Exhibit 10.7


 


DT Asia
Investments Limited


100 Park Avenue, 16th Floor


New York, NY 10017


 


June 8, 2014                              


  


DeTiger Holdings Limited





 


RE:Securities Purchase Agreement


 


Ladies and Gentlemen:


 


We are pleased to accept
the offer you (the “Subscriber”) have made to purchase an aggregate of 1,625,000 ordinary shares (the “Shares”)
of no par value per share (the “Ordinary Shares”), up to 225,000 of which Shares are subject to complete
or partial forfeiture (the “forfeiture”) by you if the underwriters of the initial public offering (“IPO”)
of DT Asia Investments Limited, a British Virgin Islands company (the “Company”) do not fully exercise their
over-allotment option (the “Over-allotment Option”). The terms on which the Company is willing to sell the Shares
to the Subscriber, and the Company and the Subscriber’ agreements regarding such Shares, are as follows:


 


1.     Purchase of Shares.
For the aggregate sum of $23,550 (the “Purchase Price”), which the Company acknowledges receiving in cash, the
Company hereby sells and issues to the Subscriber, and the Subscriber hereby purchases from the Company 1,625,000 Ordinary Shares,
for a purchase price of approximately $0.0145 per Share, subject to forfeiture by the Subscriber, on the terms and subject to the
conditions set forth in this Agreement. Concurrently with the Subscriber’s execution of this Agreement, the Company is delivering
to the Subscriber certificate(s) registered in the Subscriber’s names representing the Shares, receipt of which the Subscriber
hereby acknowledges.


 


2.     Representations,
Warranties and Agreements.


 


2.1     Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby
represents and warrants to the Company and agrees with the Company as follows:


 


2.1.1.     No Government
Recommendation or Approval. The Subscriber understands that no United States federal or state agency or similar agency of any
other country has passed upon or made any recommendation or endorsement of the offering of the Shares.


 


2.1.2.     No Conflicts.
The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the transactions contemplated
hereby do not violate, conflict with or constitute a default under (i) the Subscriber’s articles of association, (ii) any
agreement, indenture or instrument to which the Subscriber is a party or (iii) any law, statute, rule or regulation to which the
Subscriber is subject, or any agreement, order, judgment or decree to which the Subscriber is subject.


 






    	 



    	 



    

 


2.1.3.     Organization
and Authority. The Subscriber is a business company duly incorporated, validly existing and in good standing under the
laws of the British Virgin Islands and possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement.


 


2.1.4      Experience,
Financial Capability and Suitability. The Subscriber is sufficiently experienced in financial and business matters to be capable
of evaluating the merits and risks of this investment and to make an informed decision relating thereto. The Subscriber is aware
its investment in the Company is a speculative investment that has limited liquidity, because there may never be an established
market for the Company’s securities. The Subscriber has the financial capability for making the investment and the investment
is a suitable one for the Subscriber. The Subscriber can, without impairing its financial condition, hold the Shares for an indefinite
period of time and can afford a complete loss of the investment. The Subscriber acknowledges that the Company has urged the Subscriber
to seek independent advice from professional advisors relating to the suitability of an investment in the Company and in connection
with this Agreement, and that the Subscriber has sought and received such independent professional advice with respect to such
investment and this Agreement or, after careful consideration, the Subscriber has determined to waive its right to seek and/or
receive such independent professional advice.


 


2.1.5.     Access to
Information. Prior to the execution of this Agreement, the Subscriber has had the opportunity to ask questions of and receive
answers from representatives of the Company concerning an investment in the Company, as well as the finances, operations, business
and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all information so
obtained.


