Exhibit 4.2


 


THIS WARRANT AND THE SECURITIES
ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED
FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD
IN ACCORDANCE WITH RULE 144 UNDER SUCH ACT.


 


	WARRANT NO. 2022-1	NUMBER OF SHARES: [   ]








	DATE OF ISSUANCE:	[   ]	 
	EXPIRATION DATE:	[   ]	 



 


 


FORM OF WARRANT TO PURCHASE SHARES


OF COMMON STOCK OF


 


AELUMA, INC.


 


This Warrant is issued to
[   ], or its registered assigns (including any successors or assigns, the “Warrantholder”), by Aeluma, Inc.,
a Delaware corporation (the “Company”), pursuant to that certain agreement dated December 9, 2022 by and between the
Company and [   ].


 


1.   EXERCISE
OF WARRANT.


 


(a)   Number
and Exercise Price of Warrant Shares; Expiration Date. Subject to the terms and conditions set forth herein at any time beginning
on or after the date hereof (the “Date of Issuance”) and ending on or before 5:00 p.m. New York City time on the fifth
anniversary of the Date of Issuance (the “Expiration Date”), the Warrantholder is entitled to purchase from the Company
up to [   ] shares of the Company’s Common Stock, $0.0001 par value per share (the “Common Stock”) (as adjusted
from time to time pursuant to the provisions of this Warrant) (the “Warrant Shares”), at a purchase price of $3.00
per share (the “Exercise Price”) (subject to earlier termination of this Warrant as set forth herein).


 


(b)   Method
of Exercise. While this Warrant remains outstanding and exercisable in accordance with Section 1(a) above, the Warrantholder
may exercise this Warrant in accordance with Section 5 herein, by either:


 


(1)   wire
transfer to the Company or cashier’s check drawn on a United States bank made payable to the order of the Company, or


 


(2)   exercising
of the right to credit the Exercise Price against the Fair Market Value of the Warrant Shares (as defined below) at the time of exercise
(the “Net Exercise”) pursuant to Section 1(c).


 


Notwithstanding anything herein
to the contrary, the Warrantholder shall not be required to physically surrender this Warrant to the Company until the Warrantholder has
purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Warrantholder shall
surrender this Warrant to the Company for cancellation within three (3) trading days of the date the final Notice of Exercise is delivered
to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available
hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable
number of Warrant Shares purchased. The Warrantholder and the Company shall maintain records showing the number of Warrant Shares purchased
and the date of such purchases.


 






     


     


    

 


(c)   Net
Exercise. If the Company shall receive written notice from the Warrantholder at the time of exercise of this Warrant that the holder
elects to Net Exercise the Warrant, the Company shall deliver to such Warrantholder (without payment by the Warrantholder of any exercise
price in cash) that number of Warrant Shares computed using the following formula:


 


X =   Y (A - B)


   A


 


Where


 


		X =	The number of Warrant Shares to be issued to the Warrantholder.



 


		Y =	The number of Warrant Shares purchasable under this Warrant or, if only a portion of this Warrant is being exercised, the number of
Warrant Shares for which this Warrant is being exercised.



 


		A =	The Fair Market Value of one (1) share of Common Stock on the trading date immediately preceding the date on which Warrantholder elects
to exercise this Warrant.



 


		B =	The Exercise Price (as adjusted hereunder).



 


The “Fair Market
Value” of one share of Common Stock shall mean (x) the last reported sale price and, if there are no sales, the last reported
bid price, of the Common Stock on the business day prior to the date of exercise on the Trading Market on which the Common Stock is then
listed or quoted as reported by Bloomberg Financial Markets (or a comparable reporting service of national reputation selected by the
Company and reasonably acceptable to the holder if Bloomberg Financial Markets is not then reporting sales prices of the Common Stock)
(collectively, “Bloomberg”), (y) if the foregoing does not apply, the last sales price of the Common Stock in the over-the-counter
market on the pink sheets or bulletin board for such security as reported by Bloomberg, and, if there are no sales, the last reported
bid price of the Common Stock as reported by Bloomberg or, (z) if fair market value cannot be calculated as of such date on either of
the foregoing bases, the price determined in good faith by the Company’s Board of Directors.


