Document:

Exhibit
10.6

 

SUBSCRIPTION
AGREEMENT

(Agreement for Private Placement of Units)

 

Alberton
Acquisition Corporation

Room 1001, 10/F, Capital Center

151 Gloucester Road

Wanchai, Hong Kong

 

Date:
_______, 2018

Alberton
Acquisition Corporation (the “Company”) is a British Virgin Island corporation formed as a special purpose acquisition
company (a “SPAC”) to acquire one or more businesses or entities (a “Business Combination”).

 

The
Company intends to engage in an initial public offering (“IPO”) of 10,000,000 units (or 11,500,000 units if the over-allotment
option is exercised in full), each unit (the “Units”) consisting of one ordinary share of the Company, no par value
(the “Ordinary Shares”) and one right to receive one-tenth (1/10) of one Ordinary Share (the “Rights”),
at $10.00 per unit, for the gross proceeds of $100,000,000 (or $115,000,000 if the over-allotment option is exercised in full),
in accordance with U.S. federal and state securities laws. Chardan Capital Markets LLC (“Chardan”) is acting as the
representative of the several underwriters in the IPO. The Company intends to register its securities with the U.S. Securities
and Exchange Commission (“SEC”) under the Securities Act of 1933, as amended (“Securities Act”), in connection
with its IPO, pursuant to a registration statement on Form S-1 (“Registration Statement”). The Company has applied
to have its securities listed on the NASDAQ Capital Market.

 

The
undersigned hereby commits that it will purchase 300,000 Units of the Company (“Private Units”) at $10.00 per Private
Unit, for an aggregate purchase price of $3,000,000 (the “Private Unit Purchase Price”), in a private placement that
will occur simultaneously with the consummation of the IPO.

 

The
undersigned hereby agrees that it will purchase an additional amount of units of the Company (“Over-Allotment Units”),
up to a maximum of 30,000 Over-Allotment Units, or a maximum purchase price of $300,000 (“Over-Allotment Unit Purchase Price”,
together with the Private Unit Purchase Price, the “Purchase Price”), if Chardan exercises its over-allotment option,
such that the amount held in the trust account (as described in the Registration Statement) does not fall below $10.00 per share
for each Ordinary Share sold in the IPO.

 

At
least twenty-four (24) hours prior to the road show relating to the IPO, the undersigned will cause the Purchase Price to be delivered
to White and Williams LLP (“WW”), counsel for the Company, by wire transfer as set forth in the instructions attached
as Exhibit A to hold in escrow in a non-interest bearing bank 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 consummation of
the purchase of units resulting from the exercise of the over-allotment option related to the IPO. Simultaneously with the consummation
of the IPO, WW 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 agreement, the Purchase Price (without
interest or deduction) will be returned to the undersigned.

 

     

     

    

 

Each
of the Company and the undersigned acknowledges and agrees that WW is serving hereunder solely as a convenience to the parties
to facilitate the purchase of the Private Units and WW’s sole obligation under this agreement is to act with respect to
holding and disbursing the Purchase Price for the Private Units as described above. WW shall not be liable to the Company, Chardan
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 WW has acted in a manner constituting gross negligence or willful misconduct. The
Company and the undersigned shall indemnify WW against any claim made against it (including reasonable attorney’s fees)
by reason of it acting or failing to act in connection with this agreement except as a result of its gross negligence or willful
misconduct. WW 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
                                         months from the closing of the IPO (or up to 18 months, as applicable), 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 to the extent 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, or to tender the Private
                                         Units and Over-Allotment Units in connection with a tender offer conducted prior to the
                                         closing of a Business Combination;

 

    	 	-2-	 

     

    

 

		●	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 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 (vii) to the Company for cancellation in connection with the consummation of a Business
                                         Combination, in each case (except for clause vii) 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 offerings of SPACs 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 acquire 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;

 

    	 	-3-	 

     

    

 

		(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 agreement and
                                         any documents contemplated herein or needed to consummate the transactions contemplated
                                         in this agreement; and

 

		(h)	this
                                         agreement constitutes its legal, valid and binding obligation, and is enforceable against
                                         it.

