# EDGAR Filing Document

**Accession Number:** 0002083031
**File Stem:** 0001493152-25-016419
**Filing Date:** 2025-10
**Character Count:** 1106020
**Document Hash:** e68b344ba2e2901be07f7a4df1fc3d47
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-016419.hdr.sgml**: 20260105

**ACCESSION NUMBER**: 0001493152-25-016419

**CONFORMED SUBMISSION TYPE**: DRS/A

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20251001

**DATE AS OF CHANGE**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALBERT ORIGIN ACQUISITION Corp
- **CENTRAL INDEX KEY:** 0002083031
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** DRS/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 377-08377
- **FILM NUMBER:** 251362157

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** SUITE #4-210,GOVERNORS SQUARE, 23 LIME
- **STREET 2:** TREE BAY AVENUE, PO BOX 32311
- **CITY:** GRAND CAYMAN
- **PROVINCE COUNTRY:** E9
- **ZIP:** 00000
- **BUSINESS PHONE:** 8618611755291

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** SUITE #4-210,GOVERNORS SQUARE, 23 LIME
- **STREET 2:** TREE BAY AVENUE, PO BOX 32311
- **CITY:** GRAND CAYMAN
- **PROVINCE COUNTRY:** E9
- **ZIP:** 00000

**As confidentially submitted to the U.S. Securities and Exchange Commission on September 30, 2025.**

**This Draft Registration Statement has not been filed publicly with the U.S. Securities Exchange Commission and all information contained herein remains strictly confidential.**

**Registration Statement No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-1**

**REGISTRATION STATEMENT**

***UNDER***

***THE SECURITIES ACT OF 1933***

 

**Albert Origin Acquisition Corporation**

**(Exact name of Registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **6770** | **Not Applicable** |
| (State or other jurisdiction of <br> incorporation or organization) | (Primary Standard Industrial<br> Classification Code Number) | (I.R.S. Employer<br> Identification Number) |

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**Room 1018, CYTS Plaza**

**No.5 Dongzhimen South Avenue, Dongcheng District**

**Beijing, China 100007**

**Telephone:+86-10 6600 6177**

**(Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices)**

**(Name, address, including zip code, and telephone number, including area code, of agent for service)**

***Copies to:***

 ****

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| | |
|:---|:---|
| **Yang Ge, Esq.**<br> **DLA Piper UK LLP**<br> **20<sup>th</sup> Floor, South Tower, Kerry Center**<br> **No.1 Guanghua Road, Chaoyang District<br> Beijing, China 100020** <br> **Telephone: +86-10-8520-0616** | **Max Gu, Esq.**<br> **Robert S. Matlin, Esq.**<br> **David A. Bartz, Esq.**<br> **K&L Gates LLP**<br> **599 Lexington Avenue**<br> **New York, NY 10022**<br> **Telephone: (212) 536-3900** |

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**Approximate date of commencement of proposed sale to the public:** As soon as practicable after the effective date of this registration statement.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box: ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the Registration Statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.**

**The information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.**

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| | |
|:---|:---|
| **PRELIMINARY PROSPECTUS** | **Subject to Completion Dated , 2025** |

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**$60,000,000**

**Albert Origin Acquisition Corporation**

**6,000,000 Units**

Albert Origin Acquisition Corporation is a blank check company incorporated as a Cayman Islands exempted company with limited liability for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, which we refer to as our initial business combination. Our efforts to identify a prospective target business will not be limited to a particular industry, while we intend to focus on identifying a prospective target business in North America, Europe, Asia or Oceania*.* We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.

This is an initial public offering of our securities. Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one right to receive one-seventh (1/7) of one Class A ordinary share, as described in more detail in this prospectus. No fractional shares will be issued upon conversion of the rights. As a result, you must have seven (7) rights to receive one Class A ordinary share upon the consummation of the initial business combination. We have granted the underwriter a 45-day option from the date of this prospectus to purchase up to 900,000 additional units to cover over-allotments, if any.

We will provide our public shareholders with the opportunity to redeem all or a portion of their Class A ordinary shares that were sold as part of the units in this offering, which we refer to collectively as our public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account described below as of two business days prior to the consummation of our initial business combination, including interest earned on the funds held in the trust account (net of taxes payable), divided by the number of then outstanding public shares, upon the completion of our initial business combination, subject to the limitations and conditions as described herein. Our post-offering memorandum and articles of association provide that we will have only the completion window to complete our initial business combination. If we have not completed our initial business combination within such time period, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter (and subject to lawfully available funds therefor), redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (net of taxes payable and less up to $100,000 of interest to pay dissolution expenses), divided by the number of then-outstanding public shares, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. See "*Prospectus Summary — The Offering*" for more information.

Our sponsor, Issacyan Co., Ltd, a BVI business company (which we refer to as our "sponsor" throughout this prospectus), [has agreed] to purchase an aggregate of 221,100 units, or "private units", at $10.00 each, or 234,600 private units if the underwriter's over-allotment option is exercised in full, in a private placement to occur concurrently with the closing of this offering. These private units are identical to the units sold as part of the units in this offering, subject to limited exceptions as further described herein. We refer to the shares included in the private units throughout this prospectus as the "private shares" and the rights included in the private units as the "private rights." All of the proceeds we receive from these purchases will be placed in the trust account described below.

Our sponsor currently owns 2,957,143 Class B ordinary shares with par value of $0.0001 each (which were purchased for $25,000 and which we refer to as "founder shares"), up to 385,714 of which are subject to forfeiture depending on the extent to which the underwriter's over-allotment option is exercised. Prior to our initial business combination, only holders of our Class B ordinary shares will have the right to vote on the appointment and removal of directors, which means that holders of a majority of our founder shares may remove a member of the board of directors for any reason. Holders of our Class A ordinary shares will not be entitled to vote on the appointment or removal of directors during such time. Further, prior to the closing of our initial business combination, only holders of our Class B ordinary shares will be entitled to vote on continuing our company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend our constitutional documents or to adopt new constitutional documents as a result of our approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands). The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of our initial business combination, or at any time prior thereto at the option of the holder thereof, on a one-for-one basis, subject to adjustment as provided herein. Because our sponsor acquired the founder shares at a nominal price, our public shareholders will incur an immediate and substantial dilution upon the closing of this offering, assuming no value is ascribed to the rights included in the units. *See "Risk Factors – Risks Relating to Our Securities – Our initial shareholder paid an aggregate of $25,000, or approximately $0.008 per founder share and, accordingly, you will experience immediate and substantial dilution from the purchase of our Class A ordinary shares."*

Our sponsor has agreed to purchase an aggregate of 221,100 private placement units (including if the underwriter's over-allotment option is exercised in full), at a price of $10.00 per unit, or $2,211,000 in the aggregate (including if the underwriter's over-allotment option is exercised), in a private placement that will close simultaneously with the closing of this offering. We refer to these units throughout this prospectus as the private units. Each placement unit consists of one Class A ordinary share and one right. Each private share included in each private unit will not have any redemption rights nor be entitled to liquidating distributions from the trust account if we fail to consummate an initial business combination. See "*Prospectus Summary — Sponsor Information," "The Offering — Private units," "The Offering — Transfer restrictions on founder shares and private units," "Management's Discussion and Analysis of Financial Condition and Results of Operation — Related Party Transactions,"* "*Management — Sponsor Information,*" *"Principal Shareholders — Transfer Restrictions on Founder Shares and Private Units," "Principal Shareholders — Registration Rights," "Certain Relationships and Related Party Transactions," "Description of Securities" and "Shares Eligible for Future Sale"* for more information.

We are not prohibited from paying any fees (including advisory fees, consulting fees or success fees) and reimbursements or cash payments to our sponsor, officers or directors, or our or their affiliates, for services rendered to us prior to or in connection with the completion of our initial business combination, including payment of consulting, legal, success or finder fees to our independent directors, advisors, or their respective affiliates in connection with the consummation of our initial business combination. Prior to the closing of this offering, our sponsor agreed to loan us up to $500,000 to cover offering-related and organizational expenses. The loan is payable without interest on the earlier of (i) December 31, 2026 or (ii) date on which we consummate our initial public offering. In order to finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated to, loan us additional funds as may be required. In the event that the initial business combination does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts, but no proceeds from our trust account would be used for such repayment. If the $1,500,000 in working capital loans is fully advanced and the holders of the loan elect to convert the working capital loans into private units at $10.00 per unit, resulting in the holders receiving an additional 150,000 private Class A ordinary shares and 150,000 private placement rights (where each private right entitles the holder to receive one-seventh (1/7) of one private Class A ordinary share), it could materially dilute our public shareholders. Moreover, commencing from the date that our securities are first listed on Nasdaq through the earlier of the consummation of our initial business combination and our liquidation, our sponsor will make available to us certain general and administrative services, including office space, administrative and support services, as we may require from time to time. We will pay our sponsor up to $10,000 per month for these services, payable upon consummation of our initial business combination (if we do not consummate an initial business combination, any accrued and unpaid amounts shall be forgiven). No administrative service expense will be accrued prior to the closing of our initial public offering. As a result, there may be actual or potential material conflicts of interest between members of our management team, our sponsor and their affiliates on one hand, and purchasers in this offering on the other. Our audit committee will review on a quarterly basis all payments that were made to our sponsor, directors or officers, or our or their affiliates. See "*Prospectus Summary — Sponsor Information*," "*The Offering — Limited payments to insiders*," *The Offering — Anticipated expenses and funding sources," "Management's Discussion and Analysis of Financial Condition and Results of Operation — Related Party Transactions," "Certain Relationships and Related Party Transactions*" and "*Management — Sponsor Information*" for further discussion on compensation paid or to be paid to our sponsor and its affiliates.

As more fully discussed in "*The Offering — Conflicts of Interest,*" "*Management — Conflicts of Interest*" and "*Proposed Business — Sourcing of Potential Business Combination Targets*," each of our officers and directors presently has, and any of them in the future may have additional, fiduciary, contractual or other obligations or duties to one or more other entities pursuant to which such officer or director is or will be required to present a business combination opportunity to such entities. The low price that our sponsor paid for the founder shares, approximately $0.008 per founder share*,* creates an incentive whereby our officers and directors could potentially make a substantial profit even if we select an acquisition target that subsequently declines in value and is unprofitable for public shareholders. If we are unable to complete our initial business combination within 15 months and the extension period from the closing of this offering, or by such earlier liquidation date as our board of directors may approve, the founder shares and private units may be worthless, except to the extent they receive liquidating distributions from assets outside the trust account, which could create an incentive for our sponsor, executive officers and directors to complete a transaction even if we select an acquisition target that subsequently declines in value and is unprofitable for public shareholders. Further, each of our officers and directors may have a conflict of interest with respect to evaluating a particular business combination if the retention or resignation of any such officers and directors was included by a target business as a condition to any agreement with respect to our initial business combination.

The following table illustrates the difference between the public offering price per unit and our net tangible book value per share (NTBV), as adjusted to give effect to this offering and assuming the redemption of our public shares at varying levels and the exercise in full and no exercise of the over-allotment option. See *"Dilution"* for more information.

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** |
| **Offering Price of**<br> **$10.00 per Unit** | **25% of Maximum**<br> **Redemption** | **25% of Maximum**<br> **Redemption** | **50% of Maximum**<br> **Redemption** | **50% of Maximum**<br> **Redemption** | **75% of Maximum**<br> **Redemption** | **75% of Maximum**<br> **Redemption** | **Maximum**<br> **Redemption** | **Maximum**<br> **Redemption** |
| **NTBV** | **NTBV** | **Difference**<br> **between**<br> **NTBV and**<br> **Offering Price** | **NTBV** | **Difference**<br> **between**<br> **NTBV and**<br> **Offering Price** | **NTBV** | **Difference**<br> **between NTBV**<br> **and Offering**<br> **Price** | **NTBV** | **Difference**<br> **between**<br> **NTBV and**<br> **Offering Price** |
| *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* |
| 6.10 | 5.45 | 4.55 | 4.56 | 5.44 | 3.22 | 6.78 | 1.01 | 8.99 |
| *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* |
| 6.08 | 5.44 | 4.56 | 4.56 | 5.44 | 3.26 | 6.74 | 1.13 | 8.87 |

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Prior to this offering, there is no public market for our securities. We have applied to apply to list our units on the Nasdaq Capital Market (the "Nasdaq") under the symbol "ALOGU." We cannot guarantee that our securities will be approved for listing on the Nasdaq. We expect the Class A ordinary shares and rights comprising the units will begin separate trading on the 52<sup>nd</sup> day after the closing of this offering unless A.G.P./Alliance Global Partners ("A.G.P.") informs us of its decision to allow earlier separate trading, subject to our satisfaction of certain conditions as described further herein. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights will be traded on the Nasdaq under the symbols "ALOG" and "ALOGR," respectively.

We are a Cayman Islands exempted company, and the majority of our directors and executive officers are located outside of the United States. As a result, it may be difficult for investors to effect service of process within the United States on our company, directors and executive officers, or enforce judgments obtained in the United States courts against our company, directors and executive officers.

Our sponsor, Issacyan Co., Ltd., is incorporated in the British Virgin Islands. Our sponsor will own 30% of our issued and outstanding shares following this offering, assuming that it does not purchase units in this offering and excluding Class A ordinary shares underlying the private units, Representative Shares (as defined herein) and A.G.P. Shares (as defined herein). As a result, we may be considered a "foreign person" under rules promulgated by the Committee on Foreign Investment in the United States ("CFIUS") and may not be able to complete an initial business combination with a U.S. target company since such initial business combination may be subject to U.S. foreign investment regulations and review by a U.S. government entity such as CFIUS, or ultimately prohibited. As a result, the pool of potential targets with which we could complete an initial business combination may be limited. See "*Risk Factors — Risks Relating to Our Management — Due to the significant ties of certain of our executive officers, directors and Sponsor to the PRC, we may be a less attractive partner to non-PRC-based target companies as compared to a non-PRC based SPAC, therefore this may make it more difficult for us to complete an initial business combination with a target company that is non-PRC*."

As a Cayman Islands holding company with no material operations of our own, our Sponsor and certain of our executive officers and directors have significant ties to the People's Republic of China ("PRC"). As a result, we may be subject to certain legal and operational risks. Specifically, we may be subject to regulatory review of overseas listing of PRC companies. We may also be subject to the risks of uncertainty about any future actions of the PRC government in this regard, which could cause the value of our securities to significantly decline or become worthless. The fact that our Sponsor and certain of our executive officers and directors have significant ties to China may also result in a material change in our operations and/or our search for a target company. Due to our Sponsor and certain of our executive officers and directors being having significant ties to China, we may be a less attractive partner to non-PRC based target companies as compared to a non-PRC based Special Purpose Acquisition Company ("SPAC"), therefore this may make it more difficult for us to complete an initial business combination with a target company that is non-PRC based. See "*Risk Factors — Risks Relating to Our Management — Due to the significant ties of certain of our executive officers, directors and Sponsor to the PRC, we may be a less attractive partner to non-PRC-based target companies as compared to a non-PRC based SPAC, therefore this may make it more difficult for us to complete an initial business combination with a target company that is non-PRC*" and "*Risk Factors — Risks Relating to Our Search for, and Consummation of or Inability to Consummate, a Business Combination — Since certain of our directors and officers are based in or have significant ties to China, the Chinese government may have potential oversight and discretion over the conduct of our directors' and officers' search for a target company. The Chinese government may intervene or influence our operations at any time through our directors and officers who are based in or have significant ties to China, which could result in a material change in our search for a target business and the value of the securities we are offering. Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be adopted quickly with little advance notice and could have a significant impact upon our ability to operate.*"

If we consummate an initial business combination with a company conducting its business in the PRC, we may operate in the PRC primarily through our PRC subsidiaries. We may also adopt a series of contractual arrangements with variable interest entities in the PRC (the "VIEs"), in which case (i) the VIEs will be PRC-based operations companies and our PRC subsidiaries will be shell companies and (ii) investors in our securities will not and may never directly own equity interest in the VIEs but will instead hold equity interest in a holding company of our PRC subsidiaries. Under the VIE arrangement, the dividends or other distributions to be paid by our PRC subsidiaries to their overseas holding company will depend on such PRC subsidiaries' entitlement to substantially all of the economic benefits of the VIEs, which are typically in the form of services fees or license fees payable by the VIEs to our PRC subsidiaries under various VIE agreements. Such contractual arrangements may not be as effective as direct ownership in providing us with control over the VIEs and we may be adversely affected if we experience difficulties in settling the amounts owed to our PRC subsidiaries by the VIEs. Recently, the PRC government initiated a series of regulatory actions and statements to regulate business operations in China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over China-based companies listed overseas using a VIE structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. It remains uncertain how soon Chinese legislative or administrative regulation making bodies will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any, and the potential impact such modified or new laws and regulations will have on our capability to acquire or merge with a company with major operations in China, and post-combination entity's ability to conduct its business, accept foreign investments or list on an U.S. exchange or other foreign exchange. Accordingly, modified or new laws and regulations could result in a material change in the target company's post-combination operations, significant depreciation of the value of our Class A ordinary shares, or a complete limitation of our ability to offer or continue to offer our securities to investors.

Currently, we are a single entity and do not make any internal cash transfers. However, if our organizational structure expands, or if we acquire a PRC target company which does not require a VIE structure, we may transfer funds to the PRC target company through an increase in the registered capital of or a shareholder loan to the PRC target company. The PRC target company may in turn make distributions or pay dividends to us. If we acquire a PRC target company which requires a VIE structure, the post-combination entity may rely on payments made from the VIE to a wholly foreign-owned enterprise (the "WFOE") and subsequently the WFOE distributes funds to the post-combination entity as dividends, and cash to the PRC target company could be transferred through our organization in the manner as follows: (i) the holding company may transfer funds to WFOE, via additional capital contributions or shareholder loans, as the case may be; and (ii) the WFOE may provide loans to the PRC target company, subject to statutory limits and restrictions. Any such transfer of funds within and among the subsidiaries will be subject to PRC regulations. Specifically, investment in Chinese companies is governed by the PRC Foreign Investment Law, the dividends and distributions from a PRC subsidiary are subject to regulations and restrictions on dividends and payments to parties outside of China, and any transfer of funds among the PRC subsidiaries is subject to regulations on private lending and must be permitted thereunder. Additionally, the PRC government may impose controls on the conversion of Renminbi into foreign currencies and the remittance of currencies out of the PRC. In order for the combined company to pay dividends to its shareholders, the combined company will rely on payments made from the PRC subsidiaries of the combined company and the distribution of such payments to the combined company as dividends from the PRC subsidiaries of the combined company. The dividends and distributions from a PRC subsidiary will be subject to regulations and restrictions on dividends and payments to parties outside of China and the combined company may experience difficulties in completing the administrative procedures necessary to obtain and remit foreign currency for the payment of dividends from its subsidiaries, if any.

On February 17, 2023, the China Securities Regulatory Commission (the "CSRC") promulgated the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (the "Trial Administrative Measures"), which took effect on March 31, 2023. The Trial Administrative Measures further clarified and emphasized several aspects, including (i) comprehensive determination of the "indirect overseas offering and listing by PRC domestic companies" in compliance with the principle of "substance over form" and particularly, an issuer will be required to go through the filing procedures under the Trial Administrative Measures if the following criteria are met at the same time: a) 50% or more of the issuer's operating revenue, total profit, total assets or net assets as documented in its audited consolidated financial statements for the most recent accounting year is accounted for by PRC domestic companies, and b) the main parts of the issuer's business activities are conducted in mainland China, or its main places of business are located in mainland China, or the senior managers in charge of its business operation and management are mostly Chinese citizens or domiciled in mainland China; (ii) exemptions from immediate filing requirements for certain types of issuers; (iii) a negative list of types of issuers banned from listing overseas, such as issuers under investigation for bribery and corruption; (iv) regulation of issuers in specific industries; (v) issuers' compliance with national security measures and the personal data protection laws; and (vi) certain other matters such as: an issuer must file with the CSRC within three business days after it submits an application for initial public offering to competent overseas regulators; and subsequent reports shall be filed with the CSRC on material events, including change of control or voluntary or forced delisting of the issuers who have completed overseas offerings and listings.

Our company is a blank check company incorporated under the laws of the Cayman Islands. We currently do not hold any equity interest in any PRC company or operate any business in China. Therefore, we believe we are not required to obtain permissions or approvals from any PRC government authorities, including the CSRC or the Cyberspace Administration of China (the "CAC"), or any other government entity, to issue our securities to foreign investors and to list on a U.S. exchange or operate our business. As of the date of this prospectus, we have not received any inquiry, notice, warning, sanctions or regulatory objection to this offering from the CSRC or any other PRC governmental authorities. However, if applicable laws, regulations, or interpretations change and we are required to obtain any permissions or approvals from the PRC governmental authority in the future, or if we are denied permission and/or approvals, the relevant PRC government agencies could subject us to a stringent approval process from the relevant government entities in connection with this offering, continued listing on a U.S. exchange, the potential business combination, the issuance of shares or the maintenance of our status as a publicly listed company outside China, and the post business combination entity's PRC operations if our business combination target is a PRC target company, which would materially affect the interest of the investors. In addition, any changes in PRC law, regulations, or interpretations may severely affect our operations after this offering. The use of the term "operate" and "operations" includes the process of searching for a target business and conducting related activities. To that extent, we may not be able to conduct the process of searching for a potential target company in China.

The PRC government has significant authority to exert influence on the ability of a China-based company to conduct its business, make or accept foreign investments or list on a U.S. stock exchange. For example, if we enter into a business combination with a target business operating in China, the combined company may face risks associated with regulatory approvals of the proposed business combination between us and the target, offshore offerings, anti-monopoly regulatory actions, cybersecurity and data privacy, as well as the lack of the United States Public Company Accounting Oversight Board ("PCAOB") inspection on its auditors or the auditors of the target business. In addition, the combined company may be subject to legal and operational risks associated with having substantially all of operations in China, including risks related to the legal, political and economic policies of the Chinese government, the relations between China and the United States, or Chinese or United States regulations, which risks could result in a material change in the combined company's operations and the value of the securities of the combined company.

In addition, we and our directors and officers who are based in or have significant ties to China may be subject to certain risks relating to regulatory oversight by the PRC government. In particular, changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be adopted quickly with little advance notice. The Chinese government may also intervene with or influence our operations, including our search for a target business or the completion of an initial business combination, at any time through our directors and officers who are based in or have significant ties to China. This could significantly and negatively impact our search for a target business and the value of the securities we are offering for sale. See "*Risk Factors — Risks Relating to Our Search for, and Consummation of or Inability to Consummate, a Business Combination — Since certain of our directors and officers are based in or have significant ties to China, the Chinese government may have potential oversight and discretion over the conduct of our directors' and officers' search for a target company. The Chinese government may intervene or influence our operations at any time through our directors and officers who are based in or have significant ties to China, which could result in a material change in our search for a target business and the value of the securities we are offering. Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be adopted quickly with little advance notice and could have a significant impact upon our ability to operate.*"

Furthermore, the PRC government may also intervene with or influence the combined company's operations at any time as the government deems appropriate to further regulatory, political and societal goals. The PRC government has recently published new policies that significantly affected certain industries such as the education and internet industries, and we cannot rule out the possibility that it will in the future release regulations or policies regarding any industry that could adversely affect our potential business combination with a PRC operating business and the business, financial condition and results of operations of the combined company. Any such action, once taken by the PRC government, could make it more difficult and costly for us to consummate a business combination with a target business operating in the PRC, result in material changes in the combined company's post-combination operations and cause the value of the combined company's securities to significantly decline or become worthless, or significantly limit or completely hinder the combined company's ability to offer or continue to offer securities to investors.

On December 16, 2021, the PCAOB issued a report to notify the SEC of its determination that the PCAOB was unable to inspect or investigate completely registered public accounting firms headquartered in mainland China and Hong Kong. On December 15, 2022, the PCAOB removed mainland China and Hong Kong from the list of jurisdictions where it is unable to inspect or investigate completely registered public accounting firms. Our auditor, Adeptus Partners, LLC is an independent registered public accounting firm with the PCAOB and has been inspected by the PCAOB on a regular basis. The PCAOB currently has access to inspect the working papers of our auditor. Our auditor, Adeptus Partners, LLC, is headquartered in Ocean, New Jersey, and was not identified in the report as a firm subject to the PCAOB's determination. As a special purpose acquisition company, our current business activities only involve preparation of this offering and will involve searching for targets and consummation of a business combination following this offering.

In addition, we will affirmatively exclude any target company the financial statements of which are audited by an accounting firm that the PCAOB has been unable to inspect for two consecutive years at the time of our business combination. Notwithstanding the foregoing, in the event that we decide to consummate our initial business combination with a target business based in or primarily operating in China, if there is any regulatory change which prohibits the independent accountants from providing audit documentations located in mainland China or Hong Kong to the PCAOB for inspection or investigation or the PCAOB expands the scope of the Determination Report so that the target company or the combined company is subject to the HFCAA, as the same may be amended, you may be deprived of the benefits of such inspection which could result in limitation or restriction to our access to the U.S capital markets and trading of our securities on a national securities exchange or in the over-the-counter trading market in the U.S. may be prohibited, under the HFCAA. On December 29, 2022, the President signed the Consolidated Appropriations Act, 2023, which, among other things, amended the HFCAA to reduce the number of consecutive years an issuer can be identified as a Commission-Identified Issuer before the Commission must impose an initial trading prohibition on the issuer's securities from three years to two years. Therefore, once an issuer is identified as a Commission-Identified Issuer for two consecutive years, the Commission is required under the HCFAA to prohibit the trading of the issuer's securities on a national securities exchange and in the over-the-counter market. If the combined company's auditor cannot be inspected by the PCAOB for two consecutive years, the trading of the securities on any U.S. national securities exchanges, as well as any over-the-counter trading in the U.S., will be prohibited. See "*Risk Factors — Risks Relating to Our Securities *—* Trading in our securities may be prohibited under the Holding Foreign Companies Accountable Act if the PCAOB determines that it cannot inspect or fully investigate our auditor. In that case, Nasdaq would delist our securities. The delisting of our securities, or the threat of their being delisted, may materially and adversely affect the value of your investment. Additionally, the inability of the PCAOB to conduct inspections may deprive our investors with the benefits of such inspections.*"

As an offshore holding company, if we acquire a target company that operates its business in China, we may use the proceeds of our offshore fund-raising activities to provide loans or make capital contributions to the PRC subsidiaries of the combined company, in each case subject to applicable regulatory requirements. The PRC subsidiaries may pay dividends to us out of their retained earnings. However, we will be subject to restrictions on dividend payments as current PRC regulations permit PRC subsidiaries to pay dividends to their parent only out of their accumulated profits, if any, determined in accordance with Chinese accounting standards and regulations. In addition, companies in China are mostly required to set aside at least 10% of its after-tax profits each year, if any, to fund a statutory reserve until such reserve reaches 50% of its registered capital. Entities in China may also be required to further set aside a portion of their after-tax profits to fund the employee welfare fund, although the amount to be set aside, if any, is determined at the discretion of its board of directors. Although the statutory reserves can be used, among other ways, to increase the registered capital and eliminate future losses in excess of retained earnings of the respective companies, the reserve funds are not distributable as cash dividends except in the event of liquidation. As a result, the combined company's PRC subsidiaries may not have sufficient distributable profits to pay dividends to the combined company. Furthermore, if certain procedural requirements are satisfied, the payment in foreign currencies on current account items, including profit distributions and trade and service related foreign exchange transactions, can be made without prior approval from the State Administration of Foreign Exchange (the "SAFE") or its local branches. However, where Renminbi is to be converted into foreign currency and remitted out of China to pay capital expenses, such as the repayment of loans denominated in foreign currencies, approval from or registration with competent government authorities or its authorized banks is required. These restrictions will restrict our ability to distribute earnings from our businesses, including subsidiaries, to the parent company and U.S. investors as well as the ability to settle amounts owed under contractual agreements. Nonetheless, the funds held in our trust account are not held in China, they are held in U.S. dollars in the United States with and therefore shareholder redemption rights would not be impacted.

We are a blank check company with no subsidiaries and no operations of our own except organizational activities, the preparation of this offering and, following the closing of this offering, searching for a suitable target to consummate an initial business combination. As of the date of this prospectus, we have not made any transfers, dividends or distributions to any person or entity. We do not intend to distribute earnings or settle amounts owed until after the closing of the business combination. We may retain all of our available funds and any future earnings following a business combination to fund the development and growth of our business. As a result, we may not pay any cash dividends in the foreseeable future.

Of the proceeds we receive from this offering and the sale of the private units described in this prospectus, $60.0 million or $69.0 million if the underwriter's option to purchase additional units is exercised in full ($10.00 per unit in either case), will be deposited into a U.S.-based trust account, with acting as trustee and held as cash or invested only in (i) U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations or (ii) an interest bearing bank demand deposit account or other accounts at a bank. Except with respect to interest earned on the funds held in the trust account that may be released to us to pay our taxes, if any, the proceeds from this offering and the sale of the private units will not be released from the trust account until the earliest of (i) the completion of our initial business combination, (ii) the redemption of our public shares if we are unable to complete our initial business combination within the completion window, subject to applicable law, or (iii) the redemption of our public shares properly submitted in connection with a shareholder vote to amend our post-offering memorandum and articles of association to (A) modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we have not consummated an initial business combination within the completion window or (B) with respect to any other material provisions relating to shareholders' rights or pre-initial business combination activity. The proceeds deposited in the trust account could become subject to the claims of our creditors, if any, which could have priority over the claims of our public shareholders. The proceeds placed in the trust account and the interest earned thereon shall not be used to pay for possible excise tax or any other fees or taxes that may be levied on the Company on any redemptions or stock buybacks by the company pursuant to any current, pending or future rules or laws, including without limitation any excise tax due under the Inflation Reduction Act of 2022.

We will have until 15 months from the closing of this offering to consummate an initial business combination. However, if we anticipate that we may not be able to consummate our initial business combination within 15 months, we may seek shareholder approval to amend our memorandum and articles of association to extend the date by which we must consummate our initial business combination (as well as to modify the substance or timing of our obligation to redeem 100% of our public shares if we have not consummated an initial business combination within the time periods described herein or with respect to any other material provisions relating to shareholders' rights or pre-initial business combination activity). If we are unable to complete our initial business combination within the completion window, we will redeem 100% of the public shares at a per share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned thereon (net of taxes payable and less up to $100,000 of interest to pay liquidation and dissolution expenses), divided by the number of then issued and outstanding public shares, subject to applicable law and certain conditions as further described herein. We expect the pro rata redemption price to be approximately $10.00 per public share (regardless of whether or not the underwriter exercises its over-allotment option), without taking into account any interest or other income earned on such funds. However, we cannot assure you that we will in fact be able to distribute such amounts as a result of claims of creditors, which may take priority over the claims of our public shareholders.

We are an "emerging growth company" and a "smaller reporting company" under applicable federal securities laws and will be subject to reduced public company reporting requirements. Investing in our securities involves a high degree of risk. See "*Risk Factors*" for more information. Investors will not be entitled to protections normally afforded to investors in Rule 419 blank check offerings.

**Neither the U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

Our units offered in this prospectus include shares of a Cayman Islands blank check company instead of the shares of the operating entities with whom we may combine.

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| | | |
|:---|:---|:---|
|  | **Per Unit** | **Total** |
| Public offering price | $10.00 | $60000000 |
| Underwriting discounts and commissions<sup>(1)</sup> | $0.15 | $900000 |
| Proceeds, before expenses, to us | $9.85 | $59100000 |

---

(1) $0.15 per unit sold in the base offering, or $900,000 (or up to $1,035,000 if the overallotment option is exercised in full) in the aggregate, is payable upon the closing of this offering. In addition to the cash compensation set forth herein, we have also agreed to issue to the underwriter and/or its designee (i) an aggregate of 80,000 Class A ordinary shares ("Representative Shares"), as part of representative compensation, which will be issued upon the closing of this offering and (ii) 210,000 Class A ordinary shares (or up to 241,500 Class A ordinary shares if the underwriter's over-allotment option is exercised in full) at $10.00 per Class A ordinary share, which will be issued upon the closing of this offering (the "A.G.P. Shares"). The table does not include certain fees and expenses payable to the underwriter in connection with this offering. See "*Underwriting*" for a description of compensation and other items of value payable to the underwriter.

Our sponsor and members of our management team will directly or indirectly own our securities following this offering, and accordingly, they may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination. Additionally, each of our officers and directors presently has, and any of them in the future may have additional, fiduciary, contractual or other obligations or duties to one or more other entities pursuant to which such officer or director is or will be required to present a business combination opportunity to such entities. As a result, there may be actual or potential material conflicts of interest between our sponsor, its affiliates on one hand, and purchasers in this offering on the other. See "*Proposed Business — Sourcing of Potential Business Combination Targets*" and "*Management — Conflicts of Interest*" for more information.

The underwriter is offering the units for sale on a firm commitment basis. The underwriter expects to deliver the units to the purchasers on or about , 2025.

***Sole Book-Running Manager***

 ****

**A.G.P.**

The date of this prospectus is , 2025

**TABLE OF CONTENTS**

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| | |
|:---|:---|
| [SUMMARY](#hk_001) | 1 |
| [OVERVIEW](#hk_002) | 2 |
| [THE OFFERING](#hk_003) | 10 |
| [SUMMARY FINANCIAL DATA](#hk_004) | 25 |
| [RISK FACTORS](#hk_005) | 26 |
| [CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS](#hk_006) | 66 |
| [USE OF PROCEEDS](#hk_007) | 68 |
| [DIVIDEND POLICY](#hk_008) | 72 |
| [DILUTION](#hk_009) | 73 |
| [CAPITALIZATION](#hk_010) | 76 |
| [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#hk_011) | 77 |
| [PROPOSED BUSINESS](#hk_012) | 82 |
| [MANAGEMENT](#hk_013) | 101 |
| [PRINCIPAL SHAREHOLDERS](#hk_014) | 108 |
| [CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS](#hk_015) | 110 |
| [DESCRIPTION OF SECURITIES](#hk_016) | 113 |
| [SECURITIES ELIGIBLE FOR FUTURE SALE](#hk_017) | 125 |
| [TAXATION](#hk_018) | 127 |
| [UNDERWRITING](#hk_019) | 136 |
| [LEGAL MATTERS](#hk_020) | 143 |
| [EXPERTS](#hk_021) | 144 |
| [WHERE YOU CAN FIND ADDITIONAL INFORMATION](#hk_022) | 145 |
| [INDEX TO FINANCIAL STATEMENTS](#hk_023) | F-1 |

---

**We are responsible for the information contained in this prospectus. We have not authorized anyone to provide you with different information, and neither we nor the underwriter take any responsibility, and can provide no assurance as to the reliability of, any other information others may give to you. We are not, and the underwriter is not, making an offer to sell securities in any jurisdiction where the offer or sale is not permitted. You should not assume that the information contained in this prospectus is accurate as of any date other than the date on the front of this prospectus. Neither the delivery of the prospectus nor any sale made hereunder shall under any circumstances imply that the information herein is correct as of any date subsequent to the date on the cover of the prospectus.**

i

**PROSPECTUS** **SUMMARY**

This summary only highlights the more detailed information appearing elsewhere in this prospectus. You should read this entire prospectus carefully, including the information under "Risk Factors" and our financial statements and the related notes included elsewhere in this prospectus, before investing.

Unless otherwise stated in this prospectus or the context otherwise requires:

● "A.G.P. Shares" refers to the 210,000 Class A ordinary shares (or up to 241,500 Class A ordinary shares if the underwriter's over-allotment option is exercised in full) at $10.00 per Class A ordinary share, which will be issued to A.G.P. upon the closing of this offering;

● "amended and restated memorandum and articles of association" refers to the amended and restated memorandum and articles of association of the company, as currently in effect;

● "BVI" refers to British Virgin Islands.

● "capital re-designation" refers to the re-designation of the authorized share capital of the company effected on August 8, 2025 by: (i) its decrease from $50,000, divided into 500,000,000 ordinary shares with a nominal or par value of US$0.0001 each, to $6,660.00 divided into 66,600,000 ordinary shares of a par value of US$0.0001 each, and, immediately thereafter, (ii) its re-designation from $6,660 divided into 66,600,000 ordinary shares of a par value $0.0001 each into $6,660 divided into 60,000,000 Class A ordinary shares of a par value $0.0001 each, 6,000,000 Class B ordinary shares of a par value $0.0001 each and 600,000 preference shares of a par value $0.0001 each;

● "Chengye Fund" refers to Beijing Chengye Fund Management Co., Ltd., an investment management and financial consulting service company;

● "CAC" refers to Cyberspace Administration of China;

● "China" or "the PRC," in each case, refers to the People's Republic of China, including, Hong Kong, Macau and Taiwan. The term "Chinese" has a correlative meaning for the purpose of this prospectus. The only instances in which Hong Kong, Macau and Taiwan are not included in the definition of "China" or "PRC" is when we reference specific laws and regulations that have been adopted by the People's Republic of China, other legal and tax matters related to the People's Republic of China;

● "Class A ordinary shares" refers to our Class A ordinary shares of par value $0.0001 each;

● "Class B ordinary shares" refers to our Class B ordinary shares of par value $0.0001 each;

● "company," "we," "us" "our" or "our company" refers to Albert Origin Acquisition Corp., a Cayman Islands exempted company;

● "Companies Act" refers to the Companies Act (As Revised) of the Cayman Islands as the same may be amended from time to time;

● "completion window" refers to (i) the period ending on the date that is 15 months from the closing of this offering, or such earlier liquidation date as our board of directors may approve, in which we must complete an initial business combination, or (ii) such other time period, such as the extension period, in which we must complete an initial business combination pursuant to our post-offering memorandum and articles of association, as approved by a special resolution of our shareholders;

● "CSRC" refers to China Securities Regulatory Commission;

● "equity-linked securities" refer to any debt or equity securities that are convertible, exercisable or exchangeable for our Class A ordinary share issued in a financing transaction in connection with our initial business combination, including but not limited to a private placement of equity or debt;

● "extension period" refers to time extensions for us to consummate an initial business combination made available to us pursuant to the terms of our post-offering memorandum and articles of association;

● "founder shares" refer to the 2,957,143 Class B ordinary shares issued to our sponsor;

● "Hong Kong" refers to Hong Kong Special Administrative Region in the PRC;

● "management" or our "management team" refers to our officers and directors (including our director nominees that will become directors in connection with the consummation of this offering);

● "ordinary resolution" are to a resolution of the company passed by a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting of the company, or a resolution approved in writing by all of the holders of the issued shares entitled to vote on such matter;

● "ordinary shares" refer to our Class A ordinary shares and our Class B ordinary shares;

● "post-offering memorandum and articles of association" refers to the second amended and restated memorandum and articles of association that the company will adopt prior to the consummation of this offering;

● "private rights" refer to the rights underlying the private units;

● "private shares" refer to the Class A ordinary shares underlying the private units;

● "private units" refer to the 221,100 private units (up to a maximum of 234,600 private units if the over-allotment option is exercised in full) to the sponsor;

● "public rights" are to the rights sold as part of the units in this offering (whether they are subscribed for in this offering or acquired in the open market);

● "public shares" refer to our Class A ordinary shares sold as part of the units in this offering;

● "public shareholders" refer to the holders of our public shares, including our sponsor and management team to the extent our sponsor and/or members of our management team purchase public shares, provided that our sponsor's and each member of our management team's status as a "public shareholder" will only exist with respect to such public shares;

● "Representative Shares" refers to the 80,000 Class A ordinary shares to be issued A.G.P. and/or its designee as part of representative compensation upon the closing of this offering;

● "rights" refer to our rights, which include the public rights as well as the private rights;

● "SPAC" refers to special purpose acquisition companies;

● "special resolution" are to a resolution of the company passed by a majority of at least two-thirds (2/3) (or such higher approval threshold as specified in the company's post-offering memorandum and articles of association) of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting of the company of which notice specifying the intention to propose the resolution as a special resolution has been duly given, or a resolution approved in writing by all of the holders of the issued shares entitled to vote on such matter;

● "sponsor" refers to Issacyan Co., Ltd, a BVI business company with limited liability; and

● "units" refer to our units, which include the public units as well as the private units.

Any conversion of the Class B ordinary shares described in this prospectus will take effect as a redemption of Class B ordinary shares and an issuance of Class A ordinary shares as a matter of Cayman Islands law.

Any forfeiture of shares described in this prospectus will take effect as a surrender of shares for no consideration of such shares as a matter of Cayman Islands law. Any share dividends described in this prospectus will take effect as share capitalizations as a matter of Cayman Islands law. No fractional rights will be issued upon separation of the units and only whole rights will trade. Accordingly, unless you purchase at least seven units, you will not be able to receive or trade a whole right.

Unless indicated otherwise, the information in this prospectus assumes that the underwriter will not exercise its over-allotment option.

**Our Company**

We are a newly organized blank check company incorporated on June 25, 2025, as a Cayman Islands exempted company with limited liability formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.

Our efforts to identify a prospective target business will not be limited to a particular industry, while we intend to focus on identifying a prospective target business in North America, Europe, Asia or Oceania. We do not have any specific business combination under consideration, and we have not (nor have anyone on our behalf), directly or indirectly, contacted any prospective target business or had any substantive discussions, formal or otherwise, with respect to such a transaction with our company.

We intend to capitalize on the ability of our management team to identify, acquire and operate a business or businesses that can benefit from our management team's established relationships and operating experience. We believe our management team is well positioned to identify attractive risk-adjusted returns in the marketplace. Their professional contacts and transaction sources will enable us to pursue a broad range of opportunities, which we believe will make us well suited to identify, source, negotiate and execute an initial business combination with the ultimate goal of pursuing attractive risk-adjusted returns for our shareholders.

**Our Management Team**

Our executive team is comprised of the key members of the management team of Chengye Fund and is supported by directors and other advisors who blend traditional principal investment and M&A expertise, management and operational expertise, and deep experience in financial, strategic and operational enhancement.

With key members of our team having had significant senior executive roles, we believe we have an ability to identify the characteristics of successful business leaders, and effective in engaging with these management teams.

 ****

***Mr Bo Yan, Ph.D.*** is our chairman of the board of directors and chief executive officer. Dr. Yan has served as our director since our inception. Dr. Yan has approximately 20 years of professional experience in the investment banking and fund management industries. He specializes in formulating investment strategies, managing investor relationships and driving the growth of companies covering a wide range of industries such as technology, consumer goods, manufacturing, clean energy and fintech. From July 2017 to present, Dr. Yan serves as the chairman of the board of directors at Beijing Chengye Fund Management Co., Ltd., an investment management and financial consulting service company. From December 2015 to July 2017, Dr. Yan served as a department general manager in the Beijing branch of Ping An Bank Co., Ltd. From February 2008 to November 2015, Dr. Yan worked at China CITIC Bank Corporation Limited, with his last position there being a department deputy general manager. Earlier in his career, from September 2005 to June 2006, Dr. Yan was in charge of the corporate management affairs at Norstar Automotive Industries Inc. From September 2003 to August 2005, Dr. Yan served as a product manager in Epson Technology (Shenzhen) Ltd. Dr. Yan received his bachelor's degree in engineering from Xi'an Jiaotong University in 2003, his master's degree in finance from Durham University in 2008, and his Ph. D in finance from Central University of Finance and Economics in 2013.

***Mr. Shen Ma*** is our chief financial officer and director nominee. Mr. Ma has approximately 12 years of experience in accounting and investment. From June 2017 to present, he is a partner at Beijing Chengye Fund Management Co., Ltd., administering the financial operations and managing financial process oversight and risk control. From July 2013 to February 2016, he served as a product manager at China CITIC Bank Corporation Limited. From February 2016 to June 2017, Mr. Ma was a division manager in the Beijing branch of Ping An Bank Co., Ltd. Mr. Ma received his bachelor's degree in financial management in 2010 and his master's degree in accounting in 2013, from Central University of Finance and Economics.

***Mr. Angel Colon*** is our independent director. Mr. Colon also serves as the independent director of various publicly-listed companies, including Sentage Holdings Inc. (Nasdaq: SNTG) since July 2021, Horizon Space Acquisition I Corp. (Nasdaq: HSPOU) since December 2022 and Netclass Technology Inc. (Nasdaq: NTCL) since December 2024. Mr. Colon also served as the managing director at Entoro Capital, LLC and Entoro Securities, LLC for approximately six years until August 2025, overseeing the firms' financial management, client relations, regulatory compliance and risk assessment. Mr. Colon has served as a managing member of NY Capital Management Group, LLC since January 2017 and Turing Funds, LLC since July 2017, providing services to high net worth individuals, businesses and institutions to produce solutions that facilitate the advancement and management of capital along with the mitigation of risk to achieve dependable annual returns. Mr. Colon received a bachelor of science in international business from St. John Fisher College in 1996. He currently holds FINRA Series 7, Series 63 and Series 65 licenses and is a licensed broker with FINRA.

***Mr. Xiangyi Chen, Ph.D.*** is our independent director nominee and will serve as our independent director upon the effectiveness of our registration statement on Form S-1 of which this prospectus forms a part. Dr. Chen is the founder and manager of Beijing Gaoliang Fund Management Co., Ltd. From March 2015 to July 2022, Dr. Chen was the chief supervisor at Tian'an Life Insurance Co., Ltd., where he was in charge of the overall risk management. From October 2005 to February 2015, he was the deputy general manager overseeing the Securities Daily of the PRC-based Economic Daily Newspaper Group. Since May 2021, Dr. Chen has been serving as an independent director at Shandong Meichen Science & Technology Co., Ltd. (SHE: 300237). Dr. Chen obtains his M.B.A. from Tsinghua University PBC School of Finance in July 2016 and his Ph.D. from Chinese Academy of Social Sciences in economics from in June 2020.

***Mr. Yan Leng*** is our independent director nominee and will serve as our independent director upon the effectiveness of our registration statement on Form S-1 of which this prospectus forms a part. Mr. Leng has nearly 20 years of experience across investment institutions and private equity funds. From September 2024 to present, Mr. Leng served as the co-founder and chief executive officer of Huayi Shengkang Technology Co, Ltd., a company specializing in innovative products and forging strategic partnerships within the health sector. From June 2022 to June 2023, Mr. Leng was the director of the investment center in Greater Bay Area Semiconductor Industry Group Co, Ltd, an investment group based in Guangdong, China. From January 2020 to February 2022, Mr. Leng served as a vice president of the investment division Shanghai and a vice president of risk management department in Sino IC Capital Co., Ltd. Earlier in his career, he was the director of risk management department and director of representative office in South Africa at China-Africa Development Fund from September 2008 to January 2015, and the head of business development at Kaiyu Consulting Co., Ltd. from February 2015 to November 2019. Mr. Leng holds a bachelor's degree in business administration and a master's degree in financial decision analysis from the University of Portsmouth, UK.

**Our Value Propositions and Differentiation**

Our management team brings a unique set of operational skills and transaction experience that we believe will be highly relevant for today's entrepreneur. In addition, we believe our management team's capital markets, M&A and capital raising experience will be invaluable to a potential target as they look to ready themselves for a public debut.

●  ***Established Deal Sourcing Network*** . Our management team has extensive connections and long-standing relationships to company founders and business leaders across various industries. We believe we, through our management team, have contacts and sources from which to generate acquisition opportunities and possibly seek complementary follow-on business arrangements. These contacts and sources include private equity and venture capital sponsors, executives of public and private companies, merger and acquisition advisory firms, investment banks, capital markets desks, lenders and other financial intermediaries. We believe such network and our connections will assist in the successful selection of our initial business combination and subsequent guidance of the company.

●  ***Origination and Investing Experience*** . We believe that our management's track record of identifying and sourcing transactions positions us well to appropriately evaluate potential business combinations and select one that will be well received by the public markets.

●  ***Execution and Structuring Capability.*** Our management team and sponsor believe that the combined expertise and reputation of each of our management team will allow us to source and complete transactions possessing structural attributes that create an attractive investment thesis. These types of transactions are typically complex and require industry knowledge and expertise, rigorous due diligence, and extensive negotiations and documentation. We believe that by focusing our investment activities on these types of transactions, we are able to generate investment opportunities that have attractive risk/reward profiles based on their valuations and structural characteristics.

With respect to the foregoing discussions, however, past performance by our management team is not a guarantee either (i) of success with respect to any business combination we may consummate or (ii) that we will be able to identify a suitable candidate for our initial business combination. Potential investors should not rely upon the historical record of our management as indicative of future performance. Some of our executive officers and directors are located in or have significant ties to China. As a result, it may be difficult for investors to effect service of process within the United States on our company, executive officers and directors, or enforce judgments obtained in the United States courts against our company, executive officers and directors.

**Business Strategy and Acquisition Criteria**

We will not limit our efforts to identify a prospective business combination target to any particular business industry while we intend to focus on identifying a prospective target business in North America, Europe, Asia or Oceania. Our management team intends to focus on creating shareholder value by leveraging its experience in the management and operation of businesses to improve the efficiency of operations while implementing strategies to scale revenue organically and/or through acquisitions. Consistent with our strategy, we have identified the following general criteria and guidelines that we believe are essential in evaluating prospective target businesses:

● the potential to become an industry leader with a defensible market position that can benefit from our leadership and guidance;

● a strong existing or potential customer base in large addressable market;

● the opportunity to grow at a critical strategic inflection point, such as requiring additional management expertise or access to capital to launch a new phase of growth or corporate/business model evolution;

● an unrecognized value or other characteristics that we can optimize over the long-run to produce outsized investor returns;

● a recurring revenue model with the ability to generate high free cash flow;

● a need for capital to achieve the company's growth strategy, which we believe have been misevaluated by the marketplace based on our analysis and due diligence review;

● the ability to offer an attractive risk-adjusted return for our shareholders, having realized large investment successes with minimal failures of meaningful size;

● a fundamentally sound business whose products and/or services are necessary to the continuing function of a core economic industry or service; and

● the ability to benefit from being publicly traded and utilize access to broader capital markets.

While we intend to use these criteria and guidelines in evaluating prospective businesses, we may deviate from these criteria and guidelines should we consider it appropriate to do so. These criteria are not intended to be exhaustive. Any evaluation relating to the merits of a particular initial business combination may be based, to the extent relevant, on these general guidelines as well as other considerations, factors and criteria that our management may deem relevant.

**Sponsor Information**

Our sponsor, Issacyan Co., Ltd., is a BVI business company, which was formed on February 8, 2024 to invest in our company. Although our sponsor is permitted to undertake any activities as permitted under the laws of the British Virgin Islands, our sponsor's business is focused on investing in our company. Dr. Bo Yan is the sole member and sole director of our sponsor and holds voting and investment discretion with respect to the Class B ordinary shares held of record by the sponsor.

The following table sets forth the payments to be received by our sponsor and its affiliates from us prior to or in connection with the completion of our initial business combination and the securities issued and to be issued by us to our sponsor or its affiliates:

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| | | |
|:---|:---|:---|
| **Entity/Individual** | **Amount of Compensation to be Received or Securities Issued or to be Issued** | **Consideration Paid or to be Paid** |
| Issacyan Co., Ltd. | 2,957,143<sup>(1)</sup> Class B ordinary shares | $25000 |
|  | 221,100 private units (up to 234,600 private units if the over-allotment option is exercised in full) | $2,211,000 (up to $2,346,000 if the over-allotment option is exercised in full) |
|  | Up to $500,000 | Repayment of loans made to us by our sponsor to cover offering-related and organizational expenses. |
|  | $10,000 per month<br>| Office space, administrative and support services |
|  | Up to $1,500,000 in working capital loans may be convertible into private units at a price of $10.00 per unit | Working capital loans to finance transaction costs in connection with an intended initial business combination. |
|  | Reimbursement for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination | Services in connection with identifying, investigating and completing an initial business combination. |
| Holders of Class B ordinary shares | Anti-dilution protection upon conversion into Class A ordinary shares at a greater than one-to-one ratio | Issuance of the Class A ordinary shares issuable in connection with the conversion of the founder shares on a greater than one-to-one basis upon conversion |

---

(1) Including up to 385,714 shares that are subject to forfeiture depending on the extent to which the underwriter's over-allotment option is exercised.

The founder shares (up to 385,714 of which are subject to forfeiture to the extent the over-allotment option is not exercised) will automatically convert into Class A ordinary shares in connection with the consummation of our initial business combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares, or any other equity-linked securities, are issued or deemed issued in excess of the amounts sold in this offering (including pursuant to the underwriter's over-allotment option) and related to or in connection with the closing of the initial business combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 30% of the sum of (i) the total number of Class A ordinary shares issued and outstanding upon completion of this offering (including Class A shares issued pursuant to the underwriter's over-allotment option and excluding private shares, Representative Shares and A.G.P. Shares), plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities (as defined herein) or rights issued or deemed issued, by the company in connection with or in relation to the consummation of the initial business combination, excluding any shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, or to be issued, to any seller in the initial business combination, minus (iii) any Class A ordinary shares redeemed by public shareholders in connection with an initial business combination and any Class A ordinary shares redeemed by public shareholders in connection with any amendment to our post-offering memorandum and articles of association made prior to the consummation of the initial business combination (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within the completion window or (B) with respect to any other material provisions relating to the rights of holders of Class A ordinary shares. This may significantly dilute the equity interest of investors in this offering, which dilution would increase if the anti-dilution provisions in the Class B ordinary shares resulted in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion of the Class B ordinary shares.

**Initial Business Combination**

The rules of the Nasdaq require that our initial business combination must be with one or more operating businesses or assets with a fair market value equal to at least 80% of the net assets held in the trust account (excluding any deferred underwriting discounts and commissions and taxes payable on the income earned on the trust account). We refer to this as the "80% of net assets test." If our board of directors is not able to independently determine the fair market value of the target business or businesses, we will obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction of such criteria. We do not currently intend to purchase multiple businesses in unrelated industries in conjunction with our initial business combination, although there is no assurance that will be the case.

If our board of directors cannot independently determine the fair market value of the target business or businesses, we will obtain an opinion from an independent investment banking firm, another independent firm that commonly renders valuation opinions for the type of company we are seeking to acquire or from an independent accounting firm that the price we are paying for a target is fair to our company from a financial point of view. If no opinion is obtained, our shareholders will be relying on the business judgment of our board of directors, which will have significant discretion in choosing the standard used to establish the fair market value of the target or targets, and different methods of valuation may vary greatly in outcome from one another. Such standards used will be disclosed in our tender offer documents or proxy solicitation materials, as applicable, related to our initial business combination.

We will have until 15 months from the closing of this offering to consummate an initial business combination. However, if we anticipate that we may not be able to consummate our initial business combination within 15 months, we may seek shareholder approval to amend our post-offering memorandum and articles of association to extend the date by which we must consummate our initial business combination (as well as to modify the substance or timing of our obligation to redeem 100% of our public shares if we have not consummated an initial business combination within the time periods described herein or with respect to any other material provisions relating to shareholders' rights or pre-initial business combination activity). Such amendment to our post-offering memorandum and articles of association may include limitations on the duration of the extension, the number of possible extensions, requirements for additional payments to the trust in connection with an extension, and other potential terms for consideration by our shareholders. If we determine not to or are unable to extend the time period to consummate our initial business combination or fail to obtain shareholder approval to extend the completion window, our sponsor's investment in our founder shares and our private units will be worthless.

If we are unable to complete our initial business combination within the completion window, we will redeem 100% of the public shares at a per share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned thereon (net of taxes payable and less up to $100,000 of interest to pay liquidation and dissolution expenses), divided by the number of then issued and outstanding public shares, subject to applicable law and certain conditions as further described herein. We expect the pro rata redemption price to be approximately $10.00 per public share (regardless of whether or not the underwriter exercises its over-allotment option), without taking into account any interest or other income earned on such funds. However, we cannot assure you that we will in fact be able to distribute such amounts as a result of claims of creditors, which may take priority over the claims of our public shareholders.

We anticipate structuring our initial business combination so that the post-transaction company in which our public shareholders own shares will own or acquire 100% of the equity interests or assets of the target business or businesses. We may, however, structure our initial business combination such that the post-transaction company owns or acquires less than 100% of such interests or assets of the target business in order to meet certain objectives of the target management team or shareholders or for other reasons. However, we will only complete such business combination if the post-transaction company owns or acquires 50% or more of the issued and outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended, or the Investment Company Act. Even if the post-transaction company owns or acquires 50% or more of the voting securities of the target, our shareholders prior to the business combination may collectively own a minority interest in the post-transaction company, depending on valuations ascribed to the target and us in the business combination transaction. For example, we could pursue a transaction in which we issue a substantial number of new shares in exchange for all of the issued and outstanding capital stock, shares and/or other equity interests of a target. In this case, we would acquire a 100% controlling interest in the target. However, as a result of the issuance of a substantial number of new shares, our shareholders immediately prior to our initial business combination could own less than a majority of our issued and outstanding shares subsequent to our initial business combination. If less than 100% of the equity interests or assets of a target business or businesses are owned or acquired by the post-transaction company, the portion of such business or businesses that is owned or acquired is what will be valued for purposes of the 80% of net assets test.

**Potential Additional Financing**

We may obtain additional financing to complete our initial business combination, for example, because the transaction requires more cash than is available from the proceeds held in our trust account or because we become obligated to redeem a significant number of our public shares upon completion of the business combination, in which case we may issue additional securities or incur debt in connection with such business combination. If we raise additional funds through equity and equity-linked securities or the incurrence of indebtedness, our public shareholders may suffer significant dilution and these securities could have rights that rank senior to our public shares. If we raise additional funds through the incurrence of indebtedness, such indebtedness would have rights that are senior to our equity securities and could contain covenants that restrict our operations. Further, as described above, due to the anti-dilution rights of our founder shares, our public shareholders may incur material dilution. In addition, we may target businesses with enterprise values that are greater than we could acquire with the net proceeds of this offering and the sale of the private units, and, as a result, if the cash portion of the purchase price exceeds the amount available from the trust account, net of amounts needed to satisfy any redemptions by public shareholders, we may be required to seek additional financing to complete such proposed initial business combination. We may also obtain financing prior to the closing of our initial business combination to fund our working capital needs and transaction costs in connection with our search for and completion of our initial business combination. We may raise the funds through the issuance of equity or equity-linked securities or through loans, advances or other indebtedness in connection with our initial business combination, including pursuant to forward purchase agreements or backstop agreements we may enter into following consummation of this offering. If we are unable to complete our initial business combination because we do not have sufficient funds available to us, we will be forced to liquidate the trust account. In addition, following our initial business combination, if cash on hand is insufficient, we may need to obtain additional financing in order to meet our obligations.

**Corporate Information**

We are a Cayman Islands exempted company incorporated on June 25, 2025. Our registered office is at Osiris International Cayman Limited, Suite #4-210, Governors Square, 23 Lime Tree Bay Avenue, PO Box 32311, Grand Cayman KY1-1209, Cayman Islands. Our executive office is located at Room 1018, CYTS Plaza, No.5 Dongzhimen South Avenue, Dongcheng District, Beijing, China 100007, and our telephone number is +86-10 6600 6177. Exempted companies are Cayman Islands companies conducting business mainly outside the Cayman Islands and, as such, are exempted from complying with certain provisions of the Companies Act.

We are an "emerging growth company," as defined in Section 2(a) of the Securities Act of 1933, as amended (the "Securities Act"), as modified by the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"). As such, we are eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies," including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. If some investors find our securities less attractive as a result, there may be a less active trading market for our securities and the prices of our securities may be more volatile.

In addition, Section 107 of the JOBS Act also provides that an "emerging growth company" can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an "emerging growth company" can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We intend to take advantage of the benefits of this extended transition period.

We will remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the completion of this offering, (b) in which we have total annual gross revenue of at least $1.235 billion, or (c) in which we are deemed to be a large accelerated filer, which means the market value of our ordinary shares that are held by non-affiliates exceeds $700 million as of the end of that year's second fiscal quarter, and (2) the date on which we have issued more than $1.0 billion in non-convertible debt during the prior three year period.

Additionally, we are a "smaller reporting company" as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited financial statements. We will remain a smaller reporting company until the last day of the fiscal year in which (1) the market value of our ordinary shares held by non-affiliates exceeds $250 million as of the end of that year's second fiscal quarter, or (2) our annual revenues exceeded $100 million during such completed fiscal year and the market value of our ordinary shares held by non-affiliates exceeds $700 million as of the end of that year's second fiscal quarter. To the extent we take advantage of such reduced disclosure obligations, it may also make comparison of our financial statements with other public companies difficult or impossible.

**Potential Legal and Operational Risks Associated with a Majority of Directors and Officers Based in or Having Significant Ties to China**

Although we currently do not have any PRC subsidiary or China operations, a majority of our executive officers and directors are located in, or have significant ties to, China, which may make us a less attractive partner to potential target companies outside the PRC than a non-PRC related SPAC. Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be adopted quickly with little advance notice. The Chinese government may also intervene with or influence our operations, including our search for a target business or the completion of an initial business combination, at any time through our directors and officers who are based in or have significant ties to China. This could significantly and negatively impact our search for a target business and the value of the securities we are offering for sale. If we decide to consummate our initial business combination with a target business based in and primarily operating in China, the combined company may face various legal and operational risks and uncertainties after the business combination. In order to reduce or limit such risks, we will not consider or undertake an initial business combination with any company which financial statements are audited by an accounting firm that the PCAOB is unable to inspect for two consecutive years. Accordingly, this may limit the pool of acquisition candidates we may acquire in China due in part to PRC laws and regulations against foreign ownership and investment in certain assets and industries, known as restricted industries, including, but not limited to, value added telecommunications services (except for e-commerce, domestic multiparty communications, store-and-forward services and call centers). Further, due to (i) the risks associated with acquiring and operating a business in the PRC and (ii) the fact that a majority of our executive officers and directors are located in or have significant ties to China, it may make a us a less attractive partner to certain potential target businesses, including non-China- or non-Hong Kong-based target companies and may also make it more difficult for us to consummate a business combination with a PRC-based target business. See "*Risk Factors — Risks Relating to Our Management — Due to the significant ties of certain of our executive officers, directors and Sponsor to the PRC, we may be a less attractive partner to non-PRC-based target companies as compared to a non-PRC based SPAC, therefore this may make it more difficult for us to complete an initial business combination with a target company that is non-PRC*" and "*Risk Factors — Risks Relating to Our Search for, and Consummation of or Inability to Consummate, a Business Combination — Since certain of our directors and officers are based in or have significant ties to China, the Chinese government may have potential oversight and discretion over the conduct of our directors' and officers' search for a target company. The Chinese government may intervene or influence our operations at any time through our directors and officers who are based in or have significant ties to China, which could result in a material change in our search for a target business and the value of the securities we are offering. Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be adopted quickly with little advance notice and could have a significant impact upon our ability to operate."*

The PRC government has recently published new policies that significantly affected certain industries such as the education and internet industries, and we cannot rule out the possibility that it will in the future release regulations or policies regarding any industry that could adversely affect our potential business combination with a PRC operating business and the business, financial condition and results of operations of the combined company.

The PRC government also recently initiated a series of regulatory actions and statements to regulate business operations in China with little advance notice, including cracking down on illegal activities in the securities market, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. If we enter into a business combination with a target business operating in China, the combined company may face risks associated with regulatory approvals of the proposed business combination between us and the target, offshore offerings, anti-monopoly regulatory actions, and cybersecurity and data privacy. The PRC government may also intervene with or influence the combined company's operations as the government deems appropriate to further regulatory, political and societal goals. Any such action, once taken by the PRC government, could make it more difficult and costly for us to consummate a business combination with a target business operating in China, result in material changes in our business operation and the combined company's post-combination operations and cause the value of our and the combined company's securities to significantly decline, or in extreme cases, become worthless or completely hinder our and the combined company's ability to offer or continue to offer securities to investors.

If we acquire a company based in China, to the extent that the combined company in the future seeks to fund the business through distribution, dividends or transfer of funds among and between holding company and subsidiaries, any such transfer of funds within and among the subsidiaries will be subject to PRC regulations. Specifically, investment in Chinese companies is governed by the Foreign Investment Law, the dividends and distributions from a PRC subsidiary are subject to regulations and restrictions on dividends and payment to parties outside of China, and any transfer of funds among the PRC subsidiaries are allowed under and subject to regulations on private lending. Additionally, the PRC government may impose controls on the conversion of Renminbi into foreign currencies and the remittance of currencies out of the PRC. In order for the combined company to pay dividends to its shareholders, the combined company will rely on payments made from the PRC subsidiaries of the combined company and the distribution of such payments to the combined company as dividends from the PRC subsidiaries of the combined company. If we are to acquire a China-based operating company, the dividends and distributions from a PRC subsidiary are subject to regulations and restrictions on dividends and payment to parties outside of China and the combined company may experience difficulties in completing the administrative procedures necessary to obtain and remit foreign currency for the payment of dividends from its subsidiaries, if any.

Furthermore, there may be difficulties in effecting service of legal process, enforcing foreign judgments or bringing actions in China against us based on foreign laws. A majority of our current executive officers and directors are located in, or have significant ties to, China. Also, if we decide to consummate our initial business combination with a target business based in and primarily operating in China, it is possible that substantially all or a significant portion of combined company's assets may be located outside of the United States and some of the combined company's officers and directors may reside outside of the United States. As a result, it may be difficult to effect service of process upon these officers and directors who reside outside of the United States. Even with effective service of process, it may also be difficult to enforce in U.S. courts judgments obtained in U.S. courts based on the civil liability provisions of the U.S. federal securities laws against the officers and directors. In addition, there is uncertainty as to whether the courts of the PRC would recognize or enforce judgments of U.S. courts against the officers and directors predicated upon the civil liability provisions of the securities laws of the United States or any state. The recognition and enforcement of foreign judgments are provided for under the PRC Civil Procedures Law. PRC courts may recognize and enforce foreign judgments in accordance with the requirements of the PRC Civil Procedures Law based either on treaties between China and the country where the judgment is made or on principles of reciprocity between jurisdictions. China does not have any treaties or other forms of written arrangement with the United States that provide for the reciprocal recognition and enforcement of foreign judgments. In addition, according to the PRC Civil Procedures Law, the PRC courts will not enforce a foreign judgment by us against the officers or directors or the future combined company if they decide that the judgment violates the basic principles of PRC laws or national sovereignty, security, or the public interest. As a result, it is uncertain whether and on what basis a PRC court would enforce a judgment rendered by a court in the United States. No PRC legal counsel has been retained for purpose of this offering and consequently the company did not rely on the advice of PRC counsel. The above discussion is based on our management's understanding of the current PRC laws, rules, regulations and local market practices and we cannot assure you that our management's understanding is correct. If we begin our business combination process with a China-based target, we expect to retain a PRC legal counsel who will advise us and provide its opinion of counsel relating to the enforceability of civil liabilities and we cannot assure you that the PRC legal counsel will reach the same conclusion as our management's assessment above. Furthermore, there would be added costs and issues with bringing an original action in foreign courts against the combined company or the officers and directors to enforce liabilities based upon the U.S. Federal securities laws, and they still may be fruitless.

Our company is a blank check company incorporated under the laws of the Cayman Islands. We currently do not hold any equity interest in any PRC company or operate any business in China. Therefore, we believe we are not required to obtain permissions or approvals from any PRC government authorities, including the CSRC or the Cyberspace Administration of China, or any other government entity, to issue our securities to foreign investors and to list on a U.S. exchange or operate our business. As of the date of this prospectus, we have not received any inquiry, notice, warning, sanctions or regulatory objection to this offering from the CSRC or any other PRC governmental authorities. However, if applicable laws, regulations, or interpretations change and we are required to obtain any permissions or approvals from the PRC governmental authority in the future, or if we are denied permission and/or approvals, the relevant PRC government agencies could subject us to a stringent approval process from the relevant government entities in connection with this offering, continued listing on a U.S. exchange, the potential business combination, the issuance of shares or the maintenance of our status as a publicly listed company outside China, and the post business combination entity's PRC operations if our business combination target is a PRC target company, which would materially affect the interest of the investors. In addition, any changes in PRC law, regulations, or interpretations may severely affect our operations after this offering. The CSRC, the CAC or other PRC regulatory agencies also may take actions requiring us, or making it advisable for us, to halt this offering before settlement and delivery of our units or delay our potential business combination. Consequently, if you engage in market trading or other activities in anticipation of and prior to settlement and delivery, you do so at the risk that settlement and delivery may not occur. In addition, if in the future the CSRC, the CAC or other regulatory PRC agencies promulgate new rules requiring that we obtain their approvals for this offering or our business combination, we may be unable to obtain a waiver of such approval requirements, if and when procedures are established to obtain such a waiver. Any uncertainties and/or negative publicity regarding such an approval requirement could have a material adverse effect on the trading price of our securities. See "*Risk Factors -- Risks Relating to Our Search for, and Consummation of or Inability to Consummate, a Business Combination -- Since certain of our directors and officers are based in or have significant ties to China, the Chinese government may have potential oversight and discretion over the conduct of our directors' and officers' search for a target company. The Chinese government may intervene or influence our operations at any time through our directors and officers who are based in or have significant ties to China, which could result in a material change in our search for a target business and the value of the securities we are offering. Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be adopted quickly with little advance notice and could have a significant impact upon our ability to operate.*"

 **PRC Limitation on Overseas Listing and Share Issuances (Post Business Combination)**

As we do not have any operations in China, given that our company is a blank check company newly incorporated in the Cayman Islands rather than in China and currently our company does not own or control any equity interest in any PRC company or operate any business in China, we believe that neither our company nor our directors and executive officers fall under or are governed by permissions requirements from the CSRC, and we are not required to obtain approvals from any PRC government authorities, including the CSRC or the CAC, or any other government entity, to issue our securities to foreign investors.

Moreover, we have been closely monitoring regulatory developments in China regarding any necessary approvals from the CSRC or other PRC governmental authorities required for overseas listings, including this offering, and a potential business combination with a target business based in and primarily operating in China. As of the date of this prospectus, we have not received any inquiry, notice, warning, sanctions or regulatory objection to this offering from the CSRC or any other governmental authorities. However, there remains significant uncertainty as to the enactment, interpretation and implementation of regulatory requirements related to overseas securities offerings and other capital markets activities. The relevant PRC government agencies could reach a different conclusion and if it is determined in the future that the approval of the CSRC, CAC or any other regulatory authority is required for this offering, we or our post-business combination company may face sanctions by the CSRC, the CAC or other PRC regulatory agencies. This could occur in the event (i) we do not receive or maintain any required governmental permissions or approvals, (ii) if we inadvertently conclude that such permissions or approvals are not required, or (iii) if applicable laws, regulations or interpretations change and we are required to obtain such permissions or approvals in the future. These regulatory agencies may impose fines and penalties on our operations in China, limit our ability, the post-combined PRC subsidiary's ability to pay dividends outside of China post business combination, limit our post-combined PRC subsidiary's operations post business combination in China, delay or restrict the repatriation of the proceeds from this offering into China or take other actions that could have a material adverse effect on our business, financial condition, results of operations and prospects, including but not limited, to revoking business and other licenses, requiring restructure of ownership or operations and requiring discontinuation of any portion of all of the acquired business, and any of the foregoing can adversely affect the trading price of our securities pre- and post-business combination. The CSRC, the CAC or other PRC regulatory agencies also may take actions requiring us, or making it advisable for us, to halt this offering before settlement and delivery of our units or delay our potential business combination. Consequently, if you engage in market trading or other activities in anticipation of and prior to settlement and delivery, you do so at the risk that settlement and delivery may not occur. In addition, if in the future the CSRC, the CAC or other regulatory PRC agencies promulgate new rules requiring that we obtain their approvals for this offering or our business combination, we may be unable to obtain a waiver of such approval requirements, if and when procedures are established to obtain such a waiver. Any uncertainties and/or negative publicity regarding such an approval requirement could have a material adverse effect on the trading price of our securities and could cause the value of our securities to significantly decline or become worthless.

Due to (i) the risks of doing business in PRC and (ii) our sponsor and certain of our executive officers and directors having significant ties to PRC, we may be a less attractive partner to non-PRC based target companies as compared to a non-PRC based SPAC, therefore this may make it more difficult for us to complete an initial business combination with a target company that is non-PRC based and which may therefore make it more likely for us to consummate a business combination with a target company located in the PRC.

 **Recent PCAOB Developments**

Pursuant to the HFCAA, if the SEC determines that we have filed audit reports issued by a registered public accounting firm that has not been subject to inspections by the PCAOB for two consecutive years, the SEC will prohibit our securities from being traded on a national securities exchange or in the over-the-counter trading market in the United States.

On December 16, 2021, the PCAOB issued a report to notify the SEC of its determination that the PCAOB was unable to inspect or investigate completely registered public accounting firms headquartered in mainland China and Hong Kong. On December 15, 2022, the PCAOB removed mainland China and Hong Kong from the list of jurisdictions where it is unable to inspect or investigate completely registered public accounting firms. Our auditor, Adeptus Partners, LLC is an independent registered public accounting firm with the PCAOB and has been inspected by the PCAOB on a regular basis. The PCAOB currently has access to inspect the working papers of our auditor. Our auditor is headquartered in Ocean, New Jersey and was not identified in the determination report as a firm subject to the PCAOB's determination. As a special purpose acquisition company, our current business activities only involve preparation of this offering and will involve searching for targets and consummation of a business combination following this offering.

In the event that we complete a business combination with a company with substantial operations in PRC and if the PCAOB is not able to fully conduct inspections of or fully investigate our auditor's work papers in mainland China or Hong Kong or is not able to inspect or investigate the work papers of the auditor of a company we may target for an initial business combination, it could cause us to fail to be in compliance with U.S. securities laws and regulations, we could cease to be listed on a U.S. securities exchange, and U.S. trading of our shares could be prohibited under the HFCAA. Any of these actions, or uncertainties in the market about the possibility of such actions, could adversely affect our prospects to successfully complete a business combination with a PRC-based company, our access to the U.S. capital markets and the price of our shares.

Future developments in respect of increase U.S. regulatory access to audit information are uncertain, as the legislative developments are subject to the legislative process and the regulatory developments are subject to the rule-making process and other administrative procedures. Other developments in U.S. laws and regulatory environment, including but not limited to executive orders such as Executive Order (E.O.) 13959, "Addressing the Threat from Securities Investments That Finance Communist Chinese Military Companies," may further restrict our ability to complete a business combination with certain China-based businesses.

**Recent Developments**

Effective from August 8, 2025, through written resolutions of the sole director of the company, the company adopted a financial year end of July 31.

Effective from August 8, 2025, through written resolutions of the sole member of the company, the company's share capital was (i) decreased from $50,000, divided into 500,000,000 Ordinary Shares with a nominal or par value of US$0.0001 each, to $6,660.00 divided into 66,600,000 ordinary shares of a par value of US$0.0001 each, and, immediately thereafter, (ii) re-designated from $6,660 divided into 66,600,000 ordinary shares of a par value $0.0001 each into $6,660 divided into 60,000,000 Class A ordinary shares of a par value $0.0001 each, 6,000,000 Class B ordinary shares of a par value $0.0001 each and 600,000 preference shares of a par value $0.0001 each.

**THE OFFERING**

In deciding whether to invest in our securities, you should take into account not only the backgrounds of the members of our management team, but also the special risks we face as a blank check company and the fact that this offering is not being conducted in compliance with Rule 419 promulgated under the Securities Act. You will not be entitled to protections normally afforded to investors in Rule 419 blank check offerings. You should carefully consider these, and the other risks set forth in the section below entitled "Risk Factors" of this prospectus.

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|:---|:---|
| Securities offered | 6,000,000 units (or 6,900,000 units if the underwriter's over-allotment option is exercised in full), at $10.00 per unit, each unit consisting of one Class A ordinary share and one right to receive one-seventh (1/7) of one Class A ordinary share upon the consummation of our initial business combination. |
| Proposed Nasdaq symbols | We anticipate the units, the Class A ordinary shares and rights, once they begin separate trading, will be listed on the Nasdaq Capital Market under the symbols "ALOGU," "ALOG" and "ALOGR," respectively.<br>Each of the Class A ordinary shares and rights may trade separately on the 52<sup>nd</sup> day after closing of this offering unless the underwriter determines that an earlier date is acceptable. In no event will the underwriter allow separate trading of the Class A ordinary shares and rights until we file an audited balance sheet reflecting our receipt of the gross proceeds of this offering.<br>Once the Class A ordinary shares and rights commence separate trading, holders will have the option to continue to hold units or separate their units into the component pieces. Holders will need to have their brokers contact our transfer agent in order to separate the units into separately trading Class A ordinary shares and rights. No fractional rights will be issued upon separation of the units and only whole rights will trade. Accordingly, unless you purchase seven units, you will not receive an ordinary share underlying the rights upon the consummation of the business combination.<br>We will file a Current Report on Form 8-K with the SEC, including an audited balance sheet, promptly upon the consummation of this offering. The audited balance sheet will reflect our receipt of the proceeds from this offering. If the over-allotment option is exercised, we will file an amendment to the Form 8-K or a new Form 8-K to provide updated financial information to reflect the exercise of the over-allotment option. We will also include in the Form 8-K, or amendment thereto, or in a subsequent Form 8-K, information indicating if the underwriter has allowed separate trading of the Class A ordinary shares and rights prior to the 52<sup>nd</sup> day after the closing of this offering. |
| **Units:** |  |
| Number outstanding before this offering | 0 |
| Number outstanding after this offering | 6,000,000 (assuming the underwriter does not exercise the over-allotment option) |
| **Ordinary Shares:** |  |
| Number outstanding before this offering | 2,957,143 Class B ordinary shares (including up to 385,714 founder shares subject to forfeiture) |
| Number outstanding after this offering<sup>(1)</sup> | 9,082,529 (assuming the underwriter does not exercise the over-allotment option), comprised of (i) 6,000,000 Class A ordinary shares included in the units to be sold in this offering, (ii) 221,100 private shares underlying the private units to be sold to our sponsor in a private placement simultaneously with this offering, (iii) 2,571,429 Class B ordinary shares issued to founders (assuming the underwriter does not exercise its over-allotment option and the forfeiture of 385,714 Class B ordinary shares by the Sponsor, and excluding shares issuable upon the conversion of public rights and private rights), and (iv) Representative Shares and A.G.P. Shares at the closing of this offering, with respect to which A.G.P. has agreed (and its permitted transferees will agree) (a) to waive its redemption rights in connection with the completion of the Company's initial Business Combination and (b) to waive its rights to liquidating distributions from the Trust Account if the Company fails to complete its initial Business Combination within the Completion Window. Additionally, A.G.P. [has agreed] to vote such representative shares and A.G.P. Shares in favor of our initial business combination, regardless of how our public shareholders vote. <br>Founder shares are currently classified as Class B ordinary shares, which shares will automatically convert into Class A ordinary shares in connection with the consummation of our initial business combination or earlier at the option of the holder on a one-for-one basis. |

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| **Rights** |  |
| Number outstanding before the offering and private placement | 0 |
| Number outstanding after the offering and private placement | 6,221,100 comprised of 6,000,000 public rights included in the public units to be sold in this offering and 221,100 private rights to be sold to our sponsor in a private placement simultaneously with this offering (assuming the underwriter does not exercise the over-allotment option). |
| Terms of the Rights | Except in cases where we are not the surviving company in a business combination, each holder of a public right will automatically receive one-seventh (1/7) of one Class A ordinary shares upon consummation of our initial business combination. In the event we will not be the surviving company upon completion of our initial business combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-seventh (1/7) of a share underlying each right upon consummation of the business combination. We will not issue fractional shares in connection with an exchange of rights. If we are unable to complete an initial business combination within the required time period and we redeem the public shares for the funds held in the trust account, holders of rights will not receive any of such funds for their rights and the rights will expire worthless. |

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| Founder shares | On July 28, 2025, we entered into a share subscription agreement with our sponsor for the subscription of 2,957,143 Class B ordinary shares, par value $0.0001 each, for a purchase price of $25,000. Such Class B ordinary shares were issued on August 8, 2025, following the capital re-designation. The per share price of the founder shares was determined by dividing the amount contributed to the company by the number of founder shares issued. If we increase or decrease the size of this offering, we will effect a share capitalization, a share surrender or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of this offering in such amount as to maintain the number of founder shares, on an as-converted basis, at 30% of our issued and outstanding Class A ordinary shares (excluding private shares, Representative Shares and A.G.P. Shares) upon the consummation of this offering. Up to 385,714 founder shares are subject to forfeiture, depending on the extent to which the underwriter's over-allotment option is exercised.<br>The founder shares are identical to the Class A ordinary shares included in the units being sold in this offering, except that: | On July 28, 2025, we entered into a share subscription agreement with our sponsor for the subscription of 2,957,143 Class B ordinary shares, par value $0.0001 each, for a purchase price of $25,000. Such Class B ordinary shares were issued on August 8, 2025, following the capital re-designation. The per share price of the founder shares was determined by dividing the amount contributed to the company by the number of founder shares issued. If we increase or decrease the size of this offering, we will effect a share capitalization, a share surrender or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of this offering in such amount as to maintain the number of founder shares, on an as-converted basis, at 30% of our issued and outstanding Class A ordinary shares (excluding private shares, Representative Shares and A.G.P. Shares) upon the consummation of this offering. Up to 385,714 founder shares are subject to forfeiture, depending on the extent to which the underwriter's over-allotment option is exercised.<br>The founder shares are identical to the Class A ordinary shares included in the units being sold in this offering, except that: |
|  | ● | prior to our initial business combination, only holders of our Class B ordinary shares will have the right to vote on the appointment or removal of directors. Further, prior to the closing of our initial business combination, only holders of our Class B ordinary shares will be entitled to vote on continuing our company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend our constitutional documents or to adopt new constitutional documents as a result of our approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands);  |
|  | ● | the founder shares are subject to certain transfer restrictions, as described in more detail below; |

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&nbsp;&nbsp;&nbsp;&nbsp;

● our
 sponsor, officers and directors [have entered] into a letter agreement with us, pursuant to which they have agreed to (i) waive their
 redemption rights with respect to their founder shares, private shares and any public shares in connection with the completion
 of our initial business combination, (ii) waive their redemption rights with respect to their founder shares, private shares
 and public shares in connection with a shareholder vote to approve an amendment to our post-offering memorandum and articles of association
 (A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have
 their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete
 our initial business combination within the completion window, or (B) with respect to any other provision relating to the rights
 of holders of our Class A ordinary shares and (iii) waive their rights to liquidating distributions from the trust account with respect
 to any founder shares and private shares they hold if we fail to consummate an initial business combination within the completion
 window (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they
 hold if we fail to complete our initial business combination within the prescribed time frame). If we seek shareholders' approval,
 we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law
 and our post-offering memorandum and articles of association. However, if our initial business combination is structured as a statutory
 merger or consolidation with another company under Cayman Islands law, the approval of our initial business combination will require
 a special resolution under Cayman Islands law and our post-offering memorandum and articles of association. In such case, our initial
 shareholder [has agreed] to vote its founder shares and public shares in favor of our initial business combination. As a result,
 in addition to the founder shares, Representative Shares and A.G.P. Shares, we would need 1,679,836 Class A ordinary
 shares, or 28.0% for an ordinary resolution, or 3,193,591 Class A ordinary shares, or 53.2% for a special resolution,
 (assuming all issued and outstanding shares are voted and the over-allotment option is not exercised), of the 6,000,000 public shares
 sold in this offering to be voted in favor of an initial business combination in order to have our
 initial business combination approved. Assuming that only the holders of one-third of our issued and outstanding ordinary shares,
 representing a quorum under our post-offering memorandum and articles of association, vote their shares at a general meeting of the
 company, we will not need any public shares in addition to our founder shares and private shares to be voted in favor of an initial
 business combination in order to approve an initial business combination; and

● The
 founder shares are entitled to registration rights.

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| Transfer restrictions on founder shares and private units | Our initial shareholder [has agreed] not to transfer, assign or sell any of their founder shares until the earlier to occur of: (i) 180 days after the completion of our initial business combination or (ii) the date on which we complete a liquidation, merger, share exchange or other similar transaction after our initial business combination that results in all of our shareholders having the right to exchange their ordinary shares for cash, securities or other property; except to certain permitted transferees and under certain circumstances as described herein under "*Principal Shareholders — Transfers of Founder Shares and Private Units*." Any permitted transferees will be subject to the same restrictions and other agreements of our initial shareholders with respect to any founder shares. We refer to such transfer restrictions throughout this prospectus as the lock-up. Notwithstanding the foregoing, if (i) the last reported sale price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and other similar transactions) for any 20 trading days within any 30-trading day period commencing at least 90 days after our initial business combination or (ii) if we complete a transaction after our initial business combination which results in all of our shareholders having the right to exchange their shares for cash, securities or other property., the founder shares will be released from the lock-up.<br>In addition, the purchasers of the private units [have also agreed] not to transfer, assign or sell any of the private units, including the underlying securities (except in connection with the same limited exceptions that the founder shares may be transferred as described above), until at least 30 days after the completion of our initial business combination. See "*Principal Shareholders — Transfers of Founder Shares and Private Units*" and "*Description of Securities — Founder Shares*" for more information. <br>|

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| Founder shares conversion and anti-dilution rights | The founder shares are designated as Class B ordinary shares and will automatically convert into Class A ordinary shares at the time of the consummation of our initial business combination or earlier at the option of the holders thereof at a ratio such that the number of Class A ordinary shares issuable upon conversion of all founder shares will equal, in the aggregate, on an as-converted basis, 30% of the sum of (i) the total number of Class A ordinary shares issued and outstanding upon completion of this offering (including Class A shares issued pursuant to the underwriter's over-allotment option and excluding private shares, Representative Shares and A.G.P. Shares), plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities (as defined herein) or rights issued or deemed issued, by the company in connection with or in relation to the consummation of the initial business combination, excluding any shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, or to be issued, to any seller in the initial business combination, minus (iii) any Class A ordinary shares redeemed by public shareholders in connection with an initial business combination and any Class A ordinary shares redeemed by public shareholders in connection with any amendment to our post-offering memorandum and articles of association made prior to the consummation of the initial business combination (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within the completion window or (B) with respect to any other material provisions relating to the rights of holders of Class A ordinary shares. Any conversion of Class B ordinary shares described herein will take effect as a compulsory redemption of Class B ordinary shares and an issuance of Class A ordinary shares as a matter of Cayman Islands law. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than one-to-one. |
| Appointment and removal of<br> directors and continuing the<br> company outside of the Cayman<br> Islands; Voting rights | Prior to our initial business combination, only holders of our Class B ordinary shares will have the right to vote on the appointment or removal of directors. Holders of our Class A ordinary shares will not be entitled to vote on the appointment or removal of directors during such time. Accordingly, prior to our initial business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. Further, prior to the closing of our initial business combination, only holders of our Class B ordinary shares will be entitled to vote on continuing our company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend our constitutional documents or to adopt new constitutional documents as a result of our approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands). <br>These provisions of our memorandum and articles of association may only be amended by a special resolution passed by the affirmative vote of at least 90% (or, where such amendment is proposed in respect of the consummation of our initial business combination, two-thirds) of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the company, or a resolution approved in writing by all of the holders of the issued shares entitled to vote on such matter. With respect to any other matter submitted to a vote of our shareholders, including any vote in connection with our initial business combination, except as required by law, holders of our founder shares and holders of our public shares will vote together as a single class, with each share entitling the holder to one vote. |
| Private units | Our sponsor [has committed] to purchase an aggregate of 221,100 private units (or up to 234,600 private units if the underwriter exercises its over-allotment option in full), at a price of $10.00 per unit in a private placement that will occur simultaneously with the closing of this offering. The private units will be identical to the units sold in this offering, except that so long as they are held by our sponsor or its permitted transferees, (i) the private units may not (including the securities underlying the units), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of our initial business combination and (ii) the private placement shares underlying the private placement units will be entitled to registration rights. A portion of the purchase price of the private units will be added to the proceeds from this offering to be held in the trust account such that at the time of closing $60,000,000 (or $69,000,000 if the underwriter exercises its over-allotment option in full) will be held in the trust account. If we do not complete our initial business combination within the completion window, the proceeds from the sale of the private units held in the trust account will be used to fund the redemption of our public shares (subject to the requirements of applicable law) and the private units will expire worthless. <br>Our sponsor [has agreed] to waive its redemption rights with respect to its private shares (i) in connection with the consummation of a business combination, (ii) in connection with a shareholder vote to amend our post-offering memorandum and articles of association to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 15 months after the closing of this offering (or during any extension period) and (iii) if we fail to consummate a business combination within 15 months (or during any extension period) after the closing of this offering, or if we liquidate prior to the expiration of the 15-month period. However, our sponsor will be entitled to redemption rights with respect to any public shares held by it if we fail to consummate a business combination or liquidate within the 15-month period. |

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| Proceeds to be held in the trust account | Net proceeds of $60,000,000 (or $69,000,000 if the over-allotment option is exercised in full) from this offering and the proceeds we will receive from the sale of the private units, or $10.00 per unit sold to the public in this offering (regardless of whether or not the over-allotment option is exercised) (which amount is less expenses of the offering plus the contributed value of the private units) will be placed in a United States-based trust account maintained by , acting as trustee pursuant to an agreement to be signed on the date of this prospectus. Except as set forth below, the proceeds held in the trust account will not be released until the earlier of the completion of an initial business combination and our redemption of 100% of the outstanding public shares if we have not completed a business combination in the required time period. Therefore, except as set forth below, unless and until an initial business combination is consummated, the proceeds held in the trust account will not be available for our use for any expenses related to this offering or expenses which we may incur related to the investigation and selection of a target business and the negotiation of an agreement to acquire a target business.<br>Notwithstanding the foregoing, there can be released to us from the trust account any interest earned on the funds in the trust account that we need to pay our income or other tax obligations, and, if applicable, up to $100,000 of interest to pay liquidation expenses (which interest shall be net of taxes payable). Aside from these exceptions, expenses incurred by us may be paid prior to a business combination only from the net proceeds of this offering not held in the trust account. Additionally, in order to meet our working capital needs following the consummation of this offering if the funds not held in the trust account are insufficient, our sponsor, officers, directors, initial shareholders or their affiliates may, but are not obligated to, loan us funds, from time to time or at any time, in whatever amount they deem reasonable in their sole discretion. Each loan would be evidenced by a promissory note. The notes would either be paid upon consummation of our initial business combination, without interest, or, at the holder's discretion, up to $1,500,000 of the notes may be converted into units at a price of $10.00 per unit. These units would be identical to the private units. In the event that the initial business combination does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts, but no proceeds from our trust account would be used for such repayment. |
| Anticipated expenses and funding sources | Except as described above with respect to the payment of taxes, unless and until we complete our initial business combination, no proceeds held in the trust account will be available for our use. The proceeds held in the trust account will be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act that invest only in direct U.S. government treasury obligations. Assuming an interest rate of 4.5% per year, we estimate the interest earned on the trust account will be approximately $2,700,000 per year; however, we can provide no assurances regarding this amount. Unless and until we complete our initial business combination, we may pay our expenses only from:<br>|

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● the
 net proceeds of this offering and the sale of the private units not held in the trust account, which will be approximately $700,000;
 and

&nbsp;&nbsp;&nbsp;&nbsp;

● any
 loans or additional investments from our sponsor, its affiliates or certain of our officers and directors, although they are under
 no obligation to advance funds to us in such circumstances, and provided any such loans will not have any claim on the proceeds held
 in the trust account unless such proceeds are released to us upon the completion of our initial business combination. If we complete
 our initial business combination, we expect to repay such loaned amounts out of the proceeds of the trust account released to us.
 In the event that our initial business combination does not close, we may use a portion of the working capital held outside the trust
 account to repay such loaned amounts but no proceeds from our trust account would be used to repay such loaned amounts. Up to $1,500,000
 of such loans may be convertible into private units at a price of $10.00 per unit at the option of the lender. Additionally, we
 may need to obtain additional financing to complete our initial business combination, for example, because the transaction requires
 more cash than is available from the proceeds held in our trust account or because we become obligated to redeem a significant number
 of our public shares upon completion of the business combination, in which case we may issue additional securities or incur debt
 in connection with such business combination. *See "Prospectus Summary - Potential Additional Financing"* for more
 information.