 


2.1.6.     Private Offering.
The Subscriber represents that it is (a) an “accredited investor” as such term is defined in Rule 501(a) of Regulation
D under the Securities Act of 1933, as amended (the “Securities Act”) or (b) not a “U.S. Person”
as defined in Rule 902 of Regulation S (“Regulation S”) under the Securities Act. Subscriber acknowledges the
sale contemplated hereby is being made in reliance on a private placement exemption to “Accredited Investors” within
the meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under state law or to a non-U.S. Person
under Regulation S. Accordingly, the Shares will be “restricted securities” within the meaning of Rule 144(a)(3) under
the Securities Act, and therefore may not be offered, pledged or sold by Subscriber, directly or indirectly, in the United States
without registration under United States federal and state securities laws or an exemption therefrom and Subscriber understands
the certificates representing the Shares will contain a legend in respect of such restrictions. The Subscriber did not decide to
enter into the Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502 under the
Securities Act or as a result of any “directed selling efforts” within the meaning of Rule 902 under Regulation S.


 


2.1.7      Investment
Purposes. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’ own account and
not for the account or benefit of any U.S. Person, and not with a view towards the distribution thereof and Subscriber has no present
arrangement to sell the Shares to or through any person or entity. Subscriber shall not engage in hedging transactions with regard
to the Shares unless in compliance with the Securities Act.


 



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2.1.8.     Restrictions
on Transfer. The Subscriber understands the Shares are being offered in a transaction not involving a public offering within
the meaning of the Securities Act. The Shares have not been registered under the Securities Act, and, if in the future the Subscriber
decides to offer, resell, pledge or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred
only (A) in accordance with the provisions of Regulation S (Rule 901 through 905), (B) pursuant to a registration under the Securities
Act, or (C) pursuant to an available exemption from registration. Subscriber agrees that if any transfer of its Shares or any interest
therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required to deliver to the Company
an opinion of counsel satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees not to resell the
Shares. Subscriber further acknowledges that because the Company is a shell company and Rule 144 may not be available to the Subscriber
for the resale of the Shares until one year following the consummation of a business combination despite technical compliance with
the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.


 


2.2     Company’s
Representations, Warranties and Agreements. To induce the Subscriber to purchase the Shares, the Company hereby represents
and warrants to the Subscriber and agrees with the Subscriber as follows:


 


2.2.1     Organization
and Corporate Power. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of
the British Virgin 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.


 


2.2.2.     No Conflicts.
The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not violate, conflict with or constitute a default under (i) the memorandum and articles of association of the Company,
(ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or regulation
to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject.


 


2.2.3.     Title to
Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will be duly and validly
issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof the Subscriber
will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a)
transfer restrictions hereunder and under the other agreements contemplated hereby, (b) transfer restrictions under federal and
state securities laws, and (c) liens, claims or encumbrances imposed due to the actions of the Subscriber.


 



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3.     Forfeiture of
Shares.


 


3.1.    Partial
or No Exercise of the Over-allotment Option. In the event the Over-allotment Option is not exercised in full, the Subscriber
shall forfeit any and all rights to up to 225,000 Shares (based upon the percentage of the Over-allotment Option not exercised)
such that immediately following such forfeiture, the Subscriber and all other initial shareholders prior to the IPO will own an
aggregate number of Ordinary Shares (not including ordinary shares issuable upon exercise of any warrants or any shares purchased
by Subscribers in the Company’s IPO or in the aftermarket) equal to 20% of the issued and outstanding Ordinary Shares of
the Company immediately following the IPO.


 


3.2.    Termination
of Rights as Shareholder. If any of the Shares are forfeited by the Subscriber in accordance with this Section 3, then after
such time, the Subscriber (or successor in interest), shall no longer have any rights as a holder of such Shares, and the Company
shall take such action as is appropriate to cancel such Shares which may include by way of the compulsory redemption and cancellation
of such Shares for nil consideration. In addition, the Subscriber hereby irrevocably grants the Company a limited power of attorney
for the purpose of effectuating the foregoing and agrees to take any and all action reasonably requested by the Company necessary
to effect any adjustment in this Section 3 (including any such redemption as is referred to herein above).


