Exhibit 10.1


 


SUBSCRIPTION AGREEMENT


 


This SUBSCRIPTION AGREEMENT (this “Subscription
Agreement”) is entered into on June 3, 2018, by and among Osprey Energy Acquisition Corp., a Delaware corporation (the
“Issuer”), and the subscriber party set forth on the signature page hereto (“Subscriber”).


 


WHEREAS, the Issuer has entered into a Contribution
Agreement, in the form attached as Exhibit A hereto, by and among the Issuer, Royal Resources L.P., a Delaware limited partnership
(“Royal LP”), Royal Resources GP L.L.C., a Delaware limited liability company (“Royal GP”,
and collectively with Royal LP, “Royal”), Noble Royalties Acquisition Co., LP, a Delaware limited partnership
(“NRAC”), Hooks Ranch Holdings LP, a Delaware limited partnership (“Hooks Holdings”), DGK
ORRI Holdings, LP, a Delaware limited partnership (“DGK”), DGK ORRI GP LLC, a Delaware limited liability company
(“DGK GP”), Hooks Holdings Company GP, LLC, a Delaware limited liability company (“Hooks GP”
and together with NRAC, Hooks Holdings, DGK and DGK GP, the “Contributors” and each a “Contributor”),
(the “Contribution Agreement”) whereby the Issuer will acquire all
of the mineral interests, royalty and overriding royalty assets of Royal on the terms and subject to the conditions set forth therein
(the “Transactions”);


 


WHEREAS, to finance a portion of the Transactions,
Subscriber desires to subscribe for and purchase from the Issuer that number of shares of the Issuer’s Class A common
stock, par value $0.0001 per share (the “Class A Shares”), set forth on the signature page hereto (the
“Acquired Shares”) for a purchase price of $10.00 per share and an aggregate purchase price set forth on the
signature page hereto (the “Purchase Price”), and the Issuer desires to issue and sell to Subscriber the Acquired
Shares in consideration of the payment of the Purchase Price by or on behalf of Subscriber to the Issuer on or prior to the Closing
(as defined below); and


 


WHEREAS, to finance a portion of the Transactions,
certain other “accredited investors” (as such term is defined in Rule 501 under the Securities Act of 1933, as amended
(the “Securities Act”)), have (severally and not jointly) entered into separate subscription agreements (the
“Other Subscription Agreements”) with the Issuer on the same terms set forth in this Subscription Agreement,
pursuant to which such investors have agreed to purchase Class A Shares on the Closing Date at the Purchase Price; and


 


WHEREAS, the aggregate amount of Class A
Shares to be sold by Issuer pursuant to this Subscription Agreement and the Other Subscription Agreements equals 11,480,000 Class
A Shares.


 


NOW, THEREFORE, in consideration of the
foregoing and the mutual representations, warranties and covenants, and subject to the conditions, herein contained, and intending
to be legally bound hereby, the parties hereto hereby agree as follows:


 


1. 
Subscription. Subject to the terms and conditions hereof, Subscriber hereby agrees to subscribe for and purchase,
and the Issuer hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, the Acquired Shares (such
subscription and issuance, the “Subscription”).


 






     


     


    

 


2. 
Closing.


 


a. 
The closing of the Subscription contemplated hereby (the “Closing”) is contingent upon the substantially
concurrent consummation of the Transactions and shall occur immediately prior thereto. Not less than five (5) business days
prior to the scheduled closing date of the Transactions (the “Closing Date”), the Issuer shall provide written
notice to Subscriber (the “Closing Notice”) of such Closing Date. On the Closing Date, (i) the Issuer shall
deliver to Subscriber (1) the Acquired Shares in certificated or book entry form (at Subscriber’s election), free and
clear of any liens or other restrictions whatsoever (other than those arising under state or federal securities laws), in the name
of Subscriber (or its nominee in accordance with its delivery instructions) or to a custodian designated by Subscriber, as applicable
and (2) a copy of the records of the Issuer’s transfer agent (the “Transfer Agent”) showing Subscriber
as the owner of the Acquired Shares on and as of the Closing Date and (ii) Subscriber shall deliver to the Issuer on the Closing
Date the Purchase Price for the Acquired Shares by wire transfer of U.S. dollars in immediately available funds to the account
specified by the Issuer in the Closing Notice. In the event the closing of the Transactions does not occur within one (1) business
day of the Closing, the Issuer shall promptly (but not later than one (1) business day thereafter) return the Purchase Price
to Subscriber by wire transfer of U.S. dollars in immediately available funds to the account specified by Subscriber, and any book
entries or share certificates shall be deemed cancelled and any share certificates shall be promptly (but not later than one (1) business
day thereafter) returned to the Issuer.


 


b. 
The Closing shall be subject to the conditions that, on the Closing Date:


 


(i) 
the representations and warranties made by Issuer (other
than the representations and warranties set forth in Section 3(b), Section 3(c) and Section 3(h)) and
Subscriber in this Subscription Agreement shall be true and correct in all material respects as of the Closing Date (other
than those representations and warranties expressly made as of an earlier date, which shall be true and correct in all material
respects as of such date), and the representations and warranties made by Issuer set forth in Section 3(b), Section 3(c)
and Section 3(h) shall be true and correct in all respects as of the Closing Date (other than those representations and
warranties expressly made as of an earlier date, which shall be true and correct in all respects as of such date), in each case
without giving effect to the consummation of the Transactions;


 


(ii) 
solely with respect to Subscriber, the Issuer shall have performed, satisfied and complied in all material respects
with all covenants, agreements and conditions required by this Subscription Agreement to be performed, satisfied or complied with
by it at or prior to the Closing;


 


(iii) 
there shall not be any law or order of any governmental authority having jurisdiction restraining, enjoining or otherwise
prohibiting or making illegal the consummation of the transactions contemplated by this Subscription Agreement;


 


(iv) 
no suspension of the qualification of the Acquired Shares for offering or sale or trading in any jurisdiction, or
initiation or threatening of any proceedings for any of such purposes, shall have occurred;


 






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(v) 
solely with respect to Subscriber, the Contribution Agreement shall not have been amended to materially adversely
affect Subscriber; it being acknowledged that any amendment to increase the Contribution Price (as defined in the Contribution
Agreement) shall be deemed to materially adversely affect Subscriber;


 


(vi) 
the Debt Financing (as defined in the Contribution Agreement) shall not exceed $100 million; and


 


(vii) 
all conditions precedent to the closing of the Transactions, including the approval of the Issuer’s stockholders
as set forth in the Contribution Agreement, shall have been satisfied or waived (other than those conditions that may only be satisfied
at the closing of the Transactions, but subject to satisfaction of such conditions as of the closing of the Transactions).


 


c. 
At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional actions
as the parties reasonably may deem necessary in order to consummate the Subscription as contemplated by this Subscription Agreement.


 


3. 
Issuer Representations and Warranties. The Issuer represents and warrants that:


 


a. 
The Issuer has been duly incorporated and is validly existing as a corporation in good standing under the laws of
the State of Delaware, with corporate power and authority to own, lease and operate its properties and conduct its business as
presently conducted and to enter into, deliver and perform its obligations under this Subscription Agreement.


 


b. 
The Acquired Shares have been duly authorized and, when issued and delivered to Subscriber against full payment for
the Acquired Shares in accordance with the terms of this Subscription Agreement and registered with the Transfer Agent, the Acquired
Shares will be validly issued, fully paid and non-assessable and will not have been issued in violation of or subject to any preemptive
or similar rights created under the Issuer’s certificate of incorporation and bylaws or under the laws of the State of Delaware.


 


c. 
This Subscription Agreement has been duly authorized, executed and delivered by the Issuer and is enforceable against
it in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, reorganization,
fraudulent conveyance, arrangement, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles
of equity, whether considered at law or equity.


