Exhibit 4.3


 


DESCRIPTION OF SECURITIES


 


The
following sets forth a summary of the material terms of our securities, including certain provisions of Delaware law and of the Second
Amended and Restated Certificate of Incorporation (the “Charter”) of DocGo Inc. (“DocGo”), the Amended and Restated
Bylaws of DocGo (the “Bylaws”) and the Warrant Agreement, dated October 14, 2020, by and between DocGo (fka Motion Acquisition
Corp.) and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agreement”). This summary is not
intended to be a complete summary of the rights and preferences of such securities and is qualified entirely by reference to the Charter,
Bylaws and the Warrant Agreement. You should refer to our Charter, Bylaws and the Warrant Agreement, which are incorporated by reference
as exhibits to our Annual Report on Form 10-K, for a complete description of the rights and preferences of our securities. The summary
below is also qualified by reference to the provisions of the DGCL, as applicable.


 


Capital Stock


 


The
Charter authorizes the issuance of 550,000,000 shares of capital stock, consisting of (i) 500,000,000 shares of common
stock, par value $0.0001 (“Common Stock”), and (ii) 50,000,000 shares of preferred stock, par value $0.0001 per
share.


 


Common Stock


 


The
Charter provides that DocGo has one class of common stock, Common Stock, par value $0.0001.


 


Preferred Stock


 


The
Charter provides that shares of preferred stock may be issued from time to time in one or more series. The board of directors of DocGo
is authorized to fix the voting rights, if any, designations, powers, preferences and relative participating, optional, special and other
rights, if any, and any qualifications, limitations and restrictions thereof, applicable to the shares of each series. The board of directors
of DocGo is able, without stockholder approval, to issue preferred stock with voting and other rights that could adversely affect the
voting power and other rights of the holders of Common Stock and could have anti-takeover effects. The ability of the board of directors
of DocGo to issue preferred stock without stockholder approval could have the effect of delaying, deferring or preventing a change of
control of us or the removal of existing management. We have no preferred stock outstanding at the date hereof. Although we do not currently
intend to issue any shares of preferred stock, we cannot assure you that we will not do so in the future.


 


Dividends


 


Under
the Charter, holders of Common Stock are entitled to receive ratable dividends, if any, as may be declared from time-to-time by our
board of directors out of legally available assets or funds. There are no current plans to pay cash dividends on Common Stock for the
foreseeable future.


 


Voting Power


 


Except
as otherwise required by law or as otherwise provided in any certificate of designation for any series of preferred stock, under the Charter,
the holders of Common Stock will possess all voting power for the election of our directors and all other matters requiring stockholder
action and are entitled or will be entitled, as applicable, to one vote per share on matters to be voted on by stockholders. Subject to
certain limited exceptions, the holders of Common Stock shall at all times vote together as one class on all matters submitted to a vote
of the holders of Common Stock under the Charter.


 


Preemptive or Other
Rights


 


The
Charter does not provide for any preemptive or other similar rights.


 






     


     


    

 


Election of Directors


 


The
board of directors of DocGo consists of seven directors. The Charter provides that the board of directors is divided into three classes
of directors, with the classes to be as nearly equal in number as possible, and with each director serving a three-year term. As
a result, approximately one-third of the board of directors will be elected each year. The classification of directors will have
the effect of making it more difficult for stockholders to change the composition of the board of directors.


 


Under
the Charter, directors are elected by a plurality voting standard, whereby each of our stockholders may not give more than one vote per
share towards any one director nominee.


 


Annual Stockholder
Meetings


 


The
Charter provides that annual stockholder meetings will be held at a date, time and place, if any, as exclusively selected by DocGo’s
board of directors. To the extent permitted under applicable law, DocGo may conduct meetings by means of remote communication.


 


Stockholders’
Derivative Actions


 


Under
the DGCL, any of DocGo’s stockholders may bring an action in DocGo’s name to procure a judgment in DocGo’s favor, also
known as a derivative action, provided that the stockholder bringing the action is a holder of DocGo’s shares at the time of the
transaction to which the action relates or such stockholder’s stock thereafter devolved by operation of law.


 


Conflicts of Interest;
Corporate Opportunity


 


Delaware
law permits corporations to adopt provisions renouncing any interest or expectancy in certain opportunities that are presented to the
corporation or its officers, directors, or stockholders. The Charter provides that, to the maximum extent allowed by law, the doctrine
of corporate opportunity, or any other analogous doctrine, shall not apply with respect to DocGo or any of its officers or directors,
or any of their respective affiliates, in circumstances where the application of any such doctrine would conflict with any fiduciary duties
or contractual obligations they may have as of the date of the Charter or in the future, and further provides that DocGo will renounce
any expectancy that any of the directors or officers of DocGo will offer any such corporate opportunity of which he or she may become
aware to DocGo, except the doctrine of corporate opportunity shall apply with respect to any of the directors or officers of DocGo.


