Document:

EX-10.3

 Exhibit 10.3 

AMENDED AND RESTATED DEFERRED COMPENSATION AGREEMENT 

THIS AMENDED AND RESTATED DEFERRED COMPENSATION AGREEMENT (this “Agreement”), originally effective as of August 4, 2017, and
amended and restated as of March 24, 2022 (the “Effective Date”), by and between Peapack-Gladstone Bank located in Bedminster, New Jersey (the “Employer”), and Jeffrey J. Carfora (the “Executive”), formalizes the
agreements and understanding between the Employer and the Executive. 
 WITNESSETH: 

WHEREAS, the Executive is employed by the Employer; 

WHEREAS, the Employer recognizes the valuable services the Executive has performed for the Employer and wishes to further encourage the
Executive’s retention and continued employment; 
 WHEREAS, the Employer and the Executive intend this Agreement shall at all times be
administered and interpreted in compliance with Code Section 409A; 
 WHEREAS, the Employer intends this Agreement shall at all times
be administered and interpreted in such a manner as to constitute an unfunded nonqualified deferred compensation arrangement, maintained primarily to provide supplemental benefits for the Executive, in order to encourage retention and continued
employment of said Executive; 
 WHEREAS, the Employer and the Executive previously entered into a Deferred Compensation Agreement, dated as
of August 4, 2017 (the “Prior Agreement”); 
 WHEREAS, the Employer wishes to continue to contribute on a deferred basis to
the Executive by entering into this amended and restated Agreement, which replaces and supersedes the Prior Agreement, effective as of the Effective Date; 

WHEREAS, for purposes of clarity, contributions made under the Prior Agreement remain subject to the previously filed elections and this
Agreement shall not be interpreted to reduce in any way amounts previously contributed to the Executive’s Deferral Account under the Prior Agreement; and 

WHEREAS, the Employer wishes to provide the terms and conditions upon which the Employer shall pay additional benefits to the Executive, to
encourage retention and continued employment; 
 NOW THEREFORE, in consideration of the premises and of the mutual promises herein
contained, the Employer and the Executive agree as follows: 
 ARTICLE 1 

DEFINITIONS 
 For the
purpose of this Agreement, the following phrases or terms shall have the indicated meanings: 
 1.1
“Administrator” means the Board or its designee. 
 1.2 “Affiliate” means any business entity
with whom the Employer would be considered a single employer under Section 414(b) and 414(c) of the Code. Such term shall be interpreted in a manner consistent with the definition of “service recipient” contained in Code
Section 409A. 
 1.3 “Beneficiary” means the person or persons designated in writing by the Executive to receive
benefits hereunder in the event of the Executive’s death. 
 1.4 “Board” means the Board of Directors of the
Employer. 
  

 1.5 “Cause” means any of the following acts or
circumstances: gross negligence or gross neglect of duties to the Employer; conviction of a felony or of a gross misdemeanor involving moral turpitude in connection with the Executive’s employment with the Employer; or fraud, disloyalty,
dishonesty or willful violation of any law or significant Employer policy committed in connection with the Executive’s employment and resulting in a material adverse effect on the Employer. 

1.6 “Change in Control” means a change in the ownership or effective control of the Employer, or in the ownership of a
substantial portion of the assets of the Employer, as such change is defined in Code Section 409A and regulations thereunder. 
 1.7
“Claimant” means a person who believes that he or she is being denied a benefit to which he or she is entitled hereunder. 

1.8 “Code” means the Internal Revenue Code of 1986, as amended. 

1.9 “Contribution” means the amount the Employer credits to the Deferral Account according to the provisions of Article
2. 
 1.10 “Crediting Rate” means the average Wall Street Journal prime rate on the last day of
the prior quarter (March 31 prime rate for the June 30 quarter), provided that such rate shall not be more than seven and one-half percent (7.5%). 

