Document:

Exhibit 10.8

 

DIRECTOR AGREEMENT

 

This DIRECTOR AGREEMENT
is made as of ___________ (the “Agreement”), by and between HealthLynked Corp., a Nevada corporation (the “Company”),
and ___________, an individual (the “Director”).

 

WHEREAS, the Company
appointed the Director as of the date hereof, and desires to enter into an agreement with the Director with respect to such appointment;
and

 

WHEREAS, the Director
is willing to accept such appointment and to serve the Company on the terms set forth herein and in accordance with the provisions
of this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual covenants contained herein, the parties hereto agree as follows:

 

1.
Position. Subject to the terms and provisions of this Agreement, the Company shall cause the Director to be appointed, and
the Director hereby agrees to serve the Company in such position, upon the terms and conditions hereinafter set forth, provided,
however, that the Director’s continued service on the Board of Directors of the Company (the “Board”)
after the next annual stockholders’ meeting shall be subject to approval by the Company’s stockholders.

 

2.
Duties. (a) During the Directorship Term (as defined herein), the Director shall make reasonable business efforts to attend
all Board meetings, serve on appropriate subcommittees as reasonably requested by the Board, make himself available to the Company
at mutually convenient times and places, attend external meetings and presentations, as appropriate and convenient, and perform
such duties, services and responsibilities, and have the authority commensurate to such position.

 

(b) The
Director will use his best efforts to promote the interests of the Company. The Company recognizes that the Director (i) is or
may become a full-time executive employee of another entity and that his responsibilities to such entity must have priority and
(ii) sits or may sit on the board of directors of other entities. Notwithstanding the same, the Director will use reasonable business
efforts to coordinate his respective commitments so as to fulfill his obligations to the Company and, in any event, will fulfill
his legal obligations as a Director. Other than as set forth above, the Director will not, without giving prior notification to
the Board, engage in any other business activity which would reasonably be expected to materially interfere with the performance
of his duties, services and responsibilities hereunder or which is in violation of the reasonable policies established from time
to time by the Company, provided that the foregoing shall in no way limit his activities on behalf of (i) any current or
future employer and its affiliates or (ii) the board of directors of any entities on which he currently sits. At such time as the
Board receives such notification, the Board may require the resignation of the Director if it determines that such business activity
does in fact materially interfere with the performance of the Director’s duties, services and responsibilities hereunder.

 

3. Compensation.

 

	 	(a)	
        Restricted Stock. On the date the Director
        is appointed to the Board, the Company shall issue to the Director the number of shares of the Company’s common stock equivalent
        to ___________ (the “Award Shares”), based on the average closing price on the five trading days immediately
        preceding the date the Director is appointed to the Board and rounded down to the nearest whole share, which shares shall vest
        as set forth in a restricted stock purchase agreement, or such other date as defined in the applicable grant notice, such that
        upon the last day of each fiscal quarter, commencing in the quarter in which the Director enters into this Agreement, provided
        the Director is a member of the Board as of such date, shares representing __% of the Award Shares shall vest. The Company will
        make equivalent grants to Director of shares of the Company’s common stock having a value of at least ___________ each year
        that Director serves on the Board.

        

 

    

     

    

 

	 	(b)	Expense Reimbursements. During the Directorship Term, the Company shall reimburse the Director for (i) all reasonable out-of-pocket expenses incurred by the Director in attending any in-person meetings, provided that the Director complies with the generally applicable policies, practices and procedures of the Company for submission of expense reports, receipts or similar documentation of such expenses, and (ii) any costs and expenses, including reasonable attorney’s fees, associated with filings required to be made by the Director or any of the entities managed or controlled by Director to report beneficial ownership or the acquisition or disposition of securities of the Company. Any reimbursements for allocated expenses (as compared to out-of-pocket expenses of the Director) must be approved in advance by the Company. 

 

4.
Directorship Term. The “Directorship Term,” as used in this Agreement, shall mean the period commencing
on the date hereof and terminating on the earlier of the date of the next annual stockholders meeting and the earliest of the following
to occur:

 

(a)
the death of the Director;

 

(b)
the removal of the Director from the Board by the majority stockholders of the Company; and

 

(c)
the resignation by the Director from the Board.

 

5.
Director’s Representation and Acknowledgment. The Director represents to the Company that his execution and performance
of this Agreement shall not be in violation of any agreement or obligation (whether or not written) that he may have with or to
any person or entity, including without limitation, any prior or current employer. The Director hereby acknowledges and agrees
that this Agreement (and any other agreement or obligation referred to herein) shall be an obligation solely of the Company, and
the Director shall have no recourse whatsoever against any officer, director, employee, stockholder, representative or agent of
the Company or any of their respective affiliates with regard to this Agreement.

 

6.
Indemnification. The Company agrees to indemnify the Director for his activities as a member of the Board as set forth in
the Director Indemnification Agreement attached hereto as Exhibit A.

 

7.
Non-Waiver of Rights. The failure to enforce at any time the provisions of this Agreement or to require at any time performance
by the other party hereto of any of the provisions hereof shall in no way be construed to be a waiver of such provisions or to
affect either the validity of this Agreement or any part hereof, or the right of either party hereto to enforce each and every
provision in accordance with its terms. No waiver by either party hereto of any breach by the other party hereto of any provision
of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions at that time
or at any prior or subsequent time.

 

8.
Notices. Every notice relating to this Agreement shall be in writing and shall be given by personal delivery, overnight
delivery or by registered or certified mail, postage prepaid, return receipt requested; to: 

 

If to the Company:

 

with a copy (which
shall not constitute notice) to:

 

If to the Director:

 

Either of the parties hereto may change
their address for purposes of notice hereunder by giving notice in writing to such other party pursuant to this Section 8.

 

    2

     

    

 

9.
Binding Effect/Assignment. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their
respective heirs, executors, personal representatives, estates, successors (including, without limitation, by way of merger) and
assigns, as applicable. Notwithstanding the provisions of the immediately preceding sentence, neither the Director nor the Company
shall assign all or any portion of this Agreement without the prior written consent of the other party.

 

10.
Entire Agreement. This Agreement (together with the other agreements referred to herein) sets forth the entire understanding
of the parties hereto with respect to the subject matter hereof and supersedes all prior agreements, written or oral, between them
as to such subject matter.

 

11.
Severability. If any provision of this Agreement, or any application thereof to any circumstances, is invalid, in whole
or in part, such provision or application shall to that extent be severable and shall not affect other provisions or applications
of this Agreement.

 

12.
Governing Law. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced
in accordance with, the laws of the State of Nevada, without regard to its conflict of laws rules. The parties hereto hereby irrevocably
and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought
in any court of the State of Nevada (the “Nevada Court”), and not in any other state or federal court in the
United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Nevada
Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any objection to
the laying of venue of any such action or proceeding in the Nevada Court, and (iv) waive, and agree not to plead or to make, any
claim that any such action or proceeding brought in the Nevada Court has been brought in an improper or inconvenient forum.

 

13.
Legal Fees. The parties hereto agree that the non-prevailing party in any dispute, claim, action or proceeding between the
parties hereto arising out of or relating to the terms and conditions of this Agreement or any provision thereof (a “Dispute”),
shall reimburse the prevailing party for reasonable attorney’s fees and expenses incurred by the prevailing party in connection
with such Dispute; provided, however, that the Director shall only be required to reimburse the Company for its fees
and expenses incurred in connection with a Dispute if the Director’s position in such Dispute was found by the court, arbitrator
or other person or entity presiding over such Dispute to be frivolous or advanced not in good faith.

 

 

14.
Modifications. Neither this Agreement nor any provision hereof may be modified, altered, amended or waived except by an
instrument in writing duly signed by the party to be charged.

 

15.
Tense and Headings. Whenever any words used herein are in the singular form, they shall be construed as though they were
also used in the plural form in all cases where they would so apply. The headings contained herein are solely for the purposes
of reference, are not part of this Agreement and shall not in any way affect the meaning or interpretation of this Agreement.

 

16.
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original
but all of which together shall constitute one and the same instrument.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF,
the Company has caused this Director Agreement to be executed by authority of its Board of Directors, and the Director has hereunto
set his hand, on the day and year first above written.

 

HEALTHLYNKED CORP. 

 

	By: 	 	 

 

DIRECTOR

 

____________________________

 

____________________________, individually

 

[Signature page to Director Agreement] 

 

 

4Exhibit 4.2

 

SPRING VALLEY ACQUISITION CORP.

 

DESCRIPTION OF SECURITIES

 

The following summary of the material terms of
the securities of Spring Valley Acquisition Corp. is not intended to be a complete summary of the rights and preferences of such securities
and is subject to and qualified by reference to our amended and restated memorandum and articles of association incorporated by reference
as an exhibit to the company’s Annual Report on Form 10-K for the year ended December 31, 2020 (the “Report”),
and applicable Cayman Islands law. We urge you to read our amended and restated memorandum and articles of association in their entirety
for a complete description of the rights and preferences our our securities.

 

Certain Terms

 

Unless otherwise stated in this Exhibit 4.2
(this “Exhibit”), or the context otherwise requires, references to:

 

		•	“amended and restated memorandum and article of association” are to the amended and restated memorandum and articles of
association that the company adopted prior to the consummation of our initial public offering;

 

		•	“Companies Act” are to the Companies Act (2020 Revision) of the Cayman Islands as the same may be amended from time to
time;

 

		•	“founder shares” are to our Class B ordinary shares initially issued to our sponsor in a private placement prior
to our initial public offering and the Class A ordinary shares that will be issued upon the automatic conversion of the Class B
ordinary shares at the time of our initial business combination or earlier at the option of the holders thereof  (for the avoidance
of doubt, such Class A ordinary shares will not be “public shares”);

 

		•	“management” or our “management team” are to our executive officers and directors;

 

		•	“ordinary shares” are to our Class A ordinary shares and our Class B ordinary shares;

 

		•	“private placement warrants” are to the warrants issued to our sponsor in a private placement simultaneously with the
closing of our initial public offering and to be issued upon conversion of working capital loans, if any;

 

		•	“public shares” are to our Class A ordinary shares sold as part of the units in our initial public offering
(whether they are purchased in our initial public offering or thereafter in the open market) and for the avoidance of doubt, do not include
the Class A ordinary shares that will be issued upon the automatic conversion of the Class B ordinary shares;

 

		•	“public shareholders” are to the holders of our public shares, including our sponsor and management team to the extent
our sponsor and/or members of our management team purchase public shares, provided that our sponsor’s and each member of
our management team’s status as a “public shareholder” will only exist with respect to such public shares;

 

		•	“sponsor” are to Spring Valley Acquisition Sponsor, LLC, a Delaware limited liability company; and

 

    

     

    

 

		•	“we,” “us,” “our,” “company” or “our company” are to Spring Valley Acquisition
Corp., a Cayman Islands exempted company.

