# EDGAR Filing Document

**Accession Number:** 0001831978
**File Stem:** 0001104659-23-037174
**Filing Date:** 2023-3
**Character Count:** 28375
**Document Hash:** eec21a065c74a94bf4367f138a0fc5c2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-037174.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001104659-23-037174

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230321

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Submission of Matters to a Vote of Security Holders

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Newbury Street Acquisition Corp
- **CENTRAL INDEX KEY:** 0001831978
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40251
- **FILM NUMBER:** 23765231

**BUSINESS ADDRESS:**
- **STREET 1:** 121 HIGH STREET FLOOR 3
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 16178943057

**MAIL ADDRESS:**
- **STREET 1:** 121 HIGH STREET FLOOR 3
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

?xml version="1.0" encoding="utf-8"?

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM 8-K**

**CURRENT REPORT**

**Pursuant** **to Section 13 or 15(d)**

**of the** **Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported): March 21, 2023**

**Newbury Street Acquisition Corporation**

**(Exact Name of Registrant as Specified in Charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40251** | **85-3985188** |
| **(State or Other Jurisdiction<br> of Incorporation)** | **(Commission<br> File Number)** | **(IRS Employer<br> Identification No.)** |

---

---

| | |
|:---|:---|
| **121 High Street, Floor 3** |  |
| **Boston, MA** | **02110** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

 **(617) 893-3057**

**(Registrant's telephone number, including area code)**

**Not Applicable** 

**(Former Name or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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| |
|:---|
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

---

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading <br> Symbol(s)** | **Name of each exchange <br> on which registered** |
| **Units, each consisting of one share of Common Stock and one-half of one redeemable warrant** | **NBSTU** | **The Nasdaq Stock Market LLC** |
| **Common Stock, par value $0.0001 per share** | **NBST** | **The Nasdaq Stock Market LLC** |
| **Warrants, each exercisable for one share of Common Stock for $11.50** | **NBSTW** | **The Nasdaq Stock Market LLC** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Item 1.01. Entry into a Material Definitive Agreement.**

The disclosure contained in Item 5.07 of this Current Report on Form 8-K is incorporated herein by reference.

**Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-balance Sheet Arrangement of a Registrant.**

The disclosure contained in Item 5.07 of this Current Report on Form 8-K is incorporated herein by reference.

 **Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**

The disclosure contained in Item 5.07 of this Current Report on Form 8-K is incorporated herein by reference.

 **Item 5.07. Submission of Matters to a Vote of Security Holders.**

**Special Meeting**

On March 21, 2023, Newbury Street Acquisition Corporation (the "Company") held a special meeting of stockholders (the "Special Meeting") to approve the Extension Proposal and the Adjournment Proposal, each as defined below and more fully described in the Company's definitive proxy statement, filed with the Securities and Exchange Commission on March 3, 2023 (the "Proxy Statement"). An aggregate of 13,365,174 shares of the Company's common stock, or 80.2% of the outstanding shares of common stock entitled to vote as of the record date of February 22, 2023, were represented in person or by proxy at the Special Meeting.

The following is a brief description of the final voting results for each of the proposals submitted to a vote at the Special Meeting:

*<u>Proposal 1 – The Extension Proposal</u>*

Stockholders approved the proposal to amend the Company's Second Amended and Restated Certificate of Incorporation to extend the date by which the Company must (1) consummate a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination (an "initial business combination"), (2) cease all operations except for the purpose of winding up if it fails to complete such initial business combination, and (3) redeem all of the shares of common stock, par value $0.0001 per share, of the Company ("Common Stock") included as part of the units sold in the Company's initial public offering (the "Public Shares") from March 25, 2023 to September 25, 2023 (the "Extension Proposal").

The final voting results for the Extension Proposal were as follows:

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| &nbsp;&nbsp;13,355,147 | &nbsp;&nbsp;10,027 | &nbsp;&nbsp;0 |

---

*<u>Proposal 2 – The Adjournment Proposal</u>*

Stockholders approved an adjournment of the Special Meeting to a later date or dates, if necessary or convenient, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of the Extension Proposal (the "Adjournment Proposal"). An adjournment of the Special Meeting was not necessary.