 


d. 
The execution, delivery and performance of this Subscription Agreement, including the issuance and sale of the Acquired
Shares and the consummation of the other transactions contemplated hereby, will not conflict with or result in a breach or violation
of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge
or encumbrance upon any of the property or assets of the Issuer pursuant to the terms of (i) any indenture, mortgage, deed
of trust, loan agreement, lease, license or other agreement or instrument to which the Issuer is a party or by which the Issuer
is bound or to which any of the property or assets of the Issuer is subject; (ii) the organizational documents of the Issuer;
or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign,
having jurisdiction over the Issuer or any of its properties that, in the case of clauses (i) and (iii), would reasonably be expected
to have a material adverse effect on the business, properties, assets, liabilities, operations, condition (including financial
condition), stockholders’ equity or results of operations of the Issuer or materially and adversely affect the validity of
the Acquired Shares or the legal authority or ability of the Issuer to perform in any material respects its obligations hereunder
(a “Material Adverse Effect”).


 






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e. 
Other than the Issuer’s Class B common stock, par value $0.0001 per share (the “Class B Shares”),
pursuant to the terms of the Issuer’s certificate of incorporation, there are no securities or instruments issued by or to
which the Issuer is a party containing anti-dilution or similar provisions that will be triggered by the issuance of (i) the
Acquired Shares or (ii) the shares to be issued pursuant to any Other Subscription Agreement that have not been or will not
be validly waived on or prior to the Closing Date.


 


f. 
The Issuer is not in default or violation (and no event has occurred which, with notice or the lapse of time or both,
would constitute a default or violation) of any term, condition or provision of (i) the organizational documents of the Issuer,
(ii) any loan or credit agreement, note, bond, mortgage, indenture, lease or other agreement, permit, franchise or license
to which, as of the date of this Subscription Agreement, the Issuer is a party or by which the Issuer’s properties or assets
are bound or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic
or foreign, having jurisdiction over the Issuer or any of its properties, except, in the case of clauses (ii) and (iii), for
defaults or violations that have not had and would not be reasonably likely to have, individually or in the aggregate, a Material
Adverse Effect.


 


g. 
The Issuer is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make
any filing or registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization
or other person in connection with the execution, delivery and performance by the Issuer of this Subscription Agreement (including,
without limitation, the issuance of the Acquired Shares), other than (i) the filing with the Securities and Exchange Commission
(the “Commission”) of the Registration Statement (as defined below), (ii) filings required by applicable state
securities laws, (iii) the filing of a Notice of Exempt Offering of Securities on Form D with the Commission under Regulation
D of the Securities Act, (iv) the filings required in accordance with Section 10(o) of this Subscription Agreement;
(v) those required by the NASDAQ Capital Market (“NASDAQ”), including with respect to obtaining approval
of the Issuer’s stockholders, and (vi) the failure of which to obtain would not be reasonably likely to have, individually
or in the aggregate, a Material Adverse Effect.


 


h. 
As of the date of this Subscription Agreement, the authorized capital stock of the Issuer consists of (i) 1,000,000
shares of preferred stock, par value $0.0001 per share (“Preferred Stock”) and (ii) 145,000,000 shares of common
stock, par value $0.0001 per share (the “Common Stock”), including (1) 125,000,000 Class A Shares and (2) 20,000,000
Class B Shares. As of the date of this Subscription Agreement, (i) no shares of Preferred Stock are issued and outstanding,
(ii) 27,500,000 Class A Shares are issued and outstanding, (iii) 6,875,000 Class B Shares are issued and outstanding
and (iv) 13,750,000 redeemable warrants and 7,500,000 private placement warrants are outstanding.


 






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i. 
The Issuer has not received any written communication from a governmental entity that alleges that the Issuer is
not in compliance with or is in default or violation of any applicable law, except where such non-compliance, default or violation
would not, individually or in the aggregate, be reasonably likely to have a Material Adverse Effect.


 


j. 
The issued and outstanding Class A Shares are registered pursuant to Section 12(b) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), and are listed for trading on NASDAQ under the symbol “OSPR”.
There is no suit, action, proceeding or investigation pending or, to the knowledge of the Issuer, threatened against the Issuer
by NASDAQ or the Commission with respect to any intention by such entity to deregister the Class A Shares or prohibit or terminate
the listing of the Class A Shares on NASDAQ. The Issuer has taken no action that is designed to terminate the registration
of the Class A Shares under the Exchange Act.


 


k. 
Assuming the accuracy of Subscriber’s representations and warranties set forth in Section 4 of
this Subscription Agreement, no registration under the Securities Act is required for the offer and sale of the Acquired Shares
by the Issuer to Subscriber.


 


l. 
Neither the Issuer nor any person acting on its behalf has engaged or will engage in any form of general solicitation
or general advertising (within the meaning of Regulation D of the Securities Act) in connection with any offer or sale of the Acquired
Shares.


 


m. 
The Issuer has not entered into any other agreement with any subscriber to the Other Subscription Agreements or any
other investor to purchase Class A Shares on terms (economic or otherwise) more favorable to such subscriber or investor than as
set forth in this Subscription Agreement.


 


n. 
The Issuer has made available to Subscriber (including via the Commission’s EDGAR system) a copy of each form,
report, statement, schedule, prospectus, proxy, registration statement and other document, if any, filed by the Issuer with the
Commission since its initial registration of the Class A Shares (the “SEC Documents”). As of their respective
filing dates, the SEC Documents complied in all material respects with the requirements of the Exchange Act applicable to the Issuer
and the rules and regulations of the Commission promulgated thereunder applicable to the SEC Documents. None of the SEC Documents
filed under the Exchange Act contained, when filed or, if amended, as of the date of such amendment with respect to those disclosures
that are amended, any untrue statement of a material fact or omitted to state a material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided,
that the Issuer makes no such representation or warranty with respect to any information relating to Royal or any of its affiliates
included in any SEC Document or filed as an exhibit thereto. The Issuer has timely filed each report, statement, schedule, prospectus,
and registration statement that the Issuer was required to file with the Commission since its inception. There are no material
outstanding or unresolved comments in comment letters from the Commission Staff with respect to any of the SEC Documents.


 


o. 
Except for such matters as have not had and would not be reasonably likely to have, individually or in the aggregate,
a Material Adverse Effect, there is no (i) action, suit, claim or other proceeding, in each case by or before any governmental
authority pending, or, to the knowledge of the Issuer, threatened against the Issuer or (ii) judgment, decree, injunction,
ruling or order of any governmental entity outstanding against the Issuer.


 






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p. 
Except for placement fees payable to the Agent (as defined herein), the Issuer has not paid, and is not obligated
to pay, any brokerage, finder’s or other fee or commission in connection with its issuance and sale of the Acquired Shares,
including, for the avoidance of doubt, any fee or commission payable to any stockholder or affiliate of the Issuer.


 


q. 
Except as provided in this Subscription Agreement and the Other Subscription Agreements, none of the Issuer, its
subsidiaries or any of their affiliates, nor any person acting on their behalf has, directly or indirectly, made any offers or
sales of any security or solicited any offers to buy any security, under circumstances that would require registration of the issuance
of any of the Acquired Shares under the Securities Act, whether through integration with prior offerings or otherwise.


 


r. 
The Issuer and its board of directors have taken all necessary action, if any, in order to render inapplicable any
control share acquisition, interested shareholder, business combination, poison pill (including, without limitation, any distribution
under a rights agreement) or other similar anti-takeover provision under the Certificate of Incorporation, Bylaws or other organizational
documents or the laws of the jurisdiction of its formation which is or could become applicable to Subscriber as a result of the
Issuer’s issuance of the Acquired Shares and Subscriber’s ownership of the Acquired Shares. The Issuer and its board
of directors have taken all necessary action, if any, in order to render inapplicable any shareholder rights plan or similar arrangement
relating to accumulations of beneficial ownership of shares of Common Stock or a change in control of the Issuer or any of its
subsidiaries.


