Exhibit 10.4


 


PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT


 


THIS PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT,
dated as of January 5, 2021 (as it may from time to time be amended, this “Agreement”), is entered into by and
between Kairos Acquisition Corp., a Cayman Islands exempted company (the “Company”), and Kairos Alpha Acquisition
LLC, a Delaware limited liability company (the “Sponsor”).


 


WHEREAS:


 


The Company intends to consummate an initial
public offering of the Company’s units (the “Public Offering”), each unit consisting of one Class A
ordinary share of the Company, par value $0.0001 per share (each, a “Share”), and one-half of one redeemable
warrant;


 


Each whole warrant entitles the holder to
purchase one Share at an exercise price of $11.50 per Share; and


 


The Sponsor has agreed to purchase, at an
average price of $0.93 per warrant, an aggregate of 2,497,502 warrants (or up to 2,726,736 warrants if the over-allotment option
in connection with the Public Offering is exercised in full) (the “Private Placement Warrants”), each Private
Placement Warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share.


 


NOW THEREFORE, in consideration of the mutual
promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:


 


AGREEMENT


 


Section 1.  Authorization, Purchase and Sale; Terms
of the Private Placement Warrants.


 


A.  Authorization
of the Private Placement Warrants.  The Company has duly authorized the issuance and sale of the Private Placement Warrants
to the Sponsor.


 


B.  Purchase and
Sale of the Private Placement Warrants.


 


(i)  Simultaneously with the consummation
of the Public Offering or on such earlier time and date as may be mutually agreed by the Sponsor and the Company (the “Initial
Closing Date”), the Company shall issue and sell to the Sponsor, and the Sponsor shall purchase from the Company, an
aggregate of 2,497,502 Private Placement Warrants (the “Initial Warrants”) at an average price of $0.93 per
warrant for an aggregate purchase price of $2,313,380 (the “Purchase Price”). Sponsor shall pay the Purchase
Price by wire transfer of immediately available funds to the trust account (the “Trust Account”) maintained
by Continental Stock Transfer & Trust Company, acting as trustee (“Continental”), at least one (1) business
day prior to the date of effectiveness (the “Effective Date”) of the registration statement relating to the
Public Offering (the “Registration Statement”).  On the Initial Closing Date, upon the payment by the Sponsor
of the Purchase Price, the Company, at its option, shall deliver a certificate evidencing the Private Placement Warrants purchased
on such date duly registered in the Sponsor’s name to the Sponsor or effect such delivery in book-entry form. The Initial
Warrants shall be allocated between the Sponsor as set forth on Schedule A hereto.


 


(ii)  Simultaneously with the
consummation of the closing of the over-allotment option in connection with the Public Offering (the “Over-Allotment
Option”) or on such earlier time and date as may be mutually agreed by the Sponsor and the Company (each such date,
an “Over-allotment Closing Date,” and each Over-allotment Closing Date (if any) and the Initial Closing
Date being sometimes referred to herein as a “Closing Date”), the Company shall issue and sell to the
Sponsor, and the Sponsor shall purchase from the Company, an aggregate of up to 229,234 Private Placement Warrants (the
 “Over-Allotment Warrants”) at an average price of $1.00 per warrant for an aggregate purchase price of up
to $228,169 (if the over-allotment option in connection with the Public Offering is exercised in full) (the
 “Over-allotment Purchase Price”). The Sponsor shall pay the Over-allotment Purchase Price by wire transfer
of immediately available funds to the Trust Account maintained by Continental at least one (1) business day prior to the
Over-allotment Closing Date.  On the Over-allotment Closing Date, upon the payment by the Sponsor of the Over-allotment
Purchase Price to the Company, the Company shall, at its option, deliver a certificate evidencing the Private Placement
Warrants purchased on such date duly registered in the Sponsor’s name to the Sponsor or effect such delivery in
book-entry form.


 






     


     


    

 


C.  Terms of the
Private Placement Warrants.


 


(i)   Each Private Placement
Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent, in connection
with the Public Offering (the “Warrant Agreement”).


 


(ii)  On the Effective Date, the
Company and the Sponsor shall enter into a registration rights agreement (the “Registration Rights Agreement”)
pursuant to which the Company will grant certain registration rights to the Sponsor relating to the Private Placement Warrants
and the Shares underlying the Private Placement Warrants.


 


(iii) The Private Placement Warrants
shall be terminated upon the dissolution of the Company or in the event that the Company does not consummate an initial business
combination within the time period set forth in the Company’s memorandum and articles of association, as the same may be
amended from time to time.


