# EDGAR Filing Document

**Accession Number:** 0001959224
**File Stem:** 0001213900-25-052195
**Filing Date:** 2025-6
**Character Count:** 147285
**Document Hash:** 25d8a2815e0870cac2843dc2f0b7a53b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-052195.hdr.sgml**: 20250606

**ACCESSION NUMBER**: 0001213900-25-052195

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 8

**CONFORMED PERIOD OF REPORT**: 20250606

**FILED AS OF DATE**: 20250606

**DATE AS OF CHANGE**: 20250606

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Solowin Holdings, Ltd.
- **CENTRAL INDEX KEY:** 0001959224
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41776
- **FILM NUMBER:** 251031906

**BUSINESS ADDRESS:**
- **STREET 1:** ROOM 1910-1912A TOWER 3 CHINA HONG KONG
- **STREET 2:** 33 CANTON RD TSIM SHA TSUI
- **CITY:** KOWLOON
- **STATE:** K3
- **ZIP:** 999077
- **BUSINESS PHONE:** 202-869-0888

**MAIL ADDRESS:**
- **STREET 1:** ROOM 1910-1912A TOWER 3 CHINA HONG KONG
- **STREET 2:** 33 CANTON RD TSIM SHA TSUI
- **CITY:** KOWLOON
- **STATE:** K3
- **ZIP:** 999077

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER** 

**PURSUANT TO RULE 13a-16 OR 15d-16 OF THE** 

**SECURITIES EXCHANGE ACT OF 1934**

For the month of **<u>June 2025</u>**

Commission File Number **<u>001-41776</u>**

**<u>SOLOWIN HOLDINGS</u>**

(Translation of registrant's name into English)

**Room 1910-1912A, Tower 3, China Hong Kong City**

**33 Canton Road, Tsim Sha Tsui, Kowloon**

**Hong Kong**

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

**Entry into a Material Definitive Agreement.**

On June 6, 2025, SOLOWIN HOLDINGS (the "Company") and certain individual investors (the "Purchasers") entered into that certain securities purchase agreement (the "Purchase Agreement"), pursuant to which the Company agreed to sell to such Purchasers an aggregate of 2,000,000 Class A Ordinary Shares, par value $0.0001 per share (the "Class A Ordinary Shares"), together with warrants to purchase up to 4,000,000 Class A Ordinary Shares, in a registered direct offering, for aggregate gross proceeds of $1,600,000, excluding the proceeds, if any, from the exercise of the warrants (the "Financing").

The warrants have a term of 3 years and will be exercisable for cash immediately following the date of issuance and have an exercise price of $1.00. The holders of the warrants also will have the right to exercise such warrants on a cashless basis starting one month after the issuance. Each warrant is subject to standard anti-dilution provisions to reflect share dividends, splits or other similar transactions.

The Company intends to use the net proceeds from the Financing for working capital and general corporate purposes. The Financing is expected to close on or about June 9, 2025, subject to the satisfaction of customary closing conditions.

Copies of the form of the Purchase Agreement and the form of the warrants, are attached hereto as Exhibit 10.1 and Exhibit 4.1, respectively, and are incorporated herein by reference. The foregoing summary of the terms of the Purchase Agreement and the warrants is not complete and is qualified in the entirety by reference to such documents.

The sale and offering of the Class A Ordinary Shares, the warrants and the Class A Ordinary Shares underlying the warrants pursuant to the Purchase Agreement and the warrants are effected as a takedown off the Company's shelf registration statement on [Form F-3](http://www.sec.gov/Archives/edgar/data/1959224/000121390024090558/ea0218561-f3a1_solowin.htm) (File No. 333-282552), as amended (the "Shelf Registration Statement"), which became effective on November 8, 2024, pursuant to a prospectus supplement to be filed with the Securities and Exchange Commission on or about the date hereof.

The information contained in this report on Form 6-K is hereby incorporated by reference into the Shelf Registration Statement and shall be a part thereof from the date on which this report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished. This report on Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit<br> Number** | **Description** |
| 4.1 | [Form of Warrants](ea024497301ex4-1_solowin.htm) |
| 5.1 | [Opinion of Conyers Dill & Pearman](ea024497301ex5-1_solowin.htm) |
| 5.2 | [Opinion of Bevilacqua PLLC](ea024497301ex5-2_solowin.htm) |
| 10.1 | [Form of Securities Purchase Agreement, dated June 6, 2025, between the Company and each Purchaser](ea024497301ex10-1_solowin.htm) |
| 23.1 | [Consent of Conyers Dill & Pearman (included as part of Exhibit 5.1)](ea024497301ex5-1_solowin.htm) |
| 23.2 | [Consent of Bevilacqua PLLC (included as part of Exhibit 5.2)](ea024497301ex5-2_solowin.htm) |

---

**SIGNATURES**

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, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: June 6, 2025 | **SOLOWIN HOLDINGS** | **SOLOWIN HOLDINGS** |
|  | By: | /s/ Ling Ngai Lok |
|  |  | Ling Ngai Lok |
|  |  | Chief Executive Officer |

---

## Exhibit 4.1

**Exhibit 4.1**

CLASS A ORDINARY SHARE PURCHASE WARRANT

SOLOWIN HOLDINGS

Initial Exercise Date: June 9, 2025

THIS CLASS A ORDINARY SHARE PURCHASE WARRANT (the "<u>Warrant</u>") certifies that, for value received, __________or its assigns (the "<u>Holder</u>") is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the "<u>Initial Exercise Date</u>") and on or prior to 5:00 p.m. (New York City time) on the 36-month anniversary of the Initial Exercise Date (the "<u>Termination Date</u>") but not thereafter, to subscribe for and purchase from SOLOWIN HOLDINGS, a Cayman Islands exempted company (the "<u>Company</u>"), up to ___________ Class A ordinary shares (as subject to adjustment hereunder, the "<u>Warrant Shares</u>"). The purchase price of one Class A ordinary share under this Warrant shall be equal to the Exercise Price, as defined in Section 2(c).

<u>Section 1</u>. <u>Definitions</u>. The capitalized terms used herein shall have the meanings ascribed to them in this Warrant, or, if not defined herein, shall have the meanings assigned to such terms in the applicable context throughout this Warrant.

"<u>Affiliate</u>" means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

"<u>Business Day</u>" means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to remain closed; <u>provided</u>, <u>however</u>, for clarification, commercial banks shall not be deemed to be authorized or required by law to remain closed due to "stay at home", "shelter-in-place", "non-essential employee" or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York generally are open for use by customers on such day.

"<u>Commission</u>" means the United States Securities and Exchange Commission.

"<u>Person</u>" means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

"<u>Securities Act</u>" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

"<u>Subsidiary</u>" means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired after the date hereof.

"<u>Trading Day</u>" means a day on which the Class A ordinary shares are traded on a Trading Market.

"Trading Market" means any of the following markets or exchanges on which the Class A ordinary shares are 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, OTCQB or OTCQX (or any successors to any of the foregoing).

<u>Section 2</u>. <u>Exercise</u>.

a) <u>Exercise of Warrant</u>. Exercise of the
 purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise
 Date and on or before the Termination Date by delivery to the Company of a duly executed PDF copy submitted by e-mail (or e-mail
 attachment) of the Notice of Exercise in the form annexed hereto (the " <u>Notice of Exercise</u> "). Within the earlier
 of (i) two (2) Business Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined in Section
 2(c)(i)) following the date of exercise as aforesaid, the Holder shall deliver to the Company the aggregate Exercise Price for the
 shares specified in the applicable Notice of Exercise by wire transfer or cashier's check drawn on a United States bank. No
 ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization)
 of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically
 surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant
 has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3)
 Business Days of the date on which 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 Holder
 and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company
 shall deliver any objection to any Notice of Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee,
 by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase
 of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may
 be less than the amount stated on the face hereof.

b) <u>Cashless Exercise.</u> This Warrant may also be exercised in whole or in part by means of a "cashless"
 or net exercise on or after the one-month anniversary of the date of this Warrant, in the following manner. Under a cashless exercise
 the Holder shall be entitled to receive the number of Warrant Shares which is equal to the quotient obtained by dividing [(A-B) X
 (C)] by (A) where:

A = The Market Price of the Warrant Shares defined as the average of the last reported sale prices on the principal Trading Market for the Class A ordinary shares during the five (5) trading days immediately preceding such exercise date.

B = The Exercise Price hereunder (as adjusted).