 

Any forfeiture of shares described in this Report
will take effect as a surrender of shares for no consideration of such shares as a matter of Cayman Islands law. Any conversion of the
Class B ordinary shares described in this Report will take effect as a compulsory redemption of Class B ordinary shares and
an issuance of Class A ordinary shares as a matter of Cayman Islands law. Any share dividends described in this Report will take
effect as share capitalizations as a matter of Cayman Islands law.

 

We are a Cayman Islands exempted
company and our affairs are governed by our amended and restated memorandum and articles of association, the Companies Act and the common
law of the Cayman Islands. Pursuant to our amended and restated memorandum and articles of association, which were adopted prior to the
consummation of our initial public offering, we are authorized to issue 330,000,000 ordinary shares, including 300,000,000 Class A
ordinary shares and 30,000,000 Class B ordinary shares, as well as 1,000,000 preference shares, $0.0001 par value each. The following
description summarizes the material terms of our shares as set out more particularly in our amended and restated memorandum and articles
of association. Because it is only a summary, it may not contain all the information that is important to you.

 

Units

 

Each unit has an offering
price of  $10.00 and consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles
the holder thereof to purchase one Class A ordinary share at a price of  $11.50 per share, subject to adjustment as described
in our initial public offering. Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for a whole number
of the company’s Class A ordinary shares. This means only a whole warrant may be exercised at any given time by a warrant holder.

 

The Class A ordinary
shares and warrants comprising the units began separate trading on December 8, 2020. Once the Class A ordinary shares and
warrants commenced separate trading, holders had the option to continue to hold units or separate their units into the component
securities. Holders needed to have their brokers contact our transfer agent in order to separate the units into Class A ordinary
shares and warrants. No fractional warrants were issued upon separation of the units and only whole warrants were trade.

 

In no event were the Class A
ordinary shares and warrants traded separately until we filed with the SEC a Current Report on Form 8-K which included an audited
balance sheet reflecting our receipt of the gross proceeds at the closing of our initial public offering and the sale of the private placement
warrants. We filed a Current Report on Form 8-K which includes this audited balance sheet promptly after the completion of our initial
public offering. Additionally, the units automatically separated into their component parts and were not traded after completion
of our initial business combination.

 

Ordinary Shares

 

Prior to the closing of our
initial public offering, there were 5,750,000 Class B ordinary shares issued and outstanding, all of which were held of record by
our initial shareholders. Upon the closing of our initial public offering, 28,750,000 of our ordinary shares were outstanding including:

 

	•	23,000,000 Class A ordinary shares underlying the units issued as part of our initial public
offering; and

 

	•	5,750,000 Class B ordinary shares held by our initial shareholders.

 

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Ordinary shareholders of
record are entitled to one vote for each share held on all matters to be voted on by shareholders. Except as described below, holders
of Class A ordinary shares and holders of Class B ordinary shares will vote together as a single class on all matters submitted
to a vote of our shareholders except as required by law. Unless specified in our amended and restated memorandum and articles of association,
or as required by applicable provisions of the Companies Act or applicable stock exchange rules, the affirmative vote of a majority of
our ordinary shares that are voted is required to approve any such matter voted on by our shareholders. Approval of certain actions will
require a special resolution under Cayman Islands law, being the affirmative vote of at least two-thirds of our ordinary shares that are
voted, and pursuant to our amended and restated memorandum and articles of association; such actions include amending our amended and
restated memorandum and articles of association and approving a statutory merger or consolidation with another company. Our board of directors
is divided into three classes, each of which will generally serve for a term of three years with only one class of directors being
elected in each year. There is no cumulative voting with respect to the appointment of directors, with the result that the holders of
more than 50% of the shares voted for the appointment of directors can elect all of the directors. Our shareholders are entitled to receive
ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. Prior to our initial business
combination, only holders of our founder shares will have the right to vote on the appointment of directors. Holders of our public shares
will not be entitled to vote on the election of directors during such time. In addition, prior to the completion of an initial business
combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. The provisions
of our amended and restated memorandum and articles of association governing the appointment or removal of directors prior to our initial
business combination may only be amended by a special resolution passed by not less than two-thirds of our ordinary shares who attend
and vote at our general meeting which shall include the affirmative vote of a simple majority of our Class B ordinary shares.

 

Because our amended and restated
memorandum and articles of association authorizes the issuance of up to 300,000,000 Class A ordinary shares, if we were to enter
into a business combination, we may (depending on the terms of such a business combination) be required to increase the number of Class A
ordinary shares which we will be authorized to issue at the same time as our shareholders vote on the business combination to the extent
we seek shareholder approval in connection with our initial business combination.

 

Our board of directors is
divided into three classes with only one class of directors being elected in each year and each class (except for those directors appointed
prior to our first annual meeting of shareholders) serving a three-year term. In accordance with the the corporate governance requirements
of The Nasdaq Capital Market (“Nasdaq”), we are not required to hold an annual meeting until one year after our first fiscal
year end following our listing on the Nasdaq. There is no requirement under the Companies Act for us to hold annual or general meetings
to elect directors. We may not hold an annual meeting of shareholders to elect new directors prior to the consummation of our initial
business combination. Prior to the completion of an initial business combination, any vacancy on the board of directors may be filled
by a nominee chosen by holders of a majority of our founder shares. In addition, prior to the completion of an initial business combination,
holders of a majority of our founder shares may remove a member of the board of directors for any reason.

 

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We will provide our public
shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business
days prior to the consummation of our initial business combination, including interest and other income earned on the funds held in the
trust account and not previously released to us to pay our income taxes, if any, divided by the number of the then-outstanding public
shares, subject to the limitations described herein. The amount in the trust account is initially anticipated to be $10.10 per public
share and such amount will be increased by $0.10 for the six-month extension of our time to consummate a business combination, as described
herein. The per share amount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting
commission we will pay to the underwriters. The redemption rights will include the requirement that a beneficial owner must identify itself
in order to valid redeem its shares. Our sponsor and each member of our management team have entered into an agreement with us, pursuant
to which they have agreed to waive their redemption rights with respect to any founder shares and public shares held by them in connection
with (i) the completion of our initial business combination and (ii) a shareholder vote to approve an amendment to our amended
and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders
of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to
redeem 100% of our public shares if we do not complete our initial business combination within 18 months from the closing of our
initial public offering, prior to the Contractual Redemption Date if extended at our sponsor's option or during any Extension Period,
or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares. Unlike many blank
check companies that hold shareholder votes and conduct proxy solicitations in conjunction with their initial business combinations and
provide for related redemptions of public shares for cash upon completion of such initial business combinations even when a vote is not
required by law, if a shareholder vote is not required by applicable law or stock exchange listing requirements, if a shareholder vote
is not required by applicable law or stock exchange listing requirements and we do not decide to hold a shareholder vote for business
or other reasons, we will, pursuant to our amended and restated memorandum and articles of association, conduct the redemptions pursuant
to the tender offer rules of the SEC, and file tender offer documents with the SEC prior to completing our initial business combination.
Our amended and restated memorandum and articles of association require these tender offer documents to contain substantially the same
financial and other information about the initial business combination and the redemption rights as is required under the SEC’s
proxy rules. If, however, a shareholder approval of the transaction is required by applicable law or stock exchange listing requirements,
or we decide to obtain shareholder approval for business or other reasons, we will, like many blank check companies, offer to redeem shares
in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek shareholder
approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands
law, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company. However,
the participation of our sponsor, officers, directors, advisors or their affiliates in privately-negotiated transactions (as described
in the final prospectus related to our initial public offering), if any, could result in the approval of our initial business combination
even if a majority of our public shareholders vote, or indicate their intention to vote, against such initial business combination. For
purposes of seeking approval of the majority of our issued and outstanding ordinary shares, non-votes will have no effect on the approval
of our initial business combination once a quorum is obtained. Our amended and restated memorandum and articles of association require
that at least five days’ notice will be given of any general meeting.

 

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

 

If we seek shareholder approval,
we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law, which
requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company. In such case,
our sponsor and each member of our management team have agreed to vote their founder shares and public shares in favor of our initial
business combination. As a result, in addition to our initial shareholders’ founder shares, we would need 8,625,000, or 37.5% (assuming
all issued and outstanding shares are voted), of the 23,000,000 public shares sold in our initial public offering to be voted in favor
of an initial business combination in order to have our initial business combination approved. In the event that each of our anchor investors
continues to hold the 1,980,000 units purchased in our initial public offering and votes in favor of an initial business combination,
we would not need any additional public shares sold in our initial public offering to be voted in favor of our initial business combination
to have our initial business combination approved. Additionally, each public shareholder may elect to redeem their public shares irrespective
of whether they vote for or against the proposed transaction or vote at all.