 


s. 
Neither the Issuer nor any of its subsidiaries has taken any steps to seek protection pursuant to any law or statute
relating to bankruptcy, insolvency, reorganization, receivership, liquidation or winding up, nor does the Issuer or any subsidiary
have any knowledge or reason to believe that any of their respective creditors intend to initiate involuntary bankruptcy proceedings
or any actual knowledge of any fact which would reasonably lead a creditor to do so. The Issuer and its subsidiaries, individually
and on a consolidated basis, are not as of the date hereof, and after giving effect to the transactions contemplated hereby to
occur at the Closing, will not be Insolvent (as defined below). For purposes hereof, “Insolvent” means, with
respect to any person, (i) the present fair saleable value of such person’s assets is less than the amount required to pay
such person’s total indebtedness, (ii) such person is unable to pay its debts and liabilities, subordinated, contingent or
otherwise, as such debts and liabilities become absolute and matured, (iii) such person intends to incur or believes that it will
incur debts that would be beyond its ability to pay as such debts mature or (iv) such person has unreasonably small capital with
which to conduct the business in which it is engaged as such business is now conducted and is proposed to be conducted.


 






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t. 
Except for discussions specifically regarding the offer and sale of the Acquired Shares, the Issuer confirms that
neither it nor any other person acting on its behalf has provided Subscriber or its agents or counsel with any information that
constitutes or could reasonably be expected to constitute material, non-public information concerning the Issuer or any of its
subsidiaries, other than with respect to the Transactions and the transactions contemplated by this Subscription Agreement. The
Issuer understands and confirms that Subscriber will rely on the foregoing representations in effecting transactions in securities
of the Issuer. Each press release issued by the Issuer or any of its subsidiaries during the twelve (12) months preceding the date
of this Subscription Agreement did not at the time of release contain any untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading. Except with respect to the Transactions and the transactions contemplated by this Subscription
Agreement and the Other Subscription Agreements, no event or circumstance has occurred which, under applicable law, rule or regulation,
requires public disclosure at or before the date hereof or announcement by the Issuer but which has not been so publicly disclosed.


 


u. 
The Issuer acknowledges and agrees that, notwithstanding anything herein to the contrary, including, without limitation,
Section 4(e) of this Subscription Agreement, the Acquired Shares may be pledged by Subscriber in connection with a bona
fide margin agreement, which shall not be deemed to be a transfer, sale or assignment of the Acquired Shares hereunder, and Subscriber
effecting a pledge of Securities shall not be required to provide the Issuer with any notice thereof or otherwise make any delivery
to the Issuer pursuant to this Subscription Agreement; provided that Subscriber and its pledgee shall be required to comply with
the provisions of Section 4(e) hereof in order to effect a sale, transfer or assignment of Acquired Shares to such pledgee.
The Issuer hereby agrees to execute and deliver such documentation as a pledgee of the Acquired Shares may reasonably request in
connection with a pledge of the Acquired Shares to such pledgee by Subscriber.


 


4. 
Subscriber Representations and Warranties. Subscriber represents and warrants that:


 


a. 
Subscriber has been duly formed or incorporated and is validly existing in good standing under the laws of its jurisdiction
of incorporation or formation, with power and authority to enter into, deliver and perform its obligations under this Subscription
Agreement.


 


b. 
This Subscription Agreement has been duly authorized, executed and delivered by Subscriber and is enforceable against
it in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, reorganization,
fraudulent conveyance, arrangement, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles
of equity, whether considered at law or equity.


 


c. 
The execution, delivery and performance by Subscriber of this Subscription Agreement, including the consummation
of the transactions contemplated hereby, will not conflict with or result in a breach or violation of any of the terms or provisions
of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property
or assets of Subscriber or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan
agreement, lease, license or other agreement or instrument to which Subscriber or any of its subsidiaries is a party or by which
Subscriber or any of its subsidiaries is bound or to which any of the property or assets of Subscriber or any of its subsidiaries
is subject; (ii) the organizational documents of Subscriber; or (iii) any statute or any judgment, order, rule or regulation
of any court or governmental agency or body, domestic or foreign, having jurisdiction over Subscriber or any of its subsidiaries
or any of their respective properties that, in the case of clauses (i) and (iii), would reasonably be expected to have a material
adverse effect on the legal authority or ability of the Subscriber to perform in any material respects its obligations hereunder.


 






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d. 
Subscriber (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities
Act) or an institutional “accredited investor” (within the meaning of Rule 501(a) under the Securities Act) satisfying
the applicable requirements set forth on Schedule A, (ii) is acquiring the Acquired Shares only for its own account
and not for the account of others, or if Subscriber is subscribing for the Acquired Shares as a fiduciary or agent for one or more
investor accounts, each owner of such account is a “qualified institutional buyer” (as defined in Rule 144A under the
Securities Act) or an institutional “accredited investor” (within the meaning of Rule 501(a) under the Securities Act)
and Subscriber has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements,
representations and agreements herein on behalf of each owner of each such account, and (iii) is not acquiring the Acquired
Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and
shall provide the requested information on Schedule A following the signature page hereto). Subscriber is not an entity
formed for the specific purpose of acquiring the Acquired Shares, unless such newly formed entity is an entity in which all of
the equity owners are “accredited investors” (within the meaning of Rule 501(a) under the Securities Act.


 


e. 
Subscriber understands that the Acquired Shares are being offered in a transaction not involving any public offering
within the meaning of the Securities Act and that the Acquired Shares have not been registered under the Securities Act. Subscriber
understands that the Acquired Shares may not be resold, transferred, pledged or otherwise disposed of by Subscriber absent an effective
registration statement under the Securities Act, except (i) to the Issuer or a subsidiary thereof, (ii) to non-U.S. persons
pursuant to offers and sales that occur in an “offshore transaction” within the meaning of Regulation S under the Securities
Act, (iii) pursuant to Rule 144 under the Securities Act, provided that all of the applicable conditions thereof have been
met or (iv) pursuant to another applicable exemption from the registration requirements of the Securities Act, and that any
certificates or book-entry records representing the Acquired Shares shall contain a legend to such effect. Subscriber acknowledges
that the Acquired Shares will not be eligible for resale pursuant to Rule 144A promulgated under the Securities Act. Subscriber
understands and agrees that the Acquired Shares will be subject to transfer restrictions and, as a result of these transfer restrictions,
Subscriber may not be able to readily resell the Acquired Shares and may be required to bear the financial risk of an investment
in the Acquired Shares for an indefinite period of time. Subscriber understands that it has been advised to consult legal counsel
prior to making any offer, resale, pledge or transfer of any of the Acquired Shares.


 


f. 
Subscriber understands and agrees that Subscriber is purchasing the Acquired Shares directly from the Issuer. Subscriber
further acknowledges that there have been no representations, warranties, covenants and agreements made to Subscriber by the Issuer
or any of its officers, directors or representatives, expressly or by implication, other than those representations, warranties,
covenants and agreements included in this Subscription Agreement.


 






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g. 
Subscriber represents and warrants that its acquisition and holding of the Acquired Shares will not constitute or
result in a non-exempt prohibited transaction under section 406 of the Employee Retirement Income Security Act of 1974, as amended,
section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), or any applicable similar law.


 


h. 
In making its decision to purchase the Acquired Shares, Subscriber represents that it has relied solely upon independent
investigation made by Subscriber. Subscriber acknowledges and agrees that Subscriber has received such information as Subscriber
deems necessary in order to make an investment decision with respect to the Acquired Shares, including with respect to the Issuer
and the Transactions. Subscriber represents and agrees that Subscriber and Subscriber’s professional advisor(s), if any,
have had the full opportunity to ask such questions, receive such answers and obtain such information as Subscriber and such Subscriber’s
professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Acquired Shares. Subscriber
acknowledges and agrees that it has not relied on the Agent (as defined below) or any of the Agent’s affiliates with respect
to its decision to purchase the Acquired Shares.


