Document:

Exhibit 10.6

 

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

 

PROMISSORY NOTE

 

	Principal
    Amount: up to $150,000	Dated
    as of May 11, 2021 
	(as
    set forth on the Schedule of Borrowings attached hereto)	 

 

Ledger Acquisition Company,
a Cayman Islands exempted company and blank check company (the “Maker”), promises to pay to the order of Ledger Acquisition
Sponsor LLC, a Cayman Islands limited liability company, or its registered assigns or successors in interest (the “Payee”),
or order, the principal sum of up to one hundred and fifty thousand U.S. dollars ($150,000) (as set forth on the Schedule of Borrowings
attached hereto) in lawful money of the United States of America, on the terms and conditions described below. All payments on this Note
shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the
Payee may from time to time designate by written notice in accordance with the provisions of this Note.

 

1.             Principal.
The principal balance of this Note shall be payable on the earlier of: (i) September 30, 2021, or (ii) the date on which Maker consummates
an initial public offering of its securities (the “IPO”). The principal balance may be prepaid at any time.

 

		2.	Interest.
                                            No interest shall accrue on the unpaid principal balance of this Note.

 

3.             Application
of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under
this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally
to the reduction of the unpaid principal balance of this Note.

 

		4.	Events
                                            of Default. The following shall constitute an event of default (“Event of Default”):

 

(a)
         Failure to Make Required Payments. Failure by Maker to pay the principal
amount due pursuant to this Note within five (5) business days of the date specified above.

 

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

 

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

 

     

     

    

 

5.             Remedies.

 

(a)          Upon
the occurrence of an Event of Default specified in Section 4(a) hereof, Payee may, by written notice to Maker, declare this Note to be
due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder, shall become
immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived,
anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b)
         Upon the occurrence of an Event of Default specified in Sections 4(b) and 4(c),
the unpaid principal balance of this Note, and all other sums payable with regard to this Note, shall automatically and immediately become
due and payable, in all cases without any action on the part of Payee.

 

6.
            Waivers. Maker and all endorsers and guarantors
of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard
to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits
that might accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds
arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay of execution, exemption
from civil process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to
a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any
order desired by Payee.

 

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

 

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

 

9.             Construction.
THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW
PROVISIONS THEREOF.

 

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

 

    2

     

    

 

11.           Trust
Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any
kind (“Claim”) in or to any distribution of or from the trust account to be established in which the proceeds of the
IPO conducted by the Maker (including the deferred underwriters discounts and commissions) and the proceeds of the sale of the warrants
issued in a private placement to occur prior to the consummation of the IPO are to be deposited, as described in greater detail in the
registration statement and prospectus to be filed with the Securities and Exchange Commission in connection with the IPO, and hereby
agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any reason whatsoever.

 

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

 

13.           Assignment.
No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law
or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent shall
be void.

 

[Signature page follows]

 

    3

     

    

 

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

 

	 	LEDGER ACQUISITION COMPANY
	 	 
	 	By:	/s/ Peter Vessenes
	 	 	Name:  Peter Vessenes
	 	 	Title:  CEO

 

[Signature Page to Promissory
Note]

 

     

     

    

 

SCHEDULE OF BORROWINGS

 

The following increases or decreases in this Promissory Note have
been made:

 

	 	 	Amount of decrease in	 	 	Amount of increase in	 	 	Principal Amount of this	 
	Date of Increase or	 	Principal Amount of this	 	 	Principal Amount of this	 	 	Promissory Note following	 
	Decrease	 	Promissory Note	 	 	Promissory Note	 	 	such decrease or increase	 
	May 11, 2021	 	 	 	 	 	$	150,000	 	 	$	150,000	 

 

     

     

    

 

		
	 	 

 

	TITLE 

                                                                                                                                         FILE
                                            NAME

                                                                                                                                          

                                                                                                                                         DOCUMENT
                                            ID

                                                                                                                                          

                                                                                                                                         AUDIT
                                            TRAIL DATE FORMAT

                                                                                                                                          

                                                                                                                                         STATUS
	SPAC Promissory
    Note
	 
	Ledger - Promisso...113200167_1).docx
	 
	c959ad56b12b79e7222070963262b53d543a0f87
	 
	MM / DD / YYYY
	 
	l
    Completed

 