 

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Pursuant to our amended and
restated memorandum and articles of association, prior to the Contractual Redemption Date if extended at our sponsor's option or during
any Extension Period, if we have not consummated an initial business combination within 18 months from the closing of our initial
public offering, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible
but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the trust account, including interest and other income earned on the funds held in the trust account and not
previously released to us to pay our income taxes, if any (less up to $100,000 of interest to pay dissolution expenses) divided by the
number of the then-outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders
(including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following
such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in
the case of clauses (ii) and (iii), to our obligations under Cayman Islands law to provide for claims of creditors and the requirements
of other applicable law. Our sponsor and each member of our management team have entered into an agreement with us, pursuant to which
they have agreed to waive their rights to liquidating distributions from the trust account with respect to any founder shares they hold
if we fail to consummate an initial business combination within 18 months from the closing of our initial public offering, prior
to the Contractual Redemption Date if extended at our sponsor's option or during any Extension Period, (although they will be entitled
to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business
combination within the prescribed time frame). Our amended and restated memorandum and articles of association will provide that, if we
wind up for any other reason prior to the consummation of our initial business combination, we will follow the foregoing procedures with
respect to the liquidation of the trust account as promptly as reasonably possible but not more than ten business days thereafter, subject
to applicable Cayman Islands law.

 

In the event of a liquidation,
dissolution or winding up of the company after a business combination, our shareholders are entitled to share ratably in all assets remaining
available for distribution to them after payment of liabilities and after provision is made for each class of shares, if any, having preference
over the ordinary shares. Our shareholders have no preemptive or other subscription rights. There are no sinking fund provisions applicable
to the ordinary shares, except that we will provide our public shareholders with the opportunity to redeem their public shares for cash
at a per share price equal to the aggregate amount then on deposit in the trust account, including interest and other income earned on
the funds held in the trust account and not previously released to us to pay our income taxes, if any, divided by the number of the then-outstanding
public shares, upon the completion of our initial business combination, subject to the limitations described herein.

 

Founder Shares

 

The founder shares are designated
as Class B ordinary shares and, except as described below, are identical to the Class A ordinary shares included in the units
sold in the initial public offering, and holders of founder shares have the same shareholder rights as public shareholders, except that:
(a) prior to our initial business combination, only holders of the founder shares have the right to vote on the appointment of directors
and holders of a majority of our founder shares may remove a member of the board of directors for any reason; (b) the founder shares
are subject to certain transfer restrictions contained in a letter agreement that our sponsor, directors, executive officers and certain
of the anchor investors have entered or will enter into with us, as described in more detail below; (c) pursuant to such letter agreement,
our sponsor and each member of our management team have agreed, and certain of the anchor investors will agree, to (i) waive their
redemption rights with respect to their founder shares (ii) to waive their redemption rights with respect to their founder shares
and public shares in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of
association (A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares
the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if
we do not complete our initial business combination within 18 months from the closing of our initial public offering, prior to the
Contractual Redemption Date if extended at our sponsor's option or during any Extension Period, or (B) with respect to any other
provision relating to the rights of holders of our Class A ordinary shares; and (iii) waive their rights to liquidating distributions
from the trust account with respect to any founder shares they hold if we fail to consummate an initial business combination within 18
months from the closing of our initial public offering, prior to the Contractual Redemption Date if extended at our sponsor's option or
during any Extension Period (although they will be entitled to liquidating distributions from the trust account with respect to any public
shares they hold if we fail to complete our initial business combination within the prescribed time frame); (d) the founder shares
automatically converted into our Class A ordinary shares at the time of our initial business combination or earlier at the option
of the holders thereof as described herein; and (e) the founder shares are entitled to registration rights. If we seek shareholder
approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands
law, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company. In
such case, our sponsor and each member of our management team have agreed to vote their founder shares and public shares in favor of our
initial business combination.

 

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The founder shares are designated
as Class B ordinary shares and automatically converted into Class A ordinary shares (which such Class A ordinary shares
delivered upon conversion do not have redemption rights or are entitled to liquidating distributions from the trust account if we do not
consummate an initial business combination) at the time of our initial business combination or earlier at the option of the holders thereof
at a ratio such that the number of Class A ordinary shares issuable upon conversion of all founder shares will equal, in the aggregate,
on an as-converted basis, 20% of the sum of  (i) the total number of ordinary shares issued and outstanding upon completion
of our initial public offering, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon
conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the company in connection with or in relation
to the consummation of the initial business combination, excluding any Class A ordinary shares or equity-linked securities exercisable
for or convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller in the initial business combination
and any private placement warrants issued to our sponsor, its affiliates or any member of our management team upon conversion of working
capital loans. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than one-to-one.

 

Except as described herein,
pursuant to a letter agreement that our sponsor, directors, executive officers and certain of the anchor investors have entered or will
enter into with us, our sponsor and our directors and executive officers have agreed, and certain of the anchor investors will agree,
not to transfer, assign or sell any of their founder shares until earliest of  (A) one year after the completion of our initial
business combination and (B) subsequent to our initial business combination, (x) if the closing price of our Class A ordinary
shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations
and other similar transactions) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial
business combination, or (y) the date on which we complete a liquidation, merger, share exchange or other similar transaction that
results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property. We
refer to such transfer restrictions throughout this exhibit as the lock-up. Any permitted transferees would be subject to the same restrictions
and other agreements of our sponsor and our directors and executive officers with respect to any founder shares.

 

Prior to our initial business
combination, only holders of our founder shares will have the right to vote on the appointment of directors. Holders of our public shares
will not be entitled to vote on the appointment of directors during such time. In addition, prior to the completion of an initial business
combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. These provisions
of our amended and restated memorandum and articles of association may only be amended by a special resolution passed by not less than
two-thirds of our ordinary shares who attend and vote at a general meeting which shall include the affirmative vote of a simple majority
of our Class B ordinary shares. With respect to any other matter submitted to a vote of our shareholders, including any vote in connection
with our initial business combination, except as required by law, holders of our founder shares and holders of our public shares will
vote together as a single class, with each share entitling the holder to one vote.

 

Preference Shares

 

Our amended and restated
memorandum and articles of association ill authorize 1,000,000 preference shares and provide that preference shares may be issued from
time to time in one or more series. Our board of directors is authorized to fix the voting rights, if any, designations, powers, preferences,
the relative, participating, optional or other special rights and any qualifications, limitations and restrictions thereof, applicable
to the shares of each series. Our board of directors is able to, without shareholder approval, issue preference shares with voting and
other rights that could adversely affect the voting power and other rights of the holders of the ordinary shares and could have anti-takeover
effects. The ability of our board of directors to issue preference shares without shareholder approval could have the effect of delaying,
deferring or preventing a change of control of us or the removal of existing management. We have no preference shares issued and outstanding
at the date hereof. Although we do not currently intend to issue any preference shares, we cannot assure you that we will not do so in
the future. No preference shares were registered in our initial public offering.

 

    6

     

    

 

Warrants

 

Public Shareholders’ Warrants

 

Each whole warrant entitles
the registered holder to purchase one Class A ordinary share at a price of  $11.50 per share, subject to adjustment as discussed
below, at any time commencing on the later of one year from the closing of our initial public offering and 30 days after the completion
of our initial business combination, except as discussed in the immediately succeeding paragraph. Pursuant to the warrant agreement, a
warrant holder may exercise its warrants only for a whole number of Class A ordinary shares. This means only a whole warrant may
be exercised at a given time by a warrant holder. No fractional warrants will be issued upon separation of the units and only whole
warrants will trade. Accordingly, unless you purchase at least two units, you will not be able to receive or trade a whole warrant.
The warrants will expire five years after the completion of our initial business combination, at 5:00 p.m., New York City time,
or earlier upon redemption or liquidation.

 

We are not obligated to deliver
any Class A ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless
a registration statement under the Securities Act with respect to the Class A ordinary shares underlying the warrants is then effective
and a prospectus relating thereto is current, subject to our satisfying our obligations described below with respect to registration,
or a valid exemption from registration is available. No warrant will be exercisable for cash or on a cashless basis, and we will not be
obligated to issue a Class A ordinary share upon exercise of a warrant unless the Class A ordinary share issuable upon such
warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered
holder of the warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to
a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless.
In no event will we be required to net cash settle any warrant. In the event that a registration statement is not effective for the exercised
warrants, the purchaser of a unit containing such warrant will have paid the full purchase price for the unit solely for the Class A
ordinary share underlying such unit.

 

We have agreed that as soon
as practicable, but in no event later than 20 business days after the closing of our initial business combination, we used our commercially
reasonable efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A ordinary
shares issuable upon exercise of the warrants, and we used our commercially reasonable efforts to cause the same to become effective within
60 business days after the closing of our initial business combination, and to maintain the effectiveness of such registration statement
and a current prospectus relating to those Class A ordinary shares until the warrants expire or are redeemed, as specified in the
warrant agreement; provided that if our Class A ordinary shares are at the time of any exercise of a warrant not listed on a national
securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the
Securities Act, we may, at our option, require holders of public warrants who exercise their warrants to do so on a “cashless basis”
in accordance with Section 3(a)(9) of the Securities Act and, in the event we so elect, we will not be required to file or maintain
in effect a registration statement, but we will use our commercially reasonably efforts to register or qualify the shares under applicable
blue sky laws to the extent an exemption is not available. If a registration statement covering the Class A ordinary shares issuable
upon exercise of the warrants is not effective by the 60th day after the closing of the initial business combination, warrant holders
may, until such time as there is an effective registration statement and during any period when we will have failed to maintain an effective
registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities
Act or another exemption, but we will use our commercially reasonably efforts to register or qualify the shares under applicable blue
sky laws to the extent an exemption is not available. In the case of a cashless exercise, each holder would pay the exercise price by
surrendering the warrants for that number of Class A ordinary shares equal to the lesser of  (A) the quotient obtained
by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the
 “fair market value” (defined below) less the exercise price of the warrants by (y) the fair market value and (B) 0.361
Class A ordinary shares per whole warrant. The “fair market value” as used in this paragraph shall mean the volume weighted
average price of the Class A ordinary shares for the 10 trading days ending on the trading day prior to the date on which the notice
of exercise is received by the warrant agent.

