Exhibit 10.1


 


April
12, 2022


 


Aura
FAT Projects Acquisition Corp


1
Phillip Street, #09-00


Royal
One Phillip


Singapore,
048692


 


Re:
Initial Public Offering


 


Ladies
and Gentlemen:


 


This
letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the
“Underwriting Agreement”) to be entered into by and between Aura FAT Projects Acquisition Corp, a Cayman Islands
exempted company with registration number 384483 (the “Company”) and EF Hutton, division of Benchmark Investments,
LLC, as representative (the “Representative”) of the underwriters (each, an “Underwriter”
and collectively, the “Underwriters”), relating to an underwritten initial public offering (the “Public
Offering”), of up to 11,500,000 of the Company’s units (including up to 1,500,000 units that may be purchased to
cover over-allotments, if any) (the “Units”), each comprised of one Class A ordinary share, having a par or
nominal value of US $0.0001 per share, of the Company (the “Ordinary Shares”), and one redeemable warrant (each
whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Ordinary Share at a price
of US $11.50 per share, subject to adjustment. The Units will be sold in the Public Offering pursuant to a registration statement on
Form S-1 and a prospectus (the “Prospectus”) filed by the Company with the U.S. Securities and Exchange Commission
(the “Commission”) and the Units have been approved to be listed on the Nasdaq Global Market. Certain capitalized
terms used herein are defined in Paragraph 11 hereof.


 


In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Aura FAT Projects Capital LLC,
a Cayman Islands limited liability company with registration number LC 5067 (the “Sponsor”) and each of the
undersigned individuals, each of whom is a member of the Company’s board of directors and/or management team (each of the undersigned
individuals, an “Insider” and collectively, the “Insiders”), hereby agrees with the
Company as follows:


 


1.
The Sponsor and each Insider agree that if the Company seeks shareholder approval of a proposed Business Combination, then in
connection with such proposed Business Combination, it, he or she shall (i) vote all Founder Shares and any Ordinary Shares owned by
it, him or her in favor of any proposed Business Combination and (ii) not redeem any Ordinary Shares owned by it, him or her in
connection with such shareholder approval. If the Company engages in a tender offer in connection with any proposed Business
Combination, each Insider agrees that it, he or she will not seek to sell its, his or her Ordinary Shares to the Company in
connection with such tender offer.


 






     


     


    

 


2.
The Sponsor and each Insider hereby agree that in the event that the Company fails to consummate a Business Combination within 15 months
from the date of the closing of the Public Offering (or up to 21 months if the Company extends the period of time to consummate a business
combination, as described in more detail in the Prospectus, or as extended by the Company’s shareholders in accordance with its
Charter), the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the
purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully available
funds therefor, redeem 100% of the Ordinary Shares sold as part of the Units in the Public Offering (the “Offering Shares”),
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account (as defined below), including
interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes (less up to US $100,000
of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption will completely
extinguish all Public Shareholders’ rights as shareholders of the Company (including the right to receive further liquidation distributions,
if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of
the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in each case to
the Company’s obligations under Cayman Islands law to provide for claims of creditors and other requirements of applicable law.
The Sponsor and each Insider agree not to propose any amendment to the Company’s Charter that would modify (i) the substance or
timing of the Company’s obligation to redeem 100% of the Offering Shares if the Company does not complete a Business Combination
within 15 months from the date of the closing of the Public Offering (or up to 21 months if the Company extends the period of time to
consummate a business combination, as described in more detail in the Prospectus, or as extended by the Company’s shareholders
in accordance with its Charter) or (ii) the other provisions relating to shareholders’ rights or pre-initial business combination
activities, unless the Company provides its Public Shareholders with the opportunity to redeem their Offering Shares upon approval of
any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest (which interest shall be net of amounts released for payment of taxes) divided by the number of then outstanding Offering Shares.
The Sponsor and each Insider agree to waive its redemption rights with respect to Ordinary Shares and Founder Shares owned by it in connection
with a shareholder vote to approve an amendment to the Company’s Charter (A) to modify the substance or timing of the Company’s
obligation to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within 15 months from the date
of the closing of the Public Offering (or up to 21 months if the Company extends the period of time to consummate a business combination,
as described in more detail in the Prospectus, or as extended by the Company’s shareholders in accordance with its Charter) or
(B) with respect to any other provision relating to shareholders’ rights or pre-initial business combination activity.