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| Conditions to completing our initial business combination | So long as our securities are then listed on Nasdaq, our initial business combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of the value of the net assets held in the trust account (excluding the deferred underwriting commissions and taxes payable on the interest earned on the trust account) at the time of signing a definitive agreement in connection with our initial business combination. If our board of directors is not able to independently determine the fair market value of the target business or businesses, we will obtain an opinion from an independent investment banking firm that is a member of FINRA or another independent entity that commonly renders valuation opinions with respect to the satisfaction of such criteria. Our shareholders may not be provided with a copy of such opinion nor will they be able to rely on such opinion. If our securities are not then listed on Nasdaq for whatever reason, we would no longer be required to meet the foregoing 80% of net asset test.<br>We will complete our initial business combination only if the post- business combination company in which our public shareholders own shares will own or acquire 50% or more of the outstanding voting securities of the target or is otherwise not required to register as an investment company under the Investment Company Act. Even if the post-business combination company owns or acquires 50% or more of the voting securities of the target, our shareholders prior to our initial business combination may collectively own a minority interest in the post-business combination company, depending on valuations ascribed to the target and us in the business combination transaction.<br>If less than 100% of the equity interests or assets of a target business or businesses are owned or acquired by the post-business combination company, the portion of such business or businesses that is owned or acquired is what will be valued for purposes of the 80% of net assets test, provided that in the event that the business combination involves more than one target business, the 80% fair market value test will be based on the aggregate value of all of the target businesses and we will treat the target businesses together as the initial business combination for purposes of a tender offer or for seeking shareholder approval, as applicable. |

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| Permitted purchases and other transactions with respect to our securities | If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our sponsor, directors, officers, advisors or their affiliates may purchase shares in privately negotiated transactions or in the open market either prior to or following the completion of our initial business combination. See "*Proposed Business — Permitted Purchases and Other Transactions with Respect to Our Securities"* for more information. There is no limit on the number of shares such persons may purchase, subject to compliance with applicable law and Nasdaq rules. Any such price per share may be different than the amount per share a public shareholder would receive if it elected to redeem its shares in connection with our initial business combination.<br>However, such persons have no current commitments, plans or intentions to engage in such transactions and have not formulated any terms or conditions for any such transactions. In the event our sponsor, directors, officers, advisors or their affiliates determine to make any such purchases at the time of a shareholder vote relating to our initial business combination, such purchases could have the effect of influencing the vote necessary to approve such transaction. None of the funds in the trust account will be used to purchase shares in such transactions. If they engage in such transactions, they will not make any such purchases when they are in possession of any material non-public information not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange Act. Subsequent to the consummation of this offering, we will adopt an insider trading policy which will require insiders to: (i) refrain from purchasing shares during certain blackout periods and when they are in possession of any material non-public information and (ii) to clear all trades with our legal counsel prior to execution. We cannot currently determine whether our insiders will make such purchases pursuant to a Rule 10b5-1 plan, as it will be dependent upon several factors, including but not limited to, the timing and size of such purchases. Depending on such circumstances, our insiders may either make such purchases pursuant to a Rule 10b5-1 plan or determine that such a plan is not necessary.<br>We do not currently anticipate that such purchases, if any, would constitute a tender offer subject to the tender offer rules under the Exchange Act or a going-private transaction subject to the going-private rules under the Exchange Act; however, if the purchasers determine at the time of any such purchases that the purchases are subject to such rules, the purchasers will comply with such rules. Our sponsor, directors, officers, advisors or their affiliates will not make any purchases if the purchases would violate Section 9(a)(2) or Rule 10b-5 of the Exchange Act. |
| Redemption rights for public shareholders upon the completion of our initial business combination | We will provide our public shareholders with the opportunity to redeem all or a portion of their Class A ordinary shares upon the completion of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business days prior to the consummation of the initial business combination, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (net of taxes payable), divided by the number of then- outstanding public shares, subject to the limitations described herein.<br>The amount in the trust account is initially anticipated to be $10.00 per public share. There will be no redemption rights upon the completion of our initial business combination with respect to our public rights or private rights. Our sponsor, officers and directors [have entered] into a letter agreement with us, pursuant to which they [have agreed] to waive their redemption rights with respect to their founder shares and any public shares they may acquire during or after this offering in connection with the completion of our initial business combination.  |

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|:---|:---|
| Limitations on redemptions | Our post-offering memorandum and articles of association will provide that in no event will we redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001 (so that we do not then become subject to the SEC's "penny stock" rules). However, a greater net tangible asset or cash requirement may be contained in the agreement relating to our initial business combination. For example, the proposed business combination may require: (i) cash consideration to be paid to the target or its owners, (ii) cash to be transferred to the target for working capital or other general corporate purposes, or (iii) the retention of cash to satisfy other conditions in accordance with the terms of the proposed business combination. Furthermore, although we will not redeem shares in an amount that would cause our net tangible assets to fall below $5,000,001, we do not have a maximum redemption threshold based on the percentage of shares sold in this offering, as many blank check companies do. In the event the aggregate cash consideration we would be required to pay for all Class A ordinary shares that are validly submitted for redemption plus any amount required to satisfy cash conditions pursuant to the terms of the proposed business combination exceed the aggregate amount of cash available to us, we will not complete the business combination or redeem any shares, and all Class A ordinary shares submitted for redemption will be returned to the holders thereof, and we instead may search for an alternate business combination. |
| Manner of conducting redemptions | We will provide our public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination either (i) in connection with a general meeting called to approve the business combination or (ii) by means of a tender offer. The decision as to whether we will seek shareholder approval of a proposed business combination or conduct a tender offer will be made by us, solely in our discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would require us to seek shareholder approval under applicable law or stock exchange listing requirement. Asset acquisitions and share purchases would not typically require shareholder approval, while direct mergers with our company where we do not survive and any transactions where we issue more than 20% of our outstanding Class A ordinary shares or seek to amend our post-offering memorandum and articles of association would typically require shareholder approval. We currently intend to conduct redemptions in connection with a shareholder vote unless shareholder approval is not required by applicable law or stock exchange listing requirement or we choose to conduct redemptions pursuant to the tender offer rules of the SEC for business or other reasons. So long as we obtain and maintain a listing for our securities on Nasdaq, we will be required to comply with Nasdaq's shareholder approval rules. |
|  | The requirement that we provide our public shareholders with the opportunity to redeem their public shares by one of the two methods listed above will be contained in provisions of our post-offering memorandum and articles of association and will apply whether or not we maintain our registration under the Exchange Act or our listing on Nasdaq. Such provisions may be amended if approved by a special resolution. |
|  | If we hold a shareholder vote to approve our initial business combination, we will: |

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● conduct
 the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of the Exchange Act, which regulates the solicitation
 of proxies, and not pursuant to the tender offer rules; and

&nbsp;&nbsp;&nbsp;&nbsp;

● file
 proxy materials with the SEC.

<br>If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law and our post-offering memorandum and articles of association. However, if our initial business combination is structured as a statutory merger or consolidation with another company under Cayman Islands law, the approval of our initial business combination will require a special resolution under Cayman Islands law and our post-offering memorandum and articles of association. In such case, our initial shareholders [have agreed] to vote their shares in favor of our initial business combination. As a result, in addition to the founder shares, Representative Shares and A.G.P. Shares, we would need 1,679,836 Class A ordinary shares, or 28.0% for an ordinary resolution, or 3,193,591 Class A ordinary shares, or 53.2% for a special resolution, (assuming all issued and outstanding shares are voted and the over-allotment option is not exercised), of the 6,000,000 public shares sold in this offering to be voted in favor of an initial business combination in order to have our initial business combination approved. Each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction or vote at all. Assuming that only the holders of one-third of our issued and outstanding ordinary shares, representing a quorum under our post-offering memorandum and articles of association, vote their shares at a general meeting of the company, we will not need any public shares in addition to our founder shares and private shares to be voted in favor of an initial business combination in order to approve an initial business combination. <br>Our post-offering memorandum and articles of association will require that at least five days' notice will be given of any such general meeting.<br>If we conduct redemptions pursuant to the tender offer rules of the SEC, we will, pursuant to our post-offering memorandum and articles of association:<br>

● conduct
 the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers; and

● file
 tender offer documents with the SEC prior to completing our initial business combination, which contain substantially the same financial
 and other information about the initial business combination and the redemption rights as is required under Regulation 14A of the
 Exchange Act, which regulates the solicitation of proxies.

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| |
|:---|
| Upon the public announcement of our initial business combination, if we elect to conduct redemptions pursuant to the tender offer rules, we and our sponsor will terminate any plan established in accordance with Rule 10b5-1 to purchase our Class A ordinary shares in the open market, in order to comply with Rule 14e-5 under the Exchange Act. |
| In the event we conduct redemptions pursuant to the tender offer rules, our offer to redeem will remain open for at least 20 business days, in accordance with Rule 14e-1(a) under the Exchange Act, and we will not be permitted to complete our initial business combination until the expiration of the tender offer period. In addition, the tender offer will be conditioned on public shareholders not tendering more than the number of public shares we are permitted to redeem. If public shareholders tender more shares than we have offered to purchase, we will withdraw the tender offer and not complete such initial business combination. |

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| | |
|:---|:---|
| Limitation on redemption rights of shareholders holding more than 15% of the shares sold in this offering if we hold shareholder vote | Notwithstanding the foregoing redemption rights, if we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, then, pursuant to our post-offering memorandum and articles of association, a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a "group" (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares sold in this offering, without our prior consent. We believe the restriction described above will discourage shareholders from accumulating large blocks of shares, and subsequent attempts by such holders to use their ability to redeem their shares as a means to force us or our management to purchase their shares at a significant premium to the then-current market price or on other undesirable terms. Absent this provision, a public shareholder holding more than an aggregate of 15% of the shares sold in this offering could threaten to exercise its redemption rights against a business combination if such holder's shares are not purchased by us, our sponsor or our management at a premium to the then-current market price or on other undesirable terms. By limiting our shareholders' ability to redeem to no more than 15% of the shares sold in this offering, we believe we will limit the ability of a small group of shareholders to unreasonably attempt to block our ability to complete our initial business combination, particularly in connection with a business combination with a target that requires as a closing condition that we have a minimum net worth or a certain amount of cash. However, we would not be restricting our shareholders' ability to vote all of their shares (including all shares held by those shareholders that hold more than 15% of the shares sold in this offering) for or against our initial business combination. |
| Release of funds in trust account on closing of our initial business combination | On the completion of our initial business combination, the funds held in the trust account will be disbursed directly by the trustee to pay amounts due to any public shareholders who properly exercise their redemption rights as described above in "*Redemption rights for public shareholders upon the completion of our initial business combination*" to pay all or a portion of the consideration payable to the target or owners of the target of our initial business combination and to pay other expenses associated with our initial business combination. If our initial business combination is paid for using equity or debt or not all of the funds released from the trust account are used for payment of the consideration in connection with our initial business combination or the redemption of our public shares, we may apply the balance of the cash released to us from the trust account for general corporate purposes, including for the maintenance or expansion of operations of post-transaction businesses, the payment of principal or interest due on indebtedness incurred in completing our initial business combination, to fund the purchase of other companies or for working capital. |

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| | |
|:---|:---|
| Redemption of public shares and distribution and liquidation if no initial business combination | Our post-offering memorandum and articles of association will provide that we will have only 15 months from the closing of this offering (and any extension period) to consummate our initial business combination. If we have not consummated an initial business combination within 15 months from the closing of this offering or during any extension period, we will: (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (net of taxes payable and less up to $100,000 of interest to pay dissolution expenses), divided by the number of the then- outstanding public shares, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject, in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.<br>Our sponsor, officers and directors [have entered] into a letter agreement with us, pursuant to which they [have agreed] to waive their rights to liquidating distributions from the trust account with respect to any founder shares they hold if we fail to consummate an initial business combination within the completion window (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within the prescribed time frame).<br>Our sponsor, officers and directors [have agreed], pursuant to a letter agreement with us, that they will not propose any amendment to our post-offering memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within the completion window or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares; unless we provide our public shareholders with the opportunity to redeem their Class A ordinary shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (net of taxes payable), divided by the number of the then- outstanding public shares, subject to the limitations described above adjacent to the caption "Limitations on redemptions." For example, our board of directors may propose such an amendment if it determines that additional time is necessary to complete our initial business combination. In such event, we will conduct a proxy solicitation and distribute proxy materials pursuant to Regulation 14A of the Exchange Act seeking shareholder approval of such proposal and, in connection therewith, provide our public shareholders with the redemption rights described above upon shareholder approval of such amendment. This redemption right shall apply in the event of the approval of any such amendment, whether proposed by our sponsor, officer, director or any other person.<br>Our post-offering memorandum and articles of association will provide that, if we wind up for any other reason prior to the consummation of our initial business combination, we will follow the foregoing procedures with respect to the liquidation of the trust account as promptly as reasonably possible but not more than ten business days thereafter, subject to applicable Cayman Islands law.<br>|

---

---

| | |
|:---|:---|
| Limited payments to insiders | There will be no finder's fees, reimbursements or cash payments made by the company to our sponsor, officers, directors or their affiliates for services rendered to us prior to or in connection with the completion of our initial business combination, other than the following payments, none of which will be made from the proceeds of this offering held in the trust account prior to the completion of our initial business combination:<br>|

---

● Repayment
 of up to an aggregate of $500,000 in loans made to us by our sponsor to cover offering-related and organizational expenses;

● Reimbursement
 for any out-of-pocket expenses related to identifying, investigating, negotiating and completing an initial business combination;
 and

● Repayment
of loans that may be made by our sponsor, its affiliates or certain of our officers and directors to finance transaction costs in connection
with an intended initial business combination. Up to $1,500,000 of such loans may be convertible into private units at a price of $10.0
per unit. Such units would be identical to the private units.

---

| | |
|:---|:---|
|  | Any such payments will be made either (i) prior to our initial business combination using proceeds of this offering and the sale of the private units held outside the trust account or from loans made to us by our sponsor, its affiliates or certain of our officers and directors or (ii) in connection with or after the consummation of our initial business combination. |
| Audit Committee | We have established and will maintain an audit committee, which will be composed entirely of independent directors after the transitional period. Among its responsibilities, the audit committee will review on a quarterly basis all payments that were made by us to our sponsor, officers, directors or their affiliates and monitor compliance with the other terms relating to this offering. If any noncompliance is identified, then the audit committee will be charged with the responsibility to promptly take all action necessary to rectify such noncompliance or otherwise to cause compliance with the terms of this offering. See *"Management — Committees of the Board of Directors — Audit Committee"* for more information. |

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| | |
|:---|:---|
| Conflicts of Interest | Each of our officers and directors presently has, and in the future any of our directors and our officers may have additional, fiduciary or contractual obligations to other entities pursuant to which such officer or director is or will be required to present acquisition opportunities to such entity.<br>Accordingly, subject to his or her fiduciary duties under Cayman Islands law, if any of our officers or directors becomes aware of an acquisition opportunity which is suitable for an entity to which he or she has then current fiduciary or contractual obligations, he or she will need to honor his or her fiduciary or contractual obligations to present such acquisition opportunity to such entity, and only present it to us if such entity rejects the opportunity. Our post-offering memorandum and articles of association will provide that we renounce our interest or expectancy in, or in being offered an opportunity to participate in, any potential transaction or matter which may be a corporate opportunity for any director or officer, on the one hand, and us, on the other hand. We do not believe, however, that any fiduciary duties or contractual obligations of our directors or officers would materially undermine our ability to complete our business combination.<br>Our sponsor, officers or directors may sponsor or form other SPACs similar to ours or may pursue other business or investment ventures during the period in which we are seeking an initial business combination. As a result, our sponsor, officers and directors could have conflicts of interest in determining whether to present business combination opportunities to us or to any other SPAC with which they may become involved. Any such companies, businesses or investments may present additional conflicts of interest in pursuing an initial business combination target. Such potential conflicts could materially affect our ability to complete our initial business combination. <br>In light of the involvement of our sponsor, its sole director, and our officers and directors with other entities, we may decide to acquire one or more businesses affiliated with or competitive with our sponsor, officers, directors and their respective affiliates or existing holders. Our directors also serve as officers and/or board members for other entities, including, without limitation, those described under "*Management — Conflicts of Interest*." Such entities may compete with us for business combination opportunities. Our sponsor, officers and directors are not currently aware of any specific opportunities for us to complete our initial business combination with any entities with which they are affiliated, and there have been no substantive discussions concerning a business combination with any such entity or entities. Although we will not be specifically focusing on, or targeting, any transaction with any affiliated entities, we may eventually pursue such a transaction if we determined that such affiliated entity met our criteria for a business combination. Despite that we may obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions regarding the fairness to our company from a financial point of view of a business combination with business affiliated with our sponsor, officers, directors or existing holders, potential conflicts of interest still may exist and, as a result, the terms of the business combination may not be as advantageous to our public shareholders as they would be absent any conflicts of interest. <br>Our sponsor and members of our management team will directly or indirectly own our securities following this offering, and accordingly, they may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination, including the fact that they may lose their entire investment in us if our initial business combination is not completed, except to the extent they receive liquidating distributions from assets outside the trust account. Our sponsor currently owns 2,957,143 Class B ordinary shares (up to 385,714 of which are subject to forfeiture depending on the extent to which the underwriter's over-allotment option is exercised) and, accordingly, may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination. The approximately $0.008 per share price that our sponsor paid for the founder shares creates an incentive whereby our sponsor, directors and officers could potentially make a substantial profit even if the company selects an acquisition target that subsequently declines in value and is unprofitable for public investors. <br>We are not prohibited from paying any fees (including advisory fees, consulting fees or success fees) and reimbursements or cash payments to our sponsor, officers or directors, or our or their affiliates, for services rendered to us prior to or in connection with the completion of our initial business combination, including payment of consulting, legal, success or finder fees to our independent directors, advisors, or their respective affiliates in connection with the consummation of our initial business combination. Prior to the closing of this offering, our sponsor agreed to loan us up to $500,000 to cover offering-related and organizational expenses. In order to finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated to, loan us additional funds as may be required. If the $1,500,000 in working capital loans is fully advanced and the holders of the loan elect to convert the working capital loans into private units at $10.00 per unit, it will result in the holders receiving an additional 150,000 private Class A ordinary shares and 150,000 private placement rights (where each private right entitles the holder to receive one-seventh (1/7) of one private Class A ordinary share). Moreover, commencing from the date that our securities are first listed on Nasdaq through the earlier of the consummation of our initial business combination and our liquidation, our sponsor will make available to us certain general and administrative services, including office space, administrative and support services, as we may require from time to time. We will pay our sponsor up to $10,000 per month for these services, payable upon consummation of our initial business combination. <br>In addition to the above, our officers and directors are not required to commit any specified amount of time to our affairs, and, accordingly, may have conflicts of interest in allocating management time among various business activities, including selecting a business combination target and monitoring the related due diligence. See "*Risk Factors — Risks Relating to Our Management Team — Our officers and directors will allocate their time to other businesses thereby causing conflicts of interest in their determination as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to complete our initial business combination*." <br>Additionally, our sponsor and executive officers and directors have agreed to waive their redemption rights with respect to any founder shares, private shares and any public shares held by them in connection with the consummation of our initial business combination. Further, our sponsor and executive officers and directors have agreed to waive their redemption rights with respect to any founder shares, private shares and public shares held by them if we are unable to complete our initial business combination within 15 months from the closing of this offering or by such earlier liquidation date as our board of directors may approve. If we do not complete our initial business combination within such applicable time period, the proceeds of the sale of the private units held in the trust account will be used to fund the redemption of our public shares, and the private units may be worthless. <br>|

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**RISKS**

We are a recently incorporated blank check company that has conducted no operations and has generated no revenues. Until we complete our initial business combination, we will have no operations and will generate no operating revenues. In making your decision whether to invest in our securities, you should take into account not only the background of our management team, but also the special risks we face as a blank check company. This offering is not being conducted in compliance with Rule 419 promulgated under the Securities Act. Accordingly, you will not be entitled to protections normally afforded to investors in Rule 419 blank check offerings. See "*Proposed Business — Comparison of This Offering to Those of Blank Check Companies Subject to Rule 419*" for more information. You should carefully consider these and the other risks set forth in the section entitled "*Risk Factors*" in this prospectus.

**Summary of Risk Factors**

An investment in our securities involves a high degree of risk. The occurrence of one or more of the events or circumstances described in the section titled "*Risk Factors*," alone or in combination with other events or circumstances, may materially adversely affect our business, financial condition and operating results. In that event, the trading price of our securities could decline, and you could lose all or part of your investment. Such risks include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We are a blank check company with no operating history and no revenues, and you have no basis on which to evaluate our ability to achieve our business objective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Our public shareholders may not be afforded an opportunity to vote on our proposed initial business combination, and even if we hold a vote, holders of our founder shares and private shares will participate in such vote, which means we may complete our initial business combination even though a majority of our public shareholders do not support such a combination. Assuming that only the holders of one-third of our issued and outstanding ordinary shares, representing a quorum under our post-offering memorandum and articles of association, vote their shares at a general meeting of the company, we will not need any public shares in addition to our founder shares and private shares to be voted in favor of an initial business combination in order to approve an initial business combination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Your only opportunity to affect your investment decision regarding a potential business combination may be limited to the exercise of your right to redeem your shares from us for cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Our sponsor will control the appointment of our board of directors until consummation of our initial business combination and will hold a substantial interest in us. As a result, it will appoint or remove all of our directors prior to the consummation of our initial business combination and may exert a substantial influence on actions requiring a shareholder vote, potentially in a manner that you do not support.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● If we seek shareholder approval of our initial business combination, our initial shareholders and management team have agreed to vote in favor of such initial business combination, regardless of how our public shareholders vote.

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The ability of our public shareholders to redeem their shares for cash may make our financial condition unattractive to potential business combination targets, which may make it difficult for us to enter into a business combination with a target.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Since our sponsor, executive officers directors, and initial shareholders will lose their entire investment in us if our initial business combination is not completed (other than with respect to public shares they may acquire during or after this offering), a conflict of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Due to the significant ties of certain of certain of our executive officers, directors and Sponsor the PRC, we may be a less attractive partner to non-PRC-based target companies as compared to a non-PRC based SPAC, therefore this may make it more difficult for us to complete an initial business combination with a target company that is non-PRC based. See "*Risk Factors — Risks Relating to Our Management — Due to the significant ties of certain of our executive officers, directors and Sponsor to the PRC, we may be a less attractive partner to non-PRC-based target companies as compared to a non-PRC based SPAC, therefore this may make it more difficult for us to complete an initial business combination with a target company that is non-PRC*."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Given the Chinese government's potential oversight and discretion over the conduct of our directors' and officers' search for a target company, the Chinese government may intervene or influence our operations at any time, which could result in a material change in our search for a target business and/or the value of the securities we are registering. Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be adopted quickly with little advance notice and could have a significant impact upon our ability to operate. See "*Risk Factors — Risks Relating to Our Search for, and Consummation of or Inability to Consummate, a Business Combination — Since certain of our directors and officers are based in or have significant ties to China, the Chinese government may have potential oversight and discretion over the conduct of our directors' and officers' search for a target company. The Chinese government may intervene or influence our operations at any time through our directors and officers who are based in or have significant ties to China, which could result in a material change in our search for a target business and the value of the securities we are offering. Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be adopted quickly with little advance notice and could have a significant impact upon our ability to operate*."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The ability of our public shareholders to exercise redemption rights with respect to a large number of our shares may not allow us to complete the most desirable business combination or optimize our capital structure, and may substantially dilute your investment in us.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We may not be able to consummate an initial business combination within 15 months after the closing of this offering, in which case we would cease all operations except for the purpose of winding up and we would redeem our public shares, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The requirement that we complete our initial business combination within the completion window may give potential target businesses leverage over us in negotiating a business combination and may limit the time we have in which to conduct due diligence on potential business combination targets, in particular as we approach our dissolution deadline, which could undermine our ability to complete our initial business combination on terms that would produce value for our shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● If we seek shareholder approval of our initial business combination, our sponsor, initial shareholders, directors, officers, and their affiliates may elect to purchase shares or rights from public shareholders, which may influence a vote on a proposed business combination and reduce the public "float" of our Class A ordinary shares or rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● You will not have any rights or interests in funds from the trust account, except under certain limited circumstances. Therefore, to liquidate your investment, you may be forced to sell your public shares or rights, potentially at a loss.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Our independent registered public accounting firm's report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a "going concern

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The Nasdaq may delist our securities from trading on its exchange, which could limit investors' ability to make transactions in our securities and subject us to additional trading restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The value of the founder shares following completion of our initial business combination is likely to be substantially higher than the nominal price paid for them, even if the trading price of our ordinary at such time is substantially less than $10.00 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● You will not be entitled to protections normally afforded to investors of many other blank check companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● If the net proceeds of this offering and the sale of the private units not held in the trust account are insufficient to allow us to operate for at least the duration of the completion window, it could limit the amount available to fund our search for a target business or businesses and complete our initial business combination, and we will depend on loans from our sponsor, its affiliates or our management team to fund our search and to complete our initial business combination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Past performance by our management team, our advisors and their respective affiliates, including investments and transactions in which they have participated and businesses with which they have been associated, may not be indicative of future performance of an investment in the company.

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We may be a passive foreign investment company, or "PFIC," which could result in adverse United States federal income tax consequences to U.S. investor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that we hold investments in the trust account, we may, at any time (based on our management team's ongoing assessment of all factors related to our potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the trust account and instead to hold the funds in the trust account in cash or in an interest bearing demand deposit account at a bank until the earlier of the consummation of our initial business combination or our liquidation. As a result, following the liquidation of investments in the trust account, we would likely receive less interest on the funds held in the trust account, which would likely reduce the dollar amount our public shareholders would receive upon any redemption or liquidation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Depending on the details of our initial business combination, a U.S. federal excise tax could be imposed on us in connection with any redemptions of our Class A ordinary shares in connection with such initial business combination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● If we are deemed to be an investment company under the Investment Company Act, we may be required to institute burdensome compliance requirements and our activities may be restricted, which may make it difficult for us to complete our initial business combination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, including our ability to negotiate and complete our initial business combination, and results of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Our search for an initial business combination, and any target business with which we may ultimately consummate an initial business combination, may be materially adversely affected by current global geopolitical conditions resulting from the ongoing Russia-Ukraine conflict and the recent escalation of the conflict in the Middle East and Southwest Asia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● If we effect our initial business combination with a company located outside of the United States, we would be subject to a variety of additional risks that may adversely affect us.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We may reincorporate in or transfer by way of continuation to another jurisdiction which may result in taxes imposed on shareholders and/or right holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● We are subject to changing law and regulations regarding regulatory matters, corporate governance and public disclosure that have increased both our costs and the risk of non-compliance.

**SUMMARY FINANCIAL DATA**

The following table summarizes the relevant financial data for our business and should be read with our financial statements, which are included in this prospectus. We have not had any significant operations to date, so only balance sheet data is presented.

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| | | |
|:---|:---|:---|
| | **July 31, 2025** | **July 31, 2025** |
| <br>**Balance Sheet Data:** | **Actual** | **As Adjusted** |
| Working (deficiency) capital<sup>(1)</sup> | $(94231) | 623739 |
| Total assets<sup>(2)</sup> | $115000 | 60705769 |
| Total liabilities<sup>(3)</sup> | $109231 | 82030  |
| Value of ordinary shares subject to possible redemption<sup>(4)</sup> | $- | 60000000 |
| Shareholder's equity (deficit)<sup>(5)</sup> | $5769 | 623739 |

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&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The "as adjusted" calculation includes $700,000 of cash held outside the trust account, minus $82,030 over-allotment option liability, plus $5,769 of actual shareholders' deficit as of July 31, 2025.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(2)* *The "as adjusted" calculation equals $60,000,000 cash held in trust from the proceeds of this offering and the sale of the private units, plus $700,000 of cash held outside the trust account, plus $5,769 of shareholders' equity as of July 31, 2025 assuming the underwriter's over-allotment option is not exercised.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(3)* *The "as adjusted" calculation includes $82,030 of the over-allotment liability.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(4)* *The "as adjusted" amount includes all Class A ordinary shares included in the units sold in this offering, assuming the over-allotment option is not exercised, net of the fair value of rights included in the units sold in this offering and the estimated offering costs. The Class A ordinary shares offered to the public contain redemption rights that make them redeemable by our public shareholders. Accordingly, they are classified as temporary equity in accordance with the guidance provided in ASC 480-10-S99-3A, and the carrying value are adjusted to equal the redemption value immediately. Increases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid in capital, or accumulated deficit if additional paid in capital equals to zero.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(5)* *Excludes 6,000,000 ordinary shares which may be redeemed in connection with our initial business combination and assuming no exercise of the over-allotment option. The actual number of shares that may be redeemed may exceed this amount. The "as adjusted" calculation equals the "as adjusted" total assets, less the "as adjusted" total liabilities, less the value of Class A ordinary shares that may be redeemed in connection with our initial business combination (initially $10.00 per share or 100% of the gross proceeds from this offering).* 

If no business combination is completed within 15 months (as such period may be extended pursuant to our charter documents (subject to shareholder approval, there are no limitations as to the duration of an extension or the number of times the completion window may be extended by shareholders via an amendment to our post-offering memorandum and articles of association)) from the closing of this initial public offering, the proceeds then on deposit in the trust account, including interest (which interest shall be net of taxes payable), will be used to fund the redemption of our public shares. Our sponsor, officers and directors will enter into a letter agreement with us, pursuant to which they will agree to (i) waive their redemption rights with respect to their initial shares, private shares and public shares in connection with the completion of our initial business combination; (ii) waive their redemption rights with respect to their initial shares, private shares and public shares in connection with a shareholder vote to approve an amendment to our post-offering memorandum and articles of association (a) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we have not consummated an initial business combination within the completion window or (b) with respect to any other material provisions relating to shareholders' rights or pre-initial business combination activity; (iii) waive their rights to liquidating distributions from the trust account with respect to their initial shares and private shares if we fail to complete our initial business combination within the completion window, although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within the prescribed time frame; and (iv) vote any initial shares and private shares held by them and any public shares purchased during or after this offering (including in open market and privately-negotiated transactions), aside from shares they may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act, which may not be voted in favor of approving our initial business combination.

**RISK FACTORS**

*An investment in our securities involves a high degree of risk. You should consider carefully all of the risks described below, together with the other information contained in this prospectus, before making a decision to invest in our units.* If *any of the following events occur, our business, financial condition and operating results may be materially adversely affected. In that event, the trading price of our securities could decline, and you could lose all or part of your investment.*

**Risks Relating to Our Search for, and Consummation of or Inability to Consummate, a Business Combination**

***We are a blank check company with no operating history and no revenues, and, accordingly, you will not have any basis on which to evaluate our ability to achieve our business objective.***

We are a blank check company with no operating results to date. Therefore, our ability to commence operations is dependent upon obtaining financing through the public offering of our securities. Since we do not have an operating history, you will have no basis upon which to evaluate our ability to achieve our business objective, which is to acquire an operating business. We have not conducted any discussions and we have no plans, arrangements or understandings with any prospective acquisition candidates. We will not generate any revenues until, at the earliest, after the consummation of a business combination.

***Our public shareholders may not be afforded an opportunity to vote on our proposed initial business combination, and even if we hold a vote, holders of our founder shares and private shares will participate in such vote, which means we may complete our initial business combination even though a majority of our public shareholders do not support such a combination***.

We may choose not to hold a shareholder vote to approve our initial business combination unless the business combination would require shareholder approval under applicable law or stock exchange listing requirements. In such case, the decision as to whether we will seek shareholder approval of a proposed business combination or will allow shareholders to sell their shares to us in a tender offer will be made by us, solely in our discretion, and will be based on a variety of factors, such as the timing of the transaction and whether the terms of the transaction would otherwise require us to seek shareholder approval. Even if we seek shareholder approval, the holders of our founder shares and private shares will participate in the vote on such approval. Accordingly, we may consummate our initial business combination even if holders of a majority of the issued and outstanding ordinary shares do not approve of the business combination we consummate. See "*Proposed Business — Effecting our Initial Business Combination — Shareholders May Not Have the Ability to Approve Our Initial Business Combination*" for more information.

***If we seek shareholder approval of our initial business combination, our initial shareholders and management team have agreed to vote in favor of such initial business combination, regardless of how our public shareholders vote.***

 ****

Our initial shareholder, directors, officers and A.G.P. have agreed (and their permitted transferees will agree), pursuant to the terms of a letter agreement [entered into] with us, to vote any shares held by them in favor of our initial business combination. As a result, we would need 1,679,836 Class A ordinary shares, or 28.0% for an ordinary resolution, or 3,193,591 Class A ordinary shares, or 53.2% for a special resolution (if our initial business combination is structured as a statutory merger or consolidation with another company under Cayman Islands law) (assuming all issued and outstanding shares are voted, the over-allotment option is not exercised and the initial shareholder does not purchase any units in this offering or units or shares in the after-market), of the 6,000,000 public shares sold in this offering to be voted in favor of an initial business combination in order to have such initial business combination approved. Assuming that only the holders of one-third of our issued and outstanding ordinary shares, representing a quorum under our post-offering memorandum and articles of association, vote their shares at a general meeting of the company, we will not need any public shares in addition to our founder shares and private shares to be voted in favor of an initial business combination in order to approve an initial business combination. We expect that our initial shareholder and its permitted transferees will own at least 30% of our issued and outstanding ordinary shares (excluding private shares, Representative Shares and A.G.P. Shares) at the time of any such shareholder vote. Accordingly, if we seek shareholder approval of our initial business combination, it is more likely that the necessary shareholder approval will be received than would be the case if such persons agreed to vote their founder shares in accordance with the majority of the votes cast by our public shareholders.

***Your only opportunity to affect the investment decision regarding a potential business combination will be limited to the exercise of your right to redeem your shares from us for cash, unless we seek shareholder approval of such business combination.***

 

At the time of your investment in us, you will not be provided with an opportunity to evaluate the specific merits or risks of any target businesses. Additionally, since our board of directors may complete a business combination without seeking shareholder approval, public shareholders may not have the right or opportunity to vote on the business combination, unless we seek such shareholder approval. Accordingly, if we do not seek shareholder approval, your only opportunity to affect the investment decision regarding a potential business combination may be limited to exercising your redemption rights within the period of time (which will be at least 20 business days) set forth in our tender offer documents mailed to our public shareholders in which we describe our initial business combination.

***The ability of our public shareholders to redeem their shares for cash may make our financial condition unattractive to potential business combination targets, which may make it difficult for us to enter into a business combination with a target.***

 ****

We may seek to enter into a business combination transaction agreement with a minimum cash requirement for (i) cash consideration to be paid to the target or its owners, (ii) cash for working capital or other general corporate purposes or (iii) the retention of cash to satisfy other conditions. If too many public shareholders exercise their redemption rights, we would not be able to meet such closing condition and, as a result, would not be able to proceed with the business combination. Consequently, if accepting all properly submitted redemption requests would not allow us to satisfy a closing condition as described above, we would not proceed with such redemption and the related business combination and may instead search for an alternate business combination. Prospective targets will be aware of these risks and, thus, may be reluctant to enter into a business combination transaction with us.

***The ability of our public shareholders to exercise redemption rights with respect to a large number of our shares may not allow us to complete the most desirable business combination or optimize our capital structure, and may substantially dilute your investment in us.***

 ****

At the time we enter into an agreement for our initial business combination, we will not know how many shareholders may exercise their redemption rights, and therefore will need to structure the transaction based on our expectations as to the number of shares that will be submitted for redemption. If our initial business combination agreement requires us to use a portion of the cash in the trust account to pay the purchase price, or requires us to have a minimum amount of cash at closing, we will need to reserve a portion of the cash in the trust account to meet such requirements, or arrange for third-party financing. In addition, if a larger number of shares are submitted for redemption than we initially expected, we may need to restructure the transaction to reserve a greater portion of the cash in the trust account or arrange for third-party financing. Raising additional third-party financing may involve dilutive equity issuances or the incurrence of indebtedness at higher than desirable levels. Furthermore, this dilution would increase to the extent that the anti-dilution provision of the Class B ordinary shares results in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion of the Class B ordinary shares at the time of our initial business combination. The above considerations may limit our ability to complete the most desirable business combination available to us or optimize our capital structure. As a result, our obligations to redeem public shares for which redemption is requested may not allow us to complete the most desirable business combination or optimize our capital structure.

***The requirement that we complete our initial business combination within the completion window may give potential target businesses leverage over us in negotiating a business combination and may limit the time we have in which to conduct due diligence on potential business combination targets, in particular as we approach our dissolution deadline, which could undermine our ability to complete our initial business combination on terms that would produce value for our shareholders.***

 ****

Any potential target business with which we enter into negotiations concerning a business combination will be aware that we must complete our initial business combination within the completion window. Consequently, such target business may obtain leverage over us in negotiating a business combination, knowing that if we do not complete our initial business combination with that particular target business, we may be unable to complete our initial business combination with any target business. This risk will increase as we get closer to the timeframe described above. In addition, we may have limited time to conduct due diligence and may enter into our initial business combination on terms that we would have rejected upon a more comprehensive investigation. The length of time it may take us to complete our diligence and negotiate a business combination may reduce the amount of time available for us to ultimately complete an initial business combination should such diligence or negotiations not lead to a consummated initial business combination.

***We may engage the underwriter or its respective affiliates to provide additional services to us after this offering. As a result, these financial incentives may cause them to have potential conflicts of interest in rendering any such additional services to us after this offering, including, for example, in connection with the sourcing and consummation of an initial business combination.***

 ****

We may engage the underwriter or its respective affiliates to provide additional services to us after this offering, including, for example, identifying potential targets, providing M&A advisory services, acting as a placement agent in a private offering or arranging debt financing transactions. As a result, these financial interests tied to the consummation of a business combination transaction may give rise to potential conflicts of interest in providing any additional services to us, including potential conflicts of interest in connection with the sourcing and consummation of an initial business combination. The underwriter is under no obligation to provide any further services to us in order to receive all or any part of the underwriting commissions.

***We may not be able to complete our initial business combination within the completion window, in which case we would redeem our public shares.***

 ****

We may not be able to find a suitable target business and complete our initial business combination within the completion window after the closing of this offering. Our ability to complete our initial business combination may be negatively impacted by general market conditions, volatility in the capital and debt markets and the other risks described herein. If we have not completed our initial business combination within such time period, we will (i) cease all operations except for the purpose of winding up, liquidation and subsequent dissolution pursuant to the terms of our post-offering memorandum and articles of association, (ii) as promptly as reasonably possible but not more than ten business days thereafter (and subject to lawfully available funds therefor), redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net of taxes payable and less up to $100,000 of interest to pay liquidation and dissolution expenses), divided by the number of then-outstanding public shares, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. In such case, our public shareholders may only receive $10.00 per share, or possibly less, and our rights will expire without value to the holder. In certain circumstances, our public shareholders may receive less than $10.00 per share on the redemption of their shares. See "*— If third parties bring claims against us, the proceeds held in the trust account could be reduced and the per-share redemption amount received by shareholders may be less than $10.00 per share*" and other risk factors described in this "*Risk Factors*" section.

***We may decide not to extend the term we have to consummate our initial business combination, in which case we would redeem our public shares, and the rights may be worthless.***

 ****

We have until the date that is 15 months from the closing of this offering (or during any extension period) or until such earlier liquidation date as our board of directors may approve, to consummate our initial business combination. If we anticipate that we may be unable to consummate our initial business combination within such period and we wish to further extend the date by which we must consummate our initial business combination, we will seek shareholder approval to amend our post-offering memorandum and articles of association to extend the date by which we must consummate our initial business combination. However, we may decide not to seek to extend the date by which we must consummate our initial business combination. If we do not seek to extend the date by which we must consummate our initial business combination, and we are unable to consummate our initial business combination within the applicable time period, we will (i) cease all operations except for the purpose of winding up, liquidation and subsequent dissolution pursuant to the terms of our post-offering memorandum and articles of association (ii) as promptly as reasonably possible but not more than ten business days thereafter (and subject to lawfully available funds therefor), redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net of taxes payable and less up to $100,000 of interest to pay liquidation and dissolution expenses), divided by the number of then-outstanding public shares, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case, to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. In such event, the rights may be worthless.

***If we seek shareholder approval of our initial business combination, our sponsor, initial shareholder, directors, officers, advisors and their affiliates may elect to purchase shares or rights from public shareholders, which may influence a vote on a proposed business combination and reduce the public "float" of our Class A ordinary shares or rights.***

 ****

If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our sponsor, initial shareholder, directors, officers, advisors and their affiliates may purchase public shares or rights in privately negotiated transactions or in the open market either prior to or following the completion of our initial business combination, although they are under no obligation or duty to do so. Such a purchase may include a contractual acknowledgment that such shareholder, although still the record holder of our shares is no longer the beneficial owner thereof and therefore agrees not to exercise its redemption rights. In the event that our sponsor, initial shareholder, directors, officers, advisors and their affiliates purchase shares in privately negotiated transactions from public shareholders who have already elected to exercise their redemption rights, such selling shareholders would be required to revoke their prior elections to redeem their shares. It is intended that, if Rule 10b-18 would apply to purchases by sponsor, initial shareholder, directors, officers, advisors and their affiliates, then such purchases will comply with Rule 10b-18 under the Exchange Act, to the extent it applies, which provides a safe harbor for purchases made under certain conditions, including with respect to timing, pricing and volume of purchases.

Additionally, at any time at or prior to our initial business combination, subject to applicable securities laws (including with respect to material nonpublic information), our sponsor, initial shareholder, directors, officers, advisors and their affiliates may enter into transactions with investors and others to provide them with incentives to acquire public shares, vote their public shares in favor of our initial business combination (aside from shares they may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act, which may not be voted in favor of approving our initial business combination) or not redeem their public shares. However, they have no current commitments, plans or intentions to engage in such transactions and have not formulated any terms or conditions for any such transactions. None of the funds in the trust account will be used to purchase public shares, rights or units in such transactions.

The purpose of any such transactions could be to (1) increase the likelihood of obtaining shareholder approval of the business combination, (2) reduce the number of public rights outstanding and/or increase the likelihood of approval on any matters submitted to the public right holders for approval in connection with our initial business combination or (3) satisfy a closing condition in an agreement with a target that requires us to have a minimum net worth or a certain amount of cash at the closing of our initial business combination, where it appears that such requirement would otherwise not be met. Any such purchases of our securities may result in the completion of our initial business combination that may not otherwise have been possible.

In addition, if such purchases are made, the public "float" of our securities may be reduced and the number of beneficial holders of our securities may be reduced, which may make it difficult to maintain or obtain the quotation, listing or trading of our securities on a national securities exchange. Any such purchases will be reported pursuant to Section 13 and Section 16 of the Exchange Act to the extent such purchasers are subject to such reporting requirements.

Additionally, in the event our sponsor, initial shareholder, directors, officers, advisors and their affiliates were to purchase public shares or rights from public shareholders, such purchases would be structured in compliance with the requirements of Rule 14e-5 under the Exchange Act including, in pertinent part, through adherence to the following:

● our registration statement/proxy statement filed for our business combination transaction would disclose the possibility that our sponsor, initial shareholder, directors, officers, advisors and their affiliates may purchase public shares or rights from public shareholders outside the redemption process, along with the purpose of such purchases;

● if our sponsor, initial shareholder, directors, officers, advisors and their affiliates were to purchase public shares or rights from public shareholders, they would do so at a price no higher than the price offered through our redemption process;

● our sponsor, initial shareholder, directors, officers, advisors and their affiliates would not possess any redemption rights with respect to our securities or, if they do acquire and possess redemption rights, they would waive such rights; and

● we would disclose in a Form 8-K, before our security holder meeting to approve the business combination transaction, the following material items:

● the amount of our securities purchased outside of the redemption offer by our sponsor, initial shareholder, directors, officers, advisors and their affiliates, along with the purchase price;

● the purpose of the purchases by our sponsor, initial shareholder, directors, officers, advisors and their affiliates;

● the impact, if any, of the purchases by our sponsor, initial shareholder, directors, officers, advisors and their affiliates on the likelihood that the business combination transaction will be approved;

● the identities of our security holders who sold to our sponsor, initial shareholder, directors, officers, advisors and their affiliates (if not purchased on the open market) or the nature of our security holders (e.g., 5% security holders) who sold to our sponsor, initial shareholder, directors, officers, advisors and their affiliates; and

● the number of our securities for which we have received redemption requests pursuant to our redemption offer.

***If a shareholder fails to receive notice of our offer to redeem our public shares in connection with our initial business combination, or fails to comply with the procedures for submitting or tendering its shares, such shares may not be redeemed.***

 ****

We will comply with the proxy rules or tender offer rules, as applicable, when conducting redemptions in connection with our initial business combination. Despite our compliance with these rules, if a shareholder fails to receive our proxy materials or tender offer documents, as applicable, such shareholder may not become aware of the opportunity to redeem its shares. In addition, proxy materials or tender offer documents, as applicable, that we will furnish to holders of our public shares in connection with our initial business combination will describe the various procedures that must be complied with in order to validly tender or submit public shares for redemption. We intend to require our public shareholders seeking to exercise their redemption rights, whether they are record holders or hold their shares in "street name," to, at the holder's option, either deliver their share certificates to our transfer agent, or to deliver their shares to our transfer agent electronically prior to the date set forth in the proxy materials or tender offer documents, as applicable. If we conduct redemptions in connection with a shareholder vote, we intend to require a public shareholder seeking redemption of its public shares to also submit a written request for redemption to our transfer agent prior to the scheduled vote in which the name of the beneficial owner of such shares is included. In the event that a shareholder fails to comply with these or any other procedures disclosed in the proxy or tender offer materials, as applicable, its shares may not be redeemed.

***You will not be entitled to protections normally afforded to investors of other blank check companies subject to Rule 419 of the Securities Act.***

 ****

Since the net proceeds of this offering and the sale of the private units are intended to be used to complete one or more initial business combinations with a target business or businesses that have not been selected, we may be deemed to be a "blank check" company under the United States securities laws. However, because we will have net tangible assets in excess of $5,000,000 upon the completion of this offering and the sale of the private units and will file a Current Report on Form 8-K, including an audited balance sheet demonstrating this fact, we are exempt from rules promulgated by the SEC to protect investors in blank check companies, such as Rule 419. Accordingly, investors will not be afforded the benefits or protections of those rules. Among other things, this means our units will be immediately tradable and we will have a longer period of time to complete our respective business combinations than do companies subject to Rule 419. Moreover, if this offering were subject to Rule 419, that rule would prohibit the release of any interest earned on funds held in the trust account to us unless and until the funds in the trust account were released to us or in connection with our completion of an initial business combination. See *"Proposed Business — Comparison of This Offering to Those of Blank Check Companies Subject to Rule 419"* for more information.

***If we seek shareholder approval of our initial business combination and we do not conduct redemptions pursuant to the tender offer rules, and if you or a "group" of shareholders are deemed to hold in excess of 15% of our Class A ordinary shares, you may lose the ability to redeem all such shares in excess of 15% of our Class A ordinary shares.***

 ****

If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our post-offering memorandum and articles of association provide that a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a "group" (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares sold in this offering, which we refer to as the "Excess Shares," without our prior consent. However, we would not be restricting our shareholders' ability to vote all of their shares (including Excess Shares) for or against our initial business combination. Your inability to redeem the Excess Shares will reduce your influence over our ability to complete our initial business combination and you could suffer a material loss on your investment in us if you sell Excess Shares in open market transactions. Additionally, you will not receive redemption distributions with respect to the Excess Shares if we complete our initial business combination. And as a result, you will continue to hold that number of shares exceeding 15% and, in order to dispose of such shares, would be required to sell your shares in open market transactions, potentially at a loss.

***Because of our limited resources and the significant competition for business combination opportunities, it may be more difficult for us to complete our initial business combination. If we are unable to complete our initial business combination, our public shareholders may receive only their pro rata portion of the funds in the trust account that are available for distribution to public shareholders, our rights will expire worthless.***

 ****

We expect to encounter competition from other entities having a business objective similar to ours, including private investors (which may be individuals or investment partnerships), other blank check companies and other entities, domestic and international, competing for the types of businesses we intend to acquire. Many of these individuals and entities are well-established and have extensive experience in identifying and effecting, directly or indirectly, acquisitions of companies operating in or providing services to various industries. Many of these competitors possess similar or greater technical, human and other resources to ours or more local industry knowledge than we do and our financial resources will be relatively limited when contrasted with those of many of these competitors. While we believe there are numerous target businesses we could potentially acquire with the net proceeds of this offering and the sale of the private units, our ability to compete with respect to the acquisition of certain target businesses that are sizable will be limited by our available financial resources. This inherent competitive limitation gives others an advantage in pursuing the acquisition of certain target businesses. Furthermore, we are obligated to offer holders of our public shares the right to redeem their shares for cash at the time of our initial business combination in conjunction with a shareholder vote or via a tender offer. Target companies will be aware that this may reduce the resources available to us for our initial business combination. Any of these obligations may place us at a competitive disadvantage in successfully negotiating a business combination. If we are unable to complete our initial business combination, our public shareholders may receive only their pro rata portion of the funds in the trust account that are available for distribution to public shareholders, and our rights will expire worthless.

***If the net proceeds of this offering and the sale of the private units not held in the trust account are insufficient to allow us to operate for at least the duration of the completion window, it could limit the amount available to fund our search for a target business or businesses and complete our initial business combination, and we will depend on loans from our sponsor or management team to fund our search and to complete our initial business combination.***

 ****

We believe that, upon closing of this offering, net proceeds of this offering and the sale of the private units not held in the trust account will be sufficient to allow us to operate for at least the duration of the completion window; however, we cannot assure you that our estimate is accurate.

We could use net proceeds of this offering and the sale of the private units not held in the trust account to pay fees to consultants to assist us with our search for a target business. We could also use such amounts as a down payment or to fund a "no-shop" provision (a provision in letters of intent or merger agreements designed to keep target businesses from "shopping" around for transactions with other companies or investors on terms more favorable to such target businesses) with respect to a particular proposed business combination, although we do not have any current intention to do so. If we entered into a letter of intent or merger agreement where we paid for the right to receive exclusivity from a target business and were subsequently required to forfeit such funds (whether as a result of our breach or otherwise), we might not have sufficient funds to continue searching for, or conduct due diligence with respect to, a target business.

The offering expenses are estimates only. In the event that offering expenses are less than as set forth in this prospectus, any such amounts will be used for post-closing working capital expenses. In the event that the offering expenses are more than as set forth in this table, we may fund such excess with funds not held in the trust account.

Neither our sponsor, members of our management team nor any of their affiliates is under any obligation to advance funds to us in such circumstances. Any such advances would be repaid only from net proceeds of this offering and the sale of the private units not held in the trust account or from funds released to us upon completion of our initial business combination. In addition, if our sponsor or certain of our directors and officers makes any working capital loans, up to $1,500,000 of such loans may be convertible into private units at a price of $10.00 per unit at the option of the lender upon the consummation of our initial business combination. Such units would be identical to the private units. Prior to the completion of our initial business combination, we do not expect to seek loans from parties other than our sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account. If we are unable to complete our initial business combination because we do not have sufficient funds available to us, we will be forced to liquidate the trust account. Consequently, our public shareholders may only receive an estimated $10.00 per share, or possibly less, on our redemption of our public shares, and our rights will expire worthless.

***If third parties bring claims against us, the proceeds held in the trust account could be reduced and the per-share redemption amount received by shareholders may be less than $10.00 per share.***

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Our placing of funds in the trust account may not protect those funds from third-party claims against us. Although we will seek to have all vendors, service providers, prospective target businesses and other entities with which we do business execute agreements with us waiving any right, title, interest or claim of any kind in or to any monies held in the trust account for the benefit of our public shareholders, such parties may not execute such agreements, or even if they execute such agreements they may not be prevented from bringing claims against the trust account, including, but not limited to, fraudulent inducement, breach of fiduciary responsibility or other similar claims, as well as claims challenging the enforceability of the waiver, in each case in order to gain advantage with respect to a claim against our assets, including the funds held in the trust account. If any third party refuses to execute an agreement waiving such claims to the monies held in the trust account, our management will consider whether competitive alternatives are reasonably available to us and will only enter into an agreement with such third party if management believes that such third party's engagement would be in the best interests of the company under the circumstances. Adeptus Partners, LLC, our independent registered public accounting firm, and the underwriter of this offering will not execute agreements with us waiving such claims to the monies held in the trust account.

Examples of possible instances where we may engage a third party that refuses to execute a waiver include the engagement of a third-party consultant whose particular expertise or skills are believed by management to be superior to those of other consultants that would agree to execute a waiver or in cases where management is unable to find a service provider willing to execute a waiver. In addition, there is no guarantee that such entities will agree to waive any claims they may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with us and will not seek recourse against the trust account for any reason. Upon redemption of our public shares, if we are unable to complete our initial business combination within the prescribed timeframe, or upon the exercise of a redemption right in connection with our initial business combination, we will be required to provide for payment of claims of creditors that were not waived. Accordingly, the per-share redemption amount received by public shareholders could be less than the $10.00 per public share initially held in the trust account, due to claims of such creditors. Pursuant to the letter agreement the form of which is filed as an exhibit to the registration statement of which this prospectus forms a part, our sponsor [has agreed] that it will be liable to us if and to the extent any claims by a third party for services rendered or products sold to us (except for our independent registered public accounting firm), or a prospective target business with which we enter into a written letter of intent, confidentiality or other similar agreement or business combination agreement, reduce the amount of funds in the trust account to below the lesser of (i) $10.00 per public share and (ii) the actual amount per public share held in the trust account as of the date of the liquidation of the trust account, if less than $10.00 per public share due to reductions in the value of the trust assets, net of taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the trust account (whether or not such waiver is enforceable) nor will it apply to any claims under our indemnity of the underwriter of this offering against certain liabilities, including liabilities under the Securities Act. However, we have not asked our sponsor to reserve for such indemnification obligations, nor have we independently verified whether our sponsor has sufficient funds to satisfy its indemnity obligations and we believe that our sponsor's only assets are securities of our company. Therefore, we cannot assure you that our sponsor would be able to satisfy those obligations. As a result, if any such claims were successfully made against the trust account, the funds available for our initial business combination and redemptions could be reduced to less than $10.00 per public share. In such event, we may not be able to complete our initial business combination, and you would receive such lesser amount per share in connection with any redemption of your public shares. None of our officers or directors will indemnify us for claims by third parties including, without limitation, claims by vendors and prospective target businesses.

***Our directors may decide not to enforce the indemnification obligations of our sponsor, resulting in a reduction in the amount of funds in the trust account available for distribution to our public shareholders.***

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In the event that the proceeds in the trust account are reduced below the lesser of (i) $10.00 per public share and (ii) the actual amount per public share held in the trust account as of the date of the liquidation of the trust account if less than $10.00 per public share due to reductions in the value of the trust assets, in each case net of taxes payable, and our sponsor asserts that it is unable to satisfy his obligations or that he has no indemnification obligations related to a particular claim, our independent directors would determine whether to take legal action against our sponsor to enforce its indemnification obligations. While we currently expect that our independent directors would take legal action on our behalf against our sponsor to enforce its indemnification obligations to us, it is possible that our independent directors in exercising their business judgment and subject to their fiduciary duties may choose not to do so in any particular instance if, for example, the cost of such legal action is deemed by the independent directors to be too high relative to the amount recoverable or if the independent directors determine that a favorable outcome is not likely. If our independent directors choose not to enforce these indemnification obligations, the amount of funds in the trust account available for distribution to our public shareholders may be reduced below $10.00 per public share.

***We may not have sufficient funds to satisfy indemnification claims of our directors and officers.***

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Under our post-offering memorandum and articles of association, subject to certain limitations, we [have agreed] to indemnify our officers and directors to the fullest extent permitted by law, as it now exists or may in the future be amended, including for any liability incurred in their capacities as such, except through their own actual fraud, willful default or willful neglect. However, our officers and directors have agreed to waive any right, title, interest or claim of any kind in or to any monies in the trust account and to not seek recourse against the trust account for any reason whatsoever. Accordingly, any indemnification provided will be able to be satisfied by us only if (i) we have sufficient funds outside of the trust account or (ii) we consummate an initial business combination. Our obligation to indemnify our officers and directors may discourage shareholders from bringing a lawsuit against our officers or directors for breach of their fiduciary duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against our officers and directors, even though such an action, if successful, might otherwise benefit us and our shareholders. Furthermore, a shareholder's investment may be adversely affected to the extent we pay the costs of settlement and damage awards against our officers and directors pursuant to these indemnification provisions.

***If, after we distribute the proceeds in the trust account to our public shareholders, we file a bankruptcy, winding-up or insolvency petition or an involuntary bankruptcy, winding-up or insolvency petition is filed against us that is not dismissed, a bankruptcy or insolvency court may seek to recover such proceeds, and the members of our board of directors may be viewed as having breached their fiduciary duties to our creditors, thereby exposing the members of our board of directors and us to claims of punitive damages.***

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If, after we distribute the proceeds in the trust account to our public shareholders, we file a bankruptcy, winding-up or insolvency petition or an involuntary bankruptcy, winding-up or insolvency petition is filed against us that is not dismissed, any distributions received by shareholders could be viewed under applicable debtor/creditor and/or bankruptcy/insolvency laws as either a "preferential transfer" or a "fraudulent conveyance, preference or disposition." As a result, a liquidator or a bankruptcy, insolvency or other court could seek to recover some or all amounts received by our shareholders. In addition, our board of directors may be viewed as having breached its fiduciary duty to us or our creditors and/or having acted in bad faith, thereby exposing itself and us to claims of punitive damages, by paying public shareholders from the trust account prior to addressing the claims of creditors.

***If, before distributing the proceeds in the trust account to our public shareholders, we file a bankruptcy, winding-up or insolvency petition or an involuntary bankruptcy, winding-up or insolvency petition is filed against us that is not dismissed, the claims of creditors in such proceeding may have priority over the claims of our shareholders and the per-share amount that would otherwise be received by our shareholders in connection with our liquidation may be reduced.***

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If, before distributing the proceeds in the trust account to our public shareholders, we file a bankruptcy, winding-up or insolvency petition or an involuntary bankruptcy, winding-up or insolvency petition is filed against us that is not dismissed, the proceeds held in the trust account could be subject to applicable bankruptcy or insolvency law, and may be included in our bankruptcy or insolvency estate and subject to the claims of third parties with priority over the claims of our shareholders. To the extent any bankruptcy or insolvency claims deplete the trust account, the per-share amount that would otherwise be received by our shareholders in connection with our liquidation may be reduced.

***Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, including our ability to negotiate and complete our initial business combination, and results of operations.***

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We are subject to laws and regulations enacted by national, regional and local governments. In particular, we will be required to comply with certain SEC and other legal requirements and numerous complex tax laws. Compliance with, and monitoring of, applicable laws and regulations may be difficult, time consuming and costly. Those laws and regulations and their interpretation and application may also change from time to time and those changes could have a material adverse effect on our business, investments and results of operations. In addition, a failure to comply with applicable laws or regulations, as interpreted and applied, could have a material adverse effect on our business, including our ability to negotiate and complete our initial business combination, and results of operations.

On January 24, 2024, the SEC adopted a series of new rules relating to SPACs (the "SPAC Rules") requiring, among other items, (i) additional disclosures relating to SPAC business combination transactions; (ii) additional disclosures relating to dilution and to conflicts of interest involving sponsors and their affiliates in both SPAC initial public offerings and de-SPAC transactions; (iii) the use of projections by SPACs in SEC filings in connection with proposed business combination transactions; and (iv) both the SPAC and the target company's status as co-registrants on de-SPAC registration statements.

In addition, the SEC's adopting release provided guidance describing circumstances in which a SPAC could become subject to regulation under the Investment Company Act, including its duration, asset composition, business purpose, and the activities of the SPAC and its management team in furtherance of such goals.

Compliance with the SPAC Rules and related guidance may increase the costs of and the time needed to negotiate and complete an initial business combination and may constrain the circumstances under which we could complete an initial business combination.

***If we are deemed to be an investment company under the Investment Company Act, we may be required to institute burdensome compliance requirements and our activities may be restricted, which may make it difficult for us to complete our initial business combination.***

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As described in the risk factor above titled "*Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, including our ability to negotiate and complete our initial business combination, and results of operations,"* the adopting release by the SEC with respect to the SPAC Rules provided guidance describing the extent to which SPACs could become subject to regulation under the Investment Company Act and the regulations thereunder. Whether a SPAC is an investment company will be a question of facts and circumstances. If our facts and circumstances change over time, we will update our disclosure to reflect how those changes impact the risk that we may be considered to be operating as an unregistered investment company. We can give no assurance that a claim will not be made that we have been operating as an unregistered investment company.

If we are deemed to be an investment company under the Investment Company Act, we may have to change our operations, wind down our operations, or register as an investment company under the Investment Company Act. Our activities may be restricted, including:

● restrictions on the nature of our investments; and

● restrictions on the issuance of securities, each of which may make it difficult for us to complete our initial business combination.

In addition, we may have imposed upon us burdensome requirements, including:

● registration as an investment company;

● adoption of a specific form of corporate structure; and

● reporting, record keeping, voting, proxy and disclosure requirements and other rules and regulations.

In order not to be regulated as an investment company under the Investment Company Act, unless we can qualify for an exclusion, we must ensure that we are engaged primarily in a business other than investing, reinvesting or trading in securities and that our activities do not include investing, reinvesting, owning, holding or trading "investment securities" constituting more than 40% of our total assets (exclusive of U.S. government securities and cash items) on an unconsolidated basis. We are mindful of the SEC's investment company definition and guidance and intend to identify and complete an initial business combination with an operating business, and not with an investment company, or to acquire minority interests in other businesses exceeding the permitted threshold.

The funds in our operating account and our trust account will initially be held in banks or other financial institutions and will be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended business combination. By restricting the investment of the proceeds to these instruments, and by having a business plan targeted at acquiring and growing businesses for the long term (rather than on buying and selling businesses in the manner of a merchant bank or private equity fund), we intend to avoid being deemed an "investment company" within the meaning of the Investment Company Act. This offering is not intended for persons who are seeking a return on investments in government securities or investment securities. The trust account is intended as a holding place for funds pending the earliest to occur of: (i) the completion of our primary business objective, which is a business combination; (ii) the redemption of any public shares properly submitted in connection with a shareholder vote to amend our then existing certificate of incorporation to modify (A) the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 15 months from the consummation of this offering or during any extension period or (B) with respect to any other provision relating to shareholders' rights or pre-initial business combination activity; or (iii) absent a business combination, our return of the funds held in the trust account to our public shareholders as part of our redemption of the public shares. Despite our efforts not to be regulated as an investment company under the Investment Company Act as discussed above, we may nevertheless be deemed to be subject to the Investment Company Act. If we were deemed to be subject to the Investment Company Act, compliance with these additional regulatory burdens would require additional expenses for which we have not allotted funds and may hinder our ability to complete a business combination.

We are aware of litigation claiming that certain SPACs should be considered to be investment companies. Although we believe that these claims were without merit, we cannot guarantee that we will not be deemed to be an investment company and thus subject to the Investment Company Act. If we were deemed to be subject to the Investment Company Act, compliance with these additional regulatory burdens would require additional expenses for which we have not allotted funds and may hinder our ability to complete an initial business combination or may result in our winding down our operations and our liquidation. If we are unable to complete our initial business combination, our public shareholders may receive only approximately $10.00 per share on the liquidation of our trust account and our rights will expire worthless, and our public shareholders would also lose the possibility of an investment opportunity in a target company as well as any potential price appreciation in the combined company following a business combination. by the Federal Deposit Insurance Corporation ("FDIC"). While we intend to place our deposits in high-quality banks, only a small portion of the funds in our trust account will be guaranteed by the FDIC.

***Our search for an initial business combination, and any target business with which we may ultimately consummate an initial business combination, may be materially adversely affected by current global geopolitical conditions resulting from the ongoing Russia-Ukraine conflict and the recent escalation of the conflict in the Middle East and Southwest Asia.***

United States and global markets are experiencing volatility and disruption following the geopolitical instability resulting from the ongoing Russia-Ukraine conflict and the conflict in the Middle East. In response to the ongoing Russia-Ukraine conflict, the North Atlantic Treaty Organization ("NATO") deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European Union and other countries have announced various sanctions and restrictive actions against Russia, Belarus and related individuals and entities, including the removal of certain financial institutions from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment system. Certain countries, including the United States, have also provided and may continue to provide military aid or other assistance to Ukraine and to Israel, increasing geopolitical tensions among a number of nations. The escalation of the geopolitical conflict and the resulting measures that have been taken, and could be taken in the future, by NATO, the United States, the United Kingdom, the European Union and its neighboring states and other countries have created global security concerns that could have a lasting impact on regional and global economies. Although the length and impact of the ongoing conflicts are highly unpredictable, they could lead to market disruptions, including significant volatility in commodity prices, credit and capital markets, as well as supply chain interruptions and increased cyber-attacks against U.S. companies. Additionally, any resulting sanctions could adversely affect the global economy and financial markets and lead to instability and lack of liquidity in capital markets.

Any of the abovementioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine, the conflict in the Middle East and Southwest Asia and subsequent sanctions or related actions, could adversely affect our search for an initial business combination and any target business with which we may ultimately consummate an initial business combination.

The extent and duration of the ongoing conflicts, resulting sanctions and any related market disruptions are impossible to predict, but could be substantial, particularly if current or new sanctions continue for an extended period of time or if geopolitical tensions result in expanded military operations on a global scale. Any such disruptions may also have the effect of heightening many of the other risks described in this section. If these disruptions or other matters of global concern continue for an extensive period of time, our ability to consummate an initial business combination, or the operations of a target business with which we may ultimately consummate an initial business combination, may be materially adversely affected.

***If we are unable to consummate our initial business combination within the completion window, our public shareholders may be forced to wait beyond 15 months before redemption from our trust account.***

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If we are unable to consummate our initial business combination within the completion window (as it may be extended), the proceeds then on deposit in the trust account, including interest earned on the funds held in the trust account (net of taxes payable and less up to $100,000 of interest to pay liquidation and dissolution expenses), will be used to fund the redemption of our public shares, as further described herein. Any redemption of public shareholders from the trust account will be effected automatically by function of our post-offering memorandum and articles of association prior to any voluntary winding up. If we are required to wind-up, liquidate the trust account and distribute such amount therein, pro rata, to our public shareholders, as part of any liquidation process, such winding up, liquidation and distribution must comply with the applicable provisions of the Companies Act. In that case, investors may be forced to wait beyond the end of the completion window before the redemption proceeds of our trust account become available to them, and they receive the return of their pro rata portion of the proceeds from our trust account. We have no obligation to return funds to investors prior to the date of our redemption or liquidation unless we consummate our initial business combination prior thereto and only then in cases where investors have sought to redeem their Class A ordinary shares. Only upon our redemption or any liquidation will public shareholders be entitled to distributions if we are unable to complete our initial business combination.

***Our shareholders may be held liable for claims by third parties against us to the extent of distributions received by them upon redemption of their shares.***

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If we are forced to enter into an insolvent liquidation, any distributions received by shareholders could be viewed as an unlawful payment if it was proved that immediately following the date on which the distribution was made, we were unable to pay our debts as they fall due in the ordinary course of business. As a result, a liquidator could seek to recover some or all amounts received by our shareholders. Furthermore, our directors may be viewed as having breached their fiduciary duties to us or our creditors and/or may have acted in bad faith, thereby exposing themselves and our company to claims, by paying public shareholders from the trust account prior to addressing the claims of creditors. We cannot assure you that claims will not be brought against us for these reasons. We and our directors and officers who knowingly and willfully authorized or permitted any distribution to be paid out of our share premium account while we were unable to pay our debts as they fall due in the ordinary course of business would be guilty of an offence and may be liable to fine and to imprisonment in the Cayman Islands.

***We may not hold an annual general meeting until after the consummation of our initial business combination, which could delay the opportunity for our public shareholders to discuss company affairs with management, and the holders of our Class A ordinary shares will not have the right to vote on the appointment or removal of directors or continuing the company in a jurisdiction outside the Cayman Islands until after the consummation of our initial business combination.***

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In accordance with Nasdaq corporate governance requirements, we are not required to hold an annual general meeting until no later than one year after our first fiscal year end following our listing on the Nasdaq. There is no requirement under the Companies Act for us to hold annual or extraordinary general meetings to appoint directors. Until we hold an annual general meeting, public shareholders may not be afforded the opportunity to discuss company affairs with management. Until we hold an annual meeting of shareholders, public shareholders may not be afforded the opportunity to discuss company affairs with management. In addition, as holders of our Class A ordinary shares, our public shareholders will not have the right to vote on the election of directors prior to consummation of our initial business combination.

***Because we are neither limited to evaluating a target business in a particular industry sector nor have we selected any target businesses with which to pursue our initial business combination, you will be unable to ascertain the merits or risks of any particular target business's operations.***

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Our efforts to identify a prospective initial business combination target will not be limited to a particular industry, sector or geographic region. While we may pursue an initial business combination opportunity in any industry or sector, we intend to capitalize on the ability of our management team to identify and acquire a business or businesses that can benefit from our management team's established global relationships and operating experience. Our management team has extensive experience in identifying and executing strategic investments globally and has done so successfully in a number of sectors. Our post-offering memorandum and articles of association prohibits us from effectuating a business combination solely with another blank check company or similar company with nominal operations.

Because we have not yet selected any specific target business with respect to a business combination, there is no basis to evaluate the possible merits or risks of any particular target business's operations, results of operations, cash flows, liquidity, financial condition or prospects. To the extent we complete our initial business combination, we may be affected by numerous risks inherent in the business operations with which we combine. For example, if we combine with a financially and/or operationally unstable business or an entity lacking an established record of sales or earnings, we may be affected by the risks inherent in the business and operations of a financially and/or operationally unstable or a development stage entity, which may necessitate significant effort to improve or turn around such company's financial and/or operational performance and future viability. In recent years, a number of target businesses have underperformed financially post-business combination. There are no assurances that the target business with which we consummate our initial business combination will perform as anticipated. Although our officers and directors will endeavor to evaluate the risks inherent in a particular target business, we cannot assure you that we will properly ascertain or assess all of the significant risk factors or that we will have adequate time to complete due diligence. Furthermore, some of these risks may be outside of our control and leave us with no ability to control or reduce the chances that those risks will adversely impact a target business. We also cannot assure you that an investment in our units will ultimately prove to be more favorable to investors than a direct investment, if such opportunity were available, in a business combination target. Accordingly, any shareholders who choose to remain shareholders following the business combination could suffer a reduction in the value of their securities. Such shareholders are unlikely to have a remedy for such reduction in value unless they are able to successfully claim that the reduction was due to the breach by our officers or directors of a duty of care or other fiduciary duty owed to them, or if they are able to successfully bring a private claim under securities laws that the proxy solicitation or tender offer materials, as applicable, relating to the business combination contained an actionable material misstatement or material omission.

***We may seek business combination opportunities in industries or sectors that may be outside of our management's areas of expertise.***

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We will consider a business combination outside of our management's areas of expertise if a business combination candidate is presented to us and we determine that such candidate offers an attractive business combination opportunity for our company. Although our management will endeavor to evaluate the risks inherent in any particular business combination candidate, we cannot assure you that we will adequately ascertain or assess all of the significant risk factors. We also cannot assure you that an investment in our units will not ultimately prove to be less favorable to investors in this offering than a direct investment, if an opportunity were available, in a business combination candidate. In the event we elect to pursue a business combination outside of the areas of our management's expertise, our management's expertise may not be directly applicable to its evaluation or operation, and the information contained in this prospectus regarding the areas of our management's expertise would not be relevant to an understanding of the business that we elect to acquire. As a result, our management may not be able to ascertain or assess adequately all of the relevant risk factors. Accordingly, any shareholders who choose to remain shareholders following our initial business combination could suffer a reduction in the value of their shares. Such shareholders are unlikely to have a remedy for such reduction in value.

***Although we have identified general criteria and guidelines that we believe are important in evaluating prospective target businesses, we may enter into our initial business combination with a target that does not meet such criteria and guidelines, and as a result, the target business with which we enter into our initial business combination may not have attributes entirely consistent with our general criteria and guidelines*.**

Although we have identified general criteria and guidelines for evaluating prospective target businesses, it is possible that a target business with which we enter into our initial business combination will not have all of these positive attributes. If we complete our initial business combination with a target that does not meet some or all of these guidelines, such combination may not be as successful as a combination with a business that does meet all of our general criteria and guidelines. In addition, if we announce a prospective business combination with a target that does not meet our general criteria and guidelines, a greater number of shareholders may exercise their redemption rights, which may make it difficult for us to meet any closing condition with a target business that requires us to have a minimum net worth or a certain amount of cash. In addition, if shareholder approval of the transaction is required by law, or we decide to obtain shareholder approval for business or other reasons, it may be more difficult for us to attain shareholder approval of our initial business combination if the target business does not meet our general criteria and guidelines. If we are unable to complete our initial business combination, our public shareholders may only receive their pro rata portion of the funds in the trust account that are available for distribution to public shareholders, and our rights will expire worthless.

***We are not required to obtain an opinion from an independent investment banking firm or from another independent entity that commonly renders valuation opinions, and consequently, you may have no assurance from an independent source that the price we are paying for the business is fair to the company from a financial point of view*.**

Unless our board of directors cannot independently determine the fair market value of the target business, we will not obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions that the price we are paying is fair to the company from a financial point of view. If no opinion is obtained, our shareholders will be relying on the judgment of our board of directors, who will determine fair market value based on standards generally accepted by the financial community. Such standards used will be disclosed in our proxy materials or tender offer documents, as applicable, related to our initial business combination.

***We may issue additional Class A ordinary shares or preference shares to complete our initial business combination or under an employee incentive plan after completion of our initial business combination. We may also issue Class A ordinary shares upon the conversion of the founder shares at a ratio greater than one-to-one at the time of our initial business combination as a result of the anti-dilution provisions contained therein. Any such issuances would dilute the interest of our shareholders and likely present other risks.***

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Our amended and restated memorandum and articles of association authorizes the issuance of up to 60,000,000 Class A ordinary shares par value $0.0001 each, 6,000,000 Class B ordinary shares par value $0.0001 each and 600,000 preference shares of a par value of US$0.0001 each. Immediately after this offering, there will be 6,511,000 and 2,571,429 (assuming the underwriter does not exercise its over-allotment option and the forfeiture of 385,714 Class B ordinary shares by the Sponsor, and excluding shares issuable upon the conversion of public rights and private rights) issued and outstanding Class A ordinary shares and Class B ordinary shares, respectively. The Class B ordinary shares are automatically convertible into Class A ordinary shares (which such Class A ordinary shares delivered upon conversion will not have any redemption rights or be entitled to liquidating distributions from the trust account if we fail to consummate an initial business combination) in connection with the consummation of our initial business combination or earlier at the option of the holder, initially at a one-for-one ratio but subject to adjustment as set forth herein and in our post-offering memorandum and articles of association, including in certain circumstances in which we issue Class A ordinary shares or equity-linked securities related to our initial business combination. Immediately after this offering, there will be no preference shares issued and outstanding.

We may issue a substantial number of additional ordinary shares to complete our initial business combination or under an employee incentive plan after completion of our initial business combination. We may also issue Class A ordinary shares upon conversion of the Class B ordinary shares at the time of our initial business combination as a result of the anti-dilution provisions as set forth therein. The anti-dilution provisions of the founder shares result in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion of the founder shares at the time of our initial business combination. In addition, because of the anti-dilution protection in the founder shares, any equity or equity-linked securities issued in connection with our initial business combination would be disproportionately dilutive to our Class A ordinary shares. However, our post-offering memorandum and articles of association provide, among other things, that prior to our initial business combination, except in connection with the conversion of Class B ordinary shares into Class A ordinary shares where the holders of such shares have waived any rights to receive funds from the trust account, we may not issue additional shares that would entitle the holders thereof to (i) receive funds from the trust account or (ii) vote as a class with public shares on any initial business combination. These provisions of our post-offering memorandum and articles of association, like all provisions of our post-offering memorandum and articles of association, may be amended with a shareholder vote. In addition, in order to finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required. Up to $1,500,000 of such loans may be convertible into private units at a price of $10.00 per unit at the option of the lender upon the consummation of the initial business combination. The issuance of additional ordinary share may significantly dilute the equity interest of investors in this offering, which dilution would increase if the anti-dilution provisions in the Class B ordinary shares resulted in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion of the Class B ordinary shares, and may adversely affect prevailing market prices for our units, Class A ordinary shares and/or rights.

***We may issue our shares to investors in connection with our initial business combination at a price which is less than the prevailing market price of our shares at that time*.**

In connection with our initial business combination, we may issue shares to investors in private placement transactions (so-called PIPE transactions) at a price of $10.00 per share or lower, at a price that approximates the per-share amounts in our trust account at such time. The purpose of such issuances will be to enable us to provide sufficient liquidity and capital to the post-business combination entity. The price of the shares we issue may therefore be less, and potentially significantly less, than the market price for our shares at such time. Any such issuances of equity securities could dilute the interests of our existing shareholders.

***Since only holders of our Class B ordinary shares will have the right to vote on the appointment and removal of directors, upon the listing of our shares on the Nasdaq, the Nasdaq may consider us to be a "controlled company" within the meaning of Nasdaq rules and, as a result, we may qualify for exemptions from certain corporate governance requirements.***

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After completion of this offering and prior to the consummation of a business combination, only holders of our Class B ordinary shares will have the right to vote on the appointment and removal of directors. As a result, the Nasdaq will consider us to be a "controlled company" within the meaning of the Nasdaq corporate governance standards. Under the Nasdaq corporate governance standards, a company of which more than 50% of the voting power for the appointment of directors is held by an individual, group or another company is a "controlled company" and may elect not to comply with certain corporate governance requirements, including the requirements that:

● we have a board that includes a majority of "independent directors," as defined under the rules of the Nasdaq; and

● we have a compensation committee or nominating and corporate governance committee of our board.

We do not intend to utilize these exemptions and intend to comply with the corporate governance requirements of the Nasdaq, subject to applicable phase-in rules. However, if we determine in the future to utilize some or all of these exemptions, you will not have the same protections afforded to shareholders of companies that are subject to all of the Nasdaq corporate governance requirements.

***Resources could be wasted in researching business combinations that are not completed, which could materially adversely affect subsequent attempts to locate and acquire or merge with another business. If we are unable to complete our initial business combination, our public shareholders may only receive their pro rata portion of the funds in the trust account that are available for distribution to public shareholders, and our rights will expire worthless*.**

We anticipate that the investigation of each specific target business and the negotiation, drafting and execution of relevant agreements, disclosure documents and other instruments will require substantial management time and attention and substantial costs for accountants, attorneys, consultants and others. If we decide not to complete a specific initial business combination, the costs incurred up to that point for the proposed transaction likely would not be recoverable. Furthermore, if we reach an agreement relating to a specific target business, we may fail to complete our initial business combination for any number of reasons including those beyond our control. Any such event will result in a loss to us of the related costs incurred which could materially adversely affect subsequent attempts to locate and acquire or merge with another business. If we are unable to complete our initial business combination, our public shareholders may only receive their pro rata portion of the funds in the trust account that are available for distribution to public shareholders, and our rights will expire worthless.

***We may engage in a business combination with one or more target businesses that have relationships with entities that may be affiliated with our sponsor, officers, directors or existing holders which may raise potential conflicts of interest.***

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In light of the involvement of our sponsor, its sole director, and our officers and directors with other entities, we may decide to acquire one or more businesses affiliated with or competitive with our sponsor, officers, directors and their respective affiliates or existing holders. Our directors also serve as officers and/or board members for other entities, including, without limitation, those described under "*Management — Conflicts of Interest*." Such entities may compete with us for business combination opportunities. Our sponsor, officers and directors are not currently aware of any specific opportunities for us to complete our initial business combination with any entities with which they are affiliated, and there have been no substantive discussions concerning a business combination with any such entity or entities. Although we will not be specifically focusing on, or targeting, any transaction with any affiliated entities, we may eventually pursue such a transaction if we determined that such affiliated entity met our criteria for a business combination. Despite that we may obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions regarding the fairness to our company from a financial point of view of a business combination with business affiliated with our sponsor, officers, directors or existing holders, potential conflicts of interest still may exist and, as a result, the terms of the business combination may not be as advantageous to our public shareholders as they would be absent any conflicts of interest.

***Since our sponsor, officers and directors, and any other holder of our founder shares may lose their entire investment in us if our initial business combination is not completed (other than with respect to public shares they may acquire during or after this offering), a conflict of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination*.**

On July 28, 2025, we entered into a share subscription agreement with our sponsor for the subscription of 2,957,143 Class B ordinary shares, par value $0.0001 each, for a purchase price of $25,000. On August 8, 2025, we adopted our amended and restated memorandum and articles of association which reflects, among others, the capital re-designation, following which such Class B ordinary shares were issued.

Prior to the initial investment in the company of $25,000 by the sponsor, the company had no assets, tangible or intangible. The purchase price of the founder shares was determined by dividing the amount of cash contributed to the company by the number of founder shares issued. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of 6,900,000 units if the underwriter's over-allotment option is exercised in full, and therefore that such founder shares would represent 30% of the outstanding shares after this offering (excluding private shares, Representative Shares and A.G.P. Shares). Up to 385,714 of the founder shares will be surrendered for no consideration depending on the extent to which the underwriter's over-allotment is exercised. The founder shares will be worthless if we do not complete an initial business combination, except to the extent they receive liquidating distributions from assets outside of the trust account. In addition, our sponsor has committed to purchase an aggregate of 234,600 private units (including if the underwriter's over-allotment option is exercised), at a price of $10.00 per unit, or $2,346,000 in the aggregate (including if the underwriter's over-allotment option is exercised), in a private placement that will close simultaneously with the closing of this offering. The private units will be worthless if we do not complete our initial business combination. The personal and financial interests of our officers and directors may influence their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing the operation of the business following the initial business combination. This risk may become more acute as the end of the completion window nears, which is the deadline for our completion of an initial business combination.

***The ownership interest of our sponsor may change, and our sponsor may divest its ownership interest in us before identifying a business combination, which could deprive us of key personnel*.**

Our co-founder, Dr. Bo Yan, who is our chairman of the board of directors and chief executive officer, owns 100% of the sponsor shares, is the sole member and sole director of our sponsor and controls the management of our sponsor, including the exercise of voting and investment discretion over the securities of our company held by our sponsor. Pursuant to a letter agreement among us, each of our sponsor, directors and officers [has agreed] to restrictions on its ability to transfer, assign, or sell the founder shares and private units. Consequently, unless the sponsor transfers founder shares pursuant to exceptions to the transfer restrictions under the letter agreement, the founder shares will continue to be owned by the sponsor until the expiration of the transfer restrictions following the consummation of our initial business combination. Our sponsor generally prohibits transfers of shares without the consent of the sponsor's governing body. As the sole member and sole director of our sponsor, Dr. Bo Yan may consent to transfers of shares. As a result, there is a risk that our sponsor may divest its (or his or our officers' and directors') ownership or economic interests in us or in the sponsor before a business combination target is identified, which would likely result in the company's loss of certain key personnel. Additionally, there can be no assurance that any replacement sponsor or key personnel will successfully identify a business combination target for us, or, even if one is so identified, successfully complete such business combination.

***We may issue notes or other debt securities, or otherwise incur substantial debt, to complete a business combination, which may adversely affect our leverage and financial condition and thus negatively impact the value of our shareholders' investment in us*.**

Although we have no commitments as of the date of this prospectus to issue any notes or other debt securities, or to otherwise incur outstanding debt following this offering, we may choose to incur substantial debt to complete our initial business combination. The incurrence of debt could have a variety of negative effects, including:

● default and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt obligations;

● acceleration of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;

● our immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand;

● our inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such financing while the debt security is outstanding;

● using a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for expenses, capital expenditures, acquisitions and other general corporate purposes;

● limitations on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate;

● increased vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation; and

● limitations on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution of our strategy and other purposes and other disadvantages compared to our competitors who have less debt.

***We may attempt to simultaneously complete business combinations with multiple prospective targets, which may hinder our ability to complete our initial business combination and give rise to increased costs and risks that could negatively impact our operations and profitability*.**

If we determine to simultaneously acquire several businesses that are owned by different sellers, we will need for each of such sellers to agree that our purchase of its business is contingent on the simultaneous closings of the other business combinations, which may make it more difficult for us, and delay our ability, to complete our initial business combination. With multiple business combinations, we could also face additional risks, including additional burdens and costs with respect to possible multiple negotiations and due diligence investigations (if there are multiple sellers) and the additional risks associated with the subsequent assimilation of the operations and services or products of the acquired companies in a single operating business. If we are unable to adequately address these risks, it could negatively impact our profitability and results of operations.

***We may attempt to complete our initial business combination with a private company about which little information is available, which may result in a business combination with a company that is not as profitable as we suspected, if at all*.**

In pursuing our business combination strategy, we may seek to effectuate our initial business combination with a privately held company. Very little public information generally exists about private companies, and we could be required to make our decision on whether to pursue a potential initial business combination on the basis of limited information, which may result in a business combination with a company that is not as profitable as we suspected, if at all.

***The ability of a large number of our shareholders to exercise redemption rights may not allow us to consummate the most desirable business combination or optimize our capital structure.***

In connection with the successful consummation of our business combination, we may redeem up to that number of ordinary shares that would permit us to maintain net tangible assets of $5,000,001. If our business combination requires us to use substantially all of our cash to pay the purchase price, the redemption threshold may be further limited. Alternatively, we may need to additional financing to help fund our business combination in case a larger percentage of shareholders exercise their redemption rights than we expect. If the acquisition involves the issuance of our shares as consideration, we may be required to issue a higher percentage of our shares to the target or its shareholders to make up for the failure to satisfy a minimum cash requirement. Raising additional funds to cover any shortfall may involve dilutive equity financing or incurring indebtedness at higher than desirable levels. This may limit our ability to effectuate the most attractive business combination available to us.

***In order to effectuate an initial business combination, SPACs have, in the recent past, amended various provisions of their charters and other governing instruments. We cannot assure you that we will not seek to amend our post-offering memorandum and articles of association or governing instruments in a manner that will make it easier for us to complete our initial business combination that our shareholders may not support*.**

In order to effectuate a business combination, SPACs have, in the recent past, amended various provisions of their charters and governing instruments. For example, SPACs have extended the time to consummate an initial business combination. Amending our post-offering memorandum and articles of association and our rights agreement will require a special resolution under Cayman Islands law, and amending our rights agreement will require an ordinary resolution under Cayman Islands law and our post-offering memorandum and articles of association. In addition, our post-offering memorandum and articles of association requires us to provide our public shareholders with the opportunity to redeem their public shares, regardless of whether they abstain, vote for, or vote against, our initial business combination, for cash if we propose an amendment to our post-offering memorandum and articles of association (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete an initial business combination within the completion window or (B) with respect to any other material provisions relating to the rights of holders of Class A ordinary shares or pre-initial business combination activity. To the extent any of such amendments would be deemed to fundamentally change the nature of the securities offered through this registration statement, we would register, or seek an exemption from registration for, the affected securities. We cannot assure you that we will not seek to amend our charter or governing instruments or extend the time to consummate an initial business combination in order to effectuate our initial business combination.

