Document:

Exhibit 10.6

 

PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT

 

THIS PRIVATE PLACEMENT WARRANTS
PURCHASE AGREEMENT, dated as of [ ], 2021 (as it may from time to time be amended, this “Agreement”), is entered into
by and between Apeiron Capital Investment Corp., a Delaware corporation (the “Company”) and Apeiron Capital Sponsor,
LLC, a Delaware limited liability company (the “Purchaser”).

 

WHEREAS:

 

The Company intends to consummate
an initial public offering of the Company’s units (the “Public Offering”), each unit consisting of one share
of Class A common stock of the Company, par value $0.0001 per share (each, a “Share”), and one-half of one redeemable
warrant;

 

Each whole warrant entitles the holder to purchase one
Share at an exercise price of $11.50 per Share; and

 

The Purchaser has agreed to
purchase an aggregate of 7,000,000 warrants (or up to 7,450,000 warrants to the extent the underwriters’ over- allotment option
is exercised) (the “Private Placement Warrants”), each Private Placement Warrant entitling the holder to purchase one
Share at an exercise price of $11.50 per Share.

 

NOW THEREFORE, in consideration of
the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1. Authorization, Purchase
and Sale; Terms of the Private Placement Warrants.

 

A.    Authorization of the
Private Placement Warrants. The Company has duly authorized the issuance and sale of the Private Placement Warrants to the
Purchaser.

 

 B.    Purchase and Sale of the Private Placement Warrants.

 

(i)   Simultaneously with the consummation of the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser
and the Company (the “Initial Closing Date”), the Company shall issue and sell to the Purchaser, and the Purchaser
shall purchase from the Company, an aggregate of 7,000,000 Private Placement Warrants at a price of $1.00 per warrant for an aggregate
purchase price of $7,000,000 (the “Purchase Price”). Purchaser shall pay the Purchase Price by wire transfer of immediately
available funds to the trust account (the “Trust Account”) maintained by Continental Stock Transfer & Trust Company,
acting as trustee (”Continental”), at least one (1) business day prior to the date of effectiveness (the “Effective
Date”) of the registration statement relating to the Public Offering (the “Registration Statement”). On
the Initial Closing Date, upon the payment by the Purchaser of the Purchase Price, the Company, at its option, shall deliver a certificate
evidencing the Private Placement Warrants purchased on such date duly registered in the Purchaser’s name to the Purchaser or effect
such delivery in book-entry form.

 

(ii) 
In the event that the underwriters’ over-allotment option is exercised in full or in part, the Purchaser shall purchase up to an
additional 450,000 Private Placement Warrants (the “Additional Private Placement Warrants”), in the same proportion
as the amount of the option that is so exercised, and simultaneously with such purchase of Additional Private Placement Warrants, as
payment in full for the Additional Private Placement Warrants being purchased hereunder, and at least one (1) business day prior to the
closing of such portion of the underwriters’ over-allotment option, Purchaser shall pay $1.00 per Additional Private Placement
Warrant, up to an aggregate amount of $450,000, by wire transfer of immediately available funds or by such other method as may be reasonably
acceptable to the Company, to the Trust Account. The closing of the purchase and sale of the Additional Private Placement Warrants, if
applicable, shall take place simultaneously with the closing of all or any portion of the underwriters’ over-allotment option (such
closing date, together with the Initial Closing Date, the “Closing Dates” and each, a “Closing Date”).
The closing of the purchase and sale of the Additional Private Placement Warrants, if applicable, shall take place at the offices of
Ellenoff Grossman & Schole LLP, counsel for the Company, or such other place as may be agreed upon by the parties hereto.

 

     

     

    

 

 C.    Terms of the Private Placement Warrants.

 

(i)   Each Private Placement Warrant
shall have the terms set forth in a Warrant Agreement to be entered into by the Company and Continental in connection with the Public
Offering (the “Warrant Agreement”). Such terms include the fact that the Private Placement Warrants shall not be transferable,
assignable or salable until 30 days after the completion of an initial business combination, subject to certain exceptions set forth
in the Warrant Agreement.