The final voting results for the Adjournment Proposal were as follows:

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| &nbsp;&nbsp;13,348,168 | &nbsp;&nbsp;17,006 | &nbsp;&nbsp;0 |

---

There were no broker non-votes in connection with the Extension Proposal and Adjournment Proposal.

**<u>Charter Amendment</u>**

On March 23, 2023, the Company filed an amendment to its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware (the "Charter Amendment") to extend the date by which the Company has to consummate a business combination to from March 25, 2023 to September 25, 2023.

The foregoing description of the Charter Amendment is qualified in its entirety by reference to the full text of the Charter Amendment, a copy of which is filed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated herein by reference.

**<u>Redemptions and Note</u>**

In connection with approval of the Extension Proposal, the holders of 7,744,085 shares of common stock of the Company properly exercised their right to redeem their shares for cash at a redemption price of approximately $10.17 per share, for an aggregate redemption amount of approximately $78,770,623. As a result, approximately $78,770,623 will be removed from the Company's trust account to pay such holders. Following redemptions, the Company will have 8,917,715 shares of common stock outstanding.

Also in connection with the approval of the Extension Proposal, Newbury Street Acquisition Sponsor LLC (the "Sponsor"), agreed to contribute to the Company as a note (i) the lesser of (a) an aggregate of $600,000 or (b) $0.04 for each Public Share on a monthly basis that is not redeemed in connection with the Extension Amendment for the portion of the Extension ending on June 23, 2023 (the "Initial Contribution"); plus, (ii) an aggregate of $200,000 per month (commencing on June 23, 2023 and on the 23<sup>rd</sup> day of each subsequent month) until September 25, 2023 (each, an "Extension Period"), or portion thereof, that is needed to complete an initial business combination, which amount will be deposited into the trust account.

On March 22, 2023, the Company amended and restated the promissory note dated November 23, 2020 (the "Amended Promissory Note") to increase the principal amount of up to $900,000 to up to $2,100,000, pursuant to which the Sponsor agreed to loan to the Company up to such amount.

On March 24, 2023, the Company deposited the Initial Contribution and will deposit an aggregate of $200,000 per month during each Extension Period, or portion thereof, that is needed to complete an initial business combination, which amount will be deposited into the trust account.

The Amended Promissory Note bears no interest and is repayable in full upon the earlier of (a) the date of the consummation of the initial business combination or (b) the date of the liquidation of the Company.

The issuance of the Amended Promissory Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

The foregoing description is qualified in its entirety by reference to the Amended Promissory Note, a copy of which is attached as Exhibit 10.1 hereto and is incorporate herein by reference.

**Item 9.01 Financial Statements and Exhibits.** 

(d) <u>Exhibits</u>:

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [3.1](tm2310280d1_ex3-1.htm) | [Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation of Newbury Street Acquisition Corporation, dated March 22, 2023.](tm2310280d1_ex3-1.htm) |
| [10.1](tm2310280d1_ex10-1.htm) | [Promissory Note issued to the Sponsor.](tm2310280d1_ex10-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURE** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: March 27, 2023

---

| | |
|:---|:---|
| **Newbury Street Acquisition Corporation** | **Newbury Street Acquisition Corporation** |
| By: | /s/ Thomas Bushey |
|  | Thomas Bushey |
|  | Chief Executive Officer |

