Exhibit 10.4 


 


FORWARD PURCHASE AGREEMENT


 


This Forward Purchase
Agreement (this “Agreement”) is entered into as of September 20, 2021, by and between G Squared Ascend I Inc., a
Cayman Islands exempted company (the “Company”), and New Enterprise Associates 15, L.P., a Delaware limited
partnership the “Purchaser”). Capitalized terms not defined in this Agreement shall have the meaning giving such
terms in the Business Combination Agreement (as defined below).


 


WHEREAS, the Company was incorporated
for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination
with one or more businesses (a “Business Combination”);


 


WHEREAS, the Company filed
with the U.S. Securities and Exchange Commission (the “SEC”) a draft registration statement on Form S-1 (the “Registration
Statement”) for its initial public offering (“IPO”) of units (the “Public Units”) at a
price of $10.00 per Public Unit, each comprised of one Class A ordinary share of the Company, par value $0.0001 per share (the “Class A
Share(s)”), and one-fifth of one redeemable warrant, where each whole redeemable warrant is exercisable to purchase one Class A
Share at an exercise price of $11.50 per share (the “Warrant(s)”). Only whole Warrants are exercisable. A holder of
Warrants will not be able to exercise any fraction of a Warrant. The Company did not issue fractional Warrants other than as part of the
Public Units. If, upon the detachment of the Warrants from the Public Units or otherwise, a holder of Warrants would be entitled to receive
a fractional Warrant, the Company shall round down to the nearest whole number the number of Warrants to be issued to such holder;


 


WHEREAS, the Registration
Statement was declared effective on February 4, 2021;


 


WHEREAS, the Company intends
to consummate the Company’s initial Business Combination (the “Business Combination”), pursuant to that certain
Business Combination Agreement, dated as of September 20, 2021 (as may be amended, amended or restated or supplemented from time
to time, the “Business Combination Agreement”), by and among the Company, Horizon Merger Sub Inc., a Delaware corporation
and wholly owned direct subsidiary of the Company, Transfix, Inc., a Delaware corporation (“Transfix”), and Transfix
Holdings, Inc., a Delaware corporation and wholly owned direct subsidiary of Transfix; and


 


WHEREAS, the parties wish
to enter into this Agreement, pursuant to which immediately prior to the closing of the Business Combination (the “Business Combination
Closing”), the Company shall issue and sell, and the Purchaser shall purchase, on a private placement basis, the aggregate (i) number
of forward purchase securities (the “Forward Purchase Securities”), with each Forward Purchase Security consisting
of one Class A Share (the “Forward Purchase Share(s)”) and one-fifth of one Warrant (the “Forward Purchase
Warrant(s)”), and (ii) the aggregate number of Forward Purchase Warrants, in each case, determined pursuant to Section 1(a)(i) hereof
on the terms and conditions set forth herein;


 


NOW, THEREFORE, in consideration
of the premises, representations, warranties and the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:


 


1. Sale and Purchase.


 


(a) Forward Purchase
Securities and Forward Purchase Warrants.


 


(i) The
aggregate number of Forward Purchase Securities and Forward Purchase Warrants that the Company shall be required to issue and sell, and
the Purchaser shall be required to purchase, hereunder, and the aggregate purchase price to be paid for such Forward Purchase Securities
and Forward Purchase Warrants, shall be determined as follows:


 






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A.            After
the Company’s final determination of the aggregate number of SPAC Class A Ordinary Shares redeemed pursuant to the Redemption
Rights (the “Redeemed Shares”) and the aggregate amount payable by the Company with respect to all Redeemed Shares
(the “Redemption Amount”), but in no event later than two (2) Business Days after the redemption date (as set
forth in the Registration Statement), the Company shall deliver a written notice to the Purchaser (such notice, the “Purchase
Notice”) specifying: (I) the Redeemed Shares and the Redemption Amount; (II) the aggregate number of public Class A
Shares purchased by Purchaser or any of its affiliates in transactions after the redemption date (as set forth in the Registration Statement)
and prior to the delivery of the Purchase Notice (the “Acquired Public Shares”) and the aggregate amount paid by Purchaser
and its affiliates with respect to all Acquired Public Shares (the “Acquired Public Share Purchase Price”); (III) the
anticipated date of the Business Combination Closing; (IV) the aggregate number of Forward Purchase Securities and Forward Purchase
Warrants and the aggregate Forward Purchase Price and Warrant Purchase Price, together with evidence of the calculations of such aggregate
amounts reasonably satisfactory to Transfix; and (V) instructions for wiring the Forward Purchase Price and the Warrant Purchase
Price.


