Exhibit 4.6


 


THE
REGISTERED HOLDER OF THIS PURCHASE OPTION BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE
OPTION EXCEPT AS HEREIN PROVIDED, AND THE REGISTERED HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN,
PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION FOR A PERIOD OF ONE HUNDRED AND EIGHTY (180) DAYS FOLLOWING THE EFFECTIVE DATE (DEFINED
BELOW) TO ANYONE OTHER THAN (I) EARLYBIRDCAPITAL, INC. (“EBC”) OR AN UNDERWRITER OR SELECTED DEALER
IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF EBC OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER,
EXCEPT IN ACCORDANCE WITH FINRA RULE 5110(G)(2). ADDITIONALLY, PURSUANT TO FINRA CONDUCT RULE 5110(G), THE PURCHASE OPTION (OR
THE ORDINARY SHARES AND WARRANTS UNDERLYING THIS PURCHASE OPTION) WILL NOT BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE,
PUT OR CALL TRANSACTION THAT WOULD RESULT IN THE ECONOMIC DISPOSITION OF THE SECURITIES BY ANY PERSON FOR A PERIOD OF 180 DAYS
IMMEDIATELY FOLLOWING THE EFFECTIVE DATE.


 


THIS
PURCHASE OPTION IS NOT EXERCISABLE PRIOR TO THE LATER OF THE CONSUMMATION BY BISON CAPITAL ACQUISITION CORP. (“COMPANY”)
OF A MERGER, SHARE EXCHANGE, ASSET ACQUISITION, SHARE PURCHASE, RECAPITALIZATION, REORGANIZATION OR OTHER SIMILAR BUSINESS COMBINATION
WITH ONE OR MORE BUSINESSES OR ENTITIES (“BUSINESS COMBINATION”) (AS DESCRIBED MORE FULLY IN THE COMPANY’S
REGISTRATION STATEMENT (DEFINED HEREIN)) AND [●][●], 2018 AND IS VOID AFTER 5:00 P.M. NEW YORK CITY LOCAL TIME, ON
THE EXPIRATION DATE (DEFINED HEREIN).


 


UNIT
PURCHASE OPTION


 


FOR
THE PURCHASE OF


 


150,000
UNITS


 


OF


 


BISON
CAPITAL ACQUISITION CORP.


 


1.            Purchase
Option.


 


THIS
CERTIFIES THAT, in consideration of $100.00 duly paid by or on behalf of EarlyBirdCapital, Inc., as registered owner (the “Holder”)
of this purchase option (this “Purchase Option”), to Bison Capital Acquisition Corp. (the “Company”),
the Holder is entitled, at any time or from time to time from the later of the consummation by the Company of a merger, share
exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or
more businesses or entities (“Business Combination”) or [●] [●], 2018 (the “Commencement
Date”), until 5:00 p.m., New York City local time, on the five year anniversary of the effective date (the “Effective
Date”) of the Company’s registration statement (the “Registration Statement”) pursuant
to which units are offered for sale to the public (the “Offering”), but not thereafter (the “Expiration
Date”), to subscribe for, purchase and receive, in whole or in part, up to 150,000 units (“Unit(s)”)
of the Company, each Unit consisting of one ordinary share of the Company, no par value (“Ordinary Shares”),
one right entitling the Holder to receive one tenth (1/10) of an Ordinary Share upon consummation of a Business Combination, and
one-half of one warrant (“Warrant(s)”) each whole Warrant to purchase one Ordinary Share. Each Right
is the same as the right included in the units being registered for sale to the public by way of the Registration Statement (the
Right(s)”). Each Warrant is the same as the warrant included in the Units being registered for sale to the
public by way of the Registration Statement (“Public Warrants”). If the Expiration Date is a day on
which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day
which is not such a day in accordance with the terms herein. Notwithstanding anything to the contrary, neither this Purchase Option
nor the Warrants underlying this Purchase Option may be exercisable after the five year anniversary of the Effective Date. During
the period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option.
This Purchase Option is initially exercisable at $10.00 per Unit so purchased; provided, however, that upon the occurrence of
any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price per
Unit and the number of Units (and Ordinary Shares, Rights and Warrants) to be received upon such exercise, shall be adjusted as
therein specified. The term “Exercise Price” shall mean the initial exercise price or the adjusted exercise
price, depending on the context.


 






    	 	1	 



     


    

 


2.            Exercise.


 


2.1.         Exercise
Form. In order to exercise this Purchase Option, the exercise form attached hereto must be duly executed and completed and
delivered to the Company, together with this Purchase Option and payment of the Exercise Price for the Units being purchased payable
in cash or by certified check or official bank check. If the subscription rights represented hereby shall not be exercised at
or before 5:00 p.m., New York City local time, on the Expiration Date, this Purchase Option shall become and be void without further
force or effect, and all rights represented hereby shall cease and expire.


 


2.2.         Legend.
Each certificate for the securities purchased under this Purchase Option shall bear a legend substantially as follows and appropriate
“stop transfer” instructions unless counsel to the Company advises otherwise such securities have been registered
under the Securities Act of 1933, as amended (“Act”):


 


“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR
OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN EXEMPTION
FROM REGISTRATION THEREUNDER, IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OR OTHER JURISDICTIONS.”