 


The
Sponsor and each Insider acknowledge that it, he or she has no right, title, interest or claim of any kind in or to any monies held in
the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares
held by it, him or her. The Sponsor and each Insider hereby further waive, with respect to any Founder Shares and Offering Shares held
by it, him or her, if any, any redemption rights it, he or she may have in connection with the consummation of a Business Combination,
including, without limitation, any such rights available in the context of a shareholder vote to approve such Business Combination or
in the context of a tender offer made by the Company to purchase Ordinary Shares (although the Sponsor, the Insiders and their respective
affiliates shall be entitled to liquidation rights with respect to any Offering Shares it or they hold if the Company fails to consummate
a Business Combination within 15 months from the date of the closing of the Public Offering (or up to 21 months if the Company extends
the period of time to consummate a business combination, as described in more detail in the Prospectus, or as extended by the Company’s
shareholders in accordance with its Charter)).


 






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3.
During the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and
each Insider shall not, without the prior written consent of the Representative, (i) sell, offer to sell, contract or agree to sell,
hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish
or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, with respect to any Units,
Ordinary Shares, Warrants or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares owned by it, him or
her, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of
ownership of any Units, Founder Shares and Ordinary Shares, Warrants or any securities convertible into, or exercisable, or exchangeable
for, Ordinary Shares owned by it, him or her, whether any such transaction is to be settled by delivery of such securities, in cash or
otherwise, or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii); provided, however,
all of the foregoing does not apply to the forfeiture of any Founder Shares pursuant to their terms or any transfer of Founder Shares
to any current or future independent director of the Company (as long as such current or future independent director transferee is subject
to this Letter Agreement or executes an agreement substantially identical to the terms of this Letter Agreement, as applicable to directors
and officers at the time of such transfer; and as long as, to the extent any Section 16 reporting obligation is triggered as a result
of such transfer, any related Section 16 filing includes a practical explanation as to the nature of the transfer). Each of the
Insiders and the Sponsor acknowledges and agrees that, prior to the effective date of any release or waiver, of the restrictions set
forth in this Paragraph 3 or Paragraph 7 below, the Company shall announce the impending release or waiver by press release
through a major news service at least two business days before the effective date of the release or waiver. Any release or waiver granted
shall only be effective two business days after the publication date of such press release. The provisions of this Paragraph will not
apply if the release or waiver is effected solely to permit a transfer not for consideration and the transferee has agreed in writing
to be bound by the same terms described in this Letter Agreement to the extent and for the duration that such terms remain in effect
at the time of the transfer.


 


4.
In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other
shareholders, members or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability,
claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating,
preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become
subject as a result of any claim by (i) any third party (other than the Company’s independent accountants) for services rendered
or products sold to the Company or (ii) a prospective target business with which the Company has entered into a written letter of intent,
confidentiality or other similar agreement for a Business Combination (a “Target”); provided, however,
that such indemnification of the Company by the Sponsor shall apply only to the extent necessary to ensure that such claims by a third
party for services rendered (other than the Company’s independent public accountants) or products sold to the Company or a Target
do not reduce the amount of funds in the Trust Account to below (i) US $10.20 per share of the Offering Shares or (ii) such lesser amount
per share of the Offering Shares held in the Trust Account due to reductions in the value of the trust assets as of the date of the liquidation
of the Trust Account, in each case, net of the amount of interest earned on the property in the Trust Account which may be withdrawn
to pay taxes, except as to any claims by a third party (including a Target) who executed a waiver of any and all rights to seek access
to the Trust Account and except as to any claims under the Company’s indemnity of the Underwriters against certain liabilities,
including liabilities under the Securities Act of 1933. In the event that any such executed waiver is deemed to be unenforceable against
such third party, the Sponsor shall not be responsible to the extent of any liability for such third party claims. The Sponsor shall
have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days
following written receipt of notice of the claim to the Sponsor, the Sponsor notifies the Company in writing that it shall undertake
such defense.


