SEC Contract Filing

Filing Date: 2022-03-18

Document Content:
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<TYPE>EX-10.5
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<FILENAME>d336930dex105.htm
<DESCRIPTION>EX-10.5
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.5 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PURCHASE AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THIS PURCHASE AGREEMENT</B> (the &#147;<U>Agreement</U>&#148;), dated as of March&nbsp;17, 2022 by and among <B>BROOKLINE CAPITAL
ACQUISITION CORP.</B>, a Delaware corporation (the &#147;<U>Company</U>&#148;), <B>APEXIGEN, INC.</B>, a Delaware corporation (&#147;<U>Apexigen</U>&#148;) and <B>LINCOLN PARK CAPITAL FUND</B>,<B> LLC</B>, an Illinois limited liability company (the
&#147;<U>Investor</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WHEREAS: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to that certain Business Combination Agreement by and among the Company, Apexigen, and BCAC Merger Sub Inc., a wholly owned
subsidiary of the Company (&#147;<U>Merger Sub</U>&#148;) dated as of March&nbsp;17, 2022, the Company and Apexigen intend to effect a merger of Merger Sub with and into Apexigen (the &#147;<U>Merger</U>&#148;) and, upon consummation of the Merger,
Merger Sub will cease to exist and Apexigen will become a wholly owned subsidiary of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">From and after the Merger, and subject
to the terms and conditions set forth in this Agreement, the Company wishes to sell to the Investor, and the Investor wishes to purchase from the Company, up to Fifty Million Dollars ($50,000,000) of the Company&#146;s common stock, par value
$0.0001 per share (the &#147;<U>Common Stock</U>&#148;). The shares of Common Stock to be purchased hereunder are referred to herein as the &#147;<U>Purchase Shares</U>.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the Company, Apexigen, and the Investor hereby agree as follows: </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>CERTAIN DEFINITIONS. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this Agreement, the following terms shall have the following meanings: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) &#147;<U>Accelerated Purchase Date</U>&#148; means, with respect to any Accelerated Purchase made pursuant to
<U>Section</U><U></U><U>&nbsp;2(b)</U> hereof, the Business Day immediately following the applicable Purchase Date with respect to the corresponding Regular Purchase referred to in <U>Section</U><U></U><U>&nbsp;2(b)</U> hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) &#147;<U>Accelerated Purchase Minimum Price Threshold</U>&#148; means, with respect to any Accelerated Purchase made pursuant to
<U>Section</U><U></U><U>&nbsp;2(b)</U> hereof, any minimum per share price threshold set forth in the applicable Accelerated Purchase Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) &#147;<U>Accelerated Purchase Notice</U>&#148; means, with respect to any Accelerated Purchase made pursuant to
<U>Section</U><U></U><U>&nbsp;2(b)</U> hereof, an irrevocable written notice from the Company to the Investor directing the Investor to purchase a specified Accelerated Purchase Share Amount on the applicable Accelerated Purchase Date pursuant to
<U>Section</U><U></U><U>&nbsp;2(b)</U> hereof at the applicable Accelerated Purchase Price. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) &#147;<U>Accelerated Purchase
Price</U>&#148; means, with respect to any particular Accelerated Purchase made pursuant to<U> Section</U><U></U><U>&nbsp;2(b)</U> hereof, ninety-five percent (95%) of the lower of (i)&nbsp;the VWAP for the period beginning at 9:30:01 a.m., Eastern
time, on the applicable Accelerated Purchase Date, or such other time publicly announced by the Principal Market as the official open (or commencement) of trading on the Principal Market on such applicable Accelerated Purchase Date (the
&#147;<U>Accelerated Purchase Commencement Time</U>&#148;), and ending at the earliest of (A) 4:00:00 p.m., Eastern time, on such applicable Accelerated Purchase Date, or such other time publicly announced by Principal Market as the official close
of trading on the Principal Market on such applicable Accelerated Purchase Date, (B)&nbsp;such time, from and after the Accelerated Purchase Commencement Time for such Accelerated Purchase, that the total number </P>
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