 


2.3.         Cashless
Exercise.


 


2.3.1.       Determination
of Amount. In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase Option is
exercisable (and in lieu of being entitled to receive Ordinary Shares and Warrants) in the manner required by Section 2.1, and
subject to Section 6.1 hereof, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised
portion of this Purchase Option into Units (the “Cashless Exercise Right”) as follows: upon exercise
of the Cashless Exercise Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise
Price in cash) that number of Units (or that number of Ordinary Shares, Rights and Warrants comprising that number of Units) equal
to the number of Units to be exercised multiplied by the quotient obtained by dividing (x) the “Value” (as defined
below) of the portion of the Purchase Option being converted by (y) the Current Market Value (as defined below). The “Value”
of the portion of the Purchase Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise
Price multiplied by (ii) the number of Units underlying the portion of this Purchase Option being converted from (b) the Current
Market Value of a Unit multiplied by the number of Units underlying the portion of the Purchase Option being converted. As used
herein, the term “Current Market Value” per Unit at any date means: (A) in the event that the Units, Ordinary Shares
and Public Warrants are still trading, (i) if the Units are listed on a national securities exchange or quoted on the OTC Bulletin
Board (or successor exchange), the average reported last sale price of the Units in the principal trading market for the Units
as reported by the exchange, Nasdaq or the Financial Industry Regulatory Authority (“FINRA”), as the
case may be, for the three trading days preceding the date in question; or (ii) if the Units are not listed on a national securities
exchange or quoted on the OTC Bulletin Board (or successor exchange), but is traded in the residual over-the-counter market, the
average reported last sale price for Units for the three trading days preceding the date in question for which such quotations
are reported by the Pink Sheets, LLC or similar publisher of such quotations; (B) in the event that the Units are not still trading
but the Ordinary Share and Public Warrants underlying the Units are still trading, the aggregate of (i) the product of (x) the
Current Market Price of the Ordinary Share and (y) the number of the Ordinary Shares underlying one Unit (which shall include
the portion of an Ordinary Share the holder of a Unit would automatically receive in connection with the Right included in each
such Unit) plus (ii) the product of (x) the Current Market Price of the Public Warrants and (y) the number of the Warrants included
in one Unit; or (C) in the event that neither the Units nor Public Warrants are still trading, the aggregate of (i) the product
of (x) the Current Market Price of the Ordinary Share and (y) the number of the Ordinary Shares underlying one Unit (which shall
include the portion of an Ordinary Share the holder of a Unit would automatically receive in connection with the Right included
in each such Unit) plus (ii) the remainder derived from subtracting (x) the exercise price of the Warrants multiplied by the number
of Ordinary Shares issuable upon exercise of the Warrants underlying one Unit from (y) the product of (aa) the Current Market
Price of the Ordinary Shares multiplied by (bb) the number of Ordinary Shares underlying the Warrants included in each such Unit.
The “Current Market Price” shall mean (i) if the Ordinary Shares (or Public Warrants, as the case may
be) are listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange), the average reported
last sale price of the Ordinary Shares (or Public Warrants) in the principal trading market for the Ordinary Share (or Public
Warrants) as reported by the exchange, Nasdaq or FINRA, as the case may be, for the three trading days preceding the date in question;
(ii) if the Ordinary Shares (or Public Warrants, as the case may be) are not listed on a national securities exchange or quoted
on the OTC Bulletin Board (or successor exchange), but are traded in the residual over-the-counter market, the average reported
last sale price for the Ordinary Share (or Public Warrants) on for the three trading days preceding the date in question for which
such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the fair market value
of the Ordinary Share cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the Company
shall determine, in good faith. In the event the Public Warrants have expired and are no longer exercisable, no “Value”
shall be attributed to the Warrants underlying this Purchase Option.


 






    	 	2	 



     


    

 


2.3.2.       Mechanics
of Cashless Exercise. The Cashless Exercise Right may be exercised by the Holder on any business day on or after the Commencement
Date and not later than the Expiration Date by delivering the Purchase Option with the duly executed exercise form attached hereto
with the cashless exercise section completed to the Company, exercising the Cashless Exercise Right and specifying the total number
of Units the Holder will purchase pursuant to such Cashless Exercise Right.


 


2.4.         No
Obligation to Net Cash Settle. Notwithstanding anything to the contrary contained in this Purchase Option, in no event will
the Company be required to net cash settle the exercise of the Purchase Option or the Rights or Warrants underlying the Purchase
Option. The holder of the Purchase Option and the Warrants underlying the Purchase Option will not be entitled to exercise the
Purchase Option or the Warrants underlying such Purchase Option unless it exercises such Purchase Option pursuant to the Cashless
Exercise Right or a registration statement is effective, or an exemption from the registration requirements is available at such
time and, if the holder is not able to exercise the Purchase Option or underlying Warrants, the Purchase Option and/or the underlying
Warrants, as applicable, will expire worthless. For the avoidance of doubt, the holder of the Purchase Option and the Warrants
may not utilize the Cashless Exercise Right if the Exercise Price of a Unit is more than the average reported last sale price
for a Unit or Ordinary Share for the three trading days preceding the exercise.


 


3.            Transfer.


 


3.1.         General
Restrictions. The Holder, by its acceptance of this Purchase Option, agrees that it will not sell, transfer, assign, pledge
or hypothecate this Purchase Option (or the Ordinary Shares, Rights and Warrants underlying this Purchase Option) for a period
of 180 days pursuant to FINRA Conduct Rule 5110(g)(1) following the Effective Date to anyone other than (i) the Holder or an underwriter
or selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Holder or of any such underwriter
or selected dealer. Additionally, pursuant to FINRA Conduct Rule 5110(g), the Purchase Option (or the Ordinary Shares, Rights
and Warrants underlying this Purchase Option) will not be the subject of any hedging, short sale, derivative, put or call transaction
that would result in the economic disposition of the securities by any person for a period of 180 days immediately following the
Effective Date. On and after the 181st day following the Effective Date, transfers to others may be made subject to
compliance with or exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver
to the Company the assignment form attached hereto duly executed and completed, together with the Purchase Option and payment
of all transfer taxes, if any, payable in connection therewith. The Company shall within five business days transfer this Purchase
Option on the books of the Company and shall execute and deliver a new Purchase Option or Purchase Options of like tenor to the
appropriate assignee(s) expressly evidencing the right to purchase the aggregate number of Units purchasable hereunder or such
portion of such number as shall be contemplated by any such assignment.