 


B.             Subject
to Section 1(a)(i)(D), the aggregate number of Forward Purchase Securities that the Company shall issue and sell, and the Purchaser
shall purchase, in each case, pursuant to this Agreement (the “Final Number of Forward Purchase Securities”), shall
equal: (I) the Committed Amount plus the Additional Amount; multiplied by (II) 0.1. The purchase price for each Forward
Purchase Security purchased and sold pursuant to this Section 1(a)(i)(B) shall equal $10.00.


 


C.             In
addition to the Final Number of Forward Purchase Securities, and subject to Section 1(a)(i)(D), the aggregate number of Forward Purchase
Warrants that the Company shall issue and sell, and the Purchaser shall purchase, in each case, pursuant to this Agreement, shall equal
a number of Forward Purchase Warrants equal to one-fifth of the Acquired Public Shares rounded down to the nearest whole Forward Purchase
Warrant (the “Final Number of Forward Purchase Warrants”). The purchase price for each Forward Purchase Warrant purchased
and sold pursuant to this Section 1(a)(i)(C) shall equal $0.0001 per whole Forward Purchase Warrant (the aggregate amount paid
by Purchaser with respect to all Forward Purchase Warrants purchased and sold pursuant to this Section 1(a)(i)(C), the “Forward
Purchase Warrant Price”).


 


D.            As
used in this Agreement, (I) “Committed Amount” means an amount, which shall in no event be less than zero
dollars ($0.00) or greater than fifty million dollars ($50,000,000), equal to fifty million dollars ($50,000,000) less the Acquired
Public Share Purchase Price; (II) “Additional Amount” means an amount, which shall in no event be less than zero
dollars ($0.00) or greater than fifty million dollars ($50,000,000), equal to the Redemption Amount less the amount, if any, by
which the Acquired Public Share Purchase Price exceeds fifty million dollars ($50,000,000); and (III) “Forward Purchase
Price” means the sum of the Committed Amount plus the Additional Amount. Notwithstanding anything in this Agreement to the contrary,
in no event will the sum of the Forward Purchase Price plus the Acquired Public Share Purchase Price equal an amount greater than
one hundred million dollars ($100,000,000).


 


(ii) Each Forward Purchase
Warrant will have the same terms as each Warrant sold as part of the Public Units in the IPO, and will be subject to the terms and conditions
of the Warrant Agreement, dated as of February 4, 2021, between the Company and Continental Stock Transfer & Trust Company,
as Warrant Agent (the “Warrant Agreement”). Each Forward Purchase Warrant will entitle the holder thereof to purchase
one Class A Share at a price of $11.50 per share, subject to adjustment as described in the Warrant Agreement, and only whole Forward
Purchase Warrants will be exercisable. The Forward Purchase Warrants will become exercisable thirty (30) days after the Business Combination
Closing, and will expire five years after the Business Combination Closing or earlier upon redemption or the liquidation of the Company,
as described in the Warrant Agreement.


 


(iii) The closing of
the sale of the Final Number of Forward Purchase Securities and Final Number of Forward Purchase Warrants, if any (the “FPS Closing”),
shall be held on the same date and concurrently with the Business Combination Closing (such date being referred to as the “Closing
Date”). At least one (1) Business Day prior to the Closing Date, the Purchaser shall deliver to the Company the Forward
Purchase Price for the Final Number of Forward Purchase Securities and the Forward Purchase Warrant Price for the Final Number of Forward
Purchase Warrants, in each case, by wire transfer of U.S. dollars in immediately available funds to the account specified by the Company
in such notice to be held in escrow until the FPS Closing. Immediately prior to the FPS Closing on the Closing Date, (i) the Forward
Purchase Price and the Forward Purchase Warrant Price shall each be released to the Company from escrow automatically and without further
action by the Company or the Purchaser, and (ii) upon such release, the Company shall issue the Final Number of Forward Purchase
Securities and Final Number of Forward Purchase Warrants to the Purchaser in book-entry form, free and clear of any liens or other restrictions
whatsoever (other than those arising under state or federal securities laws, this Agreement, the Registration Rights Agreement (as defined
below), the Sponsor Support agreement or the Surviving Corporation Bylaws, as applicable), registered in the name of the Purchaser (or
its nominee(s)), or to a custodian designated by Purchaser (or its nominee(s)). In the event the Business Combination Closing does not
occur within five (5) Business Days of the scheduled Closing Date, the FPS Closing shall not occur and the Company shall promptly
(but not later than one (1) Business Day thereafter) return the Forward Purchase Price and the Forward Purchase Warrant Price to
the Purchaser. For purposes of this Agreement, “Business Day” means any day, other than a Saturday or a Sunday, that
is neither a legal holiday nor a day on which banking institutions are generally authorized or required by law or regulation to close
in the City of New York, New York.