C = The number of Warrant Shares that the Holder wishes to exercise as set forth in the applicable Notice of Exercise.

c) <u>Exercise Price</u>. The exercise price per Class A ordinary share under this
 Warrant shall be equal to $1.0 (as subject to adjustment hereunder, the " <u>Exercise Price</u> ").

d) <u>Mechanics of Exercise</u>.

i. <u>Delivery of Warrant Shares Upon Exercise</u>. The Company shall cause the Warrant
 Shares purchased hereunder to be transmitted by its transfer agent to the Holder by crediting the account of the Holder or its designee's
 balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (" <u>DWAC</u> ")
 if, following the Initial Exercise Date, the Company is then a participant in such system and either (A) there is an effective registration
 statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B) the Warrant Shares
 are eligible for resale by the Holder without volume or manner-of-sale limitations pursuant to Rule 144, and otherwise by physical
 delivery of a certificate, registered in the Company's share register in the name of the Holder or its designee, for the number
 of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice
 of Exercise by the date that is the earliest of (i) two (2) Business Days after the delivery to the Company of the Notice of Exercise,
 (ii) one (1) Business Day after delivery of the aggregate Exercise Price to the Company and (iii) the number of Trading Days comprising
 the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the " <u>Warrant Share Delivery Date</u> "). Upon delivery of the Notice of Exercise, the Holder shall be deemed for all corporate (but not Rule 144)
 purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective
 of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise Price is received within the earlier
 of (i) two (2) Business Days and (ii) the number of Trading Days comprising the Standard Settlement Period following delivery of
 the Notice of Exercise. As used herein, " <u>Standard Settlement Period</u> " means the standard settlement period, expressed
 in a number of Trading Days, on the Company's primary Trading Market with respect to the Class A ordinary shares as in effect
 on the date of delivery of the Notice of Exercise.

ii. <u>Delivery of New Warrants Upon Exercise</u>. If this Warrants
shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the
time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased
Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

iii. <u>Rescission Rights</u>. If the Company fails to cause its
transfer agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i) by the Warrant Share Delivery Date, then the
Holder will have the right to rescind such exercise.

iv. <u>No Fractional Shares or Scrip</u>. No fractional shares or
scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share which the Holder
would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect
of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or roundup to the next whole share.

v. <u>Charges, Taxes and Expenses</u>. Issuance of Warrant Shares
shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such
Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares shall be issued in the name of
the Holder or in such name or names as may be directed by the Holder; <u>provided</u>, <u>however</u>, that in the event that Warrant
Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied
by the Assignment Form attached hereto duly executed by the Holder and the Company may require, as a condition thereto, the payment of
a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for
same-day processing of any Notice of Exercise and all fees to the Depository Trust Company (or another established clearing corporation
performing similar functions) required for same-day electronic delivery of the Warrant Shares. The Company shall pay all attorney fees
required for the issuance of attorney legal opinions for removal of restrictive legends on Warrant Shares.

vi. <u>Closing of Books</u>. The Company will not close its register
of members or shareholder records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

e) <u>Holder's Exercise Limitations</u>. The Company shall
not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section
2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise,
the Holder (together with the Holder's Affiliates, and any other Persons acting as a group together with the Holder or any of the
Holder's Affiliates (such Persons, " <u>Attribution Parties</u> ")), would beneficially own in excess of the Beneficial
Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Class A ordinary shares beneficially owned
by the Holder and its Affiliates and Attribution Parties shall include the number of Class A ordinary shares issuable upon exercise of
this Warrant with respect to which such determination is being made, but shall exclude the number of Class A ordinary shares which would
be issuable upon (i) exercise of the remaining, non-exercised portion of this Warrant beneficially owned by the Holder or any of its
Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of
the Company (including, without limitation, any other ordinary share equivalents subject to a limitation on conversion or exercise analogous
to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth
in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d)
of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not
representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible
for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies,
the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates
and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission
of a Notice of Exercise shall be deemed to be the Holder's determination of whether this Warrant is exercisable (in relation to
other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable,
in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy
of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with
Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining
the number of outstanding Class A ordinary shares, a Holder may rely on the number of outstanding shares of Class A ordinary shares as
reflected in (A) the Company's most recent periodic or annual report filed with the Commission, as the case may be, (B) a more
recent public announcement by the Company or (C) a more recent written notice by the Company or its transfer agent setting forth the
number of Class A ordinary shares outstanding. Upon the written or oral request of a Holder, the Company shall within one Trading Day
confirm orally and in writing to the Holder the number of Class A ordinary shares then outstanding. In any case, the number of outstanding
Class A ordinary shares shall be determined after giving effect to the conversion or exercise of securities of the Company, including
this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Class A ordinary
shares was reported. The " <u>Beneficial Ownership Limitation</u> " shall be 4.99% of the number of Class A ordinary shares
outstanding immediately after giving effect to the issuance of Class A ordinary shares issuable upon exercise of this Warrant. The Holder,
upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that
the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Class A ordinary shares outstanding immediately after
giving effect to the issuance of Class A ordinary shares upon exercise of this Warrant held by the Holder and the provisions of this
Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61 <sup>st</sup> day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise
than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective
or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable
to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

<u>Section 3</u>. <u>Certain Adjustments</u>.

a) <u>Share Dividends and Splits</u>. If the Company, at any time
while this Warrant is outstanding: (i) pays a share dividend or otherwise makes a distribution or distributions on Class A ordinary shares
or any other equity or equity equivalent securities payable in Class A ordinary shares (which, for avoidance of doubt, shall not include
any Class A ordinary shares issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding Class A ordinary shares
into a larger number of shares, (iii) consolidates of combines (including by way of reverse stock split) outstanding Class A ordinary
shares into a smaller number of shares or (iv) issues by reclassification of Class A ordinary shares any shares of the Company, then
in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of Class A ordinary shares
(excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares
of Class A ordinary shares outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant
shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made
pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of shareholders entitled
to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision,
combination or re-classification.

b) <u>Pro Rata Distributions</u>. During such time as this Warrant is outstanding,
 if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders
 of Class A ordinary shares, by way of return of capital or otherwise (including, without limitation, any distribution of cash, shares
 or other securities, property or options by way of a dividend, reclassification, corporate rearrangement, scheme of arrangement or
 other similar transaction) (a " <u>Distribution</u> "), at any time after the issuance of this Warrant, then, in each such
 case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated
 therein if the Holder had held the number of Class A ordinary shares acquirable upon complete exercise of this Warrant (without regard
 to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the
 date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of
 Class A ordinary shares are to be determined for the participation in such Distribution (<u>provided</u>, <u>however</u>, that, to
 the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial
 Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial
 ownership of any Class A ordinary shares as a result of such Distribution to such extent) and the portion of such Distribution shall
 be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding
 the Beneficial Ownership Limitation).

c) <u>Fundamental Transaction</u>. 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 (including any asset or <u>group</u> of assets, regardless whether then so classified by the Company, which would constitute a Significant Subsidiary, as
 such term is defined in Rule 1-02(w) of Regulation S-X), (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 Class A ordinary shares 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 Class A ordinary shares, (iv) the Company, directly or indirectly, in one or more related transactions effects
 any reclassification, reorganization or recapitalization of the Class A ordinary shares or any compulsory share exchange pursuant
 to which the Class A ordinary shares are effectively converted into or exchanged for other securities, cash or property, or (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, merger or scheme of arrangement) with another
 Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding Class A ordinary shares (not
 including any Class A ordinary shares 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 " <u>Fundamental Transaction</u> "), then, upon any subsequent exercise of this Warrant, the Holder 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 Holder (without regard to any limitations in Section 2(e) on the exercise of this Warrant), the number of Class
 A ordinary shares of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional
 consideration (the " <u>Alternate Consideration</u> ") receivable as a result of such Fundamental Transaction by a holder
 of the number of Class A ordinary shares for which this Warrant is exercisable immediately prior to such Fundamental Transaction
 (without regard to any limitation in Section 2(e) on the exercise of this Warrant). 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 Class A ordinary share 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 Class A ordinary shares are given any choice as to the securities, cash or property to be received in
 a Fundamental Transaction, then the Holder 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 " <u>Successor Entity</u> ") 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 3(d) pursuant
 to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable
 delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder 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 such Successor Entity (or its parent entity) equivalent to the Class
 A ordinary shares 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
 (but taking into account the relative value of the Class A ordinary shares pursuant to such Fundamental Transaction and the value
 of such shares, such number of shares 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 inform and substance
 to the Holder. 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.

d) <u>Calculations</u>. All calculations under this Section 3 shall be made to the
 nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 3, the number of Class A ordinary
 shares deemed to be issued and outstanding as of a given date shall be the sum of the number of Class A ordinary shares (excluding
 treasury shares, if any) issued and outstanding.

e) <u>Adjustment to Exercise Price</u>. Whenever the Exercise Price is adjusted pursuant
 to any provision of this Section 3, the Company shall promptly deliver to the Holder by email a notice setting forth the Exercise
 Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the
 facts requiring such adjustment.

f) <u>Notice to Allow Exercise by Holder</u>. If (A) the Company shall declare a dividend
 (or any other distribution in whatever form) on the Class A ordinary shares, (B) the Company shall declare a special nonrecurring
 cash dividend on or a redemption of the Class A ordinary shares, (C) the Company shall authorize the granting to all holders of the
 Class A ordinary shares rights or warrants to subscribe for or purchase any shares of any class or of any rights, (D) the approval
 of any shareholders of the Company shall be required in connection with any reclassification of the Class A ordinary shares, any
 consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company,
 or any compulsory share exchange whereby the Class A ordinary shares are converted into other securities, cash or property, or (E)
 the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then,
 in each case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email address
 as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective
 date herein after specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution,
 redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Class A ordinary shares
 of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on
 which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and
 the date as of which it is expected that holders of the Class A ordinary shares of record shall be entitled to exchange their shares
 of the Class A ordinary shares for securities, cash or other property deliverable upon such reclassification, consolidation, merger,
 sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof
 shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided
 in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the
 Company shall simultaneously file such notice with the Commission pursuant to a Form 6-K. The Holder shall remain entitled to exercise
 this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except
 as may otherwise be expressly set forth herein.