 


“OTC Markets”
shall mean either OTC QX or OTC QB of the OTC Markets Group, Inc.


 


“Trading Market”
shall mean any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question:
the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange or
the OTC Markets (or any successors to any of the foregoing).


 


(d)   Deemed
Exercise. In the event that immediately prior to the close of business on the Expiration Date, the Fair Market Value of one share
of Common Stock (as determined in accordance with Section 1(c) above) is greater than the then applicable Exercise Price, this
Warrant shall be deemed to be automatically exercised on a net exercise issue basis pursuant to Section 1(c) above, and the Company
shall deliver the applicable number of Warrant Shares to the Warrantholder pursuant to the provisions of Section 1(c) above and
this Section 1(d).


 






    - 2 -


     


    

 


2.   CERTAIN
ADJUSTMENTS.


 


(a)   Adjustment
of Number of Warrant Shares and Exercise Price. The number and kind of Warrant Shares purchasable upon exercise of this Warrant and
the Exercise Price shall be subject to adjustment from time to time as follows:


 


(1)   Subdivisions,
Combinations and Other Issuances. If the Company shall at any time after the Date of Issuance but prior to the Expiration Date subdivide
its shares of capital stock of the same class as the Warrant Shares, by split-up or otherwise, or combine such shares of capital stock,
or issue additional shares of capital stock as a dividend with respect to any shares of such capital stock, or effect any forward stock
split or reverse stock split of its capital stock of the same class as the Warrant Shares, the number of Warrant Shares issuable on the
exercise of this Warrant shall forthwith be proportionately increased in the case of a subdivision, stock dividend or forward stock split,
or proportionately decreased in the case of a reverse stock split or other combination. Appropriate adjustments shall also be made to
the Exercise Price payable per share, but the aggregate Exercise Price payable for the total number of Warrant Shares purchasable under
this Warrant (as adjusted) shall remain the same. Any adjustment under this Section 2(a)(1) shall become effective at the close
of business on the date the subdivision or combination becomes effective, or as of the record date of such dividend, or in the event that
no record date is fixed, upon the making of such dividend.


 








(2)   Reclassification,
Reorganizations and Consolidation. In case of any reclassification, capital reorganization or change in the capital stock of the Company
(other than as a result of a subdivision, combination or stock dividend provided for in Section 2(a)(1) above) that occurs after
the Date of Issuance, then, as a condition of such reclassification, reorganization or change, lawful provision shall be made, and duly
executed documents evidencing the same from the Company or its successor shall be delivered to the Warrantholder, so that the Warrantholder
shall thereafter have the right at any time prior to the Expiration Date to purchase, at a total price equal to that payable upon the
exercise of this Warrant, the kind and amount of shares of stock and/or other securities or property (including, if applicable, cash)
receivable in connection with such reclassification, reorganization or change by a holder of the same number and type of securities as
were purchasable as Warrant Shares by the Warrantholders immediately prior to such reclassification, reorganization or change. In any
such case appropriate provisions shall be made with respect to the rights and interest of the Warrantholder so that the provisions hereof
shall thereafter be applicable with respect to any shares of stock or other securities or property deliverable upon exercise hereof, and
appropriate adjustments shall be made to the Exercise Price payable hereunder, provided the aggregate Exercise Price shall remain the
same (and, for the avoidance of doubt, this Warrant shall be exclusively exercisable for such shares of stock and/or other securities
or property from and after the consummation of such reclassification or other change in the capital stock of the Company).


 


(b)
Notice to Warrantholder. If, while this Warrant is outstanding, the Company (i) declares a dividend or any other distribution of
cash, securities or other property in respect of its Common Stock, including, without limitation, any granting of rights or warrants to
subscribe for or purchase any capital stock of the Company or any subsidiary, (ii) authorizes or approves, enters into any agreement contemplating
or solicits stockholder approval for any Fundamental Transaction or (iii) authorizes the voluntary dissolution, liquidation or winding
up of the affairs of the Company, then the Company shall deliver to the Warrantholder a notice of such transaction at least ten (10) business
days prior to the applicable record or effective date on which a person would need to hold Common Stock in order to participate in or
vote with respect to such transaction; provided, however, that the failure to deliver such notice or any defect therein shall not affect
the validity of the corporate action required to be described in such notice.


