Exchange Commission (the “SEC”),
File Number 333-253220, under the Securities Act of 1933, as amended (the “Securities Act”).

 

WHEREAS, the Purchaser has agreed to purchase an aggregate of
440,000 units (and up to 36,000 additional units if the underwriters in the Public Offering exercise their option to purchase additional
units in full) (the “Private Placement Units”), each Private Placement Unit, including an aggregate of
146,667 private placement warrants (the “Private Placement Warrants”) (or up to 158,667 Private Placement
Warrants if the underwriters exercise their option to purchase additional units in full) and 440,000 Shares (or up to 476,000 Shares
if the underwriters exercise their option to purchase additional units in full).

 

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 Units

 

A. Authorization of the Private Placement Units. The
Company has duly authorized the issuance and sale of the Private Placement Units, including the Shares and Private Placement Warrants
underlying the Private Placement Units, to the Purchaser.

 

B. Purchase and Sale of the Private Placement Units.

 

(i) On the date of the consummation of the Public Offering (the
“IPO Closing Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase
from the Company, 440,000 Private Placement Units at a price of $10.00 per Private Placement Unit for an aggregate purchase price
of $4,400,000 (the “Purchase Price”). The Purchaser shall pay $2,000,000 to the Company at a financial
institution to be chosen by the Company, and (ii) $2,400,000 to the trust account (the “Trust Account”) maintained
by Continental Stock Transfer & Trust Company, acting as trustee, in each case in accordance with the Company’s wiring
instructions, at least one (1) business day prior to the IPO Closing Date. On the IPO Closing Date, subject to the receipt of funds
pursuant to the immediately prior sentence, the Company, at its option, shall deliver a certificate evidencing the Private Placement
Units purchased by the Purchaser on such date duly registered in the Purchaser’s name to the Purchaser or effect such delivery
in book-entry form.

 

(ii) On the date of any closing of the option to purchase additional
units, if any, in connection with the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser
and the Company (each such date, an “Option Closing Date”, and each Option Closing Date (if any) and
the IPO Closing Date, a “Closing Date”), the Company shall issue and sell to the Purchaser, and the Purchaser
shall purchase from the Company, up to 36,000 Private Placement Units (or, to the extent the option to purchase additional units
is not exercised in full, a lesser number of Private Placement Units in proportion to portion of the option that is exercised)
at a price of $10.00 per Private Placement Unit for an aggregate purchase price of up to $360,000 (the “Option Purchase
Price”). The

 

     

     

    

Purchaser shall pay the Option Purchase Price in accordance
with the Company’s wire instruction by wire transfer of immediately available funds to the Trust Account, at least one (1)
business day prior to any Option Closing Date. On each Option Closing Date (if any), subject to the receipt of funds pursuant to
the immediately prior sentence, the Company shall, at its option, deliver a certificate evidencing the Private Placement Units
purchased on such date duly registered in the Purchaser’s name to the Purchaser or effect such delivery in book-entry form.

 

C. Terms of the Private Placement Units.

 

(i) The Private Placement Units are substantially identical
to the units to be offered in the Public Offering except that (a) the Private Placement Units (including the underlying Shares,
Private Placement Warrants and the Shares issuable upon exercise of the Private Placement Warrants) will not, except in limited
circumstances, be transferable or salable until 30 days after the completion of the Company’s initial business combination
(the “Business Combination”) so long as they are held by the Purchaser or its permitted transferees,
and (b) the Private Placement Units 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 (a) and they are registered
pursuant to the Registration and Shareholder Rights Agreement (as defined below) or an exemption from registration is available,
and the restrictions described above in clause (a) have expired.

 

(ii) Each Private Placement Warrant included in the Private
Placement Units 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”).

 

(iii) On the IPO Closing Date, the Company and the Purchaser
shall enter into a registration and shareholder rights agreement (the “Registration and Shareholder Rights Agreement”)
pursuant to which the Company will grant certain registration rights to the Purchaser relating to the Private Placement Units,
the Private Placement Warrants and the Shares underlying the Private Placement Warrants and the Private Placement Units.

 

Section 2. Representations and Warranties of the Company.
As a material inducement to the Purchaser to enter into this Agreement and purchase the Private Placement Units, the Company hereby
represents and warrants to the Purchaser (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 Units, including the Shares and the Private Placement Warrants included in the Private Placement Units,
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, 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). Upon issuance in accordance with, and payment pursuant to, the terms of
the Warrant Agreement and this Agreement, the Private Placement Units and the Private Placement Warrants included in the Private
Placement Units will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of
the Closing Date.