<u>Section 4</u>. <u>Transfer of Warrant</u>.

a) <u>Transferability</u>. Subject to compliance with any applicable securities laws
 and the conditions set forth in Section 4(d) hereof, this Warrant and all rights hereunder (including, without limitation, any registration
 rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated
 agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or
 its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender
 and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees,
 as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor
 a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding
 anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the
 Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three (3)
 Business Days of the date on which the Holder delivers an assignment form to the Company assigning this Warrant in full. The Warrant,
 if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a
 new Warrant issued.

b) <u>New Warrants</u>. This Warrant may be divided or combined with other Warrants
 upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations
 in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as
 to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants
 in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers
 or exchanges shall be dated the Initial Exercise Date and shall be identical with this Warrant except as to the number of Warrant
 Shares issuable pursuant thereto.

c) <u>Warrant Register</u>. The Company shall register this Warrant, upon records to
 be maintained by the Company for that purpose (the " <u>Warrant Register</u> "), in the name of the record Holder hereof
 from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose
 of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

d) <u>Transfer Restrictions</u>. The Holder acknowledges that the Warrant Shares acquired
 upon the exercise of this Warrant, if not registered, will have restrictions upon resale imposed by state and federal securities
 laws.

e) <u>Representation by the Holder</u>. The Holder, by the acceptance hereof, represents
 and warrants that it is acquiring this Warrant and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such
 exercise, for its own account and not with a view to or for distributing or reselling such Warrant Shares or any part thereof in
 violation of the Securities Act or any applicable state securities law, except pursuant to sales registered or exempted under the
 Securities Act.

<u>Section 5</u>. <u>Miscellaneous</u>.

a) <u>No Rights as Shareholder Until Exercise</u>. This Warrant does not entitle the
 Holder to any voting rights, dividends or other rights as a shareholder of the Company prior to the exercise hereof as set forth
 in Section 2(d)(i), except as expressly set forth in Section 3. In no event shall the Company be required to net cash settle an exercise
 of this Warrant.

b) <u>Loss, Theft, Destruction or Mutilation of Warrant</u>. The Company covenants
 that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this
 Warrant or any share certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security
 reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender
 and cancellation of such Warrant or share certificate, if mutilated, the Company will make and deliver a new Warrant or share certificate
 of like tenor and dated as of such cancellation, in lieu of such Warrant or share certificate.

c) <u>Saturdays, Sundays, Holidays, etc</u>. If the last or appointed day for the taking
 of any action or the expiration of any right required or granted herein shall not be a Business Day, then, such action may be taken
 or such right may be exercised on the next succeeding Business Day.

d) <u>Authorized Shares</u>.

Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its memorandum and articles of association, as amended, or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities 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 actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents hereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

e) <u>Jurisdiction and Governing Law</u>. All questions concerning the construction,
 validity, enforcement and interpretation of this Warrant shall be governed by and construed and enforced in accordance with the internal
 laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings
 concerning the interpretations, enforcement and defense of the transactions contemplated by this Warrant (whether brought against
 a party hereto or their respective Affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be
 commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the
 exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication
 of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably
 waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
 of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby
 irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing
 a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in
 effect for notices to it under this Warrant and agrees that such service shall constitute good and sufficient service of process
 and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted
 by law.

f) <u>Restrictions</u>. The Holder acknowledges that the Warrant Shares acquired upon
 the exercise of this Warrant, if not registered, will have restrictions upon resale imposed by state and federal securities laws.

g) <u>Nonwaiver and Expenses</u>. No course of dealing or any delay or failure to exercise
 any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder's rights,
 powers or remedies. Without limiting any other provision of this Warrant, if the Company willfully and knowingly fails to comply
 with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such
 amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys' fees, including
 those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any
 of its rights, powers or remedies hereunder.

h) <u>Notices</u>. Any and all notices or other communications or deliveries to be
 provided by the Holder hereunder including, without limitation, any Notice of Exercise, shall be in writing and delivered personally,
 by e-mail, or sent by a nationally recognized overnight courier service, addressed to the Company, at Room 1910-1912A, Tower 3, China
 Hong Kong City, 33 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong, Attention: CEO, email address: [ ],
 or such other email address or address as the Company may specify for such purposes by notice to the Holder. Any and all notices
 or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by e-mail,
 or sent by a nationally recognized overnight courier service addressed to each Holder at the e-mail address or address of such Holder
 appearing on the books of the Company. Any notice or other communication or deliveries hereunder shall be deemed given and effective
 on the earlier of (i) the time of transmission, if such notice or communication is delivered via e-mail at the e-mail address set
 forth in this section prior to 5:30 p.m. (New York City time) on any date, or (ii) the next Trading Day after the time of transmission,
 if such notice or communication is delivered via e-mail at the e-mail address set forth in this section on a day that is not a Trading
 Day or later than 5:30 p.m. (New York City time) on any Trading Day. To the extent that any notice provided hereunder constitutes,
 or contains, material, non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously file such
 notice with the Commission pursuant to a Form 6-K.

i) <u>Limitation of Liability</u>. No provision hereof, in the absence of any affirmative
 action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of
 the Holder, shall give rise to any liability of the Holder for the purchase price of any Class A ordinary shares or as a shareholder
 of the Company, whether such liability is asserted by the Company or by creditors of the Company.

j) <u>Remedies</u>. The Holder, in addition to being entitled to exercise all rights
 granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company
 agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions
 of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at
 law would be adequate.

k) <u>Successors and Assigns</u>. Subject to applicable securities laws, this Warrant
 and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns
 of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit
 of any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

l) <u>Amendment; Waivers</u>. This Warrant may be modified or amended or the provisions
 hereof waived with the written consent of the Company and the Holder.

m) <u>Severability</u>. Wherever possible, each provision of this Warrant shall be
 interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited
 by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without
 invalidating the remainder of such provisions or the remaining provisions of this Warrant.

n) <u>Headings</u>. The headings used in this Warrant are for the convenience of reference
 only and shall not, for any purpose, be deemed a part of this Warrant.

o) <u>Equal Treatment of Holders</u>. No consideration (including any modification
 of this Warrant) shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision hereof unless
 the same consideration is also offered to all of the Holders. For clarification purposes, this provision constitutes a separate right
 granted to each Holder by the Company and negotiated separately by each Holder, and is intended for the Company to treat the Holders
 as a class and shall not in any way be construed as the Holders acting in concert or as a group with respect to the Warrants or the
 Class A ordinary shares issuable upon exercise of the Warrants.

\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*

(Signature Page Follows)

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

---

| | | |
|:---|:---|:---|
| SOLOWIN HOLDINGS | SOLOWIN HOLDINGS | SOLOWIN HOLDINGS |
| By: |  |  |
|  | Name: | Ling Ngai Lok |
|  | Title: | Chief Executive Officer |

---

NOTICE OF EXERCISE

TO: SOLOWIN HOLDINGS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The undersigned intends that payment of the Exercise Price shall be made as:

☐ a "<u>Cash Exercise</u>" with respect to _________________ Warrant Shares; and/or

☐ a "<u>Cashless Exercise</u>" with respect to _______________ Warrant Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) In the event that the undersigned has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the undersigned shall pay the Exercise Price in the sum of $___________________ to the Company in accordance with the terms of the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) In the event that the undersigned has elected a Cashless Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the undersigned hereby elects to convert its right to purchase _______ Class A ordinary shares under the Warrant for __________ Class A ordinary shares, as determined in accordance with Section 2(b) of the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

_______________________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The Warrant Shares shall be delivered to the following DWAC Account Number:

_______________________________

_______________________________

_______________________________

---

| |
|:---|
| [SIGNATURE OF HOLDER] |
| Name of Investing Entity: ___________________________________________________________________________ |
| Signature of Authorized Signatory of Investing Entity: ______________________________________________________ |
| Name of Authorized Signatory: _______________________________________________________________________ |
| Title of Authorized Signatory: ________________________________________________________________________ |
| Date: ___________________________________________________________________________________________ |

---

ASSIGNMENT FORM

(To assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

---

| | |
|:---|:---|
| Name: | |
|  | (Please Print) |
| Address: | |
|  | (Please Print) |
| Phone Number: | |
| Email Address: | |
| Dated: __________________, __________ |  |
| Holder's Signature: _______________________ |  |
| Holder's Address: _______________________ |  |

---

## Exhibit 5.1

**Exhibit 5.**1

---

| |
|:---|
| **CONYERS DILL & PEARMAN** |
| 29<sup>th</sup> Floor |
| One Exchange Square |
| 8 Connaught Place |
| Central |
| Hong Kong |
| T +852 2524 7106 \| F +852 2845 9268 |
| **conyers.com** |

---

6 June 2025

Matter No. 1008341/110955922

852 2842 9530

Richard.Hall@conyers.com

**SOLOWIN HOLDINGS**

Room 1910-12A, Tower 3

China Hong Kong City

33 Canton Road, Tsimshatsui

Hong Kong

**Re: SOLOWIN HOLDINGS (the "Company")**

We have acted as special Cayman Islands legal counsel to the Company in connection with the Company's shelf registration statement on Form F-3 (File No. 333-282552) (the "**Registration Statement**") filed by the Company with the U.S. Securities and Exchange Commission (the "**Commission**") and declared effective by the Commission on 8 November 2024 under the U.S. Securities Act of 1933, as amended (the "**Securities Act**"), and the base prospectus contained in the Registration Statement (the "**Base Prospectus**") and the prospectus supplement to be filed with the Commission on or about the date hereof (the "**Prospectus Supplement**" and collectively with the Base Prospectus, the "**Prospectus**") in connection with an offering (the "**Offering**") by the Company of up to 2,000,000 Class A ordinary shares of par value US$0.0001 per share of the Company (the "**Class A Ordinary Shares**") and warrants to purchase up to 4,000,000 Class A Ordinary Shares (each such Class A Ordinary Share underlying each warrant being a "**Warrant Share**") pursuant to the Securities Purchase Agreement (as defined below).