Document History

 

	 
	05 / 28 / 2021	Sent for signature to Peter Vessenes
    (peter@capital6.com) from justin@capital6.com 
	 	 
	18:39:14 UTC	
	 	IP: 172.92.188.139
	 	 	 
	 
	06 / 04 / 2021	Viewed by Peter Vessenes (peter@capital6.com) 
	 	 
	18:15:24 UTC	IP: 73.157.19.7
	 	 	 
	 
	06 / 04 / 2021	Signed by Peter Vessenes (peter@capital6.com) 
	 	 
	18:15:36 UTC	IP: 73.157.19.7
	 	 	 
	 
	06 / 04 / 2021	The document has been completed.
	 	 
	18:15:36 UTC	 

 

    	 	

 

     

    

 

AMENDMENT NO. 1 TO THE PROMISSORY NOTE BETWEEN
LEDGER 

ACQUISITION COMPANY (THE “MAKER”) AND LEDGER ACQUISITION SPONSOR 

LLC (THE “PAYEE”) DATED AS OF May 11, 2021 (THE “NOTE”)

 

Dated as of September 14, 2021

 

The
Note is hereby modified and amended by deleting the first numbered paragraph titled “1. Principal” in its entirety,
and replacing it with the following:

 

1. Principal.
The principal balance of this Note shall be payable on the earlier of: (i) March 31, 2022, or (ii) the date on which Maker consummates
an initial public offering of its securities (the “IPO”). The principal balance may be prepaid at any time.

 

     

     

    

 

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

 

	 	LEDGER ACQUISITION COMPANY
	 	 
	 	By: 	/s/ Peter Vessenes
	 	 	Name:	Peter Vessenes 
	 	 	Title:	Director

 

    2

     

    

 

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

 

	 	LEDGER ACQUISITION SPONSOR LLC
	 	 
	 	By: 	/s/ Peter Vessenes
	 	 	Name:	Peter Vessenes 
	 	 	Title:	Manager

 

    3

     

    

 

		
	 	 

 

	TITLE	Amendment to Promissory
    Note
	 	 
	FILE NAME	Amendment No. 1 t... Note -
    0914.docx
	 	 
	DOCUMENT ID	7cbdad73c1193866dbc455397115dd1590bb1df9
	 	 
	AUDIT TRAIL DATE FORMAT	MM / DD / YYYY
	 	 
	STATUS	l Completed

 

Document History

 

	 
	09 / 20 / 2021	Sent for signature to Peter Vessenes
    (peter@capital6.com)  from justin@capital6.com 
	 	 
	20:46:27 UTC	
	 	IP: 172.92.188.139
	 	 	 
	 
	09 /21 / 2021	Viewed by Peter Vessenes (peter@capital6.com) 
	 	 
	21:59:19 UTC	IP: 73.157.19.7
	 	 	 
	 
	09 / 21 / 2021	Signed by Peter Vessenes (peter@capital6.com) 
	 	 
	21:59:35 UTC	IP: 73.157.19.7
	 	 	 
	 
	09 / 21 / 2021	The document has been completed.
	 	 
	21:59:35 UTCExhibit 10.7

 

Ledger Acquisition Company 

1037 NE 65th Street

#80042

Seattle, WA 98115

 

May 11, 2021 

 

Ledger Acquisition Sponsor LLC

 1037 NE 65th Street 

#80042 

Seattle, WA 98115

 

RE:     Securities
Subscription Agreement

 

Gentlemen:

 

This agreement (this “Agreement”)
is entered into and between Ledger Acquisition Sponsor LLC, a Cayman Islands limited liability company (the “Subscriber”
or “you”), and Ledger Acquisition Company, a Cayman Islands exempted company (the “Company”). Pursuant
to the terms hereof, the Company hereby accepts the offer the Subscriber has made to purchase 4,312,500 Class B ordinary shares,
$0.0001 par value per share (the “Shares”), up to 562,500 of which are subject to forfeiture by you if the underwriters
of the initial public offering (the “IPO”) of units of the Company do not fully exercise their over-allotment option
(the “Over-allotment Option”). The Company and the Subscriber’s agreements regarding such Shares are as follows:

 

		1.	Purchase of Securities.

 

1.1            Purchase
of Shares. For the sum of $25,000, which the Company acknowledges receiving in cash, the Company hereby issues the Shares to the Subscriber,
and the Subscriber hereby subscribes for and purchases the Shares from the Company, 562,500 of which are subject to forfeiture, on the
terms and subject to the conditions set forth in this Agreement. All references in this Agreement to shares of the Company being forfeited
shall take effect as surrenders for no consideration of such shares as a matter of Cayman Islands law.