 

(ii) On or prior to the Effective
Date, the Company and the Purchaser shall enter into a registration and shareholder rights agreement (the “Registration and
Shareholder Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser relating
to the Private Placement Warrants and the Shares underlying the Private Placement Warrants.

 

Section 2. Representations and Warranties of the
Company. As a material inducement to the Purchaser to enter into this Agreement and purchase the Private Placement Warrants, the Company
hereby represents and warrants to the Purchaser (which representations and warranties shall survive the applicable Closing Date) that:

 

A.  
Incorporation and Corporate Power. The Company is a corporation duly incorporated, validly existing and in good standing
under the laws of the State of Delaware 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 and the Warrant
Agreement.

 

 B.    Authorization; No Breach.

 

(i)   The execution, delivery and
performance of this Agreement and the Private Placement Warrants have been duly authorized by the Company as of the applicable Closing
Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with its terms. Upon issuance
in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Private Placement Warrants will
constitute valid and binding obligations of the Company, enforceable in accordance with their terms.

 

(ii) 
The execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private
Placement Warrants, the issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment, of and compliance
with, the respective terms hereof and thereof by the Company, do not and will not as of the applicable Closing Date (a) conflict with
or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien,
security interest, charge or encumbrance upon the Company’s share capital or assets under, (d) result in a violation of, or (e)
require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative
or governmental body or agency pursuant to the amended and restated certificate of incorporation of the Company (in effect on the date
hereof or as may be amended prior to completion of the contemplated Public Offering), or any material law, statute, rule or regulation
to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any filings required
after the date hereof under federal or state securities laws.

 

C.    Title to Securities.
Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Warrant Agreement, the Shares issuable upon exercise
of the Private Placement Warrants will be duly and validly issued as fully paid and nonassessable. On the date of issuance of the Private
Placement Warrants, the Shares issuable upon exercise of the Private Placement Warrants shall have been reserved for issuance. Upon issuance
in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will have good title to the Private
Placement Warrants and the Shares issuable upon exercise of such Private Placement Warrants, free and clear of all liens, claims and
encumbrances of any kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer
restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.

 

     

     

    

 

D.    Valid Issuance. The total number of shares of all classes of capital stock which the Company has authority to issue is 110,000,000
shares of common stock (which consist of 100,000,000 shares of the Company’s Class A Common Stock and 10,000,000 shares of the Company’s
Class B common stock, par value $0.0001 per share (the “Class B Common Stock”)) and 1,000,000 shares of the Company’s
preferred stock, par value $0.0001, per share (the “Preferred Stock”). As of the date hereof, the Company has issued and outstanding
no shares of Class A Common Stock, 4,312,500 shares of Class B Common Stock (of which up to 562,500 shares are subject to forfeiture as
described in the Registration Statement) and no shares of Preferred Stock. All of the issued shares of capital stock of the Company have
been duly authorized, validly issued, and are fully paid and non-assessable

 

E.    Governmental
Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is required
in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the Company of any
other transactions contemplated hereby.

 

Section 3. Representations and
Warranties of the Purchaser. As a material inducement to the Company to enter into this Agreement and issue and sell the Private Placement
Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties shall survive
the applicable Closing Date) that:

 

A.   Organization
and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement.

 

 B.    Authorization; No Breach.

 

(i)     This
Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’
rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii)   
The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser
does not and shall not as of the applicable Closing Date conflict with or result in a breach by the Purchaser of the terms, conditions
or provisions of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.

 

 C.    Investment Representations.

 

(i)     
The Purchaser is acquiring the Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares issuable upon
such exercise (collectively, the “Securities”), for the Purchaser’s own account, for investment purposes only
and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii)     The
Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D under the Securities Act
of 1933, as amended (the “Securities Act”).

 

(iii)   
The Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the registration
requirements of the United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and
the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein in order to determine the
availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iv)   
The Purchaser did not enter into this Agreement as a result of any general solicitation or general advertising within the meaning
of Rule 502(c) under the Securities Act.