***We may be unable to obtain additional financing to complete our initial business combination or to fund the operations and growth of a target business, which could compel us to restructure or abandon a particular business combination*.**

We have not selected any specific business combination target but may target businesses with enterprise values that are greater than we could acquire with the net proceeds of this offering and the sale of the private units. As a result, if the cash portion of the purchase price exceeds the amount available from the trust account, net of amounts needed to satisfy any redemption by public shareholders, we may be required to seek additional financing to complete such proposed initial business combination. We cannot assure you that such financing will be available on acceptable terms, if at all. To the extent that additional financing proves to be unavailable when needed to complete our initial business combination, we would be compelled to either restructure the transaction or abandon that particular business combination and seek an alternative target business candidate. Further, we may be required to obtain additional financing in connection with the closing of our initial business combination for general corporate purposes, including for maintenance or expansion of operations of the post-transaction businesses, the payment of principal or interest due on indebtedness incurred in completing our initial business combination, or to fund the purchase of other companies. If we are unable to complete our initial business combination, our public shareholders may only receive their pro rata portion of the funds in the trust account that are available for distribution to public shareholders, and our rights will expire worthless. In addition, even if we do not need additional financing to complete our initial business combination, we may require such financing to fund the operations or growth of the target business. The failure to secure additional financing could have a material adverse effect on the continued development or growth of the target business. None of our officers, directors or shareholders is required to provide any financing to us in connection with or after our initial business combination.

None of our officers, directors or shareholders is required to provide any financing to us in connection with or after our initial business combination.

***Our sponsor will control the appointment of our board of directors until consummation of our initial business combination and will hold a substantial interest in us. As a result, it will appoint and remove all of our directors prior to the consummation of our initial business combination and may exert a substantial influence on actions requiring a shareholder vote, potentially in a manner that you do not support*.**

Upon closing of this offering, our sponsor will own 30% of our issued and outstanding ordinary shares (excluding private shares, Representative Shares and A.G.P. Shares, and assuming it does not purchase any units in this offering). Accordingly, they may exert a substantial influence on actions requiring a shareholder vote, potentially in a manner that you do not support, including amendments to our memorandum and articles of association as in effect. This potential concentration of influence could be disadvantageous to other shareholders with interests different from those of our sponsor. In addition, the founder shares, all of which are held by our sponsor, will entitle the holders to vote to appoint all of our directors prior to the consummation of our initial business combination. Holders of our public shares will have no right to vote on the appointment or removal of directors during such time. Further, prior to the closing of our initial business combination, only holders of our Class B ordinary shares will be entitled to vote on continuing our company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend our constitutional documents or to adopt new constitutional documents as a result of our approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands). As a result, you may not have influence over the appointment or removal of directors prior to our initial business combination or over our continuation in a jurisdiction outside the Cayman Islands prior to our initial business combination.

If our sponsor purchases any additional securities in the aftermarket or in privately negotiated transactions, this would increase its control. Neither our sponsor nor, to our knowledge, any of our officers or directors, have any current intention to purchase additional securities, other than as disclosed in this prospectus. Factors that would be considered in making such additional purchases would include consideration of the current trading price of our securities. Until we hold an annual meeting of shareholders, public shareholders may not be afforded the opportunity to discuss company affairs with management. In addition, as holders of our Class A ordinary shares, our public shareholders will not have the right to vote on the election of directors prior to consummation of our initial business combination. Accordingly, our sponsor will continue to exert control at least until the completion of our initial business combination.

***We may not be able to complete an initial business combination because such initial business combination may be subject to regulatory review and approval requirements, including foreign investment regulations and review by government entities such as the Committee on Foreign Investment in the United States ("CFIUS"), or may be ultimately prohibited*.**

Our initial business combination may be subject to regulatory review and approval requirements by governmental entities, or ultimately prohibited. For example, CFIUS has authority to review direct or indirect foreign investments in U.S. companies. Among other things, CFIUS is empowered to require certain foreign investors to make mandatory filings, to charge filing fees related to such filings, and to self-initiate national security reviews of foreign direct and indirect investments in U.S. companies if the parties to that investment choose not to file voluntarily. In the case that CFIUS determines an investment to be a threat to national security, CFIUS has the power to unwind or place restrictions on the investment. Whether CFIUS has jurisdiction to review an acquisition or investment transaction depends on — among other factors — the nature and structure of the transaction, including the level of beneficial ownership interest and the nature of any information or governance rights involved. Immediately following the consummation of the offering, our sponsor, a BVI business company, will own approximately 30.0% of our total issued and outstanding shares (not including the shares underlying the private units, Representative Shares and A.G.P. Shares). Dr. Bo Yan, who is not a U.S person, is the sole director and the sole member of our sponsor and as such is deemed to have sole voting and investment discretion with respect to our shares held by our sponsor. Controlling or non-controlling investments in U.S. businesses that produce, design, test, manufacture, fabricate or develop one or more critical technologies in one of 27 identified industries – including aviation, defense, semiconductors, telecommunications and biotechnology – are subject to a mandatory filing with the Committee on Foreign Investment in the U.S. ("CFIUS").

If a particular proposed initial business combination with a U.S. business fall within CFIUS's jurisdiction, we may determine that we are required to make a mandatory filing or that we will submit to CFIUS review on a voluntary basis, or to proceed with the transaction without submitting to CFIUS and risk CFIUS intervention, before or after closing the transaction. CFIUS may decide to block or delay our proposed initial business combination, impose conditions with respect to such initial business combination or request the President of the United States to order us to divest all or a portion of the U.S. target business of our initial business combination that we acquired without first obtaining CFIUS approval, which may limit the attractiveness of, delay or prevent us from pursuing certain target companies that we believe would otherwise be beneficial to us and our shareholders. As a result, the pool of potential targets with which we could complete an initial business combination may be limited and we may be adversely affected in terms of competing with other special purpose acquisition companies which do not have any foreign ownership issues. In addition, certain federally licensed businesses may be subject to rules or regulations that limit foreign ownership.

The process of government review, whether by CFIUS or otherwise, could be lengthy. Because we have only a limited time to complete our initial business combination, our failure to obtain any required approvals within the requisite time period may require us to liquidate. If we are unable to consummate our initial business combination within the applicable time period required under our post-offering memorandum and articles of association, including as a result of extended regulatory review of a potential initial business combination, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter (and subject to lawfully available funds therefor), redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net of taxes, if any, and less up to $100,000 of interest to pay liquidation and dissolution expenses), divided by the number of then-outstanding public shares, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. In such event, our shareholders will miss the opportunity to benefit from an investment in a target company and the appreciation in value of such investment. Additionally, our rights would be worthless.

***Attractive targets for SPACs may become scarcer and there may be more competition for attractive targets, or such attractive targets may not be interested to consummate a business combination with a SPAC due to a negative public perception of mergers involving SPACs. This could increase the cost of our initial business combination and could even result in our inability to find a target or to consummate an initial business combination*.**

Many potential targets for SPACs have already entered into an initial business combination, and there are numerous SPACs preparing for an initial public offering, as well as many such companies currently in registration. As a result, at times, fewer attractive targets may be available to consummate an initial business combination.

In addition, because there are numerous SPACs seeking to enter into an initial business combination with available targets, the competition for available targets with attractive fundamentals or business models may increase, which could cause target companies to demand improved financial terms. Attractive deals could also become scarcer for other reasons, such as economic or industry sector downturns (including a negative public perception of mergers involving SPACs), geopolitical tensions, or increases in the cost of additional capital needed to close business combinations or operate targets post-business combination. This could increase the cost of, delay or otherwise complicate or frustrate our ability to find and consummate an initial business combination and may result in our inability to consummate an initial business combination on terms favorable to our investors or at all.

***Adverse developments affecting the financial services industry, including events or concerns involving liquidity, defaults or non-performance by financial institutions, could adversely affect our business, financial condition or results of operations, or our prospects*.**

The funds in our operating account and our trust account will initially be held in banks or other financial institutions and will be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended business combination. To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that we hold investments in the trust account, we may, at any time (based on our management team's ongoing assessment of all factors related to our potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the trust account and instead to hold the funds in the trust account in cash or in an interest-bearing demand deposit account at a bank. Our cash held in these accounts may exceed any applicable FDIC insurance limits. Should events, including limited liquidity, defaults, non-performance or other adverse developments occur with respect to the banks or other financial institutions that hold our funds, or that affect financial institutions or the financial services industry generally, or concerns or rumors about any events of these kinds or other similar risks, the value of the assets in our trust account could be impaired, which could have a material impact on our operating results, liquidity, financial condition and prospects. For example, on March 10, 2023, the FDIC announced that Silicon Valley Bank had been closed by the California Department of Financial Protection and Innovation. We cannot guarantee that the banks or other financial institutions that will hold our funds will not experience similar issues.

***Because we must furnish our shareholders with target business financial statements, we may lose the ability to complete an otherwise advantageous initial business combination with some prospective target businesses*.**

The federal proxy rules require that the proxy statement with respect to the vote on an initial business combination include historical and pro forma financial statement disclosure. We will include the same financial statement disclosure in connection with our tender offer documents, whether or not they are required under the tender offer rules. These financial statements may be required to be prepared in accordance with, or be reconciled to, accounting principles generally accepted in the United States of America ("GAAP") or international financial reporting standards as issued by the International Accounting Standards Board ("IFRS") depending on the circumstances and the historical financial statements may be required to be audited in accordance with the standards of the Public Company Accounting Oversight Board (United States) ("PCAOB"). These financial statement requirements may limit the pool of potential target businesses we may acquire because some targets may be unable to provide such financial statements in time for us to disclose such statements in accordance with federal proxy rules and complete our initial business combination within the prescribed time frame.

***Compliance obligations under the Sarbanes-Oxley Act may make it more difficult for us to effectuate our initial business combination, require substantial financial and management resources, and increase the time and costs of completing an initial business combination*.**

Section 404 of the Sarbanes-Oxley Act of 2002 requires that we evaluate and report on our system of internal controls and may require us to have such system audited by an independent registered public accounting firm. If we fail to maintain the adequacy of our internal controls, we could be subject to regulatory scrutiny, civil or criminal penalties and/or shareholder litigation. Any inability to provide reliable financial reports could harm our business. A target business may also not be in compliance with the provisions of the Sarbanes-Oxley Act regarding the adequacy of internal controls. The development of the internal controls of any such entity to achieve compliance with the Sarbanes-Oxley Act may increase the time and costs necessary to complete any such acquisition. Furthermore, any failure to implement required new or improved controls, or difficulties encountered in the implementation of adequate controls over our financial processes and reporting in the future, could harm our operating results or cause us to fail to meet our reporting obligations. Inferior internal controls could also cause investors to lose confidence in our reported financial information, which could have a negative effect on the trading price of our securities.

***Since certain of our directors and officers are based in or have significant ties to China, the Chinese government may have potential oversight and discretion over the conduct of our directors' and officers' search for a target company. The Chinese government may intervene or influence our operations at any time through our directors and officers who are based in or have significant ties to China, which could result in a material change in our search for a target business and the value of the securities we are offering. Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be adopted quickly with little advance notice and could have a significant impact upon our ability to operate.***

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Certain our directors and officers are based in or have significant ties to China, and our principal executive offices are located in China. This may subject us to certain risks relating to regulatory oversight by the PRC government and significantly limit our ability to search for candidates for our initial business combination. In particular, changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be adopted quickly with little advance notice. The Chinese government may also intervene or influence our search for a target business or the completion of an initial business combination at any time through our directors and officers who are based in or have significant ties to China. This could significantly and negatively impact our search for a target business and the value of the securities we are offering for sale.

On December 28, 2021, the Cyberspace Administration of China, or the CAC, and other twelve PRC regulatory authorities jointly revised and promulgated the Measures for Cybersecurity Review (the "Cybersecurity Review Measures"), which became effective on February 15, 2022. According to the Cybersecurity Review Measures, (i) the purchase of network products and services by critical information infrastructure operators, and the data processing activities of a network platform operator, which affect or may affect national security shall apply for a cybersecurity review, (ii) an internet platform operator who possesses personal information of more than one million users shall apply for a cybersecurity review before listing in a foreign country, and (iii) the relevant governmental authorities may initiate a cybersecurity review if they consider that the relevant network products or services or data processing activities affect or may affect national security. On February 17, 2023, the China Securities Regulatory Commission, or the CSRC, promulgated Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Enterprises, or the Trial Measures and the related guidelines, which became effective on March 31, 2023. The Trial Measures, which reformed the existing regulatory regime for overseas offering and listing of securities by PRC domestic companies and both direct and indirect overseas offering and listing of securities by PRC domestic companies, imposes a filing-based regulatory regime. According to the Trial Measures, if an issuer meets both of the following criteria, the overseas securities offering and listing conducted by such issuers shall be deemed as indirect overseas offering and listing, and filings with the CSRC pursuant to the Trial Measures' requirements shall be completed within three working days following its submission of application for an initial public offering or listing: (i) more than 50% of the issuer's operating revenue, total profit, total assets or net assets as documented in its audited consolidated financial statements for the most recent accounting year is accounted for by domestic companies; and (ii) the main parts of the issuer's business activities are conducted in China, or its main places of business are located in China, or the senior managers in charge of its business operation and majority of the issuer's management are Chinese citizens or domiciled in China.

We currently do not hold any equity interest in any PRC company nor operate any business in China. Therefore, we do not believe we are required to obtain any permission from any PRC governmental authorities, including the CSRC or CAC, to operate our company as currently conducted or to conduct this offering and offer securities to foreign investors. As of the date of this prospectus, we and our directors and officers have not applied for any permission or approvals for this offering or for our search for an initial business combination target company post offering, nor do we believe that our executive officers and directors are required to obtain such permissions or approvals from the PRC regulatory authorities to search for a target company. We have been closely monitoring regulatory developments in China regarding any necessary approvals from the CSRC or other PRC governmental authorities required for overseas listings, including this offering. As of the date of this prospectus, we have not received any inquiry, notice, warning, sanctions or regulatory objection to this offering from the CSRC or any other governmental authorities. However, there remains significant uncertainty as to the enactment, interpretation and implementation of regulatory requirements related to overseas securities offerings and other capital markets activities.

If it is determined in the future that the approval of the CSRC, the CAC or any other regulatory authority is required for this offering, we may face sanctions by the CSRC, the CAC or other PRC regulatory agencies. These agencies may take actions requiring us, or making it advisable for us, to halt this offering before settlement and delivery of our units. Consequently, if you engage in market trading or other activities in anticipation of and prior to settlement and delivery, you do so at the risk that settlement and delivery may not occur. In addition, if the CSRC, the CAC or other regulatory PRC agencies later promulgate new rules requiring that we obtain their approvals for this offering, we may be unable to obtain a waiver of such approval requirements, if and when procedures are established to obtain such a waiver. Any uncertainties or negative publicity regarding such an approval requirement could have a material adverse effect on the trading price of our securities.

 ***The M&A Rules and certain other PRC regulations establish complex procedures for certain acquisitions of Chinese companies by foreign investors, which could make it more difficult for us to pursue a business combination with a China-based business.***

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The M&A Rules adopted by six PRC regulatory agencies in 2006 and amended in 2009, and some other regulations and rules concerning mergers and acquisitions established additional procedures and requirements that could make merger and acquisition activities by foreign investors more time-consuming and complex, including requirements in some instances that the Ministry of Commerce ("MOFCOM") be notified in advance of any change-of-control transaction in which a foreign investor takes control of a PRC domestic enterprise. Moreover, the Anti-Monopoly Law requires that the anti-monopoly enforcement agency of the State Council (currently the "Anti-Monopoly Bureau of the State Administration for Market Regulation") shall be notified in advance of any concentration of undertaking if certain thresholds are triggered. In addition, the security review rules issued by the MOFCOM that became effective in September 2011 specify that mergers and acquisitions by foreign investors that raise "national defense and security" concerns and mergers and acquisitions through which foreign investors may acquire de facto control over domestic enterprises that raise "national security" concerns are subject to strict review by the MOFCOM, and the rules prohibit any activities attempting to bypass a security review, including by structuring the transaction through a proxy or contractual control arrangement. On July 1, 2015, the National Security Law of China took effect, which provided that China would establish rules and mechanisms to conduct national security review of foreign investments in China that may impact national security. On March 15, 2019, the PRC National People's Congress approved the Foreign Investment Law of China (the "Foreign Investment Law"), which came into effect on January 1, 2020, reiterates that China will establish a security review system for foreign investments. On December 19, 2020, the NDRC and the MOFCOM jointly issued the Measures for the Security Review of Foreign Investments (the "New FISR Measures"), which was made according to the National Security Law and the Foreign Investment Law and became effective on January 18, 2021. The New FISR Measures further expand the scope of national security review on foreign investment compared to the existing rules, while leaving substantial room for interpretation and speculation.

In the future, we may pursue a business combination with a China-based business. Complying with the requirements of the above-mentioned regulations and other relevant rules to complete such transactions could be time-consuming, and any required approval processes, including obtaining approval from the MOFCOM, any other relevant PRC governmental authorities or their respective local counterparts may delay or inhibit our ability to complete such transactions, which could affect our ability to expand our business or maintain our market share.

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 ***We may consummate a business combination with a target business based in and primarily operating in China, after which the PRC subsidiaries of the combined company will be subject to restrictions on dividend payments.***

We may consummate a business combination with a target business based in and primarily operating in China. After such business combination, the combined company may rely on dividends and other distributions from the PRC subsidiaries of the combined company to provide it with cash flow and to meet its other obligations. These dividends or other distributions to be paid by the PRC subsidiaries arise from the combined company's entitlements to substantially all of the economic benefits of the PRC subsidiaries. Current regulations in China would permit the combined company's PRC subsidiaries to pay dividends only out of their accumulated distributable profits, if any, determined in accordance with Chinese accounting standards and regulations. In addition, the combined company's PRC subsidiaries in China will be required to set aside at least 10% of their after-tax profits each year to fund their respective statutory reserves (up to an aggregate amount equal to half of their respective registered capital). Such cash reserve may not be distributed as cash dividends. In addition, if the combined company's PRC subsidiaries incur debt on their own behalf in the future, the instruments governing the debt may restrict their ability to pay dividends or make payments to the combined company or its PRC subsidiaries, as applicable.

**Risks Relating to the Post-Business Combination Company**

***Subsequent to our completion of our initial business combination, we may be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative effect on our financial condition, results of operations and the price of our securities, which could cause you to lose some or all of your investment*.**

Even if we conduct due diligence on a target business with which we combine, we cannot assure you that this diligence will identify all material issues that may be present within a particular target business, that it would be possible to uncover all material issues through a customary amount of due diligence, or that factors outside of the target business and outside of our control will not later arise. As a result of these factors, we may be forced to later write-down or write-off assets, restructure our operations, or incur impairment or other charges that could result in our reporting losses. Even if our due diligence successfully identifies certain risks, unexpected risks may arise and previously known risks may materialize in a manner not consistent with our preliminary risk analysis. Even though these charges may be non-cash items and not have an immediate impact on our liquidity, the fact that we report charges of this nature could contribute to negative market perceptions about us or our securities. In addition, charges of this nature may cause us to violate net worth or other covenants to which we may be subject as a result of assuming pre-existing debt held by a target business or by virtue of our obtaining debt financing to partially finance the initial business combination or thereafter. Accordingly, any shareholders who choose to remain shareholders following the business combination could suffer a reduction in the value of their securities. Such shareholders are unlikely to have a remedy for such reduction in value unless they are able to successfully claim that the reduction was due to the breach by our officers or directors of a duty of care or other fiduciary duty owed to them, or if they are able to successfully bring a private claim under securities laws that the proxy solicitation or tender offer materials, as applicable, relating to the business combination contained an actionable material misstatement or material omission.

***The officers and directors of an acquisition candidate may resign upon completion of our initial business combination. The loss of a business combination target's key personnel could negatively impact the operations and profitability of our post-combination business*.**

The role of an acquisition candidate's key personnel upon the completion of our initial business combination cannot be ascertained at this time. Although we contemplate that certain members of an acquisition candidate's management team will remain associated with the acquisition candidate following our initial business combination, it is possible that members of the management of an acquisition candidate will not wish to remain in place.

***Our management may not be able to maintain control of a target business after our initial business combination. We cannot provide assurance that, upon loss of control of a target business, new management will possess the skills, qualifications or abilities necessary to profitably operate such business*.**

We may structure our initial business combination so that the post-transaction company in which our public shareholders own shares will own less than 100% of the equity interests or assets of a target business, but we will only complete such business combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for us not to be required to register as an investment company under the Investment Company Act. We will not consider any transaction that does not meet such criteria. Even if the post-transaction company owns 50% or more of the voting securities of the target, our shareholders prior to the business combination may collectively own a minority interest in the post business combination company, depending on valuations ascribed to the target and us in the business combination. For example, we could pursue a transaction in which we issue a substantial number of new Class A ordinary shares in exchange for all of the outstanding capital stock, shares or other equity interests of a target. In this case, we would acquire a 100% interest in the target. However, as a result of the issuance of a substantial number of new Class A ordinary shares, our shareholders immediately prior to such transaction could own less than a majority of our issued and outstanding Class A ordinary shares subsequent to such transaction. In addition, other minority shareholders may subsequently combine their holdings resulting in a single person or group obtaining a larger share of the company's shares than we initially acquired. Accordingly, this may make it more likely that our management will not be able to maintain control of the target business.

***We may have a limited ability to assess the management of a prospective target business and, as a result, may effect our initial business combination with a target business whose management may not have the skills, qualifications or abilities to manage a public company*.**

When evaluating the desirability of effecting our initial business combination with a prospective target business, our ability to assess the target business's management may be limited due to a lack of time, resources or information. Our assessment of the capabilities of the target business's management, therefore, may prove to be incorrect and such management may lack the skills, qualifications or abilities we suspected. Should the target business's management not possess the skills, qualifications or abilities necessary to manage a public company, the operations and profitability of the post-combination business may be negatively impacted. Accordingly, any shareholders who choose to remain shareholders following the business combination could suffer a reduction in the value of their shares. Such shareholders are unlikely to have a remedy for such reduction in value unless they are able to successfully claim that the reduction was due to the breach by our officers or directors of a duty of care or other fiduciary duty owed to them, or if they are able to successfully bring a private claim under securities laws that the proxy solicitation or tender offer materials, as applicable, relating to the business combination contained an actionable material misstatement or material omission.

***We may seek business combination opportunities with a high degree of complexity that require significant operational improvements, which could delay or prevent us from achieving our desired results*.**

We may seek business combination opportunities with large, highly complex companies that we believe would benefit from operational improvements. While we intend to implement such improvements, to the extent that our efforts are delayed or we are unable to achieve the desired improvements, the business combination may not be as successful as we anticipate.

To the extent we complete our initial business combination with a large complex business or entity with a complex operating structure, we may also be affected by numerous risks inherent in the operations of the business with which we combine, which could delay or prevent us from implementing our strategy. Additionally, if we complete our initial business combination in a transaction with a division of a company that necessitates a significant carve-out to establish it as a stand-alone entity, such transaction would involve complex considerations and challenges, including the potential impacts on existing relationships, resources, and the overall strategic direction of the carved-out company, as well as the preparation of financial statements of the carve-out entity. Although our management team will endeavor to evaluate the risks inherent in a particular target business and its operations, we may not be able to properly ascertain or assess all of the significant risk factors until we complete our business combination. If we are not able to achieve our desired operational improvements, or the improvements take longer to implement than anticipated, we may not achieve the gains that we anticipate. Furthermore, some of these risks and complexities may be outside of our control and leave us with no ability to control or reduce the chances that those risks and complexities will adversely impact a target business. Such combination may not be as successful as a combination with a smaller, less complex organization.

***Our initial business combination and our structure thereafter may not be tax-efficient to our shareholders and right holders. As a result of our business combination, our tax obligations may be more complex, burdensome and/or uncertain*.**

Although we will attempt to structure our initial business combination in a tax-efficient manner, tax structuring considerations are complex, the relevant facts and law are uncertain and may change, and we may prioritize commercial and other considerations over tax considerations. For example, in connection with our initial business combination and subject to any requisite shareholder approval, we may: structure our business combination in a manner that requires shareholders and/or right holders to recognize gain or income for tax purposes; effect a business combination with a target company in another jurisdiction; or transfer by way of continuation to a different jurisdiction (including, but not limited to, the jurisdiction in which the target company or business is located). We do not intend to make any cash distributions to shareholders or right holders to pay taxes in connection with our business combination or thereafter. Accordingly, a shareholder or a right holder may need to satisfy any liability resulting from our initial business combination with cash from its own funds or by selling all or a portion of the shares or rights received. In addition, shareholders and right holders may also be subject to additional income, withholding or other taxes with respect to their ownership of us after our initial business combination.

In addition, we may effect a business combination with a target company that has business operations outside of the United States, and possibly, business operations in multiple jurisdictions. If we effect such a business combination, we could be subject to significant income, withholding and other tax obligations in a number of jurisdictions with respect to income, operations and subsidiaries related to those jurisdictions. Due to the complexity of tax obligations and filings in other jurisdictions, we may have a heightened risk related to audits or examinations by U.S. federal, state, local and non-U.S. taxing authorities. This additional complexity and risk could have an adverse effect on our after-tax profitability and financial condition.

**Risks Relating to Acquiring and Operating a Business in Foreign Countries**

***If we effect our initial business combination with a company located outside of the United States, we would be subject to a variety of additional risks that may adversely affect us*.**

If we pursue a target company with operations or opportunities outside of the United States for our initial business combination, we may face additional burdens in connection with investigating, agreeing to and completing such initial business combination, and if we effect such initial business combination, we would be subject to a variety of additional risks that may negatively impact our operations.

If we pursue a target a company with operations or opportunities outside of the United States for our initial business combination, we would be subject to risks associated with cross-border business combinations, including in connection with investigating, agreeing to and completing our initial business combination, conducting due diligence in a foreign jurisdiction, having such transaction approved by any local governments, regulators or agencies and changes in the purchase price based on fluctuations in foreign exchange rates.

If we effect our initial business combination with such a company, we would be subject to any special considerations or risks associated with companies operating in an international setting, including any of the following:

● costs and difficulties inherent in managing cross-border business operations;

● rules and regulations regarding currency redemption;

● complex corporate withholding taxes on individuals;

● laws governing the manner in which future business combinations may be effected;

● exchange listing and/or delisting requirements;

● tariffs and trade barriers;

● regulations related to customs and import/export matters;

● local or regional economic policies and market conditions;

● unexpected changes in regulatory requirements;

● challenges in managing and staffing international operations;

● longer payment cycles;

● tax issues, such as tax law changes and variations in tax laws as compared to the United States;

● currency fluctuations and exchange controls;

● rates of inflation;

● challenges in collecting accounts receivable;

● cultural and language differences;

● employment regulations;

● underdeveloped or unpredictable legal or regulatory systems;

● corruption;

● protection of intellectual property;

● social unrest, crime, strikes, riots and civil disturbances;

● regime changes and political upheaval;

● terrorist attacks, natural disasters, widespread health emergencies and wars; and

● deterioration of political relations with the United States.

We may not be able to adequately address these additional risks. If we were unable to do so, we may be unable to complete such initial business combination, or, if we complete such initial business combination, our operations might suffer, either of which may adversely impact our business, financial condition and results of operations.

***We may reincorporate in or transfer by way of continuation to another jurisdiction in connection with our initial business combination, and the laws of such jurisdiction may govern some or all of our future material agreements and we may not be able to enforce our legal rights*.**

In connection with our initial business combination, we may relocate the home jurisdiction of our business from the Cayman Islands to another jurisdiction. If we determine to do this, the laws of such jurisdiction may govern some or all of our future material agreements. The system of laws and the enforcement of existing laws in such jurisdiction may not be as certain in implementation and interpretation as in the United States. The inability to enforce or obtain a remedy under any of our future agreements could result in a significant loss of business, business opportunities or capital.

***We are subject to changing law and regulations regarding regulatory matters, corporate governance and public disclosure that have increased both our costs and the risk of non-compliance*.**

We are subject to rules and regulations by various governing bodies, including, for example, the SEC, which are charged with the protection of investors and the oversight of companies whose securities are publicly traded, and to new and evolving regulatory measures under applicable law. Our efforts to comply with new and changing laws and regulations have resulted in and are likely to continue to result in, increased general and administrative expenses and a diversion of management time and attention from revenue-generating activities to compliance activities.

Moreover, because these laws, regulations and standards are subject to varying interpretations, their application in practice may evolve over time as new guidance becomes available. This evolution may result in continuing uncertainty regarding compliance matters and additional costs necessitated by ongoing revisions to our disclosure and governance practices. If we fail to address and comply with these regulations and any subsequent changes, we may be subject to penalty and our business may be harmed.

***If our management following our initial business combination is unfamiliar with United States securities laws, they may have to expend time and resources becoming familiar with such laws, which could lead to various regulatory issues*.**

Following our initial business combination, our management may resign from their positions as officers or directors of the company and the management of the target business at the time of the business combination will remain in place. Management of the target business may not be familiar with United States securities laws. If new management is unfamiliar with United States securities laws, they may have to expend time and resources becoming familiar with such laws. This could be expensive and time-consuming and could lead to various regulatory issues which may adversely affect our operations.

***Exchange rate fluctuations and currency policies may cause a target business' ability to succeed in the international markets to be diminished*.**

In the event we acquire a non-U.S. target, all revenues and income would likely be received in a foreign currency, and the dollar equivalent of our net assets and distributions, if any, could be adversely affected by reductions in the value of the local currency. The value of the currencies in our target regions fluctuate and are affected by, among other things, changes in political and economic conditions. Any change in the relative value of such currency against our reporting currency may affect the attractiveness of any target business or, following consummation of our initial business combination, our financial condition and results of operations. Additionally, if a currency appreciates in value against the dollar prior to the consummation of our initial business combination, the cost of a target business as measured in dollars will increase, which may make it less likely that we are able to consummate such transaction.

***After our initial business combination, substantially all of our assets may be located in a foreign country and substantially all of our revenue will be derived from our operations in such country. Accordingly, our results of operations and prospects will be subject, to a significant extent, to the economic, political and legal policies, developments and conditions in the country in which we operate*.**

The economic, political and social conditions, as well as government policies, of the country in which our operations are located could affect our business. Economic growth could be uneven, both geographically and among various sectors of the economy and such growth may not be sustained in the future. If in the future such country's economy experiences a downturn or grows at a slower rate than expected, there may be less demand for spending in certain industries. A decrease in demand for spending in certain industries could materially and adversely affect our ability to find an attractive target business with which to consummate our initial business combination and if we effect our initial business combination, the ability of that target business to become profitable.

**Risks Relating to Our Management Team**

***We are dependent upon our officers and directors and their loss, or a reduction in the amount of time they can dedicate to our initial business combination, could adversely affect our ability to operate*.**

Our operations are dependent upon a relatively small group of individuals and, in particular, our officers and directors. We believe that our success depends on the continued service of our officers and directors, at least until we have completed our initial business combination. In addition, our officers and directors are not required to commit any specified amount of time to our affairs and, accordingly, will have conflicts of interest in allocating their time among various business activities, including identifying potential business combinations and monitoring the related due diligence. We do not have an employment agreement with, or key-man insurance on the life of, any of our directors or officers. The unexpected loss of the services of one or more of our directors or officers could have a detrimental effect on us.

***Our ability to successfully effect our initial business combination and to be successful thereafter will be dependent upon the efforts of our key personnel, some of whom may join us following our initial business combination. The loss of key personnel could negatively impact the operations and profitability of our post-combination business*.**

Our ability to successfully effect our initial business combination is dependent upon the efforts of our key personnel. The role of our key personnel in the target business, however, cannot presently be ascertained. Although some of our key personnel may remain with the target business in senior management or advisory positions following our initial business combination, it is likely that some or all of the management of the target business will remain in place. While we intend to closely scrutinize any individuals we engage after our initial business combination, we cannot assure you that our assessment of these individuals will prove to be correct. These individuals may be unfamiliar with the requirements of operating a company regulated by the SEC, which could cause us to have to expend time and resources helping them become familiar with such requirements.

***Our key personnel may negotiate employment or consulting agreements with a target business in connection with a particular business combination, and a particular business combination may be conditioned on the retention or resignation of such key personnel. These agreements may provide for them to receive compensation following our initial business combination and as a result, may cause them to have conflicts of interest in determining whether a particular business combination is the most advantageous*.**

Our key personnel may be able to remain with our company after the completion of our initial business combination only if they are able to negotiate employment or consulting agreements in connection with the business combination. Such negotiations would take place simultaneously with the negotiation of the business combination and could provide for such individuals to receive compensation in the form of cash payments and/or our securities for services they would render to us after the completion of the business combination. Such negotiations also could make such key personnel's retention or resignation a condition to any such agreement. The personal and financial interests of such individuals may influence their motivation in identifying and selecting a target business, subject to their fiduciary duties under Cayman Islands law.

***Our officers and directors will allocate their time to other businesses thereby causing conflicts of interest in their determination as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to complete our initial business combination*.**

Our officers and directors are not required to, and will not, commit their full time to our affairs, which may result in a conflict of interest in allocating their time between our operations and our search for a business combination and their other businesses. We do not intend to have any full-time employees prior to the completion of our initial business combination. Each of our officers is engaged in other business endeavors for which he may be entitled to substantial compensation, and our officers are not obligated to contribute any specific number of hours per week to our affairs. Our independent directors also serve as officers and board members for other entities. If our officers' and directors' other business affairs require them to devote substantial amounts of time to such affairs in excess of their current commitment levels, it could limit their ability to devote time to our affairs which may have a negative impact on our ability to complete our initial business combination. Any such companies, businesses or investments may present additional conflicts of interest in pursuing an initial business combination target. Any such potential conflicts could materially affect our ability to complete our initial business combination.

***Our officers and directors presently have, and any of them in the future may have additional, fiduciary or contractual obligations to other businesses and entities, including other blank check companies, and, accordingly, may have conflicts of interest in allocating their time and in determining to which entity a particular business opportunity should be presented*.**

Following the completion of this offering and until we consummate our initial business combination, we intend to engage in the business of identifying and combining with one or more businesses. Our sponsor, its sole director, and our officers and directors are, or may in the future become, affiliated with entities (such as operating companies or investment vehicles) that are engaged in a similar business.

We do not have employment contracts with our officers and directors that will limit their ability to work at other businesses. In addition, our sponsor, officers and directors may participate in the formation of, or become an officer or director of, any other blank check company prior to completion of our initial business combination. As a result, our sponsor, officers and directors could have conflicts of interest in determining whether to present business combination opportunities to us or to any other blank check company with which they may become involved. Our sponsor, officers and directors have complete discretion, subject to applicable fiduciary duties, as to which blank check company they choose to pursue a business combination and the order in which they pursue business combinations for any of their existing or future blank check companies. As a result, our sponsor, officers and directors may pursue business combinations for blank check companies that it has sponsored in any order, which could result in its more recent blank check companies completing business combinations prior to its blank check companies that were launched earlier. Each of our officers and directors presently has, and any of them in the future may have additional, fiduciary, contractual or other obligations or duties to one or more other entities pursuant to which such officer or director is or will be required to present a business combination opportunity to such entities. Accordingly, if any of our officers or directors becomes aware of a business combination opportunity which is suitable for an entity to which he or she has then current fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such business combination opportunity to such other entity, subject to their fiduciary duties under Cayman Islands law. Such fiduciary duties or contractual obligations of our officers or directors could materially affect our ability to complete our initial business combination.

***Our officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests*.**

We have not adopted a policy that expressly prohibits our directors, officers, security holders or affiliates from having a direct or indirect pecuniary or financial interest in any investment to be acquired or disposed of by us or in any transaction to which we are a party or have an interest. In fact, we may enter into a business combination with a target business that is affiliated with our sponsor, our directors or officers, although we do not intend to do so. Nor do we have a policy that expressly prohibits any such persons from engaging for their own account in business activities of the types conducted by us. Accordingly, such persons or entities may have a conflict between their interests and ours. Any such companies, businesses or investments may present additional conflicts of interest in pursuing an initial business combination target. Such potential conflicts could materially affect our ability to complete our initial business combination.

The personal and financial interests of our directors and officers may influence their motivation in timely identifying and selecting a target business and completing a business combination. Consequently, our directors' and officers' discretion in identifying and selecting a suitable target business may result in a conflict of interest when determining whether the terms, conditions and timing of a particular business combination are appropriate and in our shareholders' best interest. If this were the case, it would be a breach of their fiduciary duties to us as a matter of Cayman Islands law and we or our shareholders might have a claim against such individuals for infringing on our shareholders' rights. However, we might not ultimately be successful in any claim we may make against them for such reason.

***Members of our management team and board of directors have significant experience as founders, board members, officers, executives or employees of other companies. Certain of those persons have been, are currently, or may become, involved in litigation, investigations or other proceedings, including related to those companies or otherwise. This may have an adverse effect on us, which may impede our ability to consummate an initial business combination*.**

During the course of their careers, members of our management team and board of directors have had significant experience as founders, board members, officers, executives or employees of other companies. Certain of those persons have been, are currently or may in the future become involved in litigation, investigations or other proceedings, including relating to the business affairs of such companies, transactions entered into by such companies, or otherwise. Any such litigation, investigations or other proceedings may divert the attention and resources of our management team and board of directors away from identifying and selecting a target business or businesses for our initial business combination and may negatively affect our reputation, which may impede our ability to complete an initial business combination.

***Members of our management team and affiliated companies may have been, and may in the future be, involved in civil disputes or governmental investigations unrelated to our business*.**

Members of our management team have been (and intend to be) involved in a wide variety of businesses. Such involvement has, and may lead to, media coverage and public awareness. As a result, members of our management team and affiliated companies may have been, and may in the future be, involved in civil disputes or governmental investigations unrelated to our business. Any such claims or investigations may be detrimental to our reputation and could negatively affect our ability to identify and complete an initial business combination and may have an adverse effect on the price of our securities.

***Our letter agreement with our sponsor, officers and directors may be amended without shareholder approval*.**

Our letter agreement with our sponsor, officers and directors contains provisions relating to transfer restrictions of our founder shares and private units (and the securities underlying the private units), indemnification of the trust account, waiver of redemption rights and participation in liquidating distributions from the trust account. The letter agreement may be amended without shareholder approval. While we do not expect our board to approve any amendment to the letter agreement prior to our initial business combination, it may be possible that our board, in exercising its business judgment and subject to its fiduciary duties, chooses to approve one or more amendments to the letter agreement. Any such amendments to the letter agreement would not require approval from our shareholders and may have an adverse effect on the value of an investment in our securities.

***Due to the significant ties of certain of our executive officers, directors and Sponsor to the PRC, we may be a less attractive partner to non-PRC-based target companies as compared to a non-PRC based SPAC, therefore this may make it more difficult for us to complete an initial business combination with a target company that is non-PRC*.**

Certain of our executive officers and directors are located in or have significant ties to China, which may make us a less attractive partner to certain potential target businesses, including non-China-based target companies, and such perception may potentially limit or negatively impact our search for an initial business combination or may therefore make it more likely for us to consummate a business combination with a company based in or having the majority of its operations in China. Therefore, this may make it more difficult for us to complete an initial business combination with a target company within the completion window.

**Risks Relating to Our Securities**

***You will not have any rights or interests in funds from the trust account, except under certain limited circumstances. Therefore, to liquidate your investment, you may be forced to sell your public shares or rights, potentially at a loss*.**

Our public shareholders will be entitled to receive funds from the trust account only upon the earliest to occur of: (i) our completion of an initial business combination, and then only in connection with those Class A ordinary shares that such shareholder properly elected to redeem, subject to the limitations and on the conditions described herein; (ii) the redemption of any public shares properly submitted in connection with a shareholder vote to amend our post-offering memorandum and articles of association (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within the completion window or (B) with respect to any other material provisions relating to the rights of holders of Class A ordinary shares or pre-initial business combination activity; and (iii) the redemption of our public shares if we are unable to complete an initial business combination within the completion window, subject to applicable law and as further described herein. In no other circumstances will a public shareholder have any right or interest of any kind in the trust account. Holders of rights will not have any right to the proceeds held in the trust account with respect to the rights. Accordingly, to liquidate your investment, you may be forced to sell your public shares or rights, potentially at a loss.

***The Nasdaq may delist our securities from trading on its exchange, which could limit investors' ability to make transactions in our securities and subject us to additional trading restrictions*.**

We anticipate that our securities will be listed on the Nasdaq Capital Market, a national securities exchange, upon consummation of this offering. Although, after giving effect to this offering, we expect to meet on a pro forma basis the minimum initial listing standards of the Nasdaq, which generally only requires that we meet certain requirements relating to shareholders' equity, market capitalization, aggregate market value of publicly held shares and distribution requirements, we cannot assure you that our securities will continue to be listed on the Nasdaq in the future or prior to an initial business combination. Additionally, in connection with our initial business combination, it is likely that the Nasdaq will require us to file a new initial listing application and meet its initial listing requirements as opposed to its more lenient continued listing requirements. We cannot assure you that we will be able to meet those initial listing requirements at that time.

If the Nasdaq delists our securities from trading on its exchange, we could face significant material adverse consequences, including:

● a limited availability of market quotations for our securities;

● reduced liquidity with respect to our securities;

● a determination that our ordinary shares are "penny stock" which will require brokers trading in our ordinary shares to adhere to more stringent rules, possibly resulting in a reduced level of trading activity in the secondary trading market for our ordinary shares;

● a limited amount of news and analyst coverage for our company; and

● a decreased ability to issue additional securities or obtain additional financing in the future.

 ****

 ****

***Our initial shareholder paid an aggregate of $25,000, or approximately $0.008 per founder share and, accordingly, you will experience immediate and substantial dilution from the purchase of our Class A ordinary shares*.**

The difference between the public offering price per share (allocating all of the unit purchase price to the Class A ordinary share and none to the right included in the unit) and the pro forma net tangible book value per share of our Class A ordinary shares after this offering constitutes the dilution to you and the other investors in this offering. Our initial shareholder acquired the founder shares at a nominal price, significantly contributing to this dilution. Upon closing of this offering, and assuming no value is ascribed to the rights included in the units, you and the other public shareholders will incur an immediate and substantial dilution of approximately 98.4% (or $9.84 per share, assuming no exercise of the underwriter's over-allotment option, and 100% redemptions), the difference between the pro forma net tangible book value per share after this offering of $0.16 and the deemed offering price of $10.00 per unit (assuming no exercise of the underwriter's over-allotment option, and 100% redemptions). This dilution would increase to the extent that the anti-dilution provisions of the founder shares result in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion of the founder shares at the time of our initial business combination.

***The nominal purchase price paid by our sponsor for the initial shares may result in significant dilution to the implied value of your public shares upon the consummation of our initial business combination, and our sponsor is likely to make a substantial profit on its investment in us in the event we consummate an initial business combination, even if the business combination causes the trading price of our ordinary shares to materially decline.***

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We are offering our units at an offering price of $10.00 per unit, and the amount in our trust account is initially anticipated to be $10.00 per public share, implying an initial value of $10.00 per public share. However, prior to this offering, our sponsor paid a nominal aggregate purchase price of $25,000 for the initial shares, or approximately $0.008 per share. As a result, the value of your public shares may be significantly diluted upon the consummation of our initial business combination, when the initial shares are converted into public shares. The following table shows the public shareholders' and our sponsor's investment per share and how these compare to the implied value of one Class A ordinary share upon the completion of our initial business combination. The following table assumes that (i) our valuation is $60,000,000 (which is the amount we would have in the trust account for our initial business combination assuming the underwriter's over-allotment option is not exercised), (ii) no interest is earned on the funds held in the trust account, (iii) no public shares are redeemed in connection with our initial business combination and (iv) all initial shares are held by our initial shareholders upon completion of our initial business combination, and does not take into account other potential impacts on our valuation at the time of the initial business combination, such as (i) the value of our public and private units, (ii) the trading price of our Class A ordinary shares, (iii) the initial business combination transaction costs, (iv) any equity issued or cash paid to the target's sellers, (v) any equity issued to other third party investors, or (vi) the target's business itself.

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| | |
|:---|:---|
| Class A ordinary shares in public offering | 6000000 |
| Class A ordinary shares in private units | 221100 |
| Class A Representative Shares and A.G.P. Shares | 290000 |
| Class B ordinary shares | 2571429 |
| Total shares | 9082529 |
| Total funds in trust available for initial business combination | $60000000 |
| Public shareholders' and sponsor's investment per Class A ordinary share<sup>(1) (2)</sup> | $10.00 |
| Sponsor's investment per Class B ordinary share<sup>(2)</sup> | $0.008 |
| Initial implied value per public share | $10.00 |
| Implied value per public share upon consummation of initial business combination<sup>(3)</sup> | $6.61 |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) While
 the public shareholders' investment is in both the shares and the rights, for purposes of this table the full investment amount
 is ascribed to the shares only.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The
 total investment in the equity of the Company by the sponsor is $2,236,000, consisting of (i) $25,000 paid by the sponsor for the
 Class B ordinary shares, (ii) $2,211,000 paid by the sponsor for 221,100 private units for the Class A ordinary shares. For purposes
 of this table, the full investment amount is ascribed to the Class B ordinary shares only.

&nbsp;&nbsp;&nbsp;&nbsp;(3) All
 Class B ordinary shares would automatically convert into Class A ordinary shares upon completion of our initial business combination
 or earlier at the option of the holder.

Based on these assumptions, each Class A ordinary share would have an implied value of $6.61 per share upon completion of our initial business combination, representing an approximately 33.94% decrease from the initial implied value of $10.00 per public share. While the implied value of $6.61 per Class A ordinary share upon completion of our initial business combination would represent a dilution to our public shareholders, this would represent a significant increase in value for our sponsor relative to the price it paid for each Class B ordinary share. At $6.61 per Class A ordinary share, the 2,571,429 Class A ordinary shares that the sponsor would own upon completion of our initial business combination (after automatic conversion of the 2,571,429 Class B ordinary shares) would have an aggregate implied value of $18,447,695. As a result, even if the trading price of our Class A ordinary share significantly declines, the value of the Class B ordinary shares held by our sponsor will be significantly greater than the amount our sponsor paid to purchase such shares. In addition, our sponsor could potentially recoup its entire investment in our company even if the trading price of our Class A ordinary shares after the initial business combination is as low as $0.80 per share. As a result, our sponsor is likely to earn a substantial profit on its investment in us upon disposition of its Class A ordinary shares even if the trading price of our Class A ordinary shares declines after we complete our initial business combination. Our sponsor may therefore be economically incentivized to complete an initial business combination with a riskier, weaker-performing or less-established target business than would be the case if our sponsor had paid the same per share price for the Class B ordinary shares as our public shareholders paid for their public shares.

This dilution would increase to the extent that the anti-dilution provisions of the initial shares result in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion of the initial shares at the time of our initial business combination and would become exacerbated to the extent that public shareholders seek redemptions from the trust for their public shares. In addition, because of the anti-dilution protection in the initial shares, any equity or equity-linked securities issued in connection with our initial business combination would be disproportionately dilutive to our Class A ordinary shares.

***Our independent registered public accounting firm's report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a "going concern.***

As indicated in the accompanying financial statements, we had no cash and a working capital deficit of $(94,231) (excluding deferred offering costs) as of July 31, 2025. Further, we have incurred and expect to continue to incur significant costs in pursuit of our financing and acquisition plans. Management plans to address this uncertainty through this offering. Management's plans to address this need for capital through this offering are discussed in the section of this prospectus titled "*Management's Discussion and Analysis of Financial Condition and Results of Operations*." We cannot assure you that our plans to raise capital or to consummate an initial business combination will be successful. These factors, among others, raise substantial doubt about our ability to continue as a going concern. The financial statements contained elsewhere in this prospectus do not include any adjustments that might result from our inability to consummate this offering or our inability to continue as a going concern.

***Prior to this offering, there has been no market for our securities and even after the offering, a market for our securities may not develop, which would adversely affect the liquidity and price of our securities*.**

Prior to this offering, there has been no market for our securities. Shareholders therefore have not had access to information about prior market history on which to base their investment decision. Following this offering, the price of our securities may vary significantly due to one or more potential business combinations and general market or economic conditions, including as a result of geopolitical events and economic impacts such as inflation. Furthermore, an active trading market for our securities may never develop or, if developed, it may not be sustained. You may be unable to sell your securities unless a market can be established and sustained.

***Trading in our securities may be prohibited under the Holding Foreign Companies Accountable Act if the PCAOB determines that it cannot inspect or fully investigate our auditor. In that case, Nasdaq would delist our securities. The delisting of our securities, or the threat of their being delisted, may materially and adversely affect the value of your investment. Additionally, the inability of the PCAOB to conduct inspections may deprive our investors with the benefits of such inspections.***

 ****

Pursuant to the HFCAA, if the SEC determines that we have filed audit reports issued by a registered public accounting firm that has not been subject to inspections by the PCAOB for two consecutive years, the SEC will prohibit our Class A ordinary shares from being traded on a national securities exchange or in the over-the-counter trading market in the United States.

On December 16, 2021, the PCAOB issued a report to notify the SEC of its determination that the PCAOB was unable to inspect or investigate completely registered public accounting firms headquartered in mainland China and Hong Kong. On December 15, 2022, the PCAOB removed mainland China and Hong Kong from the list of jurisdictions where it is unable to inspect or investigate completely registered public accounting firms. Our auditor, Adeptus Partners, LLC is an independent registered public accounting firm with the PCAOB and has been inspected by the PCAOB on a regular basis. The PCAOB currently has access to inspect the working papers of our auditor. Our auditor is not headquartered in China or Hong Kong and was not identified in the determination report as a firm subject to the PCAOB's determination.

However, there could be additional regulatory or legislative requirements or guidance that could impact us if our auditor is not subject to PCAOB inspection. The implications of any possible regulations in addition to the requirements of the HFCAA are uncertain, and such uncertainty could cause the market price of our securities to be materially and adversely affected. If, for whatever reason, the PCAOB is unable to conduct inspections or full investigations of our auditor, the company could be delisted or prohibited from being traded over the counter earlier than would be required by the HFCAA. If our securities are unable to be listed on another securities exchange by then, such delisting and prohibition would substantially impair your ability to sell or purchase our securities when you wish to do so, and the risk and uncertainty associated with potential delisting and prohibition would have a negative impact on the price of our securities. Also, such delisting and prohibition could significantly affect the company's ability to raise capital on acceptable terms, or at all, which would have a material adverse effect on the company's business, financial condition and prospects.

***Because we are incorporated under the laws of the Cayman Islands, you may face difficulties in protecting your interests, and your ability to protect your rights through the U.S. Federal courts may be limited*.**

We are an exempted company incorporated under the laws of the Cayman Islands. As a result, it may be difficult for investors to effect service of process within the United States upon our directors or officers, or enforce judgments obtained in the United States courts against our directors or officers.

Our corporate affairs will be governed by our post-offering memorandum and articles of association, the Companies Act (as the same may be supplemented or amended from time to time) and the common law of the Cayman Islands. We are also subject to the federal securities laws of the United States. The rights of shareholders to take action against the directors, actions by minority shareholders and the fiduciary responsibilities of our directors to us under Cayman Islands law are to a large extent governed by the common law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited judicial precedent in the Cayman Islands as well as from English common law, the decisions of whose courts are of persuasive authority, but are not binding on a court in the Cayman Islands.

The rights of our shareholders and the fiduciary responsibilities of our directors under Cayman Islands law are different from what they would be under statutes or judicial precedent in some jurisdictions in the United States. In particular, the Cayman Islands has a different body of securities laws as compared to the United States, and certain states, such as Delaware, may have more fully developed and judicially interpreted bodies of corporate law. In addition, Cayman Islands companies may not have standing to initiate a shareholders derivative action in a Federal court of the United States.

We have been advised by Appleby, our Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments of courts of the United States predicated upon the civil liability provisions of the federal securities laws of the United States or any state; and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us predicated upon the civil liability provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those provisions are penal in nature. In those circumstances, although there is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds of fraud or obtained in a manner, or be of a kind the enforcement of which is, contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

As a result of all of the above, public shareholders may have more difficulty in protecting their interests in the face of actions taken by management, members of the board of directors or controlling shareholders than they would as public shareholders of a United States company.

***After our initial business combination, it is possible that a majority of our directors and officers will live outside the United States and all of our assets will be located outside the United States; therefore, investors may not be able to enforce federal securities laws or their other legal rights*.**

It is possible that after our initial business combination, a majority of our directors and officers will reside outside of the United States and all of our assets will be located outside of the United States. As a result, it may be difficult, or in some cases not possible, for investors in the United States to enforce their legal rights, to effect service of process upon all of our directors or officers or to enforce judgments of United States courts predicated upon civil liabilities and criminal penalties on our directors and officers under United States laws.

***[Provisions in our post-offering memorandum and articles of association may inhibit a takeover of us, which could limit the price investors might be willing to pay in the future for our Class A ordinary shares and could entrench management*.**

Our post-offering memorandum and articles of association contain provisions that may discourage unsolicited takeover proposals that shareholders may consider to be in their best interests. These provisions include the ability of the board of directors to designate the terms of and issue new shares, which may make the removal of management more difficult and may discourage transactions that otherwise could involve payment of a premium over prevailing market prices for our securities.]

***Our post-offering memorandum and articles of association provide that the courts of the Cayman Islands will be the exclusive forums for certain disputes between us and our shareholders, which could limit our shareholders' ability to obtain a favorable judicial forum for complaints against us or our directors, officers or employees*.**

Our post-offering memorandum and articles of association also provide that, without prejudice to any other rights or remedies that we may have, each of our shareholders acknowledges that damages alone would not be an adequate remedy for any breach of the selection of the courts of the Cayman Islands as exclusive forum and that accordingly we shall be entitled, without proof of special damages, to the remedies of injunction, specific performance or other equitable relief for any threatened or actual breach of the selection of the courts of the Cayman Islands as exclusive forum.

This choice of forum provision may increase a shareholder's cost and limit the shareholder's ability to bring a claim in a judicial forum that it finds favorable for disputes with us or our directors, officers or other employees, which may discourage lawsuits against us and our directors, officers and other employees. Any person or entity purchasing or otherwise acquiring any of our shares or other securities, whether by transfer, sale, operation of law or otherwise, shall be deemed to have notice of and have irrevocably agreed and consented to these provisions. There is uncertainty as to whether a court would enforce such provisions, and the enforceability of similar choice of forum provisions in other companies' charter documents has been challenged in legal proceedings. It is possible that a court could find this type of provisions to be inapplicable or unenforceable, and if a court were to find this provision in our post-offering memorandum and articles of association to be inapplicable or unenforceable in an action, we may incur additional costs associated with resolving the dispute in other jurisdictions, which could have adverse effect on our business and financial performance.

***[We may amend the terms of the rights in a manner that may be adverse to holders of public rights with the approval by the holders of at least 50% of the then-outstanding public rights. As a result, the number of Class A ordinary shares to be received upon the automatic conversion of a right could be decreased, all without your approval*.**

Our rights will be issued in registered form under a rights agreement between , as rights agent, and us. The rights agreement provides that the terms of the rights may be amended without the consent of any holder for the purpose of (i) curing any ambiguity or to correct any defective provision or mistake, including to conform the provisions of the rights agreement to the description of the terms of the rights and the rights agreement set forth in this prospectus or (ii) adding or changing any provisions with respect to matters or questions arising under the rights agreement as the parties to the rights agreement may deem necessary or desirable and that the parties deem to not adversely affect the rights of the registered holders of the rights, provided that the approval by the holders of at least 50% of the then-outstanding public rights is required to make any change that adversely affects the interests of the registered holders of public rights. Accordingly, we may amend the terms of the public rights in a manner adverse to a holder of public rights if holders of at least 50% of the then-outstanding public rights approve of such amendment. Although our ability to amend the terms of the public rights with the consent of at least 50% of the then-outstanding public rights is unlimited, examples of such amendments could be amendments to, among other things, convert the rights into cash or shares or decrease the number of Class A ordinary shares to be received upon the automatic conversion of a right.]

***[Our rights agreement designates the courts of the State of New York or the United States District Court for the Southern District of New York as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by holders of our rights, which could limit the ability of right holders to obtain a favorable judicial forum for disputes with our company*.**

***[Our rights may have an adverse effect on the market price of our Class A ordinary shares and make it more difficult to effectuate our initial business combination*.**

We will be issuing 6,000,000 units that consist of one Class A ordinary share and one right entitling the holder thereof to receive one seventh (1/7) of one Class A ordinary share upon the consummation of this offering. Additionally, our sponsor has committed to purchase an aggregate of 221,100 private units (including if the underwriter's over-allotment option is exercised) at a price of $10.00 per unit in a private placement that will close simultaneously with the closing of this offering, each such unit including a private right. In addition, if the sponsor makes any working capital loans, up to $1,500,000 of the loans may be converted to private units, at the price of $10.00 per unit. To the extent we issue ordinary shares to effectuate a business transaction, the potential for the issuance of a substantial number of additional Class A ordinary shares upon the automatic conversion of these rights could make us a less attractive acquisition vehicle to a target business. Such rights, when exercised, will increase the number of issued and outstanding Class A ordinary shares and reduce the value of the Class A ordinary shares issued to complete the business transaction. Therefore, our rights may make it more difficult to effectuate a business transaction or increase the cost of acquiring the target business. ]

***Because each unit contains one right to receive one seventh (1/7) of one Class A ordinary share, only rights representing whole shares may be exercised, and the units may be worth less than units of other SPACs*.**

Each unit contains one right to receive one seventh (1/7) of one Class A ordinary share. If, upon conversion of the rights, a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round down to the nearest whole number the number of Class A ordinary shares to be issued to the right holder. We have established the components of the units in this way in order to reduce the dilutive effect of the rights upon completion of a business combination since the rights will be automatically converted in the aggregate for one seventh (1/7) of the number of shares compared to units that each contain a right to receive one share, thus making us, we believe, a more attractive merger partner for target businesses. Nevertheless, this unit structure may cause our units to be worth less than if it included a right to receive one share.

***Holders of Class A ordinary shares will not be entitled to vote on continuing the company in a jurisdiction outside of the Cayman Islands*.**

As holders of our Class A ordinary shares, our public shareholders will not have the right to vote on continuing the company in a jurisdiction outside of the Cayman Islands (including any special resolution required to amend our constitutional documents or to adopt new constitutional documents as a result of our approving a transfer by way of continuation in a jurisdiction outside of the Cayman Islands).

***The grant of registration rights to our sponsor and other holders of our private shares may make it more difficult to complete our initial business combination, and the future conversion of such rights may adversely affect the market price of our Class A ordinary shares*.**

Pursuant to a registration rights agreement entered into concurrently with the issuance and sale of the securities in this offering, our sponsor and its permitted transferees can demand that we register the Class A ordinary shares into which founder shares are convertible, and holders of our private shares and their permitted transferees can demand that we register their private shares, including such shares underlying the private rights and private shares that may be issued upon conversion of working capital loans. We will bear the cost of registering these shares. The registration and availability of such a significant number of securities for trading in the public market may have an adverse effect on the market price of our Class A ordinary shares. In addition, the existence of the registration rights may make our initial business combination more costly or difficult to conclude. This is because the shareholders of the target business may increase the equity stake they seek in the combined entity or ask for more cash consideration to offset the negative impact on the market price of our Class A ordinary shares that is expected when the ordinary shares owned by our initial shareholder, holders of our private shares or holders of our working capital loans or their respective permitted transferees are registered.

***Past performance by our management team, our advisors and their respective affiliates, including investments and transactions in which they have participated and businesses with which they have been associated, may not be indicative of future performance of an investment in the company*.**

Information regarding our management team, our advisors and their respective affiliates, including investments and transactions in which they have participated and businesses with which they have been associated, is presented for informational purposes only. Any past experience and performance by our management team, our advisors and their respective affiliates and the businesses with which they have been associated, is not a guarantee that we will be able to successfully identify a suitable candidate for our initial business combination, that we will be able to provide positive returns to our shareholders, or of any results with respect to any initial business combination we may consummate. You should not rely on the historical experiences of our management team, our advisors and their respective affiliates, including investments and transactions in which they have participated and businesses with which they have been associated, as indicative of the future performance of an investment in us or as indicative of every prior investment by each of the members of our management team, our advisors or their respective affiliates. The market price of our securities may be influenced by numerous factors, many of which are beyond our control, and our shareholders may experience losses on their investment in our securities.

***Cyber incidents or attacks directed at us could result in information theft, data corruption, operational disruption and/or financial loss*.**

We depend on digital technologies, including information systems, infrastructure and cloud applications and services, including those of third parties with which we may deal. Sophisticated and deliberate attacks on, or security breaches in, our systems or infrastructure, or the systems or infrastructure of third parties or the cloud, could lead to corruption or misappropriation of our assets, proprietary information and sensitive or confidential data. As an early stage company without significant investments in data security protection, we may not be sufficiently protected against such occurrences. We may not have sufficient resources to adequately protect against, or to investigate and remediate any vulnerability to, cyber incidents. It is possible that any of these occurrences, or a combination of them, could have adverse consequences on our business and lead to financial loss.

***We may be a passive foreign investment company, or "PFIC," which could result in adverse United States federal income tax consequences to U.S. investors*.**

If we are a PFIC for any taxable year (or any portion thereof) that is included in the holding period of a U.S. Holder (as defined in the section of this prospectus captioned "*Taxation — United States Federal Income Tax Considerations — U.S. Holders*") of our Class A ordinary shares or rights, the U.S. Holder may be subject to adverse U.S. federal income tax consequences and may be subject to additional reporting requirements. Our PFIC status for our current and subsequent taxable years may depend on whether we qualify for the PFIC startup exception. See "*Taxation — Material United States Federal Income Tax Considerations — U.S. Holders — Passive Foreign Investment Company Rules*" for more information. Depending on the particular circumstances the application of the startup exception may be subject to uncertainty, and there cannot be any assurance that we will qualify for the startup exception. Our actual PFIC status for any taxable year, however, will not be determinable until after the end of such taxable year (and, in the case of the startup exception, potentially not until after the two taxable years following our current taxable year). Accordingly, there can be no assurances with respect to our status as a PFIC for our current taxable year or any subsequent taxable year. Moreover, if we determine we are a PFIC for any taxable year, upon written request, we will endeavor to provide to a U.S. Holder such information as the United States Internal Revenue Service ("IRS") may require, including a PFIC annual information statement, in order to enable the U.S. Holder to make and maintain a "qualified electing fund" election, but there can be no assurance that we will timely provide such required information, and such election may be unavailable with respect to our rights. We urge U.S. investors to consult their own tax advisors regarding the possible application of the PFIC rules. See "*Taxation — Material United States Federal Income Tax Considerations — U.S. Holders — Passive Foreign Investment Company Rules*."

***If our initial business combination involves a company organized under the laws of the United States (or any subdivision thereof), a U.S. federal excise tax could be imposed on us in connection with any redemptions of our Class A ordinary shares after or in connection with such initial business combination*.**

The Inflation Reduction Act of 2022 provides for, among other things, a new 1% U.S. federal excise tax on certain repurchases (including redemptions) of stock by publicly traded U.S. corporations after December 31, 2022 (the "stock buyback tax"), subject to certain exceptions (and other rules that may significantly reduce the amount of any stock buyback tax liability). If applicable, the amount of the stock buyback tax is generally 1% of the aggregate fair market value of any stock repurchased by the corporation during a taxable year, net of the aggregate fair market value of certain new stock issuances by the repurchasing corporation during the same taxable year. The Biden administration proposed increasing the stock buyback tax rate from 1% to 4%; however, it is unclear whether such a change will be enacted and, if enacted, how soon it could take effect. In addition, the U.S. Treasury Department and IRS have released proposed regulations that would potentially cause a non-U.S. corporation's U.S. subsidiaries to be subject to the stock buyback tax with respect to any share repurchases made by the non-U.S. corporation under certain circumstances. The stock buyback tax is imposed on the repurchasing corporation and not on its stockholders.

As an entity incorporated as a Cayman Islands exempted company, the stock buyback tax is currently not expected to apply to redemptions of our Class A ordinary shares (absent any further regulations or other additional guidance that may be issued in the future). However, in connection with an initial business combination involving a company organized under the laws of the United States (or any subdivision thereof), it is possible that we could domesticate and continue as a Delaware corporation prior to certain redemptions. Because we expect that, following such a domestication, our securities would continue to trade on the Nasdaq, in such a case we could be subject to the stock buyback tax with respect to any subsequent redemptions that are treated as repurchases for this purpose (which may include redemptions in connection with our initial business combination, depending on the details of such business combination and the timing of such redemptions). In all cases, whether and to what extent we would be subject to the stock buyback tax will depend on a number of factors, including (i) the structure and other details of the initial business combination, including the extent to which the initial business combination involves a U.S. corporation and the extent to which we issue shares in the initial business combination or otherwise during the same taxable year that are eligible to offset any redemptions or other repurchases, (ii) the fair market value of the shares redeemed and (iii) the extent such redemptions could be treated as dividends and not as repurchases. The applicability of the stock buyback tax to us could be further affected by the content of the final regulations and any clarifications or other additional guidance from the U.S. Treasury Department that may be issued and applicable to the redemptions.

Any stock buyback taxes we incur could reduce the amount of cash available to pay redemptions or to transfer to the target business in connection with our initial business combination, which could result in our inability to meet conditions in the agreement relating to our initial business combination related to a minimum cash requirement, if any, or otherwise result in the shareholders of the combined company (including any of our shareholders who do not exercise their redemption rights in connection with the initial business combination) to economically bear the impact of such stock buyback tax.

**An investment in this offering may result in uncertain U.S. federal income tax consequences.**

An investment in this offering may result in uncertain U.S. federal income tax consequences. For instance, because there are no authorities that directly address instruments similar to the units we are issuing in this offering, the allocation an investor makes with respect to the purchase price of a unit between the ordinary share and the right included in each unit could be challenged by the IRS or courts. There is also uncertainty with respect to the general U.S. federal income tax treatment of the rights, including with respect to their treatment under the PFIC rules. In addition, it is unclear whether the redemption rights with respect to our Class A ordinary shares suspend the running of a U.S. Holder's holding period for purposes of determining whether any gain or loss realized by such holder on the sale or exchange of ordinary shares is long-term capital gain or loss and for determining whether any dividend we pay would be considered "qualified dividend income" for U.S. federal income tax purposes. See "*Taxation — Material United States Federal Income Tax Considerations*" for more information. Prospective investors are urged to consult their tax advisors with respect to these and other tax consequences when acquiring, owning or disposing of our securities.

***We are an emerging growth company and a smaller reporting company within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to emerging growth companies or smaller reporting companies, this could make our securities less attractive to investors and may make it more difficult to compare our performance with other public companies*.**

We are an "emerging growth company" within the meaning of the Securities Act, as modified by the JOBS Act, and we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies, including, but not limited to, not being required to comply with the auditor internal controls attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. As a result, our shareholders may not have access to certain information they may deem important. We will remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the completion of this offering, (b) in which we have total annual gross revenue of at least $1.235 billion, or (c) in which we are deemed to be a large accelerated filer, which means the market value of our ordinary shares that are held by non-affiliates equals or exceeds $700 million as of the end of that year's second fiscal quarter, and (2) the date on which we have issued more than $1.0 billion in non-convertible debt securities during the prior three-year period. References herein to "emerging growth company" will have the meaning associated with it in the JOBS Act. We cannot predict whether investors will find our securities less attractive because we will rely on these exemptions. If some investors find our securities less attractive as a result of our reliance on these exemptions, the trading prices of our securities may be lower than they otherwise would be, there may be a less active trading market for our securities and the trading prices of our securities may be more volatile.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. We have elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, we, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of our financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Additionally, we are a "smaller reporting company" as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited financial statements. We will remain a smaller reporting company for each fiscal year in which (1) the market value of our ordinary shares held by non-affiliates is less than $250 million as of the end of the previous year's second fiscal quarter, or (2) our annual revenues are less than $100 million during the previous completed fiscal year and the market value of our ordinary shares held by non-affiliates is less than $700 million as of the end of the previous year's second fiscal quarter. To the extent we take advantage of such reduced disclosure obligations, it may also make comparison of our financial statements with other public companies difficult or impossible.

***Changes in the market for directors and officers liability insurance could make it more difficult and more expensive for us to negotiate and complete an initial business combination*.**

The market for directors and officers liability insurance for SPACs has changed in ways adverse to us and our management team. Fewer insurance companies are offering quotes for directors and officers liability coverage, the premiums charged for such policies have generally increased and the terms of such policies have generally become less favorable. These trends may continue into the future.

The increased cost and decreased availability of directors and officers liability insurance could make it more difficult and more expensive for us to negotiate an initial business combination. In order to obtain directors and officers liability insurance or modify its coverage as a result of becoming a public company, the post-business combination entity might need to incur greater expense, accept less favorable terms or both. However, any failure to obtain adequate directors and officers liability insurance could have an adverse impact on the post-business combination's ability to attract and retain qualified officers and directors.

In addition, even after we were to complete an initial business combination, our directors and officers could still be subject to potential liability from claims arising from conduct alleged to have occurred prior to the initial business combination. As a result, in order to protect our directors and officers, the post-business combination entity may need to purchase additional insurance with respect to any such claims ("run-off insurance"). The need for run-off insurance would be an added expense for the post-business combination entity, and could interfere with or frustrate our ability to consummate an initial business combination on terms favorable to our investors or at all.

***Recent increases in inflation in the United States and elsewhere could make it more difficult for us to complete our initial business combination*.**

Recent increases in inflation in the United States and elsewhere may lead to increased price volatility for publicly traded securities, including ours, or other national, regional or international economic disruptions, any of which could make it more difficult for us to complete our initial business combination.

**CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS**

Some of the statements contained in this prospectus may constitute "forward-looking statements" for purposes of the federal securities laws. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this prospectus may include, for example, statements about:

● our ability to select an appropriate target business or businesses;

● our ability to complete our initial business combination;

● our expectations around the performance of a prospective target business or businesses;

● our success in retaining or recruiting, or changes required in, our officers, key employees or directors following our initial business combination;

● our officers and directors allocating their time to other businesses and potentially having conflicts of interest with our business or in approving our initial business combination;

● our potential ability to obtain additional financing to complete our initial business combination;

● our pool of prospective target businesses;

● the adverse impacts of certain events (such as terrorist attacks, natural disasters or a significant outbreak of infectious diseases) on our ability to consummate an initial business combination;

● the ability of our officers and directors to generate a number of potential business combination opportunities;

● our public securities' potential liquidity and trading;

● the lack of a market for our securities;

● the use of proceeds not held in the trust account or available to us from interest income on the trust account balance;

● the trust account not being subject to claims of third parties; or

● our financial performance following this offering.

The forward-looking statements contained in this prospectus are based on our current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading "Risk Factors." Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

**ENFORCEABILITY OF CIVIL LIABILITIES**

We are a company incorporated under the laws of the Cayman Islands and administered from outside the United States, and a majority of our assets will be located within the United States after this offering. Our U.S. agent for service of process is . However, it may be difficult for investors to effect service of process on us or our officers or directors within the United States in a way that will permit a U.S. court to have jurisdiction over us. The majority of our assets may be located outside the United States after our initial business combination.

Our corporate affairs will be governed by our post-offering memorandum and articles of association, the Companies Act, and the common law of the Cayman Islands. We will also be subject to the federal securities laws of the United States. The rights of shareholders to take action against the directors, actions by minority shareholders and the fiduciary responsibilities of our directors to us under Cayman Islands law are to a large extent governed by the common law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited judicial precedent in the Cayman Islands, as well as from English common law, the decisions of whose courts are of persuasive authority, but are not binding on a court in the Cayman Islands. The rights of our shareholders and the fiduciary responsibilities of our directors under Cayman Islands law are different from what they would be under statutes or judicial precedent in certain jurisdictions in the United States. In particular, the Cayman Islands has a different body of securities laws as compared to the United States, and some states, such as Delaware, may have more fully developed and judicially interpreted bodies of corporate law. In addition, Cayman Islands companies may not have standing to initiate a shareholders derivative action in a federal court of the United States.

There is uncertainty as to whether the Cayman Islands courts would:

● recognize or enforce against us judgments of U.S. courts predicated upon the civil liability provisions of the federal securities laws of the United States or any state; and

● in original actions brought in the Cayman Islands, to impose liabilities against us or our directors or officers predicated upon the securities laws of the United States or any state in the United States so far as the liabilities imposed by those provisions are penal in nature.

We have been advised by Appleby, our Cayman Islands legal counsel, that there is uncertainty with regard to Cayman Islands law related to whether a judgment obtained from the U.S. courts under civil liability provisions of U.S. securities laws will be determined by the courts of the Cayman Islands as penal or punitive in nature. Although there is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds of fraud or obtained in a manner, or be of a kind the enforcement of which is, contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

As a result of all of the above, public shareholders may have more difficulty in protecting their interests in the face of actions taken by management, members of the board of directors or controlling shareholders than they would as public shareholders of a United States company.

**People's Republic of China**

As of the date of this prospectus, there is uncertainty as to whether the courts of China would (1) recognize or enforce judgments of United States courts obtained against us or such persons predicated upon the civil liability provisions of the securities laws of the United States or any state thereof, or (2) be competent to hear original actions brought in each respective jurisdiction, against us or such persons predicated upon the securities laws of the United States or any state thereof.

The recognition and enforcement of foreign judgments are mainly provided for under the Chinese Civil Procedure Law. Chinese courts may recognize and enforce foreign judgments in accordance with the requirements of the Chinese Civil Procedure Law and other applicable laws and regulations based either on treaties between China and the country where the judgment is made or in reciprocity between jurisdictions. Accordingly, there is uncertainty whether China courts will recognize or enforce judgments of United States or Cayman Islands Courts because China does not have any treaties or other agreements with the Cayman Islands or the United States that provide for the reciprocal recognition and enforcement of foreign judgments as of the date of this prospectus. Further, under Chinese Civil Procedure Law, Chinese courts will not enforce a foreign judgment against us or our officers and directors if the court decides that such judgment violates the basic principles of PRC law or national sovereignty, security or social public interest. As a result, it is uncertain whether and on what basis a PRC court would enforce a judgment rendered by a court in the United States or in the Cayman Islands.

Under the PRC Civil Procedure Law, foreign shareholders may originate actions based on PRC law against a company in China for disputes if they can establish sufficient nexus to the PRC for a PRC court to have jurisdiction, and meet other procedural requirements, including, among others, the plaintiff must have a direct interest in the case, and there must be a concrete claim, a factual basis and a cause for the suit. However, it will be difficult for U.S. shareholders to originate actions against us in the PRC in accordance with PRC laws because we are incorporated under the laws of the Cayman Islands and it will be difficult for U.S. shareholders, by virtue only of holding our ordinary shares, to establish a connection to the PRC for a PRC court to have jurisdiction as required under the PRC Civil Procedure Law.

Some of our executive officers and directors are located in or have significant ties to China. Three of our directors and executive officers, including Dr. Bo Yan, who is the sole member and sole director of our sponsor, Mr. Shen Ma and Mr. Xiangyi Chen, are nationals and/or residents of the PRC, and all or a substantial portion of such persons' assets are located outside the United States. As a result, it may be difficult for investors to effect service of process within the United States upon us or such persons, or to enforce against them or against us, including judgments predicated upon the civil liability provisions of e securities laws of the United States or any state thereof. It may also be difficult for you to enforce judgments obtained in U.S. courts based on the civil liability provisions of the U.S. federal securities laws against us and our officers and directors. It will also be costlier and time-consuming for the investors to effect service of process outside the United States, or to enforce judgments obtained from the U.S. courts in the courts of the jurisdictions where our directors and officers reside. As such, it may be difficult for you to enforce judgments obtained in U.S. courts based on the civil liability provisions of the U.S. federal securities laws against us and our officers and directors.

As a result of all of the above, public shareholders may have more difficulty in protecting their interests in the face of actions taken against the management, members of the board of directors or controlling shareholders than they would as public shareholders of a United States-incorporated company.

A judgment of a court in the United States predicated upon U.S. federal or state securities laws may be enforced in Hong Kong at common law by bringing an action in a Hong Kong court on that judgment for the amount due thereunder, and then seeking summary judgment on the strength of the foreign judgment, provided that the foreign judgment, among other things, is (1) for a debt or a definite sum of money (not being taxes or similar charges to a foreign government taxing authority or a fine or other penalty) and (2) final and conclusive on the merits of the claim, but not otherwise. Such a judgment may not, in any event, be so enforced in Hong Kong if (a) it was obtained by fraud; (b) the proceedings in which the judgment was obtained were opposed to natural justice; (c) its enforcement or recognition would be contrary to the public policy of Hong Kong; (d) the court of the United States was not jurisdictionally competent; or (e) the judgment was in conflict with a prior Hong Kong judgment.

Hong Kong has no arrangement for the reciprocal enforcement of judgments with the United States. As a result, there is uncertainty as to the enforceability in Hong Kong, in original actions or in actions for enforcement, of judgments of United States courts of civil liabilities predicated solely upon the federal securities laws of the United States or the securities laws of any State or territory within the United States.

**USE OF PROCEEDS**

We are offering 6,000,000 units at an offering price of $10.00 per unit. We estimate that the net proceeds of this offering, together with the funds we will receive from the sale of the private units, will be used as set forth in the following table:

---

| | | |
|:---|:---|:---|
|  | **Without<br> Over-Allotment Option** | **Over-Allotment Option Exercised** |
| **Gross Proceeds** |  |  |
| Gross proceeds from this offering | $60000000 | $69000000 |
| Gross proceeds from sale of private units | $2211000 | $2346000 |
| **Total gross proceeds** | $**622110000** | $**71346000** |
| Estimated Offering expenses: |  |  |
| Underwriting discount (excluding deferred portions) | $900000 | $1035000 |
| Underwriter accountable expenses | $100000 | $100000 |
| Initial trustee Fee | $6500 | $6500 |
| Legal fees and expenses | $210000 | $210000 |
| Nasdaq listing fee | $80000 | $80000 |
| SEC registration fee | $9594 | $9594 |
| FINRA filing fee | $10250 | $10250 |
| Printing and engraving expenses | $25000 | $25000 |
| Transfer agent fee | $25000 | $25000 |
| Accounting fees and expenses | $80000 | $80000 |
| Underwriter non-accountable expenses | $20000 | $20000 |
| Miscellaneous expenses | $44656 | $44656 |
| **Total offering expenses** | $**611000** | $**611000** |
| Net proceeds | $60700000 | $69700000 |
| Held in the trust account | $60000000 | $69000000 |
| % Held in the trust account | 100.0% | 100.0% |
| Not held in the trust account | $700000 | $700000 |

---

**** 

<br> The following table shows the use of approximately $700,000 of net proceeds not held in the trust account.

---

| | | |
|:---|:---|:---|
|  | **Amount** | **% of Total** |
| Legal, accounting, due diligence, travel and other expenses related to any business combination | $200000 | 28.57% |
| Legal and accounting fees related to regulatory reporting obligations | $100000 | 14.29% |
| Nasdaq continued listing fees | $85000 | 12.14% |
| Director and officer ("D&O") liability insurance premiums | $150000 | 21.43% |
| Payment of administrative fee to the Sponsor | $150000 | 21.43% |
| Other miscellaneous expenses | $15000 | 2.14% |
| **Total** | $**700000** | **100.00%** |

---

These expenses are estimates only. Our actual expenditures for some or all of these items may differ from the estimates set forth herein. For example, we may incur greater legal and accounting expenses than our current estimates in connection with negotiating and structuring our initial business combination based upon the level of complexity of such business combination. In the event we identify a business combination target in a specific industry subject to specific regulations, we may incur additional expenses associated with legal due diligence and the engagement of special legal counsel. In addition, our staffing needs may vary and as a result, we may engage a number of consultants to assist with legal and financial due diligence. We do not anticipate any change in our intended use of proceeds, other than fluctuations among the current categories of allocated expenses, which fluctuations, to the extent they exceed current estimates for any specific category of expenses, would not be available for our expenses. The amount in the table above does not include interest available to us from the trust account.

Nasdaq rules provide that at least 90% of the gross proceeds from this offering and the sale of the private units be deposited in a trust account. Of the $60,000,000 in gross proceeds we receive from this offering and the sale of the private units described in this prospectus, or $69,000,000 if the underwriter's over-allotment option is exercised in full will be deposited into a trust account in the United States with acting as trustee. The proceeds held in the trust account will initially be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended business combination. To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that we hold investments in the trust account, we may, at any time (based on our management team's ongoing assessment of all factors related to our potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the trust account and instead to hold the funds in the trust account in cash or in an interest bearing demand deposit account at a bank. We expect that the interest earned on the trust account will be sufficient to pay taxes. We will not be permitted to withdraw any of the principal or interest held in the trust account, except for taxes payable and up to $100,000 to pay liquidation and dissolution expenses, as applicable, until the earliest of (i) the completion of our initial business combination, (ii) the redemption of our public shares if we are unable to complete our initial business combination within the completion window, subject to applicable law, or (iii) the redemption of our public shares properly submitted in connection with a shareholder vote to approve an amendment to our post-offering memorandum and articles of association (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we have not consummated our initial business combination within the completion window or (B) with respect to any other material provisions relating to shareholders' rights or pre-initial business combination activity.

The net proceeds released to us from the trust account upon the closing of our initial business combination may be used as consideration to pay the sellers of a target business with which we complete our initial business combination. If our initial business combination is paid for using equity or debt securities, or not all of the funds released from the trust account are used for payment of the consideration in connection with our initial business combination, we may use the balance of the cash released from the trust account following the closing for general corporate purposes, including for maintenance or expansion of operations of the post-transaction company, the payment of principal or interest due on indebtedness incurred in completing our initial business combination, to fund the purchase of other companies or for working capital. There is no limitation on our ability to raise funds through the issuance of equity-linked securities or through loans, advances or other indebtedness in connection with our initial business combination, including pursuant to forward purchase agreements or backstop arrangements we may enter into following consummation of this offering. However, our post-offering memorandum and articles of association provides that, following this offering and prior to the consummation of our initial business combination, we will be prohibited from issuing additional securities that would entitle the holders thereof to (i) receive funds from the trust account or (ii) vote as a class with public shares on any initial business combination.

We believe that net proceeds of this offering and the sale of the private units not held in the trust account will be sufficient to pay the costs and expenses to which such proceeds are allocated that are payable prior to the closing of our initial business combination. However, if our estimate of the costs of undertaking in-depth due diligence and negotiating a business combination that are payable is less than the actual amount necessary to do so, we may be required to raise additional capital, the amount, availability and cost of which is currently unascertainable. If we are required to seek additional capital, we could seek such additional capital through loans or additional investments from our sponsor, members of our management team or any of their affiliates, but such persons are not under any obligation to advance funds to, or invest in, us.

We [have entered] into an administrative services agreement pursuant to which we [have agreed] to pay our sponsor or an affiliate thereof $10,000 per month for office space, administrative and support services for up to 15 months and the extension period. Upon completion of our initial business combination or our liquidation, the administrative services agreement will terminate, and we will cease paying these monthly fees.

Our sponsor has agreed to loan us up to $500,000 under an unsecured promissory note, as amended, to be used for a portion of the expenses of this offering. As of July 31, 2025, we have borrowed $109,231 under such promissory note. The note is non-interest bearing, and due after the date on which this proposed offering is consummated or December 31, 2026. This loan will be repaid upon completion of this offering out of the offering proceeds that has been allocated for the payment of offering expenses (other than underwriting commissions) not held in the trust account.

In addition, in order to finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our directors and officers may, but are not obligated to, loan us funds as may be required. If we complete our initial business combination, we may repay such loaned amounts out of the proceeds of the trust account released to us. Otherwise, such loans may be repaid only out of funds held outside the trust account. In the event that our initial business combination does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be used to repay such loaned amounts. Up to $1,500,000 of such loans may be convertible into units at a price of $10.00 per unit at the option of the lender. The units would be identical to the private units issued to our sponsor. The terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans, and such terms will be subject to the approval of our audit committee. We do not expect to seek loans from parties other than our sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account.

If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our initial shareholder, directors, officers, advisors or any of their respective affiliates may also purchase shares in privately negotiated transactions or in the open market either prior to or following the completion of our initial business combination. The price per share paid in any such transaction may not be higher than the amount per share a public shareholder would receive if it elected to redeem its shares in connection with our initial business combination. Additionally, at any time at or prior to our initial business combination, subject to applicable securities laws (including with respect to material nonpublic information), our initial shareholder, directors, officers, advisors or any of their respective affiliates may enter into transactions with investors and others to provide them with incentives to acquire public shares or not redeem their public shares. However, such persons are under no obligation or duty to do so and they have no current commitments, plans or intentions to engage in such transactions and have not formulated any terms or conditions for any such transactions. See "*Proposed Business* — *Permitted purchases and other transactions with respect to our securities*" for more information. None of the funds held in the trust account will be used to purchase public shares or rights in such transactions prior to completion of our initial business combination. If they engage in such transactions, they will be restricted from making any such purchases when they are in possession of any material non-public information not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange Act.

In the event that our initial shareholder, directors, officers, advisors or any of their respective affiliates purchase public shares in privately negotiated transactions from public shareholders who have already elected to exercise their redemption rights, such selling shareholders would be required to revoke their prior elections to redeem their public shares. We do not currently anticipate that such purchases, if any, would constitute a tender offer subject to the tender offer rules under the Exchange Act or a going-private transaction subject to the going-private rules under the Exchange Act; however, if the purchasers determine at the time of any such purchases that the purchases are subject to such rules, the purchasers will comply with such rules. Further, any such purchases will be reported pursuant to Section 13 and Section 16 of the Exchange Act to the extent such purchasers are subject to such reporting requirements. Our initial shareholder, directors, officers, advisors or any of their respective affiliates will be restricted from making any purchases if such purchases would violate Section 9(a)(2) or Rule 10b-5 of the Exchange Act.

The purpose of any such purchases could be to satisfy a closing condition in an agreement with a target that requires us to have a minimum net worth or a certain amount of cash at the closing of our initial business combination, where it appears that such requirement would otherwise not be met. Any such transactions may result in the completion of our initial business combination that may not otherwise have been possible. In addition, if such purchases are made, the public "float" of our ordinary shares or rights may be reduced and the number of beneficial holders of our securities may be reduced, which may make it difficult to maintain or obtain the quotation, listing or trading of our securities on a national securities exchange.

In the event our sponsor, directors, officers, advisors or their affiliates were to purchase shares from public shareholders, such purchases would by structured in compliance with the requirements of Rule 14e-5 under the Exchange Act. See "*Proposed Business* — *Permitted purchases and other transactions with respect to our securities*" for more information.

We may not redeem our public shares in an amount that would cause our net tangible assets to be less than what the agreement for our initial business combination may require as a closing condition that we have a minimum net worth or a certain amount of cash. If too many public shareholders exercise their redemption rights so that we cannot satisfy the net tangible asset requirement or any net worth or cash requirements, we would not proceed with such redemption and the related business combination and may instead search for an alternate business combination (including, potentially, with the same target).

Our public shareholders will be entitled to receive funds from the trust account only upon the earliest to occur of: (i) our completion of an initial business combination, and then only in connection with those ordinary shares that such shareholder properly elected to redeem, subject to the limitations described herein; (ii) the redemption of any public shares properly submitted in connection with a shareholder vote to amend our memorandum and articles of association (a) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within the completion window or (b) with respect to any other material provisions relating to shareholders' rights or pre-initial business combination activity; and (iii) the redemption of our public shares if we have not completed an initial business combination within the completion window, subject to applicable law. In no other circumstances will a shareholder have any right or interest of any kind to or in the trust account. Holders of rights will not have any right to the proceeds held in the trust account with respect to the rights.

Our initial shareholder, directors and officers [have entered] into a letter agreement with us, pursuant to which they [have agreed] to waive their redemption rights with respect to any shares held by them in connection with the completion of our initial business combination or certain amendments to our memorandum and articles of association as described elsewhere in this prospectus. In addition, our initial shareholder has agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares and private shares if we fail to complete our initial business combination within the prescribed time frame. However, if our initial shareholder or any of our directors, officers or affiliates acquire public shares, they will be entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete our initial business combination within the prescribed time frame.

**DIVIDEND POLICY**

We have not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination. A Cayman Islands company may pay a dividend on its shares out of profits, the share premium account or other funds of the company lawfully available therefor, provided that in no circumstances may a dividend be paid if following such payment the company would be unable to pay its debts as they fall due in the ordinary course of business. The payment of cash dividends following completion of our initial business combination will be within the discretion of our board of directors at such time and will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to completion of our initial business combination. There is no certainty we will be in a position to, or decide to, pay cash dividends after completing any business combination.

**DILUTION**

The difference between the public offering price per share of ordinary shares, assuming no value is attributed to the units included in the units we are offering pursuant to this prospectus or the private units, and the pro forma net tangible book value (NTBV) per share of our ordinary shares after this offering constitutes the dilution to investors in this offering. Net tangible book value (NTBV) per share is determined by dividing our net tangible book value, which is our total tangible assets less total liabilities (including the value of ordinary shares which may be redeemed for cash), by the number of issued and outstanding ordinary shares.