**1.** **DOCUMENTS REVIEWED** 

For the purposes of giving this opinion, we have examined copies of the following documents:

1.1 the Registration Statement;

1.2 the Prospectus;

1.3 the securities purchase agreement between the Company and each of the investor(s) identified on the signature
pages thereto dated 6 June 2025 (the "**Securities Purchase Agreement** ");

1.4 the form of the class A ordinary share purchase warrant to be issued by the Company in favour of each
investor(s) (the "**Warrants** ");

1.5 the second amended and restated memorandum and articles of association of the Company;

1.6 the resolutions in writing of all the directors of the Company dated 7 October 2024 and 6 June 2025(collectively,
the "**Resolutions** ");

1.7 a Certificate of Good Standing issued by the Registrar of Companies in relation to the Company on 22 May
2025 (the "**Certificate Date** "); and

1.8 such other documents and made such enquiries as to questions of law as we have deemed necessary in order
to render the opinion set forth below.

**2.** **ASSUMPTIONS** 

We have assumed:

2.1 the genuineness and authenticity of all signatures and the conformity to the originals of all copies (whether
or not certified) examined by us and the authenticity and completeness of the originals from which such copies were taken;

2.2 that where a document has been examined by us in draft form, it will be or has been executed and/or filed
in the form of that draft, and where a number of drafts of a document have been examined by us all changes thereto have been marked or
otherwise drawn to our attention;

2.3 the capacity, power and authority of each of the parties to the Securities Purchase Agreement other than
the Company, to enter into and perform its respective obligations under the Securities Purchase Agreement;

2.4 the accuracy and completeness of all factual representations made in the Securities Purchase Agreement,
the Warrants, the Registration Statement, the Prospectus and other documents reviewed by us;

2.5 that the Resolutions were passed at one or more duly convened, constituted and quorate meetings or by
unanimous written resolutions, remain in full force and effect and have not been rescinded or amended;

2.6 the validity and binding effect under the laws of the State of New York, United States of America (the
" **Foreign Laws**") of the Securities Purchase Agreement and the Warrants which are expressed to be governed by such Foreign
Laws in accordance with their respective terms;

**conyers.com \| 2**

2.7 that there is no provision of the law of any jurisdiction, other than the Cayman Islands, which would
have any implication in relation to the opinions expressed herein;

2.8 that upon the issue of the Class A Ordinary Shares or Warrant Shares, the Company will receive consideration
for the full issue price thereof which shall be equal to at least the par value of the Class A Ordinary Shares or Warrant Shares;

2.9 the Company has not taken any action to appoint a restructuring officer;

2.10 no invitation has been or will be made by or on behalf of the Company to the public in the Cayman Islands
to subscribe for any shares of the Company;

2.11 that on the date of issuance of any of the Class A Ordinary Shares or Warrant Shares, (i) the Company
will have sufficient authorised but unissued Class A ordinary shares, and (ii) the Company is and after issuing such Class A Ordinary
Shares or Warrant Shares will be able to pay its debts;

2.12 that the Company will issue the Class A Ordinary Shares, Warrant Shares and Warrants in furtherance of
its objects as set out in its memorandum of association;

2.13 the validity and binding effect under the laws of the United States of America of the Registration Statement
and that the Registration Statement will be duly filed with the Commission; and

2.14 there is no contractual or other prohibition or restriction (other than as arising under Cayman Islands
law) binding on the Company prohibiting or restricting it from entering into and performing its obligations under the Registration Statement
and the Securities Purchase Agreement.

**3.** **QUALIFICATIONS** 

3.1 We have made no investigation of and express no opinion in relation to the laws of any jurisdiction other
than the Cayman Islands. This opinion is to be governed by and construed in accordance with the laws of the Cayman Islands and is limited
to and is given on the basis of the current law and practice in the Cayman Islands. This opinion is issued solely for the purposes of
the filing of the Registration Statement and is not to be relied upon in respect of any other matter.

**conyers.com \| 3**

**4.** **OPINIONS** 

On the basis of and subject to the foregoing, we are of the opinion that:

4.1 The Company is duly incorporated and existing under the law of the Cayman Islands and, based on the Certificate
of Good Standing, is in good standing as at the Certificate Date. Pursuant to the Act, a company is deemed to be in good standing if all
fees and penalties under the Act have been paid and the Registrar of Companies has no knowledge that the Company is in default under the
Act.

4.2 When issued and paid for as contemplated in the Securities Purchase Agreement, the Registration Statement
and the Prospectus, the Class A Ordinary Shares will be validly issued, fully paid and non-assessable (which term when used herein means
that no further sums are required to be paid by the holders thereof in connection with the issue thereof).

4.3 The Company has taken all corporate action required to authorise its execution, delivery and performance
of the Warrants and the allotment and issue of the Warrant Shares.

4.4 When duly executed and delivered by the Company, the Warrants will constitute legal, valid and binding
obligations of the Company enforceable in accordance with the terms thereof.

4.5 When issued and paid for as contemplated in the Warrants, the Registration Statement and the Prospectus,
the Warrant Shares will be validly issued, fully paid and non-assessable (which term when used herein means that no further sums are required
to be paid by the holders thereof in connection with the issue of such Warrant Shares).

We hereby consent to the filing of this opinion as an exhibit to the Company's report filing on Form 6-K with the Commission, which will be incorporated by reference into and deemed part of the Registration Statement and to the references to our firm under the caption "Legal Matters" in the Prospectus forming a part of the Registration Statement. In giving such consent, we do not hereby admit that we are experts within the meaning of Section 11 of the Securities Act or that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the Rules and Regulations of the Commission promulgated thereunder.

Yours faithfully,

/s/ Conyers Dill & Pearman

**Conyers Dill & Pearman**

**conyers.com \| 4**

## Exhibit 5.2

**Exhibit 5.2**

![](ex5-2_001.jpg)

June 6, 2025

SOLOWIN HOLDINGS

Room 1910-1912A, Tower 3, China Hong Kong City

33 Canton Road, Tsim Sha Tsui, Kowloon

Hong Kong

Re: SOLOWIN HOLDINGS

Ladies and Gentlemen:

We have acted as United States counsel to SOLOWIN HOLDINGS, a Cayman Islands company (the "Company"), in connection with the Company's registration and offering of 2,000,000 Class A ordinary shares, par value $0.0001 per share (the "Class A Ordinary Shares") and warrants to purchase 4,000,000 Class A Ordinary Shares pursuant to a registration statement on Form F-3 (File No. 333-282552) (the "Registration Statement") that was declared effective by the Securities and Exchange Commission (the "Commission") on November 8, 2024 and the prospectus supplement (the "Prospectus Supplement") to be filed with the Commission pursuant to Rule 424(b) promulgated under the Securities Act of 1933, as amended (the "Securities Act") on or about the date hereof.

We have examined such documents and considered such legal matters as we have deemed necessary and relevant as the basis for the opinion set forth below. In rendering the opinion expressed herein, we have, without independent inquiry or investigation, assumed (i) the legal capacity of all natural persons executing documents, (ii) the genuineness of all signatures, (iii) the authenticity, accuracy and completeness of all documents submitted to us as originals and the conformity to authentic original documents submitted to us as certified, conformed or reproduced copies. We have relied upon the accuracy and completeness of the information, factual matters, representations, and warranties contained in such documents. We have also assumed that the persons identified as officers of the Company are actually serving in such capacity and that the Prospectus Supplement will be duly filed with the Commission in compliance with the Securities Act. In our examination of documents, we have assumed that the parties thereto had the power, corporate or other, to enter into and perform all obligations thereunder and the due authorization by all requisite action, corporate or other, the execution and delivery by all parties of the documents, and the validity and binding effect thereof on such parties. As to questions of fact material to this opinion, we have, to the extent deemed appropriate, relied upon certain representations of certain officers and employees of the Company.

Based upon and subject to the foregoing, we are of the opinion that, assuming the Warrants have been duly authorized, executed and delivered by the Company in accordance with the laws of the Cayman Islands, and when such Warrants are duly executed and authenticated in accordance with their terms and issued and delivered, such Warrants will constitute the valid and legally binding obligations of the Company, enforceable in accordance with their terms, except: (a) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally and by general equitable principles (regardless of whether enforceability is considered in a proceeding in equity or at law); (b) as enforceability of any indemnification or contribution provision may be limited under the Federal and state securities laws, and (c) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefor may be brought, and provided that we express no opinion as to the validity, legally binding effect or enforceability of any provision in the Warrants that requires or relates to adjustments to the exercise price at a price or in an amount that a court would determine in the circumstances under applicable law to be commercially unreasonable or a penalty or forfeiture.

