SEC Contract Filing

Filing Date: 2021-08-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>10
<FILENAME>ea145765ex10-5_abri1.htm
<DESCRIPTION>PRIVATE PLACEMENT UNITS PURCHASE AGREEMENT, DATED AUGUST 9, 2021, BY AND BETWEEN THE COMPANY AND THE SPONSOR
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.5</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: center"><FONT STYLE="text-transform: uppercase"><B>PRIVATE
PLACEMENT UNIT SUBSCRIPTION AGREEMENT</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This PRIVATE PLACEMENT UNIT
SUBSCRIPTION AGREEMENT (this &ldquo;Agreement&rdquo;) is made as of the 9th day of August 2021, by and between Abri SPAC I, Inc., a Delaware
corporation (the &ldquo;Company&rdquo;), and Abri Ventures I , LLC, a Delaware limited liability company (the &ldquo;Subscriber&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company desires
to sell to the Subscriber on a private placement basis (the &ldquo;Offering&rdquo;) an aggregate of 276,250 units (or up to 295,000 units
if the over-allotment option in connection with the IPO (as defined below) is exercised in full) (the &ldquo;Units&rdquo;) of the Company,
each Unit comprised of one share of common stock of the Company, par value $0.0001 per share (&ldquo;Common Stock&rdquo;) and one warrant,
each warrant exercisable to purchase one share of Common Stock (&ldquo;Warrant&rdquo;), for a purchase price of $10.00 per Unit. The shares
of Common Stock underlying the Warrants are hereinafter referred to as the &ldquo;Warrant Shares&rdquo;. The shares of Common Stock underlying
the Units (excluding the Warrant Shares) are hereinafter referred to as the &ldquo;Placement Shares.&rdquo; The Warrants underlying the
Units are hereinafter referred to as the &ldquo;Placement Warrants<I>.</I>&rdquo; The Units, Placement Shares, Placement Warrants and
Warrant Shares, collectively, are hereinafter referred to as the &ldquo;Securities.&rdquo; Each Placement Warrant is exercisable to purchase
one share of Common Stock at an exercise price of $11.50 during the period commencing on the later of (i) twelve (12) months from the
date of the closing of the Company&rsquo;s initial public offering of units (the &ldquo;IPO&rdquo;) and (ii) the consummation of the Company&rsquo;s
initial business combination (the &ldquo;Business Combination&rdquo;), as such term is defined in the registration statement in connection
with the IPO, as amended at the time it becomes effective (the &ldquo;Registration Statement&rdquo;), and expiring on the fifth anniversary
of the consummation of the Business Combination; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Subscriber wishes
to purchase 276,250 Units (or up to 295,000 Units if the over-allotment option in connection with the IPO is exercised in full), and the
Company wishes to accept such subscription from Subscriber.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and Subscriber hereby agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. <I>Agreement to Subscribe</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">1.1. <U>Purchase
and Issuance of the Units</U>. Upon the terms and subject to the conditions of this Agreement, the Subscriber hereby agrees to purchase
from the Company, and the Company hereby agrees to sell to the Subscriber, on the Initial Closing Date (as defined below) 276,250 Units
in consideration of the payment of the Purchase Price (as defined below). On the Initial Closing Date, the Company shall, at its option,
deliver to the Subscriber the certificates representing the Securities purchased or effect such delivery in book-entry form.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">1.2. <U>Purchase
Price</U>. The Subscriber shall pay $2,762,500 (the &ldquo;Purchase Price&rdquo;) by wire transfer of immediately available funds or by
such other method as may be reasonably acceptable to the Company, to the trust account (the <I>&ldquo;</I>Trust Account<I>&rdquo;</I>)
at a financial institution to be chosen by the Company, maintained by Continental Stock Transfer &amp; Trust Company, acting as trustee,
at least one (1) business day prior to the date of effectiveness of the Reg