 

     

     

    

 

(v)    
The Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials relating
to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the opportunity to
ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment in the Securities
involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an informed
investment decision with respect to the acquisition of the Securities.

 

(vi)   
The Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed
on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities by the
Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii)   The Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or any state securities
laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold in reliance
on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the Company nor any
other person is under any obligation to register the Securities under the Securities Act or any state securities laws or to comply with
the terms and conditions of any exemption thereunder. The Private Placement Warrants will bear a legend and appropriate “stop transfer”
instructions (or an appropriate notation if the warrants are issued in book entry form) relating to the foregoing. The Purchaser further
understands that the Securities and Exchange Commission (the “SEC”) has taken the position that promoters or affiliates
of a blank check company and their transferees, both before and after an initial business combination, are deemed to be “underwriters”
under the Securities Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to
the Securities Act would not be available for resale transactions of the Securities until the one-year anniversary following consummation
of an initial business combination despite technical compliance with the requirements of such Rule.

 

(viii) 
The Purchaser has such knowledge and experience in financial and business matters, knows of the high degree of risk associated with investments
in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an investment
in the Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated hereunder for an
indefinite period of time. The Purchaser has adequate means of providing for its current financial needs and contingencies and will have
no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities. The Purchaser can
afford a complete loss of its investment in the Securities.

 

Section 4. Conditions of the Purchaser’s
Obligations. The obligations of the Purchaser to purchase and pay for the Private Placement Warrants are subject to the fulfillment,
on or before the applicable Closing Date, of each of the following conditions:

 

A.   Representations and Warranties.
The representations and warranties of the Company contained in Section 2 shall be true and correct at and as of the applicable Closing
Date as though then made.

 

B.    Performance. The Company
shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be
performed or complied with by it on or before the applicable Closing Date.

 

C.    No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been
enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any
self-regulatory organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the
transactions contemplated by this Agreement or the Warrant Agreement.

 

D.   Warrant
Agreement. The Company shall have entered into the Warrant Agreement.

 

     

     

    

 

Section 5. Conditions of the Company’s Obligations.
The obligations of the Company to the Purchaser under this Agreement are subject to the fulfillment, on or before the applicable Closing
Date, of each of the following conditions:

 

A.   Representations and Warranties.
The representations and warranties of the Purchaser contained in Section 3 shall be true and correct at and as of the applicable Closing
Date as though then made.

 

B.    Performance. The Purchaser
shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be
performed or complied with by the Purchaser on or before the applicable Closing Date.

 

C.    No Injunction.
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement or the
Warrant Agreement.

 

D.   Warrant
Agreement. The Company shall have entered into the Warrant Agreement.

 

Section 6. Termination. This Agreement may be terminated
at any time after December 31, 2021 upon the election by either the Company or the Purchaser solely as to itself upon written notice to
the other party if the initial closing of the Public Offering does not occur prior to such date.

 

Section 7. Survival of Representations and Warranties.
All of the representations and warranties contained herein shall survive the applicable Closing Date.

 

Section 8. Definitions. Terms used but not
otherwise defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement.

 

Section 9. Miscellaneous.

 

A.   Successors
and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf
of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so expressed
or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement without the prior
written consent of the other party hereto, other than assignments by the Purchaser to affiliates thereof.

 

B.    Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective
only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C.    Counterparts. This Agreement
may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than one party, but all
such counterparts taken together shall constitute one and the same agreement.

 

D.   Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive
part of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by
limitation.

 

E.    Governing
Law. This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all purposes shall be construed
in accordance with the internal laws of the State of New York, without regard to the conflicts of laws principles thereof.

 

F.     Amendments. This Agreement
may not be amended, modified or waived as to any particular provision, except by a written instrument executed by all parties hereto.

 

[Signature page follows]

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have executed
this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	APEIRON CAPITAL INVESTMENT CORP.
	 	 