 

    7

     

    

 

Redemption of warrants
when the price per Class A ordinary share equals or exceeds $18.00.  Once the warrants become exercisable, we
may redeem the outstanding warrants (except as described herein with respect to the private placement warrants):

 

	•	in whole and not in part;

 

	•	at a price of  $0.01 per warrant;

 

	•	upon a minimum of 30 days’ prior written notice of redemption to each warrant holder; and

 

	•	if, and only if, the closing price of the Class A ordinary shares equals or exceeds $18.00 per share
(as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described under the
heading “—Warrants—Public Shareholders’ Warrants—Anti-Dilution Adjustments”) for any 20 trading days
within a 30-trading day period ending three trading days before we send the notice of redemption to the warrant holders.

 

We will not redeem the warrants
as described above unless a registration statement under the Securities Act covering the issuance of the Class A ordinary shares
issuable upon exercise of the warrants is then effective and a current prospectus relating to those Class A ordinary shares is available
throughout the 30-day redemption period. If and when the warrants become redeemable by us, we may exercise our redemption right even if
we are unable to register or qualify the underlying securities for sale under all applicable state securities laws.

 

We have established the last
of the redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium
to the warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrant
holder will be entitled to exercise his, her or its warrant prior to the scheduled redemption date. However, the price of the Class A
ordinary shares may fall below the $18.00 redemption trigger price (as adjusted for adjustments to the number of shares issuable upon
exercise or the exercise price of a warrant as described under the heading “—Warrants—Public Shareholders’ Warrants—Anti-dilution
Adjustments”) as well as the $11.50 (for whole shares) warrant exercise price after the redemption notice is issued.

 

Redemption of warrants
when the price per Class A ordinary share equals or exceeds $10.00. Once the warrants become exercisable, we may redeem the outstanding
warrants:

 

	•	in whole and not in part;

 

	•	at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption provided
that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined
by reference to the table below, based on the redemption date and the “fair market value” of our Class A ordinary shares
(as defined below) except as otherwise described below;

 

	•	if, and only if, the closing price of our Class A ordinary shares equals or exceeds $10.00 per public
share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described under
the heading “—Warrants—Public Shareholders’ Warrants—Anti-Dilution Adjustments”) for any 20 trading
days within the 30-trading day period ending three trading days before we send the notice of redemption to the warrant holders; and

 

	•	if the closing price of the Class A ordinary shares for any 20 trading days within a 30-trading day
period ending on the third trading day prior to the date on which we send the notice of redemption to the warrant holders is less than
$18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described
under the heading “—Warrants—Public Shareholders’ Warrants—Anti-dilution Adjustments”), the private
placement warrants must also be concurrently called for redemption on the same terms as the outstanding public warrants, as described
above.

 

    8

     

    

 

Beginning on the date the
notice of redemption is given until the warrants are redeemed or exercised, holders may elect to exercise their warrants on a cashless
basis. The numbers in the table below represent the number of Class A ordinary shares that a warrant holder will receive upon such
cashless exercise in connection with a redemption by us pursuant to this redemption feature, based on the “fair market value”
of our Class A ordinary shares on the corresponding redemption date (assuming holders elect to exercise their warrants and such warrants
are not redeemed for $0.10 per warrant), determined for these purposes based on volume weighted average price of our Class A ordinary
shares during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of warrants,
and the number of months that the corresponding redemption date precedes the expiration date of the warrants, each as set forth in
the table below. We will provide our warrant holders with the final fair market value no later than one business day after the 10-trading
day period described above ends.

 

Pursuant to the warrant agreement,
references above to Class A ordinary shares shall include a security other than Class A ordinary shares into which the Class A
ordinary shares have been converted or exchanged for in the event we are not the surviving company in our initial business combination.
The numbers in the table below will not be adjusted when determining the number of Class A ordinary shares to be issued upon exercise
of the warrants if we are not the surviving entity following our initial business combination.

 

The share prices set forth
in the column headings of the table below will be adjusted as of any date on which the number of shares issuable upon exercise of a warrant
or the exercise price of a warrant is adjusted as set forth under the heading “—Anti-dilution Adjustments” below. If
the number of shares issuable upon exercise of a warrant is adjusted, the adjusted share prices in the column headings will equal the
share prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the number of shares deliverable
upon exercise of a warrant immediately prior to such adjustment and the denominator of which is the number of shares deliverable upon
exercise of a warrant as so adjusted. The number of shares in the table below shall be adjusted in the same manner and at the same time
as the number of shares issuable upon exercise of a warrant. If the exercise price of a warrant is adjusted, (a) in the case of an
adjustment pursuant to the fifth paragraph under the heading “— Anti-dilution Adjustments” below, the adjusted share
prices in the column headings will equal the unadjusted share price multiplied by a fraction, the numerator of which is the higher of
the Market Value and the Newly Issued Price as set forth under the heading “— Anti-dilution Adjustments” and the denominator
of which is $10.00 and (b) in the case of an adjustment pursuant to the second paragraph under the heading “— Anti-dilution
Adjustments” below, the adjusted share prices in the column headings will equal the unadjusted share price less the decrease in
the exercise price of a warrant pursuant to such exercise price adjustment.

 

    9

     

    

 

	 	 	Fair
    Market Value of Class A Ordinary Shares	 
	Redemption Date (period
    to	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	expiration
    of warrants)	 	≤$10.00	 	 	11.00	 	 	12.00	 	 	13.00	 	 	14.00	 	 	15.00	 	 	16.00	 	 	17.00	 	 	≥18.00	 
	60 months	 	 	0.261	 	 	 	0.281	 	 	 	0.297	 	 	 	0.311	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.361	 
	57 months	 	 	0.257	 	 	 	0.277	 	 	 	0.294	 	 	 	0.310	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.361	 
	54 months	 	 	0.252	 	 	 	0.272	 	 	 	0.291	 	 	 	0.307	 	 	 	0.322	 	 	 	0.335	 	 	 	0.347	 	 	 	0.357	 	 	 	0.361	 
	51 months	 	 	0.246	 	 	 	0.268	 	 	 	0.287	 	 	 	0.304	 	 	 	0.320	 	 	 	0.333	 	 	 	0.346	 	 	 	0.357	 	 	 	0.361	 
	48 months	 	 	0.241	 	 	 	0.263	 	 	 	0.283	 	 	 	0.301	 	 	 	0.317	 	 	 	0.332	 	 	 	0.344	 	 	 	0.356	 	 	 	0.361	 
	45 months	 	 	0.235	 	 	 	0.258	 	 	 	0.279	 	 	 	0.298	 	 	 	0.315	 	 	 	0.330	 	 	 	0.343	 	 	 	0.356	 	 	 	0.361	 
	42 months	 	 	0.228	 	 	 	0.252	 	 	 	0.274	 	 	 	0.294	 	 	 	0.312	 	 	 	0.328	 	 	 	0.342	 	 	 	0.355	 	 	 	0.361	 
	39 months	 	 	0.221	 	 	 	0.246	 	 	 	0.269	 	 	 	0.290	 	 	 	0.309	 	 	 	0.325	 	 	 	0.340	 	 	 	0.354	 	 	 	0.361	 
	36 months	 	 	0.213	 	 	 	0.239	 	 	 	0.263	 	 	 	0.285	 	 	 	0.305	 	 	 	0.323	 	 	 	0.339	 	 	 	0.353	 	 	 	0.361	 
	33 months	 	 	0.205	 	 	 	0.232	 	 	 	0.257	 	 	 	0.280	 	 	 	0.301	 	 	 	0.320	 	 	 	0.337	 	 	 	0.352	 	 	 	0.361	 
	30 months	 	 	0.196	 	 	 	0.224	 	 	 	0.250	 	 	 	0.274	 	 	 	0.297	 	 	 	0.316	 	 	 	0.335	 	 	 	0.351	 	 	 	0.361	 
	27 months	 	 	0.185	 	 	 	0.214	 	 	 	0.242	 	 	 	0.268	 	 	 	0.291	 	 	 	0.313	 	 	 	0.332	 	 	 	0.350	 	 	 	0.361	 
	24 months	 	 	0.173	 	 	 	0.204	 	 	 	0.233	 	 	 	0.260	 	 	 	0.285	 	 	 	0.308	 	 	 	0.329	 	 	 	0.348	 	 	 	0.361	 
	21 months	 	 	0.161	 	 	 	0.193	 	 	 	0.223	 	 	 	0.252	 	 	 	0.279	 	 	 	0.304	 	 	 	0.326	 	 	 	0.347	 	 	 	0.361	 
	18 months	 	 	0.146	 	 	 	0.179	 	 	 	0.211	 	 	 	0.242	 	 	 	0.271	 	 	 	0.298	 	 	 	0.322	 	 	 	0.345	 	 	 	0.361	 
	15 months	 	 	0.130	 	 	 	0.164	 	 	 	0.197	 	 	 	0.230	 	 	 	0.262	 	 	 	0.291	 	 	 	0.317	 	 	 	0.342	 	 	 	0.361	 
	12 months	 	 	0.111	 	 	 	0.146	 	 	 	0.181	 	 	 	0.216	 	 	 	0.250	 	 	 	0.282	 	 	 	0.312	 	 	 	0.339	 	 	 	0.361	 
	9 months	 	 	0.090	 	 	 	0.125	 	 	 	0.162	 	 	 	0.199	 	 	 	0.237	 	 	 	0.272	 	 	 	0.305	 	 	 	0.336	 	 	 	0.361	 
	6 months	 	 	0.065	 	 	 	0.099	 	 	 	0.137	 	 	 	0.178	 	 	 	0.219	 	 	 	0.259	 	 	 	0.296	 	 	 	0.331	 	 	 	0.361	 
	3 months	 	 	0.034	 	 	 	0.065	 	 	 	0.104	 	 	 	0.150	 	 	 	0.197	 	 	 	0.243	 	 	 	0.286	 	 	 	0.326	 	 	 	0.361	 
	0 months	 	 	—	 	 	 	—	 	 	 	0.042	 	 	 	0.115	 	 	 	0.179	 	 	 	0.233	 	 	 	0.281	 	 	 	0.323	 	 	 	0.361	 