 






    	 	3	 



     


    

 


3.2.         Restrictions
Imposed by the Act. The securities evidenced by this Purchase Option shall not be transferred unless and until (i) the Company
has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption from registration
under the Act and applicable state securities laws, the availability of which is established to the reasonable satisfaction of
the Company (the Company hereby agreeing that the opinion of Graubard Miller shall be deemed satisfactory evidence of the availability
of an exemption), or (ii) a registration statement or a post-effective amendment to the Registration Statement relating to such
securities has been filed by the Company and declared effective by the Securities and Exchange Commission (the “Commission”)
and compliance with applicable state securities law has been established.


 


4.            New
Purchase Option to be Issued.


 


4.1.         Partial
Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Option may be exercised or assigned in
whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Option for cancellation,
together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price (except to the extent
that the Holder elects to exercise this Purchase Option by means of a cashless exercise as provided in Section 2.3 above) and/or
transfer tax, the Company shall cause to be delivered to the Holder without charge a new Purchase Option of like tenor to this
Purchase Option in the name of the Holder evidencing the right of the Holder to purchase the number of Units purchasable hereunder
as to which this Purchase Option has not been exercised or assigned.


 


4.2.         Lost
Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this
Purchase Option and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver
a new Purchase Option of like tenor and date. Any such new Purchase Option executed and delivered as a result of such loss, theft,
mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company.


 


5.            Registration
Rights.


 


5.1.         Demand
Registration.


 


5.1.1.       Grant
of Right. The Company, upon written demand (the “Initial Demand Notice”) of the Holder(s) of at
least 51% of the Purchase Option and/or the underlying Units and/or the underlying securities (“Majority Holders”),
agrees to use commercially reasonable efforts to register (the “Demand Registration”) under the Act
on one occasion, all or any portion of the Purchase Option requested by the Majority Holders in the Initial Demand Notice and
all of the securities underlying such Purchase Option, including the Units, Ordinary Shares, the Warrants and the Ordinary Shares
underlying the Warrants (collectively, the “Registrable Securities”). On such occasion, the Company
will use commercially reasonable efforts to file a registration statement or a post-effective amendment to the Registration Statement
covering the Registrable Securities as expeditiously as possible after receipt of the Initial Demand Notice and use commercially
reasonable efforts to have such registration statement or post-effective amendment declared effective as soon as possible thereafter.
The demand for registration may be made at any time during a period of four and one-half years beginning 180 days after the Effective
Date. The Initial Demand Notice shall specify the number of shares of Registrable Securities proposed to be sold and the intended
method(s) of distribution thereof. The Company will notify all holders of the Purchase Option and/or Registrable Securities of
the demand within ten days from the date of the receipt of any such Initial Demand Notice. Each holder of Registrable Securities
who wishes to include all or a portion of such holder’s Registrable Securities in the Demand Registration (each such holder
including shares of Registrable Securities in such registration, a “Demanding Holder”) shall so notify
the Company within fifteen (15) days after the receipt by the holder of the notice from the Company. Upon any such request, the
Demanding Holders shall be entitled to have their Registrable Securities included in the Demand Registration, subject to Section
5.1.4. The Company shall not be obligated to effect more than one (1) Demand Registration under this Section 5.1 in respect of
all Registrable Securities.


 






    	 	4	 



     


    

 


5.1.2.       Effective
Registration. Notwithstanding Section 5.1.5, a registration will not count as a Demand Registration until the registration
statement filed with the Commission with respect to such Demand Registration has been declared effective and the Company has complied
with all of its obligations under this Purchase Option with respect thereto.


 


5.1.3.       Underwritten
Offering. If the Majority Holders so elect and such holders so advise the Company as part of the Initial Demand Notice, the
offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten offering.
In such event, the right of any holder to include its Registrable Securities in such registration shall be conditioned upon such
holder’s participation in such underwriting and the inclusion of such holder’s Registrable Securities in the underwriting
to the extent provided herein. All Demanding Holders proposing to distribute their securities through such underwriting shall
enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by
the Majority Holders.


 


5.1.4.       Reduction
of Offering. If the managing underwriter or underwriters for a Demand Registration that is to be an underwritten offering
advises the Company and the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities
which the Demanding Holders desire to sell, taken together with all other Ordinary Shares or other securities which the Company
desires to sell and the Ordinary Shares, if any, as to which registration has been requested pursuant to written contractual piggy-back
registration rights held by other shareholders of the Company who desire to sell, exceeds the maximum dollar amount or maximum
number of shares that can be sold in such offering without adversely affecting the proposed offering price, the timing, the distribution
method, or the probability of success of such offering (such maximum dollar amount or maximum number of shares, as applicable,
the “Maximum Number of Shares”), then the Company shall include in such registration: (i) first, the
Registrable Securities as to which Demand Registration has been requested by the Demanding Holders (pro rata in accordance with
the number of shares that each such Person has requested be included in such registration, regardless of the number of shares
held by each such Person (such proportion is referred to herein as “Pro Rata”)) that can be sold without
exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been reached under
the foregoing clause (i), the Ordinary Shares or other securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (i) and (ii), the Ordinary Shares or other securities registrable pursuant to the terms of the Registration Rights Agreement
between the Company and the initial investors in the Company and EBC (and/or its designees), dated as of [●], 2017 (the
“Registration Rights Agreement” and such registrable securities, the “Investor Securities”)
as to which “piggy-back” registration has been requested by the holders thereof, Pro Rata, that can be sold without
exceeding the Maximum Number of Shares; and (iv) fourth, to the extent that the Maximum Number of Shares have not been reached
under the foregoing clauses (i), (ii), and (iii), the Ordinary Shares or other securities for the account of other persons that
the Company is obligated to register pursuant to written contractual arrangements with such persons and that can be sold without
exceeding the Maximum Number of Shares.