	 	By:	 
	 	 	Name:	Dr. Joel Shulman
	 	 	Title:	Chief Executive Officer
	 	 
	 	PURCHASER:
	 	 
	 	APEIRON CAPITAL SPONSOR, LLC
	 	 
	 	By:	 
	 	 	Name:	Dr. Joel Shulman
	 	 	Title:	Managing Member

 

[Signature page to Private Placement
Warrants Purchase Agreement]Exhibit 10.7

 

PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT

 

THIS PRIVATE PLACEMENT WARRANTS
PURCHASE AGREEMENT, dated as of [ ], 2021 (as it may from time to time be amended, this “Agreement”), is entered into
by and between Apeiron Capital Investment Corp., a Delaware corporation (the “Company”) and Cantor Fitzgerald &
Co. (the “Purchaser”).

 

WHEREAS:

 

The Company intends to consummate
an initial public offering of the Company’s units (the “Public Offering”), each unit consisting of one share
of Class A common stock of the Company, par value $0.0001 per share (each, a “Share”), and one-half of one redeemable
warrant;

 

Each whole warrant entitles the holder to purchase one
Share at an exercise price of $11.50 per Share; and

 

The Purchaser has agreed to
purchase an aggregate of 750,000 warrants (the “Private Placement Warrants”), each Private Placement Warrant entitling
the holder to purchase one Share at an exercise price of $11.50 per Share (provided that so long as the Private Placement Warrants are
held by the Purchaser or its designees, the Purchaser or its designees will not be permitted to exercise such Private Placement Warrants
after the five-year anniversary of the effective date of the Registration Statement).

 

NOW THEREFORE, in consideration of
the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1. Authorization, Purchase
and Sale; Terms of the Private Placement Warrants.

 

A.  
Authorization of the Private Placement Warrants. The Company has duly authorized the issuance and sale of the Private Placement
Warrants to the Purchaser.

 

B.   Purchase and
Sale of the Private Placement Warrants. Simultaneously with the consummation of the Public Offering or on such earlier time and date
as may be mutually agreed by the Purchaser and the Company (the “Initial Closing Date”), the Company shall issue and
sell to the Purchaser, and the Purchaser shall purchase from the Company, an aggregate of 750,000 Private Placement Warrants at a price
of $1.00 per warrant for an aggregate purchase price of $750,000 (the “Purchase Price”). Purchaser shall pay the Purchase
Price by wire transfer of immediately available funds to the trust account (the “Trust Account”) maintained by Continental
Stock Transfer & Trust Company, acting as trustee (”Continental”), at least one (1) business day prior to the
date of effectiveness (the “Effective Date”) of the registration statement relating to the Public Offering (the “Registration
Statement”). On the Initial Closing Date, upon the payment by the Purchaser of the Purchase Price, the Company, at its option,
shall deliver a certificate evidencing the Private Placement Warrants purchased on such date duly registered in the Purchaser’s
name to the Purchaser or effect such delivery in book-entry form.

 

    

     

    

 

 C.   Terms of the Private Placement Warrants.

 

(i)  
Each Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and Continental
in connection with the Public Offering (the “Warrant Agreement”). Such terms include the fact that the Private Placement
Warrants shall not be transferable, assignable or salable until 30 days after the completion of an initial business combination, subject
to certain exceptions set forth in the Warrant Agreement.

 

(ii)  
On or prior to the Effective Date, the Company and the Purchaser shall enter into a registration and shareholder rights agreement
(the “Registration and Shareholder Rights Agreement”) pursuant to which the Company will grant certain registration
rights to the Purchaser relating to the Private Placement Warrants and the Shares underlying the Private Placement Warrants. Pursuant
to the Registration and Shareholder Rights Agreement, the Purchaser may not exercise its demand and “piggyback” registration
rights after five (5) and seven (7) years after the effective date of the Registration Statement and may not exercise its demand rights
on more than one occasion.

