Document:

Exhibit 10.12

 

PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT

 

THIS PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT,
dated as of January 29, 2021 (as it may from time to time be amended, this “Agreement”), is entered into
by and between Growth Capital Acquisition Corp., a Delaware corporation (the “Company”) and HB Strategies LLC,
a Delaware 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
share of Class A common stock of the Company, par value $0.0001 per share (each, a “Class A Share”),
and one-half of one redeemable warrant, each whole warrant entitling the holder to purchase one Class A Share at an exercise
price of $11.50 per Share; and

 

WHEREAS, The Purchaser has agreed to purchase
an aggregate of 1,560,000 warrants (or 1,725,000 warrants if the over-allotment
option is exercised in full by the Underwriters in the Public Offering) for an aggregate purchase price of $840,000 (or $862,500
warrants if the over-allotment option is exercised in full by the Underwriters in the Public Offering) (the “Private
Placement Warrants”), in a private placement, each Private Placement Warrant entitling the holder to purchase one Class A
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 Purchaser.

 

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 Purchaser and the
Company (the “Initial Closing Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall
purchase from the Company, an aggregate of 1,560,000 Private Placement Warrants for an aggregate purchase price of $840,000 (the
 “Purchase Price”). Purchaser shall pay the Purchase Price by wire transfer of immediately available funds to
the trust account (the “Trust Account”) maintained by Continental Stock Transfer & Trust Company, acting
as trustee (”Continental”), at least one (1) business day prior to the closing of the initial public offering
(“IPO Closing”).  On the Initial Closing Date, upon the payment by the Purchaser of the Purchase Price,
the Company shall deliver the Private Placement Warrants purchased on such date duly registered in the Purchaser’s name in
book-entry form.

 

(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 Purchaser 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”), Purchaser shall purchase up to an additional 165,000
Private Placement Warrants (the “Additional Warrants”), in the same proportion as the amount of the option that
is so exercised, and simultaneously with such purchase of Additional Warrants, as payment in full for the Additional Warrants being
purchased hereunder, and at least one (1) business day prior to the Over-Allotment Closing Date, Purchaser shall pay up to
an aggregate amount of $22,500 (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. On the Over-Allotment Closing
Date, upon the payment by the Purchaser of the Over-Allotment Purchase Price, the Company shall the Additional Warrants purchased
on such date duly registered in the Purchaser’s name in book-entry form.

 

     

     

    

 

(iii)            The
Company and the Purchaser agree that this Agreement and the terms and conditions contained herein regarding the purchase and sale
of the Private Placement Warrants shall supersede, in its entirety, that certain Subscription Agreement, dated August 14,
2020 (the “August Subscription Agreement”), by and between the Company and the Purchaser, solely with respect
to the Purchaser’s obligation thereunder to purchase units of the Company, and for the avoidance of doubt, this Agreement
shall not affect any other transactions, rights, or benefits contemplated by or any other terms or provisions contained in the
August Subscription Agreement.

 

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 Continental in connection with the
Public Offering (the “Warrant Agreement”). Such terms include the fact that the Private Placement Warrants shall
not be transferable, assignable or salable until 30 days after the completion of an initial business combination, subject to certain
exceptions set forth in the Warrant Agreement.

 

(ii)  On or prior to the IPO Closing,
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 Private Placement Warrants
and the Class A Shares underlying the Private Placement Warrants and other securities held by the Purchaser. The Registration
Rights Agreement shall be acceptable to the Purchaser in form and substance and shall be no less favorable to the Purchaser than
the registration rights granted to any other holder of securities of the Company.

 

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 Warrants,
the Company hereby represents and warrants to the Purchaser (which representations and warranties shall survive the Closing Date)
that:

 

A.  Incorporation
and Corporate Power.  The Company is a corporation duly incorporated, 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 Warrant Agreement 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.

 

(ii)  The execution and delivery by
the Company of this Agreement and the Warrant Agreement, the issuance and sale of the Private Placement Warrants, the issuance
of the Class A 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 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 certificate of incorporation 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, the Warrant Agreement, the Class A 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 Class A 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 Purchaser will have good title to the Private Placement Warrants and the Class A 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. Valid Issuance.
The total number of shares of all classes of capital stock which the Company has authority to issue is 110,000,000 shares of common
stock, including 100,000,000 Class A Shares and 10,000,000 shares of Class B common stock, $0.0001 par value per share
(“Class B Common Stock”), and 1,000,000 shares of preferred stock, $0.0001 par value per share (“Preferred
Stock”). As of the date hereof, the Company has issued and outstanding 4,312,500 shares of Class B Common Stock
(of which up to 562,500 shares are subject to forfeiture as described in the registration statement in connection with the IPO
(the “Registration Statement”)), no Class A Shares and no shares of Preferred Stock. All of the issued
shares of capital stock of the Company have been duly authorized, validly issued, and are fully paid and non-assessable.