 


Section 2.  Representations and Warranties of the
Company.  As a material inducement to the Sponsor to enter into this Agreement and purchase the Private Placement Warrants,
the Company hereby represents and warrants to the Sponsor (which representations and warranties shall survive each Closing Date)
that:


 


A.  Incorporation
and Corporate Power.  The Company is an exempted company duly incorporated, validly existing and in good standing under
the laws of the Cayman Islands and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably
be expected to have a material adverse effect on the financial condition, operating results or assets of the Company.  The
Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement
and the Warrant Agreement.


 


B.  Authorization;
No Breach.


 


(i)   The execution, delivery
and performance of this Agreement and the Private Placement Warrants have been duly authorized by the Company as of the Closing
Date.  This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with its terms. 
Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Private Placement
Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing
Dates.


 


(ii)  The execution and delivery
by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private Placement Warrants, the
issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment, of and compliance with, the respective
terms hereof and thereof by the Company, do not and will not as of the Closing Dates (a) conflict with or result in a breach
of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security
interest, charge or encumbrance upon the Company’s share capital or assets under, (d) result in a violation of, or (e) require
any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative
or governmental body or agency pursuant to the memorandum and articles of association of the Company (in effect on the date hereof
or as may be amended prior to completion of the contemplated Public Offering), or any material law, statute, rule or regulation
to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any filings
required after the date hereof under federal or state securities laws.


 


C.  Title to
Securities.  Upon issuance in accordance with, and payment pursuant to, and registration in the register of members
of the Company, the terms hereof, the Warrant Agreement and the memorandum and articles of association of the Company, the
Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued as fully paid and
nonassessable. On the date of issuance of the Private Placement Warrants, the Shares issuable upon exercise of the Private
Placement Warrants shall have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the
terms hereof and the Warrant Agreement, the Sponsor will have good title to the Private Placement Warrants and the Shares
issuable upon exercise of such Private Placement Warrants, free and clear of all liens, claims and encumbrances of any kind,
other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer
restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions
of the Sponsor.


 






     


     


    

 


D.  Governmental
Consents.  No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority
is required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by
the Company of any other transactions contemplated hereby.


 


E.  Regulation D
Qualification. Neither the Company nor, to its actual knowledge, any of its officers, directors or beneficial shareholders
of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated pursuant to Rule 506(d) of
Regulation D under the Securities Act of 1933, as amended (the “Securities Act”).


 


Section 3.  Representations and Warranties of the
Sponsor.  As a material inducement to the Company to enter into this Agreement and issue and sell the Private Placement
Warrants to the Sponsor, the Sponsor hereby represents and warrants to the Company, separately but not jointly, (which representations
and warranties shall survive each Closing Date) that:


 


A. Organization and Requisite
Authority.  The Sponsor possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement.


 


B.  Authorization;
No Breach.


 


(i) This Agreement constitutes a valid
and binding obligation of the Sponsor, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’ rights
and to general equitable principles (whether considered in a proceeding in equity or law).


 


(ii) The execution and delivery by
the Sponsor of this Agreement and the fulfillment of and compliance with the terms hereof by the Sponsor do not and shall not as
of each Closing Date conflict with or result in a breach by the Sponsor of the terms, conditions or provisions of any agreement,
instrument, order, judgment or decree to which the Sponsor is subject.


 


C.  Investment Representations.


 


(i)  The Sponsor is acquiring
the Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares issuable upon such exercise (collectively,
the “Securities”), for the Sponsor’s own account, for investment purposes only and not with a view towards,
or for resale in connection with, any public sale or distribution thereof.


 


(ii)  The Sponsor is an “accredited
investor” as such term is defined in Rule 501(a)(3) of Regulation D under the Securities Act and the Sponsor has
not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act.


 


(iii)  The Sponsor understands
that the Securities are being offered and will be sold to it in reliance on specific exemptions from the registration requirements
of the United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and the
Sponsor’s compliance with, the representations and warranties of the Sponsor set forth herein in order to determine the availability
of such exemptions and the eligibility of the Sponsor to acquire such Securities.


 


(iv) The Sponsor decided to enter into
this Agreement not as a result of any general solicitation or general advertising within the meaning of Rule 502(c) under
the Securities Act.


 






     


     


    

 


(v) The Sponsor has been furnished
with all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale
of the Securities which have been requested by the Sponsor.  The Sponsor has been afforded the opportunity to ask questions
of the executive officers and directors of the Company.  The Sponsor understands that its investments in the Securities involves
a high degree of risk and each has sought such accounting, legal and tax advice as it has considered necessary to make an informed
investment decision with respect to the acquisition of the Securities.


 


(vi) The Sponsor understands that no
United States federal or state agency or any other government or governmental agency has passed on or made any recommendation or
endorsement of the Securities or the fairness or suitability of the investment in the Securities by the Sponsor nor have such authorities
passed upon or endorsed the merits of the offering of the Securities.