 

(iii)  The obligation of the
Purchaser to purchase and pay for the Private Placement Warrants as provided herein shall be subject to the satisfaction of the conditions
set forth in Section 6 of the Underwriting Agreement, dated the date hereof, by and between the Company and Cantor Fitzgerald & Co.,
as representative of the underwriters named therein (the “Underwriting Agreement”).

 

Section 2. Representations and Warranties of the
Company. As a material inducement to the Purchaser to enter into this Agreement and purchase the Private Placement Warrants, the Company
hereby represents and warrants to the Purchaser (which representations and warranties shall survive the applicable Closing Date) that:

 

A.  
Incorporation and Corporate Power. The Company is a corporation duly incorporated, validly existing and in good standing
under the laws of the State of Delaware 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 and the Warrant
Agreement.

 

 B.   Authorization; No Breach.

 

(i)  
The execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly authorized by the Company
as of the applicable Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance
with its terms. Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the
Private Placement Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms.

 

(ii)  
The execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private
Placement Warrants, the issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment, of and compliance
with, the respective terms hereof and thereof by the Company, do not and will not as of the applicable Closing Date (a) conflict with
or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien,
security interest, charge or encumbrance upon the Company’s share capital or assets under, (d) result in a violation of, or (e)
require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative
or governmental body or agency pursuant to the amended and restated certificate of incorporation of the Company (in effect on the date
hereof or as may be amended prior to completion of the contemplated Public Offering), or any material law, statute, rule or regulation
to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any filings required
after the date hereof under federal or state securities laws.

 

C.  
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Warrant Agreement,
the Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued as fully paid and nonassessable. On
the date of issuance of the Private Placement Warrants, the Shares issuable upon exercise of the Private Placement Warrants shall have
been reserved for issuance. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the
Purchaser will have good title to the Private Placement Warrants and the Shares issuable upon exercise of such Private Placement Warrants,
free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and under the other agreements
contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed
due to the actions of the Purchaser.

 

    

     

    

 

D.  
Valid Issuance. The total number of shares of all classes of capital stock which the Company has authority to issue is
110,000,000 shares of common stock (which consist of 100,000,000 shares of the Company’s Class A Common Stock and 10,000,000 shares
of the Company’s Class B common stock, par value $0.0001 per share (the “Class B Common Stock”)) and 1,000,000
shares of the Company’s preferred stock, par value $0.0001, per share (the “Preferred Stock”). As of the date
hereof, the Company has issued and outstanding no shares of Class A Common Stock, 4,312,500 shares of Class B Common Stock (of which
up to 562,500 shares are subject to forfeiture as described in the Registration Statement) and no shares of Preferred Stock. All of the
issued shares of capital stock of the Company have been duly authorized, validly issued, and are fully paid and non-assessable

 

E.  
Governmental Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental
authority is required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation
by the Company of any other transactions contemplated hereby.

 

Section 3. Representations and
Warranties of the Purchaser. As a material inducement to the Company to enter into this Agreement and issue and sell the Private Placement
Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties shall survive
the applicable Closing Date) that:

 

A.  
Organization and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry out
the transactions contemplated by this Agreement.

 

 B.   Authorization; No Breach.

 

(i)  
This Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting
creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii)  
The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the
Purchaser does not and shall not as of the applicable Closing Date conflict with or result in a breach by the Purchaser of the terms,
conditions or provisions of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.

 

 C.   Investment Representations.

 

(i)  
The Purchaser is acquiring the Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares issuable
upon such exercise (collectively, the “Securities”), for the Purchaser’s own account, for investment purposes
only and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii)  
The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D under the
Securities Act of 1933, as amended (the “Securities Act”).

 

(iii)  
The Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from
the registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth and
accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein in order
to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iv)  
The Purchaser did not enter into this Agreement as a result of any general solicitation or general advertising within the meaning
of Rule 502(c) under the Securities Act.

 

    

     

    

 

(v)  
 The Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the opportunity
to ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment in the Securities
involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an informed
investment decision with respect to the acquisition of the Securities.