 






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(b) Delivery of Forward
Purchase Securities.


 


(i) The Company shall
register the Purchaser as the owner of the Final Number of Forward Purchase Securities and Final Number of Forward Purchase Warrants purchased
by the Purchaser hereunder (individually or collectively, the “Securities”) with the Company’s transfer agent
by book entry on or promptly after (but in no event more than two (2) Business Days after) the date of the FPS Closing.


 


(ii) Each register and
book entry for the Securities shall contain a notation, and each certificate (if any) evidencing the Securities shall be stamped or otherwise
imprinted with a legend, in substantially the following form:


 


“THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION,
AND MAY NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT AND LAWS. THE SALE, PLEDGE, HYPOTHECATION OR TRANSFER OF THE SECURITIES REPRESENTED
HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN FORWARD PURCHASE AGREEMENT BY AND AMONG THE HOLDER AND THE COMPANY, COPIES
OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.”


 


(c) Legend Removal.
If the Securities are eligible to be sold without restriction under, and without the Company being in compliance with the current public
information requirements of, Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”), then
at the Purchaser’s request, the Company will, at its sole expense, cause the Company’s transfer agent to remove the legend
set forth in Section 1(b)(ii). In connection therewith, if required by the Company’s transfer agent, the Company will
promptly cause an opinion of counsel to be delivered to and maintained with its transfer agent, together with any other authorizations,
certificates and directions required by the transfer agent that authorize and direct the transfer agent to transfer such Securities without
any such legend; provided, however, that the Company will not be required to deliver any such opinion, authorization or
certificate or direction if it reasonably believes that removal of the legend could result in or facilitate transfers of Securities in
violation of applicable law.


 


(d) Registration Rights.
The Purchaser shall have registration rights with respect to the Securities pursuant to that certain Amended and Restated Registration
Rights Agreement substantially in the form attached hereto as Exhibit A (the “Registration Rights Agreement”)
to be entered into by the Company, Purchaser and certain other parties at the Business Combination Closing.


 


(e) Antitrust Laws.
To the extent required under any Laws that are designed to prohibit, restrict or regulate actions having the purpose or effect of monopolization
or restraint of trade, including the HSR Act (“Antitrust Laws”), each of the Company and Purchaser agrees to promptly
make any required filing or application under Antitrust Laws, as applicable, and with respect to the HSR Act make any required filings
no later than fifteen (15) Business Days after the date of this Agreement. The Company and Purchaser hereto agree to supply as promptly
as reasonably practicable any additional information and documentary material that may be requested pursuant to Antitrust Laws and to
take all other actions necessary, proper or advisable to cause the expiration or termination of the applicable waiting periods or obtain
required approvals, as applicable, under Antitrust Laws as soon as practicable, including by requesting early termination of the waiting
period provided for under the HSR Act.


 






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2.
Representations and Warranties of the Purchaser. The Purchaser represents and warrants to the Company as follows, as of the
date hereof:


 


(a) Organization and
Power. The Purchaser is duly organized, validly existing, and in good standing under the laws of the jurisdiction of incorporation
or organization and has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted.


 


(b) Authorization.
The Purchaser has full power and authority to enter into this Agreement. This Agreement, when executed and delivered by the Purchaser,
will constitute the valid and legally binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms,
except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any other laws
of general application affecting enforcement of creditors’ rights generally, (b) as limited by laws relating to the availability
of specific performance, injunctive relief or other equitable remedies, or (c) to the extent the indemnification provisions contained
in the Registration Rights Agreement may be limited by applicable federal or state securities laws.


 


(c) Governmental Consents
and Filings. No consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with,
any federal, state or local governmental authority is required on the part of the Purchaser in connection with the consummation of the
transactions contemplated by this Agreement.


