SEC Contract Filing

Filing Date: 2021-03-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>5
<FILENAME>tm218696d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PRIVATE PLACEMENT WARRANT PURCHASE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">THIS PRIVATE PLACEMENT
WARRANT PURCHASE AGREEMENT, dated as of March 3, 2021 (as it may from time to time be amended, this &ldquo;<B>Agreement</B>&rdquo;),
is entered into by and between Atlantic Coastal Acquisition Corp., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;) and
Atlantic Coastal Acquisition Management LLC, a Delaware limited liability company (the &ldquo;<B>Purchaser</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">WHEREAS:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Company intends to
consummate an initial public offering of the Company&rsquo;s units (the &ldquo;<B>Public Offering</B>&rdquo;), each unit consisting
of one share of Class A common stock of the Company, par value $0.0001 per share (each, a &ldquo;<B>Share</B>&rdquo;), and one-third
of one redeemable warrant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Each whole warrant entitles
the holder to purchase one Share at an exercise price of $11.50 per Share, as set forth in the Company&rsquo;s Registration Statement
on Form S-1, filed with the U.S. Securities and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;), File Number 333-253003 (the
 &ldquo;<B>Registration Statement</B>&rdquo;), under the Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;);
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Purchaser has agreed
to purchase, at a price of $1.50 per warrant, an aggregate of 5,466,667 warrants (or up to 6,066,667 warrants to the extent the
underwriters&rsquo; over-allotment option is exercised) (the &ldquo;<B>Private Placement Warrants</B>&rdquo;), each Private Placement
Warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>AGREEMENT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section 1. Authorization, Purchase and Sale; Terms of the
Private Placement Warrants.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in">A. <U>Authorization
of the Private Placement Warrants</U>. The Company has duly authorized the issuance and sale of the Private Placement Warrants
to the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in">B. <U>Purchase
and Sale of the Private Placement Warrants</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in">(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 &ldquo;<B>Initial Closing Date</B>&rdquo;), the Company shall issue and sell to the Purchaser, and the Purchaser shall
purchase from the Company, an aggregate of 5,466,667 Private Placement Warrants at a price of $1.50 per warrant for an aggregate
purchase price of $8,200,000 (the &ldquo;<B>Purchase Price</B>&rdquo;). Purchaser shall pay the Purchase Price by wire transfer
of immediately available funds to the trust account (the &ldquo;<B>Trust Account</B>&rdquo;) maintained by Continental Stock Transfer
 &amp; Trust Company. acting as trustee (&ldquo;<B>Continental</B>&rdquo;), at least one (1) business day prior to the date of effectiveness
(the &ldquo;<B>Effective Date</B>&rdquo;) of