1050 Connecticut Ave., NW, Suite 500

Washington, DC 20036

---

| | |
|:---|:---|
| **PG. 2** | ![](ex5-2_002.jpg) |

---

Notwithstanding anything in this letter which might be construed to the contrary, our opinion expressed herein is limited to the laws of the State of New York. We express no opinion with respect to the applicability to, or the effect on, the subject transaction of the laws of any other jurisdiction or as to any matters of municipal law or the laws of any local agencies within any state other than the State of New York. The opinion expressed herein is based upon the law of the State of New York in effect on the date hereof, and we assume no obligation to revise or supplement this opinion should such law be changed in the future by legislative action, judicial decision, or otherwise. Except as expressly set forth in our opinion above: (i) we express no opinion as to whether the laws of any other jurisdiction are applicable to the subject matter hereof, and (ii) we express no opinion as to compliance with any other federal or state law, rule or regulation relating to securities, or to the sale or issuance thereof.

We hereby consent to the use of this opinion as an exhibit to the Company's report on Form 6-K filed with the Commission on the date hereof, which will be incorporated by reference into and deemed part of the Registration Statement and to the references to our firm under the caption "Legal Matters" in the Prospectus Supplement forming a part of the Registration Statement. In giving this consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act, or the rules and regulations promulgated thereunder.

---

| |
|:---|
| /s/ Bevilacqua PLLC |
| **Bevilacqua PLLC** |

---

## Exhibit 10.1

**Exhibit 10.1**

**SECURITIES PURCHASE AGREEMENT**

This Securities Purchase Agreement (this **"Agreement"**) is made as of June 6, 2025, by and among SOLOWIN HOLDINGS, a Cayman Islands exempted holding company, (the **"Company"**) and each of the investors identified on the signature pages hereto (individually, an "**Investor**" and collectively, the **"Investors"**).

WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to an effective Registration Statement (as defined below) under the Securities Act of 1933, as amended (the "**Securities Act**"), the Company desires to issue and sell to the Investors, and the Investors desire to purchase from the Company certain securities of the Company for an aggregate price of $1,600,000, as more fully described in this Agreement.

NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and each Investor agree as follows:

**ARTICLE 1.**<br> **DEFINITIONS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. <u>Definitions</u>. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms shall have the meanings indicated in this Section 1.1:

**"Action"** means any action, suit, inquiry, notice of violation, proceeding (including any partial proceeding such as a deposition) or investigation pending or threatened in writing against or affecting the Company, or any of its properties before or by any court, arbitrator, governmental or administrative agency, regulatory authority (federal, state, county, local or foreign), stock market, stock exchange or trading facility.

**"Affiliate"** means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 144.

**"Business Day"** means any day except Saturday, Sunday or other day on which commercial banks in The City of New York or Hong Kong, Special Administrative Region of the People's Republic of China ("**PRC**") are authorized or required by law to remain closed; *provided*, *however*, for clarification, commercial banks shall not be deemed to be authorized or required by law to remain closed due to "stay at home", "shelter-in-place", "non-essential employee" or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York or Hong Kong, Special Administrative Region of the PRC generally are open for use by customers on such day.

**"Class A Ordinary Shares"** means Class A ordinary shares of the Company, par value $0.0001 per share, and any securities into which such ordinary shares may hereafter be reclassified or for which it may be exchanged as a class.

"**Closing Date**" means the date on which the Shares and Warrants were issued and delivered to the Investors after all of the closing conditions set forth in this Agreement have been either satisfied or waived.

**"Commission"** means the United States Securities and Exchange Commission.

**"Exchange Act"** means the Securities Exchange Act of 1934, as amended.

**"GAAP"** means U.S. generally accepted accounting principles.

"**Governmental Body**" shall mean any: (a) nation, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature; (b) federal, state, local, municipal, foreign or other government; or (c) governmental or quasi-governmental authority of any nature (including any governmental or administrative division, department, agency, commission, instrumentality, official, organization, unit, body or entity) and any court or other tribunal.

**"Lien"** means any lien, charge, encumbrance, security interest, right of first refusal, right of participation or other restrictions of any kind.

**"Material Adverse Effect"** means any of (i) a material and adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material and adverse effect on the results of operations, assets, prospects, business or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole, or (iii) an adverse impairment to the Company's ability to perform on a timely basis its obligations under any Transaction Document.

**"New York Courts"** means the state and federal courts sitting in the City of New York, Borough of Manhattan.

**"Person"** means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

**"Proceeding"** means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened.

"**Prospectus**" means the final prospectus filed for the Registration Statement.

"**Prospectus Supplement**" means the supplement to the Prospectus complying with Rule 424(b) of the Securities Act that is filed with the Commission and delivered by the Company to the Investor at the Closing.

"**Registration Statement**" means the effective registration statement with Commission file No. 333-282552 which registers the sale of the Shares and Warrants to the Investors.

**"Rule 144"** means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

"**Securities**" means, collectively, the Shares, the Warrants and the Warrant Shares.

**"Shares"** means 2,000,000 Class A Ordinary Shares being offered and sold to the Investors by the Company hereunder.

**"Short Sales"** include, without limitation, all "short sales" as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, swaps and similar arrangements (including on a total return basis), and sales and other transactions through non-US broker dealers or foreign regulated brokers.

**"Subsidiary"** means any "significant subsidiary" as defined in Rule 1-02(w) of the Regulation S-X promulgated by the Commission under the Exchange Act.

**"Trading Day"** means (i) a day on which Class A Ordinary Shares are traded on a Trading Market (other than the OTC Bulletin Board), or (ii) if Class A Ordinary Shares are not listed on a Trading Market (other than the OTC Bulletin Board), a day on which Class A Ordinary Shares are traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if Class A Ordinary Shares are not quoted on any Trading Market, a day on which Class A Ordinary Shares are quoted in the over-the-counter market as reported by the Pink Sheets LLC (or any similar organization or agency succeeding to its functions of reporting prices); provided, that in the event that Class A Ordinary Shares are not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a Business Day.

**"Trading Market"** means whichever of the New York Stock Exchange, the NYSE American, the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market or OTC Bulletin Board (or any successors to any of the foregoing) on which Class A Ordinary Shares are listed or quoted for trading on the date in question.

**"Transaction Documents"** means this Agreement and any other documents or agreements executed in connection with the transactions contemplated hereunder.

"**Warrants**" means the warrants, being offered and sold to the Investors by the Company in the form of <u>Exhibit A</u> attached hereto, which Warrants shall be exercisable immediately and have a term of exercise equal to 36 months from the issuance date.

"**Warrant Shares**" means the Class A Ordinary Shares issuable upon exercise of the Warrants.

**ARTICLE 2.**<br> **PURCHASE AND SALE**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. <u>Subscription for Shares by the Investor</u>. Subject to the terms and conditions set forth in this Agreement, including all of the conditions set forth in Sections 5.1 and 5.2 hereof, on the Closing Date, the Company shall issue and sell to each Investor, and each Investor shall purchase from the Company, the Shares and the Warrants at an aggregate purchase price set forth on such Investor's signature page hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. <u>Closing</u>. The sale of the Shares and Warrants will take place in a closing (the "**Closing**"), subject to the satisfaction of the parties hereto of their obligations herein. The Closing shall be conducted by exchange of original documents or electronic documents following the fulfillment or waiver of the conditions to closing as set forth in Article 5 on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3. <u>Closing Deliveries</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At the Closing, the Company shall deliver or cause to be delivered to each Investor the following (the "**Company Deliverables**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a copy of the irrevocable instructions to the Company's transfer agent instructing the transfer agent to deliver a certificate or book entry or DWAC/DRS statement evidencing the Shares issued upon such Closing to such Investor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) this Agreement duly signed by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Warrants registered in the name of each Investor to purchase such aggregate number of Class A Ordinary Shares set forth on such Investor's signature page hereto; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Prospectus and Prospectus Supplement (which may be delivered in accordance with Rule 172 under the Securities Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At the Closing, each Investor shall deliver or cause to be delivered the following (collectively, the "**Investor Deliverables**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the aggregate purchase price in an amount set forth on such Investor's signature page hereto, in immediately available funds, by wire transfer to an account designated in writing by the Company for such purpose; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) this Agreement duly signed by such Investor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Within five (5) Business Days following the Closing Date, the Company shall deliver or cause to be delivered to each Investor a certificate or a book entry or DWAC/DRS statement representing the amount of Shares purchased in the Closing, registered in the name of such Investor.