 


(d) Compliance with
Other Instruments. The execution, delivery and performance by the Purchaser of this Agreement and the consummation by the Purchaser
of the transactions contemplated by this Agreement will not result in any violation or default (i) of any provisions of its organizational
documents, (ii) of any instrument, judgment, order, writ or decree to which it is a party or by which it is bound, (iii) under
any note, indenture or mortgage to which it is a party or by which it is bound, (iv) under any lease, agreement, contract or purchase
order to which it is a party or by which it is bound or (v) of any provision of federal or state statute, rule or regulation
applicable to the Purchaser, in each case (other than clause (i)), which would have a material adverse effect on the Purchaser or its
ability to consummate the transactions contemplated by this Agreement.


 


(e) Purchase Entirely
for Own Account. This Agreement is made with the Purchaser in reliance upon the Purchaser’s representation to the Company, which
by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that the Securities to be acquired by the Purchaser
will be acquired for investment for the Purchaser’s own account, not as a nominee or agent, and not with a view to the resale or
distribution of any part thereof, and that the Purchaser has no present intention of selling, granting any participation in, or otherwise
distributing the same in violation of law. By executing this Agreement, the Purchaser further represents that the Purchaser does not presently
have any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such Person or to
any third Person, with respect to any of the Securities. For purposes of this Agreement, “Person” means an individual,
a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization, any other entity
or any government or any department or agency thereof.


 


(f) Disclosure of Information.
The Purchaser has had an opportunity to discuss the Company’s business, management, financial affairs and the terms and conditions
of the offering of the Securities, as well as the terms of the Company’s IPO and the proposed Business Combination, with the Company’s
management.


 


(g) Restricted Securities.
The Purchaser understands that the offer and sale of the Securities to the Purchaser has not been, and will not be, registered under the
Securities Act, by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other
things, the bona fide nature of the investment intent and the accuracy of the Purchaser’s representations as expressed herein. The
Purchaser understands that the Securities are “restricted securities” under applicable U.S. federal and state securities laws
and that, pursuant to these laws, the Purchaser must hold the Securities indefinitely unless they are registered with the SEC and qualified
by state authorities, or an exemption from such registration and qualification requirements is available. The Purchaser acknowledges that
the Company has no obligation to register or qualify the Securities, or any Class A Shares into which the Securities may be converted
into or exercised for, for resale, except pursuant to the Registration Rights Agreement. The Purchaser further acknowledges that if an
exemption from registration or qualification is available, it may be conditioned on various requirements including, but not limited to,
the time and manner of sale, the holding period for the Securities, and on requirements relating to the Company which are outside of the
Purchaser’s control, and which the Company is under no obligation and may not be able to satisfy. The Purchaser acknowledges that
the Registration Statement was declared effective on February 4, 2021. The Purchaser understands that the offering of the Securities
is not, and is not intended to be, part of the IPO, and that the Purchaser will not be able to rely on the protection of Section 11
of the Securities Act with respect to such Securities.


 






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(h) No Public Market.
The Purchaser understands that no public market now exists for the Securities, and that the Company has made no assurances that a public
market will ever exist for the Securities.


 


(i) High Degree of Risk.
The Purchaser understands that its agreement to purchase the Securities involves a high degree of risk which could cause the Purchaser
to lose all or part of its investment.


 


(j) Accredited Investor.
The Purchaser is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act.


 


(k) No General Solicitation.
Neither the Purchaser, nor any of its officers, directors, employees, agents, stockholders or partners has either directly or indirectly,
including, through a broker or finder (i) to its knowledge, engaged in any general solicitation, or (ii) published any advertisement
in connection with the offer and sale of the Securities.


 


(l) Non-Public Information.
The Purchaser acknowledges its obligations under applicable securities laws with respect to the treatment of material non-public information
relating to the Company.


 


(m) Adequacy of Financing.
The Purchaser has available to it sufficient funds to satisfy its obligations under this Agreement.


 


(n) Affiliation of Certain
FINRA Members. The Purchaser is neither a person associated nor affiliated with UBS Investment Bank or, to its actual knowledge, any
other member of the Financial Industry Regulatory Authority that participated as an underwriter in the IPO.


 


(o) No Other Representations
and Warranties; Non-Reliance. Except for the specific representations and warranties contained in this Section 2 and in
any certificate or agreement delivered pursuant hereto, none of the Purchaser nor any person acting on behalf of the Purchaser nor any
of the Purchaser’s affiliates (the “Purchaser Parties”) has made, makes or shall be deemed to make any other
express or implied representation or warranty with respect to the Purchaser and this offering, and the Purchaser Parties disclaim any
such representation or warranty. Except for the specific representations and warranties expressly made by the Company in Section 3
of this Agreement and in any certificate or agreement delivered pursuant hereto, the Purchaser Parties specifically disclaim that they
are relying upon any other representations or warranties that may have been made by the Company, any person on behalf of the Company or
any of the Company’s affiliates (collectively, the “Company Parties”).