 


5.1.5.       Withdrawal.
If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled to include
all of their Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to withdraw
from such offering by giving written notice to the Company and the underwriter or underwriters of their request to withdraw prior
to the effectiveness of the registration statement filed with the Commission with respect to such Demand Registration. If the
majority-in-interest of the Demanding Holders withdraws from a proposed offering relating to a Demand Registration, then the Company
does not have to continue its obligations under this Section 5.1, provided that, any such withdrawal will not count as the Demand
Registration if the Demanding Holders pay all of the Company’s out-of-pocket expenses of the Company with respect to such
withdrawn registration.


 


5.1.6.       Terms.
The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses of one
legal counsel, not to exceed $5,000, selected by the Holders to represent them in connection with the sale of the Registrable
Securities, but the Holders shall pay any and all underwriting commissions and transfer taxes. The Company agrees to use commercially
reasonable efforts to qualify or register the Registrable Securities in such states as are reasonably requested by the Majority
Holder(s); provided, however, that in no event shall the Company be required to register the Registrable Securities in a state
in which such registration would cause (i) the Company to be obligated to qualify to do business in such state, or would subject
the Company to taxation as a foreign corporation doing business in such jurisdiction or require the Company to be subject to service
of process in that state or (ii) the principal shareholders of the Company to be obligated to escrow their ordinary shares of
the Company. The Company shall use commercially reasonable efforts to cause any registration statement or post-effective amendment
filed pursuant to the demand rights granted under Section 5.1.1 to remain effective for a period of six consecutive months from
the effective date of such registration statement or post-effective amendment.


 






    	 	5	 



     


    

 


5.2.         Piggy-Back
Registration.


 


5.2.1.       Piggy-Back
Rights. If at any time during the seven year period commencing on the Effective Date the Company proposes to file a registration
statement under the Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable
for, or convertible into, equity securities, by the Company for its own account or for shareholders of the Company for their account
(or by the Company and by shareholders of the Company including, without limitation, pursuant to Section 5.1), other than a registration
statement (i) filed in connection with any employee share option or other benefit plan, (ii) for an exchange offer or offering
of securities solely to the Company’s existing shareholders, (iii) for an offering of debt that is convertible into equity
securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall (x) give written notice of such proposed
filing to the holders of Registrable Securities as soon as practicable but in no event less than ten (10) days before the anticipated
filing date, which notice shall describe the amount and type of securities to be included in such offering, the intended method(s)
of distribution, and the name of the proposed managing underwriter or underwriters, if any, of the offering, and (y) offer to
the holders of Registrable Securities in such notice the opportunity to register the sale of such number of shares of Registrable
Securities as such holders may request in writing within five (5) days following receipt of such notice (a “Piggy-Back
Registration”). The Company shall cause such Registrable Securities to be included in such registration and shall
use commercially reasonable efforts to cause the managing underwriter or underwriters of a proposed underwritten offering to permit
the Registrable Securities requested to be included in a Piggy-Back Registration on the same terms and conditions as any similar
securities of the Company and to permit the sale or other disposition of such Registrable Securities in accordance with the intended
method(s) of distribution thereof. All holders of Registrable Securities proposing to distribute their securities through a Piggy-Back
Registration that involves an underwriter or underwriters shall enter into an underwriting agreement in customary form with the
underwriter or underwriters selected for such Piggy-Back Registration.


 


5.2.2.       Reduction
of Offering. If the managing underwriter or underwriters for a Piggy-Back Registration that is to be an underwritten offering
advises the Company and the holders of Registrable Securities in writing that the dollar amount or number of Ordinary Shares which
the Company desires to sell, taken together with Ordinary Shares, if any, as to which registration has been demanded pursuant
to written contractual arrangements with persons other than the holders of Registrable Securities hereunder, the Registrable Securities
as to which registration has been requested under this Section 5.2, and the Ordinary Shares, if any, as to which registration
has been requested pursuant to the written contractual piggy-back registration rights of other shareholders of the Company, exceeds
the Maximum Number of Shares, then the Company shall include in any such registration:


 


(a)       If
the registration is undertaken for the Company’s account: (A) first, the Ordinary Shares or other securities that the Company
desires to sell that can be sold without exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number
of Shares has not been reached under the foregoing clause (A), the Ordinary Shares or other securities, if any, comprised of Registrable
Securities and Investor Securities, as to which registration has been requested pursuant to the applicable written contractual
piggy-back registration rights of such security holders, Pro Rata, that can be sold without exceeding the Maximum Number of Shares;
and (C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A) and (B), the
Ordinary Shares or other securities for the account of other persons that the Company is obligated to register pursuant to written
contractual piggy-back registration rights with such persons and that can be sold without exceeding the Maximum Number of Shares;