 


4.     Waiver
of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this Agreement and any
other Company securities purchased on a private placement basis, the Subscriber hereby waives any and all right, title, interest
or claim of any kind in or to any distributions by the Company from the Trust Account (as such term is defined in the Investment
Management Trust Agreement to be entered by and between the Company and the trustee thereunder), in the event of a liquidation
of the Company upon the Company’s failure to timely complete a business combination. For purposes of clarity, in the event
any Subscriber purchases Ordinary Shares in the IPO or in the aftermarket, any additional shares so purchased shall be eligible
to receive their pro rata portion of any liquidating distributions by the Company. However, in no event will the Subscriber have
the right to redeem any Shares, or any Ordinary Shares purchased in the IPO or in the aftermarket, for funds held in the Trust
Account upon the successful completion of a business combination.


 


5.     Restrictions on
Transfer.


 


5.1.    Securities
Law Restrictions. In addition to any restrictions to be contained in the Letter Agreement (as defined in Section 5.5 below),
the Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless,
prior thereto (a) a registration statement on the appropriate form under the Securities Act and applicable state securities laws
with respect to the Shares proposed to be transferred shall then be effective or (b) the Company shall have received an opinion
from counsel reasonably satisfactory to the Company, that such registration is not required because such transaction is exempt
from registration under the Securities Act and the rules promulgated by the Securities and Exchange Commission thereunder and
with all applicable state securities laws.


 






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5.2     Restrictive Legends.
All certificates representing the Shares shall have endorsed thereon legends substantially as follows:


 


“THESE SECURITIES (i) HAVE NOT
BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THESE SECURITIES
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT FILED UNDER
THE SECURITIES ACT, (B) TO A NON-U.S. PERSON IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S
UNDER THE SECURITIES ACT, (C) PURSUANT TO THE RESALE LIMITATIONS SET FORTH IN RULE 905 OF REGULATIONS S UNDER THE SECURITIES ACT,
(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO
ANY OTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED
UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.”


 


“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO A LETTER AGREEMENT AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING
THE TERM OF THE LETTER AGREEMENT, EXCEPT IN ACCORDANCE WITH THE TERMS THEREOF.”


 


5.3.     Additional Shares
or Substituted Securities. In the event of the declaration of a stock dividend, the declaration of an extraordinary dividend
payable in a form other than stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting the Company’s outstanding capital stock without receipt of consideration, any new, substituted or additional
securities or other property which are by reason of such transaction distributed with respect to any Shares subject to this Section
5 or into which such Shares thereby become convertible shall immediately be subject to this Section 5 and Section 3. Appropriate
adjustments to reflect the distribution of such securities or property shall be made to the number and/or class of Shares subject
to this Section 5 and Section 3.


 


5.4     Lock-up.
The Subscriber acknowledges that the Shares will be subject to lock-up provisions (the “Lock-up”) contained
in a Letter Agreement, to be entered into prior to the date of the preliminary prospectus in connection with the IPO between the
Subscriber and the Company (the “Letter Agreement”). Pursuant to the Letter Agreement, the Subscriber shall
not sell, transfer, pledge, hypothecate or otherwise dispose of any or all of 50% of his or her respective Shares until the earlier
of one year after the date of the consummation of the Company’s initial business combination (the “Consummation
Date”) and the date on which the closing price of the Ordinary Shares exceeds $12.50 per share for any 20 trading days
within a 30-trading day period following the Consummation Date (as adjusted for stock splits, stock dividends, reorganizations
and recapitalizations). In addition, the Subscriber shall not sell, transfer, pledge, hypothecate or otherwise dispose of any or
all of the remaining 50% of the Shares until one year after the Consummation Date. Notwithstanding the foregoing, the aforesaid
restrictions shall lapse if, subsequent to the Consummation Date, the Company consummates a subsequent liquidation, merger, stock
exchange 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.


 



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5.5     Registration Rights.
The Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from
the registration requirements of the Securities Act and will become freely tradable only after they are registered pursuant to
a Registration Rights Agreement to be entered into with the Company prior to the closing of the IPO (“Registration Rights
Agreement”). The Subscriber is entitled to make such number of demands that the Company registers the Shares pursuant
to the terms and restrictions as set forth in the Registration Rights Agreement. 