 

The exact fair market value
and redemption date may not be set forth in the table above, in which case, if the fair market value is between two values in the table
or the redemption date is between two redemption dates in the table, the number of Class A ordinary shares to be issued for each
warrant exercised will be determined by a straight-line interpolation between the number of shares set forth for the higher and lower
fair market values and the earlier and later redemption dates, as applicable, based on a 365 or 366-day year, as applicable. For example,
if the volume weighted average price of our Class A ordinary shares during the 10 trading days immediately following the date on
which the notice of redemption is sent to the holders of the warrants is $11.00 per share, and at such time there are 57 months until
the expiration of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants for 0.277 Class A
ordinary shares for each whole warrant. For an example where the exact fair market value and redemption date are not as set forth in the
table above, if the volume weighted average price of our Class A ordinary shares during the 10 trading days immediately following
the date on which the notice of redemption is sent to the holders of the warrants is $13.50 per share, and at such time there are 38 months
until the expiration of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants for 0.298
Class A ordinary shares for each whole warrant. In no event will the warrants be exercisable on a cashless basis in connection with
this redemption feature for more than 0.361 Class A ordinary shares per warrant (subject to adjustment). Finally, as reflected in
the table above, if the warrants are out of the money and about to expire, they cannot be exercised on a cashless basis in connection
with a redemption by us pursuant to this redemption feature, since they will not be exercisable for any Class A ordinary shares.

 

    10

     

    

 

This redemption feature differs
from the typical warrant redemption features used in many other blank check offerings, which typically only provide for a redemption of
warrants for cash (other than the private placement warrants) when the trading price for the Class A ordinary shares exceeds $18.00
per share for a specified period of time. This redemption feature is structured to allow for all of the outstanding warrants to be redeemed
when the Class A ordinary shares are trading at or above $10.00 per public share, which may be at a time when the trading price of
our Class A ordinary shares is below the exercise price of the warrants. We have established this redemption feature to provide us
with the flexibility to redeem the warrants without the warrants having to reach the $18.00 per share threshold set forth above under
 “—Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00.” Holders choosing
to exercise their warrants in connection with a redemption pursuant to this feature will, in effect, receive a number of shares for their
warrants based on an option pricing model with a fixed volatility input as of the date of our initial public offering. This redemption
right provides us with an additional mechanism by which to redeem all of the outstanding warrants, and therefore have certainty as to
our capital structure as the warrants would no longer be outstanding and would have been exercised or redeemed. We will be required to
pay the applicable redemption price to warrant holders if we choose to exercise this redemption right and it will allow us to quickly
proceed with a redemption of the warrants if we determine it is in our best interest to do so. As such, we would redeem the warrants in
this manner when we believe it is in our best interest to update our capital structure to remove the warrants and pay the redemption price
to the warrant holders.

 

As stated above, we can redeem
the warrants when the Class A ordinary shares are trading at a price starting at $10.00, which is below the exercise price of 
$11.50, because it will provide certainty with respect to our capital structure and cash position while providing warrant holders with
the opportunity to exercise their warrants on a cashless basis for the applicable number of shares. If we choose to redeem the warrants
when the Class A ordinary shares are trading at a price below the exercise price of the warrants, this could result in the warrant
holders receiving fewer Class A ordinary shares than they would have received if they had chosen to wait to exercise their warrants
for Class A ordinary shares if and when such Class A ordinary shares were trading at a price higher than the exercise price
of  $11.50.

 

No fractional Class A
ordinary shares will be issued upon exercise. If, upon exercise, a holder would be entitled to receive a fractional interest in a share,
we will round down to the nearest whole number of the number of Class A ordinary shares to be issued to the holder. If, at the time
of redemption, the warrants are exercisable for a security other than the Class A ordinary shares pursuant to the warrant agreement
(for instance, if we are not the surviving company in our initial business combination), the warrants may be exercised for such security.
At such time as the warrants become exercisable for a security other than the Class A ordinary shares, the company (or surviving
company) will use its commercially reasonable efforts to register under the Securities Act the security issuable upon the exercise of
the warrants.

 

Redemption Procedures.   A
holder of a warrant may notify us in writing in the event it elects to be subject to a requirement that such holder will not have the
right to exercise such warrant, to the extent that after giving effect to such exercise, such person (together with such person’s
affiliates), to the warrant agent’s actual knowledge, would beneficially own in excess of 9.8% (or such other amount as a holder
may specify) of the Class A ordinary shares issued and outstanding immediately after giving effect to such exercise.

 

Anti-dilution Adjustments.   If
the number of outstanding Class A ordinary shares is increased by a capitalization or share dividend payable in Class A ordinary
shares, or by a split-up of ordinary shares or other similar event, then, on the effective date of such capitalization or share dividend,
split-up or similar event, the number of Class A ordinary shares issuable on exercise of each warrant will be increased in proportion
to such increase in the outstanding ordinary shares. A rights offering made to all or substantially all holders of ordinary shares entitling
holders to purchase Class A ordinary shares at a price less than the “historical fair market value” (as defined below)
will be deemed a share dividend of a number of Class A ordinary shares equal to the product of  (i) the number of Class A
ordinary shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that
are convertible into or exercisable for Class A ordinary shares) and (ii) one minus the quotient of  (x) the price
per Class A ordinary share paid in such rights offering and (y) the historical fair market value. For these purposes, (i) if
the rights offering is for securities convertible into or exercisable for Class A ordinary shares, in determining the price payable
for Class A ordinary shares, there will be taken into account any consideration received for such rights, as well as any additional
amount payable upon exercise or conversion and (ii) “historical fair market value” means the volume weighted average
price of Class A ordinary shares as reported during the 10 trading day period ending on the trading day prior to the first date on
which the Class A ordinary shares trade on the applicable exchange or in the applicable market, regular way, without the right to
receive such rights.

 

    11

     

    

In addition, if we, at any
time while the warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to all
or substantially all of the holders of the Class A ordinary shares on account of such Class A ordinary shares (or other securities
into which the warrants are convertible), other than (a) as described above, (b) any cash dividends or cash distributions which,
when combined on a per share basis with all other cash dividends and cash distributions paid on the Class A ordinary shares during
the 365-day period ending on the date of declaration of such dividend or distribution does not exceed $0.50 (as adjusted to appropriately
reflect any other adjustments and excluding cash dividends or cash distributions that resulted in an adjustment to the exercise price
or to the number of Class A ordinary shares issuable on exercise of each warrant) but only with respect to the amount of the aggregate
cash dividends or cash distributions equal to or less than $0.50 per share, (c) to satisfy the redemption rights of the holders of
Class A ordinary shares in connection with a proposed initial business combination, (d) to satisfy the redemption rights of
the holders of Class A ordinary shares in connection with a shareholder vote to amend our amended and restated memorandum and articles
of association (A) to modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the
right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do
not complete our initial business combination within 18 months from the closing of our initial public offering, prior to the Contractual
Redemption Date if extended at our sponsor's option or during any Extension Period, or (B) with respect to any other provision relating
to the rights of holders of our Class A ordinary shares, or (e) in connection with the redemption of our public shares upon
our failure to complete our initial business combination, then the warrant exercise price will be decreased, effective immediately after
the effective date of such event, by the amount of cash and/or the fair market value of any securities or other assets paid on each Class A
ordinary share in respect of such event.

 

If the number of outstanding
Class A ordinary shares is decreased by a consolidation, combination, reverse share sub-division or reclassification of Class A
ordinary shares or other similar event, then, on the effective date of such consolidation, combination, reverse share sub-division, reclassification
or similar event, the number of Class A ordinary shares issuable on exercise of each warrant will be decreased in proportion to such
decrease in outstanding Class A ordinary shares.

 

Whenever the number of Class A
ordinary shares purchasable upon the exercise of the warrants is adjusted, as described above, the warrant exercise price will be adjusted
by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which will be the
number of Class A ordinary shares purchasable upon the exercise of the warrants immediately prior to such adjustment and (y) the
denominator of which will be the number of Class A ordinary shares so purchasable immediately thereafter.

 

In addition, if  (x) we
issue additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing
of our initial business combination at an issue price or effective issue price of less than $9.20 per ordinary share (with such issue
price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our sponsor
or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates, as applicable, prior to such
issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of
the total equity proceeds, and interest thereon, available for the funding of our initial business combination on the date of the consummation
of our initial business combination (net of redemptions), and (z) the volume weighted average trading price of our Class A ordinary
shares during the 20 trading day period starting on the trading day prior to the day on which we consummate our initial business combination
(such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest
cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption trigger price
described above under “—Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00”
and “—Redemption of warrants when the price per Class A ordinary shares equals or exceeds $10.00” will be adjusted
(to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption
trigger price described above under “—Redemption of warrants when the price per Class A ordinary share equals or exceeds
$10.00” will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price.