 


(c)   Calculations.
All calculations under this Section 2 shall be made to the nearest cent or the nearest whole share, as the case may be. For purposes
of this Section 2, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum
of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.


 






    - 3 -


     


    

 


(d)   Treatment
of Warrant upon a Fundamental Transaction.


 


(1)   If,
at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any
merger or consolidation of the Company with or into another person, (ii) the Company, directly or indirectly, effects any sale, lease,
license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related
transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another person)
is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash
or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly,
in one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory
share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, (v)
the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business
combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another person
or group of persons whereby such other person or group acquires more than 50% of the outstanding shares of Common Stock (not including
any shares of Common Stock held by the other person or other persons making or party to, or associated or affiliated with the other persons
making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”),
then, upon any subsequent exercise of this Warrant, the Warrantholder shall have the right to receive, for each Warrant Share that would
have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Warrantholder,
the number, class, and series of shares of stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation,
and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction
by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction. 
For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction,
and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value
of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities,
cash or property to be received in a Fundamental Transaction, then the Warrantholder shall be given the same choice as to the Alternate
Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company shall cause any
successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to
assume in writing all of the obligations of the Company under this Warrant and the other transaction documents in accordance with the
provisions of this Section 2(d)(1) pursuant to written agreements in form and substance reasonably satisfactory to the Warrantholder
and approved by the Warrantholder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Warrantholder,
deliver to the Warrantholder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially
similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor
Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without
regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies
the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock
pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such
exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental
Transaction), and which is reasonably satisfactory in form and substance to the Warrantholder. Upon the occurrence of any such Fundamental
Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction,
the provisions of this Warrant and the other transaction documents referring to the “Company” shall refer instead to the Successor
Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant
and the other transaction documents with the same effect as if such Successor Entity had been named as the Company herein.


 






    - 4 -


     


    

 


3.   NO
FRACTIONAL SHARES. No fractional Warrant Shares or scrip representing fractional shares will be issued upon exercise of this Warrant.
In lieu of any fractional shares which would otherwise be issuable, the Company shall pay cash equal to the product of such fraction multiplied
by the Fair Market Value of one Warrant Share.


 


4.   NO
STOCKHOLDER RIGHTS. Until the exercise of this Warrant or any portion of this Warrant, the Warrantholder shall not have, nor exercise,
any rights as a stockholder of the Company (including without limitation the right to notification of stockholder meetings or the right
to receive any notice or other communication concerning the business and affairs of the Company) except as provided in Section 8 below.


 


5.   MECHANICS
OF EXERCISE.


 


(a)   Delivery
of Warrant Shares Upon Exercise. This Warrant may be exercised by the holder hereof, in whole or in part, by delivering to the Company
(or such other office or agency of the Company as it may designate by notice in writing to the registered Warrantholder at the address
of the Warrantholder appearing on the books of the Company) of a duly completed and executed copy of the Notice of Exercise in the form
attached hereto as Exhibit A by facsimile or e-mail attachment and paying the Exercise Price (unless the Warrantholder has elected
to Net Exercise) then in effect with respect to the number of Warrant Shares as to which the Warrant is being exercised. This Warrant
shall be deemed to have been exercised immediately prior to the close of business on the date of the delivery to the Company of the Notice
of Exercise as provided above, and the person entitled to receive the Warrant Shares issuable upon such exercise shall be treated for
all purposes as the holder of such shares of record as of the close of business on such date. Warrant Shares purchased hereunder shall
be transmitted by the Company’s transfer agent to the holder by crediting the account of the holder’s prime broker with The
Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant
in such system and either (A) there is an effective registration statement covering the resale of the Warrant Shares by the holder and
the Warrantholder has certified to the Company that it will sell or otherwise dispose of the Warrant Shares in accordance with the plan
of distribution set forth in such registration statement, (B) the shares are eligible for resale by the holder pursuant to Rule 144 and
the Warrantholder has certified to the Company that it has sold the Warrant Shares in accordance with the requirements of such Rule, or
(C) the shares have been exercised on a cashless basis and are eligible for resale by the holder pursuant to Rule 144 without volume,
or manner of sale limitations, and otherwise in book entry form or by physical delivery to the address specified by the holder in the
Notice of Exercise by the end of the day (such date, the “Warrant Share Delivery Date”) on the date that is not more
than two (2) trading days from the date of delivery to the Company of the Notice of Exercise and payment of the aggregate Exercise Price
(unless exercised by means of a cashless exercise pursuant to Section 1(c)). The Warrant Shares shall be deemed to have been issued,
and the holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares
for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the Exercise Price (or by Net Exercise)
and all taxes required to be paid by the holder, if any, prior to the issuance of such shares, having been paid.


