EXHIBIT 10.2
New Iceland Arctic Acquisition Corp.
NEW ICELAND ARCTIC ACQUISITION CORP.
c/o Walkers Corporate Limited
190 Elgin Avenue
George Town, Grand Cayman KY1-9008
Cayman Islands
June 24, 2026
New Iceland Arctic Acquisition Sponsor LLC
1300 Jackson Street, Suite 100
Golden, CO 80401
| RE: | Securities Subscription Agreement |
Ladies and Gentlemen:
New Iceland Arctic Acquisition Corp., a Cayman Islands exempted company (the “Company”), is pleased to accept the offer New Iceland Arctic Acquisition Sponsor LLC, a Cayman Islands limited liability company (the “Subscriber” or “you”), has made to subscribe for 3,593,750 Class B ordinary shares of the Company, $0.0001 par value per share (“Class B Ordinary Shares”, or each a “Share” and together, the “Shares”), up to 468,750 of which are subject to forfeiture by you if the underwriters of the Company’s initial public offering (“IPO”) of units (“Units”) do not fully exercise their over-allotment option (the “**Over-allotment
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