1.11 “Disability” means a condition of the Executive whereby the Executive either: (i) is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of
any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three
months under an accident and health plan covering employees of the Employer. The Administrator will determine whether the Executive has incurred a Disability based on its own good faith determination and may require the Executive to submit to
reasonable physical and mental examinations for this purpose. The Executive will also be deemed to have incurred a Disability if determined to be totally disabled by the Social Security Administration or in accordance with a disability insurance
program, provided that the definition of disability applied under such disability insurance program complies with the initial sentence of this Section. 

1.12 “Early Involuntary Termination” means a Separation from Service prior to Normal Benefit Date which (i) is a
Termination for Good Reason or (ii) occurs other than at the Executive’s request and for reasons other than Cause or Disability or (iii) occurs more than twenty-four (24) months following a Change in Control. 

1.13 “Early Voluntary Termination” means that the Executive, prior to Normal Benefit Date, experiences a Separation from
Service for reasons other than Cause, Disability or Early Involuntary Termination, or following a Change in Control. 
 1.14
“Effective Date” means the date defined in the first paragraph of this Agreement. 
 1.15
“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
 1.16 “Holding
Company” means Peapack-Gladstone Financial Corporation, the Employer’s parent company. 
 1.17 “Normal
Benefit Date” means June 30, 2022 with respect to contributions made pursuant to Section 3(a) of this Agreement, and June 30, 2027 with respect to contributions made pursuant to Section 3(b) of this
Agreement. 

  
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 1.18 “Separation from Service” means a termination of the
Executive’s employment with the Employer and its Affiliates for reasons other than death or Disability. A Separation from Service may occur as of a specified date for purposes of the Agreement even if the Executive continues to provide some
services for the Employer or its Affiliates after that date, provided that the facts and circumstances indicate that the Employer and the Executive reasonably anticipated at that date that either no further services would be performed after that
date, or that the level of bona fide services the Executive would perform after such date (whether as an employee or as an independent contractor) would permanently decrease to no more than twenty percent (20%) of the average level of bona fide
services performed over the immediately preceding thirty-six (36) month period (or the full period during which the Executive performed services for the Employer, if that is less than thirty-six (36) months). A Separation from Service will not be deemed to have occurred while the Executive is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does
not exceed six (6) months or, if longer, the period for which a statute or contract provides the Executive with the right to reemployment with the Employer. If the Executive’s leave exceeds six (6) months but the Executive is not
entitled to reemployment under a statute or contract, the Executive incurs a Separation of Service on the next day following the expiration of such six (6) month period. In determining whether a Separation of Service occurs the Administrator
shall take into account, among other things, the definition of “service recipient” and “employer” set forth in Treasury regulation §1.409A-1(h)(3). The Administrator shall have full
and final authority, to determine conclusively whether a Separation from Service occurs, and the date of such Separation from Service. 

1.19 “Specified Employee” means an individual that satisfies the definition of a “key employee” of the Employer
as such term is defined in Code §416(i) (without regard to Code §416(i)(5)), provided that the stock of the Employer is publicly traded on an established securities market or otherwise, as defined in Code
§1.897-1(m). If the Executive is a key employee at any time during the twelve (12) months ending on December 31, the Executive is a Specified Employee for the twelve (12) month period
commencing on the first day of the following April. 
 1.20 “Termination for Good Reason” means Separation from Service
after the occurrence of one or more of the following circumstances without the Executive’s consent: 
 (i) a material
reduction in the Executive’s base compensation; 
 (ii) an involuntary relocation of the Executive’s principal
place of business to a location that is more than 50 miles from the Executive’s workplace as of the date hereof; 

(iii) the assignment of the Executive to any duties which are fundamentally and significantly inconsistent with the
Executive’s duties with the Employer as of the date hereof or a fundamental and substantial reduction of the Executive’s duties or responsibilities; 

provided, however, that prior to any Termination for Good Reason, the Executive must first provide written notice to the Employer within sixty (60) days
of the initial existence of the condition, describing the existence of such condition, and the Employer shall thereafter have the right to remedy the condition within thirty (30) days of the date the Employer received the written notice from
the Executive. If the Employer remedies the condition within such thirty (30) day cure period, then no good reason shall be deemed to exist with respect to such condition. If the Employer does not remedy the condition within such thirty
(30) day cure period, then the Executive may deliver a notice of Termination for Good Reason at any time within sixty (60) days following the expiration of such cure period. 