 


Limitations on
Liability and Indemnification of Officers and Directors


 


Limitation
of Liability; Indemnification


 


The
Charter provides that, to the fullest extent permitted by the DGCL as the same exists or as may hereafter be amended, no director of DocGo
shall be personally liable to DocGo or its stockholders for monetary damages for breach of fiduciary duty as a director. The Bylaws also
provide that no director or officer of DocGo shall be personally liable to DocGo or to any stockholder of DocGo for monetary damages for
breach of fiduciary duty as a director or officer, but does not limit liability (i) for any breach of the director’s or the officer’s
duty of loyalty to DocGo or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or
a knowing violation of law, (iii) under Section 174 of the DGCL, or (iv) for any transaction from which the director or officer derived
an improper personal benefit. At the Closing, DocGo entered into indemnification agreements with the directors and officers of DocGo.


 


Insurance
Coverage


 


The
Charter requires DocGo to maintain directors’ and officers’ liability insurance coverage of at least $5,000,000 per occurrence,
to the fullest extent permitted by law covering, among other things, violations of federal or state securities laws. DocGo is also required
to pay all premiums due thereon and may not make any material alteration to the terms thereof, or the coverage provided by, such insurance
policy without the prior written consent of the board of directors. In connection with the consummation of the Business Combination, Motion
purchased a tail policy with respect to liability coverage for the benefit of former Motion officers and directors for a period of six (6)
years following the Closing.


 






    2


     


    

 


These
provisions may discourage current shareholders and future stockholders from bringing a lawsuit against our directors for breach of their
fiduciary duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against officers and directors,
even though such an action, if successful, might otherwise benefit us and our shareholders and stockholders. Furthermore, a shareholder’s
or stockholder’s investment may be adversely affected to the extent we pay the costs of settlement and damage awards against officers
and directors pursuant to these indemnification provisions.


 


We
believe that these provisions, the directors’ and officers’ liability insurance and the indemnity agreements are necessary
to attract and retain talented and experienced officers and directors.


 


Certain Anti-Takeover
Provisions of Delaware Law, the Company’s Certificate of Incorporation and Bylaws


 


The
Charter, Bylaws and DGCL contain provisions as summarized in the following paragraphs that are intended to enhance the likelihood of continuity
and stability in the composition of DocGo’s board of directors. These provisions are intended to avoid costly takeover battles,
reduce DocGo’s vulnerability to a hostile change of control, and enhance the ability of DocGo’s board of directors to maximize
stockholder value in connection with any unsolicited offer to acquire DocGo. However, these provisions may have an anti-takeover effect
and may delay, deter, or prevent a merger or acquisition of DocGo by means of a tender offer, a proxy contest or other takeover attempt
that a stockholder might consider in its best interest, including those attempts that might result in a premium over the prevailing market
price for the shares of Common Stock held by stockholders.


 


Forum
Selection Clause


 


The
Charter provides that unless we consent in writing to the selection of an alternative forum, (a) the sole and exclusive forum for any
complaint asserting any internal corporate claims (as defined below), to the fullest extent permitted by law, and subject to applicable
jurisdictional requirements, shall be the Court of Chancery of the State of Delaware (or, if the Court of Chancery does not have, or declines
to accept, jurisdiction, another state court or a federal court located within the State of Delaware); and (b) the sole and exclusive
forum for any complaint asserting a cause of action arising under the Securities Act, to the fullest extent permitted by law, shall be
the federal district courts of the United States of America; however, this provision will not apply to suits brought to enforce a duty
or liability created by the Securities Exchange Act. Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits
brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. As a result, the exclusive
forum provision will not apply to suits brought to enforce any duty or liability created by the Exchange Act or any other claim for which
the federal courts have exclusive jurisdiction. For purposes of this provision, “internal corporate claims” means claims,
including claims in the right of DocGo that are based upon a violation of a duty by a current or former director, officer, employee or
stockholder in such capacity, or as to which the DGCL confers jurisdiction upon the Court of Chancery.