The below calculations (A) assume that (i) no ordinary shares are issued to shareholders of a potential business combination target as consideration or issuable by a post-business combination company, for instance under an equity or employee share purchase plan, (ii) no ordinary shares and convertible equity or debt securities are issued in connection with additional financing that we may seek in connection with an initial business combination, and (iii) no working capital loans are converted into private units, as further described in this prospectus, and (B) assume the issuance of (i) 6,000,000 ordinary shares (or 6,900,000 ordinary shares if the over-allotment option is exercised in full), (ii) 857,143 ordinary shares (or 985,714 shares if the over-allotment option is exercised in full), giving effect to the conversion of rights included in the public units, (iii) 2,957,143 founder shares (up to 385,714 of which are assumed to be forfeited in the scenario in which the over-allotment option is not exercised in full), (iv) 221,100 private shares (or 234,600 private shares if the over-allotment option is exercised in full), and (v) 31,586 private shares (or 33,514 private shares if the over-allotment option is exercised in full), giving effect to the conversion of rights included in private units. Further, as we intend to target an initial business combination with a target business whose enterprise value is greater than what we could acquire with the net proceeds of this offering and the sale of the private units, we may need to issue ordinary shares and convertible equity or debt securities in connection with additional financing. Any such issuances of equity securities could dilute the interests of our existing shareholders.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** | **As of July 31, 2025** |
| **Offering Price of**<br> **$10.00 per Unit** | **25% of Maximum**<br> **Redemption** | **25% of Maximum**<br> **Redemption** | **50% of Maximum**<br> **Redemption** | **50% of Maximum**<br> **Redemption** | **75% of Maximum**<br> **Redemption** | **75% of Maximum**<br> **Redemption** | **Maximum**<br> **Redemption** | **Maximum**<br> **Redemption** |
| **NTBV** | **NTBV** | **Difference**<br> **between**<br> **NTBV and**<br> **Offering Price** | **NTBV** | **Difference**<br> **between**<br> **NTBV and**<br> **Offering Price** | **NTBV** | **Difference**<br> **between NTBV**<br> **and Offering**<br> **Price** | **NTBV** | **Difference**<br> **between**<br> **NTBV and**<br> **Offering Price** |
| *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* | *Assuming Full Exercise of Over-Allotment Option* |
| 6.10 | 5.45 | 4.55 | 4.56 | 5.44 | 3.22 | 6.78 | 1.01 | 8.99 |
| *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* | *Assuming No Exercise of Over-Allotment Option* |
| 6.08 | 5.44 | 4.56 | 4.56 | 5.44 | 3.26 | 6.74 | 1.13 | 8.87 |

---

The following tables illustrate the dilution to the public shareholders on a per-share basis as of July 31, 2025:

***<u>Assuming Full Exercise of Over-Allotment Option</u>***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **No Redemptions** | **25% of Maximum Redemptions** | **50% of Maximum Redemptions** | **75% of Maximum Redemptions** | **Maximum Redemptions** |
| Public offering price | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 |
| NTBV per share before this offering | (0.03) | (0.03) | (0.03) | (0.03) | (0.03) |
| Increase attributable to this offering and private placement | 6.13 | 5.48 | 4.59 | 3.25 | 1.04 |
| Pro forma NTBV after this offering | 6.10 | 5.45 | 4.56 | 3.22 | 1.01 |
| Dilution to new investors | $3.90 | $4.55 | $5.44 | $6.78 | $8.99 |
| Percentage of dilution to new investors | 39.0% | 45.5% | 54.4% | 67.8% | 89.9% |

---

***<u>Assuming No Exercise of Over-Allotment Option</u>***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **No Redemptions** | **25% of Maximum Redemptions** | **50% of Maximum Redemptions** | **75% of Maximum Redemptions** | **Maximum Redemptions** |
| Public offering price | $10.00 | $10.00 | $10.00 | $10.00 | $10.00 |
| NTBV per share before this offering | (0.04) | (0.04) | (0.04) | (0.04) | (0.04) |
| Increase attributable to this offering and private placement | 6.12 | 5.48 | 4.60 | 3.30 | 1.17 |
| Pro forma NTBV after this offering | 6.08 | 5.44 | 4.56 | 3.26 | 1.13 |
| Dilution to new investors | $3.92 | $4.56 | $5.44 | $6.74 | $8.87 |
| Percentage of dilution to new investors | 39.2% | 45.6% | 54.4% | 67.4% | 88.70% |

---

The pro forma NTBV per share after this offering for each of the redemption scenarios is calculated as follows:

***<u>Assuming Full Exercise of Over-Allotment Option</u>***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **No Redemptions** | **25% of Maximum Redemptions** | **50% of Maximum Redemptions** | **75% of Maximum Redemptions** | **Maximum Redemptions** |
| Numerators: |  |  |  |  |  |
| NTBV before this offering | $(94231) | $(94231) | $(94231) | $(94231) | $(94231) |
| Plus: Proceeds from this offering and private placement (excluding offering costs) <sup>(1)(2)</sup> | 69700000 | 69700000 | 69700000 | 69700000 | 69700000 |
| Plus: Offering costs paid and excluded from NTBV before this offering | 100000 | 100000 | 100000 | 100000 | 100000 |
| Less: Payments for redemptions <sup>(2)</sup> | - | (16176442) | (32352884) | (48529326) | (64705768) |
|  | $69705769 | $53529327 | $37352885 | $21176443 | $5000001 |
| Denominators: |  |  |  |  |  |
| Ordinary shares issued and outstanding prior to this offering | 2957143 | 2957143 | 2957143 | 2957143 | 2957143 |
| Ordinary shares to be sold in this offering | 6900000 | 6900000 | 6900000 | 6900000 | 6900000 |
| Ordinary shares underlying rights to be issued in this offering | 985714 | 985714 | 985714 | 985714 | 985714 |
| Ordinary shares included in the private units | 234600 | 234600 | 234600 | 234600 | 234600 |
| Ordinary shares underlying rights in the private units | 33514 | 33514 | 33514 | 33514 | 33514 |
| Representative Shares and A.G.P. Shares | 321500 | 321500 | 321500 | 321500 | 321500 |
| Less: Shares subject to redemptions | - | (1617644) | (3235288) | (4852933) | (6470577) |
|  | 11432471 | 9814827 | 8197183 | 6579539 | 4961895 |

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***Assuming No Exercise of Over-Allotment Option***

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **No Redemptions** | **25% of Maximum Redemptions** | **50% of Maximum Redemptions** | **75% of Maximum Redemptions** | **Maximum Redemptions** |
| Numerators: |  |  |  |  |  |
| NTBV before this offering | $(94231) | $(94231) | $(94231) | $(94231) | $(94231) |
| Plus: Proceeds from this offering and private placement (excluding offering costs) <sup>(1)(2)</sup> | 60700000 | 60700000 | 60700000 | 60700000 | 60700000 |
| Plus: Offering costs paid and excluded from NTBV before this offering | 100000 | 100000 | 100000 | 100000 | 100000 |
| Less: Over-allotment option liability | (82030) | (82030) | (82030) | (82030) | (82030) |
| Less: Payments for redemptions <sup>(2)</sup> | - | (13905935) | (27811869) | (41717804) | (55623738) |
|  | $60623739 | $46717805 | $32811870 | $18905936 | $5000001 |
| Denominators: |  |  |  |  |  |
| Ordinary shares issued and outstanding prior to this offering | 2957143 | 2957143 | 2957143 | 2957143 | 2957143 |
| Ordinary shares forfeited if the over-allotment option is not exercised | (385714) | (385714) | (385714) | (385714) | (385714) |
| Ordinary shares to be sold in this offering | 6000000 | 6000000 | 6000000 | 6000000 | 6000000 |
| Ordinary shares underlying rights to be issued in this offering | 857143 | 857143 | 857143 | 857143 | 857143 |
| Ordinary shares included in the private units | 221100 | 221100 | 221100 | 221100 | 221100 |
| Ordinary shares underlying rights in the private units | 31586 | 31586 | 31586 | 31586 | 31586 |
| Representative Shares and A.G.P. Shares | 290000 | 290000 | 290000 | 290000 | 290000 |
| Less: Shares subject to redemptions | - | (1390593) | (2781187) | (4171780) | (5562374) |
|  | 9971257 | 8580664 | 7190070 | 5799477 | 4408883 |

---

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| | |
|:---|:---|
| (1) | Expenses applied against gross proceeds include offering expenses of approximately $611,000 and $900,000 (or up to $1,035,000 if the overallotment option is exercised in full) of underwriting commissions. See "*Use of Proceeds*." |
| (2) | The underwriting commissions would be paid as follows: $0.15 per unit sold in the base offering, or $900,000 (or up to $1,035,000 if the overallotment option is exercised in full) in the aggregate, is payable upon the closing of this offering. See also "*Underwriting*" for a description of compensation and other items of value payable to the underwriter. |
| (3) | If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our sponsor, initial shareholder, directors, executive officers, advisors or their affiliates may purchase shares or public rights in privately negotiated transactions or in the open market either prior to or following the completion of our initial business combination. In the event of any such purchases of our shares prior to the completion of our initial business combination, the number of ordinary shares subject to redemption will be reduced by the amount of any such purchases, increasing the pro forma net tangible book value per share. See "*Proposed Business* — *Permitted Purchases and Other Transactions with Respect to Our Securities*."<br>|
|  | In addition to the material probable transactions or sources of dilutions discussed above, we note that there are possible other sources of dilution and the extent of such dilution that non-redeeming public shareholders could experience in connection with the closing of the initial business combination may be uncertain, due to the uncertainty associated with the occurrence or the amount of securities that may be issued pursuant to such occurrence, including arising from: (i) any loans or additional investments from our sponsor, members of our management team or any of their affiliates or designees, including the issuing of working capital units or extension units, (ii) any ordinary shares, preferred shares or debt securities that may be issued to third parties pursuant to any equity financing or debt financing in connection with the initial business combination, (iii) any additional securities that might be issued as we may seek an initial business combination with a target company with an enterprise value greater than the net proceeds of the offering, or (iv) other source of issue of securities, such as the reservation and issuance of any securities under an employee incentive plan after completion of our initial business combination. |

---

**CAPITALIZATION**

The following table sets forth our capitalization on July 31, 2025, and as adjusted to give effect to the sale of our units in this offering and the private units and the application of the estimated net proceeds derived from the sale of such securities:

---

| | | |
|:---|:---|:---|
|  | **July 31, 2025** | **July 31, 2025** |
|  | **Actual** | **As Adjusted<sup>(1)</sup>** |
| Notes payable to related party <sup>(2)</sup> | $109231 | $— |
| Class A ordinary shares, 6,000,000 shares, par value $0.0001 each, are subject to possible redemption <sup>(3)</sup> |  | 60000000 |
| Over-allotment liability |  | 82030 |
| Class A ordinary shares, par value $0.0001 each, 60,000,000 shares authorized; 0 and 511,100 shares issued and outstanding, actual and as adjusted (excludes up to 6,000,000 shares subject to possible redemption) |  | 51 |
| Class B ordinary shares, par value $0.0001 each, 6,000,000 shares authorized, 2,957,143 and 2,571,429 shares issued and outstanding, actual and as adjusted, respectively<sup>(4)(5)</sup> | 296 | 257 |
| Additional paid-in capital | 24704 | 642662  |
| Accumulated deficit | (19231) | (19231) |
| Total shareholders' equity (deficit) | 5769 | 623739 |
| Total capitalization | $115000 | $60705769 |

---

(1) Assumes no exercise of the underwriter's over-allotment option and the corresponding forfeiture of 385,714 ordinary shares held by our sponsor.

(2) Our sponsor may loan us up to $500,000 under an unsecured promissory note to be used for a portion of the expenses of this offering. The "as adjusted" information gives effect to the repayment of any loans received from our sponsor out of the proceeds from this offering and the sale of the private units. As of July 31, 2025, we had borrowed $109,231 under the promissory note with our sponsor.

(4) Actual share amount is prior to any forfeiture of founder shares and as adjusted amount assumes no exercise of the underwriter's over-allotment option (and related forfeiture of an aggregate of 385,714 founder shares) and excludes any private shares.

(5) Actual shares have been retroactively restated to reflect the issuance of Class B ordinary shares following the capital re-designation on August 8, 2025 (see Note 7).

**MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

**Overview**

We are a newly organized blank check company incorporated in June 2025 as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.

The issuance of additional ordinary shares or preferred shares:

● may significantly dilute the equity interest of investors in this offering who would not have pre-emption rights in respect of any such issue;

● could cause a change in control if a substantial number of ordinary shares are issued, which may affect, among other things, our ability to use our net operating loss carry forwards, if any, and could result in the resignation or removal of our present officers and directors;

● may have the effect of delaying or preventing a change of control of us by diluting the share ownership or voting rights of a person seeking to obtain control of us; and

● may adversely affect prevailing market prices for our ordinary shares.

Similarly, if we issue debt securities or otherwise incur significant indebtedness, it could result in:

● default and foreclosure on our assets if our operating revenues after our initial business combination are insufficient to repay our debt obligations;

● acceleration of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;

● our immediate payment of all principal and accrued interest, if any, if the debt is payable on demand;

● our inability to obtain necessary additional financing if any document governing such debt contains covenants restricting our ability to obtain such financing while the debt security is outstanding;

● our inability to pay dividends on our ordinary shares;

● using a substantial portion of our cash flow to pay principal and interest on our debt, which will reduce the funds available for dividends on our ordinary shares if declared, expenses, capital expenditures, acquisitions and other general corporate purposes;

● limitations on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate;

● increased vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation; and

● limitations on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution of our strategy and other purposes and other disadvantages compared to our competitors who have less debt.

**Results of Operations and Known Trends or Future Events**

We have neither engaged in any operations nor generated any revenues to date. Our only activities since inception have been organizational activities and those necessary to prepare for this offering. Following this offering, we will not generate any operating revenues until after completion of our initial business combination. We will generate non-operating income in the form of interest income on cash and cash equivalents after this offering. There has been no significant change in our financial or trading position and no material adverse change has occurred since the date of our audited financial statements. After this offering, we expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. We expect our expenses to increase substantially after the closing of this offering.

For the period from June 25, 2025 (inception) through July 31, 2025, we had a net loss of $19,231, all of which consisted of formation and operating costs.

**Liquidity and Capital Resources**

As indicated in the accompanying financial statements, we had no cash and a working capital deficit of $(94,231) (excluding deferred offering costs) as of July 31, 2025. Further, we have incurred and expect to continue to incur significant costs in pursuit of our financing and acquisition plans. Management plans to address this uncertainty through this offering. We cannot assure you that our plans to raise capital or to consummate an initial business combination will be successful. These factors, among others, raise substantial doubt about our ability to continue as a going concern.

Our liquidity needs have been satisfied to date through receipt of $25,000 from the sale of the founder shares, and borrowing from a related party up to an aggregate amount of $300,000 that are more fully described below. See "*Related Party Transactions*". Our deferred offering costs through July 31, 2025 have been $100,000. The net proceeds from (1) the sale of the units in this offering, after deducting offering expenses of approximately $611,000 in total and underwriting discounts payable in cash of $900,000 (or $1,035,000 if the over-allotment option is exercised in full) and (2) the sale of the private units for a purchase price of $2,211,000 (or $2,346,000 if the over-allotment option is exercised in full), will be $60,700,000 (or $69,700,000 if the over-allotment option is exercised in full). $60,000,000 (or $69,000,000 if the over-allotment option is exercised in full) will be held in the trust account. The remaining $700,000 will not be held in the trust account.

We intend to use substantially all of the net proceeds of this offering and the sale of the private units, including the funds held in the trust account to acquire a target business or businesses and to pay our expenses relating thereto. To the extent that our shares used in whole or in part as consideration to effect our initial business combination, the remaining proceeds held in the trust account as well as any other net proceeds not expended will be used as working capital to finance the operations of the target business or businesses. Such working capital funds could be used in a variety of ways including continuing or expanding the target business' operations, for strategic acquisitions and for marketing, research and development of existing or new products. Such funds could also be used to repay any operating expenses which we had incurred prior to the completion of our initial business combination if the funds available to us outside of the trust account were insufficient to cover such expenses.

Over the next 15 months from effectiveness of this registration statement (assuming a business combination is not consummated prior thereto), we will be using the funds held outside of the trust account for identifying and evaluating prospective acquisition candidates, performing business due diligence on prospective target businesses, traveling to and from the offices, plants or similar locations of prospective target businesses, reviewing corporate documents and material agreements of prospective target businesses, selecting the target business to acquire and structuring, negotiating and consummating the business combination. Out of the funds available outside the trust account, we anticipate that we will incur approximately:

● $200,000 of expenses for the legal, accounting, due diligence, travel and other expenses in connection with initial business combination;

● $150,000 of expenses for directors and officers' insurance premiums;

● $100,000 of expenses for legal and accounting fees related to regulatory reporting obligations;

● $150,000 of expenses for payment of office space, administrative and supporting services; and

● $100,000 of expenses relating to other miscellaneous expenses.

If our estimates of the costs of undertaking in-depth due diligence and negotiating our initial business combination is less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior to our initial business combination. Moreover, we may need to obtain additional financing either to consummate our initial business combination or because we become obligated to redeem a significant number of our public shares upon consummation of our initial business combination, in which case we may issue additional securities or incur debt in connection with such business combination. Subject to compliance with applicable securities laws, we would only consummate such financing simultaneously with the consummation of our initial business combination. Following our initial business combination, if cash on hand is insufficient, we may need to obtain additional financing in order to meet our obligations.

**Related Party Transactions**

On July 28, 2025, we entered into a share subscription agreement with our sponsor for the subscription of 2,957,143 founder shares (up to 385,714 of which are subject to forfeiture depending on the extent to which the underwriter's over-allotment option is exercised) for an aggregate purchase price of $25,000, or approximately $0.008 per share. Such founder shares were issued on August 8, 2025, following the capital re-designation. The number of founder shares issued was determined based on the expectation that the founder shares would represent 30% of the outstanding shares after this offering (not including the shares underlying the private units, Representative Shares and A.G.P. Shares). Prior to the initial investment of $25,000 by our sponsor, we had no assets, tangible or intangible. The per share purchase price of the founder shares was determined by dividing the amount of cash contributed to the company by the aggregate number of founder shares issued. If we increase or decrease the size of the offering pursuant to Rule 462(b) under the Securities Act, we will effect a share dividend or share contribution back to capital, as applicable, immediately prior to the consummation of the offering in such amount as to maintain the ownership of our initial shareholders prior to this offering at 20.0% of our issued and outstanding ordinary shares upon the consummation of this offering (without giving effect to any purchases by our initial shareholders in the offering).

On July 28, 2025, we issued an unsecured promissory note to our sponsor with an aggregate principal amount of up to $500,000, to be used for a portion of the expenses of this offering. As of July 31, 2025, we have borrowed $109,231 under such promissory note. The loan is payable without interest on the earlier of (i) December 31, 2026 or (ii) date on which we consummate our initial public offering. We intend to repay this loan from the proceeds of this offering not being placed in the trust account. If we determine not to proceed with the offering, such amounts would not be repaid.

Our sponsor has committed to purchase from us an aggregate of 221,100 private units (or up to 234,600 private units if the underwriter's over-allotment option is exercised in full) at $10.00 per unit. Such purchases will take place on a private placement basis simultaneously with the consummation of this offering. All of the proceeds we receive from the purchase of the private units will be placed in the trust account. See "*Liquidity and Capital Resources*."

Our sponsor will agree, commencing from the date that our securities are first listed on Nasdaq through the earlier of the consummation of our initial business combination and our liquidation, to make available to us certain general and administrative services, including office space, administrative and support services, as we may require from time to time. We have agreed to pay our sponsor $10,000 per month for these services, payable upon consummation of our initial business combination (if we do not consummate an initial business combination, any accrued and unpaid amounts shall be forgiven). No administrative service expense will be accrued prior to the closing of our initial public offering.

If needed to finance transaction costs in connection with searching for a target business or consummating an intended initial business combination, our initial shareholders, officers, directors or their affiliates may, but are not obligated to, loan us funds as may be required. In the event that the initial business combination does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts, but no proceeds from our trust account would be used for such repayment. Such loans would be evidenced by promissory notes. The notes would either be paid upon consummation of our initial business combination, without interest, or, at the lender's discretion, up to $1,500,000 of the working capital loans may be converted upon consummation of our business combination into private units at a price of $10.00 per unit. We believe the purchase price of these units will approximate the fair value of such units when issued. However, if it is determined, at the time of issuance, that the fair value of such units exceeds the purchase price, we would record compensation expense for the excess of the fair value of the units on the day of issuance over the purchase price in accordance with Accounting Standards Codification ("ASC") 718 Compensation - Stock Compensation.

Our audit committee will review and approve all reimbursements and payments made to our sponsor or member of our management team, or their respective affiliates, and any reimbursements and payments made to members of our audit committee will be reviewed and approved by our Board of Directors, with any interested director abstaining from such review and approval.

**Controls and Procedures**

We are not currently required to certify the effectiveness of our internal controls as defined by Section 404 of the Sarbanes-Oxley Act. We will be required to comply with the internal control requirements of the Sarbanes-Oxley Act for the fiscal year ending December 31, 2026. Only in the event that we are deemed to be a large accelerated filer or an accelerated filer and no longer qualify as an emerging growth company will we be required to comply with the independent registered public accounting firm attestation requirement on internal control over financial reporting. Further, for as long as we remain an emerging growth company as defined in the JOBS Act, we intend to take advantage of certain exemptions from various reporting requirements, including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirement.

As of the date of this prospectus, we have not completed an assessment, nor have our auditors tested our systems, of internal controls. We expect to assess the internal controls of our target business or businesses prior to the completion of our initial business combination and, if necessary, to implement and test additional controls as we may determine are necessary in order to state that we maintain an effective system of internal controls. A target business may not be in compliance with the provisions of the Sarbanes-Oxley Act regarding the adequacy of internal controls. Target businesses we may consider for our initial business combination may have internal controls that need improvement in areas such as:

● staffing for financial, accounting and external reporting areas, including segregation of duties;

● reconciliation of accounts;

● proper recording of expenses and liabilities in the period to which they relate;

● evidence of internal review and approval of accounting transactions;

● documentation of processes, assumptions and conclusions underlying significant estimates; and

● documentation of accounting policies and procedures.

Because it will take time, management involvement and perhaps outside resources to determine what internal control improvements are necessary for us to meet regulatory requirements and market expectations for our operation of a target business, we may incur significant expense in meeting our public reporting responsibilities, particularly in the areas of designing, enhancing, or remediating internal and disclosure controls. Doing so effectively may also take longer than we expect, thus increasing our exposure to financial fraud or erroneous financing reporting.

Once our management's report on internal controls is complete, we will retain our independent auditors to audit and render an opinion on such report when, or if, required by Section 404. The independent auditors may identify additional issues concerning a target business's internal controls while performing their audit of internal control over financial reporting.

**Quantitative and Qualitative Disclosures about Market Risk**

The net proceeds of this offering, including amounts in the trust account, will be invested in United States government treasury bills, bonds or notes having a maturity of 185 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the Investment Company Act and that invest solely in U.S. treasuries. Due to the short-term nature of these investments, we believe there will be no associated material exposure to interest rate risk.

**Critical Accounting Estimates**

We prepare our financial statements in accordance with accounting principles generally accepted in the United States of America. The preparation of financial statements also requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, costs and expenses and related disclosures. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ significantly from the estimates made by our management. We have not identified any critical accounting estimates.

**Off-Balance Sheet Arrangements; Commitments and Contractual Obligations; Quarterly Results**

As of the date of this prospectus, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments or contractual obligations. No unaudited quarterly operating data is included in this prospectus as we have conducted no operations to date.

**JOBS Act**

On April 5, 2012, the JOBS Act was signed into law. The JOBS Act contains provisions that, among other things, relax certain reporting requirements for qualifying public companies. We will qualify as an "emerging growth company" and under the JOBS Act will be allowed to comply with new or revised accounting pronouncements based on the effective date for private (not publicly traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as a result, we may not comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. As a result, our financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates.

Additionally, we are in the process of evaluating the benefits of relying on the other reduced reporting requirements provided by the JOBS Act. Subject to certain conditions set forth in the JOBS Act, if, as an "emerging growth company", we choose to rely on such exemptions we may not be required to, among other things, (i) provide an independent registered public accounting firm's attestation report on our system of internal controls over financial reporting pursuant to Section 404, (ii) provide all of the compensation disclosure that may be required of non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act, (iii) comply with any requirement that may be adopted by the PCAOB regarding mandatory audit firm rotation or a supplement to the auditor's report providing additional information about the audit and the financial statements (auditor discussion and analysis), and (iv) disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the CEO's compensation to median employee compensation. These exemptions will apply for a period of five years following the completion of this offering or until we are no longer an "emerging growth company," whichever is earlier.

**PROPOSED BUSINESS**

**Introduction**

We are a newly organized blank check company incorporated in June 2025 as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.

Our efforts to identify a prospective target business will not be limited to a particular industry, while we intend to focus on identifying a prospective target business in North America, Europe, Asia or Oceania. We do not have any specific business combination under consideration, and we have not (nor have anyone on our behalf), directly or indirectly, contacted any prospective target business or had any substantive discussions, formal or otherwise, with respect to such a transaction with our company. We may consummate a business combination with an entity located in China. Further, due to the fact that a majority of our executive officers and directors are located in or have significant ties to China, it may make us a less attractive partner to certain potential target businesses, including non-China companies, and such perception may potentially limit or negatively impact our search for an initial business combination or may therefore make it more likely for us to consummate a business combination with a company based in or having the majority of its operations in China.

We intend to capitalize on the ability of our management team to identify, acquire and operate a business or businesses that can benefit from our management team's established relationships and operating experience. Our team of directors and executive officers have an extensive track record of helping enterprises across various industry verticals in creating value for shareholders by acquiring strong businesses at disciplined valuations, investing in growth while fostering financial strategies and ultimately improving financial results. Our team of directors and executive officers consists of experienced entrepreneurs, investment banking, financial services, capital market professionals, senior operating executives, and managers of international companies. In particular, our director, Mr. Angel Colon has served as the independent director of Horizon Space Acquisition I Corp. (Nasdaq: HSPOU) since December 2022, a SPAC currently in search of a target for business combination. We believe we will benefit from their accomplishments in identifying attractive acquisition opportunities.

**Management Team**

Our executive team is comprised of the key members of the management team of Chengye Fund and is supported by directors and other advisors who blend traditional principal investment and M&A expertise, management and operational expertise, and deep experience in financial, strategic and operational enhancement.

With key members of our team having had significant senior executive roles, we believe we are able to identify the characteristics of successful business leaders, and effective in engaging with these management teams.

 ****

***Mr Bo Yan, Ph.D.*** is our chairman of the board of directors and chief executive officer. Dr. Yan has served as our director since our inception. Dr. Yan has approximately 20 years of professional experience in the investment banking and fund management industries. He specializes in formulating investment strategies, managing investor relationships and driving the growth of companies covering a wide range of industries such as technology, consumer goods, manufacturing, clean energy and fintech. From July 2017 to present, Dr. Yan serves as the chairman of the board of directors at Beijing Chengye Fund Management Co., Ltd., an investment management and financial consulting service company. From December 2015 to July 2017, Dr. Yan served as a department general manager in the Beijing branch of Ping An Bank Co., Ltd. From February 2008 to November 2015, Dr. Yan worked at China CITIC Bank Corporation Limited, with his last position there being a department deputy general manager. Earlier in his career, from September 2005 to June 2006, Dr. Yan was in charge of the corporate management affairs at Norstar Automotive Industries Inc. From September 2003 to August 2005, Dr. Yan served as a product manager in Epson Technology (Shenzhen) Ltd. Dr. Yan received his bachelor's degree in engineering from Xi'an Jiaotong University in 2003, his master's degree in finance from Durham University in 2008, and his Ph. D in finance from Central University of Finance and Economics in 2013.

***Mr. Shen Ma*** is our chief financial officer and director nominee. Mr. Ma has approximately 12 years of experience in accounting and investment. From June 2017 to present, he is a partner at Beijing Chengye Fund Management Co., Ltd., administering the financial operations and managing financial process oversight and risk control From July 2013 to February 2016, he served as a product manager at China CITIC Bank Corporation Limited. From February 2016 to June 2017, Mr. Ma was a division manager in the Beijing branch of Ping An Bank Co., Ltd. Mr. Ma received his bachelor's degree in financial management in 2010 and his master's degree in accounting in 2013, from Central University of Finance and Economics.

***Mr. Angel Colon*** is our independent director. Mr. Colon also serves as the independent director of various publicly-listed companies, including Sentage Holdings Inc. (Nasdaq: SNTG) since July 2021, Horizon Space Acquisition I Corp. (Nasdaq: HSPOU) since December 2022 and Netclass Technology Inc. (Nasdaq: NTCL) since December 2024. Mr. Colon also served as the managing director at Entoro Capital, LLC and Entoro Securities, LLC for approximately six years until August 2025, overseeing the firms' financial management, client relations, regulatory compliance and risk assessment. Mr. Colon has served as a managing member of NY Capital Management Group, LLC since January 2017 and Turing Funds, LLC since July 2017, providing services to high net worth individuals, businesses and institutions to produce solutions that facilitate the advancement and management of capital along with the mitigation of risk to achieve dependable annual returns. Mr. Colon received a bachelor of science in international business from St. John Fisher College in 1996. He currently holds FINRA Series 7, Series 63 and Series 65 licenses and is a licensed broker with FINRA.

***Mr. Xiangyi Chen, Ph.D.*** is our independent director nominee and will serve as our independent director upon the effectiveness of our registration statement on Form S-1 of which this prospectus forms a part. Dr. Chen is the founder and manager of Beijing Gaoliang Fund Management Co., Ltd. From March 2015 to July 2022, Dr. Chen was the chief supervisor at Tian'an Life Insurance Co., Ltd., where he was in charge of the overall risk management. From October 2005 to February 2015, he was the deputy general manager overseeing the Securities Daily of the PRC-based Economic Daily Newspaper Group. Since May 2021, Dr. Chen has been serving as an independent director at Shandong Meichen Science & Technology Co., Ltd. (SHE: 300237). Dr. Chen obtains his M.B.A. from Tsinghua University PBC School of Finance in July 2016 and his Ph.D. from Chinese Academy of Social Sciences in economics from in June 2020.

***Mr. Yan Leng*** is our independent director nominee and will serve as our independent director upon the effectiveness of our registration statement on Form S-1 of which this prospectus forms a part. Mr. Leng has nearly 20 years of experience across investment institutions and private equity funds. From September 2024 to present, Mr. Leng served as the co-founder and chief executive officer of Huayi Shengkang Technology Co, Ltd., a company specializing in innovative products and forging strategic partnerships within the health sector. From June 2022 to June 2023, Mr. Leng was the director of the investment center in Greater Bay Area Semiconductor Industry Group Co, Ltd, an investment group based in Guangdong, China. From January 2020 to February 2022, Mr. Leng served as a vice president of the investment division Shanghai and a vice president of risk management department in Sino IC Capital Co., Ltd. Earlier in his career, he was the director of risk management department and director of representative office in South Africa at China-Africa Development Fund from September 2008 to January 2015, and the head of business development at Kaiyu Consulting Co., Ltd. from February 2015 to November 2019. Mr. Leng holds a bachelor's degree in business administration and a master's degree in financial decision analysis from the University of Portsmouth, UK.

A majority of our directors and officers are nationals or residents of the PRC, and all or a substantial portion of their assets are located in the aforementioned locations. As a result, it may be difficult for investors to effect service of process within the United States upon these persons, or to enforce judgments obtained in U.S. courts against them, including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States. It will also be costlier and time-consuming for the investors to effect service of process outside the United States, or to enforce judgments obtained from the U.S. courts in the courts of the jurisdictions where our directors and officers reside. In addition, a judgment of a United States court for civil liabilities predicated upon the federal securities laws of the United States may also not be enforceable in or recognized by the courts of the jurisdictions where our directors and officers reside. As such, it may be difficult for you to enforce judgments obtained in U.S. courts based on the civil liability provisions of the U.S. federal securities laws against us and our officers and directors. As a result of the above, public shareholders may have more difficulty in protecting their interests in the face of actions taken against the management, members of the board of directors or controlling shareholders than they would as public shareholders of a U.S.-incorporated company. See *"Enforcement of Civil Liabilities."*

**Our Value Propositions and Differentiation**

Our management team brings a unique set of operational skills and transaction experience that we believe will be highly relevant for today's entrepreneur. In addition, we believe our management team's capital markets, M&A and capital raising experience will be invaluable to a potential target as they look to ready themselves for a public debut.

&nbsp;&nbsp;&nbsp;&nbsp;·  ***Established Deal Sourcing Network*** . Our management team has extensive connections and long-standing
 relationships to company founders and business leaders across various industries. We believe
 we, through our management team, have contacts and sources from which to generate acquisition
 opportunities and possibly seek complementary follow-on business arrangements. These contacts
 and sources include private equity and venture capital sponsors, executives of public and
 private companies, merger and acquisition advisory firms, investment banks, capital markets
 desks, lenders and other financial intermediaries. We believe such network and our connections
 will assist in the successful selection of our initial business combination and subsequent
 guidance of the company.

&nbsp;&nbsp;&nbsp;&nbsp;·  ***Origination and Investing Experience*** . We believe that our management's track record of
 identifying and sourcing transactions positions us well to appropriately evaluate potential
 business combinations and select one that will be well received by the public markets.

&nbsp;&nbsp;&nbsp;&nbsp;·  ***Execution and Structuring Capability*** . Our management team and sponsor believe that the combined
 expertise and reputation of each of our management team will allow us to source and complete
 transactions possessing structural attributes that create an attractive investment thesis.
 These types of transactions are typically complex and require industry knowledge and expertise,
 rigorous due diligence, and extensive negotiations and documentation. We believe that by
 focusing our investment activities on these types of transactions, we are able to generate
 investment opportunities that have attractive risk/reward profiles based on their valuations
 and structural characteristics.

**Business Strategy and Acquisition Criteria**

Our management team intends to focus on creating shareholder value by leveraging its experience in the management and operation of businesses to improve the efficiency of operations while implementing strategies to scale revenue organically and/or through acquisitions. Consistent with our strategy, we have identified the following general criteria and guidelines that we believe are essential in evaluating prospective target businesses:

● the potential to become an industry leader with a defensible market position that can benefit from our leadership and guidance;

● a strong existing or potential customer base in large addressable market;

● the opportunity to grow at a critical strategic inflection point, such as requiring additional management expertise or access to capital to launch a new phase of growth or corporate/business model evolution;

● an unrecognized value or other characteristics that we can optimize over the long-run to produce outsized investor returns;

● a recurring revenue model with the ability to generate high free cash flow;

● a need for capital to achieve the company's growth strategy, which we believe have been misevaluated by the marketplace based on our analysis and due diligence review;

● the ability to offer an attractive risk-adjusted return for our shareholders, having realized large investment successes with minimal failures of meaningful size;

● a fundamentally sound business whose products and/or services are necessary to the continuing function of a core economic industry or service; and

● the ability to benefit from being publicly traded and utilize access to broader capital markets.

While we intend to use these criteria and guidelines in evaluating prospective businesses, we may deviate from these criteria and guidelines should we consider it appropriate to do so. These criteria are not intended to be exhaustive. Any evaluation relating to the merits of a particular initial business combination may be based, to the extent relevant, on these general guidelines as well as other considerations, factors and criteria that our management may deem relevant.

**Sponsor Information**

Our sponsor is a BVI business company, which was formed in February 2024 to invest in our company. Although our sponsor is permitted to undertake any activities as permitted under the laws of the British Virgin Islands, our sponsor's business is focused on investing in our company. Dr. Bo Yan is the sole member and sole director of Issacyan Co., Ltd. and holds voting and investment discretion with respect to the ordinary shares held of record by the sponsor.

The following table sets forth the payments to be received by our sponsor and its affiliates from us prior to or in connection with the completion of our initial business combination and the securities issued and to be issued by us to our sponsor or its affiliates:

---

| | | |
|:---|:---|:---|
| **Entity/Individual** | **Amount of Compensation to be Received or Securities Issued or to be Issued** | **Consideration Paid or to be Paid** |
| Issacyan Co., Ltd. | 2,957,143<sup>(1)</sup> Class B ordinary shares | $25000 |
|  | 221,100 private units (up to 234,600 private units if the over-allotment option is exercised in full) | $2,211,000 (up to $2,346,000 if the over-allotment option is exercised in full) |
|  | Up to $500,000 | Repayment of loans made to us by our sponsor to cover offering-related and organizational expenses. |
|  | $10,000 per month | Office space, administrative and support services |
|  | Up to $1,500,000 in working capital loans may be convertible into units at a price of $10.00 per unit | Working capital loans to finance transaction costs in connection with an intended initial business combination. |
|  | Reimbursement for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination | Services in connection with identifying, investigating and completing an initial business combination. |

---

(1) Including up to 385,714 shares that are subject to forfeiture depending on the extent to which the underwriter's over-allotment option is exercised.

**Our Business Combination Process**

In evaluating a prospective target business, we expect to conduct a thorough due diligence review that will encompass, among other things, meetings with incumbent management and employees, document reviews, interviews of customers and suppliers, inspection of facilities, as well as reviewing financial and other information that will be made available to us. We will also utilize our operational and capital allocation experience in connection with such assessment.

Our acquisition criteria, due diligence processes and value creation methods are not intended to be exhaustive. Any evaluation relating to the merits of a particular initial business combination may be based, to the extent relevant, on these general guidelines as well as other considerations, factors and criteria that our management may deem relevant. In the event that we decide to enter into our initial business combination with a target business that does not meet the above criteria and guidelines, we will disclose that the target business does not meet the above criteria in our shareholder communications related to our initial business combination, which, as discussed in this prospectus, would be in the form of tender offer documents or proxy solicitation materials that we would file with the SEC.

**Sourcing of Potential Business Combination Targets**

We believe that the operational and transactional experience of our management team and our sponsor and their respective affiliates and related entities and the relationships they have developed as a result of such experience, will provide us with a substantial number of potential business combination targets. These individuals and entities have developed a broad network of contacts and corporate relationships around the world. This network has grown through sourcing, acquiring and financing businesses and maintaining relationships with sellers, financing sources and target management teams. Our management team and members of our sponsor and their respective affiliates and related entities have significant experience in executing transactions under varying economic and financial market conditions. We believe that these networks of relationships and this experience will provide us with important sources of investment opportunities. In addition, we anticipate that target business candidates may be brought to our attention from various unaffiliated sources, including investment market participants, private equity funds and large business enterprises seeking to divest noncore assets or divisions.

We are not prohibited from pursuing an initial business combination with a business combination target that is affiliated with our sponsor, officers or directors (or their respective affiliates or related entities) or making the acquisition through a joint venture or other form of shared ownership with our sponsor, officers or directors (or their respective affiliates or related entities). In the event we seek to complete our initial business combination with a company that is affiliated with our sponsor, officers or directors (or their respective affiliates or related entities), we, or a committee of independent directors, may obtain an opinion from an independent investment banking firm or another independent firm that commonly renders valuation opinions for the type of company we are seeking to acquire or an independent accounting firm that our initial business combination is fair to our company from a financial point of view.

**Other Acquisition Considerations**

In addition to our sponsor, members of our management team may directly or indirectly own our ordinary shares and/or private units following this offering, and, accordingly, may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination. Further, each of our officers and directors may have a conflict of interest with respect to evaluating a particular business combination if the retention or resignation of any such officers and directors was included by a target business as a condition to any agreement with respect to our initial business combination.

Each of our directors and officers presently has, and in the future any of our directors and our officers may have, additional fiduciary or contractual obligations to other entities pursuant to which such officer or director is or will be required to present acquisition opportunities to such entity. Accordingly, subject to his or her fiduciary duties under Cayman Islands law, if any of our officers or directors becomes aware of an acquisition opportunity which is suitable for an entity to which he or she has then current fiduciary or contractual obligations, he or she will need to honor his or her fiduciary or contractual obligations to present such acquisition opportunity to such entity, and only present it to us if such entity rejects the opportunity. Our post-offering memorandum and articles of association will provide that, subject to his or her fiduciary duties under Cayman Islands law, no director or officer shall be disqualified or prevented from contracting with the company nor shall any contract or transaction entered into by or on behalf of the company in which any director shall have an interest be liable to be avoided. A director shall be at liberty to vote in respect of any contract or transaction in which he or she is interested, provided that the nature of such interest shall be disclosed at or prior to its consideration or any vote thereon by the board of directors. We do not believe, however, that any fiduciary duties or contractual obligations of our directors or officers would materially undermine our ability to complete our business combination.

Our officers and directors have agreed not to become an officer or director of, any other special purpose acquisition company with a class of securities registered under the Exchange Act until we have entered into a definitive agreement regarding our initial business combination or we have failed to complete our initial business combination within the required time period.

**Initial Business Combination**

The rules of the Nasdaq require that our initial business combination must be with one or more operating businesses or assets with a fair market value equal to at least 80% of the net assets held in the trust account (excluding any deferred underwriting discounts and commissions and taxes payable on the income earned on the trust account). We refer to this as the "80% of net assets test." If our board of directors is not able to independently determine the fair market value of the target business or businesses, we will obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction of such criteria. We do not currently intend to purchase multiple businesses in unrelated industries in conjunction with our initial business combination, although there is no assurance that will be the case.

If our board of directors cannot independently determine the fair market value of the target business or businesses, we will obtain an opinion from an independent investment banking firm, another independent firm that commonly renders valuation opinions for the type of company we are seeking to acquire or from an independent accounting firm that the price we are paying for a target is fair to our company from a financial point of view. If no opinion is obtained, our shareholders will be relying on the business judgment of our board of directors, which will have significant discretion in choosing the standard used to establish the fair market value of the target or targets, and different methods of valuation may vary greatly in outcome from one another. Such standards used will be disclosed in our tender offer documents or proxy solicitation materials, as applicable, related to our initial business combination.

We will have until 15 months from the closing of this offering or during any extension period to consummate an initial business combination. However, if we anticipate that we may not be able to consummate our initial business combination within 15 months, we may seek shareholder approval to amend our memorandum and articles of association to extend the date by which we must consummate our initial business combination (as well as to modify the substance or timing of our obligation to redeem 100% of our public shares if we have not consummated an initial business combination within the time periods described herein or with respect to any other material provisions relating to shareholders' rights or pre-initial business combination activity).

If we are unable to complete our initial business combination within the completion window, or by such earlier liquidation date as our board of directors may approve, from the closing of this offering, we will redeem 100% of the public shares at a per share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned thereon (net of taxes payable and less up to $100,000 of interest to pay liquidation and dissolution expenses), divided by the number of then issued and outstanding public shares, subject to applicable law and certain conditions as further described herein. We expect the pro rata redemption price to be approximately $10.00 per public share (regardless of whether or not the underwriter exercises its over-allotment option), without taking into account any interest or other income earned on such funds. However, we cannot assure you that we will in fact be able to distribute such amounts as a result of claims of creditors, which may take priority over the claims of our public shareholders.

We anticipate structuring our initial business combination so that the post-transaction company in which our public shareholders own shares will own or acquire 100% of the equity interests or assets of the target business or businesses. We may, however, structure our initial business combination such that the post-transaction company owns or acquires less than 100% of such interests or assets of the target business in order to meet certain objectives of the target management team or shareholders or for other reasons. However, we will only complete such business combination if the post-transaction company owns or acquires 50% or more of the issued and outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended, or the Investment Company Act. Even if the post-transaction company owns or acquires 50% or more of the voting securities of the target, our shareholders prior to the business combination may collectively own a minority interest in the post-transaction company, depending on valuations ascribed to the target and us in the business combination transaction. For example, we could pursue a transaction in which we issue a substantial number of new shares in exchange for all of the issued and outstanding capital stock, shares and/or other equity interests of a target. In this case, we would acquire a 100% controlling interest in the target. However, as a result of the issuance of a substantial number of new shares, our shareholders immediately prior to our initial business combination could own less than a majority of our issued and outstanding shares subsequent to our initial business combination. If less than 100% of the equity interests or assets of a target business or businesses are owned or acquired by the post-transaction company, the portion of such business or businesses that is owned or acquired is what will be valued for purposes of the 80% of net assets test.

**Corporate Information**

We are a Cayman Islands exempted company incorporated on June 25, 2025. Our executive office is located at Room 1018, CYTS Plaza, No.5 Dongzhimen South Avenue, Dongcheng District, Beijing, China 100007, and our telephone number is +86-10 6600 6177. Exempted companies are Cayman Islands companies conducting business mainly outside the Cayman Islands and, as such, are exempted from complying with certain provisions of the Companies Act.

We are an "emerging growth company," as defined in Section 2(a) of the Securities Act of 1933, as amended (the "Securities Act"), as modified by the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"). As such, we are eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies," including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. If some investors find our securities less attractive as a result, there may be a less active trading market for our securities and the prices of our securities may be more volatile.

In addition, Section 107 of the JOBS Act also provides that an "emerging growth company" can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an "emerging growth company" can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We intend to take advantage of the benefits of this extended transition period.

We will remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the completion of this offering, (b) in which we have total annual gross revenue of at least $1.235 billion, or (c) in which we are deemed to be a large accelerated filer, which means the market value of our ordinary shares that are held by non-affiliates exceeds $700 million as of the end of that year's second fiscal quarter, and (2) the date on which we have issued more than $1.0 billion in non-convertible debt during the prior three year period.

Additionally, we are a "smaller reporting company" as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited financial statements. We will remain a smaller reporting company until the last day of the fiscal year in which (1) the market value of our ordinary shares held by non-affiliates exceeds $250 million as of the end of that year's second fiscal quarter, or (2) our annual revenues exceeded $100 million during such completed fiscal year and the market value of our ordinary shares held by non-affiliates exceeds $700 million as of the end of that year's second fiscal quarter. To the extent we take advantage of such reduced disclosure obligations, it may also make comparison of our financial statements with other public companies difficult or impossible.

**Financial Position**

We may obtain additional financing to complete our initial business combination, for example, because the transaction requires more cash than is available from the proceeds held in our trust account or because we become obligated to redeem a significant number of our public shares upon completion of the business combination, in which case we may issue additional securities or incur debt in connection with such business combination. We may also obtain financing prior to the closing of our initial business combination to fund our working capital needs and transaction costs in connection with our search for and completion of our initial business combination. There is no limitation on our ability to raise funds through the issuance of equity or equity-linked securities or through loans, advances or other indebtedness in connection with our initial business combination, including pursuant to forward purchase agreements or backstop agreements we may enter into following consummation of this offering. Subject to compliance with applicable securities laws, we would only complete such financing simultaneously with the completion of our initial business combination. If we are unable to complete our initial business combination because we do not have sufficient funds available to us, we will be forced to liquidate the trust account. In addition, following our initial business combination, if cash on hand is insufficient, we may need to obtain additional financing in order to meet our obligations.

**Effecting Our Initial Business Combination**

***General***

We are not presently engaged in, and we will not engage in, any operations for an indefinite period of time following this offering. We intend to effectuate our initial business combination using cash from the proceeds of this offering and the sale of the private units, the proceeds of the sale of our shares in connection with our initial business combination (pursuant to forward purchase agreements or backstop agreements we may enter into following the consummation of this offering or otherwise), shares issued to the owners of the target, debt issued to bank or other lenders or the owners of the target, or a combination of the foregoing or other sources. We may seek to complete our initial business combination with a company or business that may be financially unstable or in its early stages of development or growth, which would subject us to the numerous risks inherent in such companies and businesses.

If our initial business combination is paid for using equity or debt, or not all of the funds released from the trust account are used for payment of the consideration in connection with our initial business combination or used for redemptions of our ordinary shares, we may apply the balance of the cash released to us from the trust account for general corporate purposes, including for the maintenance or expansion of operations of the post- business combination company, the payment of principal or interest due on indebtedness incurred in completing our initial business combination, to fund the purchase of other companies or for working capital.

We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions with any business combination target. Additionally, we have not engaged or retained any agent or other representative to identify or locate any suitable acquisition candidate, to conduct any research, or to take any measures, directly or indirectly, to locate or contact a target business. Accordingly, there is no current basis for investors in this offering to evaluate the possible merits or risks of the target business with which we may ultimately complete our initial business combination. Although our management will assess the risks inherent in a particular target business with which we may combine, we cannot assure you that this assessment will result in our identifying all risks that a target business may encounter. Furthermore, some of those risks may be outside of our control, meaning that we can do nothing to control or reduce the chances that those risks will adversely affect a target business.

We may need to obtain additional financing to complete our initial business combination, either because the transaction requires more cash than is available from the proceeds held in our trust account, or because we become obligated to redeem a significant number of our public shares upon the completion of our initial business combination, in which case we may issue additional securities or incur debt in connection with such business combination. There are no prohibitions on our ability to issue securities or incur debt in connection with our initial business combination. Other than the potential availability of the backstop arrangement with our sponsor, we are not currently a party to any arrangement or understanding with any third party with respect to raising any additional funds through the sale of securities, the incurrence of debt or otherwise.

***Sources of Target Businesses***

We are not prohibited from pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors. In the event we seek to complete our initial business combination with a company that is affiliated with our sponsor or any of our officers or directors, we, or a committee of independent directors, may obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions that such initial business combination is fair to our company from a financial point of view.

Our officers and directors presently have, or may in the future have, additional fiduciary or contractual obligations to other entities, including entities that are affiliates of our sponsor, pursuant to which such officer or director is or will be required to present a business combination opportunity to such entity. Accordingly, if any of our officers or directors becomes aware of a business combination opportunity that is suitable for an entity to which he or she has then-current fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such business combination opportunity to such entity, subject to their fiduciary duties under Cayman Islands law. See *"Management — Conflicts of Interest."*

***Evaluation of a Target Business and Structuring of Our Initial Business Combination***

In evaluating a prospective target business, we expect to conduct an extensive due diligence review, which may encompass, as applicable and among other things, meetings with incumbent management and employees, document reviews, interviews of customers and suppliers, inspection of facilities and a review of financial and other information about the target and its industry. We will also utilize our management team's operational and capital planning experience. If we determine to move forward with a particular target, we will proceed to structure and negotiate the terms of the business combination transaction.

The time required to select and evaluate a target business and to structure and complete our initial business combination, and the costs associated with this process, are not currently ascertainable with any degree of certainty. Any costs incurred with respect to the identification and evaluation of, and negotiation with, a prospective target business with which our initial business combination is not ultimately completed will result in our incurring losses and will reduce the funds we can use to complete another business combination. The company will not pay any consulting fees to members of our management team, or their respective affiliates, for services rendered to or in connection with our initial business combination. In addition, we have agreed not to enter into a definitive agreement regarding an initial business combination without the prior consent of our sponsor.

***Lack of Business Diversification***

For an indefinite period of time after the completion of our initial business combination, the prospects for our success may depend entirely on the future performance of a single business. Unlike other entities that have the resources to complete business combinations with multiple entities in one or several industries, it is probable that we will not have the resources to diversify our operations and mitigate the risks of being in a single line of business. By completing our initial business combination with only a single entity, our lack of diversification may:

● subject us to negative economic, competitive and regulatory developments, any or all of which may have a substantial adverse impact on the particular industry in which we operate after our initial business combination; and

● cause us to depend on the marketing and sale of a single product or limited number of products or services.

***Limited Ability to Evaluate the Target's Management Team***

Although we intend to closely scrutinize the management of a prospective target business when evaluating the desirability of effecting our initial business combination with that business, our assessment of the target business's management may not prove to be correct. In addition, the future management may not have the necessary skills, qualifications or abilities to manage a public company. Furthermore, the future role of members of our management team, if any, in the target business cannot presently be stated with any certainty. The determination as to whether any of the members of our management team will remain with the combined company will be made at the time of our initial business combination. While it is possible that one or more of our directors will remain associated in some capacity with us following our initial business combination, it is unlikely that any of them will devote their full efforts to our affairs subsequent to our initial business combination. Moreover, we cannot assure you that members of our management team will have significant experience or knowledge relating to the operations of the particular target business.

We cannot assure you that any of our key personnel will remain in senior management or advisory positions with the combined company. The determination as to whether any of our key personnel will remain with the combined company will be made at the time of our initial business combination. Following a business combination, we may seek to recruit additional managers to supplement the incumbent management of the target business. We cannot assure you that we will have the ability to recruit additional managers, or that additional managers will have the requisite skills, knowledge or experience necessary to enhance the incumbent management.

***Shareholders May Not Have the Ability to Approve Our Initial Business Combination***

We may conduct redemptions without a shareholder vote pursuant to the tender offer rules of the SEC, subject to the provisions of our post-offering memorandum and articles of association. However, we will seek shareholder approval if it is required by applicable law or stock exchange listing requirement, or we may decide to seek shareholder approval for business or other reasons.

Pursuant to Rule 5635 of the Nasdaq, shareholder approval would typically be required for our initial business combination if, for example:

● we issue ordinary shares that will be equal to or in excess of 20% of the number of our ordinary shares then-outstanding (other than in a public offering);

● any of our officers, directors or substantial security holders (as defined by the Nasdaq rules) has a 5% or greater interest, directly or indirectly, in the target business or assets to be acquired or otherwise, and the present or potential issuance of ordinary shares could result in an increase in issued and outstanding ordinary shares or voting power of 1% or more (or 5% or more if the related party involved is classified as such solely because such person is a substantial security holder); or

● the issuance or potential issuance of ordinary shares will result in our undergoing a change of control.

The decision as to whether we will seek shareholder approval of a proposed business combination in those instances in which shareholder approval is not required by law will be made by us, solely in our discretion, and will be based on business and reasons, which include a variety of factors, including, but not limited to:

● the timing of the transaction, including in the event we determine shareholder approval would require additional time and there is either not enough time to seek shareholder approval or doing so would place the company at a disadvantage in the transaction or result in other additional burdens on the company;

● the expected cost of holding a shareholder vote;

● other time and budget constraints of the company; and

● additional legal complexities of a proposed business combination that would be time-consuming and burdensome to present to shareholders.

***Permitted Purchases and Other Transactions with Respect to Our Securities***

If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our sponsor, officers, directors, advisors or their affiliates may purchase public shares in privately negotiated transactions or in the open market either prior to or following the completion of our initial business combination. Additionally, at any time at or prior to our initial business combination, subject to applicable securities laws (including with respect to material nonpublic information), our sponsor, officers, directors, advisors or their affiliates may enter into transactions with investors and others to provide them with incentives to acquire public shares, vote their public shares in favor of our initial business combination or not redeem their public shares. However, they have no current commitments, plans or intentions to engage in such transactions and have not formulated any terms or conditions for any such transactions. None of the funds in the trust account will be used to purchase public shares in such transactions. If they engage in such transactions, they will be restricted from making any such purchases when they are in possession of any material non-public information not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange Act.

In the event that our sponsor, officers, directors, advisors or their affiliates purchase public shares in privately negotiated transactions from public shareholders who have already elected to exercise their redemption rights or submitted a proxy to vote against our initial business combination, such selling shareholders would be required to revoke their prior elections to redeem their shares and any proxy to vote against our initial business combination. We do not currently anticipate that such purchases, if any, would constitute a tender offer subject to the tender offer rules under the Exchange Act or a going-private transaction subject to the going-private rules under the Exchange Act; however, if the purchasers determine at the time of any such purchases that the purchases are subject to such rules, the purchasers will be required to comply with such rules.

The purpose of any such transaction could be to (i) vote in favor of the business combination and thereby increase the likelihood of obtaining shareholder approval of the business combination or (ii) satisfy a closing condition in an agreement with a target that requires us to have a minimum net worth or a certain amount of cash at the closing of our initial business combination, where it appears that such requirement would otherwise not be met.

In addition, if such purchases are made, the public "float" of our ordinary shares or rights may be reduced and the number of beneficial holders of our securities may be reduced, which may make it difficult to maintain or obtain the quotation, listing or trading of our securities on a national securities exchange.

Our sponsor, officers, directors and/or their affiliates anticipate that they may identify the shareholders with whom they may pursue privately negotiated transactions by either the shareholders contacting us directly or by our receipt of redemption requests submitted by shareholders (in the case of Class A ordinary shares) following our mailing of tender offer or proxy materials in connection with our initial business combination. To the extent that our sponsor, officers, directors, advisors or their affiliates enter into a private transaction, they would identify and contact only potential selling or redeeming shareholders who have expressed their election to redeem their shares for a pro rata share of the trust account or vote against our initial business combination, whether or not such shareholder has already submitted a proxy with respect to our initial business combination, but only if such shares have not already been voted at the general meeting related to our initial business combination. Our sponsor, officers, directors, advisors or their affiliates will select which shareholders to purchase shares from based on the negotiated price and number of shares and any other factors that they may deem relevant, and will be restricted from purchasing shares if such purchases do not comply with Regulation M under the Exchange Act and the other federal securities laws.

Our sponsor, officers, directors and/or their affiliates will be restricted from making purchases of shares if the purchases would violate Section 9(a)(2) or Rule 10b-5 of the Exchange Act. We expect any such purchases would be reported by such person pursuant to Section 13 and Section 16 of the Exchange Act to the extent such purchasers are subject to such reporting requirements.

***Redemption Rights for Public Shareholders upon the Completion of Our Initial Business Combination***

We will provide our public shareholders with the opportunity to redeem all or a portion of their ordinary shares upon the completion of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned thereon (net of taxes payable), divided by the number of then issued and outstanding public shares, subject to applicable law and certain conditions as further described herein. The amount in the trust account is initially anticipated to be $10.0 per public share.

The redemption rights will include the requirement that a beneficial holder must identify itself in order to validly redeem its shares. Further, we will not proceed with redeeming our public shares, even if a public shareholder has properly elected to redeem its shares, if a business combination does not close. Our sponsor, officers and directors [have entered] into a letter agreement with us, pursuant to which they [have agreed] to waive their redemption rights with respect to any founder shares and public shares held by them in connection with (i) the completion of our initial business combination and (ii) a shareholder vote to approve an amendment to our post-offering memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within the completion window or (B) with respect to any other provision relating to the rights of holders of our ordinary shares.

***Manner of Conducting Redemptions***

We will provide our public shareholders with the opportunity to redeem all or a portion of their ordinary shares upon the completion of our initial business combination either (i) in connection with a general meeting called to approve the business combination or (ii) by means of a tender offer. The decision as to whether we will seek shareholder approval of a proposed business combination or conduct a tender offer will be made by us, solely in our discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would require us to seek shareholder approval under applicable law or stock exchange listing requirement or whether we were deemed to be a foreign private issuer (which would require a tender offer rather than seeking shareholder approval under SEC rules). Asset acquisitions and share purchases would not typically require shareholder approval, while direct mergers with our company and any transactions where we issue more than 20% of our issued and outstanding ordinary shares or seek to amend our memorandum and articles of association would typically require shareholder approval. We currently intend to conduct redemptions in connection with a shareholder vote unless shareholder approval is not required by applicable law or stock exchange listing requirement or we choose to conduct redemptions pursuant to the tender offer rules of the SEC for business or other reasons. So long as we obtain and maintain a listing for our securities on the Nasdaq, we will be required to comply with the Nasdaq rules.

If we held a shareholder vote to approve our initial business combination, we will, pursuant to our post-offering memorandum and articles of association:

● conduct the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of the Exchange Act, which regulates the solicitation of proxies, and not pursuant to the tender offer rules; and

● file proxy materials with the SEC.

In the event that we seek shareholder approval of our initial business combination, we will distribute proxy materials and, in connection therewith, provide our public shareholders with the redemption rights described above upon the completion of our initial business combination.

If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law and our post-offering memorandum and articles of association, however, if our initial business combination is structured as a statutory merger or consolidation with another company under Cayman Islands law, the approval of our initial business combination will require a special resolution under Cayman Islands law and our post-offering memorandum and articles of association. In any such case, our initial shareholder [has agreed] to vote its founder shares and public shares in favor of our initial business combination. As a result, in addition to the founder shares, Representative Shares and A.G.P. Shares, we would need 1,679,836 Class A ordinary shares, or 28.0% for an ordinary resolution, or 3,193,591 Class A ordinary shares, or 53.2% for a special resolution, (assuming all issued and outstanding shares are voted and the over-allotment option is not exercised), of the 6,000,000 public shares sold in this offering to be voted in favor of an initial business combination in order to have our initial business combination approved. Assuming that only the holders of one-third of our issued and outstanding ordinary shares, representing a quorum under our post-offering memorandum and articles of association, vote their shares at a general meeting of the company, we will not need any public shares in addition to our founder shares, private shares and shares held by A.G.P. to be voted in favor of an initial business combination in order to approve an initial business combination. Each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction or vote at all.

If we conduct redemptions pursuant to the tender offer rules of the SEC, we will, pursuant to our post-offering memorandum and articles of association:

● conduct the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers; and

● file tender offer documents with the SEC prior to completing our initial business combination, which contain substantially the same financial and other information about the initial business combination and the redemption rights as is required under Regulation 14A of the Exchange Act, which regulates the solicitation of proxies.

Upon the public announcement of our initial business combination, if we elect to conduct redemptions pursuant to the tender offer rules, we and our sponsor will terminate any plan established in accordance with Rule 10b5-1 to purchase ordinary shares in the open market, in order to comply with Rule 14e-5 under the Exchange Act.

In the event we conduct redemptions pursuant to the tender offer rules, our offer to redeem will remain open for at least 20 business days, in accordance with Rule 14e-1(a) under the Exchange Act, and we will not be permitted to complete our initial business combination until the expiration of the tender offer period. In addition, the tender offer will be conditioned on public shareholders not tendering more than the number of public shares we are permitted to redeem. If public shareholders tender more shares than we have offered to purchase, we will withdraw the tender offer and not complete such initial business combination.

***Redemption of Public Shares and Liquidation If No Initial Business Combination***

If we do not complete a business combination within the completion window, it will trigger our automatic winding up, liquidation and subsequent dissolution pursuant to the terms of our post-offering memorandum and articles of association. As a result, this has the same effect as if we had formally gone through a voluntary liquidation procedure under the Companies Act. Accordingly, no vote would be required from our shareholders to commence such a voluntary winding up, liquidation and subsequent dissolution. If we are unable to consummate our initial business combination within such time period, we will, as promptly as possible but not more than ten (10) business days thereafter, redeem 100% of our issued and outstanding public shares for a pro rata portion of the funds held in the trust account, including a pro rata portion of any interest earned on the funds held in the trust account and not necessary to pay our taxes, then seek to liquidate and dissolve. However, we may not be able to distribute such amounts as a result of claims of creditors which may take priority over the claims of our public shareholders.

The amount in the trust account will be treated as funds distributable under the Companies Act provided that immediately following the date on which the proposed distribution is proposed to be made, we are able to pay our debts as they fall due in the ordinary course of business. If we are forced to liquidate the trust account, we anticipate that we would distribute to our public shareholders the amount in the trust account (including any accrued interest net of taxes payable). Prior to such distribution, we would be required to assess all claims that may be potentially brought against us by our creditors for amounts they are actually owed and make provision for such amounts, as creditors take priority over our public shareholders with respect to amounts that are owed to them. We cannot assure you that we will properly assess all claims that may be potentially brought against us. As such, our shareholders could potentially be liable for any claims of creditors to the extent of distributions received by them as an unlawful payment in the event we enter an insolvent liquidation. Furthermore, while we will seek to have all vendors and service providers (which would include any third parties we engaged to assist us in any way in connection with our search for a target business) and prospective target businesses execute agreements with us waiving any right, title, interest or claim of any kind they may have in or to any monies held in the trust account, there is no guarantee that they will execute such agreements. Nor is there any guarantee that, even if such entities execute such agreements with us, they will not seek recourse against the trust account or that a court would conclude that such agreements are legally enforceable.

Each of our initial shareholder and our officers and directors [have agreed] to waive its rights to participate in any liquidation of our trust account or other assets with respect to the private shares, Representative Shares and A.G.P. Shares, and to vote such shares in favor of any dissolution and plan of distribution which we submit to a vote of shareholders.

If we are unable to complete an initial business combination and expend all of the net proceeds of this offering, other than the proceeds deposited in the trust account, and without taking into account interest, if any, earned on the trust account, the initial per-share redemption price from the trust account would be $10.0.

The proceeds deposited in the trust account could, however, become subject to the claims of our creditors which would be prior to the claims of our public shareholders. Although we will seek to have all vendors, including lenders for money borrowed, prospective target businesses or other entities we engage execute agreements with us waiving any right, title, interest or claim of any kind in or to any monies held in the trust account for the benefit of our public shareholders, there is no guarantee that they will execute such agreements or even if they execute such agreements that they would be prevented from bringing claims against the trust account, including but not limited to, fraudulent inducement, breach of fiduciary responsibility or other similar claims, as well as claims challenging the enforceability of the waiver, in each case in order to gain an advantage with a claim against our assets, including the funds held in the trust account. If any third party refused to execute an agreement waiving such claims to the monies held in the trust account, we would perform an analysis of the alternatives available to us if we chose not to engage such third party and evaluate if such engagement would be in the best interest of our shareholders if such third party refused to waive such claims. Examples of possible instances where we may engage a third party that refused to execute a waiver include the engagement of a third party consultant whose particular expertise or skills are believed by management to be significantly superior to those of other consultants that would agree to execute a waiver or in cases where management is unable to find a provider of required services willing to provide the waiver. In any event, our management would perform an analysis of the alternatives available to it and would only enter into an agreement with a third party that did not execute a waiver if management believed that such third party's engagement would be significantly more beneficial to us than any alternative. In addition, there is no guarantee that such entities will agree to waive any claims they may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with us and will not seek recourse against the trust account for any reason.

Our sponsor [has agreed] that, if we liquidate the trust account prior to the consummation of a business combination, it will be liable to pay debts and obligations to target businesses or vendors or other entities that are owed money by us for services rendered or contracted for or products sold to us in excess of the net proceeds of this offering not held in the trust account, but only to the extent necessary to ensure that such debts or obligations do not reduce the amounts in the trust account and only if such parties have not executed a waiver agreement. However, we cannot assure you that it will be able to satisfy those obligations if it is required to do so. Accordingly, the actual per-share redemption price could be less than $10.0 due to claims of creditors. Additionally, if we are forced to file a bankruptcy case or an involuntary bankruptcy case is filed against us which is not dismissed, the proceeds held in the trust account could be subject to applicable bankruptcy law, and may be included in our bankruptcy estate and subject to the claims of third parties with priority over the claims of our shareholders. To the extent any bankruptcy claims deplete the trust account, we cannot assure you we will be able to return to our public shareholders at least $10.0 per share.

**Comparison of This Offering to Those of Blank Check Companies Subject to Rule 419**

The following table compares the terms of this offering to the terms of an offering by a blank check company subject to the provisions of Rule 419. This comparison assumes that the gross proceeds, underwriting commissions and underwriting expenses of our offering would be identical to those of an offering undertaken by a company subject to Rule 419, and that the underwriter will not exercise its over-allotment option. None of the provisions of Rule 419 apply to our offering.

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|:---|:---|:---|
| | **Terms of Our Offering** | **Terms Under a Rule 419 Offering** |
| **Escrow of offering proceeds** | $60,000,000 of the net proceeds of this offering and the sale of the private units will be deposited into a trust account located in the United States, with acting as trustee. | Approximately $57.0 million of the offering proceeds, representing the gross proceeds of this offering less allowable underwriting commissions, expenses and company deductions under Rule 419, would be required to be deposited into either an escrow account with an insured depositary institution or in a separate bank account established by a broker-dealer in which the broker-dealer acts as trustee for persons having the beneficial interests in the account. |
| **Investment of net proceeds** | $60,000,000 of the net proceeds of this offering held in the trust account will be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act that invest only in direct U.S. government treasury obligations | Proceeds could be invested only in specified securities such as a money market fund meeting conditions of the Investment Company Act or in securities that are direct obligations of, or obligations guaranteed as to principal or interest by, the United States.<br>|
| **Receipt of interest on escrowed funds** | Interest income (if any) on proceeds from the trust account to be paid to shareholders is reduced by (i) any income taxes paid or payable and (ii) in the event of our liquidation for failure to complete our initial business combination within the allotted time, up to $100,000 of net interest that may be released to us should we have no or insufficient working capital to fund the costs and expenses of our dissolution and liquidation. | Interest income on funds in escrow account would be held for the sole benefit of investors, unless and only after the funds held in escrow were released to us in connection with our completion of a business combination.<br>|
| **Limitation on fair value or net assets of target business** | Nasdaq rules require that our initial business combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of our assets held in the trust account (excluding the amount of deferred underwriting commissions held in trust and taxes payable on the income earned on the trust account) at the time of signing the agreement to enter into the initial business combination. If our securities are not then listed on Nasdaq for whatever reason, we would no longer be required to meet the foregoing 80% of net asset test. | The fair value or net assets of a target business must represent at least 80% of the maximum offering proceeds. |

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|:---|:---|:---|
| **Trading of securities issued** | The units are expected to begin trading on or promptly after the date of this prospectus. The Class A ordinary shares and rights comprising the units will begin separate trading on the5 2th day following the date of this prospectus, unless the underwriter informs us of its decision to allow earlier separate trading, subject to our having filed the Current Report on Form 8-K described below and having issued a press release announcing when such separate trading will begin. We will file the Current Report on Form 8-K promptly after the closing of this offering. If the over-allotment option is exercised following the initial filing of such Current Report on Form 8-K, a second or amended Current Report on Form 8-K will be filed to provide updated financial information to reflect the exercise of the over- allotment option.<br>The units will automatically separate into their component parts and will not be traded after the completion of our initial business combination. | No trading of the units or the underlying Class A ordinary shares would be permitted until the completion of a business combination. During this period, the securities would be held in the escrow or trust account. |
| **Election to remain an investor** | We will provide our public shareholders with the opportunity to redeem their public shares for cash at a per share price equal to the aggregate amount then on deposit in the trust account prior to the consummation of our initial business combination, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (net of taxes payable), divided by the number of the then- outstanding public shares, upon the completion of our initial business combination, subject to the limitations described herein.<br>We may not be required by applicable law or stock exchange listing requirement to hold a shareholder vote. If we are not required by applicable law or stock exchange listing requirement and do not otherwise decide to hold a shareholder vote, we will, pursuant to our post-offering memorandum and articles of association, conduct the redemptions pursuant to the tender offer rules of the SEC and file tender offer documents with the SEC, which will contain substantially the same financial and other information about the initial business combination and the redemption rights as is required under the SEC's proxy rules. If, however, we hold a shareholder vote, we will, like many blank check companies, offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law and our post-offering memorandum and articles of association. Additionally, each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction or vote at all. Our post-offering memorandum and articles of association requires that at least five days' notice be given of any such general meeting. | A prospectus containing information pertaining to the business combination required by the SEC would be sent to each investor. Each investor would be given the opportunity to notify the company in writing, within a period of no less than 20 business days and no more than 45 business days from the effective date of a post-effective amendment to the company's registration statement, to decide if he, she or it elects to remain a shareholder of the company or to require the return of his, her or its investment. If the company has not received the notification by the end of the 45th business day, funds and interest or dividends, if any, held in the trust or escrow account are automatically returned to the shareholder. Unless a sufficient number of investors elect to remain investors, all funds on deposit in the escrow account must be returned to all of the investors and none of the securities are issued. |

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|:---|:---|:---|
| **Business combination deadline** | If we have not consummated an initial business combination within 15 months from the closing of this offering or during any extension period, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (net of taxes payable and less up to $100,000 of interest to pay dissolution expenses), divided by the number of the then- outstanding public shares, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject, in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. | If an acquisition has not been completed within 18 months after the effective date of the company's registration statement, funds held in the trust or escrow account are returned to investors. |
| **Release of funds** | Except for the withdrawal of interest income (if any) to pay our income taxes, if any, none of the funds held in trust will be released from the trust account until the earliest of:<br>| The proceeds held in the escrow account are not released until the earlier of the completion of a business combination or the failure to effect a business combination within the allotted time. |

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(i) the
 completion of our initial business combination,

(ii) the
 redemption of our public shares if we have not consummated an initial business combination within the completion window, subject
 to applicable law, and

(iii) the
 redemption of our public shares properly submitted in connection with a shareholder vote to approve an amendment to our post-offering
 memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our
 Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem
 100% of our public shares if we do not complete our initial business combination within 12 months from the closing of this offering
 or during any e xtension period or (B) with respect to any other provision relating to
 the rights of holders of our Class A ordinary shares.

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| **Limitation on redemption rights of shareholders holding more than 15% of the shares sold in this offering if we hold a shareholder vote** | If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, then, pursuant to our post-offering memorandum and articles of association, a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a "group" (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares sold in this offering, without our prior consent. However, we would not be restricting our shareholders' ability to vote all of their shares (including all shares held by those shareholders that hold more than<br>15% of the shares sold in this offering) for or against our initial business combination. | Most blank check companies provide no restrictions on the ability of shareholders to redeem shares based on the number of shares held by such shareholders in connection with an initial business combination. |

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| **Tendering share certificates in connection with a tender offer or redemption rights** | Public shareholders seeking to exercise their redemption rights, whether they are record holders or hold their shares in "street name," will be required to either tender their certificates (if any) to our transfer agent prior to the date set forth in the proxy solicitation or tender offer materials, as applicable, mailed to such holders, or to deliver their shares to the transfer agent electronically using The Depository Trust Company's DWAC (Deposit/ Withdrawal At Custodian) System, at the holder's option, in each case up to two business days prior to the initially scheduled vote to approve the business combination. The proxy solicitation or tender offer materials, as applicable, that we will furnish to holders of our public shares in connection with our initial business combination will indicate the applicable delivery requirements, which will include the requirement that a beneficial holder must identify itself in order to validly redeem its shares. Accordingly, a public shareholder would have from the time we send out our tender offer materials until the close of the tender offer period, or up to two business days prior to the initially scheduled vote on the proposal to approve the business combination if we distribute proxy materials, as applicable, to tender its shares if it wishes to seek to exercise its redemption rights. | In order to perfect redemption rights in connection with their business combinations, holders could vote against a proposed business combination and check a box on the proxy card indicating such holders were seeking to exercise their redemption rights. After the business combination was approved, the company would contact such shareholders to arrange for them to deliver their certificate to verify ownership. |

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**Competition**

In identifying, evaluating and selecting a target business for our initial business combination, we may encounter intense competition from other entities having a business objective similar to ours, including other blank check companies, private equity groups and leveraged buyout funds, public companies and operating businesses seeking strategic acquisitions. Many of these entities are well established and have extensive experience in identifying and effecting business combinations directly or through affiliates. Moreover, many of these competitors possess greater financial, technical, human and other resources than us. Our ability to acquire larger target businesses will be limited by our available financial resources. This inherent limitation gives others an advantage in pursuing the acquisition of a target business. Furthermore, our obligation to pay cash in connection with our public shareholders who exercise their redemption rights may reduce the resources available to us for our initial business combination, and the future dilution they potentially represent may not be viewed favorably by certain target businesses. Either of these factors may place us at a competitive disadvantage in successfully negotiating an initial business combination.

**Facilities**

We currently maintain our executive office at Room 1018, CYTS Plaza, No.5 Dongzhimen South Avenue, Dongcheng District, Beijing, China 100007. We consider our current office space adequate for our current operations.

**Employees**

We currently have two executive officers. These individuals are not obligated to devote any specific number of hours to our matters but they intend to devote as much of their time as they deem necessary to our affairs until we have completed our initial business combination. The amount of time they will devote in any time period will vary based on whether a target business has been selected for our initial business combination and the stage of the business combination process we are in. We do not intend to have any full-time employees prior to the completion of our initial business combination.

**Periodic Reporting and Financial Information**

We will register our units, ordinary shares and rights under the Exchange Act and have reporting obligations, including the requirement that we file annual, quarterly and current reports with the SEC. In accordance with the requirements of the Exchange Act, our annual reports will contain financial statements audited and reported on by our independent registered public accountants.

We will provide shareholders with audited financial statements of the prospective target business as part of the proxy solicitation or tender offer materials, as applicable, sent to shareholders. These financial statements may be required to be prepared in accordance with, or reconciled to, GAAP or IFRS, depending on the circumstances, and the historical financial statements may be required to be audited in accordance with the standards of the PCAOB. These financial statement requirements may limit the pool of potential target businesses we may acquire because some targets may be unable to provide such statements in time for us to disclose such statements in accordance with federal proxy rules and complete our initial business combination within the prescribed time frame. We cannot assure you that any particular target business identified by us as a potential acquisition candidate will have financial statements prepared in accordance with the requirements outlined above, or that the potential target business will be able to prepare its financial statements in accordance with the requirements outlined above. To the extent that these requirements cannot be met, we may not be able to acquire the proposed target business. While this may limit the pool of potential acquisition candidates, we do not believe that this limitation will be material.

We will be required to comply with the internal control requirements of the Sarbanes-Oxley Act. A target company may not be in compliance with the provisions of the Sarbanes-Oxley Act regarding adequacy of their internal controls. The development of the internal controls of any such entity to achieve compliance with the Sarbanes-Oxley Act may increase the time and costs necessary to complete any such acquisition.

We are an emerging growth company as defined in Section 2(a) of the Securities Act, as modified by the JOBS Act. As such, we are eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies" including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. If some investors find our securities less attractive as a result, there may be a less active trading market for our securities and the prices of our securities may be more volatile. We will remain such for up to five years. However, if our non-convertible debt issued within a three-year period or our total revenues exceed $1.235 billion or the market value of our ordinary shares that are held by non-affiliates exceeds $700 million on the last day of the second fiscal quarter of any given fiscal year, we would cease to be an emerging growth company as of the following fiscal year. As an emerging growth company, we have elected, under Section 107(b) of the JOBS Act, to take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards.

**Legal Proceedings**

There is no material litigation, arbitration or governmental proceeding currently pending against us or any members of our management team in their capacity as such.

**MANAGEMENT**

**Officers and Directors**

Our directors, director nominees and executive officers are as follows:

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|:---|:---|:---|
| **Name** | **Age** | **Position with the Company** |
| Bo Yan | 45 | Chairman of the Board of Directors, Chief Executive Officer |
| Shen Ma | 38 | Director Nominee, Chief Financial Officer |
| Angel Colon | 50 | Independent Director |
| Xiangyi Chen | 53 | Independent Director Nominee |
| Yan Leng | 47 | Independent Director Nominee |

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***Management Team***

***Mr Bo Yan, Ph.D.*** is our chairman of the board of directors and chief executive officer. Dr. Yan has served as our director since our inception. Dr. Yan has approximately 20 years of professional experience in the investment banking and fund management industries. He specializes in formulating investment strategies, managing investor relationships and driving the growth of companies covering a wide range of industries such as technology, consumer goods, manufacturing, clean energy and fintech. From July 2017 to present, Dr. Yan served as the chairman of the board of directors at Beijing Chengye Fund Management Co., Ltd. From December 2015 to July 2017, Dr. Yan served as a department general manager in the Beijing Branch of Ping An Bank Co., Ltd. From February 2008 to November 2015, Dr. Yan worked at China CITIC Bank Corporation Limited, with his last position there being a department deputy general manager. Earlier in his career, from September 2005 to June 2006, Dr. Yan was in charge of the corporate management affairs at Norstar Automotive Industries Inc. From September 2003 to August 2005, Dr. Yan served as the a product manager in Epson Technology (Shenzhen) Ltd. Dr. Yan received his bachelor's degree in engineering from Xi'an Jiaotong University in 2003, his master's degree in finance from Durham University in 2008, and his Ph. D in finance from Central University of Finance and Economics in 2013.

***Mr. Shen Ma*** is our chief financial officer and director nominee. Mr. Ma has approximately 12 years of experience in accounting and investment. From June 2017 to present, he was a partner at Beijing Chengye Fund Management Co., Ltd., administering the financial operations and managing financial process oversight and risk control From July 2013 to February 2016, he served as a product manager at China CITIC Bank Corporation Limited. From February 2016 to June 2017, Mr. Ma was a division manager in the Beijing Branch of Ping An Bank Co., Ltd. Mr. Ma received his bachelor's degree in financial management from Central University of Finance and Economics in 2010 and his master's degree in accounting from Central University of Finance and Economics in 2013.

***Mr. Angel Colon*** is our independent director. Mr. Colon also serves as the independent director of various publicly-listed companies, including Sentage Holdings Inc. (Nasdaq: SNTG) since July 2021, Horizon Space Acquisition I Corp. (Nasdaq: HSPOU) since December 2022 and Netclass Technology Inc. (Nasdaq: NTCL) since December 2024. Mr. Colon also served as the managing director at Entoro Capital, LLC and Entoro Securities, LLC for approximately six years until August 2025, overseeing the firms' financial management, client relations, regulatory compliance and risk assessment. Mr. Colon has served as a managing member of NY Capital Management Group, LLC since January 2017 and Turing Funds, LLC since July 2017, providing services to high net worth individuals, businesses and institutions to produce solutions that facilitate the advancement and management of capital along with the mitigation of risk to achieve dependable annual returns. Mr. Colon received a bachelor of science in international business from St. John Fisher College in 1996. He currently holds FINRA Series 7, Series 63 and Series 65 licenses and is a licensed broker with FINRA.

***Mr. Xiangyi Chen, Ph.D.*** is our independent director nominee and will serve as our independent director upon the effectiveness of our registration statement on Form S-1 of which this prospectus forms a part. Dr. Chen is the founder and manager of Beijing Gaoliang Fund Management Co., Ltd. From March 2015 to July 2022, Dr. Chen was the chief supervisor at Tian'an Life Insurance Co., Ltd., where he was in charge of the overall risk management. From October 2005 to February 2015, he was the deputy general manager overseeing the Securities Daily of the PRC-based Economic Daily Newspaper Group. Since May 2021, Dr. Chen has been serving as an independent director at Shandong Meichen Science & Technology Co., Ltd. (SHE: 300237). Dr. Chen obtains his M.B.A. from Tsinghua University PBC School of Finance in July 2016 and his Ph.D. from Chinese Academy of Social Sciences in economics from in June 2020.

***Mr. Yan Leng*** is our independent director nominee and will serve as our independent director upon the effectiveness of our registration statement on Form S-1 of which this prospectus forms a part. Mr. Leng has nearly 20 years of experience across investment institutions and private equity funds. From September 2024 to present, Mr. Leng served as the co-founder and chief executive officer of Huayi Shengkang Technology Co, Ltd., a company specializing in innovative products and forging strategic partnerships within the health sector. From June 2022 to June 2023, Mr. Leng was the director of the investment center in Greater Bay Area Semiconductor Industry Group Co, Ltd, an investment group based in Guangdong, China. From January 2020 to February 2022, Mr. Leng served as a vice president of the investment division Shanghai and a vice president of risk management department in Sino IC Capital Co., Ltd. Earlier in his career, he was the director of risk management department and director of representative office in South Africa at China-Africa Development Fund from September 2008 to January 2015, and the head of business development at Kaiyu Consulting Co., Ltd. from February 2015 to November 2019. Mr. Leng holds a bachelor's degree in business administration and a master's degree in financial decision analysis from the University of Portsmouth, UK.

**Number and Terms of Office of Officers and Directors**

Upon the effectiveness of the registration statement of which this prospectus forms a part, we expect that our Board of Directors will consist of five members. [The term of office will expire at our first annual general meeting. We may not hold an annual meeting of shareholders until after we consummate our initial business combination.]

Our officers are elected by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons to the offices set forth in our amended and restated memorandum and articles of association as it deems appropriate.

Holders of our founder shares will have the right to elect all of our directors prior to consummation of our initial business combination and holders of our public shares will not have the right to vote on the election of directors during such time. These provisions of our amended and restated memorandum and articles of association may only be amended by a special resolution passed by the affirmative vote of at least 90% (or, where such amendment is proposed in respect of the consummation of our initial business combination, two-thirds) of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the company, or a resolution approved in writing by all of the holders of the issued shares entitled to vote on such matter.

**Director Independence**

The Nasdaq listing standards require that a majority of our board of directors be independent. Our board of directors has determined that Mr. Angel Colon, Mr. Xiangyi Chen and Mr. Yan Leng qualify as "independent directors" as defined in the Nasdaq listing standards. Our independent directors will have regularly scheduled meetings at which only independent directors are present.

**Executive Officer and Director Compensation**

None of our executive officers or directors have received any cash compensation for services rendered to us. In addition, our sponsor, executive officers, directors or their respective affiliates will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf, such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made by us to our sponsor, executive officers or directors or their respective affiliates. Any such payments prior to an initial business combination will be made using funds held outside the trust account. Other than audit committee review of such reimbursements, we do not expect to have any additional controls in place governing our reimbursement payments to our executive officers and directors for their out-of-pocket expenses incurred in connection with our activities on our behalf in connection with identifying and consummating an initial business combination. Other than these payments and reimbursements, no compensation of any kind, including finder's and consulting fees, will be paid by the company to our sponsor, executive officers and directors or their respective affiliates, prior to completion of our initial business combination.

After the completion of our initial business combination, directors or members of our management team who remain with us may be paid consulting or management fees from the combined company. All of these fees will be fully disclosed to shareholders, to the extent then known, in the proxy solicitation materials or tender offer materials furnished to our shareholders in connection with a proposed business combination. We have not established any limit on the amount of such fees that may be paid by the combined company to our directors or members of management. It is unlikely the amount of such compensation will be known at the time of the proposed business combination, because the directors of the post-combination business will be responsible for determining executive officer and director compensation. Any compensation to be paid to our executive officers will be determined, or recommended to the board of directors for determination, either by a compensation committee constituted solely by independent directors or by a majority of the independent directors on our board of directors.

We do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation of our initial business combination, although it is possible that some or all of our executive officers and directors may negotiate employment or consulting arrangements to remain with us after our initial business combination. The existence or terms of any such employment or consulting arrangements to retain their positions with us may influence our management's motivation in identifying or selecting a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial business combination will be a determining factor in our decision to proceed with any potential business combination. We are not party to any agreements with our executive officers and directors that provide for benefits upon termination of employment.

**Committees of the Board of Directors**

Upon the effectiveness of the registration statement of which this prospectus forms a part, our board of directors will have three standing committees: an audit committee, a nominating and corporate governance committee and a compensation committee. Subject to phase-in rules and a limited exception, the rules of the Nasdaq and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors. Subject to phase-in rules and a limited exception, the rules of the Nasdaq require that the compensation committee and the nominating and corporate governance committee of a listed company be comprised solely of independent directors.

***Audit Committee***

Our audit committee will consist of Xiangyi Chen, Yan Leng and Angel Colon, and will be chaired by Xiangyi Chen. We have determined that Xiangyi Chen, Yan Leng and Angel Colon satisfy the "independence" requirements of Rule 5605(c)(2) of the Listing Rules of the Nasdaq and meet the independence standards under Rule 10A-3 under the Exchange Act. We have determined that Yan Leng qualifies as an "audit committee financial expert." The audit committee will oversee our accounting and financial reporting processes and the audits of the financial statements of our company. The audit committee will be responsible for, among other things: The audit committee will be responsible for:

● meeting with our independent registered public accounting firm regarding, among other issues, audits and the adequacy of our accounting and control systems;

● monitoring the independence of the independent registered public accounting firm;

● verifying the rotation of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit partner responsible for reviewing the audit as required by law;

● inquiring and discussing with management our compliance with applicable laws and regulations;

● pre-approving all audit services and permitted non-audit services to be performed by our independent registered public accounting firm, including the fees and terms of the services to be performed;

● appointing or replacing the independent registered public accounting firm;

● determining the compensation and oversight of the work of the independent registered public accounting firm (including resolution of disagreements between management and the independent registered public accounting firm regarding financial reporting) for the purpose of preparing or issuing an audit report or related work;

● establishing procedures for the receipt, retention and treatment of complaints received by us regarding accounting, internal accounting controls or reports which raise material issues regarding our financial statements or accounting policies;

● monitoring compliance on a quarterly basis with the terms of this offering and, if any noncompliance is identified, immediately taking all action necessary to rectify such noncompliance or otherwise causing compliance with the terms of this offering; and

● reviewing and approving all payments made to our existing shareholders, officers or directors and their respective affiliates. Any payments made to members of our audit committee will be reviewed and approved by our board of directors, with the interested director or directors abstaining from such review and approval.

***Nominating and Corporate Governance Committee***

Our compensation committee will consist of Yan Leng, Xiangyi Chen and Angel Colon, and will be chaired by Yan Leng. We have determined that Yan Leng, Xiangyi Chen and Angel Colon satisfy the "independence" requirements of Rule 5605(a)(2) of the Listing Rules of the Nasdaq. The compensation committee will assist the board of directors in reviewing and approving the compensation structure, including all forms of compensation, relating to our directors and executive officers. Our executive officers may not be present at any committee meeting during which their compensation is deliberated upon. The compensation committee will be responsible for, among other things:

● reviewing and approving on an annual basis the corporate goals and objectives relevant to our executive officers' compensation, evaluating executive officers' performance in light of such goals and objectives and determining and approving the remuneration (if any) of our executive officers' based on such evaluation;

● reviewing and approving the compensation of all of our other executive officers;

● reviewing our executive compensation policies and plans;

● implementing and administering our incentive compensation equity-based remuneration plans;

● assisting management in complying with our proxy statement and annual report disclosure requirements;

● approving all special perquisites, special cash payments and other special compensation and benefit arrangements for our executive officers and employees;

● if required, producing a report on executive compensation to be included in our annual proxy statement; and

● reviewing, evaluating and recommending changes, if appropriate, to the remuneration for directors.

