SEC Filing Document

Company: Ambitious Entertainment, Inc.
Ticker: 
CIK: 1900851
Filing Type: S-1
Document Type: EX-10.11
Date Filed: 2026-05-15
Accession Number: 0001493152-26-023581
Exchange: 
SIC Code: 7812
SIC Description: Services-Motion Picture & Video Tape Production
URL: https://www.sec.gov/Archives/edgar/data/1900851/000149315226023581/ex10-11.htm

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Purchaser agrees to purchase, and the Company agrees to sell and issue to such Purchaser, at the Closing (as defined below) the number of Units set forth opposite such Purchaser’s name on the signature page hereto. The aggregate number of Units to be sold to all Purchasers at the Closing shall be up to 69 Units, for an aggregate purchase price payable by all Purchasers not to exceed $2,208,000. There is no minimum number of Units or minimum aggregate Subscription Amount required as a condition to any Closing, and the Company may consummate the transactions contemplated hereby with one or more Purchasers from time to time (including in one or more Closings) without waiting for the sale of all Units. The Series A Shares and the shares of Common Stock issued or issuable upon conversion thereof, the Warrants, and the Warrant Shares are referred to herein collectively as the “Securities.”

Closing. The purchase and sale of the Securities shall take place remotely via the exchange of documents and signatures, 12:00
p.m., on April __, 2026 (provided that, with respect to any Purchaser, the Closing may occur on a different date agreed in writing between
the Company and such Purchaser, and the Company may conduct one or more subsequent closings with other Purchasers without any minimum
aggregate subscription condition), or at such other time and place as the Company and the Purchasers mutually agree upon, orally
or in writing (which time and place are designated as the “Closing”).

Deliveries.

On or prior to the Closing, the Company shall deliver or cause to be delivered to each Purchaser the following:

This Agreement, duly executed by the Company;

The Warrants, duly executed by the Company;

(iii)
The Series A Shares, issued in book-entry form, duly credited to each Purchaser’s account at the Company’s transfer agent,
free and clear of all liens and encumbrances, other than applicable securities law restrictions;

On or prior to the Closing, each Purchaser shall deliver or cause to be delivered the following:

To the Company, this Agreement, duly executed by such Purchaser;

To the Company, such Purchaser’s Subscription Amount, by wire transfer of immediately available funds in accordance with the wire
instructions provided by the Company (which funds shall be wired directly to the Company, and not to any escrow or holdback account,
and shall be available for immediate use by the Company upon receipt) and

(iii)
To the Company, such other information, certificates, or documents reasonably requested to consummate the transactions contemplated by
this Agreement.

Closing Conditions.

The obligations of the Company hereunder in connection with each applicable Closing are subject to the following conditions being met:

the accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse
Effect, in all respects) on the applicable Closing Date of the representations and warranties of each Purchaser contained herein (unless
as of a specific date therein in which case they shall be accurate as of such date);

all obligations, covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have been
performed in all material respects; and

(iii)
the delivery by each Purchaser of the items set forth in Section 2.3(b) of this Agreement.

The respective obligations of the Purchasers hereunder in connection with the Closing are subject to the following conditions being met:

the accuracy in all respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect,
in all respects) when made and on the Closing Date of the representations and warranties of the Company contained herein (unless as of
a specific date therein in which case they shall be accurate as of such date);

all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed;

(iii)
Solely with respect to the Closing, the delivery by the Company of the items set forth in Section 2.3(a) of this Agreement;

there shall have been no Material Adverse Effect with respect to the Company since the date hereof;

from the date hereof to the Closing Date trading in the Common Stock shall not have been suspended by the SEC or the Company’s
Principal Market, and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg L.P. shall not
have been suspended or limited, or minimum prices shall not have been established on securities whose trades are reported by such service,
or on any Principal Market, nor shall a banking moratorium have been declared either by the United States or New York State authorities
nor shall there have occurred any material outbreak or escalation of hostilities or other national or international calamity of such
magnitude in its effect on, or any material adverse change in, any financial market which, in each case, in the reasonable judgment of
such Purchaser, makes it impracticable or inadvisable to purchase the Securities at the Closing.

ARTICLE

REPRESENTATIONS
AND WARRANTIES

Representations and Warranties of the Company. The Company hereby represents and warrants to each Purchaser that the following
representations in this Section 3.1 are true and complete as of the date of the Closing, except as otherwise indicated.

Subsidiaries. The Company owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary
free and clear of any Liens, and all of the issued and outstanding shares of capital stock of each Subsidiary are validly issued and
are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities. If the Company has
no subsidiaries, all other references to the Subsidiaries or any of them in the Transaction Documents shall be disregarded.

Organization and Qualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized,
validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power
and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any
Subsidiary is in violation nor default of any of the provisions of its respective Charter, bylaws or other organizational or charter
documents. Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation
or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary,
except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected to result
in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect
on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries,
taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis
its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”) and no Proceeding
has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority
or qualification.

Authorization; Enforcement. The Company has the requisite power and authority to enter into and to consummate the transactions
contemplated by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder.
The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by it of
the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no
further action is required by the Company, the Board of Directors or the Company’s stockholders in connection herewith or therewith
other than in connection with the Required Approvals. Subject to obtaining the Required Approvals, this Agreement and each other Transaction
Document to which it is a party has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance
with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in
accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of creditors ‘rights generally, (ii) as limited by laws
relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification
and contribution provisions may be limited by applicable law.