 






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5.
To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 1,500,000 Units within
45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to automatically surrender to
the Company for no consideration, for cancellation at no cost, a number of Founder Shares in the aggregate equal to the product of 375,000
multiplied by a fraction, (i) the numerator of which is 1,500,000 minus the number of Units purchased by the Underwriters upon the exercise
of their over-allotment option, and (ii) the denominator of which is 1,500,000. The surrender will be adjusted to the extent that the
over-allotment option is not exercised in full by the Underwriters so that the number of Founder Shares will equal of 20% of the sum
of total number of Ordinary Shares and Founder Shares outstanding at such time (excluding the Representative’s Ordinary Shares).
The Sponsor and Insiders further agree that to the extent that the size of the Public Offering is increased or decreased, the Company
will effect a share capitalization or a share repurchase, as applicable, with respect to the Founder Shares immediately prior to the
consummation of the Public Offering in such amount as to maintain the number of Founder Shares at 20% of the sum of the total number
of Ordinary Shares and Founder Shares outstanding at such time (excluding the Representative’s Ordinary Shares).


 


6.
The Sponsor and each Insider hereby agree and acknowledge that: (i) the Underwriters and the Company would be irreparably injured in
the event of a breach by such Sponsor or an Insider of its, his or her obligations, as applicable, under Paragraphs 1, 2,
3, 4, 5, 6, 7(a), 7(b), and 9 of this Letter Agreement, (ii) monetary damages may not
be an adequate remedy for such breach, and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other
remedy that such party may have in law or in equity, in the event of such breach.


 


7.
(a) The Sponsor and each Insider agree that it or he shall not Transfer any Founder Shares (or Ordinary Shares issuable upon
conversion thereof) until the earlier of (A) six months after the date of the Company’s initial Business Combination or (B)
subsequent to the Company’s initial Business Combination, (x) if the reported last sale price of the Ordinary Shares
equals or exceeds US $12.00 per share (as adjusted for share subdivisions, share dividends, right issuances, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the
Company’s initial Business Combination, or (y) the date on which the Company completes a liquidation, merger, share
exchange, reorganization or other similar transaction that results in all of our shareholders having the right to exchange their
shares for cash, securities or other property (the “Founder Shares Lock-up Period”).


 






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(b)
The Sponsor and each Insider agree that it, he or she shall not Transfer any Private Placement Warrants or Ordinary Shares issued or
issuable upon the exercise of the Private Placement Warrants, until 30 days after the completion of the initial Business Combination
(the “Private Placement Warrants Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up
Periods”).


 


(c)
Notwithstanding the provisions set forth in Paragraphs 7(a) and 7(b), Transfers of the Founder Shares, Private Placement
Warrants and Ordinary Shares issued or issuable upon the exercise or conversion of the Private Placement Warrants or the Founder Shares
that are held by the Sponsor, any Insider or any of their permitted transferees (that have complied with this Paragraph 7(c)),
are permitted (a) to the Company’s officers, directors, any affiliate or family member of any of the Company’s officers,
directors or any members of the Sponsor or any affiliates of the Sponsor; (b) in the case of an individual, by gift to a member of such
individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s immediate family,
an affiliate of such individual or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution
upon death of such individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales
or transfers made in connection with the consummation of an initial Business Combination at prices no greater than the price at which
the securities were originally purchased; (f) in the event of the Company’s liquidation prior to the completion of an initial Business
Combination; (g) by virtue of the laws of Cayman Islands or the Sponsor’s organizational documents upon liquidation or dissolution
of the Sponsor; (h) to the Company for no value for cancellation in connection with the consummation of an initial Business Combination,
or (i) in the event of the Company’s liquidation, merger, share exchange, reorganization or other similar transaction which results
in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property
subsequent to the Company’s completion of an initial Business Combination; provided, however, that in the case of
clauses (a) through (e), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the
transfer restrictions herein and the other restrictions contained in this Agreement (including provisions relating to voting, the Trust
Account and liquidating distributions).