 

    12

     

    

In case of any reclassification
or reorganization of the outstanding Class A ordinary shares (other than those described above or that solely affects the par value
of such Class A ordinary shares), or in the case of any merger or consolidation of us with or into another corporation (other than
a consolidation or merger in which we are the continuing corporation and that does not result in any reclassification or reorganization
of our outstanding Class A ordinary shares), or in the case of any sale or conveyance to another corporation or entity of the assets
or other property of us as an entirety or substantially as an entirety in connection with which we are dissolved, the holders of the warrants
will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the warrants and
in lieu of the Class A ordinary shares immediately theretofore purchasable and receivable upon the exercise of the rights represented
thereby, the kind and amount of Class A ordinary shares or other securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the warrants would
have received if such holder had exercised their warrants immediately prior to such event. However, if such holders were entitled to exercise
a right of election as to the kind or amount of securities, cash or other assets receivable upon such consolidation or merger, then the
kind and amount of securities, cash or other assets for which each warrant will become exercisable will be deemed to be the weighted average
of the kind and amount received per share by such holders in such consolidation or merger that affirmatively make such election, and if
a tender, exchange or redemption offer has been made to and accepted by such holders (other than a tender, exchange or redemption offer
made by the company in connection with redemption rights held by shareholders of the company as provided for in the company’s amended
and restated memorandum and articles of association or as a result of the redemption of Class A ordinary shares by the company if
a proposed initial business combination is presented to the shareholders of the company for approval) under circumstances in which, upon
completion of such tender or exchange offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under
the Exchange Act) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2
under the Exchange Act) and any members of any such group of which any such affiliate or associate is a part, own beneficially (within
the meaning of Rule 13d-3 under the Exchange Act) more than 50% of the issued and outstanding Class A ordinary shares, the holder
of a warrant will be entitled to receive the highest amount of cash, securities or other property to which such holder would actually
have been entitled as a shareholder if such warrant holder had exercised the warrant prior to the expiration of such tender or exchange
offer, accepted such offer and all of the Class A ordinary shares held by such holder had been purchased pursuant to such tender
or exchange offer, subject to adjustment (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible
to the adjustments provided for in the warrant agreement. If less than 70% of the consideration receivable by the holders of Class A
ordinary shares in such a transaction is payable in the form of Class A ordinary shares in the successor entity that is listed for
trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or
quoted immediately following such event, and if the registered holder of the warrant properly exercises the warrant within thirty days
following public disclosure of such transaction, the warrant exercise price will be reduced as specified in the warrant agreement based
on the Black-Scholes value (as defined in the warrant agreement) of the warrant. The purpose of such exercise price reduction is to provide
additional value to holders of the warrants when an extraordinary transaction occurs during the exercise period of the warrants pursuant
to which the holders of the warrants otherwise do not receive the full potential value of the warrants. The purpose of such exercise price
reduction is to provide additional value to holders of the warrants when an extraordinary transaction occurs during the exercise period
of the warrants pursuant to which the holders of the warrants otherwise do not receive the full potential value of the warrants.

 

The warrants will be issued
in registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. The
warrant agreement provides that the terms of the warrants may be amended without the consent of any holder for the purpose of 
(i) curing any ambiguity or correct any mistake, including to conform the provisions of the warrant agreement to the description
of the terms of the warrants and the warrant agreement set forth in our initial public offering, or defective provision (ii) amending
the provisions relating to cash dividends on ordinary shares as contemplated by and in accordance with the warrant agreement or (iii) adding
or changing any provisions with respect to matters or questions arising under the warrant agreement as the parties to the warrant agreement
may deem necessary or desirable and that the parties deem to not adversely affect the rights of the registered holders of the warrants,
provided that the approval by the holders of at least 65% of the then-outstanding public warrants is required to make any change that
adversely affects the interests of the registered holders. You should review a copy of the warrant agreement, which was filed as an exhibit
to our Current Report on Form 8-K filed with the SEC on November 30, 2020, for a complete description of the terms and conditions
applicable to the warrants.

 

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The warrant holders do not
have the rights or privileges of holders of ordinary shares and any voting rights until they exercise their warrants and receive Class A
ordinary shares. After the issuance of Class A ordinary shares upon exercise of the warrants, each holder will be entitled to one
vote for each share held of record on all matters to be voted on by shareholders.

 

No fractional warrants will
be issued upon separation of the units and only whole warrants will trade. If, upon exercise of the warrants, a holder would be entitled
to receive a fractional interest in a share, we will, upon exercise, round down to the nearest whole number the number of Class A
ordinary shares to be issued to the warrant holder.

 

We have agreed that, subject
to applicable law, any action, proceeding or claim against us arising out of or relating in any way to the warrant agreement will be brought
and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and we
irrevocably submit to such jurisdiction, which jurisdiction will be the exclusive forum for any such action, proceeding or claim. See
 “Risk Factors—Our warrant agreement will designate the courts of the State of New York or the United States District Court
for the Southern District of New York as the sole and exclusive forum for certain types of actions and proceedings that may be initiated
by holders of our warrants, which could limit the ability of warrant holders to obtain a favorable judicial forum for disputes with our
company.” This provision applies to claims under the Securities Act but does not apply to claims under the Exchange Act or any claim
for which the federal district courts of the United States of America are the sole and exclusive forum.

 

Private Placement Warrants

 

Except as described below,
the private placement warrants have terms and provisions that are identical to those of the warrants sold as part of the units in
our initial public offering. The private placement warrants (including the Class A ordinary shares issuable upon exercise of the
private placement warrants) will not be transferable, assignable or salable until 30 days after the completion of our initial business
combination (except pursuant to limited exceptions as described under “Principal Shareholders—Transfers
of Founder Shares and Private Placement Warrants,” to our officers and directors and other persons or entities affiliated with the
initial purchasers of the private placement warrants) and they will not be redeemable by us (except as described under “—Warrants—Public
Shareholders’ Warrants—Redemption of warrants when the price per Class A ordinary share
equals or exceeds $10.00”) so long as they are held by our sponsor or its permitted transferees (except as otherwise set forth herein).
Our sponsor, or its permitted transferees, has the option to exercise the private placement warrants on a cashless basis. If the private
placement warrants are held by holders other than our sponsor or its permitted transferees, the private placement warrants will be redeemable
by us in all redemption scenarios and exercisable by the holders on the same basis as the warrants included in the units sold in
our initial public offering. Any amendment to the terms of the private placement warrants or any provision of the warrant agreement with
respect to the private placement warrants will require a vote of holders of at least 65% of the number of the then outstanding private
placement warrants.

 

Except as described above
under “—Public Shareholders’ Warrants—Redemption of warrants when the price per Class A ordinary share equals
or exceeds $10.00,” if holders of the private placement warrants elect to exercise them on a cashless basis, they would pay the
exercise price by surrendering his, her or its warrants for that number of Class A ordinary shares equal to the quotient obtained
by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the
 “Sponsor fair market value” (defined below) over the exercise price of the warrants by (y) the Sponsor fair market value.
For these purposes, the “Sponsor fair market value” shall mean the average reported closing price of the Class A ordinary
shares for the 10 trading days ending on the third trading day prior to the date on which the notice of warrant exercise is sent to the
warrant agent. The reason that we have agreed that these warrants will be exercisable on a cashless basis so long as they are held by
our sponsor and its permitted transferees is because it is not known at this time whether they will be affiliated with us following a
business combination. If they remain affiliated with us, their ability to sell our securities in the open market will be significantly
limited. We expect to have policies in place that restrict insiders from selling our securities except during specific periods of time.
Even during such periods of time when insiders will be permitted to sell our securities, an insider cannot trade in our securities if
he or she is in possession of material non-public information. Accordingly, unlike public shareholders who could exercise their warrants
and sell the Class A ordinary shares received upon such exercise freely in the open market in order to recoup the cost of such exercise,
the insiders could be significantly restricted from selling such securities. As a result, we believe that allowing the holders to exercise
such warrants on a cashless basis is appropriate.

 

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In order to fund working
capital deficiencies or finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate
of our sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required. Up to $1,500,000
of such loans may be convertible into warrants of the post business combination entity at a price of $1.00 per warrant at the option of
the lender. Such warrants would be identical to the private placement warrants.

 

Dividends

 

We have not paid any cash
dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination.
The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general
financial condition subsequent to completion of our initial business combination. The payment of any cash dividends subsequent to our
initial business combination will be within the discretion of our board of directors at such time. If we incur any indebtedness in connection
with a business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith.

 

Our Transfer Agent and Warrant Agent

 

The transfer agent for our
ordinary shares and warrant agent for our warrants is Continental Stock Transfer & Trust Company. We have agreed to indemnify
Continental Stock Transfer & Trust Company in its roles as transfer agent and warrant agent, its agents and each of its shareholders,
directors, officers and employees against all claims and losses that may arise out of acts performed or omitted for its activities in
that capacity, except for any claims and losses due to any gross negligence or intentional misconduct of the indemnified person or entity.

 

Listing of Securities

 

We intend to apply to have
our units listed on the Nasdaq under the symbol “SVSVU.” Once the securities comprising the units begin separate
trading, we expect that the Class A ordinary shares and warrants will be listed on the Nasdaq under the symbols “SV”
and “SVSVW,” respectively. The units will automatically separate into their component parts and will not be traded following
the completion of our initial business combination.

 

Certain Differences in Corporate Law

 

Cayman Islands companies
are governed by the Companies Act. The Companies Act is modeled on English Law but does not follow recent English Law statutory enactments,
and differs from laws applicable to United States corporations and their shareholders. Set forth below is a summary of the material differences
between the provisions of the Companies Act applicable to us and the laws applicable to companies incorporated in the United States and
their shareholders.

 

Mergers and Similar Arrangements.   In
certain circumstances, the Companies Act allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman
Islands exempted company and a company incorporated in another jurisdiction (provided that is facilitated by the laws of that other
jurisdiction).

 

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Where the merger or consolidation
is between two Cayman Islands companies, the directors of each company must approve a written plan of merger or consolidation containing
certain prescribed information. That plan or merger or consolidation must then be authorized by either (a) a special resolution (usually
a majority of two-thirds in value of the voting shares voted at a general meeting) of the shareholders of each company; or (b) such
other authorization, if any, as may be specified in such constituent company’s articles of association. No shareholder resolution
is required for a merger between a parent company (i.e., a company that owns at least 90% of the issued shares of each class in a subsidiary
company) and its subsidiary company. The consent of each holder of a fixed or floating security interest of a constituent company must
be obtained, unless the court waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the requirements
of the Companies Act (which includes certain other formalities) have been complied with, the Registrar of Companies will register the
plan of merger or consolidation.