 

(vi)  
The Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed
on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities by the
Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii)  
The Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or any
state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or
(2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither
the Company nor any other person is under any obligation to register the Securities under the Securities Act or any state securities
laws or to comply with the terms and conditions of any exemption thereunder. The Private Placement Warrants will bear a legend and appropriate
“stop transfer” instructions (or an appropriate notation if the warrants are issued in book entry form) relating to
the foregoing. The Purchaser further understands that the Securities and Exchange Commission (the “SEC”) has taken
the position that promoters or affiliates of a blank check company and their transferees, both before and after an initial business combination,
are deemed to be “underwriters” under the Securities Act when reselling the securities of a blank check company. Based
on that position, Rule 144 adopted pursuant to the Securities Act would not be available for resale transactions of the Securities until
the one-year anniversary following consummation of an initial business combination despite technical compliance with the requirements
of such Rule.

 

(viii)  
The Purchaser has such knowledge and experience in financial and business matters, knows of the high degree of risk associated
with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and
risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated
hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current financial needs and contingencies
and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities. The
Purchaser can afford a complete loss of its investment in the Securities.

 

Section 4. Conditions of the Purchaser’s
Obligations. The obligations of the Purchaser to purchase and pay for the Private Placement Warrants are subject to the fulfillment,
on or before the applicable Closing Date, of each of the following conditions:

 

A.  
Representations and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and
correct at and as of the applicable Closing Date as though then made.

 

B.  
Performance. The Company shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by it on or before the applicable Closing Date.

 

C.  
No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have
been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated
by this Agreement or the Warrant Agreement.

 

D.   Warrant Agreement.
The Company shall have entered into the Warrant Agreement.

 

E.   Underwriting
Agreement. The obligation of the Purchaser to purchase and pay for the Private Placement Warrants as provided herein shall be subject
to the satisfaction of the conditions set forth in Section 6 of the Underwriting Agreement, dated as of the date hereof, by and between
the Company and the Purchaser, as representative of the underwriters named therein (the “Underwriting Agreement”).

 

    

     

    

 

Section 5. Conditions of the Company’s Obligations.
The obligations of the Company to the Purchaser under this Agreement are subject to the fulfillment, on or before the applicable Closing
Date, of each of the following conditions:

 

A.  
Representations and Warranties. The representations and warranties of the Purchaser contained in Section 3 shall be true
and correct at and as of the applicable Closing Date as though then made.

 

B.  
Performance. The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in
this Agreement that are required to be performed or complied with by the Purchaser on or before the applicable Closing Date.

 

C.  
No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have
been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated
by this Agreement or the Warrant Agreement.

 

D.   Warrant Agreement.
The Company shall have entered into the Warrant Agreement.

 

Section 6. Termination. This Agreement may be terminated
at any time after December 31, 2021 upon the election by either the Company or the Purchaser solely as to itself upon written notice to
the other party if the initial closing of the Public Offering does not occur prior to such date.

 

Section 7. Survival of Representations and Warranties.
All of the representations and warranties contained herein shall survive the applicable Closing Date.

 

Section 8. Lock-Up Period.

 

		(i)	The Purchaser agrees that it shall
                                            not Transfer any Securities until thirty (30) days following the consummation of the Business
                                            Combination; provided, however, that Transfers of Securities are permitted (a) to the Company’s
                                            officers or directors, Apeiron Capital Sponsor, LLC (the “Sponsor”), or
                                            Subscriber’s officers, directors or direct or indirect equityholders, (b) to an affiliate
                                            or immediate family member of any of the officers or directors of the Company or Subscriber
                                            (c) to any member, officer or director of the Sponsor, or any immediate family member, partner,
                                            affiliate or employee of a member of the Sponsor, (d) by gift to any permitted transferee
                                            under any of the immediately preceding subsections (a) through (c), a trust, the beneficiaries
                                            of which are one or more permitted transferees under any of the immediately preceding subsections
                                            (a) through (c), or a charitable organization, (e) by virtue of laws of descent and distribution
                                            upon death of any of the Company’s officers or directors, the Sponsor, or members of
                                            the Sponsor, or any officers, directors or direct or indirect equityholders of Purchaser,
                                            (f) pursuant to a qualified domestic relations order, (g) in the event of any liquidation
                                            prior to consummation of the Company’s initial Business Combination, and (h) by virtue
                                            of the laws of Delaware, the Sponsor’s limited liability company agreement upon dissolution
                                            of the Sponsor or the organizational documents of Purchaser upon dissolution of Purchaser;
                                            provided, however, that in the case of clauses (a) through (f), and (h), these permitted
                                            transferees must enter into a written agreement with the Company agreeing to be bound by
                                            the Transfer restrictions herein.