ARTICLE 2 
 CONTRIBUTIONS

 (a) The Employer has targeted annual Contributions of One Hundred Thousand Dollars ($100,000) on the Executive’s behalf for five
(5) years. The Employer intends to make quarterly Contributions of Twenty Five Thousand Dollars ($25,000) toward this annual total as of the first day of each calendar quarter (except that the first quarterly payment will commence on
August 4, 2017), provided that the Executive is employed on such date and the Employer generated a minimum earnings per share equal to at least sixty percent (60%) of budgeted earnings per share (to be adjusted for any stock dividends or
splits) for the previous publicly reported 12 month period (i.e. 12 months ended March 31, 2017 for the July 1, 2017 contribution). 

  
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 (b) Further, the Employer will make annual Contributions of Two Hundred Thousand Dollars
($200,000) on the Executive’s behalf for five (5) years commencing July 1, 2022. The Employer intends to make quarterly Contributions of Fifty Thousand Dollars ($50,000) toward this annual total as of the first day of each calendar
quarter commencing July 1, 2022, provided that the Executive is employed on such date and the Employer generated a minimum earnings per share equal to at least sixty percent (60%) of budgeted earnings per share (to be adjusted for any stock
dividends or splits) for the previous publicly reported 12 month period (i.e. 12 months ended March 31, 2022 for the July 1, 2022 contribution). 

ARTICLE 3 
 DEFERRAL
ACCOUNT 
 3.1 Establishing and Crediting of Deferral Account. The Employer shall establish a Deferral Account on its books for
the Executive and shall credit to the Deferral Account the following amounts: 
 (a) Any Contributions under Article 2
hereof; and 
 (b) Interest as follows: 

(i) on the last day of each quarter until the earliest of Separation from Service, Disability or the Executive’s death,
interest shall be credited on the Deferral Account balance at an annual rate equal to the Crediting Rate. 
 (ii) on the last
day of each quarter after Separation from Service, Disability or the Executive’s death, interest shall be credited on the Deferral Account balance at an annual rate equal to the Crediting Rate. 

3.2 Recordkeeping Device Only. The Deferral Account is solely a device for measuring amounts to be paid under this Agreement and is not
a trust fund of any kind. 
 ARTICLE 4 

VESTING 
 Executive will
vest in his Deferral Account balance one-third each year over the first three years based on a quarterly vesting of 8.3325% at each quarter end beginning September 30, 2017 until fully vested (i.e. on
September 30, 2017 Executive would be 8.3325% vested in the accumulated account balance (including interest) and on September 30, 2018 Executive would be 33 1/3 percent vested in the accumulated account balance (including interest)).

 ARTICLE 5 
 PAYMENT
OF BENEFITS 
 5.1 Normal Benefit. Upon Separation from Service after Normal Benefit Date, the Employer shall pay the Executive
the Deferral Account balance calculated at Separation from Service. This benefit shall be paid in quarterly installments between 2 years and 10 years, at the selection of the Executive, and shall commence the first day of the immediately subsequent
quarter following Separation from Service. During the payment period, interest shall be credited on the unpaid portion of the Deferral Account balance as described in Section 3.1(b)(ii). The quarterly payments shall be amortized in such a way
so as to produce equal payments over the remaining payment period. This will require quarterly reamortization for changes in the Crediting Rate. 

5.2 Early Voluntary Termination Benefit. If Early Voluntary Termination occurs, the Employer shall pay the Executive the vested portion
of the Deferral Account balance. This benefit shall be paid in quarterly installments between 2 years and 10 years, at the selection of the Executive, and shall commence the first day of the immediately subsequent quarter following Separation from
Service. During the payment period, interest shall be credited on the unpaid portion of the Deferral Account balance as described in Section 3.1(b)(ii). The quarterly payments shall be amortized in such a way so as to produce equal payments
over the remaining payment period. This will require quarterly reamortization for changes in the Crediting Rate. 