---

## Exhibit 3.1

**Exhibit 3.1**

**CERTIFICATE OF AMENDMENT TO THE** 

**SECOND AMENDED AND RESTATED** 

**CERTIFICATE OF INCORPORATION** 

**OF**

**NEWBURY STREET ACQUISITION CORPORATION**

**Pursuant to Section 242 of the**

**Delaware General Corporation Law**

Newbury Street Acquisition Corporation, a corporation existing under the laws of the State of Delaware (the "**Corporation**"), by its Chief Executive Officer, hereby certifies as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The name of the Corporation is "Newbury Street Acquisition Corporation."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Corporation's Certificate of Incorporation was filed in the office of the Secretary of State of the State of Delaware on November 6, 2020. An Amended and Restated Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on January 15, 2021. A Second Amended and Restated Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on March 22, 2021 (the "**Second Amended and Restated Certificate of Incorporation**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation amends the Second Amended and Restated Certificate of Incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. This Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation was duly approved and adopted by the Board of Directors of the Corporation and the stockholders of the Corporation entitled to vote thereon at a meeting of stockholders, in each case in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The text of Section F of Article SIXTH of the Second Amended and Restated Certificate of Incorporation is hereby amended and restated to read in full as follows:

In the event that the Corporation does not consummate a Business Combination by 30 months after the consummation of the IPO (or, if the Office of the Delaware Division of Corporations shall not be open for business (including filing of corporate documents) on such date the next date upon which the Office of the Delaware Division of Corporations shall be open) (or such later date pursuant to the extension set forth under this paragraph, the "**Termination Date**"), the Corporation shall (i) cease all operations except for the purposes of winding up, (ii) as promptly as reasonably possible but not more than ten (10) business days thereafter, redeem 100% of the IPO Shares for cash for a redemption price per share equal to the amount then held in the Trust Account, less any interest for any income or other taxes payable, divided by the total number of IPO Shares then outstanding (which redemption will completely extinguish such holders' rights as stockholders, including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to approval of the Corporation's then stockholders and subject to the requirements of the DGCL, including the adoption of a resolution by the Board pursuant to Section 275(a) of the DGCL finding the dissolution of the Corporation advisable and the provision of such notices as are required by said Section 275(a) of the DGCL, dissolve and liquidate, subject (in the case of clauses (ii) and (iii) above) to the Corporation's obligations under the DGCL to provide for claims of creditors and other requirements of applicable law.

[Signature Page Follows]

IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation to be signed by Thomas Bushey, its Chief Executive Officer, as of the 22 day of March, 2023.

---

| | |
|:---|:---|
| **NEWBURY STREET ACQUISITION CORPORATION** | **NEWBURY STREET ACQUISITION CORPORATION** |
| By: | /s/ Thomas Bushey |
| Name: Thomas Bushey | Name: Thomas Bushey |
| Title: Chief Executive Officer | Title: Chief Executive Officer |

---

[Signature Page to Certificate of Amendment to Second Amended and Restated Certificate of Incorporation]

## Exhibit 10.1

**Exhibit 10.1**

THIS AMENDED AND RESTATED PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). THIS AMENDED AND RESTATED PROMISSORY NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

**AMENDED AND RESTATED PROMISSORY NOTE**

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| | |
|:---|:---|
|  | Dated as of March 22, 2023 |
| Principal Amount: Up to $2,100,000 | New York, New York |

---

This Amended and Restated Promissory Note (this "**Note**") amends and restates the Promissory Note, dated as of March 15, 2023 (the "**Existing Note**"), from Newbury Street Acquisition Corporation., a Delaware corporation ("**Maker**"), payable to the order of Newbury Street Acquisition Sponsor LLC, a Delaware limited liability company, or its registered assigns or successors in interest ("**Payee**"). The terms, conditions and provisions of the Existing Note are hereby amended and restated in their entirety effective as of the date hereof so that henceforth the terms, conditions and provisions of the Existing Note shall read and be as set forth in this Note and Maker agrees to comply with and be subject to all of the terms, covenants and conditions of this Note effective as of the date hereof. Maker hereby acknowledges and agrees that this Note evidences the outstanding principal balance evidenced by the Existing Note, as amended and restated pursuant to the immediately preceding sentence, together with any additional draw down on the principal of this Note. Neither this Note nor anything contained herein shall be construed as a substitution or novation of the outstanding principal balance evidenced by the Existing Note or of the Existing Note, which shall remain in full force and effect as hereby amended and restated. Maker promises to pay to the order of Payee, the principal sum of up to Two Million and One Hundred Thousand Dollars ($2,100,000.00) in lawful money of the United States of America, on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as Payee may from time to time designate by written notice in accordance with the provisions of this Note.