 


3.
Representations and Warranties of the Company. The Company represents and warrants to the Purchaser as follows:


 


(a) Incorporation and
Corporate Power. The Company is duly incorporated and validly existing and in good standing as an exempted company under the laws
of the Cayman Islands and has all requisite corporate power and authority to carry on its business as presently conducted and as proposed
to be conducted. The Company has no subsidiaries.


 


(b) Authorization.
All corporate action required to be taken by the Company’s Board of Directors and shareholders in order to authorize the Company
to enter into this Agreement, and to issue the Securities at the FPS Closing, and the securities issuable upon conversion or exercise
of the Securities, has been taken or will be taken prior to the FPS Closing, as applicable. All action on the part of the shareholders,
directors and officers of the Company necessary for the execution and delivery of this Agreement, the performance of all obligations of
the Company under this Agreement to be performed as of the FPS Closing, and the issuance and delivery of the Securities and the securities
issuable upon conversion or exercise of the Securities has been taken or will be taken prior to the FPS Closing. This Agreement, when
executed and delivered by the Company, shall constitute the valid and legally binding obligation of the Company, enforceable against the
Company in accordance with its terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally, (ii) as
limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies, or (iii) to
the extent the indemnification provisions contained in the Registration Rights Agreement may be limited by applicable federal or state
securities laws.


 






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(c) Valid Issuance of
Securities.


 


(i) The Securities, when
issued, sold and delivered in accordance with the terms and for the consideration set forth in this Agreement, and the Company’s
amended and restated memorandum and articles of association (the “Articles”), and the securities issuable upon conversion
of exercise of the Securities, when issued in accordance with the terms of the Securities and this Agreement, will be validly issued,
fully paid and nonassessable and free of all preemptive or similar rights, taxes, liens, encumbrances and charges with respect to the
issue thereof and restrictions on transfer other than restrictions on transfer specified under this Agreement, the Registration Rights
Agreement, the Sponsor Support Agreement, the Surviving Corporation Bylaws, applicable securities laws and liens or encumbrances created
by or imposed by the Purchaser. Assuming the accuracy of the representations of the Purchaser in this Agreement and subject to the filings
described in Section 3(d) below, the Securities and the securities issuable upon conversion of the Securities will be
issued in compliance with all applicable federal and state securities laws.


 


(ii) No “bad actor”
disqualifying event described in Rule 506(d)(1)(i)-(viii) of the Securities Act (a “Disqualification Event”)
is applicable to the Company or, to the Company’s knowledge, any Company Covered Person (as defined below), except for a Disqualification
Event as to which Rule 506(d)(2)(ii–iv) or (d)(3), is applicable. “Company Covered Person” means, with respect
to the Company as an “issuer” for purposes of Rule 506 promulgated under the Securities Act, any Person listed in the
first paragraph of Rule 506(d)(1).


 


(d) Governmental Consents
and Filings. Assuming the accuracy of the representations and warranties made by the Purchaser in this Agreement, no consent, approval,
order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental
authority is required on the part of the Company in connection with the consummation of the transactions contemplated by this Agreement,
except for filings pursuant to Regulation D of the Securities Act, and applicable state securities laws and pursuant to the Registration
Rights Agreement.


 


(e) Compliance with
Other Instruments. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated
by this Agreement will not result in any violation or default (i) of any provisions of the Company’s Articles or its other
governing documents, (ii) of any instrument, judgment, order, writ or decree to which it is a party or by which it is bound, (iii) under
any note, indenture or mortgage to which it is a party or by which it is bound, (iv) under any lease, agreement, contract or purchase
order to which it is a party or by which it is bound or (v) of any provision of federal or state statute, rule or regulation
applicable to the Company, in each case (other than clause (i)) which would have a material adverse effect on the Company or its ability
to consummate the transactions contemplated by this Agreement.


 


(f) Operations.
As of the date hereof, the Company has not conducted, and prior to the Business Combination Closing the Company will not conduct, any
operations other than organizational activities and activities in connection with offerings of the Securities or the Public Units in the
IPO.


 


(g) Foreign Corrupt
Practices. Neither the Company, nor any director, officer, agent, employee or other Person acting on behalf of the Company has, in
the course of its actions for, or on behalf of, the Company (i) used any corporate funds for any unlawful contribution, gift, entertainment
or other unlawful expenses relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic
government official or employee from corporate funds; (iii) violated or is in violation of any provision of the U.S. Foreign Corrupt
Practices Act of 1977, as amended; or (iv) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful
payment to any foreign or domestic government official or employee.