  
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 5.3 Early Involuntary Termination Benefit. If Early Involuntary Termination occurs,
the Employer shall pay the Executive the Deferral Account balance at Separation from Service, plus an additional amount equal to the Contributions remaining to be made in accordance with Article 2. This benefit shall be paid in quarterly
installments between 2 years and 10 years, at the selection of the Executive, and shall commence the first day of the immediately subsequent quarter following Separation from Service. During the payment period, interest shall be credited on the
unpaid portion of the benefit as described in Section 3.1(b)(ii). The quarterly payments shall be amortized in such a way so as to produce equal payments over the remaining payment period. This will require quarterly reamortization for
changes in the Crediting Rate. 
 5.4 Disability Benefit. If the Executive experiences a Disability prior to Separation from
Service and Normal Benefit Date, the Employer shall pay the Executive the Deferral Account balance at Disability, plus an additional amount equal to the Contributions remaining to be made in accordance with Article 2. This benefit shall be paid in
quarterly installments between 2 years and 10 years, at the selection of the Executive, and shall commence the first day of the immediately subsequent quarter following Disability. During the payment period, interest shall be credited on the unpaid
portion of the benefit as described in Section 3.1(b)(ii). The quarterly payments shall be amortized in such a way so as to produce equal payments over the remaining payment period. This will require quarterly reamortization for changes in
the Crediting Rate. 
 5.5 Change in Control Benefit. If a Change in Control occurs, followed within twenty-four (24) months by a
Separation from Service prior to Normal Benefit Date, the Employer shall pay the Executive the Deferral Account balance at Separation from Service, plus an additional amount equal to the Contributions remaining to be made in accordance with Article
2 provided, however, that no earnings per share requirement shall apply. This benefit shall be paid in a lump sum or in quarterly installments up to 10 years, at the selection of the Executive, and shall commence the first day of the immediately
subsequent quarter following Separation from Service. During the payment period, interest shall be credited on the unpaid portion of the benefit as described in Section 3.1(b)(ii). The quarterly payments shall be amortized in such a way so as
to produce equal payments over the remaining payment period. This will require quarterly reamortization for changes in the Crediting Rate. 

5.6 Death Prior to Separation from Service and Disability. In the event the Executive dies prior to Separation from Service and
Disability, the Employer shall pay the Beneficiary the Deferral Account balance as of the date of the Executive’s death, plus an additional amount equal to the Contributions remaining to be made in accordance with Article 2. This benefit shall
be paid in a lump sum or in quarterly installments up to 10 years, at the selection of the Executive, and shall commence the first day of the immediately subsequent quarter following the Executive’s death. During the payment period, interest
shall be credited on the unpaid portion of the benefit as described in Section 3.1(b)(ii). The quarterly payments shall be amortized in such a way so as to produce equal payments over the remaining payment period. This will require
quarterly reamortization for changes in the Crediting Rate. 
 5.7 One Benefit Only. The Executive and Beneficiary are entitled to a
benefit under only one of Sections 5.1 through 5.6 of this Agreement, which shall be determined by the first event to occur that causes a benefit to be paid under this Agreement. The subsequent occurrence of other events shall not entitle the
Executive or Beneficiary to other or additional benefits hereunder. 
 5.8 Death Subsequent to Commencement of Benefit Payments. In
the event the Executive dies while receiving payments, but prior to receiving all payments due and owing hereunder, the Employer shall pay the Beneficiary the same amounts at the same times as the Employer would have paid the Executive, had the
Executive survived. 
 5.9 Termination for Cause. If the Employer terminates the Executive’s employment for Cause or if the
Executive takes any of the actions described in Section 10.10(i), (ii), (iii), (iv) or (v), then the Executive shall forfeit all unpaid benefits hereunder. 

5.10 Restriction on Commencement of Distributions. Notwithstanding any provision of this Agreement to the contrary, if the
Executive is considered a Specified Employee at the time of Separation from Service, the provisions of this Section shall govern all distributions hereunder. Distributions which would otherwise be made to the Executive due to Separation from Service
shall not be made during the first six (6) months following Separation from Service. Rather, any distribution which would otherwise be paid to the Executive during such period shall be accumulated and paid to the Executive in a lump sum on the
first day of the seventh month following Separation from Service, or if earlier, upon the Executive’s death. All subsequent distributions shall be paid as they would have had this Section not applied. 