 


i. 
Subscriber became aware of this offering of the Acquired Shares solely by means of direct contact between Subscriber
and the Issuer or by means of contact from Credit Suisse Securities (USA) LLC, acting as placement agent for the Issuer (the “Agent”),
and the Acquired Shares were offered to Subscriber solely by direct contact between Subscriber and the Issuer or by contact between
Subscriber and the Agent. Subscriber did not become aware of this offering of the Acquired Shares, nor were the Acquired Shares
offered to Subscriber, by any other means. Subscriber acknowledges that the Issuer represents and warrants that the Acquired Shares
(i) were not offered by any form of general advertising or, to its knowledge, general solicitation and (ii) to its knowledge
are not being offered in a manner involving a public offering under, or in a distribution in violation of, the Securities Act,
or any state securities laws.


 


j. 
Subscriber acknowledges that it is aware that there are substantial risks incident to the purchase and ownership
of the Acquired Shares. Subscriber has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of an investment in the Acquired Shares, and Subscriber has sought such accounting, legal and tax advice as
Subscriber has considered necessary to make an informed investment decision.


 


k. 
Alone, or together with any professional advisor(s), Subscriber represents and acknowledges that Subscriber has adequately
analyzed and fully considered the risks of an investment in the Acquired Shares and determined that the Acquired Shares are a suitable
investment for Subscriber and that Subscriber is able at this time and in the foreseeable future to bear the economic risk of a
total loss of Subscriber’s investment in the Issuer. Subscriber acknowledges specifically that a possibility of total loss
exists.


 


l. 
Subscriber understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering
of the Acquired Shares or made any findings or determination as to the fairness of this investment.


 






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m. 
Subscriber represents and warrants that Subscriber is not (i) a person or entity named on the List of Specially
Designated Nationals and Blocked Persons, the Executive Order 13599 List, the Foreign Sanctions Evaders List, or the Sectoral Sanctions
Identification List, each of which is administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”),
or any other Executive Order issued by the President of the United States and administered by OFAC (collectively “OFAC
Lists”), (ii) owned or controlled by, or acting on behalf of, a person, that is named on an OFAC List; (iii) organized,
incorporated, established, located, resident or born in, or a citizen, national, or the government, including any political subdivision,
agency, or instrumentality thereof, of, Cuba, Iran, North Korea, Syria, the Crimea region of Ukraine, or any other country or territory
embargoed or subject to substantial trade restrictions by the United States, (iv) a Designated National as defined in the
Cuban Assets Control Regulations, 31 C.F.R. Part 515, or (v) a non-U.S. shell bank or providing banking services indirectly
to a non-U.S. shell bank (collectively, a “Prohibited Investor”). Subscriber agrees to provide law enforcement
agencies, if requested thereby, such records as required by applicable law, provided that Subscriber is permitted to do so under
applicable law. Subscriber represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C. section
5311 et seq.) (the “BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT Act”),
and its implementing regulations (collectively, the “BSA/PATRIOT Act”), that Subscriber maintains policies and
procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. Subscriber also represents that,
to the extent required, it maintains policies and procedures reasonably designed to ensure compliance with OFAC-administered sanctions
programs, including for the screening of its investors against the OFAC Lists. Subscriber further represents and warrants that,
to the extent required, it maintains policies and procedures reasonably designed to ensure that the funds held by Subscriber and
used to purchase the Acquired Shares were legally derived.


 


n. 
If Subscriber is an employee benefit plan that is subject to Title I of the Employee Retirement Income Security Act
of 1974, as amended (“ERISA”), a plan, an individual retirement account or other arrangement that is subject
to section 4975 of the Code or an employee benefit plan that is a governmental plan (as defined in section 3(32) of ERISA), a church
plan (as defined in section 3(33) of ERISA), a non-U.S. plan (as described in section 4(b)(4) of ERISA) or other plan that is not
subject to the foregoing but may be subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations
that are similar to such provisions of ERISA or the Code (collectively, “Similar Laws”), or an entity whose
underlying assets are considered to include “plan assets” of any such plan, account or arrangement (each, a “Plan”)
subject to the fiduciary or prohibited transaction provisions of ERISA or section 4975 of the Code, Subscriber represents and warrants
that (i) neither Issuer, nor any of its respective affiliates (the “Transaction Parties”) has acted
as the Plan’s fiduciary, or has been relied on for advice, with respect to its decision to acquire and hold the Acquired
Shares, and none of the Transaction Parties shall at any time be relied upon as the Plan’s fiduciary with respect to any
decision to acquire, continue to hold or transfer the Acquired Shares; (ii) the decision to invest in the Acquired Shares
has been made at the recommendation or direction of an “independent fiduciary” (“Independent Fiduciary”)
within the meaning of US Code of Federal Regulations 29 C.F.R. section 2510.3 21(c), as amended from time to time (the “Fiduciary
Rule”) who is (1) independent of the Transaction Parties; (2) is capable of evaluating investment risks independently,
both in general and with respect to particular transactions and investment strategies (within the meaning of the Fiduciary Rule);
(3) is a fiduciary (under ERISA and/or section 4975 of the Code) with respect to Subscriber’s investment in the Acquired
Shares and is responsible for exercising independent judgment in evaluating the investment in the Acquired Shares; and (4) is
aware of and acknowledges that (A) none of the Transaction Parties is undertaking to provide impartial investment advice,
or to give advice in a fiduciary capacity, in connection with the purchaser’s or transferee’s investment in the Acquired
Shares, and (B) the Transaction Parties have a financial interest in the purchaser’s investment in the Acquired Shares
on account of the fees and other remuneration they expect to receive in connection with transactions contemplated by this Subscription
Agreement.


 






    	 	-10-	 



     


    

 


o. 
Subscriber has, and at the Closing will have, sufficient funds to pay the Purchase Price pursuant to Section 2(a).


 


5. 
Registration Rights.


 


a. 
The Issuer agrees that, within fifteen (15) calendar days after the Closing Date (the “Filing Date”),
the Issuer will file with the Commission (at the Issuer’s sole cost and expense) a registration statement registering the
resale of the Acquired Shares (the “Registration Statement”), and the Issuer shall use its commercially reasonable
efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but no later than
the earlier of (i) the 90th calendar day (or 120th calendar day if the Commission notifies the Issuer that it will “review”
the Registration Statement) following the Closing and (ii) the 7th business day after the date the Issuer is notified (orally
or in writing, whichever is earlier) by the Commission that the Registration Statement will not be “reviewed” or will
not be subject to further review (such earlier date, the “Effectiveness Date”); provided, however, that
the Issuer’s obligations to include the Acquired Shares in the Registration Statement are contingent upon Subscriber furnishing
in writing to the Issuer such information regarding Subscriber, the securities of the Issuer held by Subscriber and the intended
method of disposition of the Acquired Shares as shall be reasonably requested by the Issuer to effect the registration of the Acquired
Shares, and Subscriber shall execute such documents in connection with such registration as the Issuer may reasonably request that
are customary of a selling stockholder in similar situations, including providing that the Issuer shall be entitled to postpone
and suspend the effectiveness or use of the Registration Statement during any customary blackout or similar period or as permitted
hereunder; provided that Subscriber shall not in connection with the foregoing be required to execute any lock-up or similar agreement
or otherwise be subject to any contractual restriction with Osprey on the ability to transfer the Acquired Shares. Any failure
by the Issuer to file the Registration Statement by the Filing Date or to effect such Registration Statement by the Effectiveness
Date shall not otherwise relieve the Issuer of its obligations to file or effect the Registration Statement as set forth above
in this Section 5.