 






    	 	6	 



     


    

 


(b)       If
the registration is a “demand” registration undertaken at the demand of holders of Investor Securities, (A) first,
the Ordinary Shares or other securities for the account of the demanding persons, Pro Rata, that can be sold without exceeding
the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clause (A), the Ordinary Shares or other securities that the Company desires to sell that can be sold without exceeding the Maximum
Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses
(A) and (B), the shares of Registrable Securities , Pro Rata, as to which registration has been requested pursuant to the terms
hereof, that can be sold without exceeding the Maximum Number of Shares; and (D) fourth, to the extent that the Maximum Number
of Shares has not been reached under the foregoing clauses (A), (B) and (C), the Ordinary Shares or other securities for the account
of other persons that the Company is obligated to register pursuant to written contractual arrangements with such persons, that
can be sold without exceeding the Maximum Number of Shares; and


 


(c)       If
the registration is a “demand” registration undertaken at the demand of persons other than either the holders of Registrable
Securities or of Investor Securities, (A) first, the Ordinary Shares or other securities for the account of the demanding persons
that can be sold without exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has
not been reached under the foregoing clause (A), the Ordinary Shares or other securities that the Company desires to sell that
can be sold without exceeding the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not
been reached under the foregoing clauses (A) and (B), collectively the Ordinary Shares or other securities comprised of Registrable
Securities and Investor Securities, Pro Rata, as to which registration has been requested pursuant to the terms hereof and of
the Registration Rights Agreement, as applicable, that can be sold without exceeding the Maximum Number of Shares; and (D) fourth,
to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A), (B) and (C), the Ordinary
Shares or other securities for the account of other persons that the Company is obligated to register pursuant to written contractual
arrangements with such persons, that can be sold without exceeding the Maximum Number of Shares.


 


5.2.3.       Withdrawal.
Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable Securities
in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness
of the registration statement. The Company (whether on its own determination or as the result of a withdrawal by persons making
a demand pursuant to written contractual obligations) may withdraw a registration statement at any time prior to the effectiveness
of the registration statement.


 


5.2.4.       Terms.
The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses of one
legal counsel, not to exceed $5,000, selected by the Holders to represent them in connection with the sale of the Registrable
Securities but the Holders shall pay any and all underwriting commissions related to the Registrable Securities and all transfer
taxes. In the event of such a proposed registration, the Company shall furnish the then Holders of outstanding Registrable Securities
with not less than fifteen days written notice prior to the proposed date of filing of such registration statement. Such notice
to the Holders shall continue to be given for each applicable registration statement filed (during the period in which the Purchase
Option is exercisable) by the Company until such time as all of the Registrable Securities have been registered and sold. The
Holders of the Registrable Securities shall exercise the “piggy-back” rights provided for herein by giving written
notice, within ten days of the receipt of the Company’s notice of its intention to file a registration statement. The Company
shall use commercially reasonable efforts to cause any registration statement filed pursuant to the above “piggyback”
rights to remain effective for at least three months from the date that the Holders of the Registrable Securities are first given
the opportunity to sell all of such securities.


 






    	 	7	 



     


    

 


5.3.         General
Terms.


 


5.3.1.       Indemnification.
The Company shall, to the fullest extent permitted by applicable law, indemnify the Holder(s) of the Registrable Securities to
be sold pursuant to any registration statement hereunder and each person, if any, who controls such Holders within the meaning
of Section 15 of the Act or Section 20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”),
against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably
incurred in investigating, preparing or defending against litigation, commenced or threatened, or any claim whatsoever whether
arising out of any action between the underwriter and the Company or between the underwriter and any third party or otherwise)
to which any of them may become subject under the Act, the Exchange Act or otherwise, arising from such registration statement
but only to the same extent and with the same effect as the provisions pursuant to which the Company has agreed to indemnify the
underwriters contained in Section 5 of the Underwriting Agreement between the Company, EarlyBirdCapital Inc. (“EBC”)
and the other underwriters named therein dated the Effective Date. The Holder(s) of the Registrable Securities to be sold pursuant
to such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify the Company, its
officers and directors and each person, if any, who controls the Company within the meaning of Section 15 of the Act or Section
20(a) of the Exchange Act, against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees
and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they may
become subject under the Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders,
or their successors or assigns for specific inclusion in such registration statement or arising from any omission or the alleged
omission to state a material fact required to be stated therein or necessary to make the statement contained therein not misleading
in connection with the registration of the Registrable Securities, to the same extent and with the same effect as the provisions
contained in Section 5 of the Underwriting Agreement pursuant to which the underwriters have agreed to indemnify the Company.


 


5.3.2.       Exercise
of Purchase Option. Nothing contained in this Purchase Option shall be construed as requiring the Holder(s) to exercise their
Purchase Option or Warrants underlying such Purchase Option prior to or after the initial filing of any registration statement
or the effectiveness thereof.