  
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 5.11 Acceleration of Payments. Except as specifically permitted herein, no
acceleration of the time or schedule of any payment may be made hereunder. Notwithstanding the foregoing, payments may be accelerated, in accordance with the provisions of Treasury Regulation
§1.409A-3(j)(4) in the following circumstances: (i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements with the federal government; (iii) in
compliance with the ethics laws or conflicts of interest laws; (iv) in limited cashouts (but not in excess of the limit under Code §402(g)(1)(B)); (v) to pay employment-related taxes; or (vi) to pay any taxes that may become due at
any time that the Agreement fails to meet the requirements of Code Section 409A. 
 5.12 Delays in Payment by Employer. A payment
may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not
constitute a subsequent deferral election, so long as the Employer treats all payments to similarly situated Participants on a reasonably consistent basis. 

(a) Payments subject to Code Section 162(m). If the Employer reasonably anticipates that the
Employer’s deduction with respect to any distribution under this Agreement would be limited or eliminated by application of Code Section 162(m), then to the extent deemed necessary by the Employer to ensure that the entire amount of any
distribution from this Agreement is deductible, the Employer may delay payment of any amount that would otherwise be distributed under this Agreement. The delayed amounts shall be distributed to the Executive (or the Beneficiary in the event of the
Executive’s death) at the earliest date the Employer reasonably anticipates that the deduction of the payment of the amount will not be limited or eliminated by application of Code Section 162(m). 

(b) Payments that would violate Federal securities laws or other applicable law. A payment may be delayed where the
Employer reasonably anticipates that the making of the payment will violate Federal securities laws or other applicable law provided that the payment is made at the earliest date at which the Employer reasonably anticipates that the making of the
payment will not cause such violation. The making of a payment that would cause inclusion in gross income or the application of any penalty provision of the Internal Revenue Code is not treated as a violation of law. 

(c) Solvency. Notwithstanding the above, a payment may be delayed where the payment would jeopardize the ability of the
Employer to continue as a going concern. 
 5.13 Treatment of Payment as Made on Designated Payment Date. Solely for purposes of
determining compliance with Code Section 409A, any payment under this Agreement made after the required payment date shall be deemed made on the required payment date provided that such payment is made by the latest of: (i) the end of the
calendar year in which the payment is due; (ii) the 15th day of the third calendar month following the payment due date; (iii) if Employer cannot calculate the payment amount on
account of administrative impracticality which is beyond the Executive’s control, the end of the first calendar year which payment calculation is practicable; and (iv) if Employer does not have sufficient funds to make the payment without
jeopardizing the Employer’s solvency, in the first calendar year in which the Employer’s funds are sufficient to make the payment. 

5.14 Facility of Payment. If a distribution is to be made to a minor, or to a person who is otherwise incompetent, then the
Administrator may make such distribution: (i) to the legal guardian, or if none, to a parent of a minor payee with whom the payee maintains his or her residence; or (ii) to the conservator or administrator or, if none, to the person having
custody of an incompetent payee. Any such distribution shall fully discharge the Employer and the Administrator from further liability on account thereof. 

5.15 Changes in Form or Timing of Benefit Payments. The Employer and the Executive may, subject to the terms hereof, amend this
Agreement to delay the timing or change the form of payments. Any such amendment: 
 (a) must take effect not less than
twelve (12) months after the amendment is made; 

  
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 (b) must, for benefits distributable due solely to the arrival of a
specified date, or on account of Separation from Service or Change in Control, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; 

(c) must, for benefits distributable due solely to the arrival of a specified date, be made not less than twelve
(12) months before distribution is scheduled to begin; and 
 (d) may not accelerate the time or schedule of any
distribution. 
 ARTICLE 6 