**ARTICLE 3.** **<br> REPRESENTATIONS AND WARRANTIES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. <u>Representations and Warranties of the Company</u>. The Company hereby makes the following representations and warranties to each Investor as of the date hereof and the Closing Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Subsidiaries</u>. The Company has no direct or indirect Subsidiaries other than as specified in the SEC Reports (as defined below). The Company owns, directly or indirectly, such share capital of each Subsidiary as described in the SEC Reports free and clear of any and all Liens, and all the issued and outstanding shares of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Organization and Qualification</u>. Each of the Company and Subsidiaries is duly incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization (as applicable), with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any Subsidiary is in violation of any of the provisions of its respective memorandum or articles of association, bylaws or other organizational or charter documents as in effect on the date hereof (collectively, the "**Organizational Documents**"). Each of the Company and Subsidiaries is duly qualified to conduct its respective businesses and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Authorization; Enforcement</u>. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations thereunder. The execution and delivery of each of the Transaction Documents by the Company and the consummation by it of the transactions contemplated thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company in connection therewith. Each Transaction Document has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors' rights and remedies or by other equitable principles of general application.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>No Conflicts</u>. The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the Company of the transactions contemplated thereby do not and will not (i) conflict with or violate any provision of the Company's or any Subsidiary's Organizational Documents, (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any material agreement, credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any property or asset of the Company or any Subsidiary is bound or affected, or (iii) result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company or any Subsidiary is subject (including federal and state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected; except in the case of clause (ii) or (iii) above, to the extent such violations that could not have or reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Filings, Consents and Approvals</u>. Except as set forth in the SEC Reports (as defined below), the Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any United States, Cayman Islands or Hong Kong, PRC court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than (i) filings with or giving notice to any applicable Trading Market for the issuance and sale of the Shares and Warrant Shares in the time and manner required thereby, (ii) the filings required in accordance with Section 4.2, (iii) the filing with the Commission of the Prospectus Supplement and (iv) those that have been made or obtained prior to the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Issuance of the Securities</u>. The Shares and Warrant Shares have been duly authorized and, when issued and paid for in accordance with the Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens other than restrictions on transfer provided for in the Transaction Documents. The Registration Statement is effective under the Securities Act and no stop order preventing or suspending the effectiveness of the Registration Statement or suspending or preventing the use of the Prospectus has been issued by the Commission and no proceedings for that purpose have been instituted or, to the knowledge of the Company, are threatened by the Commission. The Company, if required by the rules and regulations of the Commission, shall file the Prospectus with the Commission pursuant to Rule 424(b). At the time the Registration Statement and any amendments thereto became effective, at the date of this Agreement and at the Closing Date, the Registration Statement and any amendments thereto conformed and will conform in all material respects to the requirements of the Securities Act and did not and will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading; and the Prospectus and any amendments or supplements thereto, at the time the Prospectus or any amendment or supplement thereto was issued and at the Closing Date, conformed and will conform in all material respects to the requirements of the Securities Act and did not and will not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The Company was at the time of the filing of the Registration Statement eligible to use Form F-3. The Company is eligible to use Form F-3 under the Securities Act and it meets the transaction requirements with respect to the aggregate market value of securities being sold pursuant to this offering and during the twelve (12) months prior to this offering, as set forth in General Instruction I.B.5 of Form F-3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Capitalization</u>. The number of shares and type of all authorized, issued and outstanding shares of the Company, and all Class A Ordinary Shares reserved for issuance under the Company's various option and incentive plans, all shares of the Company issuable and reserved for issuance pursuant to securities exercisable for, or convertible into or exchangeable for any shares of the Company, is specified in the SEC Reports. Except as specified in the SEC Reports, no securities of the Company are entitled to preemptive or similar rights, and no Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the Transaction Documents. Except as specified in the SEC Reports, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exchangeable for, or giving any Person any right to subscribe for or acquire, any Class A Ordinary Shares, or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional Class A Ordinary Shares, or securities or rights convertible or exchangeable into Class A Ordinary Shares. The issue and sale of the Securities hereunder will not, immediately or with the passage of time, obligate the Company to issue Class A Ordinary Shares or other securities to any Person (other than such Investor) and will not result in a right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under such securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>SEC Reports; Financial Statements</u>. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein being collectively referred to herein as the "**SEC Reports**") on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. Additionally, any further documents so filed and incorporated by reference in the Prospectus and Prospectus Supplement, when such documents are filed with the Commission, will conform in all material respects to the requirements of the Exchange Act and the applicable rules and regulations, as applicable, and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made not misleading. No post-effective amendment to the Registration Statement reflecting any facts or events arising after the date thereof which represent, individually or in the aggregate, a fundamental change in the information set forth therein is required to be filed with the Commission. As of their respective dates, the financial statements of the Company included in the SEC Reports complied in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis during the periods involved ("**GAAP**"), except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. The agreements and documents described in the Registration Statement, the Prospectus, the Prospectus Supplement, and the SEC Reports conform in all material aspects to the descriptions thereof contained therein and there are no agreements or other documents required by the Securities Act and the rules and regulations thereunder to be described in the Registration Statement, the Prospectus, the Prospectus Supplement or the SEC Reports or to be filed with the Commission as exhibits to the Registration Statement, that have not been so described or filed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Litigation</u>. There is no Action which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Securities or (ii) except as specifically disclosed in the SEC Reports, could, if there were an unfavorable decision, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect. Neither the Company, nor any Subsidiary, nor any director or officer thereof (in his or her capacity as such), is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty, except as specifically disclosed in the SEC Reports. There has not been, and to the knowledge of the Company, there is not pending any investigation by the Commission involving the Company or any current or former director or officer of the Company (in his or her capacity as such). The Commission has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company under the Exchange Act or the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Compliance</u>. Neither the Company no any Subsidiary (i) is in material default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in a material default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in material default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in material violation of any order of any court, arbitrator or Governmental Body, or (iii) is or has been in material violation of any statute, rule or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws relating to the business of the Company, taxes, environmental protection, occupational health and safety, product quality and safety, licensure and employment and labor matters (including social insurance and housing funds).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Regulatory Permits</u>. The Company possesses all material certificates, authorizations and permits issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct its businesses as described in the SEC Reports, except where the failure to possess such permits could not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, and the Company has not received any notice of proceedings relating to the revocation or modification of any such permits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Title to Assets</u>. The Company and the Subsidiaries have valid land use rights for all real property owned by them that is material to their respective businesses and good and marketable title in all personal property owned by them that is material to their respective businesses, in each case free and clear of all Liens, except for Liens as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries. Any real property and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases of which the Company and the Subsidiaries are in compliance, except as could not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Material Changes, Undisclosed Events</u>. Since the date of the latest audited financial statements included within the SEC Reports, except as specifically disclosed in a subsequent SEC Report filed prior to the date hereof, (i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) neither the Company nor any Subsidiary has incurred any material liabilities (direct, indirect, contingent, or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company's financial statements pursuant to GAAP or disclosed in filings made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its shareholders or purchased, redeemed or made any agreements to purchase or redeem any of its shares, (v) the Company has not waived any material right or material debt owed to it, (vi) neither the Company nor any Subsidiary has changed any material contract or arrangement by which the Company or Subsidiary is bound or to which its assets or properties is subject, and (vii) the Company has not issued any equity securities to any officer, director, consultant or Affiliate of the Company, except pursuant to existing Company equity incentive plans. No event, liability, development or circumstance has occurred or exists, or is reasonably expected to exist or occur with respect to the Company, any of its Subsidiaries or any of their respective businesses, properties, liabilities, prospects, operations (including results thereof) or condition (financial or otherwise), that (i) would be required to be disclosed by the Company under applicable securities laws and has not been publicly disclosed, (ii) could have a material adverse effect on the Investor's investment hereunder or (iii) could have a Material Adverse Effect. The Company does not have pending before the Commission any request for confidential treatment of information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Patents and Trademarks</u>. The Company and its Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights as described in the SEC Reports as necessary or material for use in connection with their respective businesses and which the failure to so have could have a Material Adverse Effect (collectively, the "**Intellectual Property Rights**"). Neither the Company nor any Subsidiary has received notice (written or otherwise) that any of the Intellectual Property Rights used by the Company or any Subsidiary violates or infringes upon the rights of any Person. To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights. The Company and its Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality and value of all of their intellectual properties, except where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Internal Accounting Controls</u>. The Company is in material compliance with the provisions of the Sarbanes-Oxley Act of 2002 currently applicable to the Company. The Company and the Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management's general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management's general or specific authorization, and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company has established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and designed such disclosure controls and procedures to ensure that material information relating to the Company, including its Subsidiaries, is made known to the certifying officers by others within those entities, particularly during the period in which the Company's annual report on Form 20-F is being prepared. The books, records and accounts of the Company accurately and fairly reflect the transactions in, and dispositions of, the assets of, and the results of operations of, the Company. The Company maintains and will continue to maintain a standard system of accounting established and administered in accordance with GAAP and the applicable requirements of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Tax Status</u>. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, each of the Company and Subsidiaries has filed all material and necessary federal, state and foreign income and franchise tax returns and has paid or accrued all taxes shown as due thereon, and to the knowledge of the Company, the Company or any Subsidiary has no material tax deficiency which has been asserted or threatened against the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <u>Solvency</u>. Based on the financial condition of the Company as of the Closing Date (and assuming that the Closing shall have occurred), (i) the Company's fair saleable value of its assets exceeds the amount that will be required to be paid on or in respect of the Company's existing debts and other liabilities (including known contingent liabilities) as they mature, (ii) the Company's assets do not constitute unreasonably small capital to carry on its business for the current fiscal year as now conducted and as proposed to be conducted including its capital needs taking into account the particular capital requirements of the business conducted by the Company, and projected capital requirements and capital availability thereof, and (iii) the current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its debt when such amounts are required to be paid. The Company does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <u>Certain Fees</u>. No brokerage or finder's fees or commissions are or will be payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by this Agreement. The Investor shall have no obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section 3.1(r) that may be due in connection with the transactions contemplated by the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) <u>Investment Company</u>. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities, will not be or be an Affiliate of, an "investment company" within the meaning of the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) <u>Listing and Maintenance Requirements</u>. Class A Ordinary Shares are registered pursuant to Section 12(b) of the Exchange Act, and the Company has taken no action designed to, or which to the knowledge of the Company is likely to have the effect of, terminating the registration of Class A Ordinary Shares under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating such registration. Except as specifically disclosed in the SEC Reports, the Company has not, in the 12 months preceding the date hereof, received notice from any Trading Market on which Class A Ordinary Shares are or have been listed or quoted to the effect that the Company is not in compliance with the listing or maintenance requirements of such Trading Market. The Company is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) <u>Money Laundering</u>. The Company is in compliance with, and has not previously violated, the USA Patriot Act of 2001 and all other applicable U.S. and non-U.S. anti-money laundering laws and regulations, including, without limitation, the laws, regulations and Executive Orders and sanctions programs administered by the U.S. Office of Foreign Assets Control, including, but not limited, to (i) Executive Order 13224 of September 23, 2001 entitled, "Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism" (66 Fed. Reg. 49079 (2001)); and (ii) any regulations contained in 31 CFR, Subtitle B, Chapter V.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>Application of Takeover Protections</u>. The Company has taken all necessary action in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Company's Organizational Documents or the laws of its jurisdiction of incorporation that is or could become applicable to the Investor as a result of the Investor and the Company fulfilling their obligations or exercising their rights under the Transaction Documents, including without limitation as a result of the Company's issuance of the Securities and the Investor's ownership of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) <u>No Integrated Offering</u>. Assuming the accuracy of the Investor's representations and warranties set forth in Section 3.2, neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause this offering of the Securities to be integrated with prior offerings by the Company for purposes of (i) the Securities Act which would require the registration of any such securities under the Securities Act, or (ii) any applicable shareholder approval provisions of any Trading Market on which any of the securities of the Company are listed or designated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) <u>No Additional Agreements</u>. The Company does not have any agreement or understanding with the Investor with respect to the transactions contemplated by the Transaction Documents other than as specified in the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) <u>Disclosure</u>. The Company confirms that neither it nor any Person acting on its behalf has provided the Investor or its respective agents or counsel with any information that the Company believes constitutes material, non-public information concerning the Company, the Subsidiaries or their respective businesses, except insofar as the existence and terms of the proposed transactions contemplated hereunder may constitute such information. The Company understands and confirms that the Investor will rely on the foregoing representations and covenants in effecting transactions in securities of the Company. All disclosure provided to the Investor regarding the Company, the Subsidiaries or their respective businesses and the transactions contemplated hereby, furnished by or on behalf of the Company (including the Company's representations and warranties set forth in this Agreement) are true and correct and do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.