 






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(h) Compliance with
Anti-Money Laundering Laws. The operations of the Company are and have been conducted at all times in compliance with applicable financial
recordkeeping and reporting requirements and all other applicable U.S. and non-U.S. anti-money laundering laws and regulations, including,
but not limited to, those of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the USA Patriot Act of 2001 and
the applicable money laundering statutes of all applicable jurisdictions, the rules and regulations thereunder and any related or
similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Anti-Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any
arbitrator involving the Company with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the Company, threatened.


 


(i) Absence of Litigation.
There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory
organization or body pending or, to the knowledge of the Company, threatened against or affecting the Company or any of the Company’s
officers or directors, whether of a civil or criminal nature or otherwise, in their capacities as such.


 


(j) No General Solicitation.
Neither the Company, nor any of its officers, directors, employees, agents or shareholders, has either directly or indirectly, including,
through a broker or finder (i) engaged in any general solicitation or (ii) published any advertisement in connection with the
offer and sale of the Securities.


 


(k) No Other Representations
and Warranties; Non-Reliance. Except for the specific representations and warranties contained in this Section 3 and in
any certificate or agreement delivered pursuant hereto, none of the Company Parties has made, makes or shall be deemed to make any other
express or implied representation or warranty with respect to the Company, this offering, the IPO or the Business Combination, and the
Company Parties disclaim any such representation or warranty. Except for the specific representations and warranties expressly made by
the Purchaser in Section 2 of this Agreement and in any certificate or agreement delivered pursuant hereto, the Company Parties
specifically disclaim that they are relying upon any other representations or warranties that may have been made by the Purchaser Parties.


 


4.
FPS Closing Conditions.


 


(a) The obligation of the
Purchaser to purchase the Securities at the FPS Closing under this Agreement shall be subject to the fulfillment, at or prior to the FPS
Closing, of each of the following conditions, any of which, to the extent permitted by applicable laws, may be waived by the Purchaser:


 


(i) The Business Combination
shall be consummated substantially concurrent with, and immediately following, the purchase of Securities;


 


(ii) The representations
and warranties of the Company set forth in Section 3 of this Agreement shall have been true and correct as of the date hereof
and shall be true and correct as of the FPS Closing, as applicable, with the same effect as though such representations and warranties
had been made on and as of such date (other than any such representation or warranty that is made by its terms as of a specified date,
which shall be true and correct as of such specified date), except where the failure to be so true and correct would not have a material
adverse effect on the Company or its ability to consummate the transactions contemplated by this Agreement;


 


(iii) The Company shall
have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required by this Agreement
to be performed, satisfied or complied with by the Company at or prior to the FPS Closing; provided, that, for purposes of this
Section 4(a)(iii), a covenant, agreement or condition of the Company shall only be deemed to have not been performed if the
Company has materially breached such covenant, agreement or condition and failed to cure within five (5) days after written notice
of such breach has been delivered to the Company;


 


(iv) No order shall have
been entered by or with any governmental, regulatory, or administrative authority or any court, tribunal, or judicial, or arbitral body,
and no other legal restraint or prohibition shall be in effect, preventing the purchase by the Purchaser from the Company of the Securities;
and


 


(b) The obligation of the
Company to sell the Securities at the FPS Closing under this Agreement shall be subject to the fulfillment, at or prior to the FPS Closing,
of each of the following conditions, any of which, to the extent permitted by applicable laws, may be waived by the Company:


 






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(i) The Business Combination
shall be consummated substantially concurrent with, and immediately following, the purchase of Securities;


 


(ii) The representations
and warranties of the Purchaser set forth in Section 2 of this Agreement shall have been true and correct as of the date hereof
and shall be true and correct as of the FPS Closing, as applicable, with the same effect as though such representations and warranties
had been made on and as of such date (other than any such representation or warranty that is made by its terms as of a specified date,
which shall be true and correct as of such specified date), except where the failure to be so true and correct would not have a material
adverse effect on the Purchaser or its ability to consummate the transactions contemplated by this Agreement;


 


(iii) The Purchaser shall
have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required by this Agreement
to be performed, satisfied or complied with by the Purchaser at or prior to the FPS Closing; provided, that, for purposes of this
Section 4(b)(iii), a covenant, agreement or condition of the Purchaser shall only be deemed to have not been performed if
the Purchaser has materially breached such covenant, agreement or condition and failed to cure within five (5) days after written
notice of such breach has been delivered to the Purchaser; and


 


(iv) No order shall have
been entered by or with any governmental, regulatory, or administrative authority or any court, tribunal, or judicial, or arbitral body,
and no other legal restraint or prohibition shall be in effect, preventing the purchase by the Purchaser from the Company of the Securities.