BENEFICIARIES 
 6.1
Designation of Beneficiaries. The Executive may designate any person to receive any benefits payable under the Agreement upon the Executive’s death, and the designation may be changed from time to time by the Executive by filing a new
designation. Each designation will revoke all prior designations by the Executive, shall be in the form prescribed by the Administrator and shall be effective only when filed in writing with the Administrator during the Executive’s lifetime. If
the Executive names someone other than the Executive’s spouse as a Beneficiary, the Administrator may, in its sole discretion, determine that spousal consent is required to be provided in a form designated by the Administrator, executed by the
Executive’s spouse and returned to the Administrator. The Executive’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the
marriage is subsequently dissolved. 
 6.2 Absence of Beneficiary Designation. In the absence of a valid Beneficiary designation, or
if, at the time any benefit payment is due to a Beneficiary, there is no living Beneficiary validly named by the Executive, the Employer shall pay the benefit payment to the Executive’s spouse. If the spouse is not living then the Employer
shall pay the benefit payment to the Executive’s living descendants per stirpes, and if there are no living descendants, to the Executive’s estate. In determining the existence or identity of anyone entitled to a benefit
payment, the Employer may rely conclusively upon information supplied by the Executive’s personal representative, executor, or administrator. 

ARTICLE 7 

ADMINISTRATION 
 7.1
Administrator Duties. The Administrator shall be responsible for the management, operation, and administration of the Agreement. When making a determination or calculation, the Administrator shall be entitled to rely on information furnished
by the Employer, Executive or Beneficiary. No provision of this Agreement shall be construed as imposing on the Administrator any fiduciary duty under ERISA or other law, or any duty similar to any fiduciary duty under ERISA or other law. 

7.2 Administrator Authority. The Administrator shall enforce this Agreement in accordance with its terms, shall be charged with the
general administration of this Agreement, and shall have all powers necessary to accomplish its purposes. 
 7.3 Binding Effect of
Decision. The decision or action of the Administrator with respect to any question arising out of or in connection with the administration, interpretation or application of this Agreement and the rules and regulations promulgated hereunder shall
be final, conclusive and binding upon all persons having any interest in this Agreement. 
 7.4 Compensation, Expenses and Indemnity.
The Administrator shall serve without compensation for services rendered hereunder. The Administrator is authorized at the expense of the Employer to employ such legal counsel and recordkeeper as it may deem advisable to assist in the performance of
its duties hereunder. Expense and fees in connection with the administration of this Agreement shall be paid by the Employer. 
 7.5
Employer Information. The Employer shall supply full and timely information to the Administrator on all matters relating to the Executive’s compensation, death, Disability or Separation from Service, and such other information as the
Administrator reasonably requires. 

  
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 7.6 Termination of Participation. If the Administrator determines in good faith that
the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to prohibit any further crediting
to the Deferral Account. 
 7.7 Compliance with Code Section 409A. The Employer and the Executive intend that the
Agreement comply with the provisions of Code Section 409A to prevent the inclusion in gross income of any amounts deferred hereunder in a taxable year prior to the year in which amounts are actually paid to the Executive or Beneficiary. This
Agreement shall be construed, administered and governed in a manner that affects such intent, and the Administrator shall not take any action that would be inconsistent therewith. 

ARTICLE 8 
 CLAIMS
AND REVIEW PROCEDURES 
 8.1 Claims Procedure. A Claimant who has not received benefits under this Agreement that he or she
believes should be distributed shall make a claim for such benefits as follows. 
 (a) Initiation – Written
Claim. The Claimant initiates a claim by submitting to the Administrator a written claim for the benefits. If such a claim relates to the contents of a notice received by the Claimant, the claim must be made within sixty (60) days after
such notice was received by the Claimant. All other claims must be made within one hundred eighty (180) days of the date on which the event that caused the claim to arise occurred. The claim must state with particularity the determination
desired by the Claimant. 
 (b) Timing of Administrator Response. The Administrator shall respond to such
Claimant within ninety (90) days after receiving the claim. If the Administrator determines that special circumstances require additional time for processing the claim, the Administrator can extend the response period by an additional ninety
(90) days by notifying the Claimant in writing, prior to the end of the initial ninety (90) day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the
Administrator expects to render its decision. 
 (c) Notice of Decision. If the Administrator denies part or all of
the claim, the Administrator shall notify the Claimant in writing of such denial. The Administrator shall write the notification in a manner calculated to be understood by the Claimant. The notification shall set forth: (i) the specific reasons
for the denial; (ii) a reference to the specific provisions of this Agreement on which the denial is based; (iii) a description of any additional information or material necessary for the Claimant to perfect the claim and an explanation of
why it is needed; (iv) an explanation of this Agreement’s review procedures and the time limits applicable to such procedures; and (v) a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a)
following an adverse benefit determination on review. 
 8.2 Review Procedure. If the Administrator denies part or all of the claim,
the Claimant shall have the opportunity for a full and fair review by the Administrator of the denial as follows. 
 (a)
Initiation – Written Request. To initiate the review, the Claimant, within sixty (60) days after receiving the Administrator’s notice of denial, must file with the Administrator a written request for review. 