 






    	 	-11-	 



     


    

 


b. 
The Issuer further agrees that, in the event that (i) the Registration Statement has not been declared effective
by the Commission by the Effectiveness Date, (ii) after such Registration Statement is declared effective by the Commission, (A)
such Registration Statement ceases for any reason (including by reason of a stop order, or the Issuer’s failure to update
the Registration Statement), to remain continuously effective as to all Acquired Shares for which it is required to be effective
or (B) Subscriber is not permitted to utilize the Registration Statement to resell the Acquired Shares (in each case of (A) and
(B), (x) other than within the time period(s) permitted by this Subscription Agreement and (y) excluding by reason of a post-effective
amendment required in connection with the Issuer’s filing of an amendment thereto (a “Special Grace Period”)
(which Special Grace Period shall not be treated as a Registration Default (as defined below)), or (iii) after the date six months
following the Closing Date, and only in the event the Registration Statement is not effective or available to sell all Acquired
Shares, the Issuer fails to file with the Commission any required reports under Section 13 or 15(d) of the Exchange Act such that
it is not in compliance with Rule 144(c)(1) (or Rule 144(i)(2), if applicable), as a result of which Subscribers who are not affiliates
of the Issuer are unable to sell the Acquired Shares without restriction under Rule 144 (or any successor thereto) (each such event
referred to in clauses (i) through (iii), a “Registration Default” and, for purposes of such clauses, the date
on which such Registration Default occurs, a “Default Date”), then in addition to any other rights Subscriber
may have hereunder or under applicable law, on each such Default Date and on each monthly anniversary of each such Default Date
(if the applicable Registration Default shall not have been cured by such anniversary date) until the applicable Registration Default
is cured the Issuer shall pay to each Subscriber an amount in cash, as partial liquidated damages and not as a penalty (“Liquidated
Damages”), equal to 0.5% of the aggregate Purchase Price paid by Subscriber pursuant to this Subscription Agreement for
any Acquired Shares which may not be disposed by Subscriber without restriction on the Default Date; provided, however,
that if Subscriber fails to provide the Issuer with any information requested by the Issuer that is required to be provided in
such Registration Statement with respect to Subscriber as set forth herein, then, for purposes of this Section 5, the
Filing Date for a Registration Statement with respect to Subscriber shall be extended until two (2) business days following
the date of receipt by the Issuer of such required information from Subscriber; and in no event shall the Issuer be required hereunder
to pay to Subscriber pursuant to this Subscription Agreement an aggregate amount that exceeds 5.0% of the aggregate Purchase Price
paid by Subscriber for any Acquired Shares which may not be disposed by Subscriber without restriction as of the Effectiveness
Date. The Liquidated Damages pursuant to the terms hereof shall apply on a daily pro-rata basis for any portion of a month prior
to the cure of a Registration Default following the Effectiveness Date. The Issuer shall deliver the cash payment to Subscriber
with respect to any Liquidated Damages by the fifth business day after the date payable. If the Issuer fails to pay said cash payment
to Subscriber in full by the fifth business day after the date payable, the Issuer will pay interest thereon at a rate of 5.0%
per annum (or such lesser maximum amount that is permitted to be paid by applicable law, and calculated on the basis of a year
consisting of 360 days) to such Subscriber, accruing daily from the date such Liquidated Damages are due until such amounts, plus
all such interest thereon, are paid in full. Notwithstanding the foregoing, nothing shall preclude any Subscriber from pursuing
or obtaining any available remedies at law, specific performance or other equitable relief with respect to this Section 5
in accordance with applicable law. The parties agree that notwithstanding anything to the contrary herein, no Liquidated Damages
shall be payable to Subscriber with respect to any period during which all of such Subscriber’s Acquired Shares may be sold
by Subscriber without volume or manner of sale restrictions under Rule 144 and the Issuer is in compliance with the current public
information requirements under Rule 144(c)(1) (or Rule 144(i)(2), if applicable).


 


c. 
In the case of the registration, qualification, exemption or compliance effected by the Issuer pursuant to this Subscription
Agreement, the Issuer shall, upon reasonable request, inform Subscriber as to the status of such registration, qualification, exemption
and compliance. At its expense the Issuer shall:


 






    	 	-12-	 



     


    

 


(i) 
except for such times as the Issuer is permitted hereunder to suspend the use of the prospectus forming part of a
Registration Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or
compliance under state securities laws which the Issuer determines to obtain, continuously effective with respect to Subscriber,
and to keep the applicable Registration Statement or any subsequent shelf registration statement free of any material misstatements
or omissions, until the earlier of the following: (i) Subscriber ceases to hold any Acquired Shares or (ii) the date
all Acquired Shares held by Subscriber may be sold without restriction under Rule 144, including without limitation, any volume
and manner of sale restrictions which may be applicable to affiliates under Rule 144 and without the requirement for the Issuer
to be in compliance with the current public information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), and (iii) two
years from the Effective Date of the Registration Statement. The period of time during which the Issuer is required hereunder to
keep a Registration Statement effective is referred to herein as the “Registration Period”;


 


(ii) 
advise Subscriber within five (5) business days:


 


(1) 
when a Registration Statement or any amendment thereto has been filed with the Commission and when such Registration
Statement or any post-effective amendment thereto has become effective;


 


(2) 
of any request by the Commission for amendments or supplements to any Registration Statement or the prospectus included
therein or for additional information;


 


(3) 
of the issuance by the Commission of any stop order suspending the effectiveness of any Registration Statement or
the initiation of any proceedings for such purpose;


 


(4) 
of the receipt by the Issuer of any notification with respect to the suspension of the qualification of the Acquired
Shares included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and


 


(5) 
subject to the provisions in this Subscription Agreement, of the occurrence of any event that requires the making
of any changes in any Registration Statement or prospectus so that, as of such date, the statements therein are not misleading
and do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case
of a prospectus, in the light of the circumstances under which they were made) not misleading.


 


Notwithstanding anything to the contrary
set forth herein, the Issuer shall not, when so advising Subscriber of such events, provide Subscriber with any material, nonpublic
information regarding the Issuer other than to the extent that providing notice to Subscriber of the occurrence of the events listed
in (1) through (5) above constitutes material, nonpublic information regarding the Issuer;


 






    	 	-13-	 



     


    

 


(iii) 
use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any
Registration Statement as soon as reasonably practicable;


 


(iv) 
upon the occurrence of any event contemplated above, except for such times as the Issuer is permitted hereunder to
suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, the Issuer shall use its commercially
reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a
supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the
Acquired Shares included therein, such prospectus will not include any untrue statement of a material fact or omit to state any
material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading;


 


(v) 
use its commercially reasonable efforts to cause all Acquired Shares to be listed on each securities exchange or
market, if any, on which the Class A Shares issued by the Issuer have been listed; and


 


(vi) 
use its commercially reasonable efforts to take all other steps necessary to effect the registration of the Acquired
Shares contemplated hereby and to enable Subscriber to sell the Acquired Shares under Rule 144.