**1. Repayment.** The principal balance of this Note shall be payable by Maker on the earlier of (a) the date on which Maker consummates its initial business combination (the "**Business Combination**"), or (b) the date of the liquidation of the Maker. The principal balance may be prepaid at any time. Under no circumstances shall any individual, including but not limited to any officer, director, employee or stockholder of Maker, be obligated personally for any obligations or liabilities of Maker hereunder.

**2. Interest.** This Note shall be non-interest bearing.

**3. Drawdown Requests.** Maker and Payee agree that Maker may request up to Two Million and One Hundred Thousand Dollars ($2,100,000.00) for (i) costs reasonably related to Maker's initial business combination and (ii) in connection with the extension of time to consummate an initial business combination from March 25, 2023 to September 25, 2023 and the funds needed to appropriately fund the Maker's trust account (the "**Trust Account**"). The principal of this Note may be drawn down from time to time prior to the earlier of: (i) the date on which Maker consummates its initial business combination and (ii) the date that the winding up of Maker is effective, upon written request from Maker to Payee (each, a "**Drawdown Request**"). Each Drawdown Request must state the amount to be drawn down, and must not be an amount less than Ten Thousand Dollars ($10,000) unless agreed upon by Maker and Payee. Payee shall fund each Drawdown Request no later than five (5) business days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns collectively under this Note is Two Million and One Hundred Thousand Dollars ($2,100,000.00). Once an amount is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid. No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker. Notwithstanding the foregoing, all payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorneys' fees, and then to the reduction of the unpaid principal balance of this Note.

**4. Application of Payments.** All payments received by Payee pursuant to this Note shall be applied first to the payment in full of any costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney's fees, and then to the reduction of the unpaid principal balance of this Note.

**5. Events of Default.** The following shall constitute an event of default ("**Event of Default**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Failure to Make Required Payments</u>. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days of the Maturity Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Voluntary Bankruptcy, Etc</u>. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Involuntary Bankruptcy, Etc</u>. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days.

**6. Remedies.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately and payable, whereupon the unpaid principal amount of this Note and all other amounts payable hereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon the occurrence of an Event of Default specified in Sections 5(b) and 5(c) hereof, the unpaid principal balance of this Note and all other amounts payable hereunder, shall automatically and immediately become due and payable, in all cases without any action on the part of Payee.

**7. Waivers.** Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to this Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real or personal property that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

**8. Unconditional Liability.** Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker's liability hereunder.

**9. Notices.** All notices, statements or other documents which are required or contemplated by this Note shall be: (i) in writing and delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

**10. Construction.** THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF DELAWARE, WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS THEREOF.

**11. Severability.** Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

**12. Trust Waiver**. Notwithstanding anything herein to the contrary, Payee hereby waives any claim in or to any distribution of or from the Trust Account established in connection with Maker's initial public offering (the "**IPO**"), and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any claim against the Trust Account for any reason whatsoever; provided, however, that upon the consummation of the initial business combination, Maker shall repay the principal balance of this Note out of the proceeds released to Maker from the Trust Account.

**13. Amendment; Waiver** Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of Maker and Payee.

**14. Assignment**. No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void; *provided*, however, that the foregoing shall not apply to an affiliate of Payee who agrees to be bound to the terms of this Note.

[Signature Page Follows]

**IN WITNESS WHEREOF**, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written.

---

| | |
|:---|:---|
| **Newbury Street Acquisition Corporation** | **Newbury Street Acquisition Corporation** |
| By: | /s/ Thomas Bushey |
| Name: | Thomas Bushey |
| Title: | Chief Executive Officer |

---