 


Advance
Notice of Director Nominations and New Business


 


The
Bylaws state that in order for a stockholder to propose nominations of candidates to be elected as directors or any other proper business
to be considered by stockholders at the annual meeting, such stockholder must, among other things, provide notice thereof in writing to
the Secretary at the principal executive offices not later than the close of business on the 90th day nor earlier than the close of business
on the 120th day prior to the first anniversary of the preceding year’s annual meeting (provided however that if the date of the
annual meeting is more than 30 days before or more than 60 days after such anniversary date, or if no annual meeting was held the preceding
year, notice must be delivered no earlier than the close of business on the 120th day prior to such annual meeting and not later than
the close of business on the later of the 90th day prior to such annual meeting or the 10th day following the date on which public announcement
of such meeting is first made by us). Such notice must contain, among other things, certain information about the stockholder giving the
notice (and the beneficial owner, if any, on whose behalf the nomination or proposal is made) and certain information about any nominee
or other proposed business.


 


No
Cumulative Voting


 


The
DGCL provides that a stockholder’s right to vote cumulatively in the election of directors does not exist unless the certificate
of incorporation specifically provides otherwise. Our Charter does not provide for cumulative voting.


 






    3


     


    

 


Classified
Board of Directors


 


Our
Charter provides that our board of directors is divided into three classes of directors, with the classes to be as nearly equal in number
as possible, designated Class I, Class II and Class III. Class I, II and III directors shall initially serve until our 2022, 2023 and
2024 annual meetings of stockholders, respectively. The classification of directors has the effect of making it more difficult for stockholders
to change the composition of our board of directors.


 


Removal
of Directors; Vacancies


 


Our
Charter provides that directors may be removed only for cause and only upon the affirmative vote of holders of 662/3% of the voting power
of all the then outstanding shares of stock entitled to vote generally in the election of directors, voting together as a single class.
In addition, our Charter provides that any newly created directorships and any vacancies on our board of directors will be filled only
by the affirmative vote of the majority of remaining directors. Therefore, stockholders are not able to elect new directors to fill any
resulting vacancies that may be created as a result of such a special meeting.


 


Supermajority
Vote Requirement to Amend the Bylaws and Certificate of Incorporation


 


The
affirmative vote of at least 66 2/3% of the voting power of all the then-outstanding shares of capital stock entitled to vote, voting
as a single class, is required for stockholders to adopt, amend or repeal (i) the Bylaws and (ii) Section 5.2 of Article V, Article VI,
Article VIII, Article IX, Article X or Article XI of the Charter.


 


Stockholder
Action by Written Consent


 


The
DGCL permits any action required to be taken at any annual or special meeting of the stockholders to be taken without a meeting, without
prior notice and without a vote if a consent in writing, setting forth the action so taken, is signed by the holders of outstanding stock
having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares
of stock entitled to vote thereon were present and voted, unless the certificate of incorporation provides otherwise. Our Charter precludes
stockholder action by written consent unless recommended and approved by all members of the board of directors of DocGo.


 


Listing of Securities


 


Our
Common Stock and Warrants are listed on Nasdaq under the symbols “DCGO” and “DCGOW,” respectively.


 


Warrants


 


As
of March 14, 2022, there were 6,366,638 warrants outstanding, consisting of 3,833,305 public warrants, each representing
the right to purchase one share of Common Stock at a price of $11.50 per share, subject to certain conditions set forth in the Warrant
Agreement (the “Public Warrants”) and 2,533,333 private placement warrants, each representing the right to purchase one share
of Common Stock at a price of $11.50 per share, subject to certain conditions set forth in the Warrant Agreement (the “Private Warrants”,
together with the Public Warrants, the “Warrants”).


 


Public
Warrants


 


Each
whole Warrant entitles the registered holder to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment
as discussed below, at any time commencing on and after December 5, 2021, except as described below. Pursuant to the Warrant Agreement,
a Warrant holder may exercise its Warrants only for a whole number of shares of Common Stock. This means only a whole Warrant may be exercised
at a given time by a Warrant holder. The Warrants will expire on November 5, 2026, the date that is five years after the Closing
Date, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.


 


We
will not be obligated to deliver any shares of Common Stock pursuant to the exercise of a Warrant and will have no obligation to settle
such Warrant exercise unless a registration statement under the Securities Act covering the issuance of the shares of Common Stock underlying
the Warrants is then effective and a prospectus relating thereto is current, subject to our satisfying our obligations described below
with respect to registration. No Warrant will be exercisable and we will not be obligated to issue shares of Common Stock upon exercise
of a Warrant unless the Common Stock issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt under the
securities laws of the state of residence of the registered holder of the Warrants. In the event that the conditions in the two immediately
preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant will not be entitled to exercise such Warrant
and such Warrant may have no value and expire worthless. In no event will we be required to net cash settle any Warrant.