***Compensation Committee***

Our nominating and corporate governance committee will consist of Angel Colon, Yan Leng and Xiangyi Chen, and will be chaired by Angel Colon. We have determined Angel Colon, Yan Leng and Xiangyi Chen satisfy the "independence" requirements of Rule 5605(a)(2) of the Listing Rules of the Nasdaq. The nominating and corporate governance committee will assist the board of directors in selecting individuals qualified to become our directors and in determining the composition of the board of directors and its committees. The nominating and corporate governance committee will be responsible for, among other things:

● reviewing and approving on an annual basis the corporate goals and objectives relevant to our directors' and executive officers' compensation, evaluating our directors' and executive officers' performance in light of such goals and objectives, and determining and approving the remuneration (if any) of our directors' and executive officers' based on such evaluation;

● reviewing and approving the compensation of all of our other Section 16 executive officers, if any;

● reviewing our executive compensation policies and plans;

● implementing and administering our incentive compensation and equity-based remuneration plans;

● assisting management in complying with our proxy statement and annual report disclosure requirements;

● approving all special perquisites, special cash payments and other special compensation and benefit arrangements for our executive officers and employees;

● producing a report on executive compensation to be included in our annual proxy statement; and

● reviewing, evaluating and recommending changes, if appropriate, to the remuneration for directors.

The charter will also provide that the compensation committee may, in its sole discretion, retain or obtain the advice of a compensation consultant, legal counsel or other adviser and will be directly responsible for the appointment, compensation and oversight of the work of any such adviser. However, before engaging or receiving advice from a compensation consultant, external legal counsel or any other adviser, the compensation committee will consider the independence of each such adviser, including the factors required by the Nasdaq and the SEC.

***Compensation Committee Interlocks and Insider Participation***

None of our executive officers currently serves, and in the past year has not served, as a member of the compensation committee of any entity that has one or more executive officers serving on our board of directors.

**Code of Ethics**

We have adopted a Code of Ethics applicable to our officers, directors and employees. A copy of the Code of Ethics will be provided without charge upon request from us. We intend to disclose any amendments to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K.

**Conflicts of Interest**

Under Cayman Islands law, officers and directors owe the following fiduciary duties:

● duty to act in good faith in what the officer or director believes to be in the best interests of the company as a whole;

● duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose;

● directors should not improperly fetter the exercise of future discretion;

● duty to exercise authority for the purpose for which it is conferred and a duty to exercise powers fairly as between different sections of shareholders;

● duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interests; and

● duty to exercise independent judgment.

In addition to the above, directors also owe a duty of care, which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the company and the general knowledge skill and experience of that director.

As set out above, directors have a duty not to put themselves in a position of conflict and this includes a duty not to engage in self-dealing, or to otherwise benefit as a result of their position. However, in some instances, what would otherwise be a breach of this duty can be forgiven and/or authorized in advance by the shareholders, provided that there is full disclosure by the directors. This can be done by way of permission granted in the post-offering memorandum and articles of association or alternatively by shareholder approval at general meetings.

Our officers and directors presently have, and any of them in the future may have, additional fiduciary, contractual or other obligations or duties duties to one or more other entities pursuant to which such officer or director is or will be required to present a business combination opportunity to such entities. As a result, if any of our officers or directors becomes aware of a business combination opportunity that is suitable for an entity to which he or she has then-current fiduciary or contractual obligations, then, subject to their fiduciary duties under Cayman Islands law, he or she will need to honor such fiduciary or contractual obligations to present such business combination opportunity to such entity, before we can pursue such opportunity. If these other entities decide to pursue any such opportunity, we may be precluded from pursuing the same. However, we do not expect these duties to materially affect our ability to complete our initial business combination.

To address the matters set out above, our post-offering memorandum and articles of association will provide that, to the fullest extent permitted by applicable law: (i) no individual serving as an officer or a director, among other persons, shall have any duty, except and to the extent expressly assumed by contract, to refrain from engaging directly or indirectly in the same or similar business activities or lines of business as us; and (ii) we renounce any interest or expectancy in, or in being offered an opportunity to participate in, any potential transaction or matter which (a) may be a corporate opportunity for any director or officer, on the one hand, and us, on the other; or (b) the presentation of which would breach an existing legal obligation of a director or officer to any other entity. In addition, our officers and directors have agreed not to become an officer or director of, any other special purpose acquisition company with a class of securities registered under the Exchange Act until we have entered into a definitive agreement regarding our initial business combination or we have failed to complete our initial business combination within the required time period.

Below is a table summarizing the entities to which our executive officers, director nominees and officer nominees currently have fiduciary duties, contractual obligations or other material management relationships:

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| | | | |
|:---|:---|:---|:---|
| **Individual** | **Entity** | **Entity's Business** | **Affiliation/Title** |
| Bo Yan | Beijing Sigu Technology Co., Ltd. | Consulting | Director |
|  | Beijing Chengye Private Equity Fund Management Co., Ltd. | private investment | Director |
|  | Beijing Chang'an Zhonglian Technology Co., Ltd. | Technical service | Director |
|  | Beijing Fenghuang Huitong Technology Co., Ltd. | Technical service | Director |
|  | Beijing Sigu Information Technology Center (Limited Partnership) | Consulting | Director |
| Shen Ma | Zhejiang Panorama Technology Co., Ltd | Technical service | Supervisor |
|  | Beijing Education and Training Network Technology Co., Ltd<br>| Education | Supervisor |
|  | CICT Connected and Intelligent Technologies Co., Ltd<br>| Technology<br>| Director<br>|
| Angel Colon | Sentage Holdings Inc. | Financial Services | Director |
|  | Horizon Space Acquisition I Corp. | SPAC | Director |
|  | Netclass Technology Inc. | B2B IT solutions | Director |
|  | NY Capital Management Group, LLC | Private Investment | Managing Member |
|  | Turing Funds, LLC | Private Investment | Managing Member |
| Xiangyi Chen | Shandong Meichen Science & Technology Co., Ltd. | Ecological solutions | Director |
|  | Beijing GaoLiang Private Equity Fund Management Co., Ltd. | Private Investment | Director |
| Yan Leng | Huayi Shengkang Technology Co, Ltd | Health Sector | Chief Executive Officer |

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We are not prohibited from pursuing an initial business combination with a company that is affiliated with our sponsor, officers, directors or advisors (or their respective affiliates or related entities). In the event we seek to complete our initial business combination with a company that is affiliated (as defined in our post-offering memorandum and articles of association) with our sponsor or any of our officers or directors or advisors, we, or a committee of independent directors, will obtain an opinion from an independent investment banking firm that is a member of FINRA or another independent entity that commonly renders valuation opinions that such initial business combination is fair to our company from a financial point of view. We are not required to obtain such an opinion in any other context.

Furthermore, in no event will our sponsor or any of our existing officers or directors or their respective affiliates be paid by us any finder's fee, consulting fee or other compensation prior to, or for any services they render in order to effectuate, the completion of our initial business combination.

We cannot assure you that any of the aforementioned conflicts will be resolved in our favor.

If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law and our post-offering memorandum and articles of association in favor of the business combination. In such case, our officers and directors have agreed to vote their founder shares and public shares in favor of our initial business combination (except with respect to any such public shares which may not be voted in favor of approving the business combination transaction in accordance with the requirements of Rule 14e-5 under the Exchange Act and any SEC interpretations or guidance relating thereto).

Potential investors should be aware of the following potential conflicts of interest:

● Our officers and directors are not required to, and may not, commit their full time to our affairs, which may result in a conflict of interest in allocating their time between our operations and our search for a business combination and their other businesses. We do not intend to have any full-time employees prior to the completion of our initial business combination. Each of our officers is engaged in several other business endeavors for which he may be entitled to substantial compensation, and our officers are not obligated to contribute any specific number of hours per week to our affairs.

● Our sponsor owns 2,957,143 Class B ordinary shares with par value of $0.0001 each (which were purchased for $25,000 and which we refer to as "founder shares"), up to 385,714 of which are subject to forfeiture depending on the extent to which the underwriter's over-allotment option is exercised and, accordingly, may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination.

● The approximately $0.008 per share price that our sponsor paid for the founder shares creates an incentive whereby our sponsor, directors and officers could potentially make a substantial profit even if the company selects an acquisition target that subsequently declines in value and is unprofitable for public investors.

Our sponsor and members of our management team will directly or indirectly own our securities following this offering, and accordingly, they may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination, including the fact that they may lose their entire investment in us if our initial business combination is not completed, except to the extent they receive liquidating distributions from assets outside the trust account.

**Limitation on Liability and Indemnification of Officers and Directors**

Cayman Islands law does not limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against willful default, willful neglect, actual fraud or the consequences of committing a crime. Under our post-offering memorandum and articles of association, subject to certain limitations, we may indemnify our officers and directors, among other persons, to the fullest extent permitted by law, as it now exists or may in the future be amended, including from any liability incurred in their capacities as such, except through their own actual fraud, willful default or willful neglect.

We will enter into agreements with our officers and directors to provide contractual indemnification in addition to the indemnification provided for in our post-offering memorandum and articles of association. Our post-offering memorandum and articles of association also will permit us to purchase and maintain insurance on behalf of any officer or director who at the request of the company is or was serving as a director or officer of, or in any other capacity is or was acting for, another company or a partnership, joint venture, trust or other enterprise, against any liability asserted against the person and incurred by the person in that capacity, whether or not the company has or would have had the power to indemnify the person against the liability as provided in the post-offering memorandum and articles of association.

We may purchase a policy of officers' and directors' liability insurance that insures our officers and directors against the cost of defense, settlement or payment of a judgment in some circumstances and insures us against our obligations to indemnify our officers and directors.

Our officers and directors [have agreed], and any persons who may become officers or directors prior to the initial business combination will agree, to waive any right, title, interest or claim of any kind in or to any monies in the trust account, as well as any right, title, interest or claim of any kind they may have in the future as a result of, or arising out of, any services provided to us, and will not seek recourse against the trust account for any reason whatsoever (except to the extent they are entitled to funds from the trust account due to their ownership of public shares). Accordingly, any indemnification provided will only be able to be satisfied by us if (i) we have sufficient funds outside of the trust account or (ii) we consummate an initial business combination.

Our indemnification obligations may discourage shareholders from bringing a lawsuit against our officers or directors for breach of their fiduciary duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against our officers and directors, even though such an action, if successful, might otherwise benefit us and our shareholders. Furthermore, a shareholder's investment may be adversely affected to the extent we pay the costs of settlement and damage awards against our officers and directors pursuant to these indemnification provisions. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is theretofore unenforceable.

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

**PRINCIPAL SHAREHOLDERS**

The following table sets forth information regarding the beneficial ownership of our ordinary shares as of the date of this prospectus, as adjusted to reflect the sale of our Class A ordinary shares included in the units offered by this prospectus and assuming no purchase of units in this offering, by:

● each person known by us to be the beneficial owner of more than 5% of our issued and outstanding Class A ordinary shares;

● each of our officers and directors that beneficially owns ordinary shares; and

● all our officers and directors as a group.

Unless otherwise indicated, we believe that all persons named in the table have sole voting and investment power with respect to all of our Class A ordinary shares beneficially owned by them.

On July 28, 2025, we entered into a share subscription agreement with our sponsor for the subscription of 2,957,143 Class B ordinary shares, par value $0.0001 each, for a total consideration of $25,000. Such Class B ordinary shares were issued on August 8, 2025, following the capital re-designation. Prior to the initial investment in the company of $25,000 by the sponsor, the company had no assets, tangible or intangible. The per share price of the founder shares was determined by dividing the amount contributed to the company by the number of founder shares issued. The post-offering percentages in the following table assume that the underwriter does not exercise its over-allotment option and that there are 9,082,529 ordinary shares issued and outstanding after this offering.

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Before Offering** | **Before Offering** | **After Offering** | **After Offering** |
| <br>**Name and Address of Beneficial Owner<sup>(1)</sup>** | **Number of<br> Shares<br> Beneficially<br> Owned** | **Approximate<br> Percentage<br> of<br> Outstanding<br> Ordinary<br> Shares<sup>(2)</sup>** | **Number of<br> Shares<br> Beneficially<br> Owned<sup>(3)</sup>** | **Approximate<br> Percentage<br> of<br> Outstanding<br> Ordinary<br> Shares<sup>(3)</sup>** |
| Issacyan Co., Ltd. | 2957143<sup>(2)</sup> | 100.0% |  |  |
| Bo Yan<sup>(3)</sup> | 2957143<sup>(2)</sup> | 100.0 |  |  |
| Shen Ma |  |  |  |  |
| Angel Colon |  |  |  |  |
| Xiangyi Chen |  |  |  |  |
| Yan Leng |  |  |  |  |
| All executive officers, directors and director nominees as a group (5 individuals) | 2957143 | 100.0% |  |  |

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\* Less than one percent.

(1) Unless
 otherwise noted, the business address of each of our shareholders, directors and officers
 is Room 1018, CYTS Plaza, No.5 Dongzhimen South Avenue, Dongcheng District, Beijing, China
 100007.

(2) Including
 385,714 founder shares subject to forfeiture depending on the extent to which the underwriter's
 over-allotment option is exercised.

(3) Bo
 Yan is the sole director and controls our sponsor, Issacyan Co., Ltd.

Our sponsor [has agreed] to purchase an aggregate of 221,100 private units (or 234,600 of such units if the over-allotment option is exercised in full) at a price of $10.0 per unit for an aggregate purchase price of $2,211,000, or $2,346,000 if the over-allotment option is exercised in full, in a private placement that will close simultaneously with the closing of this offering. Each unit consists of one private share and one private right granting the holder thereof the right to receive one-seventh (1/7) of a Class A ordinary share upon the consummation of a business combination. The purchase price of the private units will be added to the proceeds from this offering to be held in the trust account pending our completion of our business combination. If we do not complete our business combination within the completion window, the proceeds of the sale of the private units held in the trust account will be used to fund the redemption of our public shares, and the private units and underlying securities will be worthless. The private units are subject to the transfer restrictions described below.

Immediately after this offering, our initial shareholder will beneficially own 30% of the then issued and outstanding ordinary shares (excluding private shares, Representative Shares and A.G.P. Shares). Because of this ownership block, our sponsor may be able to effectively influence the outcome of all other matters requiring approval by our shareholders, including amendments to our post-offering memorandum and articles of association and approval of significant corporate transactions, including our initial business combination.

Our sponsor [has agreed] (a) to vote any founder shares and public shares held by them in favor of any proposed business combination and (b) not to redeem any founder shares or public shares held by them in connection with a shareholder vote to approve a proposed initial business combination.

Our sponsor is deemed to be our "promoter" as such term is defined under the federal securities laws. See "*Certain Relationships and Related Party Transactions*" for more information.

**Transfers of Founder Shares and Private Units**

The founder shares are subject to transfer restrictions pursuant to lock-up provisions in the letter agreement [entered into] with us by our initial shareholder. Those lock-up provisions provide that such securities are not transferable until the earlier of (i) 180 days after the completion of our initial business combination and (ii) the date of the completion of our initial business combination on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property, except in each case (a) to our officers or directors, any affiliates or family members of any of our officers or directors, any members of our sponsor, or any affiliates of our sponsor, (b) in the case of an individual, by gift to a member of the individual's immediate family or to a trust, the beneficiary of which is a member of the individual's immediate family or an affiliate of such person, or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) transfers by private sales or transfers made in connection with consummation of a business combination at prices no greater than the price at which the securities were originally purchased; (f) in the event of our liquidation prior to our completion of our initial business combination; (g) to the members of our sponsor pursuant to the terms of our sponsor's memorandum and articles of association in the event of the liquidation or dissolution of our sponsor; (h) to us for no value for cancellation in connection with the consummation of our initial business combination; and (i) in the event of our completion of a liquidation, merger, share exchange, reorganization or other similar transaction which results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property subsequent to our completion of our initial business combination; or (j) to a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible under clauses (a) through (i) above; provided, however, that in the case of clauses (a) through (e) and (j) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions and the other restrictions contained in the letter agreement. In addition, we could agree to permit the holders of our founder shares to transfer shares or agree to cancel such securities. Although no such transfers or cancellations are contemplated, we could agree to permit such transfer or cancellation to facilitate the closing of a business combination. Any permitted transferees would be subject to the same restrictions and other agreements of our initial shareholder with respect to any founder shares. Notwithstanding the foregoing, the founder shares will be released from the lock-up if (1) the last reported sale price of our ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and other similar transactions) for any 20 trading days within any 30-trading day period commencing at least 90 days after our initial business combination or (2) if we complete a transaction after our initial business combination which results in all of our shareholders having the right to exchange their shares for cash, securities or other property. Our sponsor currently owns 2,957,143 Class B ordinary shares with par value of $0.0001 each (which were purchased for $25,000), up to 385,714 of which are subject to forfeiture depending on the extent to which the underwriter's over-allotment option is exercised. Prior to the completion of this offering, our sponsor may transfer certain founder shares to our officers or directors (including officer and director nominees) or any affiliates or family members of any of our officers or directors (including officer and director nominees). Other than the foregoing, our sponsor is not expected to effect any other direct transfer of the founder shares it held prior to the offering, and Dr. Bo Yan is not expected to effect any indirect transfer of such founder shares by transferring any securities of the sponsor prior to the offering.

In addition, the purchasers of the private units [have also agreed] not to transfer, assign or sell any of the private units, including the underlying securities (except in connection with the same limited exceptions that the founder shares may be transferred as described above), until at least 30 days after the completion of our initial business combination.

Assuming no liquidation, merger, share exchange, reorganization or other similar transaction takes place, lock-ups on securities owned by our initial shareholder would expire as follows:

<u> Founder Shares </u> <u> Private Units </u> <br> 180 days after completion of our initial business combination, subject to early release at specified share prices. 30 days after completion of our initial business combination

**Registration Rights**

The holders of the insider shares and private units, units issuable upon the conversion of certain working capital loans and any underlying securities will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to or on the effective date of this offering requiring us to register such securities for resale. In addition, the holders have certain "piggy-back" registration rights with respect to registration statements filed subsequent to our completion of our initial business combination and rights to require us to register for resale such securities pursuant to Rule 415 under the Securities Act. We will bear the expenses incurred in connection with the filing of any such registration statements.

**CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS**

In July 2025, we entered into a share subscription agreement with our sponsor for the subscription of 2,957,143 Class B ordinary shares for an aggregate consideration of $25,000. Such Class B ordinary shares were issued on August 8, 2025, following the capital re-designation. If the underwriter does not exercise all or a portion of its over-allotment option, our insiders have agreed that up to an aggregate of 385,714 Class B ordinary shares in proportion to the portion of the over-allotment option that was not exercised are subject to forfeiture and would be immediately cancelled.

If the underwriter determines the size of the offering should be increased (including pursuant to Rule 462(b) under the Securities Act) or decreased, a share capitalization or a share repurchase, as applicable, would be effectuated in order to maintain our initial shareholder's ownership at a percentage of the number of shares to be sold in this offering.

Our sponsor [has committed] to purchase from us an aggregate of 221,100 private units at $10.0 per private unit. These purchases will take place on a private placement basis simultaneously with the consummation of this offering. All of the proceeds we receive from these purchases will be placed in the trust account described below. Our sponsor has also agreed that if the over-allotment option is exercised by the underwriter, they will purchase from us at a price of $10.0 per private unit of up to 234,600 private units *pro rata* with the amount of the over-allotment option exercised so that at least $10.0 per share sold to the public in this offering is held in trust regardless of whether the over-allotment option is exercised in full or part. These additional private units will be purchased in a private placement that will occur simultaneously with the purchase of units resulting from the exercise of the over-allotment option. The purchase price for the private units being purchased by our sponsor will be delivered to , our transfer agent, at least 24 hours prior to the date of this prospectus to hold in a non-interest-bearing account until we consummate this offering. will deposit the purchase price into the trust account simultaneously with the consummation of the offering. The private units are identical to the units sold in this offering except as otherwise described in this prospectus. The sponsor [has agreed] not to transfer, assign or sell any of the private units or the underlying securities (except to the same permitted transferees as the founder shares) until 30 days after the consummation of our initial business combination, or earlier, subject to certain exceptions as described in this prospectus.

In order to meet our working capital needs following the consummation of this offering or to extend our life, our insiders, officers and directors and their respective affiliates/designees may, but are not obligated to, loan us funds, from time to time or at any time, in whatever amount they deem reasonable in their sole discretion. Each loan would be evidenced by a promissory note. The notes would either be paid upon consummation of our initial business combination, without interest, or, at the lender's discretion, up to $1,500,000 of the loans may be converted upon consummation of our business combination into working capital units at a price of $10.0 per unit in addition to the convertible notes in connection with the potential extensions. The working capital units would be identical to the private units sold in the private placement. The terms of such loans by our sponsor or its affiliates, if any, have not been determined and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than our insiders or an affiliate of our insiders as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account, but if we do, we will request such lender to provide a waiver against any and all rights to seek access to funds in our trust account.

After our initial business combination, members of our management team who remain with us may be paid consulting, management or other fees from the combined company with any and all amounts being fully disclosed to our shareholders, to the extent then known, in the tender offer or proxy solicitation materials, as applicable, furnished to our shareholders. It is unlikely the amount of such compensation will be known at the time of distribution of such tender offer materials or at the time of a shareholder meeting held to consider our initial business combination, as applicable, as it will be up to the directors of the post-combination business to determine executive and director compensation.

The holders of our founder shares issued and outstanding on the date of this prospectus, as well as the holders of the private units (and all underlying securities) and any securities our insiders, officers, directors or their affiliates may be issued in payment of working capital loans, will be entitled to registration rights pursuant to an agreement to be signed prior to or on the effective date of this offering. The holders of a majority of these securities are entitled to make up to three demands that we register such securities. The holders of a majority of the private units or securities issued in payment of working capital loans or loans to extend our life made to us can elect to exercise these registration rights at any time after we consummate a business combination. In addition, the holders have certain "piggy-back" registration rights with respect to registration statements filed subsequent to our consummation of a business combination. We will bear the expenses incurred in connection with the filing of any such registration statements.

Our sponsor has agreed to loan us up to $500,000 under an unsecured promissory note, as amended, to be used for a portion of the expenses of this offering. As of July 31, 2025, we have borrowed $109,231 under such promissory note. The loan is payable without interest on the earlier of (i) December 31, 2026 and (ii) date on which we consummate our initial public offering. We intend to repay this loan from the proceeds of this offering not being placed in the trust account. If we determine not to proceed with the offering, such amounts would not be repaid.

Other than the fees described above, no compensation or fees of any kind, including finder's fees, consulting fees or other similar compensation, will be paid to any of our insiders, officers or directors who owned our ordinary shares prior to this offering, or to any of their respective affiliates, prior to or with respect to the business combination (regardless of the type of transaction that it is).

We will reimburse our officers and directors for any reasonable out-of-pocket business expenses incurred by them in connection with certain activities on our behalf such as identifying and investigating possible target businesses and business combinations. There is no limit on the amount of out-of-pocket expenses reimbursable by us; provided, however, that to the extent such expenses exceed the available proceeds not deposited in the trust account, such expenses would not be reimbursed by us unless we consummate an initial business combination. Our audit committee will review and approve all reimbursements and payments made to any initial shareholder or member of our management team, or our or their respective affiliates, and any reimbursements and payments made to members of our audit committee will be reviewed and approved by our board of directors, with any interested director abstaining from such review and approval.

All ongoing and future transactions between us and any of our officers and directors or their respective affiliates will be on terms believed by us to be no less favorable to us than are available from unaffiliated third parties. Such transactions, including the payment of any compensation, will require prior approval by a majority of our uninterested "independent" directors (to the extent we have any) or the members of our board who do not have an interest in the transaction, in either case who had access, at our expense, to our attorneys or independent legal counsel. We will not enter into any such transaction unless our disinterested "independent" directors (or, if there are no "independent" directors, our disinterested directors) determine that the terms of such transaction are no less favorable to us than those that would be available to us with respect to such a transaction from unaffiliated third parties.

**Related Party Policy**

We have not yet adopted a formal policy for the review, approval or ratification of related party transactions. Accordingly, the transactions discussed above were not reviewed, approved or ratified in accordance with any such policy.

Prior to the consummation of this offering, we will adopt a code of ethics requiring us to avoid, wherever possible, all conflicts of interests, except under guidelines or resolutions approved by our board of directors (or the appropriate committee of our board) or as disclosed in our public filings with the SEC. Under our code of ethics, conflict of interest situations will include any financial transaction, arrangement or relationship (including any indebtedness or guarantee of indebtedness) involving the company. A form of the code of ethics that we plan to adopt prior to the consummation of this offering is filed as an exhibit to the registration statement of which this prospectus is a part.

In addition, our audit committee, pursuant to a written charter that we will adopt prior to the consummation of this offering, will be responsible for reviewing and approving related party transactions to the extent that we enter into such transactions. An affirmative vote of a majority of the members of the audit committee present at a meeting at which a quorum is present will be required in order to approve a related party transaction. A majority of the members of the entire audit committee will constitute a quorum. Without a meeting, the unanimous written consent of all of the members of the audit committee will be required to approve a related party transaction. A form of the audit committee charter that we plan to adopt prior to the consummation of this offering is filed as an exhibit to the registration statement of which this prospectus is a part. We also require each of our directors and executive officers to complete a directors' and officers' questionnaire that elicits information about related party transactions.

These procedures are intended to determine whether any such related party transaction impairs the independence of a director or presents a conflict of interest on the part of a director, employee or officer.

To further minimize conflicts of interest, prior to consummating an initial business combination with an entity that is affiliated with any of our directors or officers, we, or a committee of independent and disinterested directors, may engage independent advisors to assist with the evaluation and will obtain an opinion from an independent investment banking firm or an independent accounting firm that our initial business combination is fair to our company from a financial point of view. Furthermore, there will be no finder's fees, reimbursements or cash payments made by us to our sponsor, directors or officers, or our or any of their respective affiliates, for services rendered to us prior to or in connection with the completion of our initial business combination, other than the following payments, none of which will be made from the proceeds of this offering and the sale of the private units held in the trust account prior to the completion of our initial business combination:

● repayment at the closing of this offering of up to $500,000 in loans made to us by our sponsor;

● reimbursement of out-of-pocket expenses incurred by them in connection with certain activities on our behalf, such as identifying and investigating possible business targets and business combinations;

● monthly repayment of $10,000 to our sponsor for the administrative fees; and

● repayment at the closing of our initial business combination of loans which may be made by our insiders or an affiliate of our insiders to finance transaction costs in connection with an intended initial business combination, to meet our working capital needs or to extend our life, the terms of which have not been determined nor have any written agreements been executed with respect thereto. Up to $1,500,000 of such loans may be convertible into working capital units, at a price of $10.0 per unit at the option of the lender. Such working capital units are identical to the private units sold in the private placement.

**DESCRIPTION OF SECURITIES**

We are a Cayman Islands exempted company and our affairs will be governed by our post-offering memorandum and articles of association, the Companies Act and the common law of the Cayman Islands. Pursuant to our post-offering memorandum and articles of association, which will be adopted prior to the consummation of this offering, we will be authorized to issue 60,000,000 Class A ordinary shares, par value $0.0001 each, 6,000,000 Class B ordinary shares, par value $0.0001 each and 600,000 preference shares, par value $0.0001 each. The following description summarizes the material terms of our share capital as set out more particularly in our post-offering memorandum and articles of association. Because it is only a summary, it may not contain all the information that is important to you.

**Units**

Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one right to receive one-seventh (1/7) of one Class A ordinary share upon the consummation of an initial business combination, as described in more detail herein. Each seven rights entitle the holder thereof to receive one Class A ordinary share at the closing of a business combination. We will not issue fractional shares. As a result, you must hold rights in multiples of 7 in order to receive shares for all of your rights upon closing of a business combination.

The Class A ordinary shares and rights comprising the units are expected to begin separate trading on the 52<sup>nd</sup> day following the date of this prospectus, unless A.G.P. informs us of their decision to allow earlier separate trading, subject to our having filed the Current Report on Form 8-K described below and having issued a press release announcing when such separate trading will begin. Once the Class A ordinary shares and rights commence separate trading, holders will have the option to continue to hold units or separate their units into the component securities. Holders will need to have their brokers contact our transfer agent in order to separate the units into Class A ordinary shares and rights.

In no event will the Class A ordinary shares and rights be traded separately until we have filed with the SEC a Current Report on Form 8-K that includes an audited balance sheet reflecting our receipt of the gross proceeds at the closing of this offering and the sale of the private units. We will file a Current Report on Form 8-K that includes this audited balance sheet promptly after the completion of this offering. If the underwriter's over-allotment option is exercised following the initial filing of such Current Report on Form 8-K, a second or amended Current Report on Form 8-K will be filed to provide updated financial information to reflect the exercise of the underwriter's over-allotment option.

Additionally, the units will automatically separate into their component parts and will not be traded after the completion of our initial business combination.

**Ordinary Shares**

Prior to the date of this prospectus, there were 2,957,143 Class B ordinary shares issued and outstanding, with 385,714 shares subject to forfeiture to the extent the underwriter does not fully exercise its over-allotment option, all of which were held of record by our initial shareholder. Simultaneous with the closing of this offering, our initial shareholder will acquire in a private placement an additional 221,100 private units, assuming the underwriter does not exercise its over-allotment option.

Upon the closing of this offering, 9,082,529 ordinary shares will be issued and outstanding (assuming no exercise of the underwriter's over-allotment option) including:

● 6,000,000 Class A ordinary shares underlying the units issued as part of this offering;

● 2,571,429 Class B ordinary shares held by our initial shareholder;

● 221,100 Class A ordinary shares included in the private units to be issued to our initial shareholder at the closing of this offering; and

● 80,000 Representative Shares and 210,000 A.G.P. Shares.

Ordinary shareholders of record are entitled to one vote for each ordinary share held on all matters to be voted on by shareholders. Except as described below, holders of Class A ordinary shares and holders of Class B ordinary shares will vote together as a single class on all matters submitted to a vote of our shareholders except as required by law. Unless specified in our post-offering memorandum and articles of association, or as required by applicable provisions of the Companies Act or applicable stock exchange rules, an ordinary resolution under Cayman Islands law and our post-offering memorandum and articles of association is required to approve any such matter voted on by our shareholders. Approval of certain actions will require a special resolution under Cayman Islands law and pursuant to our post-offering memorandum and articles of association; such actions include amending our post-offering memorandum and articles of association and approving a statutory merger or consolidation with another company. Our shareholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. Prior to our initial business combination, only holders of our founder shares will have the right to vote on the appointment and removal of directors. Holders of our public shares will not be entitled to vote on the appointment or removal of directors during such time. In addition, prior to the completion of an initial business combination, holders of our founder shares may remove a member of the board of directors for any reason.

There is no requirement under the Companies Act for us to hold annual or general meetings or appoint directors other than to ensure that the company has at least one director at all times. We may not hold an annual general meeting to appoint new directors prior to the consummation of our initial business combination.

Because our post-offering memorandum and articles of association will authorize the issuance of up to 60,000,000 Class A ordinary shares, if we were to enter into a business combination, we may (depending on the terms of such a business combination) be required to increase the number of Class A ordinary shares that we will be authorized to issue at the same time as our shareholders vote on the business combination to the extent we seek shareholder approval in connection with our initial business combination.

We will provide our public shareholders with the opportunity to redeem all or a portion of their public shares, regardless of whether they abstain, vote for, or vote against, upon the completion of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business days prior to the consummation of our initial business combination, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (net of taxes payable), divided by the number of the then-outstanding public shares, subject to the limitations described herein. The amount in the trust account is initially anticipated to be $10.0 per public share. The redemption rights will include the requirement that a beneficial owner must identify itself in order to validly redeem its shares.

Our sponsor, officers and directors [have entered] into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any founder shares and public shares held by them in connection with (i) the completion of our initial business combination and (ii) a shareholder vote to approve an amendment to our post-offering memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within the completion window or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares.

Unlike many blank check companies that hold shareholder votes and conduct proxy solicitations in conjunction with their initial business combinations and provide for related redemptions of public shares for cash upon the completion of such initial business combinations even when a vote is not required by law, if a shareholder vote is not required by applicable law or stock exchange listing requirements and we do not decide to hold a shareholder vote for business or other legal reasons, we will, pursuant to our post-offering memorandum and articles of association, conduct the redemptions pursuant to the tender offer rules of the SEC, and file tender offer documents with the SEC prior to completing our initial business combination. Our post-offering memorandum and articles of association will require these tender offer documents to contain substantially the same financial and other information about the initial business combination and the redemption rights as is required under the SEC's proxy rules. If, however, a shareholder approval of the transaction is required by applicable law or stock exchange listing requirements, or we decide to obtain shareholder approval for business or other reasons, we will, like many blank check companies, offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law and our post-offering memorandum and articles of association. However, if our initial business combination is structured as a statutory merger or consolidation with another company under Cayman Islands law, the approval of our initial business combination will require a special resolution under Cayman Islands law and our post-offering memorandum and articles of association. A quorum for such meeting will consist of the holders present in person or by proxy of shares of issued and outstanding ordinary shares of the company representing one-third of all ordinary shares of the company entitled to vote at such meeting. However, the participation of our sponsor, officers, directors, advisors or their affiliates in privately-negotiated transactions (as described in this prospectus), if any, could result in the approval of our initial business combination even if a majority of our public shareholders vote, or indicate their intention to vote, against such initial business combination. For purposes of seeking approval of the majority of our issued and outstanding Class A ordinary shares voted, non-votes will have no effect on the approval of our initial business combination once a quorum is obtained. Pursuant to our post-offering memorandum and articles of association, we are required to give at least five days' notice for any general meeting. However, a final proxy statement will be distributed to our shareholders at least twenty calendar days prior to the shareholder meeting if we seek shareholder approval of our initial business combination at such meeting. These quorum and voting thresholds, and the voting agreements of our insiders, may make it more likely that we will consummate our initial business combination.

If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our post-offering memorandum and articles of association will provide that a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a "group" (as defined under Section 13 of the Exchange Act), will be restricted from requiring us to redeem its shares with respect to Excess Shares, without our prior consent. However, we would not be restricting our shareholders' ability to vote all of their shares (including Excess Shares) for or against our initial business combination. Our shareholders' inability to require us to redeem the Excess Shares will reduce their influence over our ability to complete our initial business combination, and such shareholders could suffer a material loss in their investment if they sell such Excess Shares on the open market. Additionally, such shareholders will not receive redemption distributions with respect to the Excess Shares if we complete our initial business combination. And, as a result, such shareholders will continue to hold that number of shares exceeding 15% and, to dispose such shares would be required to sell their shares in open market transactions, potentially at a loss.

If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law and our post-offering memorandum and articles of association. In such case, our initial shareholder [has agreed] to vote its founder shares and any public shares purchased during or after this offering in favor of our initial business combination. Additionally, each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction or vote at all.

Pursuant to our post-offering memorandum and articles of association, if we have not consummated an initial business combination within 15 months from the closing of this offering or any extension period, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (net of tax payable and less up to $100,000 of interest to pay dissolution expenses), divided by the number of the then-outstanding public shares, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject, in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. Our sponsor, officers and directors [have entered] into a letter agreement with us, pursuant to which they [have agreed] to waive their rights to liquidating distributions from the trust account with respect to any founder shares they hold if we fail to consummate an initial business combination within the completion window (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within the prescribed time frame). Our post-offering memorandum and articles of association will provide that, if we wind up for any other reason prior to the consummation of our initial business combination, we will follow the foregoing procedures with respect to the liquidation of the trust account as promptly as reasonably possible but not more than ten business days thereafter, subject to applicable Cayman Islands law. In the event of a liquidation, dissolution or winding up of the company after a business combination, our shareholders are entitled to share ratably in all assets remaining available for distribution to them after payment of liabilities and after provision is made for each class of shares, if any, having preference over the ordinary shares. Our shareholders have no pre-emptive or other subscription rights. There are no sinking fund provisions applicable to the ordinary shares, except that we will provide our public shareholders with the opportunity to require us to redeem their public shares for cash at a per share price equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (less taxes payable), divided by the number of the then-outstanding public shares, upon the completion of our initial business combination, subject to the limitations described herein.

**Founder Shares and Private Units** 

The founder shares are subject to transfer restrictions pursuant to lock-up provisions in the letter agreement with us to be [entered into] by our initial shareholder. Those lock-up provisions provide that such securities are not transferable until the earlier of (i) 180 days after the completion of our initial business combination and (ii) subsequent to our initial business combination, the date of the completion of our initial business combination on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property, except in each case (a) to our officers or directors, any affiliates or family members of any of our officers or directors, any members of our sponsor, or any affiliates of our sponsor, (b) in the case of an individual, by gift to a member of the individual's immediate family or to a trust, the beneficiary of which is a member of the individual's immediate family or an affiliate of such person, or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) transfers by private sales or transfers made in connection with consummation of a business combination at prices no greater than the price at which the securities were originally purchased; (f) in the event of our liquidation prior to our completion of our initial business combination; (g) to the members of our sponsor by virtue of the laws of the British Virgin Islands or pursuant to the terms of our sponsor's memorandum and articles of association in the event of the liquidation or dissolution of our sponsor; (h) in the event of our completion of a liquidation, merger, share exchange, reorganization or other similar transaction which results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property subsequent to our completion of our initial business combination; or (i) to a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible under clauses (a) through (h) above; provided, however, that in the case of clauses (a) through (e) and (i) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions and the other restrictions contained in the letter agreement. In addition, we could agree to permit the holders of our founder shares to transfer shares or agree to cancel such securities. Although no such transfers or cancellations are contemplated, we could agree to permit such transfer or cancellation to facilitate the closing of a business combination. Any permitted transferees would be subject to the same restrictions and other agreements of our initial shareholder with respect to any founder shares. Notwithstanding the foregoing, the founder shares will be released from the lock-up if (1) the last reported sale price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and other similar transactions) for any 20 trading days within any 30-trading day period commencing at least 90 days after our initial business combination or (2) if we complete a transaction after our initial business combination which results in all of our shareholders having the right to exchange their shares for cash, securities or other property.

In addition, the purchasers of the private units [have also agreed] not to transfer, assign or sell any of the private units, including the underlying securities (except in connection with the same limited exceptions that the founder shares may be transferred as described above), until at least 30 days after the completion of our initial business combination.

Assuming no liquidation, merger, share exchange, reorganization or other similar transaction takes place, lock-ups on securities owned by our initial shareholder would expire as follows:

<u>Founder Shares</u> <u>Private Units</u> <br> 180 days after completion of our initial business combination, subject to early release at specified share prices 30 days after completion of our initial business combination

**Register of Members**

Under Cayman Islands law, we must keep a register of members and there will be entered therein:

● the names and addresses of the members, a statement of the shares held by each member, and of the amount paid or agreed to be considered as paid, on the shares of each member and the voting rights of the shares of each member;

● whether voting rights attach to the shares in issue;

● the date on which the name of any person was entered on the register as a member; and

● the date on which any person ceased to be a member.

Under Cayman Islands law, the register of members of our company is prima facie evidence of the matters set out therein (i.e., the register of members will raise a presumption of fact on the matters referred to above unless rebutted) and a member registered in the register of members will be deemed as a matter of Cayman Islands law to have legal title to the shares as set against its name in the register of members. Upon the closing of this public offering, the register of members will be immediately updated to reflect the issue of shares by us. Once our register of members has been updated, the shareholders recorded in the register of members will be deemed to have legal title to the shares set against their name. However, there are certain limited circumstances where an application may be made to a Cayman Islands court for a determination on whether the register of members reflects the correct legal position. Further, the Cayman Islands court has the power to order that the register of members maintained by a company should be rectified where it considers that the register of members does not reflect the correct legal position. If an application for an order for rectification of the register of members were made in respect of our ordinary shares, then the validity of such shares may be subject to re-examination by a Cayman Islands court.

**Rights**

Each holder of a right will receive one-seventh (1/7) of one Class A ordinary share upon consummation of our initial business combination, even if the holder of such right redeemed all Class A ordinary shares held by it in connection with the initial business combination. No additional consideration will be required to be paid by a holder of rights in order to receive its additional shares upon consummation of an initial business combination, as the consideration related thereto has been included in the unit purchase price paid for by investors in this offering. If we enter into a definitive agreement for a business combination in which we will not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same per share consideration the holders of the Class A ordinary shares will receive in the transaction on an as-converted into Class A ordinary share basis, and each holder of a right will be required to affirmatively convert its rights in order to receive the 1/7 share underlying each right (without paying any additional consideration) upon consummation of the business combination. More specifically, the right holder will be required to indicate its election to convert the rights into underlying shares as well as to return the original rights certificates to us.

We will not issue fractional Class A ordinary shares in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with Cayman Islands law. As a result, you must hold rights in multiples of seven in order to receive Class A ordinary shares for all of your rights upon closing of a business combination. If we are unable to complete an initial business combination within the completion window and we liquidate the funds held in the trust account, holders of rights will not receive any of such funds with respect to their rights, nor will they receive any distribution from our assets held outside of the trust account with respect to such rights. Further, there are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of an initial business combination. Additionally, in no event will we be required to cash settle the rights. Accordingly, the rights may expire worthless.

Our rights will be issued in registered form under a rights agreement between , as rights agent, and us. The rights agreement provides that the terms of the rights may be amended without the consent of any holder to cure any ambiguity or correct any defective provision. The rights agreement requires the approval by the holders of at least a majority of the then outstanding rights in order to make any change that adversely affects the interests of the holders of the rights.

**Dividends**

We have not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination. A Cayman Islands company may pay a dividend on its shares out of profits, the share premium account or other funds of the company lawfully available therefor, provided that in no circumstances may a dividend be paid if following such payment the company would be unable to pay its debts as they fall due in the ordinary course of business. The payment of cash dividends following completion of our initial business combination will be within the discretion of our board of directors at such time and will be, subject to applicable law, dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to the completion of our initial business combination. There is no certainty we will be in a position to, or decide to, pay cash dividends after completing any business combination.

**Our Transfer Agent and Rights Agent**

The transfer agent for our Class A ordinary shares is . We [have agreed] to indemnify in its roles as transfer agent and rights agent, its agents and each of its shareholders, officers, directors and employees against all claims and losses that may arise out of acts performed or omitted for its activities in that capacity, except for any claims and losses due to any gross negligence or intentional misconduct of the indemnified person or entity.

**Certain Differences in Corporate Law**

Cayman Islands companies are governed by the Companies Act. The Companies Act is modeled on English law but does not follow recent English law statutory enactments, and differs from laws applicable to United States corporations and their shareholders. Set forth below is a summary of the material differences between the provisions of the Companies Act applicable to us and the laws applicable to companies incorporated in the United States and their shareholders.

*Mergers and Similar Arrangements*. In certain circumstances, the Companies Act allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman Islands exempted company and a company incorporated in another jurisdiction (provided that is facilitated by the laws of that other jurisdiction).

Where the merger or consolidation is between two Cayman Islands companies, the directors of each company must approve a written plan of merger or consolidation containing certain prescribed information. That plan of merger or consolidation must then be authorized by (a) a special resolution of the shareholders of each company; and (b) such other authorization, if any, as may be specified in such constituent company's articles of association. No shareholder resolution is required for a merger between a parent company (i.e., a company that holds issued shares that together represent at least ninety per cent of the votes at a general meeting of the subsidiary company) and its subsidiary company, provided that a copy of the plan of merger is given to every member of each subsidiary company to be merged unless that member agrees otherwise. The consent of each holder of a fixed or floating security interest of a constituent company must be obtained, unless the court waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the requirements of the Companies Act (which includes certain other formalities) have been complied with, the Registrar of Companies will register the plan of merger or consolidation.

Where the merger or consolidation involves a foreign company, the procedure is similar, save that with respect to the foreign company, the directors of the Cayman Islands exempted company are also required to make a declaration to the effect that, having made due enquiry, they are of the opinion that certain requirements set out below have been met, including the following requirements: (i) that the merger or consolidation is permitted or not prohibited by the constitutional documents of the foreign company and by the laws of the jurisdiction in which the foreign company is incorporated, and that those laws and any requirements of those constitutional documents have been or will be complied with; (ii) that no petition or other similar proceeding has been filed and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign company in any jurisdictions; (iii) that no receiver, trustee, administrator or other similar person has been appointed in any jurisdiction and is acting in respect of the foreign company, its affairs or its property or any part thereof; (iv) that no scheme, order, compromise or other similar arrangement has been entered into or made in any jurisdiction whereby the rights of creditors of the foreign company are and continue to be suspended or restricted; and (v) that there is no other reason why it would be against the public interest to permit the merger or consolidation.

Where the surviving company is the Cayman Islands exempted company, the directors of the Cayman Islands exempted company are further required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the foreign company is able to pay its debts as they fall due and that the merger or consolidated is bona fide and not intended to defraud unsecured creditors of the foreign company; (ii) that in respect of the transfer of any security interest granted by the foreign company to the surviving or consolidated company (a) consent or approval to the transfer has been obtained, released or waived; (b) the transfer is permitted by and has been approved in accordance with the constitutional documents of the foreign company; and (c) the laws of the jurisdiction of the foreign company with respect to the transfer have been or will be complied with; and (iii) that the foreign company will, upon the merger or consolidation becoming effective, cease to be incorporated, registered or exist under the laws of the relevant foreign jurisdiction.

The Companies Act provides for a right of dissenting shareholders to be paid the fair value of their shares upon their dissenting to the merger or consolidation in certain circumstances if they follow a prescribed procedure. In essence, where such rights apply, that procedure is as follows: (a) the shareholder must give his written objection to the merger or consolidation to the constituent company before the vote on the merger or consolidation, including a statement that the shareholder proposes to demand payment for his shares if the merger or consolidation is authorized by the vote; (b) within 20 days following the date on which the merger or consolidation is approved by the shareholders, the constituent company who elects to dissent must give written notice to each shareholder who made a written objection; (c) a shareholder must, within 20 days following receipt of such notice from the constituent company, give the constituent company a written notice of their decision to dissent including, among other details, a demand for payment of the fair value of their shares; (d) within seven days following the date of the expiration of the period set out in paragraph (b) above or seven days following the date on which the plan of merger or consolidation is filed, whichever is later, the constituent company, the surviving company or the consolidated company must make a written offer to each dissenting shareholder to purchase their shares at a price that the company determines is the fair value and if the company and the shareholder agree on the price within 30 days following the date on which the offer was made, the company must pay the shareholder such amount; and (e) if the company and the shareholder fail to agree on a price within such 30-day period, within 20 days following the date on which such 30-day period expires, the company must (and any dissenting shareholder may) must file a petition with the Grand Court of the Cayman Islands to determine the fair value of all dissenting shares and such petition by the company must be accompanied by a list of the names and addresses of the dissenting shareholders with whom agreements as to the fair value of their shares have not been reached by the company. At the hearing of that petition, the court has the power to determine the fair value of the shares together with a fair rate of interest, if any, to be paid by the company upon the amount determined to be the fair value. Any dissenting shareholder whose name appears on the list filed by the company may participate fully in all proceedings until the determination of fair value is reached. A shareholder who dissents must do so in respect of all shares that that person holds in the constituent company. Upon the giving of a notice of dissent under clause (iii) above, the shareholder to whom the notice relates shall cease to have any of the rights of a shareholder except the right to be paid the fair value of that person's shares and certain rights specified in the Companies Act. These rights of a dissenting shareholder are not available in certain circumstances, for example, to dissenting shareholders holding shares of any class in respect of which an open market exists on a recognized stock exchange or recognized interdealer quotation system at the relevant date or where the consideration for such shares to be contributed are shares of any company listed on a national securities exchange or shares of the surviving or consolidated company.

Moreover, Cayman Islands law has separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances, commonly referred to in the Cayman Islands as a "scheme of arrangement" which may be tantamount to a merger. Schemes of arrangement will generally be more suited for complex mergers or other transactions involving widely held companies. In the event that a merger was sought pursuant to a scheme of arrangement (the procedures for which are more rigorous and take longer to complete than the procedures typically required to consummate a merger in the United States), the arrangement in question must be approved by (i) in relation to a compromise or arrangement between a company and its creditors or any class of them, a majority in number of such creditors or class of creditors with whom the arrangement is to be made and who must in addition represent 75% in value of such class of shareholders or creditors, as the case may be, that are present and voting either in person or by proxy at a general meeting, or meeting summoned for that purpose; and ii) in relation to a compromise or arrangement between a company and its shareholders or any class of them, shareholders who represent 75% in value of the company's shareholders or class of shareholders, as the case may be, that are present and voting either in person or by proxy at a meeting summoned for that purpose. The convening of the meetings and subsequently the terms of the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder would have the right to express to the court the view that the transaction should not be approved, the court can be expected to approve the arrangement if it satisfies itself that:

● we are not proposing to act illegally or beyond the scope of our corporate authority and the statutory provisions as to majority vote have been complied with;

● the shareholders have been fairly represented at the meeting in question;

● the arrangement is such as a businessman would reasonably approve; and

● the arrangement is not one that would more properly be sanctioned under some other provision of the Companies Act or that would amount to a "fraud on the minority."

If a scheme of arrangement or takeover offer (as described below) is approved, any dissenting shareholder would have no rights comparable to dissenters' rights or appraisal rights (providing rights to receive payment in cash for the judicially determined value of the shares), which would otherwise ordinarily be available to dissenting shareholders of United States corporations.

*Squeeze-out Provisions*. When a takeover offer is made and accepted by holders of 90% of the shares to whom the offer relates within four months, the offeror may, within a two-month period after the expiration of the initial four-month period, require the holders of the remaining shares to transfer such shares on the terms of the offer. An objection can be made to the Grand Court of the Cayman Islands, but this is unlikely to succeed unless there is evidence of fraud, bad faith, collusion or inequitable treatment of the shareholders.

Further, transactions similar to a merger, reconstruction and/or an amalgamation may in some circumstances be achieved through means other than these statutory provisions, such as a share capital exchange, asset acquisition or control, or through contractual arrangements of an operating business.

*Shareholders' Suits*. Appleby, our Cayman Islands legal counsel, is not aware of any reported class action having been brought in a Cayman Islands court. Derivative actions have been brought in the Cayman Islands courts, and the Cayman Islands courts have confirmed the availability of such actions. In most cases, we will be the proper plaintiff in any claim based on a breach of duty owed to us, and a claim against (for example) our officers or directors usually may not be brought by a shareholder. However, based both on Cayman Islands authorities and on English authorities, which would in all likelihood be of persuasive authority and be applied by a court in the Cayman Islands, exceptions to the foregoing principle apply in circumstances in which:

● a company is acting, or proposing to act, illegally or beyond the scope of its authority;

● the act complained of, although not beyond the scope of the authority, could be effected if duly authorized by more than the number of votes which have actually been obtained; or

● those who control the company are perpetrating a "fraud on the minority."

A shareholder may have a direct right of action against us where the individual rights of that shareholder have been infringed or are about to be infringed.

*Enforcement of Civil Liabilities*. The Cayman Islands has a different body of securities laws as compared to the United States and provides less protection to investors. Additionally, Cayman Islands companies may not have standing to sue before the federal courts of the United States.

We have been advised by Appleby, our Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments of courts of the United States predicated upon the civil liability provisions of the federal securities laws of the United States or any state; and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us predicated upon the civil liability provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those provisions are penal in nature. In those circumstances, although there is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

*Special Considerations for Exempted Companies*. We are an exempted company with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies and exempted companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except for the exemptions and privileges listed below:

● annual reporting requirements are minimal and consist mainly of a statement that the company has conducted its operations mainly outside of the Cayman Islands and has complied with the provisions of the Companies Act;

● an exempted company's register of members is not open to inspection and can be kept outside of the Cayman Islands;

● an exempted company does not have to hold an annual general meeting;

● an exempted company may issue shares with no nominal or par value;

● an exempted company may obtain an undertaking against the imposition of any future taxation (such undertakings are usually given for 20 or 30 years in the first instance);

● an exempted company may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands;

● an exempted company may register as a limited duration company; and

● an exempted company may register as a segregated portfolio company.

"Limited liability" means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

**Post-Offering Memorandum and Articles of Association**

Our post-offering memorandum and articles of association will contain certain requirements and restrictions relating to this offering that will apply to us until the completion of our initial business combination. These provisions cannot be amended without a special resolution under Cayman Islands law and our post-offering memorandum and articles of association.

Our sponsor, who will beneficially own approximately 30% of our ordinary shares upon the closing of this offering (excluding private shares, Representative Shares and A.G.P. Shares), will participate in any vote to amend our post-offering memorandum and articles of association and will have the discretion to vote in any manner it chooses. Specifically, our post-offering memorandum and articles of association will provide, among other things, that:

● if we are unable to complete our initial business combination within the completion window, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, subject to lawfully available funds therefor, redeem 100% of the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (which interest shall be net of taxes payable and less up to $100,000 of interest to pay dissolution expenses) divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our Board of Directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii), to our obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law;

● prior to our initial business combination, we may not issue additional Class A ordinary shares that would entitle the holders thereof to (i) receive funds from the trust account, (ii) vote on any initial business combination or (iii) vote on matters related to our pre-initial business combination activity;

● although we do not intend to enter into a business combination with a target business that is affiliated with our sponsor, our directors or our officers, we are not prohibited from doing so. In the event we enter into such a transaction, we, or a committee of independent directors, will obtain an opinion from an independent investment banking firm that is a member of FINRA, or another independent firm that commonly renders valuation opinions for the type of company we are seeking to acquire or an independent accounting firm, that such a business combination is fair to our company from a financial point of view;

● if a shareholder vote on our initial business combination is not required by law and we do not decide to hold a shareholder vote for business or other reasons, we will offer to redeem our public shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, and will file tender offer documents with the SEC prior to completing our initial business combination which contain substantially the same financial and other information about our initial business combination and the redemption rights as is required under Regulation 14A of the Exchange Act;

● so long as we obtain and maintain a listing for our securities on Nasdaq, our initial business combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of our assets held in the trust account (excluding taxes payable on the income earned on the trust account) at the time of the agreement to enter into the initial business combination;

● If our shareholders approve an amendment to our post-offering memorandum and articles of association not for the purpose of approving, or in conjunction with the consummation of an initial business combination, that would (i) modify the substance or timing of our obligation to (a) provide holders of our public shares the right to have their shares redeemed or repurchased in connection with a Business Combination pursuant to our post-offering memorandum and articles of association or (b) redeem 100% of our public shares if we do not complete our initial business combination within the completion window or (ii) with respect to the other provisions relating to shareholders' rights or pre-business combination activity, we will provide our public shareholders with the opportunity to redeem all or a portion of their Class A ordinary shares upon such approval at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding public shares; and

● we will not effectuate our initial business combination with another blank check company or a similar company with nominal operations.

In addition, our post-offering memorandum and articles of association will provide that under no circumstances will we redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001 either immediately prior to or upon consummation of our initial business combination.

The Companies Act permits a company incorporated in the Cayman Islands to amend its memorandum and articles of association with the approval of a special resolution. A company's articles of association may specify that the approval of a higher majority is required. Accordingly, although we could amend any of the provisions relating to our proposed offering, structure and business plan which are contained in our post-offering memorandum and articles of association, we view all of these provisions as binding obligations to our shareholders and neither we, nor our officers or directors, will take any action to amend or waive any of these provisions unless we provide dissenting public shareholders with the opportunity to redeem their public shares.

**Anti-Money Laundering—Cayman Islands**

In order to comply with legislation or regulations aimed at the prevention of money laundering, we are required to adopt and maintain anti-money laundering procedures, and may require subscribers to provide evidence to verify their identity and source of funds. Where permitted, and subject to certain conditions, we may also delegate the maintenance of our anti-money laundering procedures (including the acquisition of due diligence information) to a suitable person.

We reserve the right to request such information as is necessary to verify the identity of a subscriber. In some cases the directors may be satisfied that no further information is required since an exemption applies under the Anti-Money Laundering Regulations (as amended) of the Cayman Islands (the "Regulations"). Depending on the circumstances of each application, a detailed verification of identity might not be required where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 subscriber makes the payment for their investment from an account held in the subscriber's
 name at a recognized financial institution; or

(b) the
 subscriber is regulated by a recognized regulatory authority and is based or incorporated
 in, or formed under the law of, a recognized jurisdiction; or

(c) the
 application is made through an intermediary which is regulated by a recognized regulatory
 authority and is based in or incorporated in, or formed under the law of a recognized jurisdiction
 and an assurance is provided in relation to the procedures undertaken on the underlying investors.

For the purposes of these exceptions, recognition of a financial institution, regulatory authority or jurisdiction will be determined in accordance with the Regulations by reference to those jurisdictions recognized by the Cayman Islands Monetary Authority as having equivalent anti-money laundering regulations.

In the event of delay or failure on the part of the subscriber in producing any information required for verification purposes, we may refuse to accept the application, in which case any funds received will be returned without interest to the account from which they were originally debited.

We also reserve the right to refuse to make any payment to a shareholder if our directors or officers suspect or are advised that the payment to such shareholder might result in a breach of applicable anti-money laundering, counter-terrorist financing, prevention or proliferation financing and financial sanctions or other laws or regulations by any person in any relevant jurisdiction, or if such refusal is considered necessary or appropriate to ensure our compliance with any such laws or regulations in any applicable jurisdiction.

If any person resident in the Cayman Islands knows or suspects, or has reasonable grounds for knowing or suspecting, that another person is engaged in criminal conduct or is involved with terrorism or terrorist financing and property or proliferation financing or is the business combination partner of a financial sanction and the information for that knowledge or suspicion came to their attention in the course of business in the regulated sector, or other trade, profession, business or employment, the person will be required to report such knowledge or suspicion to (i) the Financial Reporting Authority of the Cayman Islands or a nominated officer, pursuant to the Proceeds of Crime Act (As Revised) of the Cayman Islands if the disclosure relates to criminal conduct,money laundering or proliferation financing or is the business combination partner of a financial sanction, or (ii) a police officer of the rank of constable or higher, or the Financial Reporting Authority, pursuant to the Terrorism Act (as amended) of the Cayman Islands, if the disclosure relates to involvement with terrorism or terrorist financing and property. Such a report shall not be treated as a breach of confidence or of any restriction upon the disclosure of information imposed by any enactment or otherwise.

Should a shareholder or its duly authorized delegates or agents be, or become (or is believed by the company or its affiliates ("Agents") to be or become) at any time while it owns or holds an interest in the company, (a) an individual or entity named on any sanctions list maintained by the United Kingdom (including as extended to the Cayman Islands by Orders in Council) or the Cayman Islands or any similar list maintained under applicable law or is otherwise subject to applicable sanctions in the Cayman Islands (a "Sanctions Subject") or (b) an entity owned or controlled directly or indirectly by a Sanctions Subject, as determined by the company in its sole discretion, then (i) the company or its Agents may immediately and without notice to the shareholder cease any further dealings with the shareholder or freeze any dealings with the interests or accounts of the shareholder (e.g., by prohibiting payments by or to the shareholder or restricting or suspending dealings with the interests or accounts) or freeze the assets of the company (including interests or accounts of other shareholders who are not Sanctions Subjects), until the relevant person ceases to be a Sanctions Subject or a license is obtained under applicable law to continue such dealings (a "Sanctioned Persons Event"), (ii) the company and its Agents may be required to report such action or failure to comply with information requests and to disclose the shareholder's identity (and/or the identity of the shareholder's beneficial owners and control persons) to the Cayman Islands Monetary Authority, the Cayman Islands Financial Reporting Authority, or other applicable governmental or regulatory authorities (without notifying the Subscriber that such information has been so provided) and (iii) the company and its Agents have no liability whatsoever for any liabilities, costs, expenses, damages and/or losses (including but not limited to any direct, indirect or consequential losses, loss of profit, loss of revenue, loss of reputation and all interest, penalties and legal costs and all other professional costs and expenses) incurred by the shareholder as a result of a Sanctioned Persons Event.

**Data Protection—Cayman Islands**

We have certain duties under the Data Protection Act (As Revised) of the Cayman Islands, as amended from time to time and any regulations, codes of practice or order promulgated pursuant thereto (the "DPA") based on internationally accepted principles of data privacy.

**Privacy Notice**

**Data Protection in the Cayman Islands — Privacy Notice**

**Introduction**

This privacy notice explains the manner in which the company collects, processes and maintains personal data about investors of the company pursuant to the Data Protection Act (As Revised) of the Cayman Islands, as amended from time to time and any regulations, codes of practice or orders promulgated pursuant thereto ("**DPA**").

In the following discussion, the "Company" refers to us and our affiliates and/or delegates, except where the context requires otherwise, and "you" or "your" shall mean the shareholder and shall also include any individual connected to the shareholder.

**Investor Data**

We will collect, use, disclose, retain and secure personal data to the extent reasonably required only and within the parameters that could be reasonably expected during the normal course of business. We will only process, disclose, transfer or retain personal data to the extent legitimately required to conduct our activities of on an ongoing basis or to comply with legal and regulatory obligations to which we are subject.

In our use of this personal data, we will be characterized as a 'data controller', for the purposes of the DPA, while our affiliates and our service providers who may receive this personal data from us in the conduct of our activities may either act as our 'data processors' for the purposes of the DPA or may process personal information for their own lawful purposes in connection with services provided to us.

We may combine personal data that you provide to use with personal data that we collect from, or about, you (including from public sources). This may include personal data collected in an online or offline context including from credit reference agencies and other available public databases or data sources, such as news outlines, websites and other media sources and international sanctions lists. Such personal data may include, without limitation, the following information relating to a shareholder and/or any individuals connected with a shareholder as an investor: name, residential address, email address, contact details, corporate contact information, signature, nationality, place of birth, date of birth, tax identification, credit history, correspondence records, passport number, bank account details, source of funds details and details relating to the shareholder's investment activity. Personal data includes, without limitation, the following information relating to a shareholder and/or any individuals connected with a shareholder as an investor: name, residential address, email address, contact details, corporate contact information, signature, nationality, place of birth, date of birth, tax identification, credit history, correspondence records, passport number, bank account details, source of funds details and details relating to the shareholder's investment activity.

Your personal data will be processed fairly and for lawful purposes, including (a) where the processing is necessary for the company to perform a contract to which you are a party or for taking pre-contractual steps at your request (b) where the processing is necessary for compliance with any legal, tax or regulatory obligation to which the company is subject, (c) where the processing is for the purposes of legitimate interests pursued by the company or by a service provider to whom the data are disclosed, or (d) where you otherwise consent to the processing of personal data for any other specific purpose. As a data controller, we will only use your personal data for the purposes for which we collected it. If we need to use your personal data for an unrelated purpose, we will contact you.

We anticipate that we will share your personal data with the company's service providers for the purposes set out in this privacy notice. We may also share relevant personal data where it is lawful to do so and necessary to comply with our contractual obligations or your instructions or where it is necessary or desirable to do so in connection with any regulatory reporting obligations. In exceptional circumstances, we will share your personal data with regulatory, prosecuting and other governmental agencies or departments, and parties to litigation (whether pending or threatened), in any country or territory including to any other person where we have a public or legal duty to do so (e.g. to assist with detecting and preventing fraud, tax evasion and financial crime or compliance with a court order).

Your personal data shall not be held by the company for longer than necessary with regard to the purposes of the data processing.

The company will only transfer personal data in accordance with the requirements of the DPA, and will apply appropriate technical and organizational information security measures designed to protect against unauthorized or unlawful processing of the personal data and against the accidental loss, destruction or damage to the personal data.

**Who this Affects**

If you are a natural person, this will affect you directly. If you are a corporate investor (including, for these purposes, legal arrangements such as trusts or exempted limited partnerships) that provides us with personal data on individuals connected to you for any reason in relation to your investment into the company, this will be relevant for those individuals and you should transmit the content of this Privacy Notice to such individuals or otherwise advise them of its content.

**How the Company May Use a Shareholder's Personal Data** 

The Company, as the data controller, may collect, store and use personal data for lawful purposes, including, in particular:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) where
 this is necessary for the performance of our rights and obligations under any purchase agreements;

(ii) where
 this is necessary for compliance with any legal and regulatory obligation to which we are
 subject (such as compliance with anti-money laundering, counter terrorist financing, prevention
 of proliferation financing, financial sanctions and FATCA/CRS requirements); and/or

(iii) where
 this is necessary for the purposes of our legitimate interests and such interests are not
 overridden by your interests, fundamental rights or freedoms.

Should we wish to use personal data for other specific purposes (including, if applicable, any purpose that requires your consent), we will contact you.

**Why We May Transfer Your Personal Data**

We will not sell your personal data. Any transfer of personal data outside of the Cayman Islands shall be in accordance with the requirements of the DPA. Where necessary, we will ensure that separate and appropriate legal agreements are put in place with the recipient of that data.

We anticipate disclosing personal data to persons who provide services to us and their respective affiliates (which may include certain entities located outside the United States, the Cayman Islands or the European Economic Area), who will process your personal data on our behalf. Any transfer of personal data outside of the Cayman Islands shall be in accordance with the requirements of the DPA. Where necessary, we will ensure that separate and appropriate legal agreements are put in place with the recipient of that data.

**The Data Protection Measures We Take**

Any transfer of personal data by us or our duly authorized affiliates and/or delegates outside of the Cayman Islands shall be in accordance with the requirements of the DPA.

We and our duly authorized affiliates and/or delegates shall apply appropriate technical and organizational information security measures designed to protect against unauthorized or unlawful processing of personal data, and against accidental loss or destruction of, or damage to, personal data.

We shall notify you of any personal data breach that is reasonably likely to result in a risk to your interests, fundamental rights or freedoms or those data subjects to whom the relevant personal data relates. 'Data subject' means any living individual who can be identified, directly or indirectly, by the personal data.

You have certain rights under the DPA, including (a) the right to be informed as to how we collect and use your personal data (and this privacy notice fulfils the company's obligation in this respect) (b) the right to obtain a copy of your personal data (c) the right to require us to stop direct marketing (d) the right to have inaccurate or incomplete personal data corrected (e) the right to withdraw your consent and require us to stop processing or restrict the processing, or not begin the processing of your personal data (f) the right to be notified of a data breach (unless the breach is unlikely to be prejudicial) (g) the right to obtain information as to any countries or territories outside the Cayman Islands to which we, whether directly or indirectly, transfer, intend to transfer or wish to transfer your personal data, general measures we take to ensure the security of personal data and any information available to us as to the source of your personal data (h) the right to complain to the Office of the Ombudsman of the Cayman Islands and (i) the right to require us to delete your personal data in some limited circumstances.

If you consider that your personal data has not been handled correctly, or you are not satisfied with the company's responses to any requests you have made regarding the use of your personal data, you have the right to complain to the Cayman Islands' Ombudsman. The Ombudsman can be contacted by email at info@ombudsman.ky.info@ombudsman.ky or by accessing their website: ombudsman.ky.

**SECURITIES ELIGIBLE FOR FUTURE SALE**

Immediately after this offering, we will have 9,082,529 ordinary shares (or 10,413,243 ordinary shares if the underwriter's over-allotment option is exercised in full) issued and outstanding on an as-converted basis. Of these shares, the Class A ordinary shares sold in this offering (6,000,000 Class A ordinary shares if the underwriter's over-allotment option is not exercised and 6,900,000 Class A ordinary shares if the underwriter's over-allotment option is exercised in full) will be freely tradable without restriction or further registration under the Securities Act, except for any Class A ordinary shares purchased by one of our affiliates within the meaning of Rule 144 under the Securities Act.

All of the outstanding founder shares (2,571,429 Class B ordinary shares if the underwriter's over-allotment option is not exercised and 2,957,143 Class B ordinary shares if the underwriter's over-allotment option is exercised in full) and all of the outstanding private units (221,100 private units if the underwriter's over-allotment option is not exercised and 234,600 private units if the underwriter's over-allotment option is exercised in full), including the private shares and shares underlying the private units, will be restricted securities under Rule 144, in that they were issued in private transactions not involving a public offering, and are subject to applicable transfer restrictions as set forth elsewhere in this prospectus.

***Rule 144***

Pursuant to Rule 144, a person who has beneficially owned restricted shares or rights for at least six months would be entitled to sell their securities, provided that (i) such person is not deemed to have been one of our affiliates at the time of, or at any time during the three months preceding, a sale and (ii) we are subject to the Exchange Act's periodic reporting requirements for at least three months before the sale and have filed all required reports under Section 13 or 15(d) of the Exchange Act during the twelve months (or such shorter period as we were required to file reports) preceding the sale.

Persons who have beneficially owned restricted shares or rights for at least six months but who are our affiliates at the time of, or at any time during the three months preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell within any three-month period only a number of securities that does not exceed the greater of:

● 1% of the total number of Class A ordinary shares then-outstanding, which will equal 65,111 shares immediately after this offering (or 74,561 shares if the underwriter exercises its over-allotment option in full); or

● the average weekly reported trading volume of the Class A ordinary shares during the four calendar weeks preceding the filing of a notice on Form 144 with respect to the sale.

Sales by our affiliates under Rule 144 are also limited by manner of sale provisions and notice requirements and to the availability of current public information about us.

***Restrictions on the Use of Rule 144 by Shell Companies or Former Shell Companies***

Rule 144 is not available for the resale of securities initially issued by shell companies (other than business combination related shell companies) or issuers that have been at any time previously a shell company. However, Rule 144 also includes an important exception to this prohibition if the following conditions are met:

● the issuer of the securities that was formerly a shell company has ceased to be a shell company;

● the issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act;

● the issuer of the securities has filed all Exchange Act reports and materials required to be filed, as applicable, during the preceding twelve months (or such shorter period that the issuer was required to file such reports and materials), other than Form 8-K reports; and

● at least one year has elapsed from the time that the issuer filed current Form 10 type information with the SEC reflecting its status as an entity that is not a shell company.

As a result, our initial shareholder will be able to sell their founder shares and private units (including the Class A ordinary shares upon the conversion thereof), as applicable, pursuant to Rule 144 without registration one year after we have completed our initial business combination.

**Registration Rights**

The holders of the founder shares, private units (and underlying securities) and any units (and underlying securities) that may be issued on conversion of working capital loans are entitled to registration rights pursuant to a registration rights agreement requiring us to register such securities for resale (in the case of the founder shares, only after conversion to our ordinary shares). The holders of these securities are entitled to make up to three demands, excluding short form registration demands, that we register such securities. In addition, the holders have certain "piggy-back" registration rights with respect to registration statements filed subsequent to our completion of our initial business combination and rights to require us to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that we will not be required to effect or permit any registration or cause any registration statement to become effective until termination of the applicable lock-up period as described under "*Principal Shareholders* — *Restrictions on Transfers of Founder Shares and Private Units*." We will bear the expenses incurred in connection with the filing of any such registration statements.

**Listing of Securities**

We have applied to list our units on the Nasdaq under the symbol "ALOGU." Once the securities comprising the units begin separate trading, we expect that the Class A ordinary shares and rights will be listed on the Nasdaq under the symbols "ALOG" and "ALOGR" respectively. The units will automatically separate into their component parts and will not be traded following the completion of our initial business combination.

**TAXATION**

The following summary of certain Cayman Islands and U.S. federal income tax consequences of an investment in our units, each consisting of one Class A ordinary share and one right, which we refer to collectively as our securities, is based upon laws and relevant interpretations thereof in effect as of the date of this prospectus, all of which are subject to change. This summary does not deal with all possible tax consequences relating to an investment in our Class A ordinary shares, such as the tax consequences under state, local and other tax laws.

Prospective investors should consult their advisors on the possible tax consequences of investing in our securities under the laws of their country of citizenship, residence or domicile.

**Cayman Islands Tax Considerations**

The following is a discussion on certain Cayman Islands income tax consequences of an investment in the securities of the company. The discussion is a general summary of present law, which is subject to prospective and retroactive change. It is not intended as tax advice, does not consider any investor's particular circumstances, and does not consider tax consequences other than those arising under Cayman Islands law.

**Under Existing Cayman Islands Laws**

The Cayman Islands currently levies no taxes on individuals or corporations based upon profits, income, gains, or appreciation and there is no taxation in the nature of inheritance tax, gift tax or estate duty. There are no other taxes likely to be material to us levied by the Government of the Cayman Islands except for stamp duties which may be applicable on instruments executed in, or, after execution, brought within the jurisdiction of the Cayman Islands or produced before a court of the Cayman Islands. No stamp duty is payable in the Cayman Islands on the issue of shares by, or any transfers of shares of, Cayman Islands companies (except those which hold interests in land in the Cayman Islands). There are no exchange control regulations or currency restrictions in the Cayman Islands.

Payments of dividends and capital in respect of our securities will not be subject to taxation in the Cayman Islands and no withholding will be required on the payment of a dividend or capital to any holder of the securities nor will gains derived from the disposal of the securities be subject to Cayman Islands income or corporate tax.

No stamp duty is payable in respect of the issue of our securities or on an instrument of transfer in respect of such securities. An instrument of transfer in respect of a unit or an ordinary share is stampable if executed in or, after the execution, brought into the Cayman Islands or produced before a court of the Cayman Islands.

[The Company has been incorporated under the laws of the Cayman Islands as an exempted company with limited liability and, as such, [may apply for /has applied for and received] an undertaking from the Financial Secretary of the Cayman Islands in the following form:

**The Tax Concessions Act (As Revised) Undertaking as to Tax Concessions** 

In accordance with the provision of Section 6 of The Tax Concessions Act (As Revised), the following undertaking is given to the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. That
 no law which is thereafter enacted in the Cayman Islands imposing any tax to be levied on
 profits, income, gains or appreciations shall apply to the Company or its operations; and

2. In
 addition, that no tax to be levied on profits, income, gains or appreciations or which is
 in the nature of estate duty or inheritance tax shall be payable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. On
 or in respect of the shares, debentures or other obligations of the Company; or

b. by
 way of the withholding in whole or part, of any relevant payment as defined in the Tax Concessions
 Act (As Revised).]<sup>1</sup>

**Material United States Federal Income Tax Considerations**

***General***

 ****

The following discussion summarizes certain U.S. federal income tax considerations generally applicable to the acquisition, ownership and disposition of our units (each consisting of one Class A ordinary share and one right) that are purchased in this offering by U.S. Holders (as defined below) and Non-U.S. Holders (as defined below).

Because the components of a unit are generally separable at the option of the holder, the holder of a unit generally should be treated, for U.S. federal income tax purposes, as the owner of the underlying Class A ordinary shares and right components of the unit. As a result, the discussion below with respect to holders of Class A ordinary shares and rights should also apply to holders of units (as the deemed owners of the underlying Class A ordinary shares and rights that constitute the units).

This discussion is limited to certain U.S. federal income tax considerations to beneficial owners of our securities who are initial purchasers of a unit pursuant to this offering and hold the unit and each component of the unit as a capital asset under the U.S. Internal Revenue Code of 1986, as amended (the "Code"). This discussion assumes that the Class A ordinary shares and rights will trade separately and that any distributions made (or deemed made) by us on our Class A ordinary shares and any consideration received (or deemed received) by a holder in consideration for the sale or other disposition of our securities will be in U.S. dollars. This discussion is a summary only and does not consider all aspects of U.S. federal income taxation that may be relevant to the acquisition, ownership and disposition of a unit by a prospective investor in light of its particular circumstances, or specific considerations that may apply to investors that are subject to special rules under U.S. federal income tax laws, including, but not limited to:

● our sponsor, officers or directors;

● banks, financial institutions or financial services entities;

● broker-dealers;

● taxpayers that are subject to the mark-to-market accounting rules or the "applicable financial statement" accounting rules under Section 451(b) of the Code;

● tax-exempt entities;

● S-corporations;

● governments or agencies or instrumentalities thereof;

● insurance companies;

● regulated investment companies;

● real estate investment trusts;

● qualified foreign pension funds;

● expatriates or former long-term residents of the United States;

● persons that actually or constructively own 5% or more of our shares;

● persons that acquired our securities pursuant to an exercise of employee share options, in connection with employee share incentive plans or otherwise as compensation or in connection with services;

● persons that hold our securities as part of a straddle, constructive sale, hedging, conversion or other integrated or similar transaction; or

● U.S. Holders (as defined below) whose functional currency is not the U.S. dollar;

● Controlled foreign corporations; or

● Passive foreign investment companies.

Moreover, the discussion below is based upon the provisions of the Code, the Treasury regulations promulgated thereunder and administrative and judicial interpretations thereof, all as of the date hereof. Those authorities may be repealed, revoked, modified or subject to differing interpretations, possibly on a retroactive basis, so as to result in U.S. federal income tax consequences different from those discussed below. Furthermore, this discussion does not address any alternative minimum tax considerations, any aspect of U.S. federal non-income tax laws, such as gift, estate or Medicare contribution tax laws, or state, local or non-U.S. tax laws or considerations under any applicable tax treaty.

We have not sought, and will not seek, a ruling from the IRS as to any U.S. federal income tax consequence described herein. The IRS may disagree with the discussion herein, and its determination may be upheld by a court. Moreover, there can be no assurance that future legislation, regulations, administrative rulings or court decisions will not adversely affect the accuracy of the statements in this discussion.

As used herein, the term "U.S. Holder" means a beneficial owner of units, Class A ordinary shares or rights that is for U.S. federal income tax purposes:

● an individual citizen or resident of the United States;

● a corporation (or other entity treated as a corporation for U.S. federal income tax purposes) that is created or organized (or treated as created or organized) in or under the laws of the United States, any state thereof or the District of Columbia;

● an estate the income of which is subject to U.S. federal income taxation regardless of its source; or

● a trust if (A) a court within the United States is able to exercise primary supervision over the administration of the trust and one or more U.S. persons have the authority to control all substantial decisions of the trust, or (B) it has in effect under applicable U.S. Treasury regulations a valid election to be treated as a U.S. person.

This discussion does not consider the tax treatment of partnerships or other pass-through entities or persons who hold our securities through such entities. If a partnership (or other entity or arrangement classified as a partnership for U.S. federal income tax purposes) is the beneficial owner of our securities, the U.S. federal income tax treatment of a partner in the partnership (or a member of such other entity or arrangement) generally will depend on the status of the partner and the activities of the partner (or member) and the partnership (or such other entity or arrangement). If you are a partner of a partnership (or a member of such other entity or arrangement) holding our securities, we urge you to consult your own tax advisor.

THIS DISCUSSION IS FOR INFORMATIONAL PURPOSES ONLY, IS ONLY A SUMMARY OF CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS ASSOCIATED WITH THE ACQUISITION, OWNERSHIP AND DISPOSITION OF OUR SECURITIES, AND IS NOT A SUBSTITUTE FOR CAREFUL TAX PLANNING. EACH PROSPECTIVE INVESTOR IN OUR SECURITIES IS URGED TO CONSULT ITS TAX ADVISOR WITH RESPECT TO THE PARTICULAR TAX CONSEQUENCES TO SUCH INVESTOR OF THE ACQUISITION, OWNERSHIP AND DISPOSITION OF OUR SECURITIES, INCLUDING THE APPLICABILITY AND EFFECT OF U.S. FEDERAL, STATE, LOCAL, AND NON-UNITED STATES TAX LAWS, AS WELL AS UNDER ANY APPLICABLE TAX TREATY.

***Allocation of Purchase Price and Characterization of a Unit***

No statutory, administrative or judicial authority directly addresses the treatment of a unit or instruments similar to a unit for U.S. federal income tax purposes, and therefore, that treatment is not entirely clear. The acquisition of a unit should be treated for U.S. federal income tax purposes as the acquisition of one Class A ordinary share and one right to receive one-seventh of one Class A ordinary share. We intend to treat the acquisition of a unit in this manner and, by purchasing a unit, you must adopt such treatment for applicable tax purposes. For U.S. federal income tax purposes, each holder of a unit will agree to allocate the purchase price paid by such holder for such unit between the one Class A ordinary share and the right based on the relative fair market value of each at the time of issuance. Under U.S. federal income tax law, each investor must make his or her own determination of such value based on all the relevant facts and circumstances. Therefore, we strongly urge each investor to consult his or her tax advisor regarding the determination of value for these purposes. The price allocated to each Class A ordinary share and right should constitute the shareholder's initial tax basis in such share or right. Any disposition of a unit should be treated for U.S. federal income tax purposes as a disposition of the Class A ordinary share and one right comprising the unit, and the amount realized on the disposition should be allocated between the ordinary share and right based on their respective relative fair market values at the time of disposition (as determined by each such unit holder based on all relevant facts and circumstances). The separation of the Class A ordinary share and right constituting a unit will not be a taxable event for U.S. federal income tax purposes.

The foregoing treatment of the units, the Class A ordinary shares and rights and a holder's purchase price allocation are not binding on the IRS or the courts. Because there are no authorities that directly address instruments that are similar to the units, no assurance can be given that the IRS or the courts will agree with the characterization described above or the discussion below. Accordingly, each prospective investor is urged to consult its tax advisor regarding the tax consequences of an investment in a unit (including alternative characterizations of a unit). The balance of this discussion assumes that the characterization of the units described above is respected for U.S. federal income tax purposes.

***U.S. Holders***

*Taxation of Distributions*

Subject to the passive foreign investment company ("PFIC") rules discussed below, a U.S. Holder generally will be required to include in gross income as dividends the amount of any distribution paid on our Class A ordinary shares to the extent the distribution is paid out of our current or accumulated earnings and profits (as determined under U.S. federal income tax principles). Such dividends paid by us will be taxable to a corporate U.S. Holder at regular rates and will not be eligible for the dividends-received deduction generally allowed to domestic corporations in respect of dividends received from other domestic corporations. Distributions in excess of such earnings and profits generally will be applied against and reduce the U.S. Holder's basis in its Class A ordinary shares (but not below zero) and, to the extent in excess of such basis, will be treated as gain from the sale or exchange of such Class A ordinary shares. See "— *Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Class A ordinary shares and Rights*" for more information.

With respect to non-corporate U.S. Holders, under tax laws currently in effect and subject to certain exceptions (including, but not limited to, dividends treated as investment income for purposes of investment interest deduction limitations), dividends generally will be taxed at the lower applicable long-term capital gains rate only if our Class A ordinary shares are readily tradable on an established securities market in the United States, the company is not treated as a PFIC at the time the dividend was paid or in the preceding year and provided certain holding period requirements are met. See "—*Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Class A ordinary shares and Rights*" for more information. It is unclear, however, whether certain redemption rights described in this prospectus may suspend the running of the applicable holding period for this purpose. U.S. Holders should consult their tax advisors regarding the availability of such lower rate for any dividends paid with respect to our Class A ordinary shares.

*Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Class A ordinary shares and Rights*

Subject to the PFIC rules discussed below, a U.S. Holder generally will recognize capital gain or loss on the sale or other taxable disposition of our Class A ordinary shares or rights (including on our dissolution and liquidation if we do not complete our initial business combination within the required time period). Any such capital gain or loss generally will be long-term capital gain or loss if the U.S. Holder's holding period for such Class A ordinary shares or rights exceeds one year. It is unclear, however, whether certain redemption rights described in this prospectus may suspend the running of the applicable holding period for this purpose.

The amount of gain or loss recognized on a sale or other taxable disposition generally will be equal to the difference between (i) the sum of the amount of cash and the fair market value of any property received in such disposition (or, if the Class A ordinary shares or rights are held as part of units at the time of the disposition, the portion of the amount realized on such disposition that is allocated to the Class A ordinary shares or rights based upon the then relative fair market values of the Class A ordinary shares and the rights included in the units) and (ii) the U.S. Holder's adjusted tax basis in its Class A ordinary shares or rights so disposed of. A U.S. Holder's adjusted tax basis in its Class A ordinary shares and rights generally will equal the U.S. Holder's acquisition cost (that is, the portion of the purchase price of a unit allocated to a Class A ordinary share or right to purchase one-seventh of one Class A ordinary shares, as described above under "—Allocation of Purchase Price and Characterization of a Unit") reduced by any prior distributions treated as a return of capital. Long-term capital gain realized by a non-corporate U.S. Holder is currently eligible to be taxed at reduced rates. See "— *Acquisition of Class A ordinary shares Pursuant to Rights*" for more information. The deduction of capital losses is subject to certain limitations.

*Redemption of Class A ordinary shares*

Subject to the PFIC rules discussed below, in the event that a U.S. Holder's Class A ordinary shares are redeemed pursuant to the redemption provisions described in this prospectus under "Description of Securities— Class A ordinary shares" or if we purchase a U.S. Holder's Class A ordinary shares in an open market transaction (referred to herein as a "redemption"), the treatment of the redemption for U.S. federal income tax purposes will depend on whether it qualifies as a sale of the Class A ordinary shares under Section 302 of the Code. If the redemption qualifies as a sale of Class A ordinary shares, the U.S. Holder will be treated as described under "—Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Class A ordinary shares and Rights" above. If the redemption does not qualify as a sale of Class A ordinary shares, the U.S. Holder will be treated as receiving a corporate distribution with the tax consequences described above under "—Taxation of Distributions." Whether a redemption qualifies for sale treatment will depend largely on the total number of our shares treated as held by the U.S. Holder (including any shares constructively owned by the U.S. Holder described in the following paragraph) relative to all of our shares outstanding both before and after such redemption. The redemption of Class A ordinary shares generally will be treated as a sale of the Class A ordinary shares (rather than as a corporate distribution) if such redemption (i) is "substantially disproportionate" with respect to the U.S. Holder, (ii) results in a "complete termination" of the U.S. Holder's interest in us, or (iii) is "not essentially equivalent to a dividend" with respect to the U.S. Holder. These tests are explained more fully below.

In determining whether any of the foregoing tests are satisfied, a U.S. Holder takes into account not only our Class A ordinary shares actually owned by the U.S. Holder, but also our shares that are constructively owned by it. A U.S. Holder may constructively own, in addition to shares owned directly, shares owned by certain related individuals and entities in which the U.S. Holder has an interest or that have an interest in such U.S. Holder, as well as any shares the U.S. Holder has a right to acquire by exercise of an option, which would generally include Class A ordinary shares that could be acquired pursuant to the conversion of rights. In order to meet the substantially disproportionate test, the percentage of our outstanding voting shares actually and constructively owned by the U.S. Holder immediately following the redemption of Class A ordinary shares must, among other requirements, be less than 80% of the percentage of our outstanding voting shares actually and constructively owned by the U.S. Holder immediately before the redemption. Prior to our initial business combination, the Class A ordinary shares may not be treated as voting shares for this purpose and, consequently, this substantially disproportionate test may not be applicable. There will be a complete termination of a U.S. Holder's interest if either (i) all of our shares actually and constructively owned by the U.S. Holder are redeemed or (ii) all of our shares actually owned by the U.S. Holder are redeemed and the U.S. Holder is eligible to waive, and effectively waives in accordance with specific rules, the attribution of shares owned by certain family members and the U.S. Holder does not constructively own any other shares of ours. The redemption of the Class A ordinary shares will not be essentially equivalent to a dividend with respect to a U.S. Holder if it results in a "meaningful reduction" of the U.S. Holder's proportionate interest in us. Whether the redemption will result in a meaningful reduction in a U.S. Holder's proportionate interest in us will depend on the particular facts and circumstances. However, the IRS has indicated in a published ruling that even a small reduction in the proportionate interest of a small minority shareholder in a publicly held corporation who exercises no control over corporate affairs may constitute such a "meaningful reduction." A U.S. Holder should consult with its tax advisors as to the tax consequences of a redemption.

If none of the foregoing tests are satisfied, then the redemption will be treated as a corporate distribution and the tax effects will be as described under "—Taxation of Distributions" above. After the application of those rules, any remaining tax basis of the U.S. Holder in the redeemed Class A ordinary shares will be added to the U.S. Holder's adjusted tax basis in its remaining shares, or, if it has none, to the U.S. Holder's adjusted tax basis in other shares constructively owned by it. A U.S. Holder should consult with its tax advisors as to the allocation of any remaining tax basis.

*Acquisition of Class A ordinary shares Pursuant to Rights*

The treatment of the rights to acquire Class A ordinary shares is uncertain. The right may be viewed as a forward contract, derivative security or similar interest in our company (analogous to a warrant or option with no exercise price), and thus the holder of the right would not be viewed as owning the Class A ordinary shares issuable pursuant to the rights until such Class A ordinary shares are actually issued. There may be other alternative characterizations of the rights that the IRS could successfully assert, including that the rights are treated as equity in our company at the time the rights are issued.

The tax consequences of an acquisition of our Class A ordinary shares pursuant to rights are unclear and will depend on the treatment of any initial business combination. Accordingly, U.S. Holders should consult their tax advisors regarding the tax consequences of an acquisition of Class A ordinary shares pursuant to rights and the consequences of any initial business combination.

*Passive Foreign Investment Company Rules*

A non-U.S. corporation will be classified as a PFIC for U.S. federal income tax purposes if either (i) at least 75% of its gross income in a taxable year, including its pro rata share of the gross income of any corporation in which it is considered to own at least 25% of the shares by value, is passive income or (ii) at least 50% of its assets in a taxable year (ordinarily determined based on fair market value and averaged quarterly over the year), including its pro rata share of the assets of any corporation in which it is considered to own at least 25% of the shares by value, are held for the production of, or produce, passive income. Passive income generally includes dividends, interest, rents and royalties (other than rents or royalties derived from the active conduct of a trade or business) and gains from the disposition of passive assets.