 

With
respect to the Private Units purchased by any member of FINRA, the holder of such Private Units agrees that, in accordance with
FINRA Rule 5110(g)(1), it will not sell, transfer, assign, pledge or hypothecate in whole or in part any Private Units, Ordinary
Shares or Rights underlying the Private Units, or Ordinary Shares that are issuable pursuant to the Rights included in the Private
Units (in whole or in part) or any interest herein, or subject any such securities to any hedging, short sale, derivative or put
or call transaction that would result in the economic disposition of such securities, for a lock-up period of 180 days following
the effective date of the Registration Statement or the commencement of sales in the IPO to anyone other than (i) an underwriter
or a selected dealer participating in the Offering IPO or (ii) any successor, officer or partner of any such underwriter or selected
dealer. Additionally, certain registration rights have been provided with respect to the Private Units purchased by other holders,
which registration rights will at all times be in compliance with FINRA Rule 5110(f)(2)(G)(iii)-(v).

 

This
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.

 

[Signature
page follows.]

 

    	 	-4-	 

     

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	COMPANY:

                                                                      
	 
	Alberton
    Acquisition Corporation	 
	 	 
	 	 
	Name:
    Bin (Ben) Wang	 
	Title:
    Chief Executive Officer	 
	 	 
	SUBSCRIBER:

                                                          
	 
	Hong
    Ye Hong Kong Shareholding Co., Limited	 
	 	 
	 	 
	Name:
    Guan Wang	 
	Title:
    Sole Shareholder and Sole Director	 
	 	 

 

    	 	-5-	 

     

    

 

Exhibit
A

 

Wire
Instructions

 

Omitted

 

    	 	-6-Exhibit 10.7

 

ALBERTON
ACQUISITION CORPORATION

Room
1001, 10/F, Capital Center

151
Gloucester Road

Wanchai,
Hong Kong

 

____________,
2018

 

Hong
Ye Hong Kong Shareholding Co., Limited

Room
1001, 10/F, Capital Center

151
Gloucester Road

Wanchai,
Hong Kong

 

Re:Administrative
Services Agreement

 

Ladies
and Gentlemen:

 

This letter agreement
(this “Agreement”) by and between Alberton Acquisition Corporation (the “Company”) and Hong Ye Hong Kong
Shareholding Co., Limited (the “Sponsor”), dated as of the date hereof, will memorialize and confirm our agreement
that, commencing on August 1, 2018 (the “Effective Date”) and continuing until the earlier of the consummation by
the Company of the initial business combination or the Company’s liquidation (in each case as described in the Registration
Statement on Form S-1 (No. _______) filed by the Company with the U.S. Securities and Exchange Commission) (such earlier date
hereinafter referred to as the “Termination Date”):

 

(1)
The Sponsor shall make available to the Company, at Room 1001, 10/F, Capital Center, 151 Gloucester Road, Wanchai, Hong Kong
(or any successor location of the Sponsor), certain office space, secretarial support and administrative services as may be
reasonably required by the Company. In exchange therefor, the Company shall pay the Sponsor the sum of $1,000 per month
commencing on the Effective Date and continuing monthly thereafter until the Termination Date; and

 

(2)
The Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind (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”), and hereby irrevocably waives
any Claim it may have in the future as a result of, or arising out of, this Agreement, 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
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
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 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
Agreement, 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,
	 	 	 
	 	ALBERTON
                                         ACQUISITION CORPORATION
	 	 	 
	 	By:	             
	 	Name:	 
	 	Title:	 

 

	AGREED
AND ACCEPTED BY:	 
	 	 	 
	HONG
YE HONG KONG SHAREHOLDING CO., LIMITED	 
	 	 	 
	By:	             	 
	Name:	 	 
	Title:	 	 

 

[Signature
Page to Administrative Services Agreement]

 

    	 	-2-

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