 






    4


     


    

 


We
have agreed that as soon as practicable, but in no event later than 15 business days after the Closing, we will use our reasonable
best efforts to file, and within 60 business days following the Closing to have declared effective, a registration statement under
the Securities Act covering the issuance of the shares of Common Stock issuable upon exercise of the warrants. Accordingly, we will use
our reasonable best efforts to maintain the effectiveness of such registration statement and a current prospectus relating to those shares
of Common Stock until the warrants expire or are redeemed. Notwithstanding the above, if the Common Stock is not listed on a national
securities exchange at the time of any exercise of a Warrant, such that the Common Stock does not satisfy the definition of a “covered
security” under Section 18(b)(1) of the Securities Act at that time, we may, at our option, require holders of Public
Warrants who exercise their Warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities
Act and, in the event we so elect, we will not be required to file or maintain in effect a registration statement, but we will be required
to use our best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.


 


Redemption
of Warrants when the price per share of Common Stock equals or exceeds $18.00.    Once the Warrants become
exercisable on December 5, 2021, we may redeem the outstanding Warrants (except as described herein with respect to the Private Warrants):


 


		●	in whole and not in part;



 


		●	at a price of $0.01 per Warrant;



 


		●	upon not less than 30 days’ prior written notice
of redemption (the “30-day redemption period”) to each Warrant holder; and



 


		●	if, and only if, closing price of the Common Stock equals or
exceeds $18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a
Warrant as described under the heading “— Anti-dilution Adjustments”) on the third trading day
prior to the date on which we send the notice of redemption to the Warrant holders.



 


If
and when the Warrants become redeemable by us, we may exercise our redemption right even if we are unable to register or qualify the underlying
securities for sale under all applicable state securities laws. As a result, we may redeem the warrants as set forth above even if the
holders are otherwise unable to exercise the warrants.


 


We
have established the $18.00 per share (subject to adjustment) redemption criteria discussed above to prevent a redemption call unless
there is at the time of the call a significant premium to the Warrant exercise price. If the foregoing conditions are satisfied and we
issue a notice of redemption of the Warrants, each Warrant holder will be entitled to exercise its Warrant prior to the scheduled redemption
date. However, the price of the Common Stock may fall below the $18.00 redemption trigger price (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) as well as the $11.50 (for whole shares) Warrant exercise price after the redemption
notice is issued.


 


If
we call the Warrants for redemption for cash as described above, our management will have the option to require any holder that wishes
to exercise its Warrant to do so on a “cashless basis.” In determining whether to require all holders to exercise their Warrants
on a “cashless basis,” our management will consider, among other factors, our cash position, the number of Warrants that are
outstanding and the dilutive effect on our stockholders of issuing the maximum number of shares of Common Stock issuable upon the exercise
of our Warrants. If our management takes advantage of this option, all holders of Warrants would pay the exercise price by surrendering
their Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number
of shares of Common Stock underlying the Warrants, multiplied by the excess of the “fair market value” (defined below) over
the exercise price of the Warrants by (y) the fair market value. The “fair market value” for this purpose shall mean
the average last reported sale price of the Common Stock for the 10 trading days ending on the third trading day prior to the
date on which the notice of redemption is sent to the holders of Warrants. If our management takes advantage of this option, the notice
of redemption will contain the information necessary to calculate the number of shares of Common Stock to be received upon exercise of
the Warrants, including the “fair market value” in such case. Requiring a cashless exercise in this manner will reduce the
number of shares to be issued and thereby lessen the dilutive effect of a Warrant redemption. We believe this feature is an attractive
option to us if we do not need the cash from the exercise of the Warrants after the Closing. If we call our Warrants for redemption and
our management does not take advantage of this option, the initial purchasers and their permitted transferees would still be entitled
to exercise their private placement Warrants for cash or on a cashless basis using the same formula described above that other Warrant
holders would have been required to use had all Warrant holders been required to exercise their Warrants on a cashless basis, as described
in more detail below.