 






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8.
The Sponsor and each Insider represent and warrant that it, he or she has never been suspended or expelled from membership in any securities
or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each
Insider’s biographical information furnished to the Company (including any such information included in the Prospectus) is true
and accurate in all respects and does not omit any material information with respect to the Insider’s background. The Sponsor and
each Insider represents and warrants that the questionnaire it, he or she furnished to the Company is true and accurate in all respects.
The Sponsor and each Insider represent and warrant that: it, he or she is not subject to or a respondent in any legal action for, any
injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of
securities in any jurisdiction; it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii)
relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and
it, he or she is not currently a defendant in any such criminal proceeding. The Company represents and warrants that, to its knowledge,
(i) none of its advisors has been suspended or expelled from membership in any securities or commodities exchange or association or had
a securities or commodities license or registration denied, suspended or revoked, (ii) each advisor’s biographical information
furnished to the Company (including any such information included in the Prospectus) is true and accurate in all respects and does not
omit any material information with respect to such advisor’s background and each advisor’s questionnaire furnished to the
Company is true and accurate in all respects, (iii) none of its advisors is subject to or a respondent in any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in
any jurisdiction; and (iv) none of its advisors has been convicted of, or pleaded guilty to, any crime (x) involving fraud, (y) relating
to any financial transaction or handling of funds of another person, or (z) pertaining to any dealings in any securities and none of
its advisors is currently a defendant in any such criminal proceeding.


 


9.
Except as disclosed in the Prospectus and cash or other compensation to the Company’s officers to be engaged subsequent to the
consummation of the Public Offering (which will be disclosed in the Company’s other filings with the Commission), neither the Sponsor
nor any individual who is an officer or director of the Company as of the date hereof nor any affiliate thereof shall receive from the
Company any finder’s fee, reimbursement, consulting fee, non-cash payments, monies in respect of any repayment of a loan
or other compensation prior to, or in connection with any services rendered in order to effectuate the consummation of the Company’s
initial Business Combination (regardless of the type of transaction that it is), other than the following, none of which will be made
from the proceeds held in the Trust Account prior to the completion of the initial Business Combination: repayment of a loan and advances
up to an aggregate of US $300,000 made to the Company by Aura FAT Projects Capital LLC; reimbursement for any out-of-pocket expenses
related to identifying, investigating and consummating an initial Business Combination; payment to an affiliate of the Sponsor of US
$20,000 per month, for up to 24 months, for office space, utilities and secretarial and administrative support; and repayment of non-interest
bearing loans, if any, and on such terms as to be determined by the Company from time to time, made by the Sponsor or any of the Company’s
officers or directors to finance transaction costs in connection with an intended initial Business Combination, provided, that, if the
Company does not consummate an initial Business Combination, a portion of the working capital held outside the Trust Account may be used
by the Company to repay such loaned amounts so long as no proceeds from the Trust Account are used for such repayment. Up to US $1,500,000
of such loans may be convertible into warrants, at a price of US $1.00 per warrant at the option of the lender, upon consummation of
the initial Business Combination. The warrants would be identical to the Private Placement Warrants.


 


10.
The Sponsor and each Insider, represent and warrant to the Company that it, she or he has full right and power, without violating
any agreement to which it, she or he is bound (including, without limitation, any non-competition or non-solicitation agreement with
any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as an officer, a director on the
board of directors of the Company and hereby consents to being named in the Prospectus as an officer, a director of the
Company.