 


5.
Termination. This Agreement may be terminated at any time prior to the FPS Closing:


 


(a) by mutual written consent
of Transfix, the Company and the Purchaser; or


 


(b) automatically:


 


(i) upon the valid termination
of the Business Combination Agreement in accordance with its terms; or


 


(ii) if the Company becomes
subject to any voluntary or involuntary petition under the United States federal bankruptcy laws or any state insolvency law, in each
case which is not withdrawn within sixty (60) days after being filed, or a receiver, fiscal agent or similar officer is appointed by a
court for business or property of the Company, in each case which is not removed, withdrawn or terminated within sixty (60) days after
such appointment.


 


In the event of any termination
of this Agreement pursuant to this Section 5, the Purchase Price (and interest thereon, if any), if previously paid, and all
the Purchaser’s funds paid in connection herewith shall be promptly returned to the Purchaser, and thereafter this Agreement shall
forthwith become null and void and have no effect, without any liability on the part of the Purchaser or the Company and their respective
directors, officers, employees, partners, managers, members, or stockholders and all rights and obligations of each party shall cease;
provided, however, that nothing contained in this Section 5 shall relieve either party from liabilities or damages
arising out of any fraud or willful breach by such party of any of its representations, warranties, covenants or agreements contained
in this Agreement.


 


6.
General Provisions.


 


(a) Notices. All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon
the earlier of actual receipt, or (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail
or facsimile (if any) during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s
next Business Day, (c) five (5) Business Days after having been sent by registered or certified mail, return receipt requested,
postage prepaid, or (d) one (1) Business Day after deposit with a nationally recognized overnight courier, freight prepaid,
specifying next Business Day delivery, with written verification of receipt. All communications sent to the Company shall be sent to:


 






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G Squared Ascend I Inc.

205 N Michigan Ave


Suite 3770


Chicago, IL 60601

Attn: Tom Hoban, Chief Financial Officer


 


with a copy to the Company’s counsel at:


 


Goodwin Procter LLP

100 Northern Avenue

Boston, Massachusetts 02210

Attn: Jocelyn M. Arel, Esq.


 


All communications to the Purchaser shall be sent
to the Purchaser’s address as set forth on the signature page hereof, or to such e-mail address, facsimile number (if any)
or address as subsequently modified by written notice given in accordance with this Section 6(a).


 


(b) No Finder’s
Fees. Other than fees (whether deferred or otherwise) payable to UBS Investment Bank, which shall be the responsibility of the Company,
each party represents that it neither is nor will be obligated for any finder’s fee or commission in connection with this transaction.
The Purchaser agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature
of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against such liability
or asserted liability) for which the Purchaser or any of its officers, employees or representatives is responsible. The Company agrees
to indemnify and hold harmless the Purchaser from any liability for any commission or compensation in the nature of a finder’s or
broker’s fee arising out of this transaction (and the costs and expenses of defending against such liability or asserted liability)
for which the Company or any of its officers, employees or representatives is responsible.


 


(c) Survival of Representations
and Warranties. All of the representations and warranties contained herein shall survive the FPS Closing.


 


(d) Entire Agreement.
This Agreement, together with any documents, instruments and writings that are delivered pursuant hereto or referenced herein, constitutes
the entire agreement and understanding of the parties hereto in respect of its subject matter 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. The Original FPA is hereby amended and restated in its entirety; provided, that if this
Agreement is terminated pursuant to Section 5(b)(i)(B), this Agreement shall be null and void and the terms of the Original FPA will
be reinstated.


 


(e) Successors.
All of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are binding upon, and inure to
the benefit of and are enforceable by, the parties hereto and their respective successors. Nothing in this Agreement, express or implied,
is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations
or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. Notwithstanding anything to the contrary
set forth in this Agreement, the Company and the Purchaser hereby acknowledge and agree that Transfix is an express third party beneficiary
of this Agreement. Each of the parties hereto acknowledge and agree that Transfix shall be entitled to seek and obtain equitable relief,
without proof of actual damages, including an injunction or injunctions or order for specific performance to prevent breaches of this
Agreement and to enforce specifically the terms and provisions of this Agreement to cause the Company to cause, or directly cause, the
Purchaser to fund the aggregate Forward Purchase Price and the Forward Purchase Warrant Price and cause the FPS Closing to occur if the
conditions in Section 4 have been satisfied or, to the extent permitted by applicable law, waived.