 

E.  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 Private Placement
Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties shall
survive the 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 the 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
Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Class A 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 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) 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.

 

Section 4.  Conditions of the Purchaser’s
Obligations.  The obligations of the Purchaser to purchase and pay for the Private Placement Warrants are subject to the
fulfillment, on or before the 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.  The Company shall
have entered into the Warrant Agreement.

 

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

 

Section 6.  Termination.  This Agreement
may be terminated at any time after March 31, 2021 upon the election by either the Company or the Purchaser solely as to itself
upon written notice to the other party 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 the Closing Date.

 

Section 8.  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 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.  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.

 

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.

 

     

     

    

 

Section 9. Most Favored Nation. Without the
prior written consent of Purchaser, the Company has not provided, and shall not provide, to any existing or future investor of
the Company, contract terms, rights or benefits more favorable, in form or substance, than those provided to the Purchaser by this
Agreement with respect to the securities purchased hereunder and other rights provided to the Purchaser hereby, unless, in any
such case, Purchaser has been provided with such contract terms, rights and benefits.

 

[Signature page follows]

 

     

     

    

 

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

 

	 	
         

        GROWTH CAPITAL ACQUISITION CORP.

	 	 	 
	 	By:	 /s/ George Syllantavos
	 	 	Name:  George Syllantavos
	 	 	Title:    Co-Chief Executive Officer

 

	 	HB Strategies LLC
	 	 	 
	 	By:	 /s/ George Antonopoulos
	 	 	Name: George Antonopoulos
	 	 	Title:   Authorized Signatory

 

[Signature
page to Private Placement Warrants Purchase Agreement]Exhibit
10.13

 

Growth
Capital Acquisition Corp. 

The Chrysler
Building 

405 Lexington
Ave 

New York,
NY 10174

 

January 29,
2021

 

Growth Capital Sponsor LLC 

The Chrysler Building

405 Lexington Ave

New York, NY 10174

 

Re: Administrative
Support Agreement

 

Ladies and
Gentlemen:

 

This
letter agreement by and between Growth Capital Acquisition Corp. (the “Company”) and Growth Capital Sponsor LLC (the
 “Sponsor”), dated as of the date hereof, will confirm our agreement that, commencing on the date the securities of
the Company are first listed on the Nasdaq Stock Exchange (the “Listing Date”), pursuant to a Registration Statement
on Form S-1 and prospectus filed with the U.S. Securities and Exchange Commission (the “Registration Statement”)
and continuing until the earlier of the consummation by the Company of an initial business combination or the Company’s
liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination
Date”):

 

(i) The
Sponsor shall make available, or cause to be made available, to the Company, The Chrysler Building 405 Lexington Ave, New
York, NY 10174 (or any successor location of the Sponsor), certain office space, utilities and secretarial and administrative
support as may be reasonably required by the Company. In exchange therefor, the Company shall pay the Sponsor the sum of
$5,750 per month on the Listing Date and continuing monthly thereafter until the Termination Date; and

 

(ii) The
Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result of,
or arising out of, this letter agreement (each, a “Claim”) in or to, and any and all right to seek payment of any
amounts due to it out of, the trust account established for the benefit of the public stockholders of the Company and into which
substantially all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”)
as a result of, or arising out of, this letter agreement, and hereby irrevocably waives any Claim it may have in the future, which
Claim would reduce, encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account,
and further agrees not to seek recourse, reimbursement, payment or satisfaction of any Claim against the Trust Account or any
monies or other assets in 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.

 

No
party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior
written approval of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and
shall not operate to transfer or assign any interest or title to the purported assignee.

 

This
letter agreement constitutes the entire relationship of the parties hereto, and any litigation between the parties (whether grounded
in contract, tort, statute, law or equity) 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 law principles.

 

[Signature
Page Follows]

 

    	 		 

     

    

 

	 	Very truly yours,
	 	 
	 	gROWTH CAPITAL Acquisition
    Corp.
	 	 	 
	 	By:	/s/ George Syllantavos
	 	 	Name:	 George Syllantavos
	 	 	Title:	 Co-Chief Executive Officer  

 

AGREED TO AND ACCEPTED BY:

 

GROWTH CAPITAL SPONSOR LLC

 

	By: 	/s/ Clifford Teller        	 
	 	Name: Clifford Teller	 
	 	Title:   Director   	 

 

[Signature
Page to Administrative Support Agreement]

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