 






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11.
As used herein, (i) “Business Combination” shall mean a merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Founder Shares”
shall mean the 2,875,000 Class B ordinary shares, having a par or nominal value of US $0.0001 per share, initially held by the Sponsor
(up to 375,000 Shares of which are subject to complete or partial forfeiture by the Sponsor if the over-allotment option is not exercised
in full by the Underwriters); (iii) “Initial Shareholders” shall mean the Sponsor and any other holder of Founder
Shares immediately prior to the Public Offering; (iv) “Private Placement Warrants” shall mean the Warrants
to purchase up to 4,550,000 Ordinary Shares (or up to 5,000,000 Ordinary Shares if the over-allotment option is exercised in full) that
will be acquired by the Sponsor for an aggregate purchase price of US $4,550,000 (or up to US $5,000,000 if the Underwriters exercise
their option to purchase additional units), or US $1.00 per Warrant, in a private placement that shall close simultaneously with the
consummation of the Public Offering (including Ordinary Shares issuable upon conversion thereof); (v) “Public Shareholders”
shall mean the holders of securities issued in the Public Offering; (vi) “Trust Account” shall mean the trust
fund into which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Warrants shall be deposited;
(vii) “Transfer” shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate,
pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment
or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning
of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder
with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the
economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in
cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b), and (viii) “Charter”
shall mean the Company’s Amended and Restated Memorandum and Articles of Association, as the same may be further amended and/or
restated from time to time.


 


12.
The Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance, and each
Director and Officer shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the
coverage available for any of the Company’s directors or officers.


 


13.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent
they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed,
amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument
executed by all parties hereto.


 


14.
No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written
consent of the other parties. Any purported assignment in violation of this Paragraph shall be void and ineffectual and shall not operate
to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each
Insider and their respective successors, heirs and assigns and permitted transferees.


 






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15.
Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto
any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement
hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and
exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees.


 


16.
This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.


 


17.
This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.


 


18.
This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties
hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall
be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue,
which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts
represent an inconvenient forum.


 


19.
Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile transmission.


 


20.
This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company;
provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated
and closed by October 31, 2022; provided further that Paragraph 4 of this Letter Agreement shall survive such liquidation.


 


21.
The Company, the Sponsor and each Insider hereby acknowledges and agrees that the Representative is a third party beneficiary of this
Letter Agreement.


 


22.
To the extent the undersigned is a director or officer of the Company, the undersigned agrees to be a director/officer of the Company
until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company. The undersigned’s
biographical information previously furnished to the Company and the Representative is true and accurate in all material respects, does
not omit any material information with respect to the undersigned’s biography and contains all of the information required to be
disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act of 1933. The undersigned’s FINRA Questionnaire
previously furnished to the Company and the Representative is true and accurate in all material respects. The undersigned represents
and warrants that:


 






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(i)
He, she or it has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him,
her or it, or any partnership in which he or she was a general partner at or within two years before the time of filing; or (ii) any
corporation or business association of which he or she was an executive officer at or within two years before the time of such filing;


 


(ii)
He, she or it has never had a receiver, fiscal agent or similar officer been appointed by a court for his business or property, or any
such partnership;


 


(iii)
He, she or it has never been convicted of fraud in a civil or criminal proceeding;


 


(iv)
He, she or it has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding
traffic violations and minor offenses);


 


(v)
He, she or it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court
of competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him, her or it from (i) acting as a futures commission
merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other
person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of the foregoing, or
as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment
company, bank, savings and loan association or insurance company, or from engaging in or continuing any conduct or practice in connection
with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging in any activity in connection
with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities or federal
commodities laws;


 


(vi)
He, she, or it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal
or state authority barring, suspending or otherwise limiting for more than 60 days his, her or its right to engage in any activity described
in 10(e)(i) above, or to be associated with persons engaged in any such activity;


 