 


(b)   Rescission
Rights. Notwithsatnding Section 5(a) above, if the Company fails to cause the transfer agent to transmit to the Warrantholder the
Warrant Shares pursuant to Section 5(a) by the Warrant Share Delivery Date, then the Warrantholder will have the right to rescind such
exercise.


 


6.   CERTIFICATE
OF ADJUSTMENT. Whenever the Exercise Price or number or type of securities issuable upon exercise of this Warrant is adjusted, as herein
provided, the Company shall, at its expense, promptly deliver to the Warrantholder a certificate of an officer of the Company setting
forth the nature of such adjustment and showing in detail the facts upon which such adjustment is based.


 


7.   COMPLIANCE
WITH SECURITIES LAWS.


 


(a)   The
Warrantholder understands that this Warrant and the Warrant Shares are characterized as “restricted securities” under the
federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that
under such laws and applicable regulations this Warrant and the Warrant Shares may be resold without registration under the Securities
Act only in certain limited circumstances. In this connection, the Warrantholder represents that it is familiar with Rule 144 under the
Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act. The Warrantholder
represents, covenants and agrees that as of the date hereof, it is, and on each date on which it exercises the Warrants it will be, an
“accredited investor” as defined in Rule 501(a) under the Securities Act.


 








(b)   Prior
and as a condition to the sale or transfer of the Warrant Shares issuable upon exercise of this Warrant, the Warrantholder shall furnish
to the Company such certificates, representations, agreements and other information, including an opinion of counsel, as the Company or
the Company’s transfer agent reasonably may require to confirm that such sale or transfer is being made pursuant to an exemption
from, or in a transaction not subject to, the registration requirements of the Securities Act, unless such Warrant Shares are being sold
or transferred pursuant to an effective registration statement.


 






    - 5 -


     


    

 


(c)   The
Warrantholder acknowledges that the Company may place a restrictive legend on the Warrant Shares issuable upon exercise of this Warrant
in order to comply with applicable securities laws, in substantially the following form and substance, unless such Warrant Shares are
freely tradeable under Rule 144 under the Securities Act,without restriction, or the Warrant Shares may be resold pursuant to an effective
registration statement and the Warrantholder has executed a legend removal certificate in the form of Exhibit A to the Registration Rights
Agreement.:


 


“THE SECURITIES REPRESENTED BY
THIS BOOK-ENTRY POSITION HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “SECURITIES ACT”), OR ANY
STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED
UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES
LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL, WHICH COUNSEL AND OPINION
ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER
CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR APPLICABLE STATE SECURITIES LAWS.”


 


8.   REPLACEMENT
OF WARRANTS. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant
and, in the case of any such loss, theft or destruction of this Warrant, on delivery of an indemnity agreement reasonably satisfactory
in form and amount to the Company or, in the case of any such mutilation, on surrender and cancellation of such Warrant, the Company at
its expense will execute and deliver, in lieu thereof, a new Warrant of like tenor.


