[Form of Warrant Certificate]


 


[FACE]


 


Number


 





 






 


Warrants


 










 






 


THIS WARRANT SHALL BE VOID IF NOT EXERCISED
PRIOR TO


THE EXPIRATION OF THE EXERCISE PERIOD
PROVIDED FOR


IN THE WARRANT AGREEMENT DESCRIBED BELOW


 


Infinity
CROSS BORDER Acquisition Corporation


 A British Virgin Islands business
company


 


CUSIP


 


G4772R119


 


Warrant Certificate


 


     This Warrant Certificate
certifies that                                        ,
or registered assigns, is the registered holder of                     
warrants (the “Warrants”) to purchase ordinary shares, no par value (the “Ordinary Shares”),
of Infinity Cross Border Acquisition Corporation, a British Virgin Island business company (the “Corporation”).
Each Warrant entitles the holder, upon exercise during the period set forth in the Warrant Agreement referred to below, to receive
from the Corporation that number of fully paid and nonassessable Ordinary Shares as set forth below, at the exercise price (the  “Exercise
Price” ) as determined pursuant to the Warrant Agreement, payable in lawful money (or through “cashless
exercise” if permitted by the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate
and payment of the Exercise Price, if applicable, at the office or agency of the Warrant Agent referred to below, subject to the
conditions set forth herein and in the Warrant Agreement. Defined terms used in this Warrant Certificate but not defined herein
shall have the meanings given to them in the Warrant Agreement.


 


     Each Warrant is initially exercisable
for one fully paid and non-assessable Ordinary Share. The number of Ordinary Shares issuable upon exercise of the Warrants is subject
to adjustment upon the occurrence of certain events set forth in the Warrant Agreement.


 


     The initial Exercise Price per
Ordinary Share for any Warrant is equal to $7.00 per share. The Exercise Price is subject to adjustment upon the occurrence of
certain events set forth in the Warrant Agreement.


 


     Subject to the conditions set
forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised by
the end of such Exercise Period, such Warrants shall become void.


 


     Reference is hereby made to the
further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions shall for all purposes
have the same effect as though fully set forth at this place.


 



    	 



    	 



    

 


     This Warrant Certificate shall
not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.


 


     This Warrant Certificate shall
be governed and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles
thereof.


 


	 	INFINITY CROSS BORDER ACQUISITION CORPORATION	 
	 	 	 
	 	By:	/s/	 
	 	 	Name:	 
	 	 	Title:	 


 


	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent	 
	 	 	 
	 	By:	/s/	 
	 	 	Name:	 
	 	 	Title: 	 




 



    	 



    	 



    

 


[Form of Warrant Certificate]


 


[Reverse]


 


     The Warrants evidenced by this
Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive Ordinary Shares
and are issued or to be issued pursuant to a Warrant Agreement dated as of [ ], 2012 (the “Warrant Agreement”),
duly executed and delivered by the Corporation to Continental Stock Transfer & Trust Company, a New York corporation, as warrant
agent (the “Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made
a part of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties
and immunities thereunder of the Warrant Agent, the Corporation and the holders (the words “holders”  or  “holder”  meaning
the Registered Holders or Registered Holder) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof
upon written request to the Corporation. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings
given to them in the Warrant Agreement.


 


     Warrants may be exercised at any
time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this Warrant Certificate
may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly completed
and executed, together with payment of the Exercise Price as specified in the Warrant Agreement (or through “cashless
exercise” if permitted by the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In
the event that upon any exercise of Warrants evidenced hereby the number of Warrants exercised shall be less than the total number
of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate
evidencing the number of Warrants not exercised. No adjustment shall be made for any dividends on any of the Ordinary Shares issuable
upon exercise of this Warrant.