 


(vii) The Sponsor understands that:
(a) the Securities have not been and are not being registered under the Securities Act or any state securities laws, and may
not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold in reliance
on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the Company
nor any other person is under any obligation to register the Securities under the Securities Act or any state securities laws or
to comply with the terms and conditions of any exemption thereunder.  The Private Placement Warrants will bear a legend and
appropriate “stop transfer” instructions (or an appropriate notation if the warrants are issued in book entry form)
relating to the foregoing. The Sponsor further understands that the Securities and Exchange Commission (the “SEC”)
has taken the position that promoters or affiliates of a blank check company and their transferees, both before and after an initial
business combination, are deemed to be “underwriters” under the Securities Act when reselling the securities of a blank
check company.  Based on that position, Rule 144 adopted pursuant to the Securities Act would not be available for resale
transactions of the Securities until the one-year anniversary following consummation of an initial business combination despite
technical compliance with the requirements of such Rule.


 


(viii) The Sponsor has such knowledge
and experience in financial and business matters, knows of the high degree of risk associated with investments in the securities
of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an investment in the
Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated hereunder for an
indefinite period of time. The Sponsor has adequate means of providing for its current financial needs and contingencies and
will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities. The
Sponsor can afford a complete loss of its investment in the Securities.


 


Section 4.  Conditions of the Sponsor’s Obligations. 
The obligations of the Sponsor to purchase and pay for the Private Placement Warrants are subject to the fulfillment, on or before
each Closing Date, of each of the following conditions:


 


A. Representations and
Warranties.  The representations and warranties of the Company contained in Section 2 shall be true and correct at
and as of such Closing Date as though then made.


 


B. Performance. 
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before such Closing Date.


 


C. No Injunction. 
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.


 


D. Warrant Agreement
and Registration Rights Agreement.  The Company shall have entered into the Warrant Agreement with a warrant agent and
a registration rights agreement, in each case on terms satisfactory to the Sponsor.


 


E. Corporate Consents.
The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance of this
Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants.


 






     


     


    

 


Section 5.  Conditions of the Company’s Obligations. 
The obligations of the Company to the Sponsor under this Agreement are subject to the fulfillment, on or before each Closing Date,
of each of the following conditions:


 


A.  Representations
and Warranties.  The representations and warranties of the Sponsor contained in Section 3 shall be true and correct
at and as of such Closing Date as though then made.


 


B.  Performance. 
The Sponsor shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Sponsor on or before such Closing Date.


 


C.  No Injunction. 
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.


 


D.  Warrant Agreement
and Registration Rights Agreement.  The Company shall have entered into the Warrant Agreement with a warrant agent, and
a registration rights agreement, in each case on terms satisfactory to the Company.


 


Section 6.  Termination.  This Agreement
may be terminated at any time after June 30, 2021 upon the election by either the Company or the Sponsor solely as to itself
upon written notice to the other party if the closing of the Public Offering does not occur prior to such date.


 


Section 7.  Survival of Representations and Warranties. 
All of the representations and warranties contained herein shall survive each Closing Date.


 


Section 8.  Definitions.  Terms used but
not otherwise defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement.


 


Section 9.  Miscellaneous.


 


A.  Successors and
Assigns.  Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or
on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether
so expressed or not.  Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement
without the prior written consent of the other parties hereto, other than assignments by the Sponsor to affiliates thereof.


 


B.  Severability. 
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.


 


C.  Counterparts. 
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement.


 


D.  Descriptive
Headings; Interpretation.  The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a substantive part of this Agreement.  The use of the word “including” in this Agreement shall be by way
of example rather than by limitation.


 


E.  Governing Law. 
This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all purposes shall be construed
in accordance with the internal laws of the State of New York, without regard to the conflicts of laws principles thereof.


 


F.  Amendments. 
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by
all parties hereto.


 


[Signature page follows]


 






     


     


    

 


IN WITNESS WHEREOF, the parties hereto
have executed this Agreement to be effective as of the date first set forth above.


 


	 	COMPANY:
	 	 
	 	KAIROS ACQUISITION CORP.
	 	 
	 	By:	/s/
Peter Bang
	 	 	Name:	Peter Bang
	 	 	Title:	Chief Executive Officer 
	 	 
	 	SPONSOR:
	 	 
	 	KAIROS ALPHA ACQUISITION LLC
	 	 
	 	By:	/s/ Peter Bang
	 	 	Name:	Peter Bang
	 	 	Title:	Managing Member


 


[Signature page to Private Placement
Warrants Purchase Agreement]