 


d. 
Notwithstanding anything to the contrary in this Subscription Agreement, the Issuer shall be entitled to delay or
postpone the effectiveness of the Registration Statement, and from time to time to require Subscriber not to sell under the Registration
Statement or to suspend the effectiveness thereof, if the negotiation or consummation of a transaction by the Issuer or its subsidiaries
is pending or an event has occurred, which negotiation, consummation or event the Issuer’s board of directors reasonably
believes, upon the advice of legal counsel, would require additional disclosure by the Issuer in the Registration Statement of
material information that the Issuer has a bona fide business purpose for keeping confidential and the non-disclosure of which
in the Registration Statement would be expected, in the reasonable determination of the Issuer’s board of directors, upon
the advice of legal counsel, to cause the Registration Statement to fail to comply with applicable disclosure requirements (each
such circumstance, a “Suspension Event”); provided, however, that the Issuer may not delay or
suspend the Registration Statement on more than two occasions or for more than sixty (60) consecutive calendar days, or more
than one hundred and twenty (120) total calendar days, in each case during any twelve-month period. Upon receipt of any written
notice from the Issuer of the happening of any Suspension Event during the period that the Registration Statement is effective
or if as a result of a Suspension Event the Registration Statement or related prospectus contains any untrue statement of a material
fact or omits to state any material fact required to be stated therein or necessary to make the statements therein, in light of
the circumstances under which they were made (in the case of the prospectus) not misleading, Subscriber agrees that (i) it
will immediately discontinue offers and sales of the Acquired Shares under the Registration Statement (excluding, for the avoidance
of doubt, sales conducted pursuant to Rule 144) until Subscriber receives copies of a supplemental or amended prospectus (which
the Issuer agrees to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice that
any post-effective amendment has become effective or unless otherwise notified by the Issuer that it may resume such offers and
sales, and (ii) it will maintain the confidentiality of any information included in such written notice delivered by the Issuer
unless otherwise required by law or subpoena. If so directed by the Issuer, Subscriber will deliver to the Issuer or, in Subscriber’s
sole discretion destroy, all copies of the prospectus covering the Acquired Shares in Subscriber’s possession; provided,
however, that this obligation to deliver or destroy all copies of the prospectus covering the Acquired Shares shall not apply (i) to
the extent Subscriber is required to retain a copy of such prospectus (a) in order to comply with applicable legal, regulatory,
self-regulatory or professional requirements or (b) in accordance with a bona fide pre-existing document retention policy
or (ii) to copies stored electronically on archival servers as a result of automatic data back-up.


 






    	 	-14-	 



     


    

 


e. 
Indemnification.


 


(i) 
The Issuer agrees to indemnify, to the extent permitted by law the Subscriber, its directors and officers and agents
and each person who controls the Subscriber (within the meaning of the Securities Act) against all losses, claims, damages, liabilities
and expenses (including attorneys’ fees) caused by any untrue or alleged untrue statement of material fact contained in any
Registration Statement, prospectus included in any Registration Statement (“Prospectus”) or preliminary Prospectus
or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein
or necessary to make the statements therein not misleading, except insofar as the same are caused by or contained in any information
furnished in writing to the Issuer by such Subscriber expressly for use therein.


 


(ii) 
In connection with any Registration Statement in which a Subscriber is participating, such Subscriber shall furnish
to the Issuer in writing such information and affidavits as the Issuer reasonably requests for use in connection with any such
Registration Statement or Prospectus and, to the extent permitted by law, shall indemnify the Issuer, its directors and officers
and agents and each person who controls the Issuer (within the meaning of the Securities Act) against any losses, claims, damages,
liabilities and expenses (including without limitation reasonable attorneys’ fees) resulting from any untrue statement of
material fact contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement
thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein not misleading,
but only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing
by such Subscriber expressly for use therein; provided, however, that the liability of each such Subscriber shall
be several and not joint and shall be in proportion to and limited to the net proceeds received by such Subscriber from the sale
of Acquired Shares pursuant to such Registration Statement.


 


(iii) 
Any person entitled to indemnification herein shall (1) give prompt written notice to the indemnifying party of any
claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s
right to indemnification hereunder to the extent such failure has not prejudiced the indemnifying party) and (2) permit such indemnifying
party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed,
the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent
(but such consent shall not be unreasonably withheld). An indemnifying party who elects not to assume the defense of a claim shall
not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with
respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such
indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party shall, without the
consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in
all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement)
or which settlement does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified
party of a release from all liability in respect to such claim or litigation.


 






    	 	-15-	 



     


    

 


(iv) 
The indemnification provided for under this Subscription Agreement shall remain in full force and effect regardless
of any investigation made by or on behalf of the indemnified party or any officer, director or controlling person of such indemnified
party and shall survive the transfer of securities. The Issuer and each Subscriber participating in an offering also agrees to
make such provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Issuer’s
or such Subscriber’s indemnification is unavailable for any reason.


 


(v) 
If the indemnification provided under this Section 5(e) from the indemnifying party is unavailable or insufficient
to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then
the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified
party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The
relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether
any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to
state a material fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party, and the
indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity to correct
or prevent such action. The amount paid or payable by a party as a result of the losses or other liabilities referred to above
shall be deemed to include, subject to the limitations set forth in Sections 5(e)(i), (ii) and (iii) above, any legal or
other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
pursuant to this Section 5(i) from any person who was not guilty of such fraudulent misrepresentation.


 


6. 
Termination. This Subscription Agreement shall terminate and be void and of no further force and effect, and
all rights and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect
thereof, upon the earlier to occur of (a) such date and time as the Contribution Agreement is terminated in accordance with
its terms, (b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, (c) if
any of the conditions to Closing set forth in Section 2 of this Subscription Agreement are not satisfied on or prior
to the Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement are not consummated at the
Closing or (d) the Outside Date (as defined in the Contribution Agreement); provided, that nothing herein will relieve
any party from liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any
remedies at law or in equity to recover losses, liabilities or damages arising from such breach. The Issuer shall promptly notify
Subscriber in writing of the termination of the Contribution Agreement.


 






    	 	-16-	 



     


    

 


7. 
Trust Account Waiver. Subscriber acknowledges that the Issuer is a blank check company with the powers and
privileges to effect a merger, asset acquisition, reorganization or similar business combination involving the Issuer and one or
more businesses or assets. Subscriber further acknowledges that, as described in the Issuer’s prospectus relating to its
initial public offering dated July 20, 2017 (the “Prospectus”), available at www.sec.gov, substantially all
of the Issuer’s assets consist of the cash proceeds of the Issuer’s initial public offering and private placements
of its securities, and substantially all of those proceeds have been deposited in a trust account (the “Trust Account”)
for the benefit of the Issuer, its public stockholders and certain parties (including the underwriters of the Issuer’s initial
public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Issuer
to pay its tax obligations, if any, the cash in the Trust Account may be disbursed only for the purposes set forth in the Prospectus.
For and in consideration of the Issuer entering into this Subscription Agreement, the receipt and sufficiency of which are hereby
acknowledged, Subscriber, on behalf of itself and its affiliates and representatives, hereby irrevocably waives any and all right,
title and interest, or any claim of any kind they have or may have in the future as a result of, or arising out of, this Subscription
Agreement, in or to any monies held in the Trust Account, and agrees not to seek recourse or make or bring any action, suit, claim
or other proceeding against the Trust Account as a result of, or arising out of, this Subscription Agreement, the transactions
contemplated hereby or the Acquired Shares, regardless of whether such claim arises based on contract, tort, equity or any other
theory of legal liability. Subscriber acknowledges and agrees that it shall not have any redemption rights with respect to the
Acquired Shares pursuant to the Issuer’s certificate of incorporation in connection with the Transactions or any other business
combination, any subsequent liquidation of the Trust Account or the Issuer or otherwise. In the event Subscriber has any claim
against the Issuer as a result of, or arising out of, this Subscription Agreement, the transactions contemplated hereby or the
Acquired Shares, it shall pursue such claim solely against the Issuer and its assets outside the Trust Account and not against
the Trust Account or any monies or other assets in the Trust Account.


 


8. 
Reserved.


 


9. 
Issuer’s Covenants


 


a. 
Except as contemplated herein, Issuer, its subsidiaries, their respective affiliates shall not, and shall cause any
person acting on behalf of any of the foregoing to not, take any action or steps that would require registration of the issuance
of any of the Acquired Shares under the Securities Act.