 


5.3.3.       Documents
Delivered to Holders. The Company shall furnish EBC for as long as it is a Holder, as representative of the Holders participating
in any of the foregoing offerings, a signed counterpart, addressed to the participating Holders, of (i) an opinion of counsel
to the Company, dated the effective date of such registration statement (and, if such registration includes an underwritten public
offering, an opinion dated the date of the closing under any underwriting agreement related thereto), and (ii) if such registration
statement is filed in connection of an underwritten public offering, a “cold comfort” letter dated the effective date
of such registration statement (and, if such registration includes an underwritten public offering, a letter dated the date of
the closing under the underwriting agreement) signed by the independent public accountants who have issued a report on the Company’s
financial statements included in such registration statement, in each case covering substantially the same matters with respect
to such registration statement (and the prospectus included therein) and, in the case of such accountants’ letter, with
respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s
counsel and in accountants’ letters delivered to underwriters in underwritten public offerings of securities. The Company
shall also deliver promptly to EBC for as long as it is a Holder, as representative of the Holders participating in the offering,
the correspondence and memoranda described below and copies of all correspondence between the Commission and the Company, its
counsel or auditors and all memoranda relating to discussions with the Commission or its staff with respect to the registration
statement and permit EBC, as representative of the Holders, to do such investigation, upon reasonable advance notice, with respect
to information contained in or omitted from the registration statement as it deems reasonably necessary to comply with applicable
securities laws or rules of FINRA. Such investigation shall include access to books, records and properties and opportunities
to discuss the business of the Company with its officers and independent auditors, all to such reasonable extent and at such reasonable
times and as often as EBC, as representative of the Holders, shall reasonably request. The Company shall not be required to disclose
any confidential information or other records to EBC, as representative of the Holders, or to any other person, until and unless
such persons shall have entered into reasonable confidentiality agreements (in form and substance reasonably satisfactory to the
Company), with the Company with respect thereto, or if EBC is not a Holder.


 






    	 	8	 



     


    

 


5.3.4.       Underwriting
Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s), if any, selected by any
Holders whose Registrable Securities are being registered pursuant to this Section 5, which managing underwriter shall be reasonably
acceptable to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company, each Holder and
such managing underwriters, and shall contain such representations, warranties and covenants by the Company and such other terms
as are customarily contained in agreements of that type used by the managing underwriter. The Holders shall be parties to any
underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their option, require that
any or all the representations, warranties and covenants of the Company to or for the benefit of such underwriters shall also
be made to and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties to
or agreements with the Company or the underwriters except as they may relate to such Holders and their intended methods of distribution.
Such Holders, however, shall agree to such covenants and indemnification and contribution obligations for selling shareholders
as are customarily contained in agreements of that type used by the managing underwriter. Further, such Holders shall execute
appropriate custody agreements and otherwise cooperate fully in the preparation of the registration statement and other documents
relating to any offering in which they include securities pursuant to this Section 5. Each Holder shall also furnish to the Company
such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities
as shall be reasonably required to effect the registration of the Registrable Securities.


 


5.3.5.       Rule
144 Sale. Notwithstanding anything contained in this Section 5 to the contrary, the Company shall have no obligation pursuant
to Sections 5.1 or 5.2 to use any efforts to obtain the registration of Registrable Securities held by any Holder (i) where such
Holder would then be entitled to sell under Rule 144 within any three-month period (or such other period prescribed under Rule
144 as may be provided by amendment thereof) all of the Registrable Securities then held by such Holder, or (ii) where the number
of Registrable Securities held by such Holder is within the volume limitations under paragraph (e) of Rule 144 (calculated as
if such Holder were an affiliate within the meaning of Rule 144).


 


5.3.6.       Supplemental
Prospectus. Each Holder agrees, that upon receipt of any notice from the Company of the happening of any event as a result
of which the prospectus included in the registration statement, as then in effect, includes an untrue statement of a material
fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading
in light of the circumstances then existing, such Holder will immediately discontinue disposition of Registrable Securities pursuant
to the registration statement covering such Registrable Securities until such Holder’s receipt of the copies of a supplemental
or amended prospectus, and, if so desired by the Company, such Holder shall deliver to the Company (at the expense of the Company)
or destroy (and deliver to the Company a certificate of such destruction) all copies, other than permanent file copies then in
such Holder’s possession, of the prospectus covering such Registrable Securities current at the time of receipt of such
notice. Each Holder agrees that it shall be liable for, and indemnify the Company for any breach of this Section 5.3.6.


 


6.            Adjustments.


 


6.1.         Adjustments
to Exercise Price and Number of Securities. The Exercise Price and the number of Units underlying the Purchase Option shall
be subject to adjustment from time to time as hereinafter set forth:


 


6.1.1.       Share
Dividends - Split-Ups. If after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding
Ordinary Shares is increased by a share dividend payable in Ordinary Shares or by a split-up of Ordinary Shares or other similar
event, then, on the effective date thereof, the number of Ordinary Shares underlying each of the Units purchasable hereunder shall
be increased in proportion to such increase in outstanding shares and the Exercise Price shall be proportionately decreased. In
such case, the number of Ordinary Shares, and the exercise price applicable thereto, underlying the Warrants underlying each of
the Units purchasable hereunder shall be adjusted in accordance with the terms of the Warrants.


 


6.1.2.       Aggregation
of Shares. If after the date hereof, and subject to the provisions of Section 6.3, the number of outstanding Ordinary Shares
is decreased by a consolidation, combination or reclassification of Ordinary Shares or other similar event, then, on the effective
date thereof, the number of Ordinary Shares underlying each of the Units purchasable hereunder shall be decreased in proportion
to such decrease in outstanding shares, and the Exercise Price shall be proportionately increased. In such case, the number of
Ordinary Shares, and the exercise price applicable thereto, underlying the Warrants underlying each of the Units purchasable hereunder
shall be adjusted in accordance with the terms of the Warrants.