(b) Additional Submissions – Information Access. The Claimant shall then have the opportunity to submit written
comments, documents, records and other information relating to the claim. The Administrator shall also provide the Claimant, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant
(as defined in applicable ERISA regulations) to the Claimant’s claim for benefits. 
 (c) Considerations on
Review. In considering the review, the Administrator shall take into account all materials and information the Claimant submits relating to the claim, without regard to whether such information was submitted or considered in the initial benefit
determination. 

  
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 (d) Timing of Administrator Response. The Administrator shall respond
in writing to such Claimant within sixty (60) days after receiving the request for review. If the Administrator determines that special circumstances require additional time for processing the claim, the Administrator can extend the response
period by an additional sixty (60) days by notifying the Claimant in writing, prior to the end of the initial sixty (60) day period, that an additional period is required. The notice of extension must set forth the special circumstances
and the date by which the Administrator expects to render its decision. 
 (e) Notice of Decision. The Administrator
shall notify the Claimant in writing of its decision on review. The Administrator shall write the notification in a manner calculated to be understood by the Claimant. The notification shall set forth: (a) the specific reasons for the denial;
(b) a reference to the specific provisions of this Agreement on which the denial is based; (c) a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents,
records and other information relevant (as defined in applicable ERISA regulations) to the Claimant’s claim for benefits; and (d) a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a). 

ARTICLE 9 
 AMENDMENT AND
TERMINATION 
 9.1 Agreement Amendment Generally. Except as provided in Section 9.2, this Agreement may be amended only by a
written agreement signed by both the Employer and the Executive. 
 9.2 Amendment to Insure Proper Characterization of Agreement.
Notwithstanding anything in this Agreement to the contrary, the Agreement may be amended by the Employer at any time, if found necessary in the opinion of the Employer, i) to ensure that the Agreement is characterized as plan of deferred
compensation maintained for a select group of management or highly compensated employees as described under ERISA, ii) to conform the Agreement to the requirements of any applicable law, or iii) to comply with the written instructions of the
Employer’s auditors or banking regulators. 
 9.3 Agreement Termination Generally. Except as provided in Section 9.4, this
Agreement may be terminated only by a written agreement signed by the Employer and the Executive. Such termination shall not cause a distribution of benefits under this Agreement. Rather, upon such termination benefit distributions will be made at
the earliest distribution event permitted under Article 5. 
 9.4 Effect of Complete Termination. Notwithstanding anything to the
contrary in Section 9.3, and subject to the requirements of Code Section 409A and Treasury Regulations §1.409A-3(j)(4)(ix), the Employer may completely terminate and liquidate the Agreement in
accordance with subsections (a), (b) or (c) below. In the event of such a complete termination in accordance with subsection (a), the Employer shall pay the Executive the Deferral Account balance. In the event of such a complete termination in
accordance with subsection (b) or (c), the Employer shall pay the Executive the Deferral Account balance, plus an additional amount equal to the Contributions remaining to be made in accordance with Article 2 provided, however, that no earnings
per share requirement shall apply. In any event, such complete termination of the Agreement shall occur only under the following circumstances and conditions. 