 






    5


     


    

 


Redemption
of Warrants when the price per share of Common Stock equals or exceeds $10.00.    Once the Warrants become
exercisable on December 5, 2021, we may redeem the outstanding Warrants (except as described herein with respect to the Private Warrants):


 


		●	in whole and not in part;



 


		●	at $0.10 per Warrant upon a minimum of 30 days’ prior
written notice of redemption provided that holders will be able to exercise their Warrants prior to redemption and receive that number
of shares of Common Stock to be determined by reference to the table below, based on the redemption date and the “fair market value”
of our Common Stock (as defined below) except as otherwise described below;



 


		●	if, and only if, the last reported sale price of Common Stock
equals or exceeds $10.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) on
the trading day prior to the date on which we send the notice of redemption to the Warrant holders;



 


		●	if, and only if, the Private Warrants are also concurrently
called for redemption on the same terms as the outstanding Public Warrants, as described above; and



 


		●	if, and only if, there is an effective registration statement
covering the issuance of the shares of Common Stock issuable upon exercise of the Warrants and a current prospectus relating thereto
available throughout the 30-day period after written notice of redemption is given.



 


Beginning
on the date the notice of redemption is given until the Warrants are redeemed or exercised, holders may elect to exercise their Warrants
on a cashless basis. The numbers in the table below represent the number of shares of Common Stock that a Warrant holder will receive
upon exercise in connection with a redemption by us pursuant to this redemption feature, based on the “fair market value”
of our Common Stock on the corresponding redemption date (assuming holders elect to exercise their Warrants and such Warrants are not
redeemed for $0.10 per Warrant), determined based on the average of the last reported sales price for the 10 trading days ending
on the third trading day prior to the date on which the notice of redemption is sent to the holders of Warrants, and the number of months
that the corresponding redemption date precedes the expiration date of the Warrants, each as set forth in the table below.


 


The
stock prices set forth in the column headings of the table below will be adjusted as of any date on which the number of shares issuable
upon exercise of a Warrant is adjusted as set forth in the first three paragraphs under the heading “— Anti-dilution Adjustments”
below. The adjusted stock prices in the column headings will equal the stock prices immediately prior to such adjustment, multiplied by
a fraction, the numerator of which is the number of shares deliverable upon exercise of a Warrant immediately prior to such adjustment
and the denominator of which is the number of shares deliverable upon exercise of a Warrant as so adjusted. The number of shares in the
table below shall be adjusted in the same manner and at the same time as the number of shares issuable upon exercise of a Warrant.


 