 

Where the merger or consolidation
involves a foreign company, the procedure is similar, save that with respect to the foreign company, the directors of the Cayman Islands
exempted company are required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements
set out below have been met: (i) that the merger or consolidation is permitted or not prohibited by the constitutional documents
of the foreign company and by the laws of the jurisdiction in which the foreign company is incorporated, and that those laws and any requirements
of those constitutional documents have been or will be complied with; (ii) that no petition or other similar proceeding has been
filed and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign company in any jurisdictions; (iii) that
no receiver, trustee, administrator or other similar person has been appointed in any jurisdiction and is acting in respect of the foreign
company, its affairs or its property or any part thereof; and (iv) that no scheme, order, compromise or other similar arrangement
has been entered into or made in any jurisdiction whereby the rights of creditors of the foreign company are and continue to be suspended
or restricted.

 

Where the surviving company
is the Cayman Islands exempted company, the directors of the Cayman Islands exempted company are further required to make a declaration
to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that
the foreign company is able to pay its debts as they fall due and that the merger or consolidated is bona fide and not intended to defraud
unsecured creditors of the foreign company; (ii) that in respect of the transfer of any security interest granted by the foreign
company to the surviving or consolidated company (a) consent or approval to the transfer has been obtained, released or waived; (b) the
transfer is permitted by and has been approved in accordance with the constitutional documents of the foreign company; and (c) the
laws of the jurisdiction of the foreign company with respect to the transfer have been or will be complied with; (iii) that the foreign
company will, upon the merger or consolidation becoming effective, cease to be incorporated, registered or exist under the laws of the
relevant foreign jurisdiction; and (iv) that there is no other reason why it would be against the public interest to permit the merger
or consolidation.

 

Where the above procedures
are adopted, the Companies Act provides for a right of dissenting shareholders to be paid a payment of the fair value of his shares upon
their dissenting to the merger or consolidation if they follow a prescribed procedure. In essence, that procedure is as follows: (a) the
shareholder must give his written objection to the merger or consolidation to the constituent company before the vote on the merger or
consolidation, including a statement that the shareholder proposes to demand payment for his shares if the merger or consolidation is
authorized by the vote; (b) within 20 days following the date on which the merger or consolidation is approved by the shareholders,
the constituent company must give written notice to each shareholder who made a written objection; (c) a shareholder must within
20 days following receipt of such notice from the constituent company, give the constituent company a written notice of his intention
to dissent including, among other details, a demand for payment of the fair value of his shares; (d) within seven days following
the date of the expiration of the period set out in paragraph (b) above or seven days following the date on which the plan of merger
or consolidation is filed, whichever is later, the constituent company, the surviving company or the consolidated company must make a
written offer to each dissenting shareholder to purchase his shares at a price that the company determines is the fair value and if the
company and the shareholder agree the price within 30 days following the date on which the offer was made, the company must pay the
shareholder such amount; and (e) if the company and the shareholder fail to agree a price within such 30 day period, within 20 days
following the date on which such 30 day period expires, the company (and any dissenting shareholder) must file a petition with the Cayman
Islands Grand Court to determine the fair value and such petition must be accompanied by a list of the names and addresses of the dissenting
shareholders with whom agreements as to the fair value of their shares have not been reached by the company. At the hearing of that petition,
the court has the power to determine the fair value of the shares together with a fair rate of interest, if any, to be paid by the company
upon the amount determined to be the fair value. Any dissenting shareholder whose name appears on the list filed by the company may participate
fully in all proceedings until the determination of fair value is reached. These rights of a dissenting shareholder are not available
in certain circumstances, for example, to dissenters holding shares of any class in respect of which an open market exists on a recognized
stock exchange or recognized interdealer quotation system at the relevant date or where the consideration for such shares to be contributed
are shares of any company listed on a national securities exchange or shares of the surviving or consolidated company.

 

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Moreover, Cayman Islands
law has separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances, schemes
of arrangement will generally be more suited for complex mergers or other transactions involving widely held companies, commonly referred
to in the Cayman Islands as a “scheme of arrangement” which may be tantamount to a merger. In the event that a merger was
sought pursuant to a scheme of arrangement (the procedures for which are more rigorous and take longer to complete than the procedures
typically required to consummate a merger in the United States), the arrangement in question must be approved by a majority in number
of each class of shareholders and creditors with whom the arrangement is to be made and who must in addition represent three-fourths in
value of each such class of shareholders or creditors, as the case may be, that are present and voting either in person or by proxy at
a meeting, or meeting summoned for that purpose. The convening of the meetings and subsequently the terms of the arrangement must be sanctioned
by the Grand Court of the Cayman Islands. While a dissenting shareholder would have the right to express to the court the view that the
transaction should not be approved, the court can be expected to approve the arrangement if it satisfies itself that:

 

		•	we are not proposing to act illegally or beyond the scope of our corporate authority and the statutory
provisions as to majority vote have been complied with;

 

		•	the shareholders have been fairly represented at the meeting in question;

 

		•	the arrangement is such as a businessman would reasonably approve; and

 

		•	the arrangement is not one that would more properly be sanctioned under some other provision of the Companies
Act or that would amount to a “fraud on the minority.”

 

If a scheme of arrangement
or takeover offer (as described below) is approved, any dissenting shareholder would have no rights comparable to appraisal rights (providing
rights to receive payment in cash for the judicially determined value of the shares), which would otherwise ordinarily be available to
dissenting shareholders of United States corporations.

 

Squeeze-out Provisions.   When
a takeover offer is made and accepted by holders of 90% of the shares to whom the offer relates within four months, the offer or
may, within a two-month period, require the holders of the remaining shares to transfer such shares on the terms of the offer. An objection
can be made to the Grand Court of the Cayman Islands, but this is unlikely to succeed unless there is evidence of fraud, bad faith, collusion
or inequitable treatment of the shareholders.

 

Further, transactions similar
to a merger, reconstruction and/or an amalgamation may in some circumstances be achieved through means other than these statutory provisions,
such as a share capital exchange, asset acquisition or control, or through contractual arrangements of an operating business.

 

Shareholders’ Suits.   Maples
and Calder, our Cayman Islands counsel, is not aware of any reported class action having been brought in a Cayman Islands court. Derivative
actions have been brought in the Cayman Islands courts, and the Cayman Islands courts have confirmed the availability for such actions.
In most cases, we will be the proper plaintiff in any claim based on a breach of duty owed to us, and a claim against (for example) our
officers or directors usually may not be brought by a shareholder. However, based both on Cayman Islands authorities and on English authorities,
which would in all likelihood be of persuasive authority and be applied by a court in the Cayman Islands, exceptions to the foregoing
principle apply in circumstances in which:

 

		•	a company is acting, or proposing to act, illegally or beyond the scope of its authority;

 

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		•	the act complained of, although not beyond the scope of the authority, could be effected if duly authorized
by more than the number of votes which have actually been obtained; or

 

		•	those who control the company are perpetrating a “fraud on the minority.”

 

A shareholder may have a
direct right of action against us where the individual rights of that shareholder have been infringed or are about to be infringed.

 

Enforcement of Civil Liabilities.   The
Cayman Islands has a different body of securities laws as compared to the United States and provides less protection to investors. Additionally,
Cayman Islands companies may not have standing to sue before the Federal courts of the United States.

 

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

 

Special Considerations for Exempted Companies.   We
are an exempted company with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies
and exempted companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands
may apply to be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary
company except for the exemptions and privileges listed below:

 

		•	an exempted company does not have to file an annual return of its shareholders with the Registrar of Companies;

 

		•	an exempted company’s register of members is not open to inspection;

 

		•	an exempted company does not have to hold an annual general meeting;

 

		•	an exempted company may issue shares with no par value;

 

		•	an exempted company may obtain an undertaking against the imposition of any future taxation (such undertakings
are usually given for 30 years in the first instance);

 

		•	an exempted company may register by way of continuation in another jurisdiction and be deregistered in
the Cayman Islands;

 

		•	an exempted company may register as a limited duration company; and

 

		•	an exempted company may register as a segregated portfolio company.

 

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“Limited liability”
means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in
exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other
circumstances in which a court may be prepared to pierce or lift the corporate veil).

 

Amended and Restated Memorandum and Articles
of Association

 

Our amended and restated
memorandum and articles of association contain provisions designed to provide certain rights and protections that apply to us until the
completion of our initial business combination. These provisions cannot be amended without a special resolution under Cayman Islands law.
As a matter of Cayman Islands law, a resolution is deemed to be a special resolution where it has been approved by either (i) the
affirmative vote of at least two-thirds (or any higher threshold specified in a company’s articles of association) of a company’s
shareholders entitled to vote and so voting at a general meeting for which notice specifying the intention to propose the resolution as
a special resolution has been given; or (ii) if so authorized by a company’s articles of association, by a unanimous written
resolution of all of the company’s shareholders. Other than as described above, our amended and restated memorandum and articles
of association provide that special resolutions must be approved either by at least two-thirds of our shareholders who attend and vote
at a general meeting of the company (i.e., the lowest threshold permissible under Cayman Islands law), or by a unanimous written resolution
of all of our shareholders.