 

(ii) The execution and delivery by the Company of this Agreement
and the Private Placement Units, the issuance and sale of the Private Placement Units, the issuance of the Private Placement Warrants
and the Shares included in the Private Placement Units, 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 each
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

 

     

     

    

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 amended and restated 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, the terms hereof and the Warrant Agreement, and upon registration in the Company’s register of members,
the Shares included in the Private Placement Units and issuable upon exercise of the Private Placement Warrants will be duly and
validly issued, fully paid and nonassessable. On the date of issuance of the Private Placement Units, the Shares included in the
Private Placement Units and 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, and upon registration in the
Company’s register of members, the Purchaser will have good title to the Private Placement Units purchased by it, the Private
Placement Warrants and Shares included in the Private Placement Units 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 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.

 

E. Regulation D Qualification. Neither the Company nor,
to its actual knowledge, any of its affiliates, members, 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.

 

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 Private Placement Units to the Purchaser,
the Purchaser 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 (a)
conflict with or result in a breach by the Purchaser 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 Purchaser’s equity or assets under,
(d) result in a violation of, or (e) require 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 Purchaser’s organizational
documents 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 Purchaser is subject, or any agreement, instrument, order, judgment or decree to
which the Purchaser is subject, except for any filings required after the date hereof under federal or state securities laws.

 

C. Investment Representations.

 

     

     

    

(i) The Purchaser is acquiring the Private Placement Units,
the Shares and Private Placement Warrants included in the Private Placement Units and, upon exercise of such Private Placement
Warrants, the Shares issuable upon such exercise (collectively, the “Securities”) for its 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 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) of Regulation D 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 and Shareholder 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 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 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 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. 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 investments in the Securities.

 

(ix) The Purchaser understands that the Private Placement Units
and the Shares included in the Private Placement Units shall bear the following legend and appropriate “stop transfer restrictions”:

 

     

     

    

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, 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 SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS
AVAILABLE.

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
LOCKUP PROVISIONS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF DURING THE TERM OF THE LOCKUP.”

 

(x) The Purchaser understands that the Private Placement Warrants
shall bear the legend substantially in the form set forth in the Warrant Agreement.

 

Section 4. Conditions of the Purchaser’s Obligations.
The obligations of the Purchaser to purchase and pay for the Private Placement Units 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 and Shareholder Rights
Agreement. The Company shall have entered into the Warrant Agreement, in the form of Exhibit A hereto, and the Registration
and Shareholder Rights Agreement, in the form of Exhibit B hereto, in each case on terms satisfactory to the Purchaser.

 

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 each 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 such 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 such Closing Date.

 

C. 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 Units hereunder.

 

D. 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.

 

E. Warrant Agreement. The Company shall have entered
into the Warrant Agreement.

 

     

     

    

Section 6. 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 (including, without limitation one or more of its members).

 

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. Signatures to this Agreement transmitted via facsimile or e-mail shall be
valid and effective to bind the party so signing.

 

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 giving effect to conflicts of law principles that would result in the application of the
laws of another jurisdiction.

 

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

 

[Signature page follows]

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

IN WITNESS WHEREOF, the parties hereto have executed this Agreement.

 

	 	 	 
	 	COMPANY:
	 	 	 
	 	EUROPEAN BIOTECH ACQUISITION CORP.
	 	 
	 	 	 
	 	By:	
        /s/ Eduardo Bravo
Fernandez de Araoz

	 	Name:  	Eduardo Bravo Fernandez de Araoz
	 	Title:	Chief Executive Officer
	 	 	 
	 	 	 
	 	PURCHASER:
	 	 	 
	 	LSP SPONSOR EBAC B.V.
	 	 	 
	 	 	 
	 	By:	
        /s/ Martijn Kleijwegt

	 	Name:	Martijn Kleijwegt
	 	Title:	Director
	 	 	 
	 	By:	
        /s/ Mark Wegter

	 	Name:	Mark Wegter
	 	Title:	Director

 

 

 

 

     

     

    

EXHIBIT A 

 

Warrant Agreement 

 

     

     

    

EXHIBIT B 

 

Registration and Shareholder Rights Agreement

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