	Redemption Date (period to

expiration of Warrants)  	 	Fair Market Value of Class A Common Stock	 
	 	$10.00	 	 	$11.00	 	 	$12.00	 	 	$13.00	 	 	$14.00	 	 	$15.00	 	 	$16.00	 	 	$17.00	 	 	≥$18.00	 
	57 months	 	 	0.233	 	 	 	0.255	 	 	 	0.275	 	 	 	0.293	 	 	 	0.309	 	 	 	0.324	 	 	 	0.338	 	 	 	0.350	 	 	 	0.361	 
	54 months	 	 	0.229	 	 	 	0.251	 	 	 	0.272	 	 	 	0.291	 	 	 	0.307	 	 	 	0.323	 	 	 	0.337	 	 	 	0.350	 	 	 	0.361	 
	51 months	 	 	0.225	 	 	 	0.248	 	 	 	0.269	 	 	 	0.288	 	 	 	0.305	 	 	 	0.321	 	 	 	0.336	 	 	 	0.349	 	 	 	0.361	 
	48 months	 	 	0.220	 	 	 	0.243	 	 	 	0.265	 	 	 	0.285	 	 	 	0.303	 	 	 	0.320	 	 	 	0.335	 	 	 	0.349	 	 	 	0.361	 
	45 months	 	 	0.214	 	 	 	0.239	 	 	 	0.261	 	 	 	0.282	 	 	 	0.301	 	 	 	0.318	 	 	 	0.334	 	 	 	0.348	 	 	 	0.361	 
	42 months	 	 	0.208	 	 	 	0.234	 	 	 	0.257	 	 	 	0.278	 	 	 	0.298	 	 	 	0.316	 	 	 	0.333	 	 	 	0.348	 	 	 	0.361	 
	39 months	 	 	0.202	 	 	 	0.228	 	 	 	0.252	 	 	 	0.275	 	 	 	0.295	 	 	 	0.314	 	 	 	0.331	 	 	 	0.347	 	 	 	0.361	 
	36 months	 	 	0.195	 	 	 	0.222	 	 	 	0.247	 	 	 	0.271	 	 	 	0.292	 	 	 	0.312	 	 	 	0.330	 	 	 	0.346	 	 	 	0.361	 
	33 months	 	 	0.187	 	 	 	0.215	 	 	 	0.241	 	 	 	0.266	 	 	 	0.288	 	 	 	0.309	 	 	 	0.328	 	 	 	0.345	 	 	 	0.361	 
	30 months	 	 	0.179	 	 	 	0.208	 	 	 	0.235	 	 	 	0.261	 	 	 	0.284	 	 	 	0.306	 	 	 	0.326	 	 	 	0.345	 	 	 	0.361	 
	27 months	 	 	0.170	 	 	 	0.199	 	 	 	0.228	 	 	 	0.255	 	 	 	0.280	 	 	 	0.303	 	 	 	0.324	 	 	 	0.343	 	 	 	0.361	 
	24 months	 	 	0.159	 	 	 	0.190	 	 	 	0.220	 	 	 	0.248	 	 	 	0.274	 	 	 	0.299	 	 	 	0.322	 	 	 	0.342	 	 	 	0.361	 
	21 months	 	 	0.148	 	 	 	0.179	 	 	 	0.210	 	 	 	0.240	 	 	 	0.268	 	 	 	0.295	 	 	 	0.319	 	 	 	0.341	 	 	 	0.361	 
	18 months	 	 	0.135	 	 	 	0.167	 	 	 	0.200	 	 	 	0.231	 	 	 	0.261	 	 	 	0.289	 	 	 	0.315	 	 	 	0.339	 	 	 	0.361	 
	15 months	 	 	0.120	 	 	 	0.153	 	 	 	0.187	 	 	 	0.220	 	 	 	0.253	 	 	 	0.283	 	 	 	0.311	 	 	 	0.337	 	 	 	0.361	 
	12 months	 	 	0.103	 	 	 	0.137	 	 	 	0.172	 	 	 	0.207	 	 	 	0.242	 	 	 	0.275	 	 	 	0.306	 	 	 	0.335	 	 	 	0.361	 
	9 months	 	 	0.083	 	 	 	0.117	 	 	 	0.153	 	 	 	0.191	 	 	 	0.229	 	 	 	0.266	 	 	 	0.300	 	 	 	0.332	 	 	 	0.361	 
	6 months	 	 	0.059	 	 	 	0.092	 	 	 	0.130	 	 	 	0.171	 	 	 	0.213	 	 	 	0.254	 	 	 	0.292	 	 	 	0.328	 	 	 	0.361	 
	3 months	 	 	0.030	 	 	 	0.060	 	 	 	0.100	 	 	 	0.145	 	 	 	0.193	 	 	 	0.240	 	 	 	0.284	 	 	 	0.324	 	 	 	0.361	 
	0 months	 	 	0.000	 	 	 	0.000	 	 	 	0.042	 	 	 	0.115	 	 	 	0.179	 	 	 	0.233	 	 	 	0.281	 	 	 	0.324	 	 	 	0.361	 



 






    6


     


    

 


For
example, if the average last reported sale price of Common Stock for the 10 trading days ending on the third trading date prior to
the date on which the notice of redemption is sent to the holders of the Warrants is $11 per share, and at such time there are 57 months
until the expiration of the Warrants, holders may choose to, in connection with this redemption feature, exercise their Warrants for 0.255 shares
of Common Stock for each whole Warrant. However, the exact fair market value and redemption date may not be set forth in the table above,
in which case, if the fair market value is between two values in the table or the redemption date is between two redemption dates in the
table, the number of shares of Common Stock to be issued for each Warrant exercised will be determined by a straight-line interpolation
between the number of shares set forth for the higher and lower fair market values and the earlier and later redemption dates, as applicable,
based on a 365- or 366-day year, as applicable. For an example where the exact fair market value and redemption date are not as set
forth in the table above, if the average last reported sale price of Common Stock for the 10 trading days ending on the third trading
date prior to the date on which the notice of redemption is sent to the holders of the Warrants is $13.50 per share, and at such time
there are 38 months until the expiration of the Warrants, holders may choose to, in connection with this redemption feature, exercise
their Warrants for 0.284 shares of Common Stock for each whole Warrant. In no event will the Warrants be exercisable in connection
with this redemption feature for more than 0.361 shares of Common Stock per Warrant. Once the average last reported sale price of
Common Stock exceeds $18.00, we will have the option to redeem the Warrants using this method or as described above under the heading
“Redemption of Warrants when the price per share of Common Stock equals or exceeds $18.00.”