 

1.2            Surrender
of Class B Ordinary Share. With effect immediately following the issue of the Shares to the Subscriber by the Company, the Subscriber
hereby irrevocably surrenders to the Company for cancellation and for nil consideration one Class B ordinary share of US$0.0001
par value standing in its name in the register of members of the Company.

 

		2.	Representations, Warranties and Agreements.

 

2.1            Subscriber’s
Representations, Warranties and Agreements. 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:

 

2.1.1         No Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or
made any recommendation or endorsement of the offering of the Shares.

 

2.1.2         No
Conflicts. 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 limited liability company agreement of the
Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party or (iii) any law, statute, rule or
regulation to which the Subscriber is subject, or any agreement, order, judgment or decree to which the Subscriber is subject.

 

     

     

    

 

2.1.3         Registration and Authority. The Subscriber is a Cayman Islands limited liability company, validly existing and possessing
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 Subscriber, enforceable against 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).

 

2.1.4         Experience,
Financial Capability and Suitability. 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 sold unless subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber is capable
of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests. Subscriber must
bear the economic risk of this investment until the Shares are sold pursuant to: (i) an effective registration statement under the
Securities Act or (ii) an exemption from registration available with respect to such sale. Subscriber is able to bear the economic
risks of an investment in the Shares and to afford a complete loss of Subscriber’s investment in the Shares.

 

2.1.5         Access
to Information; Independent Investigation. 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, Subscriber has relied solely on Subscriber’s own knowledge
and understanding of the Company and its business based upon Subscriber’s own due diligence investigation and the information furnished
pursuant to this paragraph. 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 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 and/or its prospects.

 

2.1.6         Regulation D Offering. 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 federal and state law.

 

2.1.7         Investment
Purposes. 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 decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502
under the Securities Act.

 

2.1.8         Restrictions
on Transfer; Shell Company. 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”
within the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates
representing the Shares will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer,
resell, charge, mortgage, pledge or otherwise transfer the Shares, such Shares may be offered, resold, charged, mortgaged, pledged
or otherwise transferred only pursuant to: (i) registration under the Securities Act, or (ii) an available exemption from
registration. 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, Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the
Company. Absent registration or an exemption, the Subscriber agrees not to resell the Shares. 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 requirements
of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

    2

     

    

 

2.1.9         No Governmental Consents. No governmental, administrative or other third party consents or approvals are required or necessary
on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.2          
Company’s Representations, Warranties and Agreements. To induce the Subscriber to purchase the Shares, the Company
hereby represents and warrants to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1         Incorporation and Corporate Power. The Company is a Cayman Islands exempted company 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).

 

2.2.2         No Conflicts. 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 memorandum and articles of association of
the Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or
regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject.

 

2.2.3         Title to Securities. 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, (b) transfer restrictions under federal and state securities laws,
and (c) liens, claims or encumbrances imposed due to the actions of the Subscriber.

 

2.2.4         No
Adverse Actions. 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 seeks to recover damages or to obtain other relief
in connection with any transactions.

 

    3

     

    

 

		3.	Forfeiture of Shares.

 

3.1            Partial
or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the representative(s) of the underwriters
of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it shall forfeit any and all rights to such number of
Shares (up to an aggregate of 562,500 Shares and pro rata based upon the percentage of the Over-allotment Option exercised) such that
immediately following such forfeiture, the Subscriber (and 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 warrants or any ordinary shares purchased by Subscriber
in the IPO or in the aftermarket) equal to 20% of the issued and outstanding ordinary shares of the Company immediately following the
IPO.