Such Investor acknowledges and agrees that the Company has not made nor makes any representations or warranties with respect to the transactions contemplated hereby other than those specifically set forth in this Section 3.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. <u>Representations and Warranties of the Investors</u>. Each Investor, for itself and for no other Investor, hereby represents and warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein, in which case they shall be accurate as of such date):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Organization; Authority</u>. If the Investor is a business entity, such Investor is an entity duly incorporated or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of such Investor. This Agreement has been duly executed by such Investor, and when delivered by such Investor in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Investor, enforceable against it in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors' rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>No Conflicts</u>. The execution, delivery and performance by such Investor of any Transaction Document and the consummation by such Investor of the transactions contemplated hereby will not (i) result in a violation of the organizational documents of such Investor, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which such Investor is a party or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable to such Investor, except, in the case of clauses (ii) and (iii) above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of such Investor to perform its obligations under any Transaction Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Access to Information</u>. Such Investor acknowledges that it has reviewed the SEC Reports and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Securities and the merits and risks of investing in the Securities; (ii) access to information about the Company and the Subsidiaries and their respective financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. Neither such inquiries nor any other investigation conducted by or on behalf of such Investor or its representatives or counsel shall modify, amend or affect such Investor's right to rely on the truth, accuracy and completeness of the SEC Reports and the Company's representations and warranties contained in the Transaction Documents. Such Investor also acknowledges that the Company may possess material non-public information not known to such Investor regarding or relating to the Company or the Securities, and such Investor acknowledges that it has not requested such information and agrees that the Company shall have no liability whatsoever (and such Investor hereby waives and releases all claims which it would otherwise have) with respect to the non-disclosure of such information either prior to the date hereof or subsequent hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Certain Trading Activities</u>. Such Investor has not directly or indirectly, nor has any Person acting on behalf of or pursuant to any understanding with such Investor, engaged in any transactions in the securities of the Company (including, without limitations, any Short Sales involving the Company's securities) since the earlier to occur of (1) the time that such Investor was first contacted by the Company regarding an investment in the Company and (2) the 30<sup>th</sup> day prior to the date of this Agreement. Such Investor covenants that neither it nor any Person acting on its behalf or pursuant to any understanding with it will engage in any transactions in the securities of the Company (including Short Sales) prior to the time that the transactions contemplated by this Agreement are publicly disclosed.

The Company acknowledges and agrees that such Investor has not made or does not make any representations or warranties with respect to the transactions contemplated hereby other than those specifically set forth in this Agreement.

**ARTICLE 4.**<br> **OTHER AGREEMENTS OF THE PARTIES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. <u>Use of Proceeds</u>. The Company will use the proceeds from the sale of the Securities as described in the Prospectus Supplement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. <u>Securities Laws Disclosure; Publicity</u>. By 5:30 p.m. (New York time) on the second (2<sup>nd</sup>) Trading Day following the date hereof, the Company will furnish a Report on Form 6-K, disclosing the material terms of the Transaction Documents (and attach as exhibits thereto all existing Transaction Documents). The Company covenants that following such disclosure, no Investor shall be in possession of any material, non-public information with respect to the Company or any Subsidiary. In addition, the Company will make such other filings and notices in the manner and time required by the Commission and the Trading Market on which Class A Ordinary Shares may be listed. Notwithstanding the foregoing, the Company shall not publicly disclose the name of any Investor, or include the name of any Investor in any filing with the Commission or any regulatory agency or Trading Market upon which Class A Ordinary Shares may be listed, without the prior written consent of such Investor, except to the extent such disclosure is required by law or applicable Trading Market regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. <u>Indemnification of Investor</u>. The Company will indemnify and hold each Investor and its directors, officers, shareholders, partners, members, affiliates, employees and agents (each, an "**Investor Party**") harmless from any and all direct and indirect losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys' fees and costs of investigation in respect thereof (collectively, "**Losses**") that any Investor Party may suffer or incur as a result of or relating to any misrepresentation, breach or inaccuracy of any representation, warranty, covenant or agreement made by any of the Company in any Transaction Document. In addition to the indemnity contained herein, the Company will reimburse the Investor Party for its reasonable legal and other expenses (including the cost of any investigation, preparation and travel in connection therewith) incurred in connection therewith, as such expenses are incurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4. <u>Non-Public Information</u>. The Company covenants and agrees that neither it nor any other Person acting on its behalf will provide any Investor or its agents or counsel with any information that the Company believes constitutes material non-public information, unless prior thereto such Investor shall have executed a written agreement regarding the confidentiality and use of such information. The Company understands and confirms that each Investor shall be relying on the foregoing representations in effecting transactions in securities of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5. <u>Listing of Securities</u>. The Company agrees that it will take all action reasonably necessary to continue the listing and trading of its Class A Ordinary Shares on a Trading Market and will comply in all material respects with the Company's reporting, filing and other obligations under the bylaws or rules of the Trading Market.

**ARTICLE 5.**<br> **CONDITIONS PRECEDENT TO CLOSING**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. <u>Conditions Precedent to the Obligations of each Investor to Purchase the Shares and Warrants</u>. The obligation of each Investor to acquire the Shares and Warrants at the Closing is subject to the satisfaction or waiver by such Investor, at or before the Closing, of each of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Representations and Warranties</u>. The representations and warranties of the Company contained herein shall be true and correct in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect, in all respects) as of the date when made and as of the Closing as though made on and as of such date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Performance</u>. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by it at or prior to the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Injunction</u>. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated by the Transaction Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>No Suspensions of Trading in Class A Ordinary Shares; Listing</u>. Trading in Class A Ordinary Shares shall not have been suspended by the Commission, any Trading Market or any governmental or regulatory body (except for any suspensions of trading of not more than one Trading Day solely to permit dissemination of material information regarding the Company) at any time since the date of execution of this Agreement, Class A Ordinary Shares shall have been at all times since such date listed for trading on a Trading Market, and the Company shall not have received notice of any delisting or removal from trading on any Trading Market;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Adverse Changes</u>. Since the date of execution of this Agreement, no event or series of events shall have occurred that reasonably could have or result in a Material Adverse Effect or a material adverse change with respect to the Company or any Subsidiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Company Deliverables</u>. The Company shall have delivered the Company Deliverables in accordance with Section 2.3(a) to such Investor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. <u>Conditions Precedent to the Obligations of the Company to Sell the Shares and Warrants</u>. The obligation of the Company to sell and issue the Shares and Warrants at the Closing to each Investor is subject to the satisfaction or waiver by the Company, at or before the Closing, of each of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Representations and Warranties</u>. The representations and warranties of such Investor contained herein shall be true and correct in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect, in all respects) as of the date when made and as of the Closing Date as though made on and as of such date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Performance</u>. Such Investor shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by such Investor at or prior to the Closing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Injunction</u>. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated by the Transaction Documents; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Investor Deliverables</u>. Such Investor shall have delivered the Investor Deliverables in accordance with Section 2.3(b).