Because we are a blank check company, with no current active business, we believe that it is likely that we will meet the PFIC asset or income test for our current taxable year. However, pursuant to a start-up exception, a corporation will not be a PFIC for the first taxable year the corporation has gross income (the "start-up year"), if (i) no predecessor of the corporation was a PFIC; (i) the corporation satisfies the IRS that it will not be a PFIC for either of the two taxable years following the start-up year; and (iii) the corporation is not in fact a PFIC for either of those years. The applicability of the start-up exception to us is uncertain and will not be known until after the close of our current taxable year (or possibly not until after the close of the first two taxable years following our start-up year, as described under the start-up exception). After the acquisition of a company or assets in a business combination, we may still meet one of the PFIC tests depending on the timing of the acquisition and the amount of our passive income and assets as well as the passive income and assets of the acquired business. If the company that we acquire in a business combination is a PFIC, then we will likely not qualify for the start-up exception and will be a PFIC for our current taxable year. Our actual PFIC status for our current taxable year or any subsequent taxable year, however, will not be determinable until after the end of such taxable year. Accordingly, there can be no assurance with respect to our status as a PFIC for our current taxable year or any future taxable year.

Although our PFIC status is determined annually, an initial determination that our company is a PFIC will generally apply for subsequent years to a U.S. Holder who held Class A ordinary shares while we were a PFIC, whether or not we meet the test for PFIC status in those subsequent years. If we are determined to be a PFIC for any taxable year (or portion thereof) that is included in the holding period of a U.S. Holder of our Class A ordinary shares and, in the case of our Class A ordinary shares, the U.S. Holder did not make either a qualified electing fund ("QEF") election for our first taxable year as a PFIC in which the U.S. Holder held (or was deemed to hold) Class A ordinary shares, a QEF election along with a purging election, or a mark-to-market election, each as described below, such U.S. Holder generally will be subject to special rules with respect to (i) any gain recognized by the U.S. Holder on the sale or other disposition of its Class A ordinary shares and (ii) any "excess distribution" made to the U.S. Holder (generally, any distributions to such U.S. Holder during a taxable year of the U.S. Holder that are greater than 125% of the average annual distributions received by such U.S. Holder in respect of the Class A ordinary shares during the three preceding taxable years of such U.S. Holder or, if shorter, such U.S. Holder's holding period for the Class A ordinary shares).

Under these rules:

● the U.S. Holder's gain or excess distribution will be allocated ratably over the U.S. Holder's holding period for the Class A ordinary shares or rights;

● the amount allocated to the U.S. Holder's taxable year in which the U.S. Holder recognized the gain or received the excess distribution, or to the period in the U.S. Holder's holding period before the first day of our first taxable year in which we are a PFIC, will be taxed as ordinary income;

● the amount allocated to other taxable years (or portions thereof) of the U.S. Holder and included in its holding period will be taxed at the highest tax rate in effect for that year and applicable to the U.S. Holder; and

● an additional tax equal to the interest charge generally applicable to underpayments of tax will be imposed on the U.S. Holder with respect to the tax attributable to each such other taxable year of the U.S. Holder.

In general, if we are determined to be a PFIC, a U.S. Holder may avoid the PFIC tax consequences described above in respect of our Class A ordinary shares by making a timely and valid QEF election (if eligible to do so) to include in income its pro rata share of our net capital gains (as long-term capital gain) and other earnings and profits (as ordinary income), on a current basis, in each case whether or not distributed, in the taxable year of the U.S. Holder in which or with which our taxable year ends. A U.S. Holder generally may make a separate election to defer the payment of taxes on undistributed income inclusions under the QEF rules, but if deferred, any such taxes will be subject to an interest charge.

It is not entirely clear how various aspects of the PFIC rules apply to the rights. However, a U.S. Holder may not make a QEF election with respect to its rights to acquire our Class A ordinary shares. As a result, if a U.S. Holder sells or otherwise disposes of such rights and we were a PFIC at any time during the U.S. Holder's holding period of such rights, any gain recognized generally will be treated as an excess distribution, taxed as described above. If a U.S. Holder that convert such rights properly makes a QEF election with respect to the newly acquired Class A ordinary shares (or has previously made a QEF election with respect to our Class A ordinary shares), the QEF election will apply to the newly acquired Class A ordinary shares. Notwithstanding such QEF election, the adverse tax consequences relating to PFIC shares, adjusted to take into account the current income inclusions resulting from the QEF election, will continue to apply with respect to such newly acquired Class A ordinary shares (which generally will be deemed to have a holding period for purposes of the PFIC rules that includes the period the U.S. Holder held the rights), unless the U.S. Holder makes a purging election under the PFIC rules. Under the purging election, the U.S. Holder will be deemed to have sold such shares at their fair market value and any gain recognized on such deemed sale will be treated as an excess distribution, as described above. As a result of the purging election, the U.S. Holder will have a new basis and holding period in the Class A ordinary shares acquired with respect to the rights for purposes of the PFIC rules. A U.S. Holder should consult with its own tax advisors as to the application of the rules governing purging elections to its particular circumstances.

The QEF election is made on a shareholder-by-shareholder basis and, once made, can be revoked only with the consent of the IRS. A U.S. Holder generally makes a QEF election by attaching a completed IRS Form 8621 (Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund), including the information provided in a PFIC Annual Information Statement, to a timely filed U.S. federal income tax return for the tax year to which the election relates. Retroactive QEF elections generally may be made only by filing a protective statement with such return and if certain other conditions are met or with the consent of the IRS. U.S. Holders should consult their tax advisors regarding the availability and tax consequences of a retroactive QEF election under their particular circumstances.

In order to comply with the requirements of a QEF election, a U.S. Holder must receive a PFIC Annual Information Statement from us. If we determine we are a PFIC for any taxable year, upon written request, we will endeavor to provide to a U.S. Holder such information as the IRS may require, including a PFIC Annual Information Statement, in order to enable the U.S. Holder to make and maintain a QEF election, but there is no assurance that we will timely provide such required information. There is also no assurance that we will have timely knowledge of our status as a PFIC in the future or of the required information to be provided.

If a U.S. Holder has made a QEF election with respect to our Class A ordinary shares, and the excess distribution rules discussed above do not apply to such shares (because of a timely QEF election for our first taxable year as a PFIC in which the U.S. Holder holds (or is deemed to hold) such shares or a purge of the PFIC taint pursuant to a purging election, as described above), any gain recognized on the sale of our Class A ordinary shares generally will be taxable as capital gain and no additional tax or interest charge will be imposed under the PFIC rules. As discussed above, if we are a PFIC for any taxable year, a U.S. Holder of our Class A ordinary shares that has made a QEF election will be currently taxed on its pro rata share of our earnings and profits, whether or not distributed for such year. A subsequent distribution of such earnings and profits that were previously included in income generally should not be taxable when distributed to such U.S. Holder. The tax basis of a U.S. Holder's shares in a QEF will be increased by amounts that are included in income, and decreased by amounts distributed but not taxed as dividends, under the above rules. In addition, if we are not a PFIC for any taxable year, such U.S. Holder will not be subject to the QEF inclusion regime with respect to our Class A ordinary shares for such taxable year.

Alternatively, if we are a PFIC and our Class A ordinary shares constitute "marketable stock," a U.S. Holder may avoid the adverse PFIC tax consequences discussed above if such U.S. Holder, at the close of the first taxable year in which it holds (or is deemed to hold) our Class A ordinary shares, makes a mark-to-market election with respect to such shares for such taxable year. Such U.S. Holder generally will include for each of its taxable years as ordinary income the excess, if any, of the fair market value of its Class A ordinary shares at the end of such year over its adjusted basis in its Class A ordinary shares. The U.S. Holder also will recognize an ordinary loss in respect of the excess, if any, of its adjusted basis of its Class A ordinary shares over the fair market value of its Class A ordinary shares at the end of its taxable year (but only to the extent of the net amount of previously included income as a result of the mark-to-market election). The U.S. Holder's basis in its Class A ordinary shares will be adjusted to reflect any such income or loss amounts, and any further gain recognized on a sale or other taxable disposition of its Class A ordinary shares will be treated as ordinary income. Currently, a mark-to-market election may not be made with respect to rights.

The mark-to-market election is available only for "marketable stock," generally, stock that is regularly traded on a national securities exchange that is registered with the Securities and Exchange Commission, including Nasdaq (on which we intend to list the Class A ordinary shares), or on a foreign exchange or market that the IRS determines has rules sufficient to ensure that the market price represents a legitimate and sound fair market value. If made, a mark-to-market election would be effective for the taxable year for which the election was made and for all subsequent taxable years unless the Class A ordinary shares ceased to qualify as "marketable stock" for purposes of the PFIC rules or the IRS consented to the revocation of the election. U.S. Holders should consult their tax advisors regarding the availability and tax consequences of a mark-to-market election with respect to our Class A ordinary shares under their particular circumstances.

If we are a PFIC and, at any time, have a foreign subsidiary that is classified as a PFIC, U.S. Holders generally would be deemed to own a portion of the shares of such lower-tier PFIC, and generally could incur liability for the deferred tax and interest charge described above if we receive a distribution from, or dispose of all or part of our interest in, the lower-tier PFIC or the U.S. Holders otherwise were deemed to have disposed of an interest in the lower-tier PFIC. We will endeavor to cause any lower-tier PFIC to provide to a U.S. Holder the information that may be required to make or maintain a QEF election with respect to the lower-tier PFIC. There can be no assurance that we will have timely knowledge of the status of any such lower-tier PFIC. In addition, we may not hold a controlling interest in any such lower-tier PFIC and thus there can be no assurance we will be able to cause the lower-tier PFIC to provide such required information. U.S. Holders are urged to consult their tax advisors regarding the tax issues raised by lower-tier PFICs.

A U.S. Holder that owns (or is deemed to own) shares in a PFIC during any taxable year of the U.S. Holder may have to file an IRS Form 8621 (whether or not a QEF or market-to-market election is made) and such other information as may be required by the U.S. Treasury Department. Failure to do so, if required, will extend the statute of limitations until such required information is furnished to the IRS.

The rules dealing with PFICs and with the QEF and mark-to-market elections are very complex and are affected by various factors in addition to those described above. Accordingly, U.S. Holders of our Class A ordinary shares and rights should consult their own tax advisors concerning the application of the PFIC rules to our securities under their particular circumstances.

*Tax Reporting*

Certain U.S. Holders may be required to file an IRS Form 926 (Return by a U.S. Transferor of Property to a Foreign Corporation) to report a transfer of property (including cash) to us. Substantial penalties may be imposed on a U.S. Holder that fails to comply with this reporting requirement and the period of limitations on assessment and collection of U.S. federal income taxes will be extended in the event of a failure to comply. Furthermore, certain U.S. Holders who are individuals and certain entities will be required to report information with respect to such U.S. Holder's investment in "specified foreign financial assets" on IRS Form 8938 (Statement of Specified Foreign Financial Assets), subject to certain exceptions. An interest in the company constitutes a specified foreign financial asset for these purposes. Persons who are required to report specified foreign financial assets and fail to do so may be subject to substantial penalties and the period of limitations on assessment and collection of U.S. federal income taxes will be extended in the event of a failure to comply. Potential investors are urged to consult their tax advisors regarding the foreign financial asset and other reporting obligations and their application to an investment in our Class A ordinary shares and rights.

*Non-U.S. Holders*

This section applies to you if you are a "Non-U.S. Holder." As used herein, the term "Non-U.S. Holder" means a beneficial owner of our units, Class A ordinary shares(other than a partnership or other entity or arrangement treated as a partnership for U.S. federal income tax purposes) who or that is for U.S. federal income tax purposes:

● a non-resident alien individual (other than certain former citizens and residents of the United States subject to U.S. tax as expatriates);

● a foreign corporation; or

● an estate or trust that is not a U.S. Holder;

but generally does not include an individual who is present in the United States for 183 days or more in the taxable year of disposition. If you are such an individual, you should consult your tax advisor regarding the U.S. federal income tax consequences of the sale or other disposition of our securities.

Dividends (including constructive dividends) paid or deemed paid to a Non-U.S. Holder in respect of our Class A ordinary shares generally will not be subject to U.S. federal income tax, unless the dividends are effectively connected with the Non-U.S. Holder's conduct of a trade or business within the United States (and, if required by an applicable income tax treaty, are attributable to a permanent establishment or fixed base that such holder maintains in the United States). In addition, a Non-U.S. Holder generally will not be subject to U.S. federal income tax on any gain attributable to a sale or other taxable disposition of our Class A ordinary shares or rights unless such gain is effectively connected with its conduct of a trade or business in the United States (and, if required by an applicable income tax treaty, is attributable to a permanent establishment or fixed base that such holder maintains in the United States).

Dividends (including constructive dividends) and gains that are effectively connected with the Non-U.S. Holder's conduct of a trade or business in the United States (and, if required by an applicable income tax treaty, are attributable to a permanent establishment or fixed base in the United States) generally will be subject to U.S. federal income tax at the same regular U.S. federal income tax rates applicable to a comparable U.S. Holder and, in the case of a Non-U.S. Holder that is a corporation for U.S. federal income tax purposes, also may be subject to an additional branch profits tax at a 30% rate or a lower applicable tax treaty rate.

*Information Reporting and Backup Withholding*

Dividend payments with respect to our Class A ordinary shares and proceeds from the sale, exchange or redemption of our Class A ordinary shares may be subject to information reporting to the IRS and possible United States backup withholding. Backup withholding will not apply, however, to a U.S. Holder who furnishes a correct taxpayer identification number and makes other required certifications, or who is otherwise exempt from backup withholding and establishes such exempt status. A Non-U.S. Holder generally will eliminate the requirement for information reporting and backup withholding by providing certification of its foreign status, under penalties of perjury, on a duly executed applicable IRS Form W-8 or by otherwise establishing an exemption.

Backup withholding is not an additional tax. Amounts withheld as backup withholding may be credited against a holder's U.S. federal income tax liability, and a holder generally may obtain a refund of any excess amounts withheld under the backup withholding rules by timely filing the appropriate claim for refund with the IRS and furnishing any required information.

**The U.S. federal income tax discussion set forth above is included for general information only and may not be applicable depending upon a holder's particular situation. Holders are urged to consult their tax advisors with respect to the tax consequences to them of the acquisition, ownership and disposition of our ordinary shares and rights, including the tax consequences under U.S. federal, state and local, estate, non-U.S. and other tax laws and tax treaties and the possible effects of changes in U.S. or other tax laws.**

**UNDERWRITING**

We are offering the units described in this prospectus through the underwriter named below. A.G.P. is the sole book-running manager of this offering. We have entered into an underwriting agreement with A.G.P. Subject to the terms and conditions of the underwriting agreement, the underwriter has agreed to purchase, and we have agreed to sell to the underwriter, the number of units listed next to its name in the following table.

---

| | |
|:---|:---|
| **Underwriter** | **Number of Units** |
| A.G.P. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | 6000000 |

---

The underwriting agreement provides that the underwriter must buy all of the units if they buy any of them. However, the underwriter is not required to purchase the units covered by the underwriter's option to purchase additional units as described below.

Our units are offered subject to a number of conditions, including:

● receipt and acceptance of our units by the underwriter; and

● the underwriter's right to reject orders in whole or in part.

We have been advised by the underwriter that it does not intend to make a market in our units but that it is not obligated to do so and may discontinue making a market at any time without notice.

**Option to Purchase Additional Units**

We have granted the underwriter an option to buy up to an aggregate of 900,000 additional units. The underwriter has 45 days from the date of this prospectus to exercise this option. If the underwriter exercises this option, it will purchase additional units approximately in proportion to the amounts specified in the table above.

**Underwriting Discount**

Units sold by the underwriter to the public will initially be offered at the initial offering price set forth on the cover of this prospectus. Any units sold by the underwriter to securities dealers may be sold at a discount of $0.15 per unit from the initial public offering price, to be paid at the closing of the offering in cash. Sales of units made outside of the United States may be made by affiliates of the underwriter. If all the units are not sold at the initial public offering price, the representatives may change the offering price and the other selling terms. Upon execution of the underwriting agreement, the underwriter will be obligated to purchase the units at the prices and upon the terms stated therein.

The following table shows the per unit and total underwriting discount we will pay to the underwriter assuming both no exercise and full exercise of the underwriter's option to purchase up to 900,000 additional units.

---

| | | | |
|:---|:---|:---|:---|
|  | **Per Unit** | **Without**<br> **Over-allotment** | **With**<br> **Over-allotment** |
| Public offering price | $10.00 | $60000000 | $69000000 |
| Discount<sup>(1)</sup> | $0.15 | $900000 | $1035000 |
| Proceeds before expenses<sup>(2)</sup> | $9.85 | $59100000 | $67965000 |

---

(1) $0.15
 per unit sold in the base offering, or $900,000 (or up to $1,035,000 if the overallotment option is exercised in full) in the aggregate,
 is payable upon the closing of this offering. In addition to the cash compensation set forth herein, we have also agreed to issue
 to the underwriter and/or its designee (i) the Representative Shares as part of representative compensation, which will be
 issued upon the closing of the offering and (ii) the A.G.P. Shares, which will be issued upon the closing of the offering.

(2) The
 table does not include certain fees and expenses payable to the underwriter in connection with this offering.

We estimate that the total expenses of the offering payable by us, not including the underwriting discount, will be approximately $680,000. We have agreed to pay for the FINRA-related fees. We have also agreed to reimburse the representative accountable expenses, including fees of the representative's legal counsel, not to exceed $100,000 and non-accountable expenses not to exceed $20,000.

**Representative's Class A Ordinary Shares**

We have agreed to issue to A.G.P. and/or its designees the Representative Shares, which will be issued upon the closing of this offering. The Representative Shares will have the same terms as any founder shares issued as part of this offering. The Representative Shares will provide for customary anti-dilution provisions (for stock dividends and splits and recapitalizations) consistent with FINRA Rule 5110, and further, the number of shares underlying the Representative Shares shall be reduced, if necessary, to comply with FINRA rules or regulations. In addition, we have agreed to issue the A.G.P. Shares to A.G.P. and/or its designees, , upon the closing of the offering. The Representative Shares and the A.G.P. Shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date of the effectiveness of the registration statement of which this prospectus forms a part pursuant to Rule 5110(e)(1) of the FINRA Manual. Pursuant to FINRA Rule 5110(e)(1), these securities will not be sold during the offering, or sold, transferred, assigned, pledged, or hypothecated, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days immediately following the commencement of sales of this offering, subject to exceptions pursuant to Rule 5110(e)(2). In addition, the A.G.P. Shares shall also be subject to an additional lock-up for a period of 180 days from the consummation of the initial business combination.

**Transfer restrictions on founder shares and Class A ordinary shares**

Our initial shareholder has agreed not to transfer, assign or sell any of their founder shares and any Class A ordinary shares issuable upon conversion thereof (except to certain permitted transferees) until the earlier to occur of: (i) 180 days after the completion of our initial business combination; and (ii) subsequent to our initial business combination, the date on which we complete a liquidation, merger, share exchange, or other similar transaction that results in all of our shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property.

Notwithstanding the foregoing, the founder shares will be released from the lock-up if (1) the last reported sale price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and other similar transactions) for any 20 trading days within any 30-trading day period commencing at least 90 days after our initial business combination or (2) if we complete a transaction after our initial business combination which results in all of our shareholders having the right to exchange their shares for cash, securities or other property.

**Indemnification**

We have agreed to indemnify the underwriter against certain liabilities, including certain liabilities under the Securities Act. If we are unable to provide this indemnification, we have agreed to contribute to payments the underwriter may be required to make in respect of those liabilities.

**Nasdaq Listing**

We have applied for listing of our units on Nasdaq under the symbol "ALOGU" and, once the Class A ordinary shares and rights begin separate trading, we expect our Class A ordinary shares and rights will be listed on Nasdaq under the symbols "ALOG" and "ALOGR," respectively.

**Price Stabilization, Short Positions**

In connection with this offering, the underwriter may engage in activities that stabilize, maintain or otherwise affect the price of units during and after this offering, including:

● stabilizing transactions;

● short sales;

● syndicate covering transactions.

The underwriter may close out any covered short position by either exercising their option, in whole or in part, or by purchasing units in the open market. In making this determination, the underwriter will consider, among other things, the price of units available for purchase in the open market as compared to the price at which they may purchase units through the over-allotment option.

Naked short sales are short sales made in excess of the over-allotment option. The underwriter must close out any naked short position by purchasing units in the open market. A naked short position is more likely to be created if the underwriter is concerned that there may be downward pressure on the price of the units in the open market that could adversely affect investors who purchased in this offering.

**Affiliations**

The underwriter and its affiliates are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging, financing and brokerage activities. The underwriter and its affiliates may from time to time in the future engage with us and perform services for us or in the ordinary course of their business for which they will receive customary fees and expenses. In the ordinary course of their various business activities, the underwriter and its affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers, and such investment and securities activities may involve securities and/or instruments of us. The underwriter and its affiliates may also make investment recommendations and/or publish or express independent research views in respect of these securities or instruments and may at any time hold, or recommend to clients that they acquire, long and/or short positions in these securities and instruments.

Except as described above, we are not under any contractual obligation to engage the underwriter to provide any services for us after this offering, and have no present intent to do so. However, the underwriter may introduce us to potential target businesses or assist us in raising additional capital in the future. If the underwriter provides services to us after this offering, we may pay the underwriter fair and reasonable fees that would be determined at that time in an arm's length negotiation; provided that no agreement will be entered into with the underwriter and no fees for such services will be paid to the underwriter prior to the date that is 90 days from the date of this prospectus, unless FINRA determines that such payment would not be deemed underwriter's compensation in connection with this offering and we may pay the underwriter of this offering or any entity with which they are affiliated a finder's fee or other compensation for services rendered to us in connection with the completion of a business combination.

**Electronic Distribution**

A prospectus in electronic format may be made available on the Internet sites or through other online services maintained by the underwriter participating in this offering, or by its affiliates. In those cases, prospective investors may view offering terms online and prospective investors may be allowed to place orders online. The underwriter may agree with us to allocate a specific number of units for sale to online brokerage account holders. Any such allocation for online distributions will be made by the underwriter on the same basis as other allocations. Other than the prospectus in electronic format, the information on any underwriter's website and any information contained in any other website maintained by the underwriter is not part of the prospectus or the registration statement of which this prospectus forms a part, has not been approved and/or endorsed by us or the underwriter in its capacity as underwriter and should not be relied upon by investors.

**Notice to Residents of Canada**

The units may be sold only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the units must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.

Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province or territory for particulars of these rights or consult with a legal advisor.

Pursuant to section 3A.3 of National Instrument 33-105 Underwriting Conflicts (NI 33-105), the underwriter is not required to comply with the disclosure requirements of NI 33-105 regarding underwriter conflicts of interest in connection with this offering.

**Notice to Prospective Investors in Australia**

No placement document, prospectus, product disclosure statement or other disclosure document has been lodged with the Australian Securities and Investments Commission ("ASIC"), in relation to the offering. This prospectus does not constitute a prospectus, product disclosure statement or other disclosure document under the Corporations Act 2001 (the "Corporations Act"), and does not purport to include the information required for a prospectus, product disclosure statement or other disclosure document under the Corporations Act.

Any offer in Australia of the shares may only be made to persons (the "Exempt Investors") who are "sophisticated investors" (within the meaning of section 708(8) of the Corporations Act), "professional investors" (within the meaning of section 708(11) of the Corporations Act) or otherwise pursuant to one or more exemptions contained in section 708 of the Corporations Act so that it is lawful to offer the shares without disclosure to investors under Chapter 6D of the Corporations Act.

The shares applied for by Exempt Investors in Australia must not be offered for sale in Australia in the period of 12 months after the date of allotment under the offering, except in circumstances where disclosure to investors under Chapter 6D of the Corporations Act would not be required pursuant to an exemption under section 708 of the Corporations Act or otherwise or where the offer is pursuant to a disclosure document which complies with Chapter 6D of the Corporations Act. Any person acquiring shares must observe such Australian on-sale restrictions.

This prospectus contains general information only and does not take account of the investment objectives, financial situation or particular needs of any particular person. It does not contain any securities recommendations or financial product advice. Before making an investment decision, investors need to consider whether the information in this prospectus is appropriate to their needs, objectives and circumstances, and, if necessary, seek expert advice on those matters.

**Notice to Prospective Investors in the Dubai International Financial Centre**

This prospectus relates to an Exempt Offer in accordance with the Offered Securities Rules of the Dubai Financial Services Authority ("DFSA"). This prospectus is intended for distribution only to persons of a type specified in the Offered Securities Rules of the DFSA. It must not be delivered to, or relied on by, any other person. The DFSA has no responsibility for reviewing or verifying any documents in connection with Exempt Offers. The DFSA has not approved this prospectus nor taken steps to verify the information set forth herein and has no responsibility for the prospectus. The shares to which this prospectus relates may be illiquid and/or subject to restrictions on their resale. Prospective purchasers of the shares offered should conduct their own due diligence on the shares. If you do not understand the contents of this prospectus you should consult an authorized financial advisor.

**Notice to Prospective Investors in the European Economic Area**

In relation to each member state of the European Economic Area that has implemented the Prospectus Regulation (each, a "relevant member state"), with effect from and including the date on which the Prospectus Regulation is implemented in that relevant member state (the "relevant implementation date"), an offer of units described in this prospectus may not be made to the public in that relevant member state prior to the publication of a prospectus in relation to the units that has been approved by the competent authority in that relevant member state or, where appropriate, approved in another relevant member state and notified to the competent authority in that relevant member state, all in accordance with the Prospectus Regulation, except that, with effect from and including the relevant implementation date, an offer of our units may be made to the public in that relevant member state at any time:

● to any legal entity which is a qualified investor as defined in the Prospectus Regulation;

● to fewer than 100, or, if the relevant member state has implemented the relevant provisions of the 2010 PD Amending Directive, 150, natural or legal persons (other than qualified investors as defined in the Prospectus Regulation), as permitted under the Prospectus Regulation, subject to obtaining the prior consent of the relevant Dealer or Dealers nominated by the issuer for any such offer; or natural or legal persons (other than qualified investors as defined below) subject to obtaining the prior consent of the underwriter for any such offer; or

● in any other circumstances that do not require the publication by us of a prospectus pursuant to Article 3 of the Prospectus Regulation.

Each purchaser of units described in this prospectus located within a relevant member state will be deemed to have represented, acknowledged and agreed that it is a "qualified investor" within the meaning of Article 2(1)(e) of the Prospectus Regulation.

For the purpose of this provision, the expression an "offer to the public" in any relevant member state means the communication in any form and by any means of sufficient information on the terms of the offer and the units to be offered so as to enable an investor to decide to purchase or subscribe for the units, as the expression may be varied in that member state by any measure implementing the Prospectus Regulation in that member state, and the expression "Prospectus Regulation" means Directive 2003/71/EC (and amendments thereto, including the PD 2010 Amending Directive to the extent implemented by the relevant member state) and includes any relevant implementing measure in each relevant member state, and the expression 2010 PD Amending Directive means Directive 2010/73/EU.

We have not authorized and do not authorize the making of any offer of securities through any financial intermediary on their behalf, other than offers made by the underwriter with a view to the final placement of the units as contemplated in this prospectus. Accordingly, no purchaser of the units, other than the underwriter, is authorized to make any further offer of the units on behalf of us or the underwriter.

**Notice to Prospective Investors in Switzerland**

The shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange ("SIX") or on any other stock exchange or regulated trading facility in Switzerland. This document has been prepared without regard to the disclosure standards for issuance prospectuses under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards for listing prospectuses under art. 27 ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated trading facility in Switzerland. Neither this document nor any other offering or marketing material relating to the shares or the offering may be publicly distributed or otherwise made publicly available in Switzerland.

Neither this document nor any other offering or marketing material relating to the offering, the Company, the shares have been or will be filed with or approved by any Swiss regulatory authority. In particular, this document will not be filed with, and the offer of shares will not be supervised by, the Swiss Financial Market Supervisory Authority FINMA (FINMA), and the offer of shares has not been and will not be authorized under the Swiss Federal Act on Collective Investment Schemes ("CISA"). The investor protection afforded to acquirers of interests in collective investment schemes under the CISA does not extend to acquirers of shares.

**Notice to Prospective Investors in the United Kingdom**

This prospectus is only being distributed to, and is only directed at, persons in the United Kingdom that are qualified investors within the meaning of Article 2(1)(e) of the Prospectus Directive that are also (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as a "relevant person"). The units are only available to, and any invitation, offer or agreement to purchase or otherwise acquire such units will be engaged in only with, relevant persons. This prospectus and its contents are confidential and should not be distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other persons in the United Kingdom. Any person in the United Kingdom that is not a relevant person should not act or rely on this document or any of its contents.

**Notice to Prospective Investors in France**

Neither this prospectus nor any other offering material relating to the units described in this prospectus has been submitted to the clearance procedures of the Autorité des Marchés Financiers or by the competent authority of another member state of the European Economic Area and notified to the Autorité des Marchés Financiers. The units have not been offered or sold and will not be offered or sold, directly or indirectly, to the public in France. Neither this prospectus nor any other offering material relating to the units has been or will be:

● released, issued, distributed or caused to be released, issued or distributed to the public in France; or

● used in connection with any offer for subscription or sale of the units to the public in France.

Such offers, sales and distributions will be made in France only:

● to qualified investors (investisseurs qualifiés) and/or to a restricted circle of investors (cercle restreint d'investisseurs), in each case investing for their own account, all as defined in, and in accordance with, Article L.411-2, D.411-1, D.411-2, D.734-1, D.744-1, D.754-1 and D.764-1 of the French Code monétaire et financier;

● to investment services providers authorized to engage in portfolio management on behalf of third parties; or

● in a transaction that, in accordance with article L.411-2-II-1\|Mbb[-or-2\|Mbb[-or 3\|Mbb[ of the French Code monétaire et financier and article 211-2 of the General Regulations (Règlement Général) of the Autorité des Marchés Financiers, does not constitute a public offer (appel public à l'épargne).

The units may be resold directly or indirectly, only in compliance with Articles L.411-1, L.411-2, L.412-1 and L.621-8 through L.621-8-3 of the French Code monétaire et financier.

**Notice to Prospective Investors in Hong Kong**

The units may not be offered or sold in Hong Kong by means of any document other than (i) in circumstances which do not constitute an offer to the public within the meaning of the Companies Ordinance (Cap. 32, Laws of Hong Kong), or (ii) to "professional investors" within the meaning of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and any rules made thereunder, or (iii) in other circumstances which do not result in the document being a "prospectus" within the meaning of the Companies Ordinance (Cap. 32, Laws of Hong Kong) and no advertisement, invitation or document relating to the units may be issued or may be in the possession of any person for the purpose of issue (in each case whether in Hong Kong or elsewhere), which is directed at, or the contents of which are likely to be accessed or read by, the public in Hong Kong (except if permitted to do so under the laws of Hong Kong) other than with respect to units which are or are intended to be disposed of only to persons outside Hong Kong or only to "professional investors" within the meaning of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and any rules made thereunder.

**Notice to Prospective Investors in Japan**

The units have not been and will not be registered under the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948, as amended) and, accordingly, will not be offered or sold, directly or indirectly, in Japan, or for the benefit of any Japanese Person or to others for re-offering or resale, directly or indirectly, in Japan or to any Japanese Person, except in compliance with all applicable laws, regulations and ministerial guidelines promulgated by relevant Japanese governmental or regulatory authorities in effect at the relevant time. For the purposes of this paragraph, "Japanese Person" shall mean any person resident in Japan, including any corporation or other entity organized under the laws of Japan.

**Notice to Prospective Investors in Singapore**

This prospectus has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this prospectus and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the units may not be circulated or distributed, nor may the units be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 274 of the Securities and Futures Act, Chapter 289 of Singapore (the "SFA"), (ii) to a relevant person pursuant to Section 275(1), or any person pursuant to Section 275(1A), and in accordance with the conditions specified in Section 275 of the SFA or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA, in each case subject to compliance with conditions set forth in the SFA.

Where the units are subscribed or purchased under Section 275 of the SFA by a relevant person which is:

● shares, debentures and units of shares and debentures of that corporation or the beneficiaries' rights and interest (howsoever described) in that trust shall not be transferred within six months after that corporation or that trust has acquired the shares pursuant to an offer made under Section 275 of the SFA except:

○ to an institutional investor (for corporations, under Section 274 of the SFA) or to a relevant person defined in Section 275(2) of the SFA, or to any person pursuant to an offer that is made on terms that such shares, debentures and units of shares and debentures of that corporation or such rights and interest in that trust are acquired at a consideration of not less than S$200,000 (or its equivalent in a foreign currency) for each transaction, whether such amount is to be paid for in cash or by exchange of securities or other assets, and further for corporations, in accordance with the conditions specified in Section 275 of the SFA; or

○ where no consideration is or will be given for the transfer.

**LEGAL MATTERS**

We are being represented by DLA Piper UK LLP with respect to certain legal matters as to United States federal securities law. The underwriter is represented by K&L Gates LLP with respect to certain legal matters as to United States federal securities Law. The validity of the Class A ordinary shares and certain legal matters relating to the offering as to Cayman Islands law will be passed upon for us by Appleby. DLA Piper UK LLP may rely upon Appleby with respect to matters governed by Cayman Islands law.

**EXPERTS**

The financial statements of Albert Origin Acquisition Corporation for the period from June 25, 2025 (inception) through July 31, 2025 included in this prospectus have been audited by Adeptus Partners LLC, an independent registered public accounting firm, as set forth in their report thereon, which includes an explanatory paragraph as to Albert Origin Acquisition Corporation's ability to continue as a going concern, appearing elsewhere herein, and are included in reliance upon such report given on the authority of said firm as experts in auditing and accounting.

**WHERE YOU CAN FIND ADDITIONAL INFORMATION**

We have filed with the SEC a registration statement on Form S-1 under the Securities Act with respect to the securities we are offering by this prospectus. This prospectus does not contain all of the information included in the registration statement. For further information about us and our securities, you should refer to the registration statement and the exhibits and schedules filed with the registration statement. Whenever we make reference in this prospectus to any of our contracts, agreements or other documents, the references are materially complete but may not include a description of all aspects of such contracts, agreements or other documents, and you should refer to the exhibits attached to the registration statement for copies of the actual contract, agreement or other document.

Upon the completion of this offering, we will be subject to the information requirements of the Exchange Act and will file annual, quarterly and current event reports, proxy statements and other information with the SEC. You can read our SEC filings, including the registration statement, over the Internet at the SEC's website at www.sec.gov.

**ALBERT ORIGIN ACQUISITION CORPORATION**

**INDEX TO FINANCIAL STATEMENTS**

---

| | |
|:---|:---|
|  | **Page** |
| [Report of Independent Registered Public Accounting Firm](#fin_01) (PCAOB ID: 3686) | F-2 |
| Financial Statements: |  |
| [Balance Sheet as of July 31, 2025](#fin_02) | F-3 |
| [Statement of Operations for the Period from June 25, 2025 (Inception) through July 31, 2025](#fin_03) | F-4 |
| [Statement of Changes in Shareholder's Equity for the Period from June 25, 2025 (Inception) through July 31, 2025](#fin_04) | F-5 |
| [Statement of Cash Flows for the Period from June 25, 2025 (Inception) through July 31, 2025](#fin_05) | F-6 |
| [Notes to Financial Statements](#fin_06) | F-7 |

---

**Report of Independent Registered Public Accounting Firm**

To the Management and Shareholder of

Albert Origin Acquisition Corporation

**Opinion on the Financial Statements**

We have audited the accompanying balance sheet of Albert Origin Acquisition Corporation (the Company) as of July 31, 2025, and the related statements of operations, changes in shareholder's equity, and cash flows for the period June 25, 2025 (inception) through July 31, 2025, and the related notes to the financial statements (collectively referred to as the financial statements).

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of July 31, 2025, and the results of its operations and its cash flows for the period June 25, 2025 (inception) through July 31, 2025 in accordance with accounting principles generally accepted in the United States of America.

**Substantial Doubt about the Company's Ability to Continue as a Going Concern**

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has no cash, a working capital deficit of $94,231, and will continue to incur significant costs in pursuing an acquisition, that raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a Public Accounting Firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

We have served as the Company's auditor since 2025.

**/s/ Adeptus Partners, LLC**

Ocean, New Jersey

August 26, 2025 except for Notes 6 and 9, dated September 30, 2025

**ALBERT ORIGIN ACQUISITION CORPORATION**

**BALANCE SHEET**

**JULY 31, 2025**

---

| | |
|:---|:---|
| **ASSETS** |  |
| **Current Assets** |  |
| Prepaid expenses | $15000 |
| **Total Current Assets** | **15000** |
| Deferred offering costs | 100000 |
| **Total Assets** | $**115000** |
| **LIABILITIES AND SHAREHOLDER'S EQUITY** |  |
| **Current liabilities** |  |
| Promissory note - related party | $109231 |
| **Total Current Liabilities** | **109231** |
| **Commitments and Contingencies (Note 6)** |  |
| **Shareholder's Equity** |  |
| &nbsp;&nbsp;&nbsp;Ordinary shares, $0.0001 par value; 500,000,000 ordinary shares authorized; 1 ordinary<br> share issued and outstanding |  |
| &nbsp;&nbsp;&nbsp;Class A ordinary shares, $0.0001 par value; 60,000,000 shares authorized; none issued and outstanding <sup>(1)</sup> |  |
| &nbsp;&nbsp;&nbsp;Class B ordinary shares, $0.0001 par value; 6,000,000 shares authorized; 2,957,143 shares issued and outstanding<sup>(1)(2)</sup> | 296 |
| Additional paid-in capital | 24704 |
| Accumulated deficit | (19231) |
| **Total Shareholder's Equity** | 5769 |
| **Total Liabilities and Shareholder's Equity** | $**115000** |

---

(1) Share numbers
 have been retroactively restated to reflect the issuance of Class A and Class B ordinary shares following the capital re-designation
 on August 8, 2025 (see Note 7).

(2) Includes an aggregate
 of up to 385,714 Class B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by
 the underwriter (see Note 5).

The accompanying notes are an integral part of these financial statements.

**ALBERT ORIGIN ACQUISITION CORPORATION**

**STATEMENT OF OPERATIONS**

 **FOR THE PERIOD FROM JUNE 25, 2025 (INCEPTION) THROUGH JULY 31, 2025**

---

| | |
|:---|:---|
| Formation and operating costs | $19231 |
| **Net loss** | $(19231) |
| Basic and diluted weighted average shares outstanding<sup>(1)</sup> | 214286 |
| Basic and diluted net loss per ordinary shares | $(0.09) |

---

(1) Share numbers have been
 retroactively restated to reflect the issuance of Class A and Class B ordinary shares following the capital re-designation on August
 8, 2025 (see Note 7). Excludes an aggregate of up to 385,714 Class B ordinary shares subject to forfeiture if the over-allotment
 option is not exercised in full or in part by the underwriter (see Note 5).

The accompanying notes are an integral part of these financial statements.

**ALBERT ORIGIN ACQUISITION CORPORATION**

**STATEMENT OF CHANGES IN SHAREHOLDER'S EQUITY**

**FOR THE PERIOD FROM JUNE 25, 2025 (INCEPTION) THROUGH JULY 31, 2025**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Ordinary Shares** | **Ordinary Shares** | | | |
|  | **Shares** | **Amount** | **Additional**<br>**Paid-in**<br>**Capital** |<br>**Accumulated**<br>**Deficit** | **Total**<br>**Shareholder's**<br>**Equity** |
| **Balance–June 25, 2025 (Inception)** | **-** | $**-** | $**-** | $**-** | $**-** |
| Class B ordinary shares issued to the Sponsor<sup>(1)</sup> | 2957143 | 296 | 24704 |  | 25000 |
| Net loss | - | **-** | - | (19231) | (19231) |
| **Balance–July 31, 2025** | **2957143** | $**296** | $**24704** | $**(19231)** | $**5769** |

---

(1) Share numbers have been
 retroactively restated to reflect the issuance of Class B ordinary shares following the capital re-designation on August 8, 2025
 (see Note 7). Includes an aggregate of up to 385,714 class B ordinary shares subject to forfeiture if the over-allotment
 option is not exercised in full or in part by the underwriter (see Note 5).

The accompanying notes are an integral part of these financial statements.

**ALBERT ORIGIN ACQUISITION CORPORATION**

**STATEMENT OF CASH FLOWS**

**FOR THE PERIOD FROM JUNE 25, 2025 (INCEPTION) THROUGH JULY 31, 2025**

---

| | |
|:---|:---|
| **Cash Flows from Operating Activities:** |  |
| Net loss | $(19231) |
| **Net cash used in operating activities** | (19231) |
| **Cash Flows from Financing Activities:** |  |
| Payment of operating expenses via promissory note – related party | 19231 |
| **Net cash provided by financing activities** | 19231 |
| **Net Change in Cash** | **-** |
| Cash – beginning of the period | - |
| Cash – end of the period | $**-** |
| **Supplemental disclosure of non-cash information:** |  |
| Deferred offering costs paid by Sponsor in exchange for issuance of ordinary shares | $**25000** |
| Prepaid expenses paid by Sponsor under promissory note - related party | $**15000** |
| Deferred offering costs paid by Sponsor under promissory note-related party | $**75000** |

---

The accompanying notes are an integral part of these financial statements.

**ALBERT ORIGIN ACQUISITION CORPORATION**

**NOTES TO FINANCIAL STATEMENTS**

**Note 1 — Description of Organization and Business Operations**

Albert Origin Acquisition Corporation (the "Company") is a blank check company incorporated as a Cayman Islands exempted company on June 25, 2025. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities ("Business Combination"). The Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination will not be limited to a particular industry, although it intends to focus on identifying a prospective target business in North America, Europe, Asia or Oceania. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

As of July 31, 2025, the Company had not commenced any operations. All activities from June 25, 2025 (inception) through July 31, 2025, are related to the Company's formation and the proposed initial public offering ("Proposed Public Offering"), which are described below. The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Proposed Public Offering. The Company has selected July 31 as its fiscal year end.

The Company's sponsor is Issacyan Co., Ltd. (the "Sponsor"), a BVI business company with limited liability. The Company's ability to commence operations is contingent upon obtaining adequate financial resources through a proposed initial public offering ("Proposed Public Offering") of 6,000,000 units (the "Units" and, with respect to the shares of Class A ordinary shares included in the Units being offered, the "Public Shares") at $10.00 per Unit (or 6,900,000 Units if the underwriter's over-allotment option is exercised in full), which is discussed in Note 3, and the sale of 221,100 units (or 234,600 units if the underwriter's over-allotment option is exercised in full) (the "Private Units") at a price of $10.00 per Private Unit in a private placement to the Sponsor that will close simultaneously with the Proposed Public Offering (see Note 4).

The Company's management has broad discretion with respect to the specific application of the net proceeds of the Proposed Public Offering and the sale of the Private Units, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company must complete a Business Combination having an aggregate fair market value of at least 80% of the assets held in the Trust Account (as defined below) (excluding taxes payable on interest earned on the Trust Account) at the time of the agreement to enter into an initial Business Combination. The Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the "Investment Company Act"). There is no assurance that the Company will be able to complete a Business Combination successfully.

Upon the closing of the Proposed Public Offering, management has agreed that at least $10.00 per Unit (as defined in Note 3) sold in the Proposed Public Offering will be held into a U.S.-based trust account ("Trust Account"). The funds held in the trust account will be invested only in U.S. government treasury bills with a maturity of 185 days or less, or in money market funds meeting the applicable conditions of Rule 2a-7 promulgated under the Investment Company Act which invest solely in direct U.S. government treasury. Except with respect to dividend and/or interest earned on the funds held in the Trust Account that may be released to the Company to pay the Company's tax obligation, if any, the proceeds from the Proposed Public Offering and the sale of the private placement units that are deposited and held in the Trust Account will not be released from the Trust Account until the earliest to occur of (i) the completion of the Company's initial Business Combination, (ii) the redemption of any public shares properly tendered in connection with a shareholder vote to amend the Company's amended and restated memorandum and articles of association to (A) modify the substance or timing of obligation to redeem 100% of the public shares if the Company does not complete the Company's initial Business Combination within 15 months from the effective date of this registration statement (the "Completion Window", subject to shareholder approval, there are no limitations as to the duration of an extension or the number of times the Completion Window may be extended by shareholders via an amendment to the Company's amended and restated memorandum and articles of association), or (B) with respect to any other provision relating to shareholders' rights or pre-business combination activity, and (iii) the redemption of all of our public shares if the company are unable to complete their initial business combination within 15 months from the effective date of this registration statement (unless such Completion Window is extended by shareholders via an amendment to the Company's amended and restated memorandum and articles of association), subject to applicable law. In no other circumstances will a public shareholder have any right or interest of any kind to or in the Trust Account.

**ALBERT ORIGIN ACQUISITION CORPORATION** 

**NOTES TO FINANCIAL STATEMENTS**

**Note 1 — Description of Organization and Business Operations** (cont.)

The Company will provide its shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of the Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. If the Company seeks shareholder approval, a majority of the shares voted are voted in favor of the Business Combination. If a shareholder vote is not required by law and the Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant to its amended and restated memorandum and articles of association, conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission ("SEC") and file tender offer documents with the SEC prior to completing a Business Combination. If, however, shareholder approval of the transaction is required by law, or the Company decides to obtain shareholder approval for business or legal reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. Additionally, each public shareholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction. If the Company seeks shareholder approval in connection with a Business Combination, the Company's Sponsor and any of the Company's officers or directors that may hold Founder Shares (as defined in Note 5) (the "Initial Shareholders") and the underwriter has agreed (a) to vote its Founder Shares, Private Shares (as defined in Note 4), shares issued as underwriting commissions (see Note 6) and any Public Shares purchased during or after the Proposed Public Offering in favor of approving a Business Combination and (b) not to convert any shares (including the Founder Shares) in connection with a shareholder vote to approve, or sell the shares to the Company in any tender offer in connection with, a proposed Business Combination.

Notwithstanding the foregoing, if the Company seeks shareholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the amended and restated memorandum and articles of association provides that a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a "group" (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the "Exchange Act")), will be restricted from redeeming its shares with respect to more than an aggregate of 15% or more of the Public Shares, without the prior consent of the Company.

The Company has determined not to consummate any Business Combination unless the Company has net tangible assets of at least $5,000,001 upon such consummation in order to avoid being subject to Rule 419 promulgated under the Securities Act. However, if the Company seeks to consummate an initial Business Combination with a target business that imposes any type of working capital closing condition or requires us to have a minimum amount of funds available from the Trust Account upon consummation of such initial Business Combination, its net tangible asset threshold may limit the Company's ability to consummate such initial Business Combination (as the Company may be required to have a lesser number of shares redeemed) and may force the Company to seek third party financing which may not be available on terms acceptable to the Company or at all. As a result, the Company may not be able to consummate such initial Business Combination and the Company may not be able to locate another suitable target within the applicable time period, if at all.

The Company will have 15 months from the effective date of its registration statement to complete its initial Business Combination. If the Company is unable to complete its initial Business Combination within such period, unless the Company extends such period pursuant to its amended and restated memorandum and articles of association (subject to shareholder approval, there are no limitations as to the duration of an extension or the number of times the Completion Window may be extended by shareholders via an amendment to our amended and restated memorandum and articles of association), the Company will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay taxes, if any (net of taxes payable and less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of its remaining shareholders and its board of directors, liquidate and dissolve, subject in each case to its obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.

The Sponsor, officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to (i) waive their redemption rights with respect to their founder shares in connection with the completion of initial business combination, (ii) waive their redemption rights with respect to their founder shares and public shares in connection with a shareholder vote to approve an amendment to our post-offering memorandum and articles of association (A) that would modify the substance or timing of the obligation to provide holders of the Class A ordinary shares the right to have their shares redeemed in connection with initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within the Completion Window, or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares and (iii) waive their rights to liquidating distributions from the Trust Account with respect to any founder shares they hold if the Company fail to consummate an initial business combination within the Completion Window (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if the Company fail to complete its initial business combination within the prescribed time frame). If the Company seek shareholders' approval, we will complete its initial business combination only if the Company obtain the approval of an ordinary resolution under Cayman Islands law and the Company's post-offering memorandum and articles of association. In such case, the initial shareholder has agreed to vote its founder shares and public shares in favor of initial business combination.

**ALBERT ORIGIN ACQUISITION CORPORATION** 

**NOTES TO FINANCIAL STATEMENTS**

**Note 1 — Description of Organization and Business Operations** (cont.)

In order to protect the amounts held in the Trust Account, The Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or Business Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per public share and (ii) the actual amount per public share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company's indemnity of the underwriter of the Proposed Public Offering against certain liabilities, including liabilities under the Securities Act. However, the Company has not asked the Sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and the Company believes that the Sponsor's only assets are securities of the Company. Therefore, the Company cannot assure the Sponsor will be able to satisfy those obligations.

**Going Concern Consideration**

As of July 31, 2025, the Company had no cash and a working capital deficit of $94,231. The Sponsor has agreed to loan the Company up to $500,000 to be used for a portion of the expenses of the Proposed Public Offering. The loan is non-interest bearing, unsecured and is payable on the earlier of: (i) the date on which the Company consummates an initial public offering of its securities, or (ii) December 31, 2026. As of July 31, 2025, the Company borrowed $109,231 under the promissory note as discussed in Note 5.

The Company has incurred and expects to continue to incur significant costs in pursuit of its financing and acquisition plans. These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are issued. Management plans to address this uncertainty through a Proposed Public Offering as discussed in Note 3. There is no assurance that the Company's plans to raise capital or to consummate a Business Combination will be successful within the 15 months Completion Window. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**Note 2 — Summary of Significant Accounting Policies**

**Basis of Presentation**

The accompanying financial statements are presented on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") and pursuant to the rules and regulations of the SEC.

**Emerging Growth Company**

The Company is an "emerging growth company," as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company's financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

**Use of Estimates**

In preparing these financial statements in conformity with U.S. GAAP, the Company's management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported expenses during the reporting period.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

**ALBERT ORIGIN ACQUISITION CORPORATION** 

**NOTES TO FINANCIAL STATEMENTS**

**Note 2 — Summary of Significant Accounting Policies** (cont.)

**Cash and Cash Equivalents**

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash or cash equivalents as of July 31, 2025.

**Deferred Offering Costs**

Deferred offering costs consist of legal and other professional expenses incurred through the balance sheet date that are directly related to the Proposed Public Offering. The Company complies with the requirements of ASC 340-10-S99-1, SEC Staff Accounting bulletin Topic 5A — "Expenses of Offering", and SEC Staff Accounting bulletin Topic 5T — "Accounting for Expenses or Liabilities Paid by Principal Stockholder(s)". Offering costs directly attributable to the issuance of an equity contract to be classified in equity will be recorded as a reduction of equity. Offering costs for equity contracts that are classified as assets and liabilities will be expensed immediately. Should the Proposed Public Offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to operations. As of July 31, 2025, the Company had deferred offering costs of $100,000.

**Net Loss Per Ordinary Share**

Net loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period, excluding ordinary shares subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 385,714 ordinary shares that are subject to forfeiture if the over-allotment option is not exercised in full by the underwriter (see Note 5). As of July 31, 2025, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted loss per ordinary share is the same as basic loss per ordinary share for the period presented.

**Concentration of Credit Risk**

Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such an account.

**Income Taxes**

The Company follows the asset and liability method of accounting for income taxes under ASC 740, "Income Taxes." Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of July 31, 2025. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company's management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.

The Company is a Cayman Islands exempted company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company's tax provision was zero for the period presented.

**ALBERT ORIGIN ACQUISITION CORPORATION** 

**NOTES TO FINANCIAL STATEMENTS**

**Note 2 — Summary of Significant Accounting Policies** (cont.)

**Fair Value of Financial Instruments**

The fair value of the Company's assets and liabilities, which qualify as financial instruments under ASC 825, "Financial Instruments," approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

**Derivative Financial Instruments**

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, "Derivatives and Hedging." For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statement of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. The underwriter's over-allotment option is deemed to be a freestanding financial instrument indexed on the contingently redeemable shares and will be accounted for as a liability pursuant to ASC 480 if not fully exercised at the time of the Proposed Public Offering.

**Class A Ordinary Shares Subject to Possible Redemption**

The Company will account for its Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480, "Distinguishing Liabilities from Equity" (ASC 480). Ordinary shares subject to mandatory redemption (if any) will be classified as a liability instrument and will be measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that features redemption rights that are either within the control of the holder, or subject to redemption upon the occurrence of uncertain events not solely within the Company's control) will be classified as temporary equity. At all other times, ordinary shares will be classified as stockholders' equity. In accordance with ASC 480-10-S99, the Company will classify the Class A ordinary shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. Given that the 6,000,000 ordinary shares (or 6,900,000 ordinary shares if the underwriter's over-allotment option is exercised in full) sold as part of the units in the Proposed Public Offering will be issued with other freestanding instruments (i.e., rights), the initial carrying value of ordinary shares classified as temporary equity will be the allocated proceeds determined in accordance with ASC 470-20. If it is probable that the equity instrument will become redeemable, the Company has the option to either (i) accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or (ii) recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to recognize the changes immediately. The accretion or remeasurement will be treated as a deemed dividend (i.e., a reduction to retained earnings, or in absence of retained earnings, additional paid-in capital).

**Rights Accounting**

The Company accounts for rights as either equity-classified or liability-classified instruments based on an assessment of the right's specific terms and applicable authoritative guidance in ASC 480 and ASC 815. The assessment considers whether the rights are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the rights meet all of the requirements for equity classification under ASC 815, including whether the rights are indexed to the Company's own ordinary shares and whether the right holders could potentially require "net cash settlement" in a circumstance outside of the Company's control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of right issuance and as of each subsequent quarterly period end date while the rights are outstanding.

For issued or modified rights that meet all of the criteria for equity classification, the rights are required to be recorded as a component of equity at the time of issuance. For issued or modified rights that do not meet all the criteria for equity classification, the rights are required to be recorded as liabilities at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the rights are recognized as a non-cash gain or loss on the statement of operations.

As the rights to be issued upon the closing of the Proposed Public Offering and sale of Private Placement Units meet the criteria for equity classification under ASC 815, therefore, the rights are classified as equity.

**ALBERT ORIGIN ACQUISITION CORPORATION** 

**NOTES TO FINANCIAL STATEMENTS**

**Note 2 — Summary of Significant Accounting Policies** (cont.)

**Recent Accounting Standards**

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires the disclosure of additional segment information. ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-07 as the inception of the Company.

In December 2023, the FASB issued ASU 2023-09, *Income taxes* (Topic 740): Improvements to Income Tax Disclosure ("ASU 2023-09"), which enhances the transparency and usefulness of income tax disclosures. ASU 2023-09 will be effective for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company adopted ASU 2023-09 as the inception of the Company.

Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company's financial statements.

**Note 3 — Proposed Public Offering**

Pursuant to the Proposed Public Offering, the Company intends to offer for sale 6,000,000 Units (or 6,900,000 Units if the over-allotment option is exercised in full) at a price of $10.00 per Unit. Each Unit consists of one Class A ordinary share and one right to receive one-seventh (1/7) of one Class A ordinary share upon the consummation of an initial business combination ("Public Right"). The Company will not issue fractional shares upon the conversion of the rights. As a result, the holder must hold rights in multiples of seven in order to receive shares for all of their rights upon closing of a Business Combination. The Company has also granted the underwriter a 45-day option to purchase up to an additional 900,000 Units to cover over-allotments, if any.

**Note 4 — Private Placement**

The Sponsor has agreed to purchase an aggregate of 221,100 Private Units (or 234,600 Private Units if the over-allotment option is exercised in full) at a price of $10.00 per Private Unit for an aggregate purchase price of $2,211,000, or $2,346,000, if the over-allotment option is exercised in full, in a private placement that will occur simultaneously with the closing of the Proposed Public Offering. Each Private Unit will consist of one Class A ordinary share ("Private Share") and one right ("Private Right"). Each Private Right will receive one- seventh (1/7) of one Class A ordinary share upon the consummation of a Business Combination. The proceeds from the Private Units will be added to the proceeds from the Proposed Public Offering to be held in the Trust Account. If the Company does not complete a Business Combination within the Completion Window, the proceeds from the sale of the Private Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law), and the Private Units and all underlying securities will expire and become worthless.

**Note 5 — Related Party Transactions**

**Founder Shares**

On July 28, 2025, the Company agreed to issue to the Sponsor 2,957,143 Class B ordinary shares with a par value of $0.0001 per share (the "Founder Shares") for an aggregated consideration of $25,000, or approximately $0.0085 per share pursuant to a share subscription agreement. Such Founder Shares were issued on August 8, 2025, following the capital re-designation.

As of July 31, 2025, there was one ordinary share issued and outstanding, and the Sponsor had subscribed for 2,957,143 Founder Shares, among which, up to 385,714 shares subject to forfeiture to the extent that the underwriter's over-allotment is not exercised in full, so that the Sponsor will beneficially own 30% of the Company's issued and outstanding shares after the Proposed Public Offering (not including the shares underlying the private placement units and assuming the sponsor does not purchase any Public Shares in the Proposed Public Offering and excluding the Private Units).

**ALBERT ORIGIN ACQUISITION CORPORATION** 

**NOTES TO FINANCIAL STATEMENTS**

**Note 5 — Related Party Transactions** (cont.)

The Founder Shares are identical to the Class A ordinary shares included in the Units being sold in the Proposed Public Offering, and holders of Founder Shares have the same shareholder rights as public shareholders, except that (i) the Founder Shares are subject to certain transfer restrictions, as described in more detail below, and (ii) the Sponsor, officers and directors of the Company will enter into a letter agreement with the Company, pursuant to which they will agree (A) to waive their redemption rights with respect to the Founder Shares, private placement shares and public shares in connection with the completion of its initial Business Combination and (B) to waive their rights to liquidating distributions from the Trust Account with respect to the Founder Shares and private placement shares if the Company fails to complete its initial Business Combination within 15 months from the effective date of the registration statement (subject to shareholder approval, there are no limitations as to the duration of an extension or the number of times the Completion Window may be extended by shareholders via an amendment to the amended and restated memorandum and articles of association), although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails to complete its initial Business Combination within such time period and (iii) the Founder Shares and private placement shares are subject to registration rights. If the Company submits its initial Business Combination to its public shareholders for a vote, the Sponsor, officers and directors have agreed (and their permitted transferees will agree), pursuant to the terms of a letter agreement to be entered into with the Company, to vote any Founder Shares and private placement shares held by them and any public shares purchased during or after the Proposed Public Offering in favor of the Company's initial Business Combination.

With certain limited exceptions, the Founder Shares are not transferable, assignable or salable (except to certain permitted transferees) until the earlier of 180 days after the date of the consummation of the Company's initial Business Combination or the date on which the closing price of the Company's ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 90 days after the Company's initial Business Combination.

**Promissory Note — Related Party**

On July 28, 2025, the Sponsor agreed to loan the Company up to an aggregate amount of $500,000 to be used, in part, for transaction costs incurred in connection with the Proposed Public Offering (the "Promissory Note"). The Promissory Note is unsecured, interest-free; the principal may be drawn down from time to time upon a written request from the Company to the Sponsor. The Promissory Note is due on the earlier of: (i) December 31, 2026 or (ii) the date on which the Company consummates an initial public offering of its securities. As of July 31, 2025, $109,231 was outstanding under the Promissory Note.

**Working Capital Loans**

In addition, in order to finance transaction costs in connection with an intended Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company's officers and directors may, but are not obligated to, loan the Company funds as may be required ("Working Capital Loans"). If the Company completes the initial Business Combination, the Company may repay the Working Capital Loans. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to $1,500,000 of such Working Capital Loans may be convertible into units at a price of $10.00 per unit at the option of the lender. Such units would be identical to the Private Placement Units issued to the Sponsor. The terms of Working Capital Loans have not been determined and no written agreements exist with respect to such loans. As of July 31, 2025, the Company had no borrowings under the Working Capital Loans.

**Administrative Services Agreement**

The Company will enter into an Administrative Services Agreement with the Sponsor on the effective date of the registration statement of the initial public offering through the earlier of the consummation by the Company of an initial business combination or the Company's liquidation, to pay the Sponsor a total of $10,000 per month for office space and administrative and support services.

**Note 6 — Commitments and Contingencies**

**Registration Rights**

The holders of the Founder Shares issued and outstanding on the date of this prospectus, as well as the holders of the private units and any shares of the Company's insiders, officers, directors or their affiliates may be issued in payment of working capital loans and extension loans made to the Company (and any ordinary shares issuable upon conversion of the underlying the private rights), will be entitled to registration rights pursuant to an agreement to be signed prior to or on the effective date of the registration statement. The holders of a majority of the private units and units issued in payment of working capital loans made to us can elect to exercise these registration rights at any time commencing on the date that the Company consummate an initial business combination. In addition, the holders have certain "piggy-back" registration rights with respect to registration statements filed subsequent to the consummation of an initial business combination. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

**ALBERT ORIGIN ACQUISITION CORPORATION** 

**NOTES TO FINANCIAL STATEMENTS**

**Note 6 — Commitments and Contingency** (cont.)

**Underwriting Agreement**

The Company has granted the underwriter, Alliance Global Partners ("A.G.P."), a 45-day option from the date of the Proposed Public Offering to purchase up to 900,000 additional Units to cover over-allotments, if any, at the Proposed Public Offering price less the underwriting discounts and commissions.

The underwriter will be entitled to a cash underwriting discount of 1.50% of the gross proceeds of the Proposed Public Offering, or $900,000 (or $1,035,000 if the over-allotment option is exercised in full) payable upon the closing of this offering. The Company also has agreed to issue to A.G.P. or its designee an aggregate of 80,000 Class A ordinary shares ("Representative Shares"), as part of representative compensation, which will be issued upon the closing of the offering.

Additionally, the Company also has agreed to issue to A.G.P. or its designee an aggregate of 210,000 Class A ordinary shares (or 241,500 if the underwriter's over-allotment option is exercised in full) ("A.G.P. Shares"), as part of representative compensation, which will be issued upon the closing of the Proposed Public Offering subject to the terms of the underwriting agreement.

 **Representative's Class A Ordinary Shares**

The Representative Shares will have the same terms as any founder shares issued as part of this offering and shall be subject to a 180-day lock-up from the closing of the offering. The Representative Shares will provide customary anti-dilution provisions (for stock dividends and splits and recapitalizations) consistent with FINRA Rule 5110, and further, the number of shares underlying the Representative Shares shall be reduced, if necessary, to comply with FINRA rules or regulations.

The Representative Shares and the A.G.P. Shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date of the effectiveness of the registration statement of which this prospectus forms a part pursuant to Rule 5110(e)(1) of the FINRA Manual. Pursuant to FINRA Rule 5110(e)(1), these securities will not be sold during the offering, or sold, transferred, assigned, pledged, or hypothecated, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days immediately following the commencement of sales of this offering, subject to exceptions pursuant to Rule 5110(e)(2). In addition, the A.G.P. Shares shall also be subject to an additional lock-up for a period of 180 days from the consummation of the initial business combination.

**Note 7 — Shareholder's Equity**

***Ordinary shares*** — Prior to the capital re-designation which occurred on August 8, 2025, the Company was authorized to issue up to 500,000,000 ordinary shares with a par value of $0.0001 per share. As of July 31, 2025, there was one ordinary share issued and outstanding.

***Preference shares —*** Following the capital re-designation, the Company is authorized to issue up to 600,000 preference shares with a par value of $0.0001 per share. As of the date of the capital re-designation, there were no preference shares issued or outstanding.

***Class A Ordinary shares*** — Following the capital re-designation, the Company is authorized to issue up to 60,000,000 Class A ordinary shares with a par value of $0.0001 per share. As of the date of the capital re-designation, there were no Class A ordinary shares issued or outstanding.

***Class B Ordinary shares*** — Following the capital re-designation, the Company is authorized to issue up to 6,000,000 Class B ordinary shares with a par value of $0.0001 per share. As of July 31, 2025, the Sponsor had agreed to subscribe for 2,957,143 Class B ordinary shares pursuant to a share subscription agreement executed on July 28, 2025, among which, up to 385,714 shares subject to forfeiture to the extent that the underwriter's over-allotment is not exercised in full. Such Class B ordinary shares were issued on August 8, 2025, following the capital re-designation.

The Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of the initial Business Combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares or equity-linked securities, are issued or deemed issued in excess of the amounts sold in this offering and related to or in connection with the closing of the initial business combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 30% of the sum of (i) the total number of all Class A ordinary shares outstanding upon the completion of this offering (including any Class A ordinary shares issued pursuant to the underwriter's over-allotment option and excluding the Class A ordinary shares underlying the private units issued to the sponsor and representative shares), plus (ii) all Class A ordinary shares and equity-linked securities issued or deemed issued, in connection with the closing of the initial business combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial business combination and any private placement-equivalent units issued to our sponsor or any of its affiliates or to our officers or directors upon conversion of working capital loans) minus (iii) any redemptions of Class A ordinary shares by public shareholders in connection with an initial business combination or an amendment to our post-offering memorandum and articles of association made prior to the consummation of the initial business combination (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within the completion window or (B) with respect to any other material provisions relating to the rights of holders of Class A ordinary shares; provided that such conversion of initial shares will never occur on a less than one-for-one basis.

Shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders. Unless specified in the Company's amended and restated memorandum and articles of association or as required by the Companies Act or stock exchange rules, an ordinary resolution under Cayman Islands law and the Company's post-offering memorandum and articles of association. Approval of certain actions requires a special resolution under Cayman Islands law and the Company's post-offering memorandum and articles of association, and pursuant to the Company's post-offering memorandum and articles of association, such actions include amending the Company's amended and restated memorandum and articles of association and approving a statutory merger or consolidation with another company.

**ALBERT ORIGIN ACQUISITION CORPORATION** 

**NOTES TO FINANCIAL STATEMENTS**

**Note 7 — Shareholder's Deficit** (cont.)

***Rights*** — Each holder of a right will receive one-seventh (1/7) of one ordinary share upon consummation of a Business Combination, even if the holder of such right redeemed all shares held by it in connection with a Business Combination. No fractional shares will be issued upon conversion of the rights. No additional consideration will be required to be paid by a holder of rights in order to receive their additional shares upon consummation of a Business Combination, as the consideration related thereto has been included in the Unit purchase price paid for by investors in the Proposed Public Offering. If the Company enters into a definitive agreement for a Business Combination in which the Company will not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same per ordinary share consideration the holders of the ordinary shares will receive in the transaction on an as-converted into ordinary shares basis and each holder of a right will be required to affirmatively convert its rights in order to receive one share underlying each right (without paying additional consideration). The shares issuable upon conversion of the rights will be freely tradable (except to the extent held by affiliates of the Company).

If the Company is unable to complete a Business Combination within the completion window and the Company liquidates the funds held in the Trust Account, holders of rights will not receive any of such funds with respect to their rights, nor will they receive any distribution from the Company's assets held outside of the Trust Account with respect to such rights, and the rights will expire worthless. Further, there are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of a Business Combination. Additionally, in no event will the Company be required to net cash settle the rights. Accordingly, holders of the rights might not receive the ordinary shares underlying the rights.

**Note 8 — Segment Information**

ASC Topic 280, "Segment Reporting," establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company's chief operating decision maker, or group, in deciding how to allocate resources and assess performance.

The Company's chief operating decision maker ("CODM") has been identified as the Chief Executive Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating and reportable segment. The Company's CODM does not review assets by segment in his evaluation and therefore assets by segment are not disclosed below.

When evaluating the Company's performance and making key decisions regarding resource allocation the CODM reviews key metrics, which include the following:

---

| | |
|:---|:---|
|  | **For the <br> Period From<br> June 25,<br> 2025<br> (Inception)<br> Through<br> July 31, <br> 2025** |
| Formation and operating costs | $19231 |

---

Formation and operational costs are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a Proposed Public Offering and eventually a Business Combination within the business combination period. The CODM also reviews formation and operational costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. Formation and operational costs, as reported on the statement of operations, are the significant segment expenses provided to the CODM on a regular basis.

All other segment items included in net income or loss are reported on the statement of operations and described within their respective disclosures.

**Note 9 — Subsequent Events**

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based on the review, the Company identified the following subsequent event that would have required adjustment or disclosure in the financial statements.

On August 8, 2025, the Company issued the Sponsor 2,957,143 Class B ordinary shares with a par value of $0.0001 per share for an aggregated consideration of $25,000, or approximately $0.0085 per share, following the capital re-designation.

In September 2025, the Company amended its underwriting agreement to issue to A.G.P. or its designee an aggregate of 210,000 Class A ordinary shares (or 241,500 if the underwriter's over-allotment option is exercised in full) as part of representative compensation, which will be issued upon the closing of the Proposed Public Offering. Previously, the underwriter was entitled to a deferred underwriting discount of 3.5% of the gross proceeds of the Proposed Public Offering, or $2,100,000 (or $2,415,000 if the underwriter's over-allotment option is exercised in full) in the form of Class A ordinary shares, payable upon the completion of the Company's initial Business Combination.

**6,000,000 Units**

**Albert Origin Acquisition Corp.**

**PRELIMINARY PROSPECTUS**

***Sole Book-Running Manager***

**A.G.P.**

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**, 2025**

Until , 2025 (25<sup>th</sup> days after the date of this prospectus), all dealers that buy, sell or trade our securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to the dealers' obligation to deliver a prospectus when acting as underwriter and with respect to their unsold allotments or subscriptions.

You should rely only on the information contained in this prospectus. We have not, and the underwriter has not, authorized anyone to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely on it. We and the underwriter take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may provide to you. We are not, and the underwriter is not, making an offer to sell securities in any jurisdiction where the offer or sale is not permitted. You should not assume that the information contained in this prospectus is accurate as of any date other than the date on the front of this prospectus.

No dealer, salesperson or any other person is authorized to give any information or make any representations in connection with this offering other than those contained in this prospectus and, if given or made, the information or representations must not be relied upon as having been authorized by us. This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any security other than the securities offered by this prospectus, or an offer to sell or a solicitation of an offer to buy any securities by anyone in any jurisdiction in which the offer or solicitation is not authorized or is unlawful.

**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 13. Other Expenses of Issuance and Distribution.**

The estimated expenses payable by us in connection with the offering described in this registration statement (other than the underwriting discount and commissions) will be as follows:

---

| | |
|:---|:---|
| Underwriter accountable expenses | $100000.00 |
| Initial trustee Fee | $6500.00 |
| Legal fees and expenses | $210000.00 |
| Nasdaq listing fee | $80000.00 |
| SEC registration fee | $9594.00 |
| FINRA filing fee | $10250.00 |
| Printing and engraving expenses | $25000.00 |
| Transfer agent fee | $25000.00 |
| Accounting fees and expenses | $15000.00 |
| Underwriter non-accountable expenses | $20000.00 |
| D&O insurance | $150000.00 |
| Miscellaneous expenses | $44656.00 |
| **Total offering expenses** | $**761000.00** |

---

**Item 14. Indemnification of Officers and Directors.**

Cayman Islands law does not limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against willful default, willful neglect, civil fraud or the consequences of committing a crime. Our post-offering memorandum and articles of association will provide for indemnification of our officers and directors to the maximum extent permitted by law, including for any liability incurred in their capacities as such, except through their own actual fraud, willful default or willful neglect. We will enter into agreements with our officers and directors to provide contractual indemnification in addition to the indemnification provided for in our post-offering memorandum and articles of association. We expect to purchase a policy of officers' and directors' liability insurance that insures our officers and directors against the cost of defense, settlement or payment of a judgment in some circumstances and insures us against our obligations to indemnify our officers and directors.

Our officers and directors [have agreed] to waive any right, title, interest or claim of any kind in or to any monies in the trust account, as well as any right, title, interest or claim of any kind they may have in the future as a result of, or arising out of, any services provided to us, and will not seek recourse against the trust account for any reason whatsoever (except to the extent they are entitled to funds from the trust account due to their ownership of public shares). Accordingly, any indemnification provided will only be able to be satisfied by us if (i) we have sufficient funds outside of the trust account or (ii) we consummate an initial business combination.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to officers, directors or persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Item 15. Recent Sales of Unregistered Securities.**

On July 28, 2025, our sponsor subscribed for an aggregate of 2,957,143 founder shares of a par value $0.0001 each to our sponsor for an aggregate purchase price of $25,000, or approximately $0.008 per share. Such founder shares were issued on August 8, 2025, following the capital re-designation. Our sponsor currently owns all of the founder shares that are currently issued and outstanding (up to 385,174 shares subject to forfeiture to the extent that the underwriter's over-allotment is not exercised in full). Our sponsor is an accredited investor for purposes of Rule 501 of Regulation D.

In addition, our sponsor [has agreed] to purchase an aggregate of 221,100 units (or 234,600 units if the over-allotment option is exercised in full) at a price of $10.0 per unit for an aggregate purchase price of $2,211,000, or $2,346,000 if the over-allotment option is exercised in full. Each private unit will be identical to the units as part of the units sold in this offering, except as described in this prospectus. The private units will be sold in a private placement that will close simultaneously with the closing of this offering, including the over-allotment option, as applicable. This purchase will take place on a private placement basis simultaneously with the completion of our initial public offering.

These issuances will be made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. No underwriting discounts or commissions were paid with respect to such sales.

**Item 16. Exhibits and Financial Statement Schedules.**

(a) Exhibits. The following exhibits are being filed herewith:

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 1.1\* | Form of Underwriting Agreement. |
| 3.1 | [Amended and Restated Memorandum and Articles of Association.](ex3-1.htm) |
| 3.2 | [Form of Second Amended and Restated Memorandum and Articles of Association.](ex3-2.htm) |
| 4.1\* | Specimen Unit Certificate. |
| 4.2\* | Specimen Class A Ordinary Share Certificate. |
| 4.3\* | Specimen Right Certificate. |
| 4.4\* | Form of Rights Agreement between and the Registrant. |
| 5.1\* | Opinion of Appleby. |
| 5.2\* | Opinion of DLA Piper UK LLP. |
| 10.1\*\* | Promissory Note, issued to the Insiders, dated as of July 28, 2025. |
| 10.2 | [Subscription Agreement by and among the Registrant and Insiders, dated as of July 28, 2025.](ex10-2.htm) |
| 10.3\* | Form of Letter Agreement among the Registrant, the Underwriter and the Registrant's officers, directors and shareholders. |
| 10.4\* | Form of Investment Management Trust Agreement between and the Registrant. |
| 10.5\* | Form of Escrow Agreement between the Registrant, and the Insiders. |
| 10.6\* | Form of Registration Rights Agreement among the Registrant and the Insiders. |
| 10.7\* | Form of Administrative Services Agreement by and between the Registrant and an affiliate of the Registrant |
| 10.8\* | Form of Private Units Purchase Agreement between the Registrant and Issacyan Co. Ltd. |
| 10.9\* | Form of Indemnity Agreement. |
| 14.1\* | Form of Code of Ethics. |
| 23.1\* | Consent of Adeptus Partners LLC. |
| 23.2\* | Consent of Appleby (included in Exhibit 5.1). |
| 23.3\* | Consent of DLA Piper UK LLP (included in Exhibit 5.2). |
| 24.1\* | Power of Attorney (included on signature page). |
| 99.1 | [Consent of Xiangyi Chen.](ex99-1.htm) |
| 99.2 | [Consent of Yan Leng.](ex99-2.htm) |
| 107\* | Filing Fee Table. |

---

\* To be filed by amendments.

\*\*Previously submitted.

(b) Financial Statements. See page F-1 for an index to the financial statements and schedules included in the registration statement.

**Item 17. Undertakings.**

(a) The undersigned registrant hereby undertakes to provide to the underwriter at the closing specified in the underwriting agreement, certificates in such denominations and registered in such names as required by the underwriter to permit prompt delivery to each purchaser.

(b) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

(c) The undersigned registrant hereby undertakes that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period
 in which offers or sales are being made, a post-effective amendment to this registration statement:

● to include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

● to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement; and

● to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) For the purpose of determining
 any liability under the Securities Act of 1933, each post-effective amendment that contains a form of prospectus shall be deemed to
 be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
 be deemed to be the initial *bona fide* offering thereof.

(3) To remove from registration
 by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(4) For the purpose of determining
 liability under the Securities Act of 1933 of any purchaser, if the registrant is subject to Rule 430C, each prospectus filed pursuant
 to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B
 or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement
 as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus
 that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration
 statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to
 such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration
 statement or made in any such document immediately prior to such date of first use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) For the purpose of determining
 liability of a registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned
 registrant undertakes that in a primary offering of securities of an undersigned registrant pursuant to this registration statement,
 regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser
 by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered
 to offer or sell such securities to such purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any preliminary prospectus
 or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

(ii) any free writing prospectus
 relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by an undersigned registrant;

(iii) the portion of any other
 free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities
 provided by or on behalf of the undersigned registrant; and (iv) any other communication that is an offer in the offering made by the
 undersigned registrant to the purchaser.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Beijing, China.

---

| | |
|:---|:---|
| **Albert Origin** **Acquisition Corp.** | **Albert Origin** **Acquisition Corp.** |
| By: |  |
| Name: | Bo Yan |
| Title: | Director |

---

**POWER OF ATTORNEY**

KNOW ALL MEN BY THESE PRESENTS, that each of the undersigned constitutes and appoints each of Bo Yan his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for such person and in his name, place and stead, in any and all capacities, to sign this registration statement on Form S-1 (including all pre-effective and post- effective amendments and registration statements filed pursuant to Rule 462 under the Securities Act of 1933), and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, each acting alone, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming that any such attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Name** | **Position** | **Date** |
|  | Chairman of the Board of Directors and Chief Executive Officer and | , 2025 |
| Bo Yan | (Principal executive officer) |  |
|  | Chief Financial Officer | , 2025 |
| Shen Ma | (Principal financial and accounting officer) |  |
|  | Director | &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;, 2025 |
| Angel Colon |  |  |

---

**SIGNATURE OF AUTHORIZED U.S. REPRESENTATIVE OF THE REGISTRANT**

Pursuant to the Securities Act, the undersigned, the duly authorized representative in the United States of the registrant has signed this registration statement or amendment thereto on the day of , 2025.

By:   <br> Name: <br> Title:

## Exhibit 3.1

**Exhibit 3.1**

**THE COMPANIES ACT (AS REVISED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**MEMORANDUM AND ARTICLES OF ASSOCIATION**

**OF**

**ALBERT ORIGIN ACQUISITION CORPORATION**

(Adopted by a Special Resolution dated 8 August 2025)

![](ex3-1_001.jpg)

*www.verify.gov.ky File#: 422876* *Filed: 20-Aug-2025 14:07 EST* <br> *Auth Code: B44195830639*

**THE COMPANIES ACT (AS REVISED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**MEMORANDUM OF ASSOCIATION**

**OF**

**ALBERT ORIGIN ACQUISITION CORPORATION**

(Adopted by a Special Resolution dated 8 August 2025)

1. The
 name of the Company is Albert Origin Acquisition Corporation.

2. The
 registered office of the Company will be situated at the offices of Osiris International
 Cayman Limited, Suite #4-210, Governors Square, 23 Lime Tree Bay Avenue, PO Box 32311, Grand
 Cayman KY1-1209, Cayman Islands or at such other place in the Cayman Islands as the Directors
 may from time to time decide.

3. The
 objects for which the Company is established are unrestricted and the Company shall have
 full power and authority to carry out any object that is not prohibited by the laws of the
 Cayman Islands.

4. The
 liability of each Member is limited to the amount, if any, unpaid on such Member's
 shares.

5. The
 share capital of the Company is US$6,660.00 divided into 60,000,000 Class A ordinary shares
 of a par value of US$0.0001 each, 6,000,000 Class B ordinary shares of a par value of US$0.0001
 each and 600,000 preference shares of a par value of US$0.0001 each.

6. The
 Company has power to register by way of continuation as a body corporate limited by shares
 under the laws of any jurisdiction outside the Cayman Islands and to be deregistered in the
 Cayman Islands.

7. Capitalised
 terms that are not defined in this Memorandum of Association bear the respective meanings
 given to them in the Articles of Association of the Company.

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**THE COMPANIES ACT (AS REVISED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**ALBERT ORIGIN ACQUISITION CORPORATION**

(Adopted by a Special Resolution dated 8 August 2025)

1. **INTERPRETATION** 

1.1 In
 the Articles Table A in the First Schedule to the Statute does not apply and, unless there
 is something in the subject or context inconsistent therewith:

**Applicable Law:** means, with respect to any Person, all applicable provisions of all constitutions, treaties, statutes, laws (including the common law), codes, rules, regulations, ordinances or orders of any Governmental Authority, and any orders, decisions, injunctions, judgments, awards and decrees of or agreements with any Governmental Authority;

**Articles:** means these articles of association of the Company;

**Auditor:** means the Person for the time being performing the duties of auditor of the Company (if any);

**Business Combination:** means a merger, share exchange, asset acquisition, share purchase, reorganisation or similar business combination involving the Company, with one or more businesses or entities (the **target business**), which Business Combination: (a) as long as the securities of the Company are listed on a Designated Stock Exchange, must occur with one or more target businesses that together have an aggregate fair market value of at least 80 per cent of the assets held in the Trust Account (excluding the amount of deferred underwriting commissions held in the Trust Account and taxes payable on the income earned on the Trust Account) at the time of signing the definitive agreement to enter into such Business Combination; and (b) must not be effectuated solely with another blank cheque company or a similar company with nominal operations;

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**Class or Classes:** means any class or classes of Shares as may from time to time be issued by the Company;

**Class A Share:** means a Class A ordinary share of a par value of US$0.0001 in the share capital of the Company;

**Class B Share:** means a Class B ordinary share of a par value of US$0.0001 in the share capital of the Company;

**Class B Share Conversion:** means the conversion of Class B Shares in accordance with Article 17;

**Company:** means the above named company;

**Designated Stock Exchange:** means any national securities exchange or automated system on which the Company's securities are traded, including The New York Stock Exchange, the NASDAQ Capital Market or any over-the-counter (OTC) market;

**Directors:** means the directors for the time being of the Company;

**Dividend:** means any dividend (whether interim or final) resolved to be paid on Shares pursuant to the Articles;

**Electronic Record:** has the same meaning as in the Electronic Transactions Act;

**Electronic Transactions Act:** means the Electronic Transactions Act (2003 Revision) of the Cayman Islands;

**Equity-linked Securities:** means any debt or equity securities that are convertible, exercisable or exchangeable for Class A Shares issued in a financing transaction in connection with a Business Combination, including but not limited to a private placement of equity or debt;

**Founders:** means the Sponsor and all Members immediately prior to the consummation of the IPO;

**Governmental Authority:** means any nation or government or any province or state or any other political subdivision thereof, or any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any court, tribunal, government authority, agency, department, board, commission or instrumentality or any political subdivision thereof, any court, tribunal or arbitrator, and any self-regulatory organisation;

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**Indemnified Person:** has the meaning ascribed to such term in Article 48.1;

**Initial Conversion Ratio:** has the meaning ascribed to such term in Article 18.1;

**IPO:** means the Company's initial public offering of securities;

**Member:** has the same meaning as in the Statute;

**Memorandum:** means the memorandum of association of the Company;

**Ordinary Resolution:** means a resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) passed
 by a simple majority of the Members as, being entitled to do so, vote in person or, where
 proxies are allowed, by proxy at a general meeting of the Company and where a poll is taken
 regard shall be had in computing a majority to the number of votes to which each Member is
 entitled; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) approved
 in writing by all of the Members entitled to vote at a general meeting of the Company in
 one or more instruments each signed by one or more of the Members and the effective date
 of the resolution so adopted shall be the date on which the instrument or the last of such
 instruments, if more than one, is executed;

**Over-Allotment Option:** means the option of the Underwriter to purchase up to an additional 15 per cent of the units sold in the IPO;

**Person:** means any individual, corporation, company, limited liability company, partnership, limited partnership, proprietorship, association, joint venture, institution, public benefit corporation, firm, trust, estate or other enterprise or entity (whether or not having a separate legal personality) or Governmental Authority or any of them as the context so requires, other than in respect of a Director or officer of the Company in which circumstances Person shall mean any individual or entity permitted to act as such in accordance with the laws of the Cayman Islands;

**Preference Share:** means a preference share of a par value of US$0.0001 in the share capital of the Company;

**Register of Members:** means the register of Members maintained in accordance with the Statute and includes (except where otherwise stated) any branch or duplicate register of Members;

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**Registered Office:** means the registered office for the time being of the Company;

**Seal:** means the common seal of the Company and includes every duplicate seal;

**SEC:** means the United States Securities and Exchange Commission;

**Series:** means a series of a Class as may from time to time be issued by the Company;

**Share:** means a Class A Share, a Class B Share or a Preference Share and includes a fraction of a share in the Company;

**Share Premium Account:** means the share premium account established in accordance with the Articles and the Statute;

**Special Resolution:** means a special resolution of the Company passed in accordance with the Statute, being a resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) passed
 by a majority of not less than two-thirds of such Members as, being entitled to do so, vote
 in person or, where proxies are allowed, by proxy at a general meeting of the Company of
 which notice specifying the intention to propose the resolution as a special resolution has
 been duly given and where a poll is taken regard shall be had in computing a majority to
 the number of votes to which each Member is entitled; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) approved
 in writing by all of the Members entitled to vote at a general meeting of the Company in
 one or more instruments each signed by one or more of the Members and the effective date
 of the special resolution so adopted shall be the date on which the instrument or the last
 of such instruments, if more than one, is executed;

**Sponsor:** means Isaacyan Co., Ltd;

**Statute:** means the Companies Act (As Revised) of the Cayman Islands;

**Subscriber:** means the subscriber to the Memorandum;

**Treasury Share:** means a Share held in the name of the Company as a treasury share in accordance with the Statute;

**Trust Account**: means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of the private placement of the warrants simultaneously with the closing date of the IPO, will be deposited; and

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**Underwriter:** means an underwriter of the IPO from time to time and any successor underwriter.

1.2 In
 these Articles:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) words
 importing the singular number include the plural number and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) words
 importing the masculine gender include the feminine gender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) words
 importing persons include corporations and any other legal or natural persons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "written"
 and "in writing" include all modes of representing or reproducing words in visible
 form, including in the form of an Electronic Record;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "shall"
 shall be construed as imperative and "may" shall be construed as permissive;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) references
 to provisions of any law or regulation shall be construed as references to those provisions
 as amended, modified, re-enacted or replaced;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any
 phrase introduced by the terms "including", "include", "in
 particular" or any similar expression shall be construed as illustrative and shall
 not limit the sense of the words preceding those terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the
 term "and/or" is used herein to mean both "and" as well as "or."
 The use of "and/or" in certain contexts in no respects qualifies or modifies
 the use of the terms "and" or "or" in others. The term "or"
 shall not be interpreted to be exclusive and the term "and" shall not be interpreted
 to require the conjunctive (in each case, unless the context otherwise requires);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) headings
 are inserted for reference only and shall be ignored in construing the Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any
 requirements as to delivery under the Articles include delivery in the form of an Electronic
 Record;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) any
 requirements as to execution or signature under the Articles including the execution of the
 Articles themselves can be satisfied in the form of an electronic signature as defined in
 the Electronic Transactions Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) sections
 8 and 19(3) of the Electronic Transactions Act shall not apply;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) the
 term "clear days" in relation to the period of a notice means that period excluding
 the day when the notice is received or deemed to be received and the day for which it is
 given or on which it is to take effect;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) the
 term "holder" in relation to a Share means a Person whose name is entered in
 the Register of Members as the holder of such Share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) reference
 to any determination by the Directors shall be construed as a determination by the Directors
 in their sole and absolute discretion and shall be applicable either generally or in any
 particular case; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) reference
 to a dollar or dollars or USD or US$ or $ and to a cent or cents is reference to dollars
 and cents of the United States of America.

2. **COMMENCEMENT OF BUSINESS** 

2.1 The
 business of the Company may be commenced as soon after incorporation of the Company as the
 Directors shall see fit.

2.2 The
 Directors may pay, out of the capital or any other monies of the Company, all expenses incurred
 in or about the formation and establishment of the Company, including the expenses of registration.

**3.** **ISSUE OF SHARES AND OTHER SECURITIES** 

3.1 Subject
 to the provisions, if any, in the Memorandum (and to any direction that may be given by the
 Company in general meeting) and, where applicable, the rules and regulations of the Designated
 Stock Exchange, the SEC and/or any other competent regulatory authority or otherwise under
 Applicable Law, and without prejudice to any rights attached to any existing Shares, the
 Directors may allot, issue, grant options over or otherwise dispose of Shares (including
 fractions of a Share) with or without preferred, deferred or other rights or restrictions,
 whether in regard to Dividends or other distributions, voting, return of capital or otherwise
 and to such Persons, at such times and on such other terms as they think proper, and may
 also (subject to the Statute and the Articles) vary such rights, save that the Directors
 shall not allot, issue, grant options over or otherwise dispose of Shares (including fractions
 of a Share) to the extent that it may affect the ability of the Company to carry out a Class
 B Share Conversion set out in the Articles.

3.2 The
 Company may issue rights, options, warrants or convertible securities or securities of similar
 nature conferring the right upon the holders thereof to subscribe for, purchase or receive
 any class of Shares or other securities in the Company, upon such terms as the Directors
 may from time to time determine and for such purposes the Directors may reserve an appropriate
 number of Shares for the time being unissued.

3.3 The
 Company may issue units of securities in the Company, which may be comprised of whole or
 fractional Shares, rights, options, warrants or convertible securities or securities of similar
 nature conferring the right upon the holders thereof to subscribe for, purchase or receive
 any class of Shares or other securities in the Company, upon such terms as the Directors
 may from time to time determine and for such purposes the Directors may reserve an appropriate
 number of Shares for the time being unissued.

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3.4 The
 Company shall not issue Shares to bearer.

3.5 Subject
 to Article 10, the Directors, or the Members by Ordinary Resolution, may authorise the division
 of Shares into any number of Classes and sub-classes and Series and sub-series and the different
 Classes and sub-classes and Series and sub-series shall be authorised, established and designated
 (or re-designated as the case may be) and the variations in the relative rights (including,
 without limitation, voting, dividend and redemption rights), restrictions, preferences, privileges
 and payment obligations as between the different Classes and Series (if any) may be fixed
 and determined by the Directors or the Members by Ordinary Resolution.

3.6 The
 Directors may refuse to accept any application for Shares, and may accept any application
 in whole or in part, for any reason or for no reason.

3.7 The
 Directors may issue fractions of a Share and, if so issued, a fraction of a Share shall be
 subject to and carry the corresponding fraction of liabilities (whether with respect to nominal
 or par value, premium, contributions, calls or otherwise), limitations, preferences, privileges,
 qualifications, restrictions, rights (including, without prejudice to the generality of the
 foregoing, voting and participation rights) and other attributes of a whole Share. If more
 than one fraction of a Share of the same class is issued to or acquired by the same Member
 such fractions shall be accumulated.

4. **REGISTER OF MEMBERS** 

4.1 The
 Company shall maintain or cause to be maintained the Register of Members in accordance with
 the Statute.

4.2 The
 Directors may determine that the Company shall maintain one or more branch registers of Members
 in accordance with the Statute. The Directors may also determine which register of Members
 shall constitute the principal register and which shall constitute the branch register or
 registers, and to vary such determination from time to time.

5. **CLOSING OF REGISTER OF MEMBERS OR FIXING RECORD DATE** 

5.1 For
 the purpose of determining Members entitled to notice of, or to vote at any meeting of Members
 or any adjournment thereof, or Members entitled to receive payment of any Dividend or other
 distribution, or in order to make a determination of Members for any other purpose, the Directors
 may provide that the Register of Members shall be closed for transfers for a stated period
 which shall not in any case exceed forty days.

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5.2 In
 lieu of, or apart from, closing the Register of Members, the Directors may fix in advance
 or arrears a date as the record date for any such determination of Members entitled to notice
 of, or to vote at any meeting of the Members or any adjournment thereof, or for the purpose
 of determining the Members entitled to receive payment of any Dividend or other distribution,
 or in order to make a determination of Members for any other purpose.

5.3 If
 the Register of Members is not so closed and no record date is fixed for the determination
 of Members entitled to notice of, or to vote at, a meeting of Members or Members entitled
 to receive payment of a Dividend or other distribution, the date on which notice of the meeting
 is sent or the date on which the resolution of the Directors resolving to pay such Dividend
 or other distribution is passed, as the case may be, shall be the record date for such determination
 of Members. When a determination of Members entitled to vote at any meeting of Members has
 been made as provided in this Article, such determination shall apply to any adjournment
 thereof.

6. **CERTIFICATES FOR SHARES** 

6.1 A
 Member shall only be entitled to a share certificate if the Directors resolve that share
 certificates shall be issued. Share certificates representing Shares, if any, shall be in
 such form as the Directors may determine. Share certificates shall be signed by one or more
 Directors or other Person authorised by the Directors. The Directors may authorise certificates
 to be issued with the authorised signature(s) affixed by mechanical process. All certificates
 for Shares shall be consecutively numbered or otherwise identified and shall specify the
 Shares to which they relate. All certificates surrendered to the Company for transfer shall
 be cancelled and, subject to the Articles, no new certificate shall be issued until the former
 certificate representing a like number of relevant Shares shall have been surrendered and
 cancelled.

6.2 The
 Company shall not be bound to issue more than one certificate for Shares held jointly by
 more than one Person and delivery of a certificate to one joint holder shall be a sufficient
 delivery to all of them.

6.3 If
 a share certificate is defaced, worn out, lost or destroyed, it may be renewed on such terms
 (if any) as to evidence and indemnity and on the payment of such expenses reasonably incurred
 by the Company in investigating evidence, as the Directors may prescribe, and (in the case
 of defacement or wearing out) upon delivery of the old certificate.

6.4 Every
 share certificate sent in accordance with the Articles will be sent at the risk of the Member
 or other Person entitled to the certificate. The Company will not be responsible for any
 share certificate lost or delayed in the course of delivery.

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7. **TRANSFER OF SHARES** 

7.1 Subject
 to Article 3.1, Shares are transferable subject to the approval of the Directors by resolution
 who may, in their absolute discretion, decline to register any transfer of Shares without
 giving any reason. If the Directors refuse to register a transfer they shall notify the transferee
 within two months of such refusal.

7.2 The
 instrument of transfer of any Share shall be in writing and shall be executed by or on behalf
 of the transferor (and if the Directors so require, signed by or on behalf of the transferee).
 The transferor shall be deemed to remain the holder of a Share until the name of the transferee
 is entered in the Register of Members.

8. **REDEMPTION, REPURCHASE AND SURRENDER OF SHARES** 

8.1 Subject
 to the provisions of the Statute, the Company may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue
 Shares that are to be redeemed or are liable to be redeemed at the option of the Member or
 the Company in such manner and upon such other terms as the Directors may determine before
 the issuance of the Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) purchase
 its own Shares (including any redeemable Shares) in such manner and on such other terms as
 the Directors may determine and agree with the relevant Member.

8.2 The
 Company may make a payment in respect of the redemption or purchase of its own Shares in
 any manner permitted by the Statute, including out of capital.

8.3 Class
 B Shares held by the Sponsor shall be surrendered by the Sponsor on a pro rata basis for
 no consideration to the extent that the Over-Allotment Option is not exercised in full so
 that the Founders will own 20 per cent of the Company's issued Shares after the IPO
 (exclusive of any securities purchased in a private placement simultaneously with the IPO).

8.4 Any
 Share in respect of which notice of redemption has been given shall not be entitled to participate
 in the profits of the Company in respect of the period after the date specified as the date
 of redemption in the notice of redemption.

8.5 The
 redemption, purchase or surrender of any Share shall not be deemed to give rise to the redemption,
 purchase or surrender of any other Share.

8.6 The
 Directors may when making payments in respect of redemption or purchase of Shares, if authorised
 by the terms of issue of the Shares being redeemed or purchased or with the agreement of
 the holder of such Shares, make such payment either in cash or in specie including, without
 limitation, interests in a special purpose vehicle holding assets of the Company or holding
 entitlement to the proceeds of assets held by the Company or in a liquidating structure.

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8.7 The
 Directors may accept the surrender for no consideration of any fully paid Share (including
 any redeemable share).

9. **TREASURY SHARES** 

9.1 The
 Directors may, prior to the purchase, redemption or surrender of any Share, determine that
 such Share shall be held as a Treasury Share.

9.2 The
 Directors may determine to cancel a Treasury Share or transfer a Treasury Share on such terms
 as they think proper (including, without limitation, for nil consideration).

9.3 No
 Dividend may be declared or paid, and no other distribution (whether in cash or otherwise)
 of the Company's assets (including any distribution of assets to Members on a winding
 up) may be declared or paid in respect of a Treasury Share.

9.4 The
 Company shall be entered in the Register of Members as the holder of the Treasury Shares
 provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company shall not be treated as a Member for any purpose and shall not exercise any right
 in respect of the Treasury Shares, and any purported exercise of such a right shall be void;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a
 Treasury Share shall not be voted, directly or indirectly, at any meeting of the Company
 and shall not be counted in determining the total number of issued Shares at any given time,
 whether for the purposes of the Articles or the Statute, save that an allotment of Shares
 as fully paid bonus shares in respect of a Treasury Share is permitted and Shares allotted
 as fully paid bonus shares in respect of a Treasury Share shall be treated as Treasury Shares.

10. **VARIATION OF SHARE RIGHTS** 

10.1 If
 at any time the share capital of the Company is divided into different classes of Shares,
 all or any of the rights attached to any class (unless otherwise provided by the terms of
 issue of the Shares of that class) may, whether or not the Company is being wound up, be
 varied without the consent of the holders of the issued Shares of that class where such variation
 is considered by the Directors not to have a material adverse effect upon such rights; otherwise,
 any such variation shall be made only with the consent in writing of the holders of not less
 than two-thirds of the issued Shares of that class, or with the approval of a resolution
 passed by a majority of not less than two-thirds of the votes cast at a separate meeting
 of the holders of the Shares of that class (other than with respect to a waiver of the provisions
 of the Article in respect of Class B Share Conversion hereof, which as stated therein shall
 only require the consent in writing of the holders of a majority of the issued Shares of
 that class). For the avoidance of doubt, the Directors reserve the right, notwithstanding
 that any such variation may not have a material adverse effect, to obtain consent from the
 holders of Shares of the relevant class. To any such meeting all the provisions of the Articles
 relating to general meetings shall apply *mutatis mutandis*, except that the necessary
 quorum shall be one or more Persons holding or representing by proxy at least one third of
 the issued Shares of the class (but so that if at any adjourned meeting of such holders a
 quorum as above defined is not present, those Members who are present shall form a quorum)
 and that any holder of Shares of the class present in person or by proxy may demand a poll.

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10.2 For
 the purposes of a separate class meeting, the Directors may treat two or more or all the
 classes of Shares as forming one class of Shares if the Directors consider that such class
 of Shares would be affected in the same way by the proposals under consideration, but in
 any other case shall treat them as separate classes of Shares.

10.3 The
 rights conferred upon the holders of the Shares of any class issued with preferred or other
 rights shall not, unless otherwise expressly provided by the terms of issue of the Shares
 of that class, be deemed to be varied by the creation or issue of further Shares ranking *pari passu* therewith or Shares issued with preferred or other rights, any variation
 of the rights conferred upon the holders of Shares of any other Class, or the redemption
 or purchase of any Shares of any Class by the Company.

11. **COMMISSION ON SALES OF SHARES** 

The Company may, in so far as the Statute permits, pay a commission to any Person in consideration of his subscribing or agreeing to subscribe (whether absolutely or conditionally) or procuring or agreeing to procure subscriptions (whether absolutely or conditionally) for any Shares. Such commissions may be satisfied by the payment of cash and/or the issue of fully or partly paid-up Shares. The Company may also on any issue of Shares pay such brokerage as may be lawful.

12. **NON-RECOGNITION OF TRUSTS** 

The Company shall not be bound by or compelled to recognise in any way (even when notified) any equitable, contingent, future or partial interest in any Share, or (except only as is otherwise provided by the Articles or the Statute) any other rights in respect of any Share other than an absolute right to the entirety thereof in the holder.

13. **LIEN ON SHARES** 

13.1 The
 Company shall have a first and paramount lien on all Shares (whether fully paid-up or not)
 registered in the name of a Member (whether solely or jointly with others) for all debts,
 liabilities or engagements to or with the Company (whether presently payable or not) by such
 Member or his estate, either alone or jointly with any other Person, whether a Member or
 not, but the Directors may at any time declare any Share to be wholly or in part exempt from
 the provisions of this Article. The registration of a transfer of any such Share shall operate
 as a waiver of the Company's lien thereon. The Company's lien on a Share shall
 also extend to any amount payable in respect of that Share.

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13.2 The
 Company may sell, in such manner as the Directors think fit, any Shares on which the Company
 has a lien, if a sum in respect of which the lien exists is presently payable, and is not
 paid within fourteen clear days after notice has been received or deemed to have been received
 by the holder of the Shares, or to the Person entitled to it in consequence of the death
 or bankruptcy of the holder, demanding payment and stating that if the notice is not complied
 with the Shares may be sold.

13.3 To
 give effect to any such sale the Directors may authorise any Person to execute an instrument
 of transfer of the Shares sold to, or in accordance with the directions of, the purchaser.
 The purchaser or his nominee shall be registered as the holder of the Shares comprised in
 any such transfer, and he shall not be bound to see to the application of the purchase money,
 nor shall his title to the Shares be affected by any irregularity or invalidity in the sale
 or the exercise of the Company's power of sale under the Articles.

13.4 The
 net proceeds of such sale after payment of costs, shall be applied in payment of such part
 of the amount in respect of which the lien exists as is presently payable and any balance
 shall (subject to a like lien for sums not presently payable as existed upon the Shares before
 the sale) be paid to the Person entitled to the Shares at the date of the sale.

14. **CALLS ON SHARES** 

14.1 Subject
 to the terms of the allotment and issue of any Shares, the Directors may make calls upon
 the Members in respect of any monies unpaid on their Shares (whether in respect of par value
 or premium), and each Member shall (subject to receiving at least fourteen clear days'
 notice specifying the time or times of payment) pay to the Company at the time or times so
 specified the amount called on the Shares. A call may be revoked or postponed, in whole or
 in part, as the Directors may determine. A call may be required to be paid by instalments.
 A Person upon whom a call is made shall remain liable for calls made upon him notwithstanding
 the subsequent transfer of the Shares in respect of which the call was made.

14.2 A
 call shall be deemed to have been made at the time when the resolution of the Directors authorising
 such call was passed.

14.3 The
 joint holders of a Share shall be jointly and severally liable to pay all calls in respect
 thereof.

14.4 If
 a call remains unpaid after it has become due and payable, the Person from whom it is due
 shall pay interest on the amount unpaid from the day it became due and payable until it is
 paid at such rate as the Directors may determine (and in addition all expenses that have
 been incurred by the Company by reason of such non-payment), but the Directors may waive
 payment of the interest or expenses wholly or in part.

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14.5 An
 amount payable in respect of a Share on issue or allotment or at any fixed date, whether
 on account of the par value of the Share or premium or otherwise, shall be deemed to be a
 call and if it is not paid all the provisions of the Articles shall apply as if that amount
 had become due and payable by virtue of a call.

14.6 The
 Directors may issue Shares with different terms as to the amount and times of payment of
 calls, or the interest to be paid.

14.7 The
 Directors may, if they think fit, receive an amount from any Member willing to advance all
 or any part of the monies uncalled and unpaid upon any Shares held by him, and may (until
 the amount would otherwise become payable) pay interest at such rate as may be agreed upon
 between the Directors and the Member paying such amount in advance.

14.8 No
 such amount paid in advance of calls shall entitle the Member paying such amount to any portion
 of a Dividend or other distribution payable in respect of any period prior to the date upon
 which such amount would, but for such payment, become payable.

15. **FORFEITURE OF SHARES** 

15.1 If
 a call or instalment of a call remains unpaid after it has become due and payable the Directors
 may give to the Person from whom it is due not less than fourteen clear days' notice
 requiring payment of the amount unpaid together with any interest which may have accrued
 and any expenses incurred by the Company by reason of such non-payment. The notice shall
 specify where payment is to be made and shall state that if the notice is not complied with
 the Shares in respect of which the call was made will be liable to be forfeited.

15.2 If
 the notice is not complied with, any Share in respect of which it was given may, before the
 payment required by the notice has been made, be forfeited by a resolution of the Directors.
 Such forfeiture shall include all Dividends, other distributions or other monies payable
 in respect of the forfeited Share and not paid before the forfeiture.

15.3 A
 forfeited Share may be sold, re-allotted or otherwise disposed of on such terms and in such
 manner as the Directors think fit and at any time before a sale, re-allotment or disposition
 the forfeiture may be cancelled on such terms as the Directors think fit. Where for the purposes
 of its disposal a forfeited Share is to be transferred to any Person the Directors may authorise
 some Person to execute an instrument of transfer of the Share in favour of that Person.

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15.4 A
 Person any of whose Shares have been forfeited shall cease to be a Member in respect of them
 and shall surrender to the Company for cancellation the certificate for the Shares forfeited
 and shall remain liable to pay to the Company all monies which at the date of forfeiture
 were payable by him to the Company in respect of those Shares together with interest at such
 rate as the Directors may determine, but his liability shall cease if and when the Company
 shall have received payment in full of all monies due and payable by him in respect of those
 Shares.

15.5 A
 certificate in writing under the hand of one Director or officer of the Company that a Share
 has been forfeited on a specified date shall be conclusive evidence of the facts stated in
 it as against all Persons claiming to be entitled to the Share. The certificate shall (subject
 to the execution of an instrument of transfer) constitute a good title to the Share and the
 Person to whom the Share is sold or otherwise disposed of shall not be bound to see to the
 application of the purchase money, if any, nor shall his title to the Share be affected by
 any irregularity or invalidity in the proceedings in reference to the forfeiture, sale or
 disposal of the Share.

15.6 The
 provisions of the Articles as to forfeiture shall apply in the case of non-payment of any
 sum which, by the terms of issue of a Share, becomes payable at a fixed time, whether on
 account of the par value of the Share or by way of premium as if it had been payable by virtue
 of a call duly made and notified.

16. **TRANSMISSION OF SHARES** 

16.1 If
 a Member dies, the survivor or survivors (where he was a joint holder), or his legal personal
 representatives (where he was a sole holder), shall be the only Persons recognised by the
 Company as having any title to his Shares. The estate of a deceased Member is not thereby
 released from any liability in respect of any Share, for which he was a joint or sole holder.

16.2 Any
 Person becoming entitled to a Share in consequence of the death or bankruptcy or liquidation
 or dissolution of a Member (or in any other way than by transfer) may, upon such evidence
 being produced as may be required by the Directors, elect, by a notice in writing sent by
 him to the Company, either to become the holder of such Share or to have some Person nominated
 by him registered as the holder of such Share. If he elects to have another Person registered
 as the holder of such Share he shall sign an instrument of transfer of that Share to that
 Person. The Directors shall, in either case, have the same right to decline or suspend registration
 as they would have had in the case of a transfer of the Share by the relevant Member before
 his death or bankruptcy or liquidation or dissolution or any other case than by transfer,
 as the case may be.

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16.3 A
 Person becoming entitled to a Share by reason of the death or bankruptcy or liquidation or
 dissolution of a Member (or in any other case than by transfer) shall be entitled to the
 same Dividends, other distributions and other advantages to which he would be entitled if
 he were the holder of such Share. However, he shall not, before becoming a Member in respect
 of a Share, be entitled in respect of it to exercise any right conferred by membership in
 relation to general meetings of the Company and the Directors may at any time give notice
 requiring any such Person to elect either to be registered himself or to have some Person
 nominated by him be registered as the holder of the Share (but the Directors shall, in either
 case, have the same right to decline or suspend registration as they would have had in the
 case of a transfer of the Share by the relevant Member before his death or bankruptcy or
 liquidation or dissolution or any other case than by transfer, as the case may be). If the
 notice is not complied with within ninety days of being received or deemed to be received
 (as determined pursuant to the Articles) the Directors may thereafter withhold payment of
 all Dividends, other distributions, bonuses or other monies payable in respect of the Share
 until the requirements of the notice have been complied with.

17. **SHARE RIGHTS** 

With the exception that the holder of a Class B Share shall have the conversion rights referred to in Article 18 and except as otherwise specified in the Articles or required by law, the rights attaching to all Class A Shares and Class B Shares shall rank *pari passu* in all respects, and the Class A Shares and Class B Shares shall vote together as a single class on all matters.

18. **CLASS B SHARE CONVERSION** 

18.1 Class
 B Shares shall automatically convert into Class A Shares on a one-for-one basis (the **Initial Conversion Ratio**): (a) at any time and from time to time at the option of the holder
 thereof; and (b) automatically at the time of the closing of the initial Business Combination.

18.2 Notwithstanding
 the Initial Conversion Ratio, in the case that additional Class A Shares or any Equity-linked
 Securities are issued or deemed issued by the Company in excess of the amounts offered in
 the IPO and related to the closing of the initial Business Combination, all Class B Shares
 in issue shall automatically convert into Class A Shares at the time of the closing of the
 initial Business Combination at an adjusted ratio so that the number of Class A Shares issuable
 upon conversion of all Class B Shares will equal, in the aggregate, 20 per cent of the sum
 of: (a) the total number of Class A Shares and Class B Shares in issue upon completion of
 the IPO, plus (b) the total number of Class A Shares issued or deemed issued or issuable
 upon conversion or exercise of any Equity-linked Securities or rights issued, or deemed issued,
 by the Company in connection with or in relation to the consummation of the initial Business
 Combination, excluding any Class A Shares or Equity-linked Securities exercisable for or
 convertible into Class A Shares issued, deemed issued, or to be issued, to any seller in
 the initial Business Combination and any private placement warrants issued to the Sponsor,
 its affiliates or any Director or officer of the Company upon conversion of working capital
 loans made to the Company.

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18.3 Notwithstanding
 anything to the contrary contained herein, the foregoing adjustment to the Initial Conversion
 Ratio may be waived as to any particular issuance or deemed issuance of additional Class
 A Shares or Equity-linked Securities by the written consent or agreement of holders of a
 majority of the Class B Shares then in issue consenting or agreeing separately as a separate
 class in the manner provided in Article 10.

18.4 The
 foregoing conversion ratio shall also be adjusted to account for any share capitalisations,
 subdivision (by share split, subdivision, exchange, rights issue, reclassification, recapitalisation
 or otherwise) or combination (by reverse share split, share consolidation, exchange, reclassification,
 recapitalisation or otherwise) or similar reclassification or recapitalisation of the Class
 A Shares in issue into a greater or lesser number of shares occurring after the original
 filing of the Articles without a proportionate and corresponding share capitalisation, subdivision,
 combination or similar reclassification or recapitalisation of the Class B Shares in issue.

18.5 Each
 Class B Share shall convert into its pro rata number of Class A Shares pursuant to this Article.
 The pro rata share for each holder of Class B Shares will be determined as follows: each
 Class B Share shall convert into such number of Class A Shares as is equal to the product
 of 1 multiplied by a fraction, the numerator of which shall be the total number of Class
 A Shares into which all of the Class B Shares in issue shall be converted pursuant to this
 Article and the denominator of which shall be the total number of Class B Shares in issue
 at the time of conversion.

18.6 References
 in this Article to **converted**, **conversion** or **exchange** shall mean the
 compulsory redemption without notice of Class B Shares of any Member and, on behalf of such
 Members, automatic application of such redemption proceeds in paying for such new Class A
 Shares into which the Class B Shares have been converted or exchanged at a price per Class
 B Share necessary to give effect to a conversion or exchange calculated on the basis that
 the Class A Shares to be issued as part of the conversion or exchange will be issued at par.
 The Class A Shares to be issued on an exchange or conversion shall be registered in the name
 of such Member or in such name as the Member may direct.

18.7 Notwithstanding
 anything to the contrary in this Article, in no event may any Class B Share convert into
 Class A Shares at a ratio that is less than one-for-one.

19. **AMENDMENTS OF MEMORANDUM AND ARTICLES OF ASSOCIATION AND ALTERATION OF CAPITAL** 

19.1 The
 Company may by Ordinary Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) increase
 its share capital by such sum to be divided into Shares of such classes and amount and with
 such rights, priorities and privileges annexed thereto as the Ordinary Resolution shall prescribe;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) consolidate
 and divide all or any of its share capital into Shares of larger amount than its existing
 Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) convert
 all or any of its paid-up Shares into stock, and reconvert that stock into paid- up Shares
 of any denomination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) by
 subdivision of its existing Shares or any of them divide the whole or any part of its share
 capital into Shares of smaller amount than is fixed by the Memorandum or into Shares without
 par value; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) cancel
 any Shares that at the date of the passing of the Ordinary Resolution have not been taken
 or agreed to be taken by any Person and diminish the amount of its share capital by the amount
 of the Shares so cancelled.

19.2 All
 new Shares created in accordance with the provisions of the preceding Article shall be subject
 to the same provisions of the Articles with reference to the payment of calls, liens, transfer,
 transmission, forfeiture and otherwise as the Shares in the original share capital.

19.3 Subject
 to the provisions of the Statute and the provisions of the Articles as regards the matters
 to be dealt with by Ordinary Resolution, the Company may by Special Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) change
 its name;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) alter
 or add to the Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) alter
 or add to the Memorandum with respect to any objects, powers or other matters specified therein;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) reduce
 its share capital or any capital redemption reserve fund.

20. **OFFICES AND PLACE OF BUSINESS** 

Subject to the provisions of the Statute, the Company may by resolution of the Directors change the location of its Registered Office. The Company may, in addition to its Registered Office, maintain such other offices or places of business as the Directors determine.

21. **GENERAL MEETINGS** 

21.1 All
 general meetings other than annual general meetings shall be called extraordinary general
 meetings.

21.2 The
 Company may, but shall not (unless required by the Statute or, for so long as any Shares
 are traded on a Designated Stock Exchange, the Designated Stock Exchange) be obliged to,
 in each year hold a general meeting as its annual general meeting, and shall specify the
 meeting as such in the notices calling it. Any annual general meeting shall be held at such
 time and place as the Directors shall appoint. At these meetings the report of the Directors
 (if any) shall be presented.

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21.3 The
 Directors may, whenever they think fit, call general meetings, and they shall on a Members'
 requisition forthwith proceed to convene an extraordinary general meeting of the Company.

21.4 A
 Members' requisition is a requisition of Members holding at the date of deposit of
 the requisition not less than ten per cent in par value of the issued Shares which as at
 that date carry the right to vote at general meetings of the Company.

21.5 The
 Members' requisition must state the objects of the meeting and must be signed by the
 requisitionists and deposited at the Registered Office, and may consist of several documents
 in like form each signed by one or more requisitionists.

21.6 If
 there are no Directors as at the date of the deposit of the Members' requisition or
 if the Directors do not within twenty-one days from the date of the deposit of the Members'
 requisition duly proceed to convene a general meeting to be held within a further twenty-one
 days, the requisitionists, or any of them representing more than one-half of the total voting
 rights of all of the requisitionists, may themselves convene a general meeting, but any meeting
 so convened shall be held no later than the day which falls three months after the expiration
 of the said twenty-one day period.

21.7 A
 general meeting convened as aforesaid by requisitionists shall be convened in the same manner
 as nearly as possible as that in which general meetings are to be convened by Directors.

22. **NOTICE OF GENERAL MEETINGS** 

22.1 At
 least five clear days' notice shall be given of any general meeting. Every notice shall
 specify the place, the day and the hour of the meeting and the general nature of the business
 to be conducted at the general meeting and shall be given in the manner hereinafter mentioned
 or in such other manner if any as may be prescribed by the Company by Ordinary Resolution
 to such Persons as are, under the Articles, entitled to receive such notices from the Company
 , provided that a general meeting of the Company shall, whether or not the notice specified
 in this Article has been given and whether or not the provisions of the Articles regarding
 general meetings have been complied with, be deemed to have been duly convened if it is so
 agreed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in
 the case of an annual general meeting, by all of the Members entitled to attend and vote
 thereat; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 the case of an extraordinary general meeting, by a majority in number of the Members having
 a right to attend and vote at the meeting, together holding not less than ninety-five per
 cent in par value of the Shares giving that right.

22.2 The
 accidental omission to give notice of a general meeting to, or the non-receipt of notice
 of a general meeting by, any Person entitled to receive such notice shall not invalidate
 the proceedings of that general meeting.

23. **PROCEEDINGS AT GENERAL MEETINGS** 

23.1 No
 business shall be transacted at any general meeting unless a quorum is present. Two Members
 being individuals present in person or by proxy or if a corporation or other non- natural
 person by its duly authorised representative or proxy shall be a quorum unless the Company
 has only one Member entitled to vote at such general meeting in which case the quorum shall
 be that one Member present in person or by proxy or (in the case of a corporation or other
 non-natural person) by its duly authorised representative or proxy.

23.2 A
 Person may participate at a general meeting by conference telephone, video, a virtual platform
 or other communications equipment by means of which all the Persons participating in the
 meeting can communicate with each other. Participation by a Person in a general meeting in
 this manner is treated as presence in person at that meeting.

23.3 A
 resolution (including a Special Resolution) in writing (in one or more counterparts) signed
 by or on behalf of all of the Members for the time being entitled to receive notice of and
 to attend and vote at general meetings (or, being corporations or other non-natural persons,
 signed by their duly authorised representatives) shall be as valid and effective as if the
 resolution had been passed at a general meeting of the Company duly convened and held.

23.4 If
 a quorum is not present within half an hour from the time appointed for the meeting to commence
 or if during such a meeting a quorum ceases to be present, the meeting, if convened upon
 a Members' requisition, shall be dissolved and in any other case it shall stand adjourned
 to the same day in the next week at the same time and place or to such other day, time and/or
 place as the Directors may determine, and if at the adjourned meeting a quorum is not present
 within half an hour from the time appointed for the meeting to commence, the Members present
 shall be a quorum.

23.5 The
 Directors may, at any time prior to the time appointed for the meeting to commence, appoint
 any Person to act as chairman of a general meeting of the Company or, if the Directors do
 not make any such appointment, the chairman, if any, of the board of Directors shall preside
 as chairman at such general meeting. If there is no such chairman, or if he shall not be
 present within fifteen minutes after the time appointed for the meeting to commence, or is
 unwilling to act, the Directors present shall elect one of their number to be chairman of
 the meeting.

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23.6 If
 no Director is willing to act as chairman or if no Director is present within fifteen minutes
 after the time appointed for the meeting to commence, the Members present shall choose one
 of their number to be chairman of the meeting.

23.7 The
 chairman may adjourn a meeting from time to time and from place to place either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) with
 the consent of a meeting at which a quorum is present (and shall if so directed by the meeting
 by Ordinary Resolution); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) without
 the consent of such meeting if, in his sole opinion, he considers it necessary to do so to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) secure
 the orderly conduct or proceedings of the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) give
 all Persons present in person or by proxy and having the right to speak and/or vote at such
 meeting, the ability to do so,

but no business shall be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place.

23.8 When
 a general meeting is adjourned for thirty days or more, notice of the adjourned meeting shall
 be given as in the case of an original meeting. Otherwise it shall not be necessary to give
 any such notice of an adjourned meeting.

23.9 A
 resolution put to the vote of the meeting shall be decided on a show of hands unless before,
 or on the declaration of the result of, the show of hands, the chairman demands a poll, or
 any Member or Members collectively present in person or by proxy (or in the case of a corporation
 or other non-natural person, by its duly authorised representative or proxy) and holding
 at least ten per cent in par value of the Shares giving a right to attend and vote at the
 meeting demand a poll.

23.10 Unless
 a poll is duly demanded and the demand is not withdrawn, a declaration by the chairman that
 a resolution has been carried or carried unanimously, or by a particular majority, or lost
 or not carried by a particular majority, an entry to that effect in the minutes of the proceedings
 of the meeting shall be conclusive evidence of that fact without proof of the number or proportion
 of the votes recorded in favour of or against such resolution.

23.11 The
 demand for a poll may be withdrawn.

23.12 A
 poll demanded on the election of a chairman or on a question of adjournment shall be taken
 forthwith. A poll demanded on any other question shall be taken at such date, time and place
 as the chairman of the general meeting directs, and the result of the poll shall be deemed
 to be the resolution of the general meeting at which the poll was demanded. Any business
 other than that upon which a poll has been demanded or is contingent thereon may proceed
 pending the taking of the poll.

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23.13 In
 the case of an equality of votes, whether on a show of hands or on a poll, the chairman shall
 be entitled to a second or casting vote.

24. **VOTES OF MEMBERS** 

24.1 Subject
 to any rights or restrictions attached to any Shares, on a show of hands every Member who
 (being an individual) is present in person or by proxy or, if a corporation or other non-natural
 person is present by its duly authorised representative or by proxy, shall have one vote
 and on a poll every Member present in any such manner shall have one vote for every Share
 of which he is the holder.

24.2 In
 the case of joint holders the vote of the senior holder who tenders a vote, whether in person
 or by proxy (or, in the case of a corporation or other non-natural person, by its duly authorised
 representative or proxy), shall be accepted to the exclusion of the votes of the other joint
 holders, and seniority shall be determined by the order in which the names of the holders
 stand in the Register of Members.

24.3 A
 Member of unsound mind, or in respect of whom an order has been made by any court, having
 jurisdiction in lunacy, may vote, whether on a show of hands or on a poll, by his committee,
 receiver, curator bonis, or other Person on such Member's behalf appointed by that
 court, and any such committee, receiver, curator bonis or other Person may vote by proxy.

24.4 No
 Person shall be entitled to vote at any general meeting unless he is registered as a Member
 on the record date for such meeting nor unless all calls or other monies then payable by
 him in respect of Shares have been paid.

24.5 No
 objection shall be raised as to the qualification of any voter except at the general meeting
 or adjourned general meeting at which the vote objected to is given or tendered and every
 vote not disallowed at the meeting shall be valid. Any objection made in due time in accordance
 with this Article shall be referred to the chairman whose decision shall be final and conclusive.

24.6 On
 a poll or on a show of hands votes may be cast either personally or by proxy (or in the case
 of a corporation or other non-natural person by its duly authorised representative or proxy).
 A Member may appoint more than one proxy or the same proxy under one or more instruments
 to attend and vote at a meeting. Where a Member appoints more than one proxy the instrument
 of proxy shall state which proxy is entitled to vote on a show of hands and shall specify
 the number of Shares in respect of which each proxy is entitled to exercise the related votes.

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24.7 On
 a poll, a Member holding more than one Share need not cast the votes in respect of his Shares
 in the same way on any resolution and therefore may vote a Share or some or all such Shares
 either for or against a resolution and/or abstain from voting a Share or some or all of the
 Shares and, subject to the terms of the instrument appointing him, a proxy appointed under
 one or more instruments may vote a Share or some or all of the Shares in respect of which
 he is appointed either for or against a resolution and/or abstain from voting a Share or
 some or all of the Shares in respect of which he is appointed.

25. **PROXIES** 

25.1 The
 instrument appointing a proxy shall be in writing and shall be executed under the hand of
 the appointor or of his attorney duly authorised in writing, or, if the appointor is a corporation
 or other non-natural person, under the hand of its duly authorised representative. A proxy
 need not be a Member.

25.2 The
 Directors may, in the notice convening any meeting or adjourned meeting, or in an instrument
 of proxy sent out by the Company, specify the manner by which the instrument appointing a
 proxy shall be deposited and the place and the time (being not later than the time appointed
 for the commencement of the meeting or adjourned meeting to which the proxy relates) at which
 the instrument appointing a proxy shall be deposited. In the absence of any such direction
 from the Directors in the notice convening any meeting or adjourned meeting or in an instrument
 of proxy sent out by the Company, the instrument appointing a proxy shall be deposited physically
 at the Registered Office not less than 48 hours before the time appointed for the meeting
 or adjourned meeting to commence at which the Person named in the instrument proposes to
 vote.

25.3 The
 chairman may in any event at his discretion declare that an instrument of proxy shall be
 deemed to have been duly deposited. An instrument of proxy that is not deposited in the manner
 permitted, or which has not been declared to have been duly deposited by the chairman, shall
 be invalid.

25.4 The
 instrument appointing a proxy may be in any usual or common form (or such other form as the
 Directors may approve) and may be expressed to be for a particular meeting or any adjournment
 thereof or generally until revoked. An instrument appointing a proxy shall be deemed to include
 the power to demand or join or concur in demanding a poll.

25.5 Votes
 given in accordance with the terms of an instrument of proxy shall be valid notwithstanding
 the previous death or insanity of the principal or revocation of the proxy or of the authority
 under which the proxy was executed, or the transfer of the Share in respect of which the
 proxy is given unless notice in writing of such death, insanity, revocation or transfer was
 received by the Company at the Registered Office before the commencement of the general meeting,
 or adjourned meeting at which it is sought to use the proxy.

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26. **CORPORATE MEMBERS** 

Any corporation or other non-natural person which is a Member may in accordance with its constitutional documents, or in the absence of such provision by resolution of its directors or other governing body, authorise such Person as it thinks fit to act as its representative at any meeting of the Company or of any class of Members, and the Person so authorised shall be entitled to exercise the same powers on behalf of the corporation which he represents as the corporation could exercise if it were an individual Member.

27. **SHARES THAT MAY NOT BE VOTED** 

Shares in the Company that are beneficially owned by the Company shall not be voted, directly or indirectly, at any meeting and shall not be counted in determining the total number of outstanding Shares at any given time.

28. **DIRECTORS** 

There shall be a board of Directors consisting of not less than one Person (exclusive of alternate Directors), provided however that the Company may by Ordinary Resolution increase or reduce the limits in the number of Directors. The first Directors of the Company shall be determined in writing by, or appointed by a resolution of, the Subscriber.

29. **POWERS OF DIRECTORS** 

29.1 Subject
 to the provisions of the Statute, the Memorandum and the Articles and to any directions given
 by Special Resolution, the business of the Company shall be managed by the Directors who
 may exercise all the powers of the Company. No alteration of the Memorandum or Articles and
 no such direction shall invalidate any prior act of the Directors which would have been valid
 if that alteration had not been made or that direction had not been given. A duly convened
 meeting of the Directors at which a quorum is present may exercise all powers exercisable
 by the Directors.

29.2 All
 cheques, promissory notes, drafts, bills of exchange and other negotiable or transferable
 instruments and all receipts for monies paid to the Company shall be signed, drawn, accepted,
 endorsed or otherwise executed, as the case may be, in such manner as the Directors shall
 determine by resolution.

29.3 The
 Directors on behalf of the Company may pay a gratuity or pension or allowance on retirement
 to any Director who has held any other salaried office or place of profit with the Company
 or to his widow or dependants and may make contributions to any fund and pay premiums for
 the purchase or provision of any such gratuity, pension or allowance.

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29.4 The
 Directors may exercise all the powers of the Company to borrow money and to mortgage or charge
 its undertaking, property and assets (present and future) and uncalled capital or any part
 thereof and to issue debentures, debenture stock, mortgages, bonds and other such securities
 whether outright or as security for any debt, liability or obligation of the Company or of
 any third party.

29.5 The
 Directors shall have the authority to present a winding up petition on behalf of the Company
 without the sanction of a resolution passed by the Company in general meeting.

30. **APPOINTMENT AND REMOVAL OF DIRECTORS** 

30.1 The
 Company may by Ordinary Resolution appoint any Person to be a Director or may by Ordinary
 Resolution remove any Director.

30.2 The
 Directors may appoint any Person to be a Director, either to fill a vacancy or as an additional
 Director, provided that the appointment does not cause the number of Directors to exceed
 any number fixed by or in accordance with the Articles as the maximum number of Directors.

31. **VACATION OF OFFICE OF DIRECTOR** 

The office of a Director shall be vacated if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Director gives notice in writing to the Company that he resigns the office of Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Director absents himself (for the avoidance of doubt, without being represented by proxy
 or an alternate Director appointed by him) from three consecutive meetings of the board of
 Directors without special leave of absence from the Directors, and the Directors pass a resolution
 that he has by reason of such absence vacated office; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 Director dies, becomes bankrupt or makes any arrangement or composition with his creditors
 generally; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 Director is found to be or becomes of unsound mind; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all
 of the other Directors (being not less than two in number) determine that he should be removed
 as a Director, either by a resolution passed by all of the other Directors at a meeting of
 the Directors duly convened and held in accordance with the Articles or by a resolution in
 writing signed by all of the other Directors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the
 Director is removed from office pursuant to any other provision of the Articles.

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32. **PROCEEDINGS OF DIRECTORS** 

32.1 The
 quorum for the transaction of the business of the Directors may be fixed by the Directors,
 and unless so fixed shall be two if there are two or more Directors, and shall be one if
 there is only one Director. A Person who holds office as an alternate Director shall, if
 his appointor is not present, be counted in the quorum. A Director who also acts as an alternate
 Director shall, if his appointor is not present, count twice towards the quorum.

32.2 Subject
 to the provisions of the Articles, the Directors may regulate their proceedings as they think
 fit. Questions arising at any meeting of the Directors shall be decided by a majority of
 votes. In the case of an equality of votes, the chairman shall have a second or casting vote.
 A Director who is also an alternate Director shall be entitled in the absence of his appointor
 to a separate vote on behalf of his appointor in addition to his own vote.

32.3 A
 Person may participate in a meeting of the Directors or any committee of Directors by conference
 telephone or other communications equipment by means of which all the Persons participating
 in the meeting can communicate with each other at the same time. Participation by a Person
 in a meeting in this manner is treated as presence in person at that meeting. Unless otherwise
 determined by the Directors the meeting shall be deemed to be held at the place where the
 chairman is located at the start of the meeting.

32.4 A
 resolution in writing (in one or more counterparts) signed by all the Directors or all the
 members of a committee of the Directors or, in the case of a resolution in writing relating
 to the removal of any Director or the vacation of office by any Director, all of the Directors
 other than the Director who is the subject of such resolution (an alternate Director being
 entitled to sign such a resolution on behalf of his appointor and if such alternate Director
 is also a Director, being entitled to sign such resolution both on behalf of his appointer
 and in his capacity as a Director) shall be as valid and effectual as if it had been passed
 at a meeting of the Directors, or committee of Directors as the case may be, duly convened
 and held.

32.5 A
 Director or alternate Director may, or other officer of the Company on the direction of a
 Director or alternate Director shall, call a meeting of the Directors by at least two days'
 notice in writing to every Director and alternate Director which notice shall set forth the
 general nature of the business to be considered unless notice is waived by all the Directors
 (or their alternates) either at, before or after the meeting is held. To any such notice
 of a meeting of the Directors all the provisions of the Articles relating to the giving of
 notices by the Company to the Members shall apply *mutatis mutandis*.

32.6 The
 continuing Directors (or a sole continuing Director, as the case may be) may act notwithstanding
 any vacancy in their body, but if and so long as their number is reduced below the number
 fixed by or pursuant to the Articles as the necessary quorum of Directors the continuing
 Directors or Director may act for the purpose of increasing the number of Directors to be
 equal to such fixed number, or of summoning a general meeting of the Company, but for no
 other purpose.

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32.7 The
 Directors may elect a chairman of their board and determine the period for which he is to
 hold office, but if no such chairman is elected, or if at any meeting the chairman is not
 present within five minutes after the time appointed for the meeting to commence, the Directors
 present may choose one of their number to be chairman of the meeting.

32.8 Subject
 to any regulations imposed on it by the Directors, including where the Directors have designated
 a chairman of the committee, a committee appointed by the Directors may elect a chairman
 of its meetings and determine the period for which he is to hold office; but if no such chairman
 is elected, or if at any meeting the chairman is not present within five minutes after the
 time appointed for the meeting to commence, the committee members present may choose one
 of their number to be chairman of the meeting.

32.9 A
 committee appointed by the Directors may meet and adjourn as it thinks proper. Subject to
 any regulations imposed on it by the Directors, questions arising at any committee meeting
 shall be determined by a majority of votes of the committee members present and in case of
 an equality of votes the chairman shall have a second or casting vote.

32.10 All
 acts done by any meeting of the Directors or of a committee of the Directors (including any
 Person acting as an alternate Director) shall, notwithstanding that it is afterwards discovered
 that there was some defect in the appointment of any Director or alternate Director, and/or
 that they or any of them were disqualified, and/or had vacated their office and/or were not
 entitled to vote, be as valid as if every such Person had been duly appointed and/or not
 disqualified to be a Director or alternate Director and/or had not vacated their office and/or
 had been entitled to vote, as the case may be.

32.11 A
 Director but not an alternate Director may be represented at any meetings of the board of
 Directors by a proxy appointed in writing by him. The proxy shall count towards the quorum
 and the vote of the proxy shall for all purposes be deemed to be that of the appointing Director.

33. **PRESUMPTION OF ASSENT** 

A Director or alternate Director who is present at a meeting of the board of Directors at which action on any Company matter is taken shall be presumed to have assented to the action taken unless his dissent shall be entered in the minutes of the meeting or unless he shall file his written dissent from such action with the Person acting as the chairman or secretary of the meeting before the adjournment thereof or shall forward such dissent by registered post to such Person immediately after the adjournment of the meeting. Such right to dissent shall not apply to a Director or alternate Director who voted in favour of such action.

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34. **DIRECTORS' INTERESTS** 

34.1 A
 Director or alternate Director may hold any other office or place of profit under the Company
 (other than the office of Auditor) in conjunction with his office of Director for such period
 and on such terms as to remuneration and otherwise as the Directors may determine.

34.2 A
 Director or alternate Director may act by himself or by, through or on behalf of his firm,
 in a professional capacity for the Company and he or his firm shall be entitled to remuneration
 for professional services as if he were not a Director or alternate Director.

34.3 A
 Director or alternate Director may be or become a director or other officer of or otherwise
 interested in any company promoted by the Company or in which the Company may be interested
 as a shareholder, a contracting party or otherwise, and no such Director or alternate Director
 shall be accountable to the Company for any remuneration or other benefits received by him
 as a director or officer of, or from his interest in, such other company.

34.4 No
 Person shall be disqualified from the office of Director or alternate Director or prevented
 by such office from contracting with the Company, either as vendor, purchaser or otherwise,
 nor shall any such contract or any contract or transaction entered into by or on behalf of
 the Company in which any Director or alternate Director shall be in any way interested be
 or be liable to be avoided, nor shall any Director or alternate Director so contracting or
 being so interested be liable to account to the Company for any profit realised by or arising
 in connection with any such contract or transaction by reason of such Director or alternate
 Director holding office or of the fiduciary relationship thereby established. A Director
 (or his alternate Director in his absence) shall be at liberty to vote in respect of any
 contract or transaction in which he is interested provided that the nature of the interest
 of any Director or alternate Director in any such contract or transaction shall be disclosed
 by him at or prior to its consideration and any vote thereon.

34.5 A
 general notice that a Director or alternate Director is a shareholder, director, officer
 or employee of any specified firm or company and is to be regarded as interested in any transaction
 with such firm or company shall be sufficient disclosure for the purposes of voting on a
 resolution in respect of a contract or transaction in which he has an interest, and after
 such general notice it shall not be necessary to give special notice relating to any particular
 transaction.

35. **MINUTES** 

35.1 The
 Directors shall cause minutes to be made in books kept for the purpose of recording all appointments
 of officers made by the Directors, all proceedings at meetings of the Company or the holders
 of any class of Shares and of the Directors, and of committees of the Directors, including
 the names of the Directors or alternate Directors present at each meeting.

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35.2 When
 the chairman of a meeting of the Directors or of a committee of the Directors signs the minutes
 of such meeting the same shall be deemed to have been duly held notwithstanding that all
 the Directors have not actually come together or that there may have been a technical defect
 in the proceedings.

36. **DELEGATION OF DIRECTORS' POWERS** 

36.1 The
 Directors may delegate any of their powers, authorities and discretions, including the power
 to sub-delegate, to any committee consisting of one or more Directors; any committee so formed
 shall in the exercise of the powers so delegated conform to any conditions that may be imposed
 on it by the Directors. The Directors may also delegate to any managing director or any Director
 holding any other executive office such of their powers, authorities and discretions as they
 consider desirable to be exercised by him provided that an alternate Director may not act
 as managing director and the appointment of a managing director shall be revoked forthwith
 if he ceases to be a Director. Any such delegation may be made subject to any conditions
 the Directors may impose and either collaterally with or to the exclusion of their own powers
 and any such delegation may be revoked or altered by the Directors. Subject to any such conditions
 that may be imposed by the Directors, the proceedings of a committee of Directors shall be
 governed by the Articles regulating the proceedings of Directors, so far as they are capable
 of applying.

36.2 The
 Directors may establish any committees, local boards or agencies or appoint any Person to
 be a manager or agent for managing the affairs of the Company and may appoint any Person
 to be a member of such committees, local boards or agencies. Any such appointment may be
 made subject to any conditions the Directors may impose, and either collaterally with or
 to the exclusion of their own powers and any such appointment may be revoked or altered by
 the Directors. Subject to any such conditions that may be imposed by the Directors, the proceedings
 of any such committee, local board or agency shall be governed by the Articles regulating
 the proceedings of Directors, so far as they are capable of applying.

36.3 The
 Directors may adopt formal written charters for committees and, if so adopted, shall review
 and assess the adequacy of such formal written charters on an annual basis.

36.4 The
 Directors may by power of attorney or otherwise appoint any Person to be the agent of the
 Company on such conditions as the Directors may determine, provided that the delegation is
 not to the exclusion of their own powers and may be revoked by the Directors at any time.

36.5 The
 Directors may by power of attorney or otherwise appoint any company, firm, Person or body
 of Persons, whether nominated directly or indirectly by the Directors, to be the attorney
 or authorised signatory of the Company for such purpose and with such powers, authorities
 and discretions (not exceeding those vested in or exercisable by the Directors under the
 Articles) and for such period and subject to such conditions as they may think fit, and any
 such powers of attorney or other appointment may contain such provisions for the protection
 and convenience of Persons dealing with any such attorneys or authorised signatories as the
 Directors may think fit and may also authorise any such attorney or authorised signatory
 to delegate all or any of the powers, authorities and discretions vested in him.

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36.6 The
 Directors may appoint such officers of the Company (including, for the avoidance of doubt
 and without limitation, any secretary) as they consider necessary on such terms, at such
 remuneration and to perform such duties, and subject to such provisions as to disqualification
 and removal as the Directors may think fit. Unless otherwise specified in the terms of his
 appointment, an officer of the Company may be removed by resolution of the Directors or Members.
 An officer of the Company may vacate his office at any time if he gives notice in writing
 to the Company that he resigns his office.

37. **ALTERNATE DIRECTORS** 

37.1 Any
 Director (but not an alternate Director) may by writing appoint any other Director, or any
 other Person willing to act, to be an alternate Director and by writing may remove from office
 an alternate Director so appointed by him.

37.2 An
 alternate Director shall be entitled to receive notice of all meetings of Directors and of
 all meetings of committees of Directors of which his appointor is a member, to attend and
 vote at every such meeting at which the Director appointing him is not personally present,
 to sign any written resolution of the Directors (except where such written resolution of
 the Directors have been signed by the appointing Director), and generally to perform all
 the functions of his appointor as a Director in his absence.

37.3 An
 alternate Director shall cease to be an alternate Director if his appointor ceases to be
 a Director.

37.4 Any
 appointment or removal of an alternate Director shall be by notice to the Company signed
 by the Director making or revoking the appointment or in any other manner approved by the
 Directors.

37.5 Subject
 to the provisions of the Articles, an alternate Director shall be deemed for all purposes
 to be a Director and shall alone be responsible for his own acts and defaults and shall not
 be deemed to be the agent of the Director appointing him.

38. **NO MINIMUM SHAREHOLDING** 

The Company in general meeting may fix a minimum shareholding required to be held by a Director, but unless and until such a shareholding qualification is fixed, a Director is not required to hold Shares.

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39. **REMUNERATION OF DIRECTORS** 

39.1 The
 remuneration to be paid to the Directors, if any, shall be such remuneration as the Directors
 shall determine. The Directors shall also be entitled to be paid all travelling, hotel and
 other expenses properly incurred by them in connection with their attendance at meetings
 of Directors or committees of Directors, or general meetings of the Company, or separate
 meetings of the holders of any class of Shares or debentures of the Company, or otherwise
 in connection with the business of the Company or the discharge of their duties as a Director,
 or to receive a fixed allowance in respect thereof as may be determined by the Directors,
 or a combination partly of one such method and partly the other.

39.2 The
 Directors may by resolution approve additional remuneration to any Director for any services
 which in the opinion of the Directors go beyond his ordinary routine work as a Director.
 Any fees paid to a Director who is also counsel, attorney or solicitor to the Company, or
 otherwise serves it in a professional capacity, shall be in addition to his remuneration
 as a Director.

40. **SEAL** 

40.1 The
 Company may, if the Directors so determine, have a Seal. The Seal shall only be used by the
 authority of the Directors or of a committee of the Directors authorised by the Directors.
 Every instrument to which the Seal has been affixed shall be signed by at least one Person
 who shall be either a Director or officer of the Company or other Person appointed by the
 Directors for the purpose.

40.2 The
 Company may have for use in any place or places outside the Cayman Islands a duplicate Seal
 or Seals each of which shall be a facsimile of the common Seal of the Company and, if the
 Directors so determine, with the addition on its face of the name of every place where it
 is to be used.

40.3 A
 Director or officer, representative or attorney of the Company may without further authority
 of the Directors affix the Seal over his signature alone to any document of the Company required
 to be authenticated by him under seal or to be filed with the Registrar of Companies in the
 Cayman Islands or elsewhere wheresoever.

41. **DIVIDENDS, DISTRIBUTIONS AND RESERVE** 

41.1 Subject
 to the Statute and this Article and except as otherwise provided by the rights attached to
 any Shares, the Directors may resolve to pay Dividends and other distributions on Shares
 in issue and authorise payment of the Dividends or other distributions out of the funds of
 the Company lawfully available therefor. A Dividend shall be deemed to be an interim Dividend
 unless the terms of the resolution pursuant to which the Directors resolve to pay such Dividend
 specifically state that such Dividend shall be a final Dividend. No Dividend or other distribution
 shall be paid except out of the realised or unrealised profits of the Company, out of the
 Share Premium Account or as otherwise permitted by law.

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41.2 Except
 as otherwise provided by the rights attached to any Shares, all Dividends and other distributions
 shall be paid according to the par value of the Shares that a Member holds. If any Share
 is issued on terms providing that it shall rank for Dividend as from a particular date, that
 Share shall rank for Dividend accordingly.

41.3 The
 Directors may deduct from any Dividend or other distribution payable to any Member all sums
 of money (if any) then payable by him to the Company on account of calls or otherwise.

41.4 The
 Directors may resolve that any Dividend or other distribution be paid wholly or partly by
 the distribution of specific assets and in particular (but without limitation) by the distribution
 of shares, debentures, or securities of any other company or in any one or more of such ways
 and where any difficulty arises in regard to such distribution, the Directors may settle
 the same as they think expedient and in particular may issue fractional Shares and may fix
 the value for distribution of such specific assets or any part thereof and may determine
 that cash payments shall be made to any Members upon the basis of the value so fixed in order
 to adjust the rights of all Members and may vest any such specific assets in trustees in
 such manner as may seem expedient to the Directors.

41.5 Except
 as otherwise provided by the rights attached to any Shares, Dividends and other distributions
 may be paid in any currency. The Directors may determine the basis of conversion for any
 currency conversions that may be required and how any costs involved are to be met.

41.6 The
 Directors may, before resolving to pay any Dividend or other distribution, set aside such
 sums as they think proper as a reserve or reserves which shall, at the discretion of the
 Directors, be applicable for any purpose of the Company and pending such application may,
 at the discretion of the Directors, be employed in the business of the Company.

41.7 Any
 Dividend, other distribution, interest or other monies payable in cash in respect of Shares
 may be paid by wire transfer to the holder or by cheque or warrant sent through the post
 directed to the registered address of the holder or, in the case of joint holders, to the
 registered address of the holder who is first named on the Register of Members or to such
 Person and to such address as such holder or joint holders may in writing direct. Every such
 cheque or warrant shall be made payable to the order of the Person to whom it is sent. Any
 one of two or more joint holders may give effectual receipts for any Dividends, other distributions,
 bonuses, or other monies payable in respect of the Share held by them as joint holders.

41.8 No
 Dividend or other distribution shall bear interest against the Company.

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41.9 Any
 Dividend or other distribution which cannot be paid to a Member and/or which remains unclaimed
 after six months from the date on which such Dividend or other distribution becomes payable
 may, in the discretion of the Directors, be paid into a separate account in the Company's
 name, provided that the Company shall not be constituted as a trustee in respect of that
 account and the Dividend or other distribution shall remain as a debt due to the Member.
 Any Dividend or other distribution which remains unclaimed after a period of six years from
 the date on which such Dividend or other distribution becomes payable shall be forfeited
 and shall revert to the Company.

42. **CAPITALISATION** 

The Directors may at any time capitalise any sum standing to the credit of any of the Company's reserve accounts or funds (including the Share Premium Account and capital redemption reserve fund) or any sum standing to the credit of the profit and loss account or otherwise available for distribution; appropriate such sum to Members in the proportions in which such sum would have been divisible amongst such Members had the same been a distribution of profits by way of Dividend or other distribution; and apply such sum on their behalf in paying up in full unissued Shares for allotment and distribution credited as fully paid-up to and amongst them in the proportion aforesaid. In such event the Directors shall do all acts and things required to give effect to such capitalisation, with full power given to the Directors to make such provisions as they think fit in the case of Shares becoming distributable in fractions (including provisions whereby the benefit of fractional entitlements accrue to the Company rather than to the Members concerned). The Directors may authorise any Person to enter on behalf of all of the Members interested into an agreement with the Company providing for such capitalisation and matters incidental or relating thereto and any agreement made under such authority shall be effective and binding on all such Members and the Company.

43. **SHARE PREMIUM ACCOUNT** 

43.1 The
 Directors shall in accordance with the Statute establish a Share Premium Account and shall
 carry to the credit of such account from time to time a sum equal to the amount or value
 of the premium paid on the issue of any Share.

43.2 There
 shall be debited to any Share Premium Account on the redemption or purchase of a Share the
 difference between the nominal value of such Share and the redemption or purchase price provided
 always that at the determination of the Directors such sum may be paid out of the profits
 of the Company or, if permitted by the Statute, out of capital.

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44. **BOOKS OF ACCOUNT** 

44.1 The
 Directors shall cause proper books of account (including, where applicable, material underlying
 documentation including contracts and invoices) to be kept with respect to all sums of money
 received and expended by the Company and the matters in respect of which the receipt or expenditure
 takes place, all sales and purchases of goods by the Company and the assets and liabilities
 of the Company. Such books of account must be retained for a minimum period of five years
 from the date on which they are prepared. Proper books shall not be deemed to be kept if
 there are not kept such books of account as are necessary to give a true and fair view of
 the state of the Company's affairs and to explain its transactions.

44.2 The
 Directors shall determine whether and to what extent and at what times and places and under
 what conditions or regulations the accounts and books of the Company or any of them shall
 be open to the inspection of Members not being Directors and no Member (not being a Director)
 shall have any right of inspecting any account or book or document of the Company except
 as conferred by Statute or authorised by the Directors or by the Company in general meeting.

44.3 The
 Directors may cause to be prepared and to be laid before the Company in general meeting profit
 and loss accounts, balance sheets, group accounts (if any) and such other reports and accounts
 as may be required by law.

45. **AUDIT** 

45.1 The
 Directors may appoint an Auditor of the Company who shall hold office on such terms as the
 Directors determine.

45.2 Every
 Auditor of the Company shall have a right of access at all times to the books and accounts
 and vouchers of the Company and shall be entitled to require from the Directors and officers
 of the Company such information and explanation as may be necessary for the performance of
 the duties of the Auditor.

45.3 Auditors
 shall, if so required by the Directors, make a report on the accounts of the Company during
 their tenure of office at the next annual general meeting following their appointment in
 the case of a company which is registered with the Registrar of Companies as an ordinary
 company, and at the next extraordinary general meeting following their appointment in the
 case of a company which is registered with the Registrar of Companies as an exempted company,
 and at any other time during their term of office, upon request of the Directors or any general
 meeting of the Company.

46. **NOTICES** 

46.1 Notices
 shall be in writing and may be given by the Company to any Member either personally or by
 sending it by courier, post, cable, telex, fax or e-mail to him or to his address as shown
 in the Register of Members (or where the notice is given by e-mail by sending it to the e-mail
 address provided by such Member). Any notice, if posted from one country to another, is to
 be sent by airmail.

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46.2 Where
 a notice is sent by courier, service of the notice shall be deemed to be effected by delivery
 of the notice to a courier company, and shall be deemed to have been received on the third
 day (not including Saturdays or Sundays or public holidays) following the day on which the
 notice was delivered to the courier. Where a notice is sent by post, service of the notice
 shall be deemed to be effected by properly addressing, pre paying and posting a letter containing
 the notice, and shall be deemed to have been received on the fifth day (not including Saturdays
 or Sundays or public holidays in the Cayman Islands) following the day on which the notice
 was posted. Where a notice is sent by cable, telex or fax, service of the notice shall be
 deemed to be effected by properly addressing and sending such notice and shall be deemed
 to have been received on the same day that it was transmitted. Where a notice is given by
 e-mail service shall be deemed to be effected by transmitting the e-mail to the e-mail address
 provided by the intended recipient and shall be deemed to have been received on the same
 day that it was sent, and it shall not be necessary for the receipt of the e-mail to be acknowledged
 by the recipient.

46.3 A
 notice may be given by the Company to the Person or Persons which the Company has been advised
 are entitled to a Share or Shares in consequence of the death or bankruptcy of a Member in
 the same manner as other notices which are required to be given under the Articles and shall
 be addressed to them by name, or by the title of representatives of the deceased, or trustee
 of the bankrupt, or by any like description at the address supplied for that purpose by the
 Persons claiming to be so entitled, or at the option of the Company by giving the notice
 in any manner in which the same might have been given if the death or bankruptcy had not
 occurred.

46.4 Notice
 of every general meeting shall be given in any manner authorised by the Articles to every
 holder of Shares carrying an entitlement to receive such notice on the record date for such
 meeting except that in the case of joint holders the notice shall be sufficient if given
 to the joint holder first named in the Register of Members and every Person upon whom the
 ownership of a Share devolves by reason of his being a legal personal representative or a
 trustee in bankruptcy of a Member where the Member but for his death or bankruptcy would
 be entitled to receive notice of the meeting, and no other Person shall be entitled to receive
 notices of general meetings.

47. **WINDING UP** 

47.1 If
 the Company shall be wound up, the liquidator shall apply the assets of the Company in satisfaction
 of creditors' claims in such manner and order as such liquidator thinks fit. Subject
 to the rights attaching to any Shares, in a winding up:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 the assets available for distribution amongst the Members shall be insufficient to repay
 the whole of the Company's issued share capital, such assets shall be distributed so
 that, as nearly as may be, the losses shall be borne by the Members in proportion to the
 par value of the Shares held by them; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 the assets available for distribution amongst the Members shall be more than sufficient to
 repay the whole of the Company's issued share capital at the commencement of the winding
 up, the surplus shall be distributed amongst the Members in proportion to the par value of
 the Shares held by them at the commencement of the winding up subject to a deduction from
 those Shares in respect of which there are monies due, of all monies payable to the Company
 for unpaid calls or otherwise.

47.2 If
 the Company shall be wound up the liquidator may, subject to the rights attaching to any
 Shares and with the approval of a Special Resolution of the Company and any other approval
 required by the Statute, divide amongst the Members in kind the whole or any part of the
 assets of the Company (whether such assets shall consist of property of the same kind or
 not) and may for that purpose value any assets and determine how the division shall be carried
 out as between the Members or different classes of Members. The liquidator may, with the
 like approval, vest the whole or any part of such assets in trustees upon such trusts for
 the benefit of the Members as the liquidator, with the like approval, shall think fit, but
 so that no Member shall be compelled to accept any asset upon which there is a liability.

48. **INDEMNITY AND INSURANCE** 

48.1 Every
 Director and officer of the Company (which for the avoidance of doubt, shall not include
 Auditors of the Company), together with every former Director and former officer of the Company
 (each an **Indemnified Person**) shall be indemnified out of the assets of the Company
 against any liability, action, proceeding, claim, demand, costs, damages or expenses, including
 legal expenses, whatsoever which they or any of them may incur as a result of any act or
 failure to act in carrying out their functions other than such liability (if any) that they
 may incur by reason of their own actual fraud, wilful default or wilful neglect. No Indemnified
 Person shall be liable to the Company for any loss or damage incurred by the Company as a
 result (whether direct or indirect) of the carrying out of their functions unless that liability
 arises through the actual fraud, wilful default or wilful neglect of such Indemnified Person.
 No Person shall be found to have committed actual fraud, wilful default or wilful neglect
 under this Article unless or until a court of competent jurisdiction shall have made a finding
 to that effect.

48.2 The
 Company shall advance to each Indemnified Person reasonable attorneys' fees and other
 costs and expenses incurred in connection with the defence of any action, suit, proceeding
 or investigation involving such Indemnified Person for which indemnity will or could be sought.
 In connection with any advance of any expenses hereunder, the Indemnified Person shall execute
 an undertaking to repay the advanced amount to the Company if it shall be determined by final
 judgment or other final adjudication that such Indemnified Person was not entitled to indemnification
 pursuant to this Article. If it shall be determined by a final judgment or other final adjudication
 that such Indemnified Person was not entitled to indemnification with respect to such judgment,
 costs or expenses, then such party shall not be indemnified with respect to such judgment,
 costs or expenses and any advancement shall be returned to the Company (without interest)
 by the Indemnified Person.

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48.3 The
 Directors, on behalf of the Company, may purchase and maintain insurance for the benefit
 of any Director or officer of the Company against any liability which, by virtue of any rule
 of law, would otherwise attach to such Person in respect of any negligence, default, breach
 of duty or breach of trust of which such Person may be guilty in relation to the Company.

48.4 The
 rights to indemnification and advancement of expenses conferred on any Indemnified Person
 as set out in this Article will not be exclusive of any other rights that any Indemnified
 Person may have or hereafter acquire.

49. **FINANCIAL YEAR** 

Unless the Directors otherwise prescribe, the financial year of the Company shall end on 31st July in each year and, following the year of incorporation, shall begin on 1st August in each year.

50. **TRANSFER BY WAY OF CONTINUATION** 

If the Company is exempted as defined in the Statute, it shall, subject to the provisions of the Statute and with the approval of a Special Resolution, have the power to register by way of continuation as a body corporate under the laws of any jurisdiction outside the Cayman Islands and to be deregistered in the Cayman Islands.

51. **MERGERS AND CONSOLIDATIONS** 

The Company shall have the power to merge or consolidate with one or more other constituent companies (as defined in the Statute) upon such terms as the Directors may determine and (to the extent required by the Statute) with the approval of a Special Resolution.

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## Exhibit 3.2

**Exhibit 3.2**

**THE COMPANIES Act (As revised)**

**of the cayman islands**

**company limited by shares**

**SECOND Amended and Restated MEMORANDUM AND ARTICLES OF** 

<br> **ASSOCIATION**

**OF**

**ALBERT ORIGIN ACQUISITION CORPORATION**

(Adopted by Special Resolution dated [ ])

i

**THE COMPANIES Act (as revised)**

**of the cayman islands**

**company limIted by shares**

**SECOND Amended and Restated MEMORANDUM OF ASSOCIATION**

**of**

**ALBERT ORIGIN ACQUISITION CORPORATION**

(Adopted by Special Resolution dated [ ])

1. The
 name of the Company is Albert Origin Acquisition Corporation.

2. The
 registered office of the Company will be situated at the offices of Osiris International
 Cayman Limited, Suite #4-210, Governors Square, 23 Lime Tree Bay Avenue, PO Box 32311, Grand
 Cayman KY1-1209, Cayman Islands or at such other place in the Cayman Islands as the Directors
 may from time to time decide.

3. The
 objects for which the Company is established are unrestricted and the Company shall have
 full power and authority to carry out any object that is not prohibited by the laws of the
 Cayman Islands.

4. The
 liability of each Member is limited to the amount, if any, unpaid on such Member's
 shares.

5. The
 share capital of the Company is US$6,660.00 divided into 60,000,000 Class A ordinary shares
 of a par value of US$0.0001 each, 6,000,000 Class B ordinary shares of a par value of US$0.0001
 each and 600,000 preference shares of a par value of US$0.0001 each.

6. The
 Company has power to register by way of continuation as a body corporate limited by shares
 under the laws of any jurisdiction outside of the Cayman Islands and to be deregistered in
 the Cayman Islands.

7. Capitalised
 terms that are not defined in this Memorandum of Association bear the respective meanings
 given to them in the Articles of Association of the Company.

ii

**THE COMPANIES Act (As Revised)**

**of the cayman islands**

**company limited by shares**

**SECOND Amended and Restated ARTICLES OF ASSOCIATION**

**of**

**ALBERT ORIGIN ACQUISITION CORPORATION**

(Adopted by Special Resolution dated [ ])

1. **INTERPRETATION** 

1.1 In
 the Articles Table A in the First Schedule to the Statute does not apply and, unless there
 is something in the subject or context inconsistent therewith:

**Advisory Board:** means the advisory board comprised of one or more Persons appointed by the board of Directors of the Company pursuant to the Articles;

**Affiliate:** means, with respect to a Person, any other Person that, directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with, such Person, and (a) in the case of a natural person, shall include such Person's spouse, parents, children, siblings, mother-in-law and father-in-law and brothers and sisters-in-law, whether by blood, marriage or adoption or anyone residing in such person's home, a trust for the benefit of any of the foregoing, or a corporation, a company, a partnership or other entity wholly or jointly owned by any of the foregoing and (b) in the case of an entity, shall include a corporation, a company, a partnership or other entity which directly, or indirectly through one or more intermediaries, Controls, is Controlled by, or is under common Control with, such entity. The term **Affiliated** has meaning correlative to the foregoing;

**Applicable Law:** means, with respect to any Person, all applicable provisions of all constitutions, treaties, statutes, laws (including the common law), codes, rules, regulations, ordinances or orders of any Governmental Authority, and any orders, decisions, injunctions, judgments, awards and decrees of or agreements with any Governmental Authority;

**Articles:** means these articles of association of the Company;

**Audit Committee:** means the audit committee of the board of Directors of the Company established pursuant to the Articles, if any;

**Auditor:** means the Person for the time being performing the duties of auditor of the Company (if any);

**Business Combination:** means a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganisation or similar business combination involving the Company, with one or more businesses or entities (the **target business**);

**Class or Classes:** means any class or classes of Shares as may from time to time be issued by the Company;

**Class A Share:** means a Class A ordinary share of a par value of US$0.0001 in the share capital of the Company;

**Class B Share:** means a Class B ordinary share of a par value of US$0.0001 in the share capital of the Company;

**Class B Share Conversion:** means the conversion of Class B Shares in accordance with Article 18;

**Company:** means the above named company;

**Compensation Committee:** means the compensation committee of the board of Directors of the Company established pursuant to the Articles, if any;

**Completion Window:** means the period of time commencing on, and including, the closing date of the IPO and ending on: (a) the date that is 15 months after the closing date of the IPO, or (b) such later date as the Members may approve by an amendment to these Articles by Special Resolution in accordance with these Articles<sup>1</sup>;

**Control:** means with respect to a Person, the power or authority, whether exercised or not, to direct the business, management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; provided that such power or authority shall conclusively be presumed to exist upon possession of beneficial ownership or power to direct the vote of more than fifty per cent (50%) of the votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control the composition of a majority of the board of directors of such Person. The terms **Controlled** and **Controlling** have meanings correlative to the foregoing;

<sup>1</sup> NTD: US Counsel to confirm if there will be an extension period as provided for in the S-1. If so, grateful if you could please confirm the terms of such extension as well as any requirements (i.e. deposits in the trust account, etc).

**Designated Stock Exchange:** means any national securities exchange or automated system on which the Company's securities are listed for trading, including the NASDAQ Capital Market;

**Directors:** means the directors for the time being of the Company;

**Dividend:** means any dividend (whether interim or final) resolved to be paid on Shares pursuant to the Articles;

**Electronic Record:** has the same meaning as in the Electronic Transactions Act;

**Electronic Transactions Act:** means the Electronic Transactions Act (As Revised) of the Cayman Islands;

**Equity-linked Securities:** means any debt or equity securities that are convertible, exercisable or exchangeable for Class A Shares issued in a financing transaction in connection with a Business Combination, including but not limited to a private placement of equity or debt;

**Founders:** means the Sponsor and all Members immediately prior to the consummation of the IPO;

**Governmental Authority:** means any nation or government or any province or state or any other political subdivision thereof, or any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any court, tribunal, government authority, agency, department, board, commission or instrumentality or any political subdivision thereof, any court, tribunal or arbitrator, and any self-regulatory organisation;

**Indemnified Person:** has the meaning ascribed to such term in Article 49.1;

**Initial Conversion Ratio:** has the meaning ascribed to such term in Article 18.1;

**Investor Group:** means the Sponsor and its Affiliates, successors and assigns;

**IPO:** means the Company's initial public offering of securities;

**IPO Redemption:** has the meaning given to it in Article 54.5;

**Management:** has the meaning given to it in Article 55.1;

**Member:** has the same meaning as in the Statute;

**Memorandum:** means the memorandum of association of the Company;

**Nominating and Corporate Governance Committee:** means the nominating and corporate governance committee of the board of Directors of the Company established pursuant to the Articles, if any;

**Ordinary Resolution:** means a resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) passed
 by a simple majority of the Members as, being entitled to do so, vote in person or, where
 proxies are allowed, by proxy at a general meeting of the Company and where a poll is taken
 regard shall be had in computing a majority to the number of votes to which each Member is
 entitled; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) approved
 in writing by all of the Members entitled to vote at a general meeting of the Company in
 one or more instruments each signed by one or more of the Members and the effective date
 of the resolution so adopted shall be the date on which the instrument or the last of such
 instruments, if more than one, is executed;

**Ordinary Shares:** means together the Class A Shares and Class B Shares;

**Over-Allotment Option:** means the option of the Underwriter to purchase up to an additional 15 per cent of the units sold in the IPO;

**Person:** means any individual, corporation, company, limited liability company, partnership, limited partnership, proprietorship, association, joint venture, institution, public benefit corporation, firm, trust, estate or other enterprise or entity (whether or not having a separate legal personality) or Governmental Authority or any of them as the context so requires, other than in respect of a Director or officer of the Company in which circumstances Person shall mean any individual or entity permitted to act as such in accordance with the laws of the Cayman Islands;

**Preference Share:** means a preference share of a par value of US$0.0001 in the share capital of the Company;

**Private Placement Units:** means the units to be issued to the Sponsor in a private placement simultaneously with the consummation of the IPO and any units to be issued to the Sponsor or any of its Affiliates or the Directors or Officers upon conversion of working capital loans, if any;

**Public Share:** means a Class A Share issued as part of the units issued in the IPO;

**Redemption Limitation:** has the meaning given to it in Article 54.4;

**Redemption Notice:** means a notice in a form approved by the Directors by which a holder of Public Shares is entitled to require the Company to redeem its Public Shares;

**Redemption Price:** has the meaning given to it in Article 54.5;

**Register of Members:** means the register of Members maintained in accordance with the Statute and includes (except where otherwise stated) any branch or duplicate register of Members;

**Registered Office:** means the registered office for the time being of the Company;

**Seal:** means the common seal of the Company and includes every duplicate seal;

**SEC:** means the United States Securities and Exchange Commission;

**Series:** means a series of a Class as may from time to time be issued by the Company;

**Share:** means a Class A Share, a Class B Share or a Preference Share and includes a fraction of a share in the Company;

**Share Premium Account:** means the share premium account established in accordance with the Articles and the Statute;

**Special Resolution:** means a resolution that is described as such in its terms:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) passed
 by a majority of not less than two-thirds (or, prior to the closing of a Business Combination,
 with respect to amending Article 31.3 or Article 51.2 (except where such amendment is proposed
 in respect of the consummation of a Business Combination), at least 90 per cent) of such
 Members as, being entitled to do so, vote in person or, where proxies are allowed, by proxy
 at a general meeting of the Company of which notice specifying the intention to propose the
 resolution as a special resolution has been duly given and where a poll is taken regard shall
 be had in computing a majority to the number of votes to which each Member is entitled; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) approved
 in writing by all of the Members entitled to vote at a general meeting of the Company in
 one or more instruments each signed by one or more of the Members and the effective date
 of the special resolution so adopted shall be the date on which the instrument or the last
 of such instruments, if more than one, is executed;

**Sponsor:** means Issacyan Co., Ltd and its successors;

**Statute:** means the Companies Act (As Revised) of the Cayman Islands;

**Subscriber:** means the subscriber to the Memorandum;

**Treasury Share:** means a Share held in the name of the Company as a treasury share in accordance with the Statute;

**Trust Account:** means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of the private placement of the Private Placement Units simultaneously with the closing date of the IPO, will be deposited;

**Underwriter:** means an underwriter of the IPO from time to time and any successor underwriter; and

**US Exchange Act:** means the United States Securities Exchange Act of 1934, as amended, or any similar U.S. federal statute and the rules and regulations of the SEC thereunder, all as the same shall be in effect at the time.

1.2 In
 these Articles:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) words
 importing the singular number include the plural number and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) words
 importing the masculine gender include the feminine gender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) words
 importing persons include corporations and any other legal or natural persons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "written"
 and "in writing" include all modes of representing or reproducing words in visible
 form, including in the form of an Electronic Record;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "shall"
 shall be construed as imperative and "may" shall be construed as permissive;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) references
 to provisions of any law or regulation shall be construed as references to those provisions
 as amended, modified, re-enacted or replaced;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any
 phrase introduced by the terms "including", "include", "in
 particular" or any similar expression shall be construed as illustrative and shall
 not limit the sense of the words preceding those terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the
 term "and/or" is used herein to mean both "and" as well as "or."
 The use of "and/or" in certain contexts in no respects qualifies or modifies
 the use of the terms "and" or "or" in others. The term "or"
 shall not be interpreted to be exclusive and the term "and" shall not be interpreted
 to require the conjunctive (in each case, unless the context otherwise requires);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) headings
 are inserted for reference only and shall be ignored in construing the Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any
 requirements as to delivery under the Articles include delivery in the form of an Electronic
 Record;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) any
 requirements as to execution or signature under the Articles including the execution of the
 Articles themselves can be satisfied in the form of an electronic signature as defined in
 the Electronic Transactions Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) sections
 8 and 19(3) of the Electronic Transactions Act shall not apply;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) the
 term "clear days" in relation to the period of a notice means that period excluding
 the day when the notice is received or deemed to be received and the day for which it is
 given or on which it is to take effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) the
 term "holder" in relation to a Share means a Person whose name is entered in
 the Register of Members as the holder of such Share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) reference
 to any determination by the Directors shall be construed as a determination by the Directors
 in their sole and absolute discretion and shall be applicable either generally or in any
 particular case; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) reference
 to a dollar or dollars or USD or US$ or $ and to a cent or cents is reference to dollars
 and cents of the United States of America.

2. **COMMENCEMENT OF BUSINESS** 

2.1 The
 business of the Company may be commenced as soon after incorporation of the Company as the
 Directors shall see fit.

2.2 The
 Directors may pay, out of the capital or any other monies of the Company, all expenses incurred
 in or about the formation and establishment of the Company, including the expenses of registration.

3. **ISSUE OF SHARES AND OTHER SECURITIES** 

3.1 Subject
 to the provisions, if any, in the Memorandum (and to any direction that may be given by the
 Company in general meeting) and, where applicable, the rules and regulations of the Designated
 Stock Exchange, the SEC and/or any other competent regulatory authority or otherwise under
 Applicable Law, and without prejudice to any rights attached to any existing Shares, the
 Directors may allot, issue, grant options over or otherwise dispose of Shares (including
 fractions of a Share) with or without preferred, deferred or other rights or restrictions,
 whether in regard to Dividends or other distributions, voting, return of capital or otherwise
 and to such Persons, at such times and on such other terms as they think proper, and may
 also (subject to the Statute and the Articles) vary such rights, save that the Directors
 shall not allot, issue, grant options over or otherwise dispose of Shares (including fractions
 of a Share) to the extent that it may affect the ability of the Company to carry out a Class
 B Share Conversion set out in the Articles.

3.2 The
 Company may issue rights, options, warrants or convertible securities or securities of similar
 nature conferring the right upon the holders thereof to subscribe for, purchase or receive
 any class of Shares or other securities in the Company, upon such terms as the Directors
 may from time to time determine and for such purposes the Directors may reserve an appropriate
 number of Shares for the time being unissued.

3.3 The
 Company may issue units of securities in the Company, which may be comprised of whole or
 fractional Shares, rights, options, warrants or convertible securities or securities of similar
 nature conferring the right upon the holders thereof to subscribe for, purchase or receive
 any class of Shares or other securities in the Company, upon such terms as the Directors
 may from time to time determine and for such purposes the Directors may reserve an appropriate
 number of Shares for the time being unissued. The securities comprising any such units which
 are issued pursuant to the IPO can only be traded separately from one another on the 52nd
 day following the date of the prospectus relating to the IPO unless the Underwriter determines
 that an earlier date is acceptable, subject to the Company having filed a current report
 on Form 8-K with the SEC and a press release announcing when such separate trading will begin.
 Prior to such date, the units can be traded, but the securities comprising such units cannot
 be traded separately from one another.

3.4 The
 Company shall not issue Shares to bearer.

3.5 Subject
 to Article 10, the Directors, or the Members by Ordinary Resolution, may authorise the division
 of Shares into any number of Classes and sub-classes and Series and sub-series and the different
 Classes and sub-classes and Series and sub-series shall be authorised, established and designated
 (or re-designated as the case may be) and the variations in the relative rights (including,
 without limitation, voting, dividend and redemption rights), restrictions, preferences, privileges
 and payment obligations as between the different Classes and Series (if any) may be fixed
 and determined by the Directors or the Members by Ordinary Resolution.

3.6 The
 Directors may refuse to accept any application for Shares, and may accept any application
 in whole or in part, for any reason or for no reason.

3.7 The
 Directors may issue fractions of a Share and, if so issued, a fraction of a Share shall be
 subject to and carry the corresponding fraction of liabilities (whether with respect to nominal
 or par value, premium, contributions, calls or otherwise), limitations, preferences, privileges,
 qualifications, restrictions, rights (including, without prejudice to the generality of the
 foregoing, voting and participation rights) and other attributes of a whole Share. If more
 than one fraction of a Share of the same class is issued to or acquired by the same Member
 such fractions shall be accumulated.

4. **Register of Members** 

4.1 The
 Company shall maintain or cause to be maintained the Register of Members in accordance with
 the Statute at such place or places as the Directors may from time to time determine. In
 the absence of any such determination, the Register of Members shall be kept at the Registered
 Office. Title to Shares may be evidenced and transferred in accordance with the laws applicable
 to and the rules and regulations of the Designated Stock Exchange.

4.2 The
 Directors may determine that the Company shall maintain one or more branch registers of Members
 in accordance with the Statute. The Directors may also determine which register of Members
 shall constitute the principal register and which shall constitute the branch register or
 registers, and to vary such determination from time to time.

5. **Closing of Register of Members or Fixing Record Date** 

5.1 For
 the purpose of determining Members entitled to notice of, or to vote at any meeting of Members
 or any adjournment thereof, or Members entitled to receive payment of any Dividend or other
 distribution, or in order to make a determination of Members for any other purpose, the Directors
 may, by any means in accordance with the requirements of the Designated Stock Exchange, provide
 that the Register of Members shall be closed for transfers for a stated period which shall
 not in any case exceed forty days.

5.2 In
 lieu of, or apart from, closing the Register of Members, the Directors may fix in advance
 or arrears a date as the record date for any such determination of Members entitled to notice
 of, or to vote at any meeting of the Members or any adjournment thereof, or for the purpose
 of determining the Members entitled to receive payment of any Dividend or other distribution,
 or in order to make a determination of Members for any other purpose.

5.3 If
 the Register of Members is not so closed and no record date is fixed for the determination
 of Members entitled to notice of, or to vote at, a meeting of Members or Members entitled
 to receive payment of a Dividend or other distribution, the date on which notice of the meeting
 is sent or the date on which the resolution of the Directors resolving to pay such Dividend
 or other distribution is passed, as the case may be, shall be the record date for such determination
 of Members. When a determination of Members entitled to vote at any meeting of Members has
 been made as provided in this Article, such determination shall apply to any adjournment
 thereof.

6. **Certificates for Shares** 

6.1 A
 Member shall only be entitled to a share certificate if the Directors resolve that share
 certificates shall be issued. Share certificates representing Shares, if any, shall be in
 such form as the Directors may determine. Share certificates shall be signed by one or more
 Directors or other Person authorised by the Directors. The Directors may authorise certificates
 to be issued with the authorised signature(s) affixed by mechanical process. All certificates
 for Shares shall be consecutively numbered or otherwise identified and shall specify the
 Shares to which they relate. All certificates surrendered to the Company for transfer shall
 be cancelled and, subject to the Articles, no new certificate shall be issued until the former
 certificate representing a like number of relevant Shares shall have been surrendered and
 cancelled.

6.2 The
 Company shall not be bound to issue more than one certificate for Shares held jointly by
 more than one Person and delivery of a certificate to one joint holder shall be a sufficient
 delivery to all of them.

6.3 If
 a share certificate is defaced, worn out, lost or destroyed, it may be renewed on such terms
 (if any) as to evidence and indemnity and on the payment of such expenses reasonably incurred
 by the Company in investigating evidence, as the Directors may prescribe, and (in the case
 of defacement or wearing out) upon delivery of the old certificate.

6.4 Every
 share certificate sent in accordance with the Articles will be sent at the risk of the Member
 or other Person entitled to the certificate. The Company will not be responsible for any
 share certificate lost or delayed in the course of delivery.

6.5 Every
 share certificate of the Company shall bear legends required under Applicable Law, including
 the US Exchange Act.

7. **Transfer of Shares** 

7.1 Subject
 to the Articles and the rules or regulations of the Designated Stock Exchange or any relevant
 rules of the SEC or securities laws (including, but not limited to the US Exchange Act),
 a Member may transfer all or any of his or her Shares by an instrument of transfer.

7.2 The
 instrument of transfer of any Share shall be in (a) writing in any usual or common form,
 (b) such form as is prescribed by the Designated Stock Exchange or any relevant rules of
 the SEC or securities laws, or (c) any other form as the Directors may approve, and shall
 be executed by or on behalf of the transferor (and if in respect of a nil or partly paid
 up Share or the Directors so require, signed by or on behalf of the transferee) and shall
 be accompanied by the certificate (if any) of the Shares to which it relates and such other
 evidence as the Directors may reasonably require to show the right of the transferor to make
 the transfer. The transferor shall be deemed to remain the holder of a Share until the name
 of the transferee is entered in the Register of Members in respect of the relevant Share.

7.3 Subject
 to the terms of issue thereof and the rules or regulations of the Designated Stock Exchange
 or any relevant rules of the SEC or securities laws (including, but not limited to the US
 Exchange Act), the Directors may determine to decline to register any transfer of Shares
 without assigning any reason therefor. If the Shares in question were issued in conjunction
 with rights, options, units or warrants issued pursuant to the Articles on terms that one
 cannot be transferred without the other, the Directors shall refuse to register the transfer
 of any such Share without evidence satisfactory to them of the like transfer of such rights,
 option, unit or warrant.

7.4 The
 registration of transfers may be suspended at such times and for such periods as the Directors
 may from time to time determine.

7.5 All
 instruments of transfer that are registered shall be retained by the Company, but any instrument
 of transfer that the Directors decline to register shall (except in any case of fraud) be
 returned to the Person depositing the same

8. **Redemption, Repurchase and Surrender of Shares** 

8.1 Subject
 to the provisions of the Statute and the rules of the Designated Stock Exchange, the Company
 may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue
 Shares that are to be redeemed or are liable to be redeemed at the option of the Member or
 the Company in such manner and upon such other terms as the Directors may determine before
 the issuance of the Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) purchase
 its own Shares (including any redeemable Shares) in such manner and on such other terms as
 the Directors may determine and agree with the relevant Member.

8.2 The
 Company may make a payment in respect of the redemption or purchase of its own Shares in
 any manner permitted by the Statute, including out of capital.

8.3 With
 respect to redeeming or repurchasing the Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Members
 who hold Public Shares are entitled to request the redemption of such Shares in the circumstances
 described in Article 54; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Public
 Shares shall be repurchased by way of tender offer in the circumstances set out in Article

8.4 The
 redemptions and repurchases of Shares in the circumstances described in Article 8.3 above
 shall not require further approval of the Members.

8.5 Class
 B Shares held by the Sponsor shall be surrendered by the Sponsor on a pro rata basis for
 no consideration to the extent that the Over-Allotment Option is not exercised in full so
 that the number of issued Class B Shares will equal approximately 30 per cent of the Company's
 issued Ordinary Shares immediately after the IPO.

8.6 Any
 Share in respect of which notice of redemption has been given shall not be entitled to participate
 in the profits of the Company in respect of the period after the date specified as the date
 of redemption in the notice of redemption.

8.7 The
 redemption, purchase or surrender of any Share shall not be deemed to give rise to the redemption,
 purchase or surrender of any other Share.

8.8 The
 Directors may when making payments in respect of redemption or purchase of Shares, if authorised
 by the terms of issue of the Shares being redeemed or purchased or with the agreement of
 the holder of such Shares, make such payment either in cash or in specie including, without
 limitation, interests in a special purpose vehicle holding assets of the Company or holding
 entitlement to the proceeds of assets held by the Company or in a liquidating structure.

8.9 The
 Directors may accept the surrender for no consideration of any fully paid Share (including
 any redeemable share).

9. **Treasury Shares** 

9.1 The
 Directors may, prior to the purchase, redemption or surrender of any Share, determine that
 such Share shall be held as a Treasury Share.

9.2 The
 Directors may determine to cancel a Treasury Share or transfer a Treasury Share on such terms
 as they think proper (including, without limitation, for nil consideration).

9.3 No
 Dividend may be declared or paid, and no other distribution (whether in cash or otherwise)
 of the Company's assets (including any distribution of assets to Members on a winding
 up) may be declared or paid in respect of a Treasury Share.

9.4 The
 Company shall be entered in the Register of Members as the holder of the Treasury Shares
 provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company shall not be treated as a Member for any purpose and shall not exercise any right
 in respect of the Treasury Shares, and any purported exercise of such a right shall be void;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a
 Treasury Share shall not be voted, directly or indirectly, at any meeting of the Company
 and shall not be counted in determining the total number of issued Shares at any given time,
 whether for the purposes of the Articles or the Statute, save that an allotment of Shares
 as fully paid bonus shares in respect of a Treasury Share is permitted and Shares allotted
 as fully paid bonus shares in respect of a Treasury Share shall be treated as Treasury Shares.

10. **Variation of Share Rights** 

10.1 If
 at any time the share capital of the Company is divided into different classes of Shares,
 all or any of the rights attached to any class (unless otherwise provided by the terms of
 issue of the Shares of that class) may, whether or not the Company is being wound up, be
 varied without the consent of the holders of the issued Shares of that class where such variation
 is considered by the Directors not to have a material adverse effect upon such rights; otherwise,
 any such variation shall be made only with the consent in writing of the holders of not less
 than two-thirds of the issued Shares of that class, or with the approval of a resolution
 passed by a majority of not less than two-thirds of the votes cast at a separate meeting
 of the holders of the Shares of that class (other than with respect to a waiver of the provisions
 of the Article in respect of Class B Share Conversion, which as stated therein shall only
 require the consent in writing of the holders of a majority of the issued Shares of that
 class). For the avoidance of doubt, the Directors reserve the right, notwithstanding that
 any such variation may not have a material adverse effect, to obtain consent from the holders
 of Shares of the relevant class. To any such meeting all the provisions of the Articles relating
 to general meetings shall apply *mutatis mutandis*, except that the necessary quorum
 shall be one or more Persons holding or representing by proxy at least one-third of the issued
 Shares of the class (but so that if at any adjourned meeting of such holders a quorum as
 above defined is not present, those Members who are present shall form a quorum) and that
 any holder of Shares of the class present in person or by proxy may demand a poll.

10.2 For
 the purposes of a separate class meeting, the Directors may treat two or more or all the
 classes of Shares as forming one class of Shares if the Directors consider that such class
 of Shares would be affected in the same way by the proposals under consideration, but in
 any other case shall treat them as separate classes of Shares.

10.3 The
 rights conferred upon the holders of the Shares of any class issued with preferred or other
 rights shall not, unless otherwise expressly provided by the terms of issue of the Shares
 of that class, be deemed to be varied by the creation or issue of further Shares ranking *pari passu* therewith or Shares issued with preferred or other rights, any variation
 of the rights conferred upon the holders of Shares of any other Class, or the redemption
 or purchase of any Shares of any Class by the Company; or where the Articles are amended
 or new Articles are adopted, in each case, as a result of the Company undertaking a transfer
 by way of continuation to a jurisdiction outside of the Cayman Islands.

11. **Commission on Sales of Shares** 

The Company may, in so far as the Statute permits, pay a commission to any Person in consideration of his subscribing or agreeing to subscribe (whether absolutely or conditionally) or procuring or agreeing to procure subscriptions (whether absolutely or conditionally) for any Shares. Such commissions may be satisfied by the payment of cash and/or the issue of fully or partly paid-up Shares. The Company may also on any issue of Shares pay such brokerage as may be lawful.

12. **Non-Recognition of Trusts** 

The Company shall not be bound by or compelled to recognise in any way (even when notified) any equitable, contingent, future or partial interest in any Share, or (except only as is otherwise provided by the Articles or the Statute) any other rights in respect of any Share other than an absolute right to the entirety thereof in the holder.

13. **Lien on Shares** 

13.1 The
 Company shall have a first and paramount lien on all Shares (whether fully paid-up or not)
 registered in the name of a Member (whether solely or jointly with others) for all debts,
 liabilities or engagements to or with the Company (whether presently payable or not) by such
 Member or his estate, either alone or jointly with any other Person, whether a Member or
 not, but the Directors may at any time declare any Share to be wholly or in part exempt from
 the provisions of this Article. The registration of a transfer of any such Share shall operate
 as a waiver of the Company's lien thereon. The Company's lien on a Share shall
 also extend to any amount payable in respect of that Share.

13.2 The
 Company may sell, in such manner as the Directors think fit, any Shares on which the Company
 has a lien, if a sum in respect of which the lien exists is presently payable, and is not
 paid within fourteen clear days after notice has been received or deemed to have been received
 by the holder of the Shares, or to the Person entitled to it in consequence of the death
 or bankruptcy of the holder, demanding payment and stating that if the notice is not complied
 with the Shares may be sold.

13.3 To
 give effect to any such sale the Directors may authorise any Person to execute an instrument
 of transfer of the Shares sold to, or in accordance with the directions of, the purchaser.
 The purchaser or his nominee shall be registered as the holder of the Shares comprised in
 any such transfer, and he shall not be bound to see to the application of the purchase money,
 nor shall his title to the Shares be affected by any irregularity or invalidity in the sale
 or the exercise of the Company's power of sale under the Articles.

13.4 The
 net proceeds of such sale after payment of costs, shall be applied in payment of such part
 of the amount in respect of which the lien exists as is presently payable and any balance
 shall (subject to a like lien for sums not presently payable as existed upon the Shares before
 the sale) be paid to the Person entitled to the Shares at the date of the sale.

14. **Calls on Shares** 

14.1 Subject
 to the terms of the allotment and issue of any Shares, the Directors may make calls upon
 the Members in respect of any monies unpaid on their Shares (whether in respect of par value
 or premium), and each Member shall (subject to receiving at least fourteen clear days'
 notice specifying the time or times of payment) pay to the Company at the time or times so
 specified the amount called on the Shares. A call may be revoked or postponed, in whole or
 in part, as the Directors may determine. A call may be required to be paid by instalments.
 A Person upon whom a call is made shall remain liable for calls made upon him notwithstanding
 the subsequent transfer of the Shares in respect of which the call was made.

14.2 A
 call shall be deemed to have been made at the time when the resolution of the Directors authorising
 such call was passed.

14.3 The
 joint holders of a Share shall be jointly and severally liable to pay all calls in respect
 thereof.

14.4 If
 a call remains unpaid after it has become due and payable, the Person from whom it is due
 shall pay interest on the amount unpaid from the day it became due and payable until it is
 paid at such rate as the Directors may determine (and in addition all expenses that have
 been incurred by the Company by reason of such non-payment), but the Directors may waive
 payment of the interest or expenses wholly or in part.

14.5 An
 amount payable in respect of a Share on issue or allotment or at any fixed date, whether
 on account of the par value of the Share or premium or otherwise, shall be deemed to be a
 call and if it is not paid all the provisions of the Articles shall apply as if that amount
 had become due and payable by virtue of a call.

14.6 The
 Directors may issue Shares with different terms as to the amount and times of payment of
 calls, or the interest to be paid.

14.7 The
 Directors may, if they think fit, receive an amount from any Member willing to advance all
 or any part of the monies uncalled and unpaid upon any Shares held by him, and may (until
 the amount would otherwise become payable) pay interest at such rate as may be agreed upon
 between the Directors and the Member paying such amount in advance.

14.8 No
 such amount paid in advance of calls shall entitle the Member paying such amount to any portion
 of a Dividend or other distribution payable in respect of any period prior to the date upon
 which such amount would, but for such payment, become payable.

15. **Forfeiture of Shares** 

15.1 If
 a call or instalment of a call remains unpaid after it has become due and payable the Directors
 may give to the Person from whom it is due not less than fourteen clear days' notice
 requiring payment of the amount unpaid together with any interest which may have accrued
 and any expenses incurred by the Company by reason of such non-payment. The notice shall
 specify where payment is to be made and shall state that if the notice is not complied with
 the Shares in respect of which the call was made will be liable to be forfeited.

15.2 If
 the notice is not complied with, any Share in respect of which it was given may, before the
 payment required by the notice has been made, be forfeited by a resolution of the Directors.
 Such forfeiture shall include all Dividends, other distributions or other monies payable
 in respect of the forfeited Share and not paid before the forfeiture.

15.3 A
 forfeited Share may be sold, re-allotted or otherwise disposed of on such terms and in such
 manner as the Directors think fit and at any time before a sale, re-allotment or disposition
 the forfeiture may be cancelled on such terms as the Directors think fit. Where for the purposes
 of its disposal a forfeited Share is to be transferred to any Person the Directors may authorise
 some Person to execute an instrument of transfer of the Share in favour of that Person.

15.4 A
 Person any of whose Shares have been forfeited shall cease to be a Member in respect of them
 and shall surrender to the Company for cancellation the certificate for the Shares forfeited
 and shall remain liable to pay to the Company all monies which at the date of forfeiture
 were payable by him to the Company in respect of those Shares together with interest at such
 rate as the Directors may determine, but his liability shall cease if and when the Company
 shall have received payment in full of all monies due and payable by him in respect of those
 Shares.

15.5 A
 certificate in writing under the hand of one Director or officer of the Company that a Share
 has been forfeited on a specified date shall be conclusive evidence of the facts stated in
 it as against all Persons claiming to be entitled to the Share. The certificate shall (subject
 to the execution of an instrument of transfer) constitute a good title to the Share and the
 Person to whom the Share is sold or otherwise disposed of shall not be bound to see to the
 application of the purchase money, if any, nor shall his title to the Share be affected by
 any irregularity or invalidity in the proceedings in reference to the forfeiture, sale or
 disposal of the Share.

15.6 The
 provisions of the Articles as to forfeiture shall apply in the case of non-payment of any
 sum which, by the terms of issue of a Share, becomes payable at a fixed time, whether on
 account of the par value of the Share or by way of premium as if it had been payable by virtue
 of a call duly made and notified.

16. **Transmission of Shares** 

16.1 If
 a Member dies, the survivor or survivors (where he was a joint holder), or his legal personal
 representatives (where he was a sole holder), shall be the only Persons recognised by the
 Company as having any title to his Shares. The estate of a deceased Member is not thereby
 released from any liability in respect of any Share, for which he was a joint or sole holder.

16.2 Any
 Person becoming entitled to a Share in consequence of the death or bankruptcy or liquidation
 or dissolution of a Member (or in any other way than by transfer) may, upon such evidence
 being produced as may be required by the Directors, elect, by a notice in writing sent by
 him to the Company, either to become the holder of such Share or to have some Person nominated
 by him registered as the holder of such Share. If he elects to have another Person registered
 as the holder of such Share he shall sign an instrument of transfer of that Share to that
 Person. The Directors shall, in either case, have the same right to decline or suspend registration
 as they would have had in the case of a transfer of the Share by the relevant Member before
 his death or bankruptcy or liquidation or dissolution or any other case than by transfer,
 as the case may be.

16.3 A
 Person becoming entitled to a Share by reason of the death or bankruptcy or liquidation or
 dissolution of a Member (or in any other case than by transfer) shall be entitled to the
 same Dividends, other distributions and other advantages to which he would be entitled if
 he were the holder of such Share. However, he shall not, before becoming a Member in respect
 of a Share, be entitled in respect of it to exercise any right conferred by membership in
 relation to general meetings of the Company and the Directors may at any time give notice
 requiring any such Person to elect either to be registered himself or to have some Person
 nominated by him be registered as the holder of the Share (but the Directors shall, in either
 case, have the same right to decline or suspend registration as they would have had in the
 case of a transfer of the Share by the relevant Member before his death or bankruptcy or
 liquidation or dissolution or any other case than by transfer, as the case may be). If the
 notice is not complied with within ninety days of being received or deemed to be received
 (as determined pursuant to the Articles) the Directors may thereafter withhold payment of
 all Dividends, other distributions, bonuses or other monies payable in respect of the Share
 until the requirements of the notice have been complied with.

17. **Share Rights** 

With the exception that the holder of a Class B Share shall have the conversion rights referred to in Article 18, the Director appointment and removal rights referred to in Article 31.3, the right to vote on the approval of any transfer of the Company by way of continuation pursuant to Article 51.2, and except as otherwise specified in the Articles or required by law, the rights attaching to all Class A Shares and Class B Shares shall rank *pari passu* in all respects, and the Class A Shares and Class B Shares shall vote together as a single class on all matters.

18. **Class B Share Conversion** 

18.1 Class
 B Shares shall automatically convert into Class A Shares on a one-for-one basis (the **Initial Conversion Ratio**): (a) at any time and from time to time at the option of the holder
 thereof; and (b) automatically at the time of the closing of the initial Business Combination.

18.2 Notwithstanding
 the Initial Conversion Ratio, in the case that additional Class A Shares or any Equity-linked
 Securities are issued or deemed issued by the Company in excess of the amounts sold in the
 IPO and related to or in connection with the closing of the initial Business Combination,
 the ratio at which the Class B Shares convert into Class A Shares will be adjusted so that
 the number of Class A Shares issuable upon conversion of all Class B Shares will equal, in
 the aggregate, 30 per cent of the sum of: (a) the total number of Class A Shares issued and
 outstanding upon completion of the IPO (including any Class A Share issued pursuant to the
 Over-Allotment Option and excluding the Class A Shares issued in private placements prior
 to or simultaneously with the IPO), plus (b) the total number of Class A Shares issued or
 deemed issued or issuable upon conversion or exercise of any Equity-linked Securities or
 rights issued, or deemed issued, by the Company in connection with or in relation to the
 consummation of the initial Business Combination (excluding (x) any Shares or Equity-linked
 Securities exercisable for or convertible into Class A Shares issued, or to be issued, to
 any seller in the initial Business Combination and (y) any Private Placement Units issued
 to the Sponsor or any of its Affiliates or the Directors or Officers upon conversion of working
 capital loans) minus (c) the number of Class A Shares redeemed by public shareholders in
 connection with the Business Combination and any Class A Shares redeemed in accordance with
 Article 54.7 prior to the consummation of the initial Business Combination; provided that
 such conversion of Class B Shares will never occur on a less than one-for-one basis.

18.3 Notwithstanding
 anything to the contrary contained herein, the foregoing adjustment to the Initial Conversion
 Ratio may be waived as to any particular issuance or deemed issuance of additional Class
 A Shares or Equity-linked Securities by the written consent or agreement of holders of a
 majority of the Class B Shares then in issue consenting or agreeing separately as a separate
 class in the manner provided in Article 10.

18.4 The
 foregoing conversion ratio shall also be adjusted to account for any share capitalisations,
 subdivision (by share split, subdivision, exchange, rights issue, reclassification, recapitalisation
 or otherwise) or combination (by reverse share split, share consolidation, exchange, reclassification,
 recapitalisation or otherwise) or similar reclassification or recapitalisation of the Class
 A Shares in issue into a greater or lesser number of shares occurring after the original
 filing of the Articles without a proportionate and corresponding share capitalisation, subdivision,
 combination or similar reclassification or recapitalisation of the Class B Shares in issue.

18.5 Each
 Class B Share shall convert into its pro rata number of Class A Shares pursuant to this Article.
 The pro rata share for each holder of Class B Shares will be determined as follows: each
 Class B Share shall convert into such number of Class A Shares as is equal to the product
 of 1 multiplied by a fraction, the numerator of which shall be the total number of Class
 A Shares into which all of the Class B Shares in issue shall be converted pursuant to this
 Article and the denominator of which shall be the total number of Class B Shares in issue
 at the time of conversion.

18.6 References
 in this Article to **converted**, **conversion** or **exchange** shall mean the
 compulsory redemption without notice of Class B Shares of any Member and, on behalf of such
 Members, automatic application of such redemption proceeds in paying for such new Class A
 Shares into which the Class B Shares have been converted or exchanged at a price per Class
 B Share necessary to give effect to a conversion or exchange calculated on the basis that
 the Class A Shares to be issued as part of the conversion or exchange will be issued at par.
 The Class A Shares to be issued on an exchange or conversion shall be registered in the name
 of such Member or in such name as the Member may direct.

18.7 Notwithstanding
 anything to the contrary in this Article, in no event may any Class B Share convert into
 Class A Shares at a ratio that is less than one-for-one.

19. **Amendments of Memorandum and Articles of Association and Alteration of Capital** 

19.1 The
 Company may by Ordinary Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) increase
 its share capital by such sum to be divided into Shares of such classes and amount and with
 such rights, priorities and privileges annexed thereto as the Ordinary Resolution shall prescribe;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) consolidate
 and divide all or any of its share capital into Shares of larger amount than its existing
 Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) convert
 all or any of its paid-up Shares into stock, and reconvert that stock into paid-up Shares
 of any denomination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) by
 subdivision of its existing Shares or any of them divide the whole or any part of its share
 capital into Shares of smaller amount than is fixed by the Memorandum or into Shares without
 par value; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) cancel
 any Shares that at the date of the passing of the Ordinary Resolution have not been taken
 or agreed to be taken by any Person and diminish the amount of its share capital by the amount
 of the Shares so cancelled.

19.2 All
 new Shares created in accordance with the provisions of the preceding Article shall be subject
 to the same provisions of the Articles with reference to the payment of calls, liens, transfer,
 transmission, forfeiture and otherwise as the Shares in the original share capital.

19.3 Subject
 to the provisions of the Statute and the provisions of the Articles as regards the matters
 to be dealt with by Ordinary Resolution, the Company may by Special Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) change
 its name;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) alter
 or add to the Articles (subject to Article 31.4, Article 51.2 and Article 54);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) alter
 or add to the Memorandum with respect to any objects, powers or other matters specified therein;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) reduce
 its share capital or any capital redemption reserve fund.

20. **Offices and Place of Business** 

Subject to the provisions of the Statute, the Company may by resolution of the Directors change the location of its Registered Office. The Company may, in addition to its Registered Office, maintain such other offices or places of business as the Directors determine.

21. **General Meetings** 

21.1 All
 general meetings other than annual general meetings shall be called extraordinary general
 meetings.

21.2 The
 Company may, but shall not (unless required by the Statute or, for so long as any Shares
 are traded on a Designated Stock Exchange, the rules or regulations of the Designated Stock
 Exchange) be obliged to, in each year hold a general meeting as its annual general meeting,
 and shall specify the meeting as such in the notices calling it. Any annual general meeting
 shall be held at such time and place as the Directors shall appoint. At these meetings the
 report of the Directors (if any) shall be presented.

21.3 The
 Directors, the chief executive officer or the chairman of the board of Directors may call
 general meetings, and, for the avoidance of doubt, Members shall not have the ability to
 call general meetings.

21.4 Members
 seeking to bring business before the annual general meeting or to nominate candidates for
 appointment as Directors at the annual general meeting must deliver notice to the principal
 executive offices of the Company not less than 120 calendar days before the date of the Company's
 proxy statement released to Members in connection with the previous year's annual general
 meeting or, if the Company did not hold an annual general meeting the previous year, or if
 the date of the current year's annual general meeting has been changed by more than
 30 days from the date of the previous year's annual general meeting, then the deadline
 shall be set by the Directors with such deadline being a reasonable time before the Company
 begins to print and send its related proxy materials.

22. **Notice of General Meetings** 

22.1 At
 least five clear days' notice shall be given of any general meeting. Every notice shall
 specify the place, the day and the hour of the meeting and the general nature of the business
 to be conducted at the general meeting and shall be given in the manner hereinafter mentioned
 or in such other manner if any as may be prescribed by the Company by Ordinary Resolution
 to such Persons as are, under the Articles, entitled to receive such notices from the Company,
 provided that a general meeting of the Company shall, whether or not the notice specified
 in this Article has been given and whether or not the provisions of the Articles regarding
 general meetings have been complied with, be deemed to have been duly convened if it is so
 agreed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in
 the case of an annual general meeting, by all of the Members entitled to attend and vote
 thereat; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 the case of an extraordinary general meeting, by a majority in number of the Members having
 a right to attend and vote at the meeting, together holding not less than ninety-five per
 cent in par value of the Shares giving that right.

22.2 The
 accidental omission to give notice of a general meeting to, or the non-receipt of notice
 of a general meeting by, any Person entitled to receive such notice shall not invalidate
 the proceedings of that general meeting.

23. **Proceedings at General Meetings** 

23.1 No
 business shall be transacted at any general meeting unless a quorum is present. Save as otherwise
 provided by the Articles, one or more Members holding in the aggregate not less than one-third
 of the total issued Shares present in person or by proxy and entitled to vote at that meeting
 shall form a quorum.

23.2 A
 Person may participate at a general meeting by conference telephone, video, a virtual platform
 or other communications equipment by means of which all the Persons participating in the
 meeting can communicate with each other. Participation by a Person in a general meeting in
 this manner is treated as presence in person at that meeting.

23.3 A
 meeting of the Members may be held by conference telephone, video, a virtual platform or
 other communications equipment by which all the Persons participating in the meeting can
 communicate with each other, and participation in such a general meeting in such manner shall
 constitute presence in person at such meeting.

23.4 A
 resolution (including a Special Resolution) in writing (in one or more counterparts) signed
 by or on behalf of all of the Members for the time being entitled to receive notice of and
 to attend and vote at general meetings (or, being corporations or other non-natural persons,
 signed by their duly authorised representatives) shall be as valid and effective as if the
 resolution had been passed at a general meeting of the Company duly convened and held.

23.5 If
 a quorum is not present within half an hour from the time appointed for the meeting to commence,
 the meeting shall stand adjourned to the same day in the next week at the same time and place
 or to such other day, time and/or place as the Directors may determine, and if at the adjourned
 meeting a quorum is not present within half an hour from the time appointed for the meeting
 to commence, the Members present shall be a quorum.

23.6 The
 Directors may, at any time prior to the time appointed for the meeting to commence, appoint
 any Person to act as chairman of a general meeting of the Company or, if the Directors do
 not make any such appointment, the chairman, if any, of the board of Directors shall preside
 as chairman at such general meeting. If there is no such chairman, or if he shall not be
 present within fifteen minutes after the time appointed for the meeting to commence, or is
 unwilling to act, the Directors present shall elect one of their number to be chairman of
 the meeting.

23.7 If
 no Director is willing to act as chairman or if no Director is present within fifteen minutes
 after the time appointed for the meeting to commence, the Members present shall choose one
 of their number to be chairman of the meeting.

23.8 The
 chairman may adjourn a meeting from time to time and from place to place either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) with
 the consent of a meeting at which a quorum is present (and shall if so directed by the meeting
 by Ordinary Resolution); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) without
 the consent of such meeting if, in his sole opinion, he considers it necessary to do so to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) secure
 the orderly conduct or proceedings of the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) give
 all Persons present in person or by proxy and having the right to speak and/or vote at such
 meeting, the ability to do so,

but no business shall be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place.

23.9 When
 a general meeting is adjourned for thirty days or more, notice of the adjourned meeting shall
 be given as in the case of an original meeting. Otherwise it shall not be necessary to give
 any such notice of an adjourned meeting.

23.10 If,
 prior to a Business Combination, a notice is issued in respect of a general meeting and the
 Directors, in their absolute discretion, consider that it is impractical or undesirable for
 any reason to hold that general meeting at the place, the day and the hour specified in the
 notice calling such general meeting, the Directors may postpone the general meeting to another
 place, day and/or hour provided that notice of the place, the day and the hour of the rearranged
 general meeting is promptly given to all Members. No business shall be transacted at any
 postponed meeting other than the business specified in the notice of the original meeting.

23.11 When
 a general meeting is postponed for thirty days or more, notice of the postponed meeting shall
 be given as in the case of an original meeting. Otherwise it shall not be necessary to give
 any such notice of a postponed meeting. All proxy forms submitted for the original general
 meeting shall remain valid for the postponed meeting. The Directors may postpone a general
 meeting which has already been postponed.

23.12 A
 resolution put to the vote of the meeting shall be decided on a poll.

23.13 A
 poll shall be taken in such manner as the chairman directs, and the result of the poll shall
 be deemed to be the resolution of the general meeting at which the poll was demanded.

23.14 In
 the case of an equality of votes the chairman of the general meeting shall be entitled to
 a second or casting vote.

23.15 A
 poll on the election of a chairman or on a question of adjournment shall be taken forthwith.
 A poll on any other question shall be taken at such date, time and place as the chairman
 of the general meeting directs.

24. **Votes of Members** 

24.1 Subject
 to any rights or restrictions attached to any Shares (including as set out at Article 31.3,
 Article 31.4 and Article 54), every Member who being an individual is present in person or
 by proxy or, if a corporation or other non-natural person is present by its duly authorised
 representative or by proxy, shall have one vote for every Share of which he is the holder.

24.2 In
 the case of joint holders the vote of the senior holder who tenders a vote, whether in person
 or by proxy (or, in the case of a corporation or other non-natural person, by its duly authorised
 representative or proxy), shall be accepted to the exclusion of the votes of the other joint
 holders, and seniority shall be determined by the order in which the names of the holders
 stand in the Register of Members.

24.3 A
 Member of unsound mind, or in respect of whom an order has been made by any court, having
 jurisdiction in lunacy, may vote, whether on a show of hands or on a poll, by his committee,
 receiver, curator bonis, or other Person on such Member's behalf appointed by that
 court, and any such committee, receiver, curator bonis or other Person may vote by proxy.

24.4 No
 Person shall be entitled to vote at any general meeting unless he is registered as a Member
 on the record date for such meeting nor unless all calls or other monies then payable by
 him in respect of Shares have been paid.

24.5 No
 objection shall be raised as to the qualification of any voter except at the general meeting
 or adjourned general meeting at which the vote objected to is given or tendered and every
 vote not disallowed at the meeting shall be valid. Any objection made in due time in accordance
 with this Article shall be referred to the chairman whose decision shall be final and conclusive.

24.6 Votes
 may be cast either personally or by proxy (or in the case of a corporation or other non-natural
 person by its duly authorised representative or proxy). A Member may appoint more than one
 proxy or the same proxy under one or more instruments to attend and vote at a meeting. Where
 a Member appoints more than one proxy the instrument of proxy shall specify the number of
 Shares in respect of which each proxy is entitled to exercise the related votes.

24.7 A
 Member holding more than one Share need not cast the votes in respect of his Shares in the
 same way on any resolution and therefore may vote a Share or some or all such Shares either
 for or against a resolution and/or abstain from voting a Share or some or all of the Shares
 and, subject to the terms of the instrument appointing him, a proxy appointed under one or
 more instruments may vote a Share or some or all of the Shares in respect of which he is
 appointed either for or against a resolution and/or abstain from voting a Share or some or
 all of the Shares in respect of which he is appointed.

25. **Proxies** 

25.1 The
 instrument appointing a proxy shall be in writing and shall be executed under the hand of
 the appointor or of his attorney duly authorised in writing, or, if the appointor is a corporation
 or other non-natural person, under the hand of its duly authorised representative. A proxy
 need not be a Member.

25.2 The
 Directors may, in the notice convening any meeting or adjourned meeting, or in an instrument
 of proxy sent out by the Company, specify the manner by which the instrument appointing a
 proxy shall be deposited and the place and the time (being not later than the time appointed
 for the commencement of the meeting or adjourned meeting to which the proxy relates) at which
 the instrument appointing a proxy shall be deposited. In the absence of any such direction
 from the Directors in the notice convening any meeting or adjourned meeting or in an instrument
 of proxy sent out by the Company, the instrument appointing a proxy shall be deposited physically
 at the Registered Office not less than 48 hours before the time appointed for the meeting
 or adjourned meeting to commence at which the Person named in the instrument proposes to
 vote.

25.3 The
 chairman may in any event at his discretion declare that an instrument of proxy shall be
 deemed to have been duly deposited. An instrument of proxy that is not deposited in the manner
 permitted, or which has not been declared to have been duly deposited by the chairman, shall
 be invalid.

25.4 The
 instrument appointing a proxy may be in any usual or common form (or such other form as the
 Directors may approve) and may be expressed to be for a particular meeting or any adjournment
 thereof or generally until revoked. An instrument appointing a proxy shall be deemed to include
 the power to demand or join or concur in demanding a poll.

25.5 Votes
 given in accordance with the terms of an instrument of proxy shall be valid notwithstanding
 the previous death or insanity of the principal or revocation of the proxy or of the authority
 under which the proxy was executed, or the transfer of the Share in respect of which the
 proxy is given unless notice in writing of such death, insanity, revocation or transfer was
 received by the Company at the Registered Office before the commencement of the general meeting,
 or adjourned meeting at which it is sought to use the proxy.

26. **Corporate Members** 

Any corporation or other non-natural person which is a Member may in accordance with its constitutional documents, or in the absence of such provision by resolution of its directors or other governing body, authorise such Person as it thinks fit to act as its representative at any meeting of the Company or of any class of Members, and the Person so authorised shall be entitled to exercise the same powers on behalf of the corporation which he represents as the corporation could exercise if it were an individual Member.

27. **Clearing Houses** 

If a clearing house (or its nominee(s)), being a corporation, is a Member it may authorise such Person or Persons as it thinks fit to act as its representative or representatives at any general meeting of the Company or at any meeting of any class of Members provided that, if more than one Person is so authorised, the authorisation shall specify the number and class of Shares in respect of which each such Person is so authorised. A Person so authorised pursuant to this Article shall be deemed to have been duly authorised without further evidence of the facts and be entitled to exercise the same powers on behalf of the clearing house (or its nominee(s)) which he represents as if such Person was the registered holder of such Shares held by the clearing house (or its nominee(s)).

28. **Shares that May Not be Voted** 

Shares in the Company that are beneficially owned by the Company shall not be voted, directly or indirectly, at any meeting and shall not be counted in determining the total number of outstanding Shares at any given time.

29. **Directors** 

The Company may by Ordinary Resolution from time to time fix the maximum and minimum number of Directors to be appointed but unless such numbers are fixed as aforesaid the minimum number of Directors shall be one and the maximum number of Directors shall be unlimited.

30. **PowerS of Directors** 

30.1 Subject
 to the provisions of the Statute, the Memorandum and the Articles and to any directions given
 by Special Resolution, the business of the Company shall be managed by the Directors who
 may exercise all the powers of the Company. No alteration of the Memorandum or Articles and
 no such direction shall invalidate any prior act of the Directors which would have been valid
 if that alteration had not been made or that direction had not been given. A duly convened
 meeting of the Directors at which a quorum is present may exercise all powers exercisable
 by the Directors.

30.2 All
 cheques, promissory notes, drafts, bills of exchange and other negotiable or transferable
 instruments and all receipts for monies paid to the Company shall be signed, drawn, accepted,
 endorsed or otherwise executed, as the case may be, in such manner as the Directors shall
 determine by resolution.

30.3 The
 Directors on behalf of the Company may pay a gratuity or pension or allowance on retirement
 to any Director who has held any other salaried office or place of profit with the Company
 or to his widow or dependants and may make contributions to any fund and pay premiums for
 the purchase or provision of any such gratuity, pension or allowance.

30.4 The
 Directors may exercise all the powers of the Company to borrow money and to mortgage or charge
 its undertaking, property and assets (present and future) and uncalled capital or any part
 thereof and to issue debentures, debenture stock, mortgages, bonds and other such securities
 whether outright or as security for any debt, liability or obligation of the Company or of
 any third party.

30.5 The
 Directors shall have the authority to present a winding up petition on behalf of the Company
 without the sanction of a resolution passed by the Company in general meeting.

31. **APPOINTMENT AND REMOVAL OF DIRECTORS** 

31.1 Subject
 to Article 31.3, the Company may by Ordinary Resolution appoint any Person to be a Director
 or may by Ordinary Resolution remove any Director.

31.2 The
 initial board of Directors shall consist of (4) four members elected as a single class with
 no term. Notwithstanding the foregoing provisions of this Article, each Director shall hold
 office until his or her earlier death, resignation or removal.

31.3 Prior
 to the consummation of an initial Business Combination, only holders of Class B Shares will
 have the right to vote on the appointment and the removal of Directors pursuant to Article
 31.1. For the avoidance of doubt, prior to the consummation of an initial Business Combination,
 holders of Class A Shares shall have no right to vote on the appointment or removal of any
 Director, even if such Director will be appointed in connection with the closing of a Business
 Combination.

31.4 Prior
 to the closing of a Business Combination, Article 31.3 may only be amended by a Special Resolution
 passed by holders of a majority of at least 90 per cent of the Shares which, being entitled
 to do so, are voted in person or, where proxies are allowed, by proxy at a general meeting
 of which notice specifying the intention to propose the resolution as a Special Resolution
 has been given, or by way of unanimous written resolution.

31.5 The
 Directors may appoint any Person to be a Director, either to fill a vacancy or as an additional
 Director, provided that the appointment does not cause the number of Directors to exceed
 any number fixed by or in accordance with the Articles as the maximum number of Directors.

32. **VACATION OF OFFICE OF DIRECTOR** 

The office of a Director shall be vacated if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Director gives notice in writing to the Company that he resigns the office of Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Director absents himself (for the avoidance of doubt, without being represented by proxy
 or an alternate Director appointed by him) from three consecutive meetings of the board of
 Directors without special leave of absence from the Directors, and the Directors pass a resolution
 that he has by reason of such absence vacated office; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 Director dies, becomes bankrupt or makes any arrangement or composition with his creditors
 generally; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 Director is found to be or becomes of unsound mind; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all
 of the other Directors (being not less than two in number) determine that he should be removed
 as a Director, either by a resolution passed by all of the other Directors at a meeting of
 the Directors duly convened and held in accordance with the Articles or by a resolution in
 writing signed by all of the other Directors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the
 Director is removed from office pursuant to any other provision of the Articles.

33. **PROCEEDINGS OF DIRECTORS** 

33.1 The
 quorum for the transaction of the business of the Directors may be fixed by the Directors,
 and unless so fixed shall be a majority of the Directors then in office. A Person who holds
 office as an alternate Director shall, if his appointor is not present, be counted in the
 quorum. A Director who also acts as an alternate Director shall, if his appointor is not
 present, count twice towards the quorum.

33.2 Subject
 to the provisions of the Articles, the Directors may regulate their proceedings as they think
 fit. Questions arising at any meeting of the Directors shall be decided by a majority of
 votes. In the case of an equality of votes, the chairman shall have a second or casting vote.
 A Director who is also an alternate Director shall be entitled in the absence of his appointor
 to a separate vote on behalf of his appointor in addition to his own vote.

33.3 A
 Person may participate in a meeting of the Directors or any committee of Directors by conference
 telephone, video, a virtual platform or other communications equipment by means of which
 all the Persons participating in the meeting can communicate with each other at the same
 time. Participation by a Person in a meeting in this manner is treated as presence in person
 at that meeting. Unless otherwise determined by the Directors the meeting shall be deemed
 to be held at the place where the chairman is located at the start of the meeting.

33.4 A
 meeting of the Directors or any committee of Directors may be held by conference telephone,
 video, a virtual platform or other communications equipment by which all the Persons participating
 in the meeting can communicate with each other, and participation in such a general meeting
 in such manner shall constitute presence in person at such meeting.

33.5 A
 resolution in writing (in one or more counterparts) signed by all the Directors or all the
 members of a committee of the Directors or, in the case of a resolution in writing relating
 to the removal of any Director or the vacation of office by any Director, all of the Directors
 other than the Director who is the subject of such resolution (an alternate Director being
 entitled to sign such a resolution on behalf of his appointor and if such alternate Director
 is also a Director, being entitled to sign such resolution both on behalf of his appointer
 and in his capacity as a Director) shall be as valid and effectual as if it had been passed
 at a meeting of the Directors, or committee of Directors as the case may be, duly convened
 and held.

33.6 A
 Director or alternate Director may, or other officer of the Company on the direction of a
 Director or alternate Director shall, call a meeting of the Directors by at least two days'
 notice in writing to every Director and alternate Director which notice shall set forth the
 general nature of the business to be considered unless notice is waived by all the Directors
 (or their alternates) either at, before or after the meeting is held. To any such notice
 of a meeting of the Directors all the provisions of the Articles relating to the giving of
 notices by the Company to the Members shall apply *mutatis mutandis*.

33.7 The
 continuing Directors (or a sole continuing Director, as the case may be) may act notwithstanding
 any vacancy in their body, but if and so long as their number is reduced below the number
 fixed by or pursuant to the Articles as the necessary quorum of Directors the continuing
 Directors or Director may act for the purpose of increasing the number of Directors to be
 equal to such fixed number, or of summoning a general meeting of the Company, but for no
 other purpose.

33.8 The
 Directors may elect a chairman of their board and determine the period for which he is to
 hold office, but if no such chairman is elected, or if at any meeting the chairman is not
 present within five minutes after the time appointed for the meeting to commence, the Directors
 present may choose one of their number to be chairman of the meeting.

33.9 Subject
 to any regulations imposed on it by the Directors, including where the Directors have designated
 a chairman of the committee, a committee appointed by the Directors may elect a chairman
 of its meetings and determine the period for which he is to hold office; but if no such chairman
 is elected, or if at any meeting the chairman is not present within five minutes after the
 time appointed for the meeting to commence, the committee members present may choose one
 of their number to be chairman of the meeting.

33.10 A
 committee appointed by the Directors may meet and adjourn as it thinks proper. Subject to
 any regulations imposed on it by the Directors, questions arising at any committee meeting
 shall be determined by a majority of votes of the committee members present and in case of
 an equality of votes the chairman shall have a second or casting vote.

33.11 All
 acts done by any meeting of the Directors or of a committee of the Directors (including any
 Person acting as an alternate Director) shall, notwithstanding that it is afterwards discovered
 that there was some defect in the appointment of any Director or alternate Director, and/or
 that they or any of them were disqualified, and/or had vacated their office and/or were not
 entitled to vote, be as valid as if every such Person had been duly appointed and/or not
 disqualified to be a Director or alternate Director and/or had not vacated their office and/or
 had been entitled to vote, as the case may be.

33.12 A
 Director (but not an alternate Director) may be represented at any meetings of the board
 of Directors by a proxy appointed in writing by him. The proxy shall count towards the quorum
 and the vote of the proxy shall for all purposes be deemed to be that of the appointing Director.

34. **PRESUMPTION OF ASSENT** 

A Director or alternate Director who is present at a meeting of the board of Directors at which action on any Company matter is taken shall be presumed to have assented to the action taken unless his dissent shall be entered in the minutes of the meeting or unless he shall file his written dissent from such action with the Person acting as the chairman or secretary of the meeting before the adjournment thereof or shall forward such dissent by registered post to such Person immediately after the adjournment of the meeting. Such right to dissent shall not apply to a Director or alternate Director who voted in favour of such action.

35. **DIRECTORS' INTERESTS** 

35.1 A
 Director or alternate Director may hold any other office or place of profit under the Company
 (other than the office of Auditor) in conjunction with his office of Director for such period
 and on such terms as to remuneration and otherwise as the Directors may determine.

35.2 A
 Director or alternate Director may act by himself or by, through or on behalf of his firm,
 in a professional capacity for the Company and he or his firm shall be entitled to remuneration
 for professional services as if he were not a Director or alternate Director.

35.3 A
 Director or alternate Director may be or become a director or other officer of or otherwise
 interested in any company promoted by the Company or in which the Company may be interested
 as a shareholder, a contracting party or otherwise, and no such Director or alternate Director
 shall be accountable to the Company for any remuneration or other benefits received by him
 as a director or officer of, or from his interest in, such other company.

35.4 No
 Person shall be disqualified from the office of Director or alternate Director or prevented
 by such office from contracting with the Company, either as vendor, purchaser or otherwise,
 nor shall any such contract or any contract or transaction entered into by or on behalf of
 the Company in which any Director or alternate Director shall be in any way interested be
 or be liable to be avoided, nor shall any Director or alternate Director so contracting or
 being so interested be liable to account to the Company for any profit realised by or arising
 in connection with any such contract or transaction by reason of such Director or alternate
 Director holding office or of the fiduciary relationship thereby established. A Director
 (or his alternate Director in his absence) shall be at liberty to vote in respect of any
 contract or transaction in which he is interested provided that the nature of the interest
 of any Director (or alternate Director) in any such contract or transaction shall be disclosed
 by him at or prior to its consideration and any vote thereon.

35.5 A
 general notice that a Director or alternate Director is a shareholder, director, officer
 or employee of any specified firm or company and is to be regarded as interested in any transaction
 with such firm or company shall be sufficient disclosure for the purposes of voting on a
 resolution in respect of a contract or transaction in which he has an interest, and after
 such general notice it shall not be necessary to give special notice relating to any particular
 transaction.

36. **MINUTES** 

36.1 The
 Directors shall cause minutes to be made in books kept for the purpose of recording all appointments
 of officers made by the Directors, all proceedings at meetings of the Company or the holders
 of any class of Shares and of the Directors, and of committees of the Directors, including
 the names of the Directors or alternate Directors present at each meeting.

36.2 When
 the chairman of a meeting of the Directors or of a committee of the Directors signs the minutes
 of such meeting the same shall be deemed to have been duly held notwithstanding that all
 the Directors have not actually come together or that there may have been a technical defect
 in the proceedings.

37. **DELEGATION OF DIRECTORS' POWERS** 

37.1 The
 Directors may delegate any of their powers, authorities and discretions, including the power
 to sub-delegate, to any committee consisting of one or more Directors (including, without
 limitation, the Audit Committee, the Compensation Committee and the Nominating and Corporate
 Governance Committee); any committee so formed shall in the exercise of the powers so delegated
 conform to any conditions that may be imposed on it by the Directors. The Directors may also
 delegate to any managing director or any Director holding any other executive office such
 of their powers, authorities and discretions as they consider desirable to be exercised by
 him provided that an alternate Director may not act as managing director and the appointment
 of a managing director shall be revoked forthwith if he ceases to be a Director. Any such
 delegation may be made subject to any conditions the Directors may impose and either collaterally
 with or to the exclusion of their own powers and any such delegation may be revoked or altered
 by the Directors. Subject to any such conditions that may be imposed by the Directors, the
 proceedings of a committee of Directors shall be governed by the Articles regulating the
 proceedings of Directors, so far as they are capable of applying.

37.2 The
 Directors may establish an Advisory Board and any other committees, local boards or agencies
 or appoint any Person to be a manager or agent for managing the affairs of the Company and
 may appoint any Person to be a member of such Advisory Board, committees, local boards or
 agencies and such Person need not be a Director or officer of the Company. Any such appointment
 may be made subject to any conditions the Directors may impose, and either collaterally with
 or to the exclusion of their own powers and any such appointment may be revoked or altered
 by the Directors. Subject to any such conditions that may be imposed by the Directors, the
 proceedings of any such committee, local board or agency shall be governed by the Articles
 regulating the proceedings of Directors, so far as they are capable of applying.

37.3 The
 Directors may adopt formal written charters for committees. Each of the Audit Committee,
 the Compensation Committee and the Nominating and Corporate Governance Committee, if established,
 shall consist of such number of Directors as the Directors shall from time to time determine.

37.4 The
 Directors may by power of attorney or otherwise appoint any Person to be the agent of the
 Company on such conditions as the Directors may determine, provided that the delegation is
 not to the exclusion of their own powers and may be revoked by the Directors at any time.

37.5 The
 Directors may by power of attorney or otherwise appoint any company, firm, Person or body
 of Persons, whether nominated directly or indirectly by the Directors, to be the attorney
 or authorised signatory of the Company for such purpose and with such powers, authorities
 and discretions (not exceeding those vested in or exercisable by the Directors under the
 Articles) and for such period and subject to such conditions as they may think fit, and any
 such powers of attorney or other appointment may contain such provisions for the protection
 and convenience of Persons dealing with any such attorneys or authorised signatories as the
 Directors may think fit and may also authorise any such attorney or authorised signatory
 to delegate all or any of the powers, authorities and discretions vested in him.

37.6 The
 Directors may from time to time appoint any Person, whether or not a Director, to hold such
 office in the Company as the Directors may think necessary for the administration of the
 Company (including, for the avoidance of doubt and without limitation, a chairman, chief
 executive officer, president, chief operating officer, chief financial officer, vice-presidents,
 secretary, assistant secretaries, treasurer or any other officers as may be determined by
 the Directors), for such term and at such remuneration (whether by way of salary or commission
 or participation in profits or partly in one way and partly in another), and with such powers
 and duties as the Directors may think fit. Any Person so appointed by the Directors may be
 removed by resolution of the Directors or by the Company by Ordinary Resolution. An officer
 of the Company may vacate his office at any time if he gives notice in writing to the Company
 that he resigns his office.

38. **ALTERNATE DIRECTORS** 

38.1 Any
 Director (but not an alternate Director) may by writing appoint any other Director, or any
 other Person willing to act, to be an alternate Director and by writing may remove from office
 an alternate Director so appointed by him.

38.2 An
 alternate Director shall be entitled to receive notice of all meetings of Directors and of
 all meetings of committees of Directors of which his appointor is a member, to attend and
 vote at every such meeting at which the Director appointing him is not personally present,
 to sign any written resolution of the Directors (except where such written resolution of
 the Directors have been signed by the appointing Director), and generally to perform all
 the functions of his appointor as a Director in his absence.

38.3 An
 alternate Director shall cease to be an alternate Director if his appointor ceases to be
 a Director.

38.4 Any
 appointment or removal of an alternate Director shall be by notice to the Company signed
 by the Director making or revoking the appointment or in any other manner approved by the
 Directors.

38.5 Subject
 to the provisions of the Articles, an alternate Director shall be deemed for all purposes
 to be a Director and shall alone be responsible for his own acts and defaults and shall not
 be deemed to be the agent of the Director appointing him.

39. **NO MINIMUM SHAREHOLDING** 

The Company in general meeting may fix a minimum shareholding required to be held by a Director, but unless and until such a shareholding qualification is fixed, a Director is not required to hold Shares.

40. **REMUNERATION OF DIRECTORS** 

40.1 The
 remuneration to be paid to the Directors, if any, shall be such remuneration as the Directors
 shall determine. The Directors shall also be entitled to be paid all travelling, hotel and
 other expenses properly incurred by them in connection with their attendance at meetings
 of Directors or committees of Directors, or general meetings of the Company, or separate
 meetings of the holders of any class of Shares or debentures of the Company, or otherwise
 in connection with the business of the Company or the discharge of their duties as a Director,
 or to receive a fixed allowance in respect thereof as may be determined by the Directors,
 or a combination partly of one such method and partly the other.

40.2 The
 Directors may by resolution approve additional remuneration to any Director for any services
 which in the opinion of the Directors go beyond his ordinary routine work as a Director.
 Any fees paid to a Director who is also counsel, attorney or solicitor to the Company, or
 otherwise serves it in a professional capacity, shall be in addition to his remuneration
 as a Director.

41. **SEAL** 

41.1 The
 Company may, if the Directors so determine, have a Seal. The Seal shall only be used by the
 authority of the Directors or of a committee of the Directors authorised by the Directors.
 Every instrument to which the Seal has been affixed shall be signed by at least one Person
 who shall be either a Director or officer of the Company or other Person appointed by the
 Directors for the purpose.

41.2 The
 Company may have for use in any place or places outside of the Cayman Islands a duplicate
 Seal or Seals each of which shall be a facsimile of the common Seal of the Company and, if
 the Directors so determine, with the addition on its face of the name of every place where
 it is to be used.

41.3 A
 Director or officer, representative or attorney of the Company may without further authority
 of the Directors affix the Seal over his signature alone to any document of the Company required
 to be authenticated by him under seal or to be filed with the Registrar of Companies in the
 Cayman Islands or elsewhere wheresoever.

42. **DIVIDENDS, DISTRIBUTIONS AND RESERVE** 

42.1 Subject
 to the Statute and this Article and except as otherwise provided by the rights attached to
 any Shares, the Directors may resolve to pay Dividends and other distributions on Shares
 in issue and authorise payment of the Dividends or other distributions out of the funds of
 the Company lawfully available therefor. A Dividend shall be deemed to be an interim Dividend
 unless the terms of the resolution pursuant to which the Directors resolve to pay such Dividend
 specifically state that such Dividend shall be a final Dividend. No Dividend or other distribution
 shall be paid except out of the realised or unrealised profits of the Company, out of the
 Share Premium Account or as otherwise permitted by law.

42.2 Except
 as otherwise provided by the rights attached to any Shares, all Dividends and other distributions
 shall be paid according to the par value of the Shares that a Member holds. If any Share
 is issued on terms providing that it shall rank for Dividend as from a particular date, that
 Share shall rank for Dividend accordingly.

42.3 The
 Directors may deduct from any Dividend or other distribution payable to any Member all sums
 of money (if any) then payable by him to the Company on account of calls or otherwise.

42.4 The
 Directors may resolve that any Dividend or other distribution be paid wholly or partly by
 the distribution of specific assets and in particular (but without limitation) by the distribution
 of shares, debentures, or securities of any other company or in any one or more of such ways
 and where any difficulty arises in regard to such distribution, the Directors may settle
 the same as they think expedient and in particular may issue fractional Shares and may fix
 the value for distribution of such specific assets or any part thereof and may determine
 that cash payments shall be made to any Members upon the basis of the value so fixed in order
 to adjust the rights of all Members and may vest any such specific assets in trustees in
 such manner as may seem expedient to the Directors.

42.5 Except
 as otherwise provided by the rights attached to any Shares, Dividends and other distributions
 may be paid in any currency. The Directors may determine the basis of conversion for any
 currency conversions that may be required and how any costs involved are to be met.

42.6 The
 Directors may, before resolving to pay any Dividend or other distribution, set aside such
 sums as they think proper as a reserve or reserves which shall, at the discretion of the
 Directors, be applicable for any purpose of the Company and pending such application may,
 at the discretion of the Directors, be employed in the business of the Company.

42.7 Any
 Dividend, other distribution, interest or other monies payable in cash in respect of Shares
 may be paid by wire transfer to the holder or by cheque or warrant sent through the post
 directed to the registered address of the holder or, in the case of joint holders, to the
 registered address of the holder who is first named on the Register of Members or to such
 Person and to such address as such holder or joint holders may in writing direct. Every such
 cheque or warrant shall be made payable to the order of the Person to whom it is sent. Any
 one of two or more joint holders may give effectual receipts for any Dividends, other distributions,
 bonuses, or other monies payable in respect of the Share held by them as joint holders.

42.8 No
 Dividend or other distribution shall bear interest against the Company.

42.9 Any
 Dividend or other distribution which cannot be paid to a Member and/or which remains unclaimed
 after six months from the date on which such Dividend or other distribution becomes payable
 may, in the discretion of the Directors, be paid into a separate account in the Company's
 name, provided that the Company shall not be constituted as a trustee in respect of that
 account and the Dividend or other distribution shall remain as a debt due to the Member.
 Any Dividend or other distribution which remains unclaimed after a period of six years from
 the date on which such Dividend or other distribution becomes payable shall be forfeited
 and shall revert to the Company.

43. **CAPITALISATION** 

The Directors may at any time capitalise any sum standing to the credit of any of the Company's reserve accounts or funds (including the Share Premium Account and capital redemption reserve fund) or any sum standing to the credit of the profit and loss account or otherwise available for distribution; appropriate such sum to Members in the proportions in which such sum would have been divisible amongst such Members had the same been a distribution of profits by way of Dividend or other distribution; and apply such sum on their behalf in paying up in full unissued Shares for allotment and distribution credited as fully paid-up to and amongst them in the proportion aforesaid. In such event the Directors shall do all acts and things required to give effect to such capitalisation, with full power given to the Directors to make such provisions as they think fit in the case of Shares becoming distributable in fractions (including provisions whereby the benefit of fractional entitlements accrue to the Company rather than to the Members concerned). The Directors may authorise any Person to enter on behalf of all of the Members interested into an agreement with the Company providing for such capitalisation and matters incidental or relating thereto and any agreement made under such authority shall be effective and binding on all such Members and the Company.

44. **SHARE PREMIUM ACCOUNT** 

44.1 The
 Directors shall in accordance with the Statute establish a Share Premium Account and shall
 carry to the credit of such account from time to time a sum equal to the amount or value
 of the premium paid on the issue of any Share.

44.2 There
 shall be debited to any Share Premium Account on the redemption or purchase of a Share the
 difference between the nominal value of such Share and the redemption or purchase price provided
 always that at the determination of the Directors such sum may be paid out of the profits
 of the Company or, if permitted by the Statute, out of capital.

45. **BOOKS OF ACCOUNT** 

45.1 The
 Directors shall cause proper books of account (including, where applicable, material underlying
 documentation including contracts and invoices) to be kept with respect to all sums of money
 received and expended by the Company and the matters in respect of which the receipt or expenditure
 takes place, all sales and purchases of goods by the Company and the assets and liabilities
 of the Company. Such books of account must be retained for a minimum period of five years
 from the date on which they are prepared. Proper books shall not be deemed to be kept if
 there are not kept such books of account as are necessary to give a true and fair view of
 the state of the Company's affairs and to explain its transactions.

45.2 The
 Directors shall determine whether and to what extent and at what times and places and under
 what conditions or regulations the accounts and books of the Company or any of them shall
 be open to the inspection of Members not being Directors and no Member (not being a Director)
 shall have any right of inspecting any account or book or document of the Company except
 as conferred by Statute or authorised by the Directors or by the Company in general meeting.

45.3 The
 Directors may cause to be prepared and to be laid before the Company in general meeting profit
 and loss accounts, balance sheets, group accounts (if any) and such other reports and accounts
 as may be required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46. **AUDIT** 

46.1 The
 Directors may appoint an Auditor of the Company who shall hold office on such terms as the
 Directors determine.

46.2 If
 the office of Auditor becomes vacant by resignation or death of the Auditor, or by his becoming
 incapable of acting by reason of illness or other disability at a time when his services
 are required, the Directors shall fill the vacancy.

46.3 Every
 Auditor of the Company shall have a right of access at all times to the books and accounts
 and vouchers of the Company and shall be entitled to require from the Directors and officers
 of the Company such information and explanation as may be necessary for the performance of
 the duties of the Auditor.

46.4 Auditors
 shall, if so required by the Directors, make a report on the accounts of the Company during
 their tenure of office at the next annual general meeting following their appointment in
 the case of a company which is registered with the Registrar of Companies as an ordinary
 company, and at the next extraordinary general meeting following their appointment in the
 case of a company which is registered with the Registrar of Companies as an exempted company,
 and at any other time during their term of office, upon request of the Directors or any general
 meeting of the Company.

46.5 Without
 prejudice to the freedom of the Directors to establish any other committee, if any of the
 Shares (or depositary receipts therefor) are listed or quoted on a Designated Stock Exchange,
 and if required by the rules of the Designated Stock Exchange, the Directors shall establish
 and maintain an Audit Committee as a committee of the board of Directors and shall adopt
 a formal written audit committee charter and review and assess the adequacy of the formal
 written charter on an annual basis. The composition and responsibilities of the Audit Committee
 shall comply with the rules and regulations of the Designated Stock Exchange, the SEC and/or
 any other competent regulatory authority.

46.6 If
 any of the Shares (or depositary receipts therefor) are listed or quoted on a Designated
 Stock Exchange, the Company shall conduct an appropriate review of all related party transactions
 on an ongoing basis and shall utilise the Audit Committee for the review and approval of
 potential conflicts of interest.

46.7 The
 remuneration of the Auditor shall be fixed by the Audit Committee (if one exists) or otherwise
 by the Directors.

46.8 Any
 payment made to members of the Audit Committee (if one exists) shall require the review and
 approval of the Directors, with any Director interested in such payment abstaining from such
 review and approval.

46.9 If
 any of the Shares (or depositary receipts therefor) are listed or quoted on a Designated
 Stock Exchange, the Audit Committee shall monitor compliance with the terms of the IPO and,
 if any non-compliance is identified, the Audit Committee shall be charged with the responsibility
 to take all action necessary to rectify such non-compliance or otherwise cause compliance
 with the terms of the IPO.

47. **NOTICES** 

47.1 Notices
 shall be in writing and may be given by the Company to any Member either personally or by
 sending it by courier, post, cable, telex, fax or e-mail to him or to his address as shown
 in the Register of Members (or where the notice is given by e-mail by sending it to the e-mail
 address provided by such Member).

47.2 Where
 a notice is sent by courier, service of the notice shall be deemed to be effected by delivery
 of the notice to a courier company, and shall be deemed to have been received on the third
 day (not including Saturdays or Sundays or public holidays in the Cayman Islands) following
 the day on which the notice was delivered to the courier. Where a notice is sent by post,
 service of the notice shall be deemed to be effected by properly addressing, pre paying and
 posting a letter containing the notice, and shall be deemed to have been received on the
 fifth day (not including Saturdays or Sundays or public holidays in the Cayman Islands) following
 the day on which the notice was posted. Where a notice is sent by cable, telex or fax, service
 of the notice shall be deemed to be effected by properly addressing and sending such notice
 and shall be deemed to have been received on the same day that it was transmitted. Where
 a notice is given by e-mail, service shall be deemed to be effected by transmitting the e-mail
 to the e-mail address provided by the intended recipient and shall be deemed to have been
 received on the same day that it was sent, and it shall not be necessary for the receipt
 of the e-mail to be acknowledged by the recipient.

47.3 A
 notice may be given by the Company to the Person or Persons which the Company has been advised
 are entitled to a Share or Shares in consequence of the death or bankruptcy of a Member in
 the same manner as other notices which are required to be given under the Articles and shall
 be addressed to them by name, or by the title of representatives of the deceased, or trustee
 of the bankrupt, or by any like description at the address supplied for that purpose by the
 Persons claiming to be so entitled, or at the option of the Company by giving the notice
 in any manner in which the same might have been given if the death or bankruptcy had not
 occurred.

47.4 Notice
 of every general meeting shall be given in any manner authorised by the Articles to every
 holder of Shares carrying an entitlement to receive such notice on the record date for such
 meeting except that in the case of joint holders the notice shall be sufficient if given
 to the joint holder first named in the Register of Members and every Person upon whom the
 ownership of a Share devolves by reason of his being a legal personal representative or a
 trustee in bankruptcy of a Member where the Member but for his death or bankruptcy would
 be entitled to receive notice of the meeting, and no other Person shall be entitled to receive
 notices of general meetings.

48. **WINDING UP** 

48.1 If
 the Company shall be wound up, the liquidator shall apply the assets of the Company in satisfaction
 of creditors' claims in such manner and order as such liquidator thinks fit. Subject
 to the rights attaching to any Shares, in a winding up:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 the assets available for distribution amongst the Members shall be insufficient to repay
 the whole of the Company's issued share capital, such assets shall be distributed so
 that, as nearly as may be, the losses shall be borne by the Members in proportion to the
 par value of the Shares held by them; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 the assets available for distribution amongst the Members shall be more than sufficient to
 repay the whole of the Company's issued share capital at the commencement of the winding
 up, the surplus shall be distributed amongst the Members in proportion to the par value of
 the Shares held by them at the commencement of the winding up subject to a deduction from
 those Shares in respect of which there are monies due, of all monies payable to the Company
 for unpaid calls or otherwise.

48.2 If
 the Company shall be wound up the liquidator may, subject to the rights attaching to any
 Shares and with the approval of a Special Resolution of the Company and any other approval
 required by the Statute, divide amongst the Members in kind the whole or any part of the
 assets of the Company (whether such assets shall consist of property of the same kind or
 not) and may for that purpose value any assets and determine how the division shall be carried
 out as between the Members or different classes of Members. The liquidator may, with the
 like approval, vest the whole or any part of such assets in trustees upon such trusts for
 the benefit of the Members as the liquidator, with the like approval, shall think fit, but
 so that no Member shall be compelled to accept any asset upon which there is a liability.

49. **INDEMNITY AND INSURANCE** 

49.1 Every
 Director and officer of the Company (which for the avoidance of doubt, shall not include
 Auditors of the Company), together with every former Director and former officer of the Company
 (each an **Indemnified Person**) shall be indemnified out of the assets of the Company
 against any liability, action, proceeding, claim, demand, costs, damages or expenses, including
 legal expenses, whatsoever which they or any of them may incur as a result of any act or
 failure to act in carrying out their functions other than such liability (if any) that they
 may incur by reason of their own actual fraud, wilful default or wilful neglect. No Indemnified
 Person shall be liable to the Company for any loss or damage incurred by the Company as a
 result (whether direct or indirect) of the carrying out of their functions unless that liability
 arises through the actual fraud, wilful default or wilful neglect of such Indemnified Person.
 No Person shall be found to have committed actual fraud, wilful default or wilful neglect
 under this Article unless or until a court of competent jurisdiction shall have made a finding
 to that effect.

49.2 The
 Company shall advance to each Indemnified Person reasonable attorneys' fees and other
 costs and expenses incurred in connection with the defence of any action, suit, proceeding
 or investigation involving such Indemnified Person for which indemnity will or could be sought.
 In connection with any advance of any expenses hereunder, the Indemnified Person shall execute
 an undertaking to repay the advanced amount to the Company if it shall be determined by final
 judgment or other final adjudication that such Indemnified Person was not entitled to indemnification
 pursuant to this Article. If it shall be determined by a final judgment or other final adjudication
 that such Indemnified Person was not entitled to indemnification with respect to such judgment,
 costs or expenses, then such party shall not be indemnified with respect to such judgment,
 costs or expenses and any advancement shall be returned to the Company (without interest)
 by the Indemnified Person.

49.3 The
 Directors, on behalf of the Company, may purchase and maintain insurance for the benefit
 of any Director or officer of the Company against any liability which, by virtue of any rule
 of law, would otherwise attach to such Person in respect of any negligence, default, breach
 of duty or breach of trust of which such Person may be guilty in relation to the Company.

49.4 The
 rights to indemnification and advancement of expenses conferred on any Indemnified Person
 as set out in this Article will not be exclusive of any other rights that any Indemnified
 Person may have or hereafter acquire.

50. **FINANCIAL YEAR** 

Unless the Directors otherwise prescribe, the financial year of the Company shall end on 31st July in each year and, following the year of incorporation, shall begin on 1st August in each year.

51. **TRANSFER BY WAY OF CONTINUATION** 

51.1 If
 the Company is exempted as defined in the Statute, it shall, subject to the provisions of
 the Statute and with the approval of a Special Resolution passed in accordance with this
 Article, have the power to register by way of continuation as a body corporate under the
 laws of any jurisdiction outside of the Cayman Islands and to be deregistered in the Cayman
 Islands.

51.2 Prior
 to the closing of an initial Business Combination, only holders of Class B Shares will have
 the right to vote on any resolution of the shareholders to approve any transfer by way of
 continuation pursuant to this Article 51.2 (including in any Special Resolution required
 to amend Article 51.2 or to adopt new Articles, in each case, as a result of the Company
 approving a transfer by way of continuation in a jurisdiction outside of the Cayman Islands).

52. **MERGERS AND CONSOLIDATIONS** 

The Company shall have the power to merge or consolidate with one or more other constituent companies (as defined in the Statute) upon such terms as the Directors may determine and (to the extent required by the Statute) with the approval of a Special Resolution.

53. **DISCLOSURE** 

The Directors, officers of the Company or any authorised service providers (including the registered office agent of the Company), shall be entitled to disclose to any regulatory or judicial authority, or to any Designated Stock Exchange on which the Shares may from time to time be listed, any information regarding the affairs of the Company including, without limitation, information contained in the Register of Members and books of the Company.

54. **BUSINESS COMBINATION** 

54.1 Notwithstanding
 any other provision of the Articles, this Article shall apply during the period commencing
 upon the adoption of the Articles and terminating upon the first to occur of the consummation
 of any Business Combination and the full distribution of the Trust Account pursuant to this
 Article. In the event of a conflict between this Article and any other Articles, the provisions
 of this Article shall prevail.

54.2 Prior
 to the consummation of any Business Combination, the Company shall either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) submit
 such Business Combination to the Members for approval; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) provide
 Members with the opportunity to have their Public Shares repurchased by means of a tender
 offer for a per-Share repurchase price payable in cash, equal to the aggregate amount then
 on deposit in the Trust Account calculated as of two business days prior to the consummation
 of the Business Combination, including interest earned on the funds held in the Trust Account
 and not previously released to pay income taxes, if any, divided by the number of Public
 Shares then in issue, provided that the Company shall not repurchase Public Shares in an
 amount that would exceed the Redemption Limitation. Such obligation to repurchase Public
 Shares is subject to the completion of the proposed Business Combination to which it relates.

54.3 If
 the Company initiates any tender offer in accordance with Rule 13e-4 and Regulation 14E of
 the US Exchange Act in connection with a Business Combination, it shall file tender offer
 documents with the SEC prior to completing a Business Combination which contain substantially
 the same financial and other information about such Business Combination and the redemption
 rights as is required under Regulation 14A of the US Exchange Act. If, alternatively, the
 Company holds a Member vote to approve a proposed Business Combination, the Company will
 conduct any redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A
 of the US Exchange Act, and not pursuant to the tender offer rules, and file proxy materials
 with the SEC.

54.4 At
 a general meeting called for the purposes of approving a Business Combination pursuant to
 this Article, in the event that such Business Combination is approved by Ordinary Resolution,
 the Company shall be authorised to consummate such Business Combination, provided that the
 Company shall not consummate such Business Combination unless the Company has net tangible
 assets of at least US$5,000,001 immediately prior to or upon such consummation of, or any
 greater net tangible asset or cash requirement that may be contained in the agreement relating
 to, such Business Combination (the **Redemption Limitation**).

54.5 Any
 Member holding Public Shares who is not a Founder, Director or officer of the Company may,
 at least two business days prior to any vote on a Business Combination, elect to have their
 Public Shares redeemed for cash (the **IPO Redemption**), provided that no such Member
 acting together with any Affiliate of his or any other Person with whom he is acting in concert
 or as a "group" (as defined under Section 13 of the Exchange Act) may exercise
 this redemption right with respect to more than 15 per cent of the Public Shares in the aggregate
 without the prior consent of the Company, and provided further that any beneficial holder
 of Public Shares on whose behalf a redemption right is being exercised must identify itself
 to the Company in connection with any redemption election in order to validly redeem such
 Public Shares. In connection with any vote held to approve a proposed Business Combination,
 holders of Public Shares seeking to exercise their redemption rights will be required to
 either tender their certificates (if any) to the Company's transfer agent or to deliver
 their shares to the transfer agent electronically using The Depository Trust Company's
 DWAC (Deposit/Withdrawal At Custodian) System, at the holder's option, in each case
 up to two business days prior to the initially scheduled vote on the proposal to approve
 a Business Combination and comply with any other applicable requirements provided for in
 the related proxy materials. If so demanded, the Company shall pay any such redeeming Member,
 regardless of whether he is voting for or against such proposed Business Combination, a per-Share
 redemption price payable in cash, equal to the aggregate amount then on deposit in the Trust
 Account calculated as of two business days prior to the consummation of the Business Combination,
 including interest earned on the funds held in the Trust Account (net of taxes payable),
 divided by the number of Public Shares then in issue (such redemption price being referred
 to herein as the **Redemption Price**), provided that the Company shall not redeem Public
 Shares in an amount that would exceed the Redemption Limitation. The Redemption Price shall
 be paid promptly following the consummation of the relevant Business Combination. If the
 proposed Business Combination is not approved or completed for any reason then such redemptions
 shall be cancelled and share certificates (if any) returned to the relevant Members as appropriate.

54.6 In
 the event that either (a) the Company does not consummate a Business Combination within the
 Completion Window or (b) a resolution is passed pursuant to the Statute to commence the voluntary
 liquidation of the Company prior to the consummation of a Business Combination for any reason,
 the Company shall: (i) cease all operations except for the purpose of winding up; (ii) as
 promptly as reasonably possible but not more than ten business days thereafter, redeem the
 Public Shares, at a per-Share price, payable in cash, equal to the aggregate amount then
 on deposit in the Trust Account, including interest earned on the funds held in the Trust
 Account and not previously released to pay income taxes, if any (net of taxes payable and
 less up to US$100,000 of interest to pay dissolution expenses), divided by the number of
 Public Shares then in issue, which redemption will completely extinguish the rights of the
 holders of Public Shares as Members (including the right to receive further liquidation distributions,
 if any); and (iii) as promptly as reasonably possible following such redemption, subject
 to the approval of the Company's remaining Members and the Directors, liquidate and
 dissolve, subject in the case of (ii) and (iii) to its obligations under Cayman Islands law
 to provide for claims of creditors and in all cases subject to the other requirements of
 Applicable Law.

54.7 In
 the event that any amendment is made to the Articles (a) to modify the substance or timing
 of the Company's obligation to allow redemption in connection with a Business Combination
 or redeem 100 per cent of the Public Shares if the Company does not consummate a Business
 Combination within the Completion Window or (b) with respect to any other provision of the
 Articles relating to the rights of holders of Class A Shares, each holder of Public Shares
 who is not a Founder, Director or officer of the Company shall be provided with the opportunity
 to redeem their Public Shares upon the approval of any such amendment at a per-Share price,
 payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
 interest earned on the funds held in the Trust Account (net of taxes payable), divided by
 the number of Public Shares then in issue, provided that the Company shall not redeem Public
 Shares in an amount that would cause the Company's net tangible assets to be less than
 US$5,000,001 following such redemption.

54.8 A
 Member may not withdraw a Redemption Notice once submitted to the Company unless the Directors
 determine (in their sole discretion) to permit the withdrawal of such redemption request
 (which they may do in whole or in part).

54.9 A
 holder of Public Shares shall be entitled to receive distributions from the Trust Account
 only in the event of an IPO Redemption, a repurchase of Shares by means of a tender offer
 pursuant to this Article, or a distribution of the Trust Account pursuant to this Article.
 In no other circumstance shall a holder of Public Shares have any right or interest of any
 kind in the Trust Account.

54.10 After
 the issue of Public Shares, and prior to the consummation of a Business Combination, the
 Company shall not issue additional Shares or any other securities that would entitle the
 holders thereof to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) receive
 funds from the Trust Account; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) vote
 as a class with Public Shares on the Company's initial Business Combination.

54.11 As
 long as the securities of the Company are listed on the Designated Stock Exchange, the Company
 must complete one or more Business Combinations having an aggregate fair market value of
 at least 80 per cent of the value of the assets held in the Trust Account (excluding any
 deferred underwriting commissions and taxes payable on the interest earned on the Trust Account)
 at the time of the Company's signing a definitive agreement in connection with a Business
 Combination. An initial Business Combination must not be effectuated solely with another
 blank cheque company or a similar company with nominal operations.

54.12 A
 Director may vote in respect of any Business Combination in which such Director has a conflict
 of interest with respect to the evaluation of such Business Combination. Such Director must
 disclose such interest or conflict to the other Directors at the time of, or prior to, such
 vote.

54.13 The
 Company's initial Business Combination must be approved by a majority of the independent
 directors (as defined pursuant to the rules and regulations of the Designated Stock Exchange).

54.14 The
 Company may enter into a Business Combination with a target business that is Affiliated with
 the Sponsor, the Directors or officers of the Company if such transaction is approved by
 a majority of the independent directors (as defined pursuant to the rules and regulations
 of the Designated Stock Exchange) and the Directors that do not have an interest in such
 transaction. In the event the Company enters into a Business Combination with a company that
 is Affiliated with the Sponsor, the Directors or officers of the Company, the Company, or
 a committee of independent directors, will obtain an opinion from an independent investment
 banking firm or another independent entity that commonly renders valuation opinions stating
 that the consideration to be paid by the Company in such initial business combination is
 fair to the Company from a financial point of view.

55. **BUSINESS OPPORTUNITIES** 

55.1 To
 the fullest extent permitted by Applicable Law, neither the Investor Group nor any individual
 serving as a Director or officer of the Company (**Management**) shall have any duty,
 except and to the extent expressly assumed by contract, to refrain from engaging directly
 or indirectly in the same or similar business activities or lines of business as the Company.

55.2 To
 the fullest extent permitted by Applicable Law, the Company renounces any interest or expectancy
 of the Company in, or in being offered an opportunity to participate in, any potential transaction
 or matter which may be a corporate opportunity for either the Investor Group or Management,
 on the one hand, and the Company, on the other, unless such opportunity is expressly offered
 to such Management in their capacity as a Director or officer of the Company and the opportunity
 is one the Company is legally and contractually permitted to undertake and would otherwise
 be reasonable for the Company to pursue. To the fullest extent permitted by Applicable Law,
 the Investor Group and Management shall have no duty to communicate or offer any such corporate
 opportunity to the Company and shall not be liable to the Company or its Members for breach
 of any fiduciary duty as a Member, Director and/or officer of the Company solely by reason
 of the fact that such party pursues or acquires such corporate opportunity for itself, himself
 or herself, directs such corporate opportunity to another Person, or does not communicate
 information regarding such corporate opportunity to the Company, unless such opportunity
 is expressly offered to such Management in their capacity as a Director or officer of the
 Company and the opportunity is one the Company is legally and contractually permitted to
 undertake and would otherwise be reasonable for the Company to pursue.

55.3 To
 the extent a court might hold that the conduct of any activity related to a corporate opportunity
 that is renounced in this Article to be a breach of duty to the Company or its Members, the
 Company and (if applicable) each Member hereby waives, to the fullest extent permitted by
 Applicable Law, any and all claims and causes of action that the Company or such Member may
 have for such activities described in this Article. To the fullest extent permitted by Applicable
 Law, the provisions of this Article apply equally to activities conducted in the future and
 that have been conducted in the past.

56. **EXCLUSIVE FORUM** 

56.1 Unless
 the Company consents in writing to the selection of an alternative forum, the courts of the
 Cayman Islands shall have exclusive jurisdiction over any claim or dispute arising out of
 or in connection with the Memorandum, these Articles or otherwise related in any way to each
 Member's shareholding in the Company, including but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any
 derivative action or proceeding brought on behalf of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 action asserting a claim of breach of any fiduciary or other duty owed by any current or
 former Director, Officer or other employee of the Company to the Company or the Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any
 action asserting a claim arising pursuant to any provision of the Statute, the Memorandum
 or these Articles; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any
 action asserting a claim against the Company governed by the "Internal Affairs Doctrine"
 (as such concept is recognised under the laws of the United States of America).

56.2 Each
 Member irrevocably submits to the exclusive jurisdiction of the courts of the Cayman Islands
 over all such claims or disputes.

56.3 Without
 prejudice to any other rights or remedies that the Company may have, each Member acknowledges
 that damages alone would not be an adequate remedy for any breach of the selection of the
 courts of the Cayman Islands as exclusive forum and that accordingly the Company shall be
 entitled, without proof of special damages, to the remedies of injunction, specific performance
 or other equitable relief for any threatened or actual breach of the selection of the courts
 of the Cayman Islands as exclusive forum.

56.4 This
 Article 56 shall not apply to any action or suits brought to enforce any liability or duty

 claim for which the federal district courts of the United States of America are, as a matter
 of the laws of the United States of America, the sole and exclusive forum for determination
 of such a claim.

## Exhibit 10.2

**Exhibit 10.2**

**Securities Subscription Agreement**

Albert Origin Acquisition Corporation

**RE: Securities Subscription Agreement** 

Ladies and Gentlemen:

This agreement (this "**Agreement**") is entered into on July 28, 2025, by and between Issacyan Co., Ltd, a BVI business company (the "**Subscriber**" or "**you**"), and Albert Origin Acquisition Corporation, a Cayman Islands exempted company (the "**Company**"). Pursuant to the terms hereof and in accordance with the memorandum and articles of association of the Company (the "**Articles**"), the Company hereby accepts the offer the Subscriber has made to subscribe for 2,957,143 Class B ordinary shares (the "**Shares**"), par value US$ US$0.0001 per share of the Company. Up to 385,714 of the Shares are subject to forfeiture by you if the underwriters of the proposed initial public offering ("**IPO**") of the Company's securities pursuant to the registration statement on Form S-1 expected to be filed by the Company with the U.S. Securities and Exchange Commission in connection with the IPO (the "**Registration Statement**") do not fully exercise their over-allotment option (the "**Over-allotment Option**"), as described below. The Company and the Subscriber's agreements regarding such Shares are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.**<u>Subscription for Shares</u>**. For the sum of US$25,000, which the Company acknowledges receiving in cash, the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby subscribes for the Shares from the Company, subject to the forfeiture provisions of Section 3 below, on the terms and subject to the conditions set forth in this Agreement. All references in this Agreement to shares of the Company to be forfeited shall take effect as surrenders for no consideration of such shares as a matter of Cayman Islands law.

Concurrently with the Subscriber's execution of this Agreement, the Company shall update its register of members accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2. **<u>Representations, Warranties and Agreements</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.<u>Subscriber's Representations, Warranties and Agreements</u>. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby represents and warrants to the Company and agrees with the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1.<u>No Government Recommendation or Approval</u>. The Subscriber understands that no federal or state agency has passed upon or made any recommendation or endorsement of the offering of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2.<u>No Conflicts</u>. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of the Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party, (iii) any law, statute, rule or regulation to which the Subscriber is subject, or (iv) any agreement, order, judgment or decree to which the Subscriber is subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3.<u>Formation and Authority</u>. The Subscriber is a BVI business company, validly existing and in good standing under the laws of the British Virgin Islands and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

Upon execution and delivery by you, this Agreement will be a legal, valid and binding agreement of the Subscriber, enforceable against the Subscriber in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors' rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.4.<u>Experience, Financial Capability and Suitability</u>. The Subscriber is: (i) sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Shares and (ii) able to bear the economic risk of its investment in the Shares for an indefinite period of time because the Shares have not been registered under the Securities Act (as defined below) and therefore cannot be resold unless subsequently registered under the Securities Act or an exemption from such registration is available. The Subscriber is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests. The Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (x) an effective registration statement under the Securities Act or (y) an exemption from registration available with respect to such sale. The Subscriber is able to bear the economic risks of an investment in the Shares and to afford a complete loss of the Subscriber's investment in the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.5.<u>Access to Information; Independent Investigation</u>. Prior to the execution of this Agreement, the Subscriber has had the opportunity to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all information so obtained. In determining whether to make this investment, the Subscriber has relied solely on the Subscriber's own knowledge and understanding of the Company and its business based upon the Subscriber's own due diligence investigation and the information furnished pursuant to this paragraph. The Subscriber understands that no person has been authorized to give any information or to make any representations which were not furnished pursuant to this Section 2 and the Subscriber has not relied on any other representations or information in making its investment decision, whether written or oral, relating to the Company, its operations or its prospects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.6.<u>Regulation D Offering</u>. Subscriber represents that it is an "accredited investor" as such term is defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the "**Securities Act**") and acknowledges the sale contemplated hereby is being made in reliance on a private placement exemption to "accredited investors" within the meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under state 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;2.1.7.<u>Investment Purposes</u>. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber's own account and not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. The Subscriber did not enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502 of Regulation D 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;2.1.8.<u>Restrictions on Transfer; Shell Company; Affiliate Status</u>. The Subscriber understands the Shares are being offered in a transaction not involving a public offering within the meaning of the Securities Act. Subscriber understands the Shares will be "restricted securities" as defined in Rule 144(a)(3) under the Securities Act and the Subscriber understands that the certificate representing the Shares will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only in accordance with the provisions of Section 5.1 hereof. The Subscriber agrees that if any transfer of its Shares or any interest therein is proposed to be made, as a condition precedent to any such transfer, the Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Subject to a registration or an exemption, the Subscriber agrees not to resell the Shares. The Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available to the Subscriber for the resale of the Shares until one year following consummation of the initial business combination of the Company, despite technical compliance with the certain requirements of Rule 144 and the release or waiver of any contractual transfer restrictions. The Subscriber (a) acknowledges that after the issuance of the Shares, such Subscriber may be deemed an "affiliate" of the Company under the Securities Act, (b) acknowledges understanding the additional restrictions under the Securities Act applicable to affiliate of the Company, and (c) acknowledges that it had a full and fair opportunity and the means to obtain United States securities counsel and discuss such restrictions prior to entering into 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;2.1.9.<u>No Governmental Consents</u>. No governmental, administrative or other third-party consents or approvals are required, necessary or appropriate on the part of the Subscriber in connection with the transactions contemplated by 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;2.1.10. <u>Bad Actor</u>. The Subscriber is not subject to any of the "Bad Actor" disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a "**Disqualification Event**"), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) under the Securities Act. The Subscriber has exercised reasonable care to determine whether he, she or it is subject to a Disqualification Event. The purchase of the Shares will not subject the Company to any Disqualification Event. There are no matters that would have triggered disqualification under Rule 506(d)(1) under the Securities Act but occurred before September 23, 2013.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.11. <u>No Legal Advice from Company</u>. The Subscriber acknowledges that it has had the opportunity to review this Agreement and the transactions contemplated by this Agreement and the other agreements entered into between the parties hereto with its own legal counsel and investment and tax advisors. Except for any statements or representations of the Company made in this Agreement and the other agreements entered into between the parties hereto, the Subscriber is relying solely on such counsel and advisors and not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.12. <u>Reliance on Representations and Warranties</u>. The Subscriber understands the Shares are being offered and sold to it in reliance on exemptions from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations of various states, and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Subscriber set forth in this Agreement in order to determine the applicability of such provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.13.<u>No General Solicitation or General Advertising; No Directed Selling Efforts</u>. The Subscriber is not aware of any form of general solicitation or general advertising (within the meaning of Regulation D) in respect of the Shares, including (a) any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media or broadcast over television, radio, or the internet; and (b) any seminar or meeting whose attendees have been invited by any general solicitation or general advertising.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.<u>Company's Representations, Warranties and Agreements</u>. To induce the Subscriber to subscribe for the Shares, the Company hereby represents and warrants to the Subscriber and agrees with the Subscriber as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.1.<u>Incorporation and Corporate Power</u>. The Company is a Cayman Islands exempted company with limited liability and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement. Upon execution and delivery by the Company, this Agreement will be a legal, valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors' rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.2.<u>No Conflicts</u>. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the Articles, (ii) any agreement, indenture or instrument to which the Company is a party, (iii) any law, statute, rule or regulation to which the Company is subject, or (iv) any agreement, order, judgment or decree to which the Company is subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.3.<u>Title to Securities</u>. Upon issuance in accordance with, and payment pursuant to, the terms hereof, and registration in the Company's register of members, the Shares will be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, and registration in the Company's register of members, the Subscriber will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a) transfer restrictions hereunder and other agreements to which the Shares may be subject which have been notified to the Subscriber in writing, (b) transfer restrictions under federal and state securities laws, and (c) liens, claims or encumbrances imposed due to the actions of the Subscriber.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.4.<u>No Adverse Actions</u>. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement or (ii) question the validity or legality of any transactions or seek to recover damages or to obtain other relief in connection with any transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3. **<u>Forfeiture of Shares</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.<u>Partial or No Exercise of the Over-allotment Option</u>. In the event the Over-allotment Option is not exercised in full, the Subscriber acknowledges and agrees that it (and, if applicable, any transferee of Shares) shall forfeit at the time such Over-allotment Option expires (or earlier if the underwriters of the IPO waive their ability to exercise such Over-allotment Option) any and all rights to such number of Shares (up to an aggregate of 385,714 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and any such transferees), collectively with all other initial shareholders prior to the IPO, if any, will own an aggregate number of Shares (not including ordinary shares issuable upon exercise of any units, conversion of any rights or any Class A ordinary shares subscribed for or purchased by the Subscriber in the IPO or in the aftermarket) equal to 30% of the issued and outstanding ordinary shares immediately of the Company following the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.<u>Termination of Rights as Shareholder</u>. If any of the Shares are forfeited in accordance with this Section 3, then after such time the Subscriber (or successor in interest), shall no longer have any rights as a holder of such Shares, and the Company shall take such action as is appropriate to cancel such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.**<u>Waiver of Liquidation Distributions; Redemption Rights</u>**. In connection with the Shares subscribed for pursuant to this Agreement, the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the trust account which will be established for the benefit of the Company's public shareholders and into which substantially all of the proceeds of the IPO will be deposited (the "**Trust Account**"), in the event of a liquidation of the Company upon the Company's failure to timely complete an initial business combination. For purposes of clarity, in the event the Subscriber subscribes for ordinary shares in the IPO or in the aftermarket, any additional ordinary shares so subscribed for shall be eligible to receive any liquidating distributions by the Company. However, in no event will the Subscriber have the right to redeem any Shares for funds held in the Trust Account upon the successful completion of an initial business combination by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5. **<u>Restrictions on Transfer</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.<u>Securities Law Restrictions</u>. In addition to any restrictions to be contained in the Articles, that certain letter agreement (commonly known as an "**Insider Letter**") to be dated as of the closing of the IPO by and between the Subscriber and the Company, the Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto (a) a registration statement on the appropriate form under the Securities Act and applicable state securities laws with respect to the Shares proposed to be transferred shall then be effective or (b) the Company has received an opinion from counsel reasonably satisfactory to the Company, that such registration is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated by the Securities and Exchange Commission thereunder and with all applicable state securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2.<u>Lock-up</u>. The Subscriber acknowledges that the Shares will be subject to lock-up provisions (the "**Lock-up**") contained in the Insider Letter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3.<u>Restrictive Legends</u>. All certificates representing the Shares shall have endorsed thereon legends substantially as follows:

"THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE."

"THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PROVISIONS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP PERIOD."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4.<u>Additional Shares or Substituted Securities</u>. In the event of the declaration of a share dividend, the declaration of a special dividend payable in a form other than ordinary shares, a spin-off, a share split, a reverse share split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company's outstanding ordinary shares without receipt of consideration, any new, substituted or additional securities or other property which are by reason of such transaction distributed with respect to any Shares subject to this Section 5.4 or into which such Shares thereby become convertible shall immediately be subject to Section 3 and this Section 5.4. Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number or class of Shares subject to Section 3 or this Section 5.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5.<u>Registration Rights</u>. The Subscriber acknowledges that the Shares are being subscribed for pursuant to an exemption from the registration requirements of the Securities Act and will become freely tradable only after certain conditions are met or they are registered prior to the closing of the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6. **<u>Other Agreements</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.<u>Further Assurances</u>. The Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2.<u>Notices</u>. All notices, statements or other documents which are required or contemplated by this Agreement shall be in writing and delivered: (i) personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3.<u>Entire Agreement</u>. This Agreement, together with that certain Insider Letter to be entered into between the Subscriber and the Company, substantially in the form to be filed as an exhibit to the Registration Statement on Form S-1 associated with the Company's IPO, embodies the entire agreement and understanding between the Subscriber and the Company with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.<u>Modifications and Amendments</u>. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by all parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.<u>Waivers and Consents</u>. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.<u>Assignment</u>. The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7.<u>Benefit</u>. All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as a third-party beneficiary of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8.<u>Governing Law</u>. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the laws of New York applicable to contracts wholly performed within the borders of such state, without giving effect to the conflict of law principles thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9.<u>Severability</u>. In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall nevertheless remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10.<u>No Waiver of Rights, Powers and Remedies</u>. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further action in any circumstances without such notice or demand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.11.<u>Survival of Representations and Warranties</u>. All representations and warranties made by the parties hereto in this Agreement or in any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof and any investigations made by or on behalf of the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.12.<u>No Broker or Finder</u>. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to create any liability on the other. Each of the parties hereto agrees to indemnify and hold the other harmless from any claim or demand for commission or other compensation by any broker, finder, financial consultant or similar agent claiming to have been employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13.<u>Headings and Captions</u>. The headings and captions of the various sections of this Agreement are for convenience of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.14.<u>Counterparts</u>. This Agreement may be executed in one or more counterparts, 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 any other form of electronic delivery, 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 signature page were an original thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15.<u>Construction</u>. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement. The words "*include*," "*includes*," and "*including*" will be deemed to be followed by "*without limitation.*" Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context otherwise requires. The words "*this Agreement*," "*herein*," "*hereof*," "*hereby*," "*hereunder*," and words of similar import refer to this Agreement as a whole and not to any particular section unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.16.<u>Mutual Drafting</u>. This Agreement is the joint product of the Subscriber and the Company and each provision hereof has been subject to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.**<u>Voting and Redemption of Shares</u>**. The Subscriber agrees to vote the Shares in favor of an initial business combination that the Company negotiates and submits for approval to the Company's shareholders and shall not seek redemption with respect to such Shares. Additionally, the Subscriber agrees not to redeem any Shares in connection with a redemption or tender offer presented to the Company's shareholders in connection with an initial business combination negotiated by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.**<u>Indemnification</u>**. Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney's fees and expenses) incurred as a result of such party's breach of any representation, warranty, covenant or agreement in this Agreement.

*[Signature Page Follows]*

 

If the foregoing accurately sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

Very truly yours,

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| | |
|:---|:---|
| **Albert Origin Acquisition Corporation** | **Albert Origin Acquisition Corporation** |
| By: | */s/ Bo Yan* |
| Name: | Bo Yan |
| Title: | Director |

---

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| | |
|:---|:---|
| **Issacyan Co., Ltd** | **Issacyan Co., Ltd** |
| By: | */s/ Bo Yan* |
| Name: | Bo Yan |
| Title: | Director |

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*[Signature Page to Securities Subscription Agreement]*

## Exhibit 99.1

**Exhibit 99.1**

**Consent to be Named as a Director Nominee**

In connection with the filing by Albert Origin Acquisition Corporation of the Registration Statement on Form S-1 with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "Securities Act"), I hereby consent, pursuant to Rule 438 of the Securities Act, to being named as a nominee to the board of directors of Albert Origin Acquisition Corporation in the Registration Statement and any and all amendments and supplements thereto. I also consent to the filing of this consent as an exhibit to such Registration Statement and any amendments thereto.

Dated: September 30, 2025

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| |
|:---|
| */s/ Xiangyi Chen* |
| Xiangyi Chen |

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## Exhibit 99.2

**Exhibit 99.2**

**Consent to be Named as a Director Nominee**

In connection with the filing by Albert Origin Acquisition Corporation of the Registration Statement on Form S-1 with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "Securities Act"), I hereby consent, pursuant to Rule 438 of the Securities Act, to being named as a nominee to the board of directors of Albert Origin Acquisition Corporation in the Registration Statement and any and all amendments and supplements thereto. I also consent to the filing of this consent as an exhibit to such Registration Statement and any amendments thereto.

Dated: September 30, 2025

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| |
|:---|
| */s/ Yan Leng* |
| Yan Leng |

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