 


     Notwithstanding anything else
in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise: (i) a registration
statement covering the Ordinary Shares to be issued upon exercise is effective under the Securities Act and (ii) a prospectus
thereunder relating to the Ordinary Shares is current, except through “cashless exercise” if permitted
by the Warrant Agreement. Additionally, if the Corporation fails to acquire, engage in a share exchange, share reconstruction and
amalgamation, contractual control arrangement with, purchase all or substantially all of the assets of, or engage in any other
similar business combination with one or more businesses or entities by [           ],
2013 (or ___, 2014 in certain circumstances as provided in the Warrant Agreement), this Warrant shall expire worthless.


 


     The Warrant Agreement provides
that upon the occurrence of certain events the number of the Warrants set forth on the face hereof may, subject to certain conditions,
be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive a fractional interest in an Ordinary
Share, the Corporation shall, upon exercise, round up to the nearest whole number of Ordinary Shares to be issued to the holder
of the Warrant.


 


     Warrant Certificates, when surrendered
at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person or by legal representative
or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant
Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor evidencing
in the aggregate a like number of Warrants.


 


     Upon due presentation for registration
of transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates of
like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this
Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental
charge imposed in connection therewith.


 


The Corporation and the Warrant Agent may
deem and treat the Registered Holder(s) thereof as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation
of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s)
hereof, and for all other purposes, and neither the Corporation nor the Warrant Agent shall be affected by any notice to the contrary.
Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a shareholder of the Corporation.


 


The Corporation may call the Warrant under
certain circumstances as set forth in the Warrant Agreement. 


 



    	 



    	 



    

 


Election to Purchase


 


(To Be Executed Upon Exercise of Warrant)


 


     The undersigned hereby irrevocably
elects to exercise the right, represented by this Warrant Certificate, to receive                     
Ordinary Shares and herewith tenders payment for such shares to the order of Infinity Cross Border Acquisition Corporation (the
“Corporation”) in the amount of $                       in
accordance with the terms hereof. The undersigned requests that a certificate for such shares be registered in the name of                     ,
whose address is                     
and that such shares be delivered to                     
whose address is                     .
If said number of shares is less than all of the Ordinary Shares purchasable hereunder, the undersigned requests that a new Warrant
Certificate representing the remaining balance of such shares be registered in the name of                     ,
whose address is                     ,
and that such Warrant Certificate be delivered to                     ,
whose address is                     .


 


     In the event that the Warrant
has been called for redemption by the Corporation pursuant to Section 6 of the Warrant Agreement and the Corporation
has required cashless exercise pursuant to Section 6.3 of the Warrant Agreement, the number of shares that this Warrant
is exercisable for shall be determined in accordance with subsection 3.3.1(b) and Section 6.3 of the Warrant Agreement.


 


     In the event that the Warrant
is an Insider Warrant that is to be exercised on a “cashless” basis pursuant to subsections 3.3.1(c)
of the Warrant Agreement, the number of shares that this Warrant is exercisable for shall be determined in accordance with subsection
3.3.1(c) of the Warrant Agreement.


 


     In the event that the Warrant
is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant Agreement, the
number of shares that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant
Agreement.


 


     In the event that the Warrant
(as such term is defined in the Warrant Agreement) may be exercised, to the extent allowed by the Warrant Agreement, through cashless
exercise (i) the number of shares that this Warrant is exercisable for would be determined in accordance with the relevant
section of the Warrant Agreement which allows for such cashless exercise and (ii) the holder hereof shall complete the following:
The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless
exercise provisions of the Warrant Agreement, to receive Ordinary Shares. If said number of shares is less than all of the Ordinary
Shares purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate
representing the remaining balance of such shares be registered in the name of ___________, whose address is ____________, and
that such Warrant Certificate be delivered to ___________, whose address is ____________.


 


Date:                    ,
20


	 	 	 
	 	(Signature)	 
	 	 	 
	 	(Address)	 
	 	 	 
	 	(Tax Identification Number)	 


 



    	 



    	 



    







 


Signature Guaranteed:                                        


THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).