 

Our sponsor and its permitted
transferees, if any, who collectively beneficially own 20% of our ordinary shares, will participate in any vote to amend our amended and
restated memorandum and articles of association and will have the discretion to vote in any manner they choose. Specifically, our amended
and restated memorandum and articles of association provide, among other things, that:

 

		•	If we have not consummated an initial business combination within 18 months from the closing of our initial
public offering, prior to the Contractual Redemption Date if extended at our sponsor's option or during any Extension Period, we will
(i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but no more than ten
business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the trust account, including interest and other income earned on the funds held in the trust account and not previously released to
us to pay our income taxes that were paid by us or are payable by us, if any (less up to $100,000 of interest to pay dissolution expenses)
divided by the number of the then-outstanding public shares, which redemption will completely extinguish public shareholders’ rights
as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible
following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject
in the case of clauses (ii) and (iii) to our obligations under Cayman Islands law to provide for claims of creditors and the
requirements of other applicable law;

 

		•	Prior to or in connection with our initial business combination, we may not issue additional securities
that would entitle the holders thereof to (i) receive funds from the trust account or (ii) vote as a class with our public shares
(a) on our initial business combination or on any other proposal presented to shareholders prior to or in connection with the completion
of an initial business combination or (b) to approve an amendment to our amended and restated memorandum and articles of association
to (x) extend the time we have to consummate a business combination beyond 18 months from the closing of our initial public
offering, prior to the Contractual Redemption Date if extended at our sponsor's option or during any Extension Period, or (y) amend
the foregoing provisions;

 

		•	If a shareholder vote on our initial business combination is not required by applicable law or stock exchange
listing requirements and we do not decide to hold a shareholder vote for business or other reasons, we will offer to redeem our public
shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, and will file tender offer documents with the SEC prior
to completing our initial business combination which contain substantially the same financial and other information about our initial
business combination and the redemption rights as is required under Regulation 14A of the Exchange Act;

 

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		•	So long as our securities are then listed on the Nasdaq, our initial business combination must occur with
one or more target businesses that together have an aggregate fair market value of at least 80% of the assets held in the trust account
(excluding any deferred underwriting commissions and taxes payable on the income earned on the trust account) at the time of the agreement
to enter into our initial business combination;

 

		•	Our sponsor may extend the initial period of time to consummate an initial business combination one time
by an additional six months, subject to the sponsor purchasing an additional 2,300,000 private placement warrants at $1.00 per warrant
and deposit the $2,300,000 in proceeds into the trust account on or prior to the date of the initial 18-month deadline, for such six-month
extension. Our shareholders will not be entitled to vote or redeem their shares in connection with any such extension. See "Risk
Factors—Our sponsor has the right to extend the term we have to consummate our initial business combination up to 24 months, without
providing our stockholders with redemption rights.”

 

		•	If our shareholders approve an amendment to our amended and restated memorandum and articles of association
(A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right
to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not
complete our initial business combination within 18 months from the closing of our initial public offering, prior to the Contractual
Redemption Date if extended at our sponsor's option or during any Extension Period, or (B) with respect to any other provision relating
to the rights of holders of our Class A ordinary shares, we will provide our public shareholders with the opportunity to redeem all
or a portion of their ordinary shares upon such approval at a per-share price, payable in cash, equal to the aggregate amount then on
deposit in the trust account, including interest and other income earned on the funds held in the trust account and not previously released
to us to pay our income taxes, if any, divided by the number of the then-outstanding public shares, subject to the limitations described
herein; and

 

		•	We will not effectuate our initial business combination solely with another blank check company or a similar
company with nominal operations.

 

In addition, our amended
and restated memorandum and articles of association provide that under no circumstances will we redeem our public shares in an amount
that would cause our net tangible assets to be less than $5,000,001.

 

The Companies Act permits
a company incorporated in the Cayman Islands to amend its memorandum and articles of association with the approval of a special resolution
which requires the approval of the holders of at least two-thirds of such company’s issued and outstanding ordinary shares who attend
and vote at a general meeting or by way of unanimous written resolution. A company’s articles of association may specify that the
approval of a higher majority is required but, provided the approval of the required majority is obtained, any Cayman Islands exempted
company may amend its memorandum and articles of association regardless of whether its memorandum and articles of association provide
otherwise. Accordingly, although we could amend any of the provisions relating to our proposed offering, structure and business plan which
are contained in our amended and restated memorandum and articles of association, we view all of these provisions as binding obligations
to our shareholders and neither we, nor our officers or directors, will take any action to amend or waive any of these provisions unless
we provide dissenting public shareholders with the opportunity to redeem their public shares.

 

Anti-Money Laundering, Counter-Terrorism Financing,
Prevention of Proliferation Financing and Financial Sanctions Compliance—Cayman Islands

 

If any person in the Cayman
Islands knows or suspects or has reasonable grounds for knowing or suspecting that another person is engaged in criminal conduct or money
laundering or is involved with terrorism or terrorist financing and property and the information for that knowledge or suspicion came
to their attention in the course of business in the regulated sector, or other trade, profession, business or employment, the person will
be required to report such knowledge or suspicion to (i) the Financial Reporting Authority of the Cayman Islands, pursuant to the
Proceeds of Crime Law (2020 Revision) of the Cayman Islands if the disclosure relates to criminal conduct or money laundering, or (ii) a
police officer of the rank of constable or higher, or the Financial Reporting Authority, pursuant to the Terrorism Law (2018 Revision)
of the Cayman Islands, if the disclosure relates to involvement with terrorism or terrorist financing and property. Such a report shall
not be treated as a breach of confidence or of any restriction upon the disclosure of information imposed by any enactment or otherwise.

 

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Certain Anti-takeover Provisions of our Amended
and Restated Memorandum and Articles of Association

 

Our amended and restated
memorandum and articles of association provide that our board of directors is classified into three classes of directors. As a result,
in most circumstances, a person can gain control of our board only by successfully engaging in a proxy contest at two or more annual general
meetings.

 

Our authorized but unissued
Class A ordinary shares and preference shares will be available for future issuances without shareholder approval and could be utilized
for a variety of corporate purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans.
The existence of authorized but unissued and unreserved Class A ordinary shares and preference shares could render more difficult
or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

 

Securities Eligible for Future Sale

 

As of December 31, 2020,
we had 28,750,000 ordinary shares issued and outstanding on an as-converted basis. Of these shares, the Class A ordinary shares sold
in our initial public offering (23,000,000 Class A ordinary shares) are freely tradable without restriction or further registration
under the Securities Act, except for any Class A ordinary shares purchased by one of our affiliates within the meaning of Rule 144
under the Securities Act. All of the outstanding founder shares (5,750,000 founder shares) and all of the outstanding private placement
warrants (8,900,000 private placement warrants) will be restricted securities under Rule 144, in that they were issued in private
transactions not involving a public offering. Upon the closing and sale of the additional private placement warrants, pursuant to our
sponsor’s option to purchase 2,300,000 additional private placement warrants in order to extend the initial period of time for us
to consummate an initial business combination, such private placement warrants are also restricted securities under Rule 144, in
that they were issued in private transactions not involving a public offering.

 

Rule 144

 

Pursuant to Rule 144,
a person who has beneficially owned restricted shares or warrants for at least six months would be entitled to sell their securities
provided that (i) such person is not deemed to have been one of our affiliates at the time of, or at any time during the three months
preceding, a sale and (ii) we are subject to the Exchange Act periodic reporting requirements for at least three months before
the sale and have filed all required reports under Section 13 or 15(d) of the Exchange Act during the twelve months (or
such shorter period as we were required to file reports) preceding the sale.

 

Persons who have beneficially
owned restricted shares or warrants for at least six months but who are our affiliates at the time of, or at any time during the
three months preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell within
any three-month period only a number of securities that does not exceed the greater of:

 

		•	1% of the total number of ordinary shares then-outstanding, or 287,500 shares; or

 

		•	the average weekly reported trading volume of the Class A ordinary shares during the four calendar
weeks preceding the filing of a notice on Form 144 with respect to the sale.

 

Sales by our affiliates under
Rule 144 are also limited by manner of sale provisions and notice requirements and to the availability of current public information
about us.

 

    21

     

    

Restrictions on the Use of Rule 144 by
Shell Companies or Former Shell Companies

 

Rule 144 is not available
for the resale of securities initially issued by shell companies (other than business combination related shell companies) or issuers
that have been at any time previously a shell company. However, Rule 144 also includes an important exception to this prohibition
if the following conditions are met:

 

		•	the issuer of the securities that was formerly a shell company has ceased to be a shell company;

 

		•	the issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of
the Exchange Act;

 

		•	the issuer of the securities has filed all Exchange Act reports and material required to be filed, as
applicable, during the preceding twelve months (or such shorter period that the issuer was required to file such reports and materials),
other than Form 8-K reports; and at least one year has elapsed from the time that the issuer filed current Form 10 type information
with the SEC reflecting its status as an entity that is not a shell company.

 

As a result, our sponsor
will be able to sell its founder shares and private placement warrants, as applicable, pursuant to Rule 144 without registration
one year after we have completed our initial business combination.

 

Registration and Shareholder Rights

 

The holders of the founder
shares, private placement warrants and any warrants that may be issued upon conversion of working capital loans (and any Class A
ordinary shares issuable upon the exercise of the private placement warrants and warrants that may be issued upon conversion of working
capital loans) are entitled to registration rights pursuant to a registration and shareholder rights agreement that the holders signed
at the effective closing of our initial public offering. The holders of these securities are entitled to make up to three demands, excluding
short form demands, that we register such securities. In addition, the holders have certain “piggy-back” registration rights
with respect to registration statements filed subsequent to our completion of our initial business combination. However, the registration
and shareholder rights agreement provides that we will not permit any registration statement filed under the Securities Act to become
effective until termination of the applicable lockup period, which occurs (i) in the case of the founder shares, as described in
the following paragraph, and (ii) in the case of the private placement warrants and the respective Class A ordinary shares underlying
such warrants, 30 days after the completion of our initial business combination. We will bear the expenses incurred in connection
with the filing of any such registration statements.

 

Except as described herein,
pursuant to a letter agreement that our sponsor, directors, executive officers and certain of the anchor investors have entered or will
enter into with us, our sponsor and our directors and executive officers have agreed, and certain of the anchor investors will agree,
not to transfer, assign or sell their founder shares until the earliest of  (A) one year after the completion of our initial
business combination and (B) subsequent to our initial business combination, (x) if the closing price of our Class A ordinary
shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations
and other similar transactions) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial
business combination, or (y) the date on which we complete a liquidation, merger, share exchange or other similar transaction that
results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property. Any
permitted transferees will be subject to the same restrictions and other agreements of our sponsor with respect to any founder shares.
We refer to such transfer restrictions throughout this exhibit as the lock-up.

 

In addition, pursuant to
the registration and shareholder rights agreement, our sponsor, upon and following consummation of an initial business combination, are
entitled to nominate three individuals for appointment to our board of directors, as long as the sponsor holds any securities covered
by the registration and shareholder rights agreement.

 

    22

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