 


(f) Assignments.
Except as otherwise specifically provided herein, no party hereto may assign either this Agreement or any of its rights, interests, or
obligations hereunder without the prior written consent of the other party. Notwithstanding the foregoing, the Purchaser may assign and
delegate all or a portion of its rights and, obligations to purchase the Securities to one or more other persons or entities upon the
consent of the Company (which consent shall not be unreasonably conditioned, withheld or delayed); provided, however, that no consent
of the Company shall be required if such assignment or delegation is to an affiliate of Purchaser; provided, further, that no such assignment
or delegation shall relieve Purchaser of its obligations hereunder.


 






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(g) Counterparts.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together will constitute
one and the same instrument.


 


(h) Headings. The
section headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or interpretation
of this Agreement.


 


(i) Governing Law.
This Agreement, the entire relationship of the parties hereto, and any dispute between the parties (whether grounded in contract, tort,
statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of New York,
without giving effect to its choice of laws principles.


 


(j) Jurisdiction.
The parties (i) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of New York and to the jurisdiction
of the United States District Court for the Southern District of New York for the purpose of any suit, action or other proceeding arising
out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon
this Agreement except in state courts of New York or the United States District Court for the Southern District of New York, and (c) hereby
waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it
is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution,
that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper
or that this Agreement or the subject matter hereof may not be enforced in or by such court.


 


(k) Waiver of Jury Trial.
The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to this Agreement and the transactions
contemplated hereby.


 


(l) Amendments.
This Agreement may not be amended, modified or waived as to any particular provision, except with the prior written consent of Transfix,
the Company and the Purchaser.


 


(m) Severability.
The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the
validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as applied to any
party hereto or to any circumstance, is adjudged by a governmental authority, arbitrator, or mediator not to be enforceable in accordance
with its terms, the parties hereto agree that the governmental authority, arbitrator, or mediator making such determination will have
the power to modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to delete specific words
or phrases, and in its reduced form, such provision will then be enforceable and will be enforced.


 


(n) Expenses. The
Company will bear its own and the Purchaser’s costs and expenses incurred in connection with the preparation, execution and performance
of this Agreement and the consummation of the transactions contemplated hereby, including all fees and expenses of agents, representatives,
financial advisors, legal counsel and accountants; provided, however, that the Company shall not be required to pay any costs or expenses
of the Purchaser unless and until the Business Combination is consummated. The Company shall be responsible for the fees of its transfer
agent; stamp taxes and all of The Depository Trust Company’s fees associated with the issuance and resale of the Securities and
the securities issuable upon conversion or exercise of the Securities.


 


(o) Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent
or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of
proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement. Any reference
to any federal, state, local, or foreign law will be deemed also to refer to law as amended and all rules and regulations promulgated
thereunder, unless the context requires otherwise. The words “include,” “includes,” and “including”
will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be
construed to include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the
context otherwise requires. The words “this Agreement,” “herein,” “hereof,” “hereby,”
 “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless
expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will have independent
significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact that
there exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity)
which such party hereto has not breached will not detract from or mitigate the fact that such party hereto is in breach of the first representation,
warranty, or covenant.


 






    10


     


    

 


(p) Waiver. No waiver
by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not, may be
deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect in any way
any rights arising because of any prior or subsequent occurrence.


 


(q) Confidentiality.
Except as may be required by law, regulation or applicable stock exchange listing requirements, unless and until the transactions contemplated
hereby and the terms hereof are publicly announced or otherwise publicly disclosed by the Company, the parties hereto shall keep confidential
and shall not publicly disclose the existence or terms of this Agreement.


 


[Signature Page Follows]


 






    11


     


    

 


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


 


	 	PURCHASER:
	 	NeW
    ENterprise associates 15, l.p.
	 	 
	 	By:	/s/ Louis Citron
	 	 	Name: Louis Citron
	 	 	Title: Chief Administrative Officer
	 	 	 
	 	COMPANY:
	 	G SQUARED ASCEND I INC.
	 	 
	 	By:	/s/ Ward Davis
	 	 	Name: Ward Davis
	 	 	Title: Chief Executive Officer


 


[Signature Page to Forward Purchase Agreement]