 


9.   NO
IMPAIRMENT. Except to the extent as may be waived by the holder of this Warrant, the Company will not, by amendment of its charter or
through a Fundamental Transaction, dissolution, sale of assets or any other voluntary action, avoid or seek to avoid the observance or
performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and
in the taking of all such action as may be necessary or appropriate in order to protect the rights of the Warrantholder against impairment.


 


10.   TRADING
DAYS. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be other
than a day on which the Common Stock is traded on the Trading Market, then such action may be taken or such right may be exercised on
the next succeeding day on which the Common Stock is so traded.


 














11.   TRANSFERS;
EXCHANGES.


 


(a)   Subject
to compliance with applicable federal and state securities laws and Section 7 hereof, this Warrant may be transferred by the Warrantholder
to any Affiliate (as defined below)at any time and may be transferred to any person upon the listing of the Common Stock on Nasdaq or
any other national securities exchange with respect to any or all of the Warrant Shares purchaseable (each, a “Permitted Transfer”).
For a transfer of this Warrant as an entirety by the Warrantholder, upon surrender of this Warrant to the Company, together with the Notice
of Assignment in the form attached hereto as Exhibit B duly completed and executed on behalf of the Warrantholder, the Company
shall issue a new Warrant of the same denomination to the assignee. For a transfer of this Warrant with respect to a portion of the Warrant
Shares purchasable hereunder, upon surrender of this Warrant to the Company, together with the Notice of Assignment in the form attached
hereto as Exhibit B duly completed and executed on behalf of the Warrantholder, the Company shall issue a new Warrant to the assignee,
in such denomination as shall be requested by the Warrantholder, and shall issue to the Warrantholder a new Warrant covering the number
of shares in respect of which this Warrant shall not have been transferred. The term “Affiliate” as used herein means,
with respect to any person, any other person that, directly or indirectly through one or more intermediaries, controls, is controlled
by or is under common control with such person, and any officers, employees or partners of the Warrantholder.


 






    - 6 -


     


    

 


(b)   Upon
any Permitted Transfer, the Warrantholder may exchange this Warrant for new Warrants, in substantially the form of this Warrant, evidencing
in the aggregate the right to purchase the number of Warrant Shares which may then be purchased hereunder, each of such new Warrants to
represent the right to purchase such number of Warrant Shares as shall be designated by the Warrantholder. The Warrantholder shall surrender
this Warrant with duly executed instructions regarding such re-certification of this Warrant to the Secretary of the Company at its principal
offices or at such other office or agency as the Company may specify in writing to the Warrantholder.The term “Warrants”
as used herein includes any warrants into which this Warrant may be divided or exchanged.


 


12.   VALID
ISSUANCE; AUTHORIZED SHARES. The Company hereby represents, covenants and agrees that: (i) this Warrant is, and any Warrant issued in
substitution for or replacement of this Warrant shall be, upon issuance, a valid and legally binding obligation of the Company, enforceable
against the Company in accordance with its terms; (ii) the issuance of this Warrant shall constitute full authority to the Company’s
officers who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant;
(iii) all Warrant Shares issuable upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares
in accordance herewith shall be, upon issuance, validly issued, fully paid and non-assessable, issued without violation of any preemptive
or similar rights of any stockholder of the Company and free and clear of all taxes, liens and charges created by the Company in respect
of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue); and (iv) during the period
the Warrant is outstanding, the Company shall reserve from its authorized and unissued Common Stock a sufficient number of shares to provide
for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.


 


13.   REGISTRATION
RIGHTS. The Warrantholder is a party to the Registration Rights Agreement dated [ ] (the “Registration Rights Agreement”)
among the Company, the Warrantholder, other Warrantholders and persons who purchased Common Stock in the Company’s private offering
of up to $8,000,000 of Common Stock (inclusive of a $1,000,000 over-subscription option) under which the resale of the Warrant Shares
is to be registered and has all of the rights and oblgations provided for therein.