(a) Corporate Dissolution or Bankruptcy. The Employer may terminate and liquidate this Agreement within twelve
(12) months of a corporate dissolution taxed under Code Section 331, or with the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that all benefits paid under the Agreement are included in the
Executive’s gross income in the latest of: (i) the calendar year which the termination occurs; (ii) the calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or (iii) the first calendar year
in which the payment is administratively practicable. 
 (b) Change in Control. The Employer may terminate and
liquidate this Agreement by taking irrevocable action to terminate and liquidate within the thirty (30) days preceding or the twelve (12) months following a Change in Control. This Agreement will then be treated as terminated only if all
substantially similar arrangements sponsored by the Employer which are treated as deferred under a single plan under Treasury Regulations §1.409A-1(c)(2) are terminated and liquidated with respect to each
participant who experienced the Change in Control so that the Executive and any participants in any such similar arrangements are required to receive all amounts of compensation deferred under the terminated arrangements within twelve
(12) months of the date the Employer takes the irrevocable action to terminate the arrangements. 

  
 9 

 (c) Discretionary Termination. The Employer may terminate and
liquidate this Agreement provided that: (i) the termination does not occur proximate to a downturn in the financial health of the Employer; (ii) all arrangements sponsored by the Employer and Affiliates that would be aggregated with any
terminated arrangements under Treasury Regulations §1.409A-1(c) are terminated; (iii) no payments, other than payments that would be payable under the terms of this Agreement if the termination had
not occurred, are made within twelve (12) months of the date the Employer takes the irrevocable action to terminate this Agreement; (iv) all payments are made within twenty-four (24) months following the date the Employer takes the
irrevocable action to terminate and liquidate this Agreement; and (v) neither the Employer nor any of its Affiliates adopt a new arrangement that would be aggregated with any terminated arrangement under Treasury Regulations §1.409A-1(c) if the Executive participated in both arrangements, at any time within three (3) years following the date the Employer takes the irrevocable action to terminate this Agreement. 

ARTICLE 10 

MISCELLANEOUS 
 10.1 No
Effect on Other Rights. This Agreement constitutes the entire agreement between the Employer and the Executive as to the subject matter hereof. No rights are granted to the Executive by virtue of this Agreement other than those specifically set
forth herein. Nothing contained herein will confer upon the Executive the right to be retained in the service of the Employer nor limit the right of the Employer to discharge or otherwise deal with the Executive without regard to the existence
hereof. 
 10.2 State Law. This Agreement and all rights hereunder shall be governed by and construed according to the laws of the
State of New Jersey except to the extent preempted by the laws of the United States of America. 
 10.3 Validity. In case any
provision of this Agreement shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Agreement shall be construed and enforced as if such illegal or invalid provision had never
been inserted herein. 
 10.4 Nonassignability. Benefits under this Agreement cannot be sold, transferred, assigned, pledged, attached
or encumbered in any manner. 
 10.5 Unsecured General Creditor Status. Payment to the Executive or any Beneficiary hereunder shall be
made from assets which shall continue, for all purposes, to be part of the general, unrestricted assets of the Employer and no person shall have any interest in any such asset by virtue of any provision of this Agreement. The Employer’s
obligation hereunder shall be an unfunded and unsecured promise to pay money in the future. In the event that the Employer purchases an insurance policy insuring the life of the Executive to recover the cost of providing benefits hereunder, neither
the Executive nor the Beneficiary shall have any rights whatsoever in said policy or the proceeds therefrom. 
 10.6 Life Insurance.
If the Employer chooses to obtain insurance on the life of the Executive in connection with its obligations under this Agreement, the Executive hereby agrees to take such physical examinations and to truthfully and completely supply such information
as may be required by the Employer or the insurance company designated by the Employer. 
 10.7 Unclaimed Benefits. The Executive
shall keep the Employer informed of the Executive’s current address and the current address of the Beneficiary. If the location of the Executive is not made known to the Employer within three years after the date upon which any payment of any
benefits may first be made, the Employer shall delay payment of the Executive’s benefit payment(s) until the location of the Executive is made known to the Employer; however, