Document:

Exhbit 4.3
THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE COMPANY’S PROSPECTUS DATED    (THE “PROSPECTUS”) AND ARE INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM D.F. KING, THE INFORMATION AGENT, BY CALLING (212) 269-5550 (BANKERS AND BROKERS) OR (800) 290-6432 (ALL OTHERS) OR BY EMAIL AT AP@DFKING.COM.
AMPCO-PITTSBURGH CORPORATION 
Incorporated under the laws of the Commonwealth of Pennsylvania

NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE

Evidencing Non-Transferable Subscription Rights to Purchase Units of Ampco-Pittsburgh Corporation 
Subscription Price: To be determined as set forth below
THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR BEFORE 
5:00 P.M., EASTERN TIME, ON SEPTEMBER 16, 2020 (AS IT MAY BE EXTENDED, 
THE “EXPIRATION DATE”)

REGISTERED OWNER:
THIS CERTIFIES THAT the registered owner whose name is inscribed hereon is the owner of the number of non-transferable subscription rights (“Rights”) set forth above. The Rights entitle the holder thereof to subscribe for and purchase units of Ampco-Pittsburgh Corporation, a Pennsylvania corporation (the “Company”), unit (the “Units,” and each, a “Unit”) consisting of     share(s) of common stock of the Company par value $1.00 per share (“Common Stock”) and a Series A warrant exercisable for     shares of Common Stock at an exercise price of $    (the “Warrants” and each, a “Warrant”), at a subscription price per full Unit equal to $    pursuant to a rights offering (the “Rights Offering”), on the terms and subject to the conditions set forth in the Prospectus.
Each Right includes a subscription right. Under the subscription right, for each share of common stock owned as of the record date of the Rights Offering, the holder hereof is entitled to purchase a number of units equal to the number of shares of common stock such holder holds as of the record date.
The Rights represented by this Subscription Rights Certificate may be exercised by completing Section 1 and any other appropriate forms on the reverse side hereof and by returning the full payment of the subscription price for each Unit in accordance with the instructions contained herein. 
This Non-Transferable Subscription Rights Certificate is not valid unless countersigned by Broadridge Corporate Issuer Solutions, Inc., the Subscription Agent. Witness the seal of Ampco-Pittsburgh Corporation. and the signatures of its duly authorized officers.
DATED:      , 2020
	 
	​	​	 

	Chief Executive Officer
	​	​	Secretary

DELIVERY OPTIONS FOR NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE
Deliver other than in the manner or to the addresses listed below will not constitute valid delivery.
	If delivering by hand or overnight courier:
 
Broadridge Corporate Issuer Solutions, Inc.
Attn: BCIS IWS
51 Mercedes Way
Edgewood, NY 11717
	​	​	If delivering by first class mail:
 
Broadridge Corporate Issuer Solutions, Inc.
Attn: BCIS Re-Organization Dept.
P.O. Box 1317
Brentwood, NY 11717-0718

.
PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.

SECTION 1 - EXERCISE OF SUBSCRIPTION RIGHTS
To subscribe for Units pursuant to your subscription right, please complete lines (a) and (b) and sign in part (c). If you do not indicate the number of Rights being exercised, or if you do not forward the full subscription payment for the number of Rights that you indicate are being exercised, then you will be deemed to have exercised the maximum number of Rights that may be exercised with the aggregate subscription payment you delivered to the Subscription Agent. Fractional Units resulting from the exercise of the subscription rights will be eliminated by rounding down to the nearest whole number, with the total subscription payment being adjusted accordingly. Any excess subscription payments received by the Subscription Agent will be returned, without interest, as soon as practicable. The Common Stock and Warrants comprising the Units will separate upon the closing of the rights offering and will be issued separately, however, they may only be purchased as a Unit and the Unit will not trade as a separate security. Each warrant will be exercisable for     share(s) of Common Stock at an exercise price of $   .
For each share of Common Stock owned as of the record date of the Rights Offering, the holder hereof is entitled to purchase a number of Units equal to the number of shares of Common Stock the holder holds as of the record date.
	(a)

	EXERCISE OF SUBSCRIPTION RIGHT:

	(i)

	Basic Subscription Rights:

	I exercise 
	​	​	 
	​	​	x
	​	​	$ 
	​	​	=
	​	​	$     

	 
	​	​	(Up to No. of
shares owned)
	​	​	x
	​	​	(Initial Price)
	​	​	 
	​	​	(Amount Enclosed)

	(ii)

	Over-Subscription Right: If you fully exercise your Basic Subscription Right, above, and wish to subscribe for additional shares, you may exercise your Over-Subscription Right below.

	I exercise 
	​	​	 
	​	​	x 
	​	​	 
	​	​	=
	​	​	$      

	 
	​	​	(No. of Over-Subscription Units Subscribed For)
	​	​	x
	​	​	(Initial Price)
	​	​	=
	​	​	(Amount Enclosed)

	(b)

	PAYMENT:

	 
	​	​	Amount Enclosed
	​	​	 

	Basic Subscription Right:
	​	​	$        
	​	​	 ☐ ☐ Check or bank draft drawn on a U.S. bank, or postal or express money order payable to Broadridge Corporate Issuer Solutions, Inc., as Subscription Agent.

	 
	​	​	 
	​	​	 

	Over-Subscription Right:
	​	​	$        
	​	​	 ☐ ☐ Wire transfer directly to the escrow account maintained by an escrow agent retained by Broadridge Corporate Issuer Solutions, Inc., as Subscription Agent, on our behalf.

	Total Amount 
Enclosed:
	​	​	$       
	​	​	 

Method of Payment: All payments must be made in U.S. dollars by wire transfer of funds, U.S. Postal money order or cashier’s, certified, or uncertified check drawn upon a U.S. bank payable to “Broadridge Corporate Issuer Solutions, Inc. (acting as Subscription Agent for Ampco-Pittsburgh Corporation. The Subscription Agent will not accept payment by any other means.

	(c)

	SIGNATURE(S):

TO SUBSCRIBE: I acknowledge that I have received the Prospectus for the Rights Offering and I hereby irrevocably subscribe for the number of Units indicated above on the terms and conditions specified in the Prospectus. I hereby agree that if I fail to pay for the Units for which I have subscribed, Ampco-Pittsburgh Corporation may exercise its legal remedies against me.
This form must be signed by the registered holder(s) exactly as their name(s) appear(s) on the certificate(s) or book entry or by person(s) authorized to sign on behalf of the registered holder(s) by documents transmitted herewith.
	   
	​	​	   
	​	​	   

	Signature(s) of Subscriber(s)
	​	​	Date
	​	​	Daytime Telephone Number(s)

If signature is by trustee(s), executor(s), administrator(s), guardian(s), attorney(s)-in-fact, agent(s), officer(s) of a corporation or another acting in a fiduciary or representative capacity, please provide the following information (please print). See the instructions.
	   
	​	​	   
	​	​	   
	​	​	   

	Name(s)
	​	​	Full Title
	​	​	Taxpayer ID # or Social Security #
	​	​	Date

SECTION 2 - SPECIAL ISSUANCE OR DELIVERY INSTRUCTIONS FOR SUBSCRIPTION RIGHTS
HOLDERS
	(a) To be completed ONLY if the book-entry representing the Common Stock is to be issued in a name other than that of the registered holder. (See the Instructions.)
DO NOT FORGET TO COMPLETE THE GUARANTEE OF SIGNATURE(S) SECTION BELOW.
	​	​	(b) To be completed ONLY if the book-entry representing the Common Stock is to be issued to an address other than that shown on the front of this certificate. (See the Instructions.)
DO NOT FORGET TO COMPLETE THE GUARANTEE OF SIGNATURE(S) SECTION BELOW.

	Print Full Name:
	​	​	 
	​	​	Print Full Name:
	​	​	 

	 
	​	​	 
	​	​	 
	​	​	 

	Print Full Address:
	​	​	 
	​	​	Print Full Address:
	​	​	 

	 
	​	​	 
	​	​	 
	​	​	 

	Taxpayer ID # or
Social Security #:
	​	​	 
	​	​	Taxpayer ID # or
Social Security #:
	​	​	 

SIGNATURE GUARANTEE
This must be completed if you have completed any portion of Section 2.
	Signature Guaranteed:
	​	​	 
	​	​	 

	 
	​	​	(Name of Bank or Form)
	​	​	 

	By: 
	​	​	 
	​	​	 

	 
	​	​	(Signature of Officer)
	​	​	 

IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor institution (bank, stock broker, savings & loan association or credit union) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15.
FOR INSTRUCTIONS ON THE USE OF NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATES, CONSULT D.F. KING, THE INFORMATION AGENT, BY CALLING (212) 269-5550 (BANKERS AND BROKERS) OR (800) 290-6432 (ALL OTHERS) OR BY EMAIL AT AP@DFKING.COM. THE RIGHTS OFFERING EXPIRES AT 5:00 P.M., EASTERN TIME, ON SEPTEMBER 16, 2020 (UNLESS EXTENDED BY THE COMPANY AS DESCRIBED IN THE PROSPECTUS), AND THIS NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE IS VOID THEREAFTER.
THE RIGHTS OFFERING HAS BEEN REGISTERED OR QUALIFIED OR IS BELIEVED TO BE EXEMPT FROM REGISTRATION OR QUALIFICATION ONLY UNDER THE FEDERAL LAWS OF THE UNITED STATES AND THE LAWS OF THE STATES IN THE UNITED STATES. RESIDENTS OF OTHER JURISDICTIONS MAY NOT PURCHASE THE SECURITIES OFFERED HEREBY UNLESS THEY CERTIFY THAT THEIR PURCHASES OF SUCH SECURITIES ARE EFFECTED IN ACCORDANCE WITH THE APPLICABLE LAWS OF SUCH JURISDICTIONS.Exhibit 4.4

    

    

    Form of Warrant Certificate

    

    

    [FACE]

    

    

    Number

    

    

    Warrants

    

    

    THIS WARRANT SHALL BE VOID IF NOT EXERCISED PRIOR TO

    THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

    IN THE WARRANT AGREEMENT DESCRIBED BELOW

    

    

    AMPCO-PITTSBURGH CORPORATION

    Incorporated Under the Laws of the Commonwealth of Pennsylvania

    

    

    CUSIP 032037 111

    

    

    Warrant Certificate

    

    

    This Warrant
        Certificate certifies that ________________, or registered assigns, is the Registered Holder of warrant(s) evidenced hereby (the “Warrants” and each,
      a “Warrant”) to purchase shares of common stock, par value $1.00 per share (“Common
          Stock”), of Ampco-Pittsburgh Corporation, a Pennsylvania corporation (the “Company”). Each whole Warrant entitles holder, upon exercise during
      the period set forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and non-assessable shares of Common Stock as set forth below, at the exercise price (the “Exercise Price”) as determined pursuant to the Warrant Agreement, payable in lawful money (or through “cashless
          exercise” as provided for in the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of the Warrant Agent referred to below, subject to
      the conditions set forth herein and in the Warrant Agreement. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

    

    

    Each whole Warrant is initially exercisable for one fully paid and non-assessable share of Common Stock. No fractional shares will be
      issued upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in a share of Common Stock any right to a fractional share will be automatically terminated without consideration to
      holder and the Company will, upon exercise, round down to the nearest whole number the number of shares of Common Stock to be issued to holder. The number of shares of Common Stock issuable upon exercise of the Warrants is subject to adjustment upon
      the occurrence of certain events set forth in the Warrant Agreement.

    

    

    The initial Exercise Price per share of Common Stock for any Warrant is equal to $      per share. The Exercise Price is subject to
      adjustment upon the occurrence of certain events set forth in the Warrant Agreement.

    

    

    Subject to the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the
      extent not exercised by the end of such Exercise Period, such Warrants shall become void. The Warrants may be redeemed, subject to certain conditions, as set forth in the Warrant Agreement.

    

    

    Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further
      provisions shall for all purposes have the same effect as though fully set forth at this place.

    

    

    This Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

    

    

    This Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York.

    
      
        

    

    	 	
            AMPCO-PITTSBURGH CORPORATION

          
	 	 	 
	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:

          	 
	 	 	 
	 	
            BROADRIDGE CORPORATE ISSUER SOLUTIONS, INC.,

            as Warrant Agent

          
	 	 	 
	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:

          	 

    

    

    [Signature Page to Warrant Certificate]

    
      
        

    

    [Form of Warrant Certificate]

    

    

    [Reverse]

    

    

    The Warrants evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to
      receive shares of Common Stock and are issued or to be issued pursuant to a Warrant Agreement dated as of_______________, 2020 (the “Warrant Agreement”), duly
      executed and delivered by the Company to Broadridge Corporate Issuer Solutions, Inc., a New York corporation, as warrant agent (the “Warrant Agent”), which
      Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the
      Company and the holders (the words “holders” or “holder” meaning the
      Registered Holders or Registered Holder (each as defined in the Warrant Agreement), respectively) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. Defined terms used in this
      Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

    

    

    Warrants may be exercised at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by
      this Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly completed and executed, together with payment of the Exercise Price as specified in the Warrant
      Agreement (or through “cashless exercise” as provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby the number of Warrants exercised shall
      be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised.

    

    

    Notwithstanding anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of
      exercise (i) a registration statement covering the shares of Common Stock to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating to the shares of Common Stock is current, except through “cashless
      exercise” as provided for in the Warrant Agreement.

    

    

    The Warrant Agreement provides that upon the occurrence of certain events the number of shares of Common Stock issuable upon exercise of
      the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive a fractional interest in a share of Common Stock any right to a fractional
      share will be automatically terminated without consideration to holder and the Company will, upon exercise, round down to the nearest whole number of shares of Common Stock to be issued to the holder of the Warrant.

    

    

    Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in
      person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or
      Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants.

    

    

    Upon due presentation for registration of transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant
      Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement,
      without charge except for any tax or other governmental charge imposed in connection therewith.

    

    

    The Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant
      Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant
      Agent shall be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a shareholder of the Company.

    
      
        

    

    Election to Purchase

    

    

    (To Be Executed Upon Exercise of Warrant)

    

    

    The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive _____ shares of
      Common Stock and herewith tenders payment for such shares of Common Stock to the order of Ampco-Pittsburgh Corporation (the “Company”) in the amount of
      $_____________ in accordance with the terms hereof. The undersigned requests that a certificate for such shares of Common Stock be registered in the name of _____________, whose address is and that such shares of Common Stock be delivered to
      ______________ whose address is _______________. If said number of shares of Common Stock is less than all of the shares of Common Stock purchasable hereunder, the undersigned requests that a new Warrant Certificate representing the remaining balance
      of such shares of Common Stock be registered in the name of ___________________, whose address is _______________ and that such Warrant Certificate be delivered to _______________, whose address is _______________.

    

    

    In the event that the Warrant is to be exercised on a “cashless” basis pursuant to Section 3.3.7 of the Warrant Agreement, the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with Section 3.3.7 of the Warrant Agreement.

    

    

    In the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the number
      of shares of Common Stock that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless exercise and (ii) the holder hereof shall complete the following: The
      undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive shares of Common Stock. If said number of shares of Common Stock is
      less than all of the shares of Common Stock purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such shares of Common Stock be registered
      in the name of ________________, whose address is________________ and that such Warrant Certificate be delivered to ________________, whose address is ________________.

    

    

    [Signature Page Follows]

    
      
        

    

    

    

    	
            Date: ____________, 20___

          	 
	 	
            Signature

          
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	
            (Address)

          
	 	 
	 	 
	 	
            (Tax Identification Number)

          
	
            Signature Guaranteed:

          	 
	 	 
	 	 

    

    

    THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH
      MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY SUCCESSOR RULE)).

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