 

		(ii)	For purposes of Section 8(i), the
                                            term “Transfer” shall mean the (a) sale of, offer to sell, contract or
                                            agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose
                                            of or agreement to dispose of, directly or indirectly, or establishment or increase of a
                                            put equivalent position or liquidation with respect to or decrease of a call equivalent position
                                            within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and
                                            the rules and regulations of the SEC promulgated thereunder with respect to, any of the Securities,
                                            (b) entry into any swap or other arrangement that transfers to another, in whole or in part,
                                            any of the economic consequences of ownership of any of the Securities, whether any such
                                            transaction is to be settled by delivery of such Securities, in cash or otherwise, or (c)
                                            public announcement of any intention to effect any transaction specified in clause (a) or
                                            (b).

 

		(iii)	In addition to the restrictions
                                            on transfer described in Section 8(i), Purchaser acknowledges and agrees that the Private
                                            Placement Warrants and the related registration rights will be deemed compensation by the
                                            Financial Industry Regulatory Authority (“FINRA”) and will therefore,
                                            pursuant to Rule 5110(e) of the FINRA Manual, be subject to lock-up for a period of one hundred
                                            eighty (180) days immediately following the date of effectiveness or commencement of sales
                                            in the IPO, subject to FINRA Rule 5110(e)(2). Additionally, the Units and their component
                                            parts and the related registration rights may not be sold, transferred, assigned, pledged
                                            or hypothecated during the foregoing one hundred eighty (180) day period following the effective
                                            date of the Registration Statement except to any underwriter or selected dealer participating
                                            in the IPO and the bona fide officers or partners of any Subscriber and any such participating
                                            underwriter or selected dealer. Additionally, the Private Placement Warrants and the related
                                            registration rights will not be the subject of any hedging, short sale, derivative, put or
                                            call transaction that would result in the economic disposition of such securities by any
                                            person for a period of 180 days immediately following the date of effectiveness or commencement
                                            of sales in the IPO.

 

Section 9. Definitions. Terms used but not
otherwise defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement.

 

    

     

    

 

Section 10. Miscellaneous.

 

A.  
Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement
by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether
so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement without
the prior written consent of the other party hereto, other than assignments by the Purchaser to affiliates thereof.

 

B.  
Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such
provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C.  
Counterparts. This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the
signatures of more than one party, but all such counterparts taken together shall constitute one and the same agreement.

 

D.  
Descriptive Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and
do not constitute a substantive part of this Agreement. The use of the word “including” in this Agreement shall be
by way of example rather than by limitation.

 

E.  
Governing Law. This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all
purposes shall be construed in accordance with the internal laws of the State of New York, without regard to the conflicts of laws principles
thereof.

 

F.  
Amendments. This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument
executed by all parties hereto.

 

[Signature page follows]

 

    

     

    

  

IN WITNESS WHEREOF, the parties hereto have executed
this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	APEIRON
    CAPITAL INVESTMENT CORP.
	 	 
	 	By:	 
	 	 	Name: Dr. Joel Shulman
	 	 	Title: Chief Executive Officer
	 	 
	 	PURCHASER:
	 	 
	 	CANTOR
    FITZGERALD & CO.
	 	 
	 	By:	    
	 	 	Name:
	 	 	Title:

 

[Signature page to Private Placement
Warrants Purchase Agreement]

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