**ARTICLE 6.**<br> **MISCELLANEOUS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. <u>Fees and Expenses</u>. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of the Transaction Documents. The Company shall pay all stamp and other taxes and duties levied in connection with the delivery of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. <u>Termination</u>. This Agreement may be terminated by any Investor, as to such Investor's obligations hereunder only and without any effect whatsoever on the obligations between the Company and the other Investors, by written notice to the other parties, if the Closing has not been consummated on or before the fifth (5th) Trading Day following the date hereof; provided, however, that no such termination will affect the right of any party to sue for any breach by any other party (or parties).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3. <u>Entire Agreement</u>. The Transaction Documents, together with the exhibits and schedules thereto, the Prospectus and the Prospectus Supplement, contain the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements, understandings, discussions and representations, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4. <u>Notices</u>. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of: (a) the time of transmission, if such notice or communication is delivered via facsimile at the facsimile number or email attachment at the email address as set forth below or on the signature pages attached hereto at or prior to 4:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or email attachment at the email address as set forth below or on the signature pages attached hereto on a day that is not a Trading Day or later than 4:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as follows:

---

| | |
|:---|:---|
| If to the Company: | SOLOWIN HOLDINGS |
|  | Room 1910-1912A, Tower 3, China Hong Kong City |
|  | 33 Canton Road, Tsim Sha Tsui, Kowloon |
|  | Hong Kong |
|  | Attn.: Chief Executive Officer |
|  | Facsimile: (852)3428-3893 |
|  | Email: peter@spw.com.hk |
| If to an Investor: | To the address set forth under such Investor's name on the signature pages hereof; |

---

or such other address as may be designated in writing hereafter, in the same manner, by such Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5. <u>Amendments; Waivers; No Additional Consideration</u>. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of an amendment, by the Company and the Investors which purchased at least 50.1% in interest of the Securities hereunder or, in the case of a waiver, by the party against whom enforcement of any such waiver is sought, provided that if any amendment, modification or waiver disproportionately and adversely impacts an Investor (or group of Investors), the consent of such disproportionately impacted Investor (or group of Investors) shall also be required. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right. Any amendment effected in accordance with this Section 6.5 shall be binding upon each Investor and holder of Securities and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6. <u>Construction</u>. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. This Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement or any of the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7. <u>Successors and Assigns</u>. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Investor (other than by merger). Any Investor may assign any or all of its rights under this Agreement to any Person to whom the Investor assigns or transfers any Securities, provided that such transferee agrees in writing to be bound, with respect to the transferred Securities, by the provisions of the Transaction Documents that apply to the "Investor."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8. <u>No Third-Party Beneficiaries</u>. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise set forth in Section 4.5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9. <u>Governing Law</u>. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all Proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective Affiliates, employees or agents) shall be commenced exclusively in the New York Courts. Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of the any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any Proceeding, any claim that it is not personally subject to the jurisdiction of any such New York Court, or that such Proceeding has been commenced in an improper or inconvenient forum. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such Proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. If either party shall commence a Proceeding to enforce any provisions of a Transaction Document, then the prevailing party in such Proceeding shall be reimbursed by the other party for its reasonable attorneys' fees and other costs and expenses incurred with the investigation, preparation and prosecution of such Proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10. <u>Survival</u>. The representations and warranties contained herein shall survive the Closing and the delivery of the Shares and Warrants, until the second anniversary of the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.11. <u>Execution</u>. This Agreement may be executed and delivered (including by facsimile transmission and electronic mail attaching a portable document file (.pdf)) in one or more counterparts and all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a ".pdf" format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or ".pdf" signature page were an original thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.12. <u>Severability</u>. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13. <u>Rescission and Withdrawal Right</u>. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) any of the other Transaction Documents, whenever any Investor exercises a right, election, demand or option under a Transaction Document and the Company does not timely perform its related obligations within the periods therein provided, then such Investor may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.14. <u>Replacement of Shares</u>. If any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity, if requested. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement Shares. If a replacement certificate or instrument evidencing any Shares is requested due to a mutilation thereof, the Company may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15. <u>Remedies</u>. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each Investor and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in the foregoing sentence and hereby agree to waive and not to assert in any Action for specific performance of any such obligation the defense that a remedy at law would be adequate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.16. <u>Independent Nature of Investors' Obligations and Rights</u>. The obligations of each Investor under the Transaction Documents are several and not joint with the obligations of any other Investor, and no Investor shall be responsible in any way for the performance of the obligations of any other Investor under any Transaction Document. Nothing contained herein or in any other Transaction Document, and no action taken by any Investor pursuant hereto or thereto, shall be deemed to constitute the Investors as, and the Company acknowledges that the Investors do not so constitute, a partnership, an association, a joint venture or any other kind of group or entity, or create a presumption that the Investors are in any way acting in concert or as a group or entity, and the Company shall not assert any such claim with respect to such obligations or the transactions contemplated by the Transaction Documents or any matters, and the Company acknowledges that the Investors are not acting in concert or as a group, and the Company shall not assert any such claim, with respect to such obligations or the transactions contemplated by the Transaction Documents. The decision of each Investor to purchase Securities pursuant to the Transaction Documents has been made by such Investor independently of any other Investor. Each Investor acknowledges that no other Investor has acted as agent for such Investor in connection with such Investor making its investment hereunder and that no other Investor will be acting as agent of such Investor in connection with monitoring such Investor's investment in the Securities or enforcing its rights under the Transaction Documents. The Company and each Investor confirms that each Investor has independently participated with the Company and its Subsidiaries in the negotiation of the transaction contemplated hereby with the advice of its own counsel and advisors. Each Investor shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement or out of any other Transaction Documents, and it shall not be necessary for any other Investor to be joined as an additional party in any proceeding for such purpose. It is expressly understood and agreed that each provision contained in this Agreement and in each other Transaction Document is between the Company, each Subsidiary and an Investor, solely, and not between the Company, its Subsidiaries and the Investors collectively and not between and among the Investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.17. <u>Further Assurances</u>. The parties shall execute and deliver all such further instruments and documents and take all such other actions as may reasonably be required to carry out the transactions contemplated hereby and to evidence the fulfillment of the agreements herein contained. Without limiting the foregoing, in the event that The Nasdaq Stock Market LLC ("**Nasdaq**") or any other applicable regulatory authority raises any objection, concern, or issue with respect to the terms, structure, or consummation of the transactions contemplated by this Agreement, including, but not limited to, the purchase price, the number of Securities or other securities to be issued, or any other material term of the offering (a "**Regulatory Issue**"), the Company and each Investor agree to cooperate in good faith and to take all actions reasonably necessary or advisable to address, resolve, or remedy such Regulatory Issue. Such actions may include, without limitation: (i) adjusting the purchase price, (ii) surrendering, cancelling, or otherwise adjusting the number of Shares and/or Warrants issued to any Investor; (iii) amending, modifying, or supplementing this Agreement or any related agreements or instruments to the extent necessary to comply with applicable rules, regulations, or requirements of Nasdaq or any other regulatory authority; and (iv) taking any other action reasonably required by Nasdaq or any other regulatory authority to permit the consummation of the transactions contemplated hereby in compliance with all applicable laws, rules, and regulations. The Company shall promptly notify the Investors in writing upon becoming aware of any Regulatory Issue. Any adjustments or actions taken pursuant to this Section shall be made in a manner that, to the extent practicable, preserves the original intent and economic terms of the transaction as set forth in this Agreement, subject to compliance with applicable regulatory requirements.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK<br> SIGNATURE PAGES FOLLOW]

IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

---

| | | |
|:---|:---|:---|
| **SOLOWIN HOLDINGS** | **SOLOWIN HOLDINGS** | **SOLOWIN HOLDINGS** |
| By: | /s/ Ling Ngai Lok | /s/ Ling Ngai Lok |
|  | Name: | Ling Ngai Lok |
|  | Title: | Chief Executive Officer |

---

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK<br> SIGNATURE PAGE FOR THE INVESTOR FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

---

| |
|:---|
| **NAME OF INVESTOR** |
| **______________________________________** |
| By: ___________________________________ |
| Name: |
| Tax ID No.: _____________________________ |
| **Aggregate Purchase Price _________________** |
| **Amount of Shares**________________________ |
| **Amount of Warrants**______________________ |
| **ADDRESS FOR NOTICE** |
| ______________________________________ |
| ______________________________________ |
| ______________________________________ |
| Attention: ______________________________ |
| Facsimile: ______________________________ |
| Email: _________________________________ |
| **DELIVERY INSTRUCTIONS** |
| &nbsp;&nbsp;&nbsp;(if different from above) |
| c/o: ___________________________________ |
| Street: _________________________________ |
| City/State/Country/Zip: ____________________ |
| Attention: ______________________________ |
| Facsimile: ______________________________ |
| Email: _________________________________ |

---

**<u>Exhibit A</u>**

<u>Class A Ordinary Shares Purchase Warrant</u>