 


This
redemption feature differs from the typical Warrant redemption features used in other blank check companies, which typically only provide
for a redemption of Warrants only when the trading price for the Common Stock exceeds $18.00 per share for a specified period of time.
This redemption feature is structured to allow for all of the outstanding Warrants to be redeemed when the Common Stock is trading at
or above $10.00 per share, which may be at a time when the trading price of Common Stock is below the exercise price of the Warrants.
We have established this redemption feature to provide us with the flexibility to redeem the Warrants without the Warrants having to reach
the $18.00 per share threshold set forth above under “— Redemption of Warrants when the price per share of Common
Stock equals or exceeds $18.00.” Holders choosing to exercise their Warrants in connection with a redemption pursuant to this
feature will, in effect, receive a number of shares representing the applicable redemption price for their Warrants based on an option
pricing model with a fixed volatility input as of the date of this prospectus. This redemption right provides us with an additional mechanism
by which to redeem all of the outstanding Warrants, and therefore have certainty as to our capital structure. As such, we would redeem
the Warrants in this manner when we believe it is in our best interest to update our capital structure to remove the Warrants.


 


As
stated above, we can redeem the Warrants when the Common Stock is trading at a price starting at $10.00, which is below the exercise price
of $11.50, because it will provide certainty with respect to our capital structure and cash position while providing warrant holders with
the opportunity to exercise their Warrants on a cashless basis for the applicable number of shares. If we choose to redeem the Warrants
when the Common Stock is trading at a price below the exercise price of the Warrants, this could result in the Warrant holders receiving
fewer shares of Common Stock than they would have received if they had exercised their Warrants for shares of Common Stock if and when
the Common Stock trades at a price higher than the exercise price of $11.50. As stated above, we can redeem the warrants when the Common
Stock is trading at a price starting at $10.00, which is below the exercise price of $11.50, because it will provide certainty with respect
to our capital structure and cash position while providing Warrant holders with the opportunity to exercise their Warrants on a cashless
basis for the applicable number of shares. If we choose to redeem the Warrants when the Common Stock is trading at a price below the exercise
price of the Warrants, this could result in the warrant holders receiving fewer shares of Common Stock than they would have received if
they had exercised their Warrants for shares of Common Stock if and when the Common Stock trades at a price higher than the exercise price
of $11.50.


 






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No
fractional shares of Common Stock will be issued upon exercise of the Warrants. If, upon exercise, a holder would be entitled to receive
a fractional interest in a share, we will round up to the nearest whole number of the number of shares of Common Stock to be issued to
the holder. If, at the time of redemption, the Warrants are exercisable for a security other than the shares of Common Stock pursuant
to the Warrant Agreement, the Warrants may be exercised for such security. At such time as the Warrants become exercisable for a security
other than the shares of Common Stock, the Company (or surviving company) will use its commercially reasonable efforts to register under
the Securities Act the security issuable upon the exercise of the Warrants.


 


Exercise
Limitations.    A holder of a Warrant may notify us in writing in the event it elects to be subject to a requirement
that such holder will not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person
(together with such person’s affiliates), to the Warrant agent’s actual knowledge, would beneficially own in excess of 4.8%
or 9.8% (or such other amount as a holder may specify) of the shares of Common Stock outstanding immediately after giving effect to such
exercise.


 


Anti-Dilution Adjustments.    If
the number of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up of
shares of Common Stock or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the
number of shares of Common Stock issuable on exercise of each Warrant will be increased in proportion to such increase in the outstanding
shares of Common Stock. A rights offering to holders of Common Stock entitling holders to purchase shares of Common Stock at a price less
than the fair market value will be deemed a stock dividend of a number of shares of Common Stock equal to the product of (i) the
number of shares of Common Stock sold in such rights offering (or issuable under any other equity securities sold in such rights offering
that are convertible into or exercisable for Common Stock) multiplied by (ii) one (1) minus the quotient of (x) the price
per share of Common Stock paid in such rights offering divided by (y) the fair market value. For these purposes (i) if the rights
offering is for securities convertible into or exercisable for Common Stock, in determining the price payable for Common Stock, there
will be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion
and (ii) fair market value means the volume weighted average price of Common Stock as reported during the ten (10)-trading-day period
ending on the trading day prior to the first date on which the shares of Common Stock trade on the applicable exchange or in the
applicable market, regular way, without the right to receive such rights.


 


In
addition, if we, at any time while the Warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities
or other assets to the holders of Common Stock on account of such shares of Common Stock (or other shares of our capital stock into which
the warrants are convertible), other than (a) as described above and (b) certain ordinary cash dividends, then the Warrant exercise
price will be decreased, effective immediately after the effective date of such event, by the amount of cash and/or the fair market value
of any securities or other assets paid on each share of Common Stock in respect of such event.