 

3.2            Termination
of Rights as Shareholder. 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.

 

4.            Waiver
of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased 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 purchases ordinary shares
in the IPO or in the aftermarket, any additional Shares so purchased shall be eligible to receive any liquidating distributions by the
Company. However, in no event will the Subscriber have the right to redeem any ordinary shares into funds held in the Trust Account upon
the successful completion of an initial business combination.

 

		5.	Restrictions on Transfer.

 

5.1            Securities
Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly known as an “Insider
Letter”) to be dated as of the closing of the IPO by and between Subscriber and the Company, Subscriber agrees not to sell,
transfer, charge, mortgage, 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.

 

5.2            Restrictive
Legends. Any 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, CHARGED, MORTGAGED, 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.”

 

    4

     

    

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE
ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, CHARGED, MORTGAGED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM
OF THE LOCKUP.”

 

5.3            Additional
Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration of an extraordinary dividend
payable in a form other than Shares, a spin-off, a share subdivision, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting the Company’s outstanding 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 or into
which such Shares thereby become convertible shall immediately be subject to this Section 5 and Section 3. Appropriate adjustments
to reflect the distribution of such securities or property shall be made to the number and/or class of Shares subject to this Section 5
and Section 3.

 

5.4            Registration
Rights. Subscriber acknowledges that the Shares are being purchased 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 pursuant to a Registration
and Shareholder Rights Agreement to be entered into with the Company prior to the closing of the IPO.

 

		6.	Other Agreements.

 

6.1            Further
Assurances. 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.

 

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

 

6.3            Entire
Agreement. This Agreement, together with that certain Insider Letter to be entered into between 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 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.

 

6.4            Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by all parties
hereto.

 

    5

     

    

 

6.5            Waivers
and Consents. 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.

 

6.6            Assignment.
The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of the
other party.

 

6.7            Benefit.
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.

 

6.8            Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by
the laws of the State of New York applicable to contracts wholly performed within the borders of such state, without giving effect to
the conflict of law principles thereof.

 

6.9            Severability.
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.

 

6.10            No
Waiver of Rights, Powers and Remedies. 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.

 

6.11            Survival
of Representations and Warranties. 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.

 

6.12            No
Broker or Finder. 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 save 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.

 

    6

     

    

 

6.13            Headings
and Captions. The headings and captions of the various subdivisions 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.

 

6.14            Counterparts.
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.

 

6.15            Construction.
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 subdivision 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.

 

6.16            Mutual
Drafting. 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.

 

7.            Voting
and Tender of Shares. 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 tender any Shares in connection with a tender offer presented to the Company’s shareholders in connection
with an initial business combination negotiated by the Company.

 

[Signature Page Follows]

 

    7

     

    

 

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,
	 	 	 
	 	LEDGER ACQUISITION COMPANY
	 	 	 
	 	By:	/s/ Peter Vessenes 
	 	 	Name: Peter Vessenes 
	 	 	Title:   CEO

 

Accepted and agreed as of the date first written above.

 

	LEDGER
    ACQUISITION SPONSOR LLC	 
	 	 	 
	By:	/s/ Peter Vessenes	 
	 	Name: Peter Vessenes	 
	 	Title:   Manager	 

 

[Signature Page to Securities Subscription Agreement]

 

     

     

    

 

	 	 

 

	TITLE	SPAC Sponsor Subscription Agreement
	FILE
    NAME	Ledger - Subscrip...113200155_1).docx
	DOCUMENT
    ID	4640a75ec2454db6ad168d97f425c023f1bbe373
	AUDIT
    TRAIL DATE FORMAT 	MM / DD / YYYY
	STATUS	
Completed

 

Document History

 

		05
                                            / 11 / 2021

                                            17:04:53 UTC	Sent
                                            for signature to Peter Vessenes (peter@capital6.com) from justin@capital6.com

                                                                      IP:
                                            50.231.55.6

	 	 	 
		05
                                            / 11 / 2021

                                            17:26:48 UTC	Viewed
                                            by Peter Vessenes (peter@capital6.com)

                                        IP:
                                        50.231.55.6

	 	 	 
		05
                                            / 11 / 2021

                                            17:27:02 UTC	Signed
                                            by Peter Vessenes (peter@capital6.com)

                                        IP:
                                        50.231.55.6

	 	 	 
		05
                                            / 11 / 2021

                                            17:27:02 UTC	The
                 document has been completed.

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