 


14.   MISCELLANEOUS.


 


(a)   This
Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to New York conflicts
of law principles. Any judicial proceeding brought under this Agreement or any dispute arising out of this Agreement or any matter related
hereto shall be brought in the courts of the State of New York, New York County, or in the United States District Court for the Southern
District of New York.


 


(b)   All
notices, requests, consents and other communications hereunder shall be in writing, shall be sent by confirmed facsimile or electronic
mail, or mailed by first-class registered or certified airmail, or nationally recognized overnight express courier, postage prepaid, and
shall be deemed given when so sent in the case of facsimile or electronic mail transmission, or when so received in the case of mail or
courier, and addressed as follows: (a) if to the Company, to, Aeluma, Inc., 27 Castillian Drive, Goleta, CA 93117 , Attention: Jonathan
Klamkin, CEO, E-mail:[ ], with a copy to (which shall not constitute notice) Hunter Taubman Fischer & Li LLC, 48 Wall Street, Suite
1100, New York, NY 10005, Attention: Lou Taubman,E-mail:[ ]; and (b) if to the Warrantholder, at such address or addresses (including
copies to counsel) as set forth below.


 


(c)   The
invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provisions.


 


[Signature Page Follows]


 




    - 7 -


     


    

 


IN WITNESS WHEREOF, this
Common Stock Purchase Warrant is issued effective as of the date first set forth above.


 





	 	AELUMA, INC.
	 	 
	 	By:	 
	 	 	Name: Jonathan Klamkin
	 	 	Title: Chief Executive Officer


  




    - 8 -


     


    

 


EXHIBIT A


 


NOTICE OF EXERCISE


(To be signed only upon exercise of Warrant)


 


To: Aeluma, Inc.


 


The undersigned, the Warrantholder
of the attached Warrant, hereby irrevocably elects to exercise the purchase right represented by such Warrant for, and to purchase thereunder,
_______________ (__________) shares of Common Stock of Aeluma, Inc. and (choose one)


 


__________ herewith makes payment of
__________ dollars ($__________) thereof


 


or


 


__________ elects to Net Exercise the
Warrant pursuant to Section 1(b)(2) thereof.


 


The undersigned requests that
the certificates or book entry position evidencing the shares to be acquired pursuant to such exercise be issued in the name of, and delivered
to _____________________________________________, whose address is ___________________________________________________________________________.


 


By its signature below the
undersigned hereby represents and warrants that it is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated
under the Securities Act of 1933, as amended, and agrees to be bound by the terms and conditions of the attached Warrant as of the date
hereof, including Section 7 thereof.


 


DATED:


 


	 	(Signature must conform in all respects to name of the Warrantholder as specified on the face of the Warrant)
	 	 
	 	 
	 	[_____________]
	 	 
	 	Address:	             
	 	 
	 	 



 




    Exhibit A-1


     


    

 


EXHIBIT B


 


NOTICE OF ASSIGNMENT FORM


 


FOR VALUE RECEIVED, [__________]
(the “Assignor”) hereby sells, assigns and transfers all of the rights of the undersigned Assignor under the attached
Warrant with respect to the number of shares of common stock of Aeluma, Inc. (the “Company”) covered thereby set forth
below, to the following “Assignee” and, in connection with such transfer, represents and warrants to the Company that
the transfer is in compliance with Section 7 of the Warrant and applicable federal and state securities laws:


 


	 NAME OF ASSIGNEE	 	ADDRESS/FAX NUMBER
	 	 	 
	Number of shares:	 	 	Signature:	 
	Dated:	 	 	Witness:	            






 





 




    Exhibit B-1


     


    

 


ASSIGNEE ACKNOWLEDGMENT


 


The undersigned Assignee acknowledges
that it has reviewed the attached Warrant and by its signature below it hereby represents and warrants that it is an “accredited
investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended, and agrees to be bound
by the terms and conditions of the Warrant as of the date hereof, including Section 7 thereof.


 


		 	Signature:	 
	 	 	 
		 	By:	           
		 	Its:	 
	 	 	 
	Address:	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	E-Mail Address:	 	 
	 	 	 
	 	 	 



 





 


Exhibit B-2