 


If
the number of outstanding shares of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification
of shares of Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split,
reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant will be decreased in proportion
to such decrease in outstanding shares of Common Stock. Whenever the number of shares of Common Stock purchasable upon the exercise of
the Warrants is adjusted, as described above, the Warrant exercise price will be adjusted by multiplying the Warrant exercise price immediately
prior to such adjustment by a fraction (x) the numerator of which will be the number of shares of Common Stock purchasable upon the
exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which will be the number of shares of Common
Stock so purchasable immediately thereafter.


 






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In
case of any reclassification or reorganization of the outstanding shares of Common Stock (other than those described above or that solely
affects the par value of such shares of Common Stock), or in the case of any merger or consolidation of us with or into another corporation
(other than a consolidation or merger in which we are the continuing corporation and that does not result in any reclassification or reorganization
of our outstanding shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or
other property of us as an entirety or substantially as an entirety in connection with which we are dissolved, the holders of the Warrants
will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and
in lieu of the shares of our Common Stock immediately theretofore purchasable and receivable upon the exercise of the rights represented
thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the Warrants would
have received if such holder had exercised their Warrants immediately prior to such event. If less than 70% of the consideration receivable
by the holders of Common Stock in such a transaction is payable in the form of common stock in the successor entity that is listed for
trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading
or quoted immediately following such event, and if the registered holder of the Warrant properly exercises the Warrant within thirty (30)
days following public disclosure of such transaction, the Warrant exercise price will be reduced as specified in the Warrant Agreement
based on the Black-Scholes value (as defined in the Warrant Agreement) of the Warrant.


 


The
Warrant holders do not have the rights or privileges of holders of Common Stock or any voting rights until they exercise their Warrants
and receive shares of Common Stock. After the issuance of shares of Common Stock upon exercise of the Warrants, each holder will be entitled
to one (1) vote for each share held of record on all matters to be voted on by stockholders.


 


No
fractional shares will be issued upon exercise of the Warrants. If, upon exercise of the Warrants, a holder would be entitled to receive
a fractional interest in a share, we will, upon exercise, round up to the nearest whole number of shares of Common Stock to be issued
to the Warrant holder.


 


Private
Warrants


 


The
Private Warrants (including the Warrants that may be issued upon conversion of working capital loans and the Common Stock issuable upon
exercise of such Warrants) will not be transferable, assignable or salable until December 5, 2021 and they will not be redeemable by us
so long as they are held by the initial purchasers or their permitted transferees (except as described under “Description of
Securities — Public Warrants — Redemption of Warrants when the price per share of Common Stock equals
or exceeds $10.00”). The initial purchasers, or their permitted transferees, have the option to exercise the Private Warrants
on a cashless basis and the initial purchasers and their permitted transferees will also have certain registration rights related to the
Private Warrants (including the shares of Common Stock issuable upon exercise of the Private Warrants ), as described below. Otherwise,
the Private Warrants have terms and provisions that are identical to those of the Public Warrants, including as to exercise price, exercisability
and exercise period. If the Private Warrants are held by holders other than the initial purchasers or their permitted transferees, the
Private Warrants will be redeemable by us in all redemption scenarios and exercisable by the holders on the same basis as the Public Warrants.
Each of the Warrants that may be issued upon conversion of working capital loans shall be identical to the Private Warrants.


 


If
holders of the Private Warrants elect to exercise them on a cashless basis other than in connection with the above $10.00 redemption,
they would pay the exercise price by surrendering their warrants for that number of shares of Common Stock equal to the quotient obtained
by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the excess of the “private
warrant fair market value” (defined below) over the exercise price of the Warrants by (y) the private warrant fair market value.
The “private warrant fair market value” shall mean the average last reported sale price of the Common Stock for the ten (10) trading
days ending on the third trading day prior to the date on which the notice of Warrant exercise is sent to the Warrant agent. The
reason that we have agreed that these Warrants will be exercisable on a cashless basis so long as they are held by the initial purchasers
or their permitted transferees is because it is not known at this time whether they will be affiliated with us following the Closing.
If they remain affiliated with us, their ability to sell our securities in the open market will be significantly limited. We expect to
have policies in place that prohibit insiders from selling our securities except during specific periods of time. Even during such periods
of time when insiders will be permitted to sell our securities, an insider cannot trade in our securities if he or she is in possession
of material non-public information. Accordingly, unlike public stockholders who could sell the shares of Common Stock issuable upon
exercise of the Warrants freely in the open market, the insiders could be significantly restricted from doing so. As a result, we believe
that allowing the holders to exercise such Warrants on a cashless basis is appropriate.


 


 


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