 






    	 	-17-	 



     


    

 


b. 
With a view to making available to Subscriber the benefits of Rule 144 promulgated under the Securities Act or any
other similar rule or regulation of the Commission that may at any time permit Subscriber to sell securities of the Issuer to the
public without registration, the Issuer agrees, until the Acquired Shares are registered for resale under the Securities Act, to:


 


(i) make
and keep public information available, as those terms are understood and defined in Rule 144;


 


(ii) file
with the Commission in a timely manner all reports and other documents required of the Issuer under the Securities Act and the
Exchange Act so long as the Issuer remains subject to such requirements and the filing of such reports and other documents is required
for the applicable provisions of Rule 144; and


 


(iii) furnish
to Subscriber so long as it owns Acquired Shares, promptly upon request, (x) a written statement by the Issuer, if true, that it
has complied with the reporting requirements of Rule 144, the Securities Act and the Exchange Act, (y) a copy of the most recent
annual or quarterly report of the Issuer and such other reports and documents so filed by the Issuer and (z) such other information
as may be reasonably requested to permit Subscriber to sell such securities pursuant to Rule 144 without registration.


 


c. 
The Issuer will use the proceeds from the sale of the Acquired Shares and the shares issued and sold pursuant to
the Other Subscription Agreement solely to finance the Transactions.


 


d. 
The legend described in Section 4(e) shall be removed and the Issuer shall issue a certificate without such
legend to the holder of the Acquired Shares upon which it is stamped or issue to such holder by electronic delivery at the applicable
balance account at The Depository Trust Company (“DTC”), if (i) such Acquired Shares are registered for resale
under the Securities Act, (ii) in connection with a sale, assignment or other transfer, such holder provides the Issuer with an
opinion of counsel, in a form reasonably acceptable to the Issuer, to the effect that such sale, assignment or transfer of the
Acquired Shares may be made without registration under the applicable requirements of the Securities Act, or (iii) the Acquired
Shares can be sold, assigned or transferred pursuant to Rule 144. The Issuer shall be responsible for the fees of its transfer
agent and all DTC fees associated with such issuance.


 


10. 
Miscellaneous.


 


a. 
Subscriber acknowledges that the Issuer and others will rely on the acknowledgments, understandings, agreements,
representations and warranties contained in this Subscription Agreement. Prior to the Closing, Subscriber agrees to promptly notify
the Issuer if any of the acknowledgments, understandings, agreements, representations and warranties set forth herein are no longer
accurate in all material respects.


 


b. 
Each of the Issuer and Subscriber is entitled to rely upon this Subscription Agreement and is irrevocably authorized
to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official
inquiry with respect to the matters covered hereby. The Agent is entitled to rely upon the representations and warranties made
by Subscriber in this Subscription Agreement.


 






    	 	-18-	 



     


    

 


c. 
This Subscription Agreement and any of Subscriber’s rights and obligations hereunder may be assigned to any
fund or account managed by the same investment manager as the Subscriber, without the prior consent of the Issuer, provided that
such assignee(s) agrees to be bound by the terms hereof. Upon such assignment by a Subscriber, the assignee(s) shall become Subscriber
hereunder and have the rights and obligations provided for herein to the extent of such assignment. Neither this Subscription Agreement
nor any rights that may accrue to the Issuer hereunder or any of Issuer’s obligations may be transferred or assigned.


 


d. 
All the agreements, representations and warranties made by each party hereto in this Subscription Agreement shall
survive the Closing.


 


e. 
The Issuer may request from Subscriber such additional information as the Issuer may deem reasonably necessary to
evaluate the eligibility of Subscriber to acquire the Acquired Shares, and Subscriber shall provide such information as may be
reasonably requested, to the extent readily available and to the extent consistent with its internal policies and procedures.


 


f. 
This Subscription Agreement may not be modified, waived or terminated except by an instrument in writing, signed
by the party against whom enforcement of such modification, waiver, or termination is sought.


 


g. 
This Subscription Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings,
representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof.


 


h. 
Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit
of the parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and
the agreements, representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and
be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns.


 


i. 
If any provision of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality
or enforceability of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby
and shall continue in full force and effect.


 


j. 
This Subscription Agreement may be executed in two (2) or more counterparts (including by electronic means),
all of which shall be considered one and the same agreement and shall become effective when signed by each of the parties and delivered
to the other parties, it being understood that all parties need not sign the same counterpart.


 


k. 
Subscriber shall pay all of its own expenses in connection with this Subscription Agreement and the transactions
contemplated by this Subscription Agreement.


 






    	 	-19-	 



     


    

 


l. 
Notices. Any notice or communication required or permitted hereunder shall be in writing and either delivered
personally, emailed or telecopied, sent by overnight mail via a reputable overnight carrier, or sent by certified or registered
mail, postage prepaid, and shall be deemed to be given and received (a) when so delivered personally, (b) upon receipt
of an appropriate electronic answerback or confirmation when so delivered by telecopy (to such number specified below or another
number or numbers as such person may subsequently designate by notice given hereunder), (c) when sent, with no mail undeliverable
or other rejection notice, if sent by email, or (d) five (5) business days after the date of mailing to the address below
or to such other address or addresses as such person may hereafter designate by notice given hereunder:


 


(i) 
if to Subscriber, to such address or addresses set forth on the signature page hereto;


 


(ii) 
if to the Issuer, to:


 


1845 Walnut Street, 10th Floor


Philadelphia, PA 19103


Attn: Jeffrey Brotman


Facsimile: (215) 640-6344


  


with a required copy to (which copy shall not constitute
notice):


 


Wachtell, Lipton, Rosen & Katz


51 West 52nd Street


New York, NY 10019

Attention:      David K. Lam


Telephone:    (212) 403-1000


Facsimile:      (212) 403-2000


E-mail:           dklam@wlrk.com


 


m. 
The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Subscription
Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that
the parties shall be entitled to an injunction or injunctions to prevent breaches of this Subscription Agreement and to enforce
specifically the terms and provisions of this Subscription Agreement, this being in addition to any other remedy to which such
party is entitled at law, in equity, in contract, in tort or otherwise.


 


n. 
This Subscription Agreement, and any claim or cause of action hereunder based upon, arising out of or related to
this Subscription Agreement (whether based on law, in equity, in contract, in tort or any other theory) or the negotiation, execution,
performance or enforcement of this Subscription Agreement, shall be governed by and construed in accordance with the Laws of the
State of New York, without giving effect to the principles of conflicts of laws thereof.


 






    	 	-20-	 



     


    

 


THE PARTIES HERETO IRREVOCABLY SUBMIT TO
THE EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, THE SUPREME COURT OF THE
STATE OF NEW YORK AND THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA LOCATED IN THE STATE OF NEW YORK SOLELY IN RESPECT OF
THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS SUBSCRIPTION AGREEMENT AND THE DOCUMENTS REFERRED TO IN THIS SUBSCRIPTION
AGREEMENT AND IN RESPECT OF THE TRANSACTIONS CONTEMPLATED HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY
ACTION, SUIT OR PROCEEDING FOR INTERPRETATION OR ENFORCEMENT HEREOF OR ANY SUCH DOCUMENT THAT IS NOT SUBJECT THERETO OR THAT SUCH
ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE
OR THAT THIS SUBSCRIPTION AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, AND THE PARTIES HERETO IRREVOCABLY
AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD AND DETERMINED BY SUCH A NEW YORK STATE OR
FEDERAL COURT. THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES AND OVER THE
SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR PROCEEDING
IN THE MANNER PROVIDED IN SECTION 10(l) OR IN SUCH OTHER MANNER AS MAY BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT
SERVICE THEREOF.


 


EACH PARTY ACKNOWLEDGES AND AGREES THAT
ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IS LIKELY TO INVOLVE
COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY
MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT,
IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS
OF THE FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY AND (IV) SUCH PARTY HAS BEEN INDUCED
TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 10(n).