(vii)
He, she, or it has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal
or state securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended
or vacated;


 


(viii)
He, she, or it has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal
commodities law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;


 






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(ix)
He, she, or it has never been the subject of, or a party to, any Federal, State or foreign judicial or administrative order, judgment,
decree or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal, State or foreign
securities or commodities law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including,
but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent
cease-and desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection
with any business entity;


 


(x)
He, she or it has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or
any self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary
authority over its members or persons associated with a member;


 


(xi)
He, she or it has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii)
involving the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker,
dealer, municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;


 


(xii)
He, she or it was never subject to a final order of a state or foreign securities commission (or an agency of officer of a state performing
like functions); a state or foreign authority that supervises or examines banks, savings associations, or credit unions; a state or foreign
insurance commission (or an agency or officer of a state performing like functions); an appropriate federal or foreign banking agency;
the CFTC; or the National Credit Union Administration that is based on a violation of any law or regulation that prohibits fraudulent,
manipulative, or deceptive conduct;


 


(xiii)
He, she or it has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of the
sale of the Units, restrained or enjoined him, her or it from engaging or continuing to engage in any conduct or practice: (i) in connection
with the purchase or sale of any security; (ii) involving the making of any false filing with the SEC or any foreign regulatory agency
with similar functions; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer,
investment adviser or paid solicitor of purchasers of securities;


 


(xiv)
He, she or it has never been subject to any order of the SEC or any foreign regulatory agency with similar functions that orders him,
her or it to cease and desist from committing or causing a future violation of: (i) any scienter-based anti-fraud provision of the federal
securities laws, including, but not limited to, Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5
thereunder, Section 15(c) and Section 206(1) of the Advisers Act or any other rule or regulation thereunder; or (ii) Section 5 of the
Securities Act;


 


(xv)
He, she or it has never filed (as a registrant or issuer), or been named as an underwriter in any registration statement or Regulation
A offering statement filed with the SEC that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption,
or is, currently, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued;


 






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(xvi)
He, she or it has never been subject to a United States Postal Service false representation order, or is currently subject to a
temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to
constitute a scheme or device for obtaining money or property through the mail by means of false representations;


 


(xvii)
He, she or it is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or an agency
or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit Union Administration
that bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency or officer; (ii) engaging
in the business of securities, insurance or banking; or (iii) engaging in savings association or credit union activities;


 


(xviii)
He, she or it is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934
(the “Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”)
that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment adviser;
(ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person; or (iii) bars
the undersigned from being associated with any entity or from participating in the offering of any penny stock; and


 


(xix)
He, she or it has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities association)
for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.


 


[Signature
Page Follows]


 






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	 	Sincerely,
	 	 
	 	Aura FAT Projects Acquisition Corp
	 	 	 	 
	 	By: 	/s/ David Andrada
	 		Name:	David Andrada
	 	 	Title:	C-Chief Executive Officer
	 	 	 	 
	 	Aura FAT Projects Capital LLC
	 	 	 	 
	 	By: 	/s/ David Andrada
	 	 	Name:	David Andrada
	 	 	Title:	Manager
	 	 	 	 
	 	/s/ David Andrada
	 	David Andrada
	 	 	 	 
	 	/s/ Tristan Lo
	 	Tristan Lo
	 	 	 	 
	 	/s/ Calvin Ng
	 	Kar Wing (Calvin) Ng
	 	 	 	 
	 	/s/ Nils Michaelis
	 	Nils Michaelis
	 	 	 	 
	 	/s/ Thorsten Neumann
	 	Thorsten Neumann
	 	 	 	 
	 	/s/ Leigh Travers
	 	Leigh Travers
	 	 	 	 
	 	/s/ Aneel Ranadive
	 	Aneel Ranadive
	 	 	 	 
	 	/s/ John Laurens
	 	John Laurens
	 	 	 	 
	 	/s/ Jay McCarthy
	 	Jay McCarthy





 






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