 


6.     Other Agreements.


 


6.1.     Further Assurances.
The Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary to carry
out the intent of this Agreement.


 


6.2     No Obligation as
to Employment.The Company is not by reason of this Agreement obligated to employ, or continue to employ, the Subscriber
in any capacity.


 


6.3.     Notices. All
notices, requests, consents and other communications hereunder shall be in writing, shall be addressed to the receiving party’s
address set forth on the first page of this Agreement or to such other address as a party may designate by notice hereunder, and
shall be either (a) delivered by hand, (b) sent by overnight courier, or (c) sent by certified mail, return receipt requested,
postage prepaid. All notices, requests, consents and other communications hereunder shall be deemed to have been given either (i)
if by hand, at the time of the delivery thereof to the receiving party at the address of such party set forth above, (ii) if sent
by overnight courier, on the next business day following the day such notice is delivered to the courier service, or (iii) if sent
by certified mail, on the (5th) business day following the day such mailing is made.


 


6.4.     Entire Agreement.
This Agreement, together with the Letter Agreement, substantially in the form to be filed as an exhibit to the Company’s
registration statement on Form S-1, embodies the entire agreement and understanding between the Subscriber and the Company with
respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject
matter hereof. No statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement
shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement.


 


6.5.     Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by
all parties hereto.


 


6.6.     Waivers and Consents.
The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by written document
executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or
shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each
such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not
constitute a continuing waiver or consent.


 



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6.7.     Assignment.
The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of
the other party.


 


6.8.     Benefit. All
statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and
shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall
be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as
a third-party beneficiary of this Agreement.


 


6.9.     Governing Law.
This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the
laws of the British Virgin Islands for agreements made and to be wholly performed within such country.


 


6.10.     Severability.
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in
this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent
that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that
such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement
shall nevertheless remain in full force and effect.


 


6.11.     No Waiver of
Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement,
and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party.
No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance
of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the
exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver
of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this
Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other
circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further action in
any circumstances without such notice or demand.


 


6.12.     Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any
other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof
and any investigations made by or on behalf of the parties.


 


6.13.     No
Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial
consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as
to create any liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim
or demand for commission or other compensation by any broker, finder, financial consultant or similar agent claiming to have been
employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such claim.


 






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6.14.     Headings and
Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference only and
shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.


 


    6.15.     Counterparts.
This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being
understood that both parties need not sign the same counterpart.  In the event that any signature is delivered by facsimile
transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.


 


7.     Voting
and Tender of Shares. The Subscriber agrees to vote the Shares as well as any Ordinary Shares acquired in the IPO or the aftermarket
in favor of a business combination that the Company negotiates and presents for approval to the Company’s shareholders and
shall not seek redemption with respect to the Shares. Additionally, the Subscriber agrees not to tender any Share in connection
with a tender offer presented to the Company’s shareholders in connection with an initial business combination negotiated
by the Company. 


 


     8.     Indemnification.
Each party shall indemnify the other and the underwriter of the IPO against any loss, cost or damages (including reasonable attorney’s
fees and expenses) incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in
this Agreement.


 


[Signature Page Follows]


 






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If the foregoing accurately sets forth our
understanding and agreement, please sign the enclosed copy of this agreement and return it to us.


  


	 	Very truly yours,
	 	 
	 	DT ASIA INVESTMENTS LIMITED
	 	 	 
	 	By:





	/s/
                                                                                                                                                                 Winnie Lai Ling Ng





	 	Name:	Winnie Lai
    Ling Ng
	 	Title:	Sole Director


 


Accepted and agreed this


June 8, 2014


  








	DeTiger Holdings Limited	 
	 	 	 
	By:	/s/
                                         Winnie Lai Ling Ng




	 
	Name:	Winnie Lai Ling
Ng	 
	Title:	Sole Director	 


 


 


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