 






    	 	9	 



     


    

 


6.1.3.       Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Ordinary Shares
other than a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such Ordinary Shares, or
in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger
in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding
Ordinary Shares), or in the case of any sale or conveyance to another corporation or entity of the property of the Company as
an entirety or substantially as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Option
shall have the right thereafter (until the expiration of the right of exercise of this Purchase Option) to receive upon the exercise
hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event, the kind and amount of shares
or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation,
or upon a dissolution following any such sale or transfer, by a Holder of the number of Ordinary Shares of the Company obtainable
upon exercise of this Purchase Option and the underlying Rights and Warrants immediately prior to such event; and if any reclassification
also results in a change in Ordinary Shares covered by Section 6.1.1 or 6.1.2, then such adjustment shall be made pursuant to
Sections 6.1.1, 6.1.2 and this Section 6.1.3. The provisions of this Section 6.1.3 shall similarly apply to successive reclassifications,
reorganizations, mergers or consolidations, sales or other transfers.


 


6.1.4.       Changes
in Form of Purchase Option. This form of Purchase Option need not be changed because of any change pursuant to this Section,
and a Purchase Option issued after such change may state the same Exercise Price and the same number of Units as are stated in
the Purchase Option as initially issued. The acceptance by any Holder of the issuance of a new Purchase Option reflecting a required
or permissive change shall not be deemed to waive any rights to an adjustment occurring after the Commencement Date or the computation
thereof.


 


6.2.         Substitute
Purchase Option. In case of any consolidation of the Company with, or merger of the Company with, or merger of the Company
into, another corporation (other than a consolidation or merger which does not result in any reclassification or change of the
outstanding Ordinary Shares), the corporation formed by such consolidation or merger shall execute and deliver to the Holder a
supplemental Purchase Option providing that the holder of each Purchase Option then outstanding or to be outstanding shall have
the right thereafter (until the stated expiration of such Purchase Option) to receive, upon exercise of such Purchase Option,
the kind and amount of shares and other securities and property receivable upon such consolidation or merger, by a holder of the
number of Ordinary Shares of the Company for which such Purchase Option might have been exercised immediately prior to such consolidation,
merger, sale or transfer. Such supplemental Purchase Option shall provide for adjustments which shall be identical to the adjustments
provided in Section 6.1. The above provision of this Section shall similarly apply to successive consolidations or mergers.


 


6.3.         Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Ordinary Shares
or Warrants upon the exercise of the Purchase Option, nor shall it be required to issue scrip or pay cash in lieu of any fractional
interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or
down to the nearest whole number of Warrants, Ordinary Shares or other securities, properties or rights (or as otherwise provided
pursuant to the Warrants Agreement or Rights Agreement, as the case may be).


 


7.            Reservation
and Listing.


 


The
Company shall at all times reserve and keep available out of its authorized but unissued Ordinary Shares, solely for the purpose
of issuance upon exercise of the Purchase Option (including the Ordinary Shares underlying the Rights) or the Warrants underlying
the Purchase Option, such number of Ordinary Shares or other securities, properties or rights as shall be issuable upon the exercise
thereof. The Company covenants and agrees that, upon exercise of the Purchase Option and payment of the Exercise Price therefor,
all Ordinary Shares and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable
and not subject to preemptive rights of any shareholder. The Company further covenants and agrees that upon exercise of the Warrants
underlying the Purchase Option and payment of the respective Warrant exercise price therefor, all Ordinary Shares and other securities
issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights
of any shareholder.


 






    	 	10	 



     


    

 


8.            Certain
Notice Requirements.


 


8.1.         Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent as
a shareholder for the election of directors or any other matter, or as having any rights whatsoever as a shareholder of the Company.
If, however, at any time prior to the expiration of the Purchase Option and its exercise, any of the events described in Section
8.2 shall occur, then, in one or more of said events, the Company shall give written notice of such event at least fifteen days
prior to the date fixed as a record date or the date of closing the transfer books for the determination of the shareholders entitled
to such dividend, distribution, conversion or exchange of securities or subscription rights, or entitled to vote on such proposed
dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of the closing of the transfer
books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder a copy of each notice given
to the other shareholders of the Company at the same time and in the same manner that such notice is given to the shareholders.


 


8.2.         Events
Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of the following
events: (i) if the Company shall take a record of the holders of its Ordinary Shares for the purpose of entitling them to receive
a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained
earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, or (ii) the Company
shall offer to all the holders of its Ordinary Shares any additional shares of the Company or securities convertible into or exchangeable
for shares of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation or winding
up of the Company (other than in connection with a consolidation or merger) or a sale of all or substantially all of its property,
assets and business shall be proposed. The parties hereto agree that any breach of this Section 8.2 shall not invalidate any of
the events described in this Section 8.2 or make or deem such events not authorized.


 


8.3.         Notice
of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant
to Section 6 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price
Notice shall describe the event causing the change and the method of calculating same and shall be certified as being true and
accurate by the Company’s President and Chief Financial Officer.


 


8.4.         Transmittal
of Notices. All notices, requests, consents and other communications under this Purchase Option shall be in writing and shall
be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service, or receipt is acknowledged
if sent via facsimile: (i) if to the registered Holder of the Purchase Option, to the address of such Holder as shown on the books
of the Company, or (ii) if to the Company, to the following address or to such other address as the Company may designate by notice
to the Holders:


 


Bison
Capital Acquisition Corp.


609-610
21st Century Tower


No.
40 Liangmaqiao Road


Chaoyang
District, Beijing, China 100016


Attn:
James Jiayuan Tong


Fax:
+86 10 84446968, ext. 800


 


with
a copy in each case (which shall not constitute notice) to:


 


Hunter
Taubman Fischer & Li LLC


1450
Broadway, 26th Floor


New
York, New York 10018


Fax:
212-202-6380


Attn:
Arila Zhou, Esq.