 


o. 
If, any change in the Class A Shares shall occur between the date hereof and immediately prior to the Closing by
reason of any reclassification, recapitalization, stock split (including reverse stock split) or combination, exchange or readjustment
of shares, or any stock dividend, the number of Acquired Shares issued to Subscriber shall be appropriately adjusted to reflect
such change.


 


p. 
The Issuer shall, by 9:00 a.m., New York City time, on the first (1st) business day immediately following the date
of this Subscription Agreement, issue one or more press releases or file with the Commission a Current Report on Form 8-K (collectively,
the “Disclosure Document”) disclosing all material terms of the transactions contemplated hereby and by the
Other Subscription Agreements, the Transactions and any other material, nonpublic information that the Issuer has provided to Subscriber
at any time prior to the filing of the Disclosure Document. From and after the issuance of the Disclosure Document, to the Issuer’s
knowledge, Subscriber shall not be in possession of any material, non-public information received from the Issuer or any of its
officers, directors or employees and Subscriber shall no longer be subject to any confidentiality or similar obligations under
any current agreement, whether written or oral with the Issuer or any of its affiliates. Notwithstanding anything in this Subscription
Agreement to the contrary, the Issuer shall not publicly disclose the name of Subscriber or any of its affiliates, or include the
name of Subscriber or any of its affiliates in any press release or in any filing with the Commission or any regulatory agency
or trading market, without the prior written consent of Subscriber, except (i) as required by the federal securities law in connection
with the Registration Statement and (ii) to the extent such disclosure is required by law, at the request of the Staff of the Commission
or regulatory agency or under the regulations of NASDAQ.


 


[Signature pages follow.]


 






    	 	-21-	 



     


    







 


IN WITNESS WHEREOF, each of the Issuer
and Subscriber has executed or caused this Subscription Agreement to be executed by its duly authorized representative as of the
date set forth below.


 


	 	OSPREY ENERGY ACQUISITION CORP.
	 	 
	 	By:  	                       
	 	Name:  	 
	 	Title:  	 




 


Date:            , 2018


 


Signature Page to 

Subscription Agreement


 






     


     


    










	SUBSCRIBER:	 
	 	 
	Signature of Subscriber:	Signature of Joint Subscriber, if applicable:
	 	 
	By: ___________________________________

Name:

Title:	By: ___________________________________

Name:

Title:


 


Date:             ,
2018


 


	Signature of Subscriber:	Signature of Joint Subscriber, if applicable:
	 	 
	___________________________________

(Please print. Please indicate name and

capacity of person signing above)	___________________________________

    (Please print. Please indicate name and

    capacity of person signing above)
	 	 
	___________________________________

    Name in which securities are to be registered

    (if different)	 
	 	 
	Email Address:	 
	 	 
	If there are joint investors, please check one:	 
	 	 
	☐ Joint Tenants with Rights of Survivorship	 
	 	 
	☐ Tenants-in-Common	 
	 	 
	☐ Community Property	 
	 	 
	Subscriber’s EIN: _______________	Joint Subscriber’s EIN:

________________________________
	Business Address-Street:	Mailing Address-Street (if different):
	 	 
	___________________________________	___________________________________
	 	 
	___________________________________

City, State, Zip:	___________________________________

City, State, Zip:
	 	 
	Attn:	Attn:
	 	 
	Telephone No.: ___________________	Telephone No.: ___________________
	 	 
	Facsimile No.: ____________________	Facsimile No.: ____________________
	 	 
	Aggregate Number of Acquired Shares subscribed for:	 
	________________________________	 
	 	 
	Aggregate Purchase Price: $  _______________.	 


 


You must pay the Purchase Price by wire transfer of United States
dollars in immediately available funds to the account specified by the Issuer in the Closing Notice.


 


Number of Acquired Shares subscribed for and aggregate Purchase
Price as of                , 2018, accepted and agreed to as of this  
day of                , 2018, by:


 


OSPREY ENERGY ACQUISITION CORP.


 





	By:  	 	 
	Name: 	 	 
	Title:	 	 




 


Signature of Subscriber:


 


[ 
____________] By: _____________

Name:

Title:


 


Signature Page
to

Subscription Agreement 






     


     


    







 


SCHEDULE A

ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER


 


	A.	QUALIFIED INSTITUTIONAL BUYER STATUS

(Please check the applicable subparagraphs):
	 	1.	☐ We are a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act (a “QIB”)).
	 	2.	☐ We are subscribing for the Acquired Shares as a fiduciary or agent for one or more investor accounts, and each owner of such account is a QIB.


*** OR ***


 


	B.	INSTITUTIONAL ACCREDITED INVESTOR STATUS

(Please check the applicable subparagraphs):
	 	1.	☐ We are an “accredited investor” (within the meaning of Rule 501(a) under the Securities Act) or an entity in which all of the equity holders are accredited investors within the meaning of Rule 501(a) under the Securities Act, and have marked and initialed the appropriate box on the following page indicating the provision under which we qualify as an “accredited investor.”
	 	2.	☐ We are not a natural person.


*** AND ***


 


	C.	AFFILIATE STATUS

(Please check the applicable box)
	 	SUBSCRIBER:
	 	☐	is:
	 	☐	is not:


an “affiliate” (as defined in Rule 144
under the Securities Act) of the Issuer or acting on behalf of an affiliate of the Issuer.


 


This page should be completed by Subscriber


and constitutes a part of the Subscription Agreement. 


 


Schedule A-1


 






     


     


    







 


Rule 501(a), in relevant part, states that an “accredited
investor” shall mean any person who comes within any of the below listed categories, or who the issuer reasonably believes
comes within any of the below listed categories, at the time of the sale of the securities to that person. Subscriber has indicated,
by marking and initialing the appropriate box below, the provision(s) below which apply to Subscriber and under which Subscriber
accordingly qualifies as an “accredited investor.”


 


☐
Any bank as defined in section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined
in section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity;


 


☐
Any broker or dealer registered pursuant to section 15 of the Securities Exchange Act of 1934;


 


☐
Any insurance company as defined in section 2(a)(13) of the Securities Act;


 


☐
Any investment company registered under the Investment Company Act of 1940 or a business development company as defined in section
2(a)(48) of that Act;


 


☐
Any Small Business Investment Company licensed by the U.S. Small Business Administration under section 301(c) or (d) of the
Small Business Investment Act of 1958;


 


☐
Any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its
political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000;


 


☐
Any employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment decision
is made by a plan fiduciary, as defined in section 3(21) of such act, which is either a bank, savings and loan association, insurance
company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed
plan, with investment decisions made solely by persons that are accredited investors;


 


☐
Any private business development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940;


 


☐
Any organization described in section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or similar business trust,
or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000;
or


 


☐
Any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered,
whose purchase is directed by a sophisticated person as described in § 230.506(b)(2)(ii).


 


This page should be completed by Subscriber


and constitutes a part of the Subscription Agreement. 


 


Schedule A-2


 






     


     


    

 


☐
Any natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of his purchase
exceeds $1,000,000.  For purposes of calculating a natural person’s net worth: (a) the person’s primary residence
must not be included as an asset; (b) indebtedness secured by the person’s primary residence up to the estimated fair market
value of the primary residence must not be included as a liability (except that if the amount of such indebtedness outstanding
at the time of calculation exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of
the primary residence, the amount of such excess must be included as a liability); and (c) indebtedness that is secured by the
person’s primary residence in excess of the estimated fair market value of the residence must be included as a liability;


 


☐ 
Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with
that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income
level in the current year;


 


☐ 
Any entity in which all of the equity owners are accredited investors meeting one or more of the above tests.


 





This page should be completed by Subscriber


and constitutes a part of the Subscription Agreement. 


 


Schedule A-3