 






    	 	11	 



     


    

 


9.            Miscellaneous.


 


9.1.         Amendments.
The Company and EBC, for as long as it is a Holder, may from time to time supplement or amend this Purchase Option without the
approval of any of the Holders in order to cure any ambiguity, to correct or supplement any provision contained herein that may
be defective or inconsistent with any other provisions herein, or to make any other provisions in regard to matters or questions
arising hereunder that the Company and EBC may deem necessary or desirable and that the Company and EBC deem shall not adversely
affect the interest of the Holders. All other modifications or amendments shall require the written consent of and be signed by
the party against whom enforcement of the modification or amendment is sought.


 


9.2.         Headings.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the
meaning or interpretation of any of the terms or provisions of this Purchase Option.


 


9.3.         Entire
Agreement. This Purchase Option (together with the other letters, agreements and documents being delivered pursuant to or
in connection with this Purchase Option) constitutes the entire agreement of the parties hereto with respect to the subject matter
hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter
hereof.


 


9.4.         Binding
Effect. This Purchase Option shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and
their permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed
to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Option or any provisions
herein contained.


 


9.5.         Governing
Law; Submission to Jurisdiction. This Purchase Option shall be governed by and construed and enforced in accordance with the
laws of the State of New York, without giving effect to conflict of laws. Each of the Holder and the Company hereby agree that
any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Option shall be resolved through
final and binding arbitration in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”).
The arbitration shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City,
New York, will be conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes
Panel and that the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the
party from whom enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s
legal fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators. The Company hereby
appoints, without power of revocation, CT Corporation System, 111 Eighth Avenue, New York, New York 10011, as agent to accept
and acknowledge on its behalf of any and all process which may be served in any arbitration, action, proceeding or counterclaim
in any way relating to or arising out of this Purchase Option.


 


9.6.         Waiver,
etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Option shall not
be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Option or
any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase
Option. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Option shall be effective
unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver is
sought; and no waiver of any such breach, non-compliance or non- fulfillment shall be construed or deemed to be a waiver of any
other or subsequent breach or non-compliance.


 


9.7.         Execution
in Counterparts. This Purchase Option may be executed in one or more counterparts, and by the different parties hereto in
separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and
the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and
delivered to each of the other parties hereto.


 


9.8.         Exchange
Agreement. As a condition of the Holder’s receipt and acceptance of this Purchase Option, Holder agrees that, at any
time prior to the complete exercise of this Purchase Option by Holder, if the Company and EBC enter into an agreement (“Exchange
Agreement”) pursuant to which they agree that all outstanding Purchase Option will be exchanged for securities or
cash or a combination of both, then Holder shall be deemed to have agreed to such exchange and it shall become a party to the
Exchange Agreement.


 


9.9.         Representations
and Warranties. The Holder’s receipt and acceptance of this Purchase Option and any subsequent exercises of this Purchase
Option are subject to the Company receiving any representations and warranties the Company reasonably requests in order to ensure
compliance with the Act.


 






    	 	12	 



     


    







 


IN
WITNESS WHEREOF, the Company has caused this Purchase Option to be signed by its duly authorized officer as of the ____ day of
___________, 2017.


 


	 	BISON CAPITAL ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	Name: 	James
    Jianyuan Tong
	 	Title:	Chief
Executive Officer


 






    	 	13	 



     


    







 


Form
to be used to exercise Purchase Option:


 


Bison
Capital Acquisition Corp.


[●]


Fax
No.: [●]


Attn.:
James Jianyuan Tong


Date:_________________,
20___


 


The
undersigned hereby elects irrevocably to exercise all or a portion of the within Purchase Option and to purchase ____ Units of
Bison Capital Acquisition Corp. and hereby makes payment of $____________ (at the rate of $_________ per Unit) in payment of the
Exercise Price pursuant thereto. Please issue the securities as to which this Purchase Option is exercised in accordance with
the instructions given below.


 


or


 


The
undersigned hereby elects irrevocably to convert its right to purchase _________ Units purchasable under the within Purchase Option
by surrender of the unexercised portion of the attached Purchase Option (with a “Value” based of $_______ based on
a “Market Price” of $_______). Please issue the securities comprising the Units as to which this Purchase Option is
exercised in accordance with the instructions given below.


 


	 	 	 
	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of the purchase option in every particular,
    without alteration or enlargement or any change whatever.
	 	 	 
	Signature(s)
    Guaranteed:	 	 
	 	 	 
	 	 	 
	THE
    SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
    AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).	 	 


 


INSTRUCTIONS
FOR REGISTRATION OF SECURITIES


 


Name
of Unitholder: _________________________________________

                                              (Print in block letters)


 


Address: _________________________________________________


 






     


     


    

 


Form
to be used to assign Purchase Option:


 


ASSIGNMENT


 


(To
be executed by the registered Holder to effect a transfer of the within Purchase Option):


 


FOR
VALUE RECEIVED,______________________________________________ does hereby sell, assign and transfer unto___________________________________________
the right to purchase __________ Units of Bison Capital Acquisition Corp. (“Company”) evidenced by the
within Purchase Option and does hereby authorize the Company to transfer such right on the books of the Company.


 


The
address of the transferee is:________________


 


Dated:
___________________, 20__


 


	 	 	 
	 	 	Signature
	 	 	 
	 	 	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of the purchase option in every particular,
    without alteration or enlargement or any change whatever.
	 	 	 
	Signature(s)
    Guaranteed:	 	 
	 	 	 
	 	 	 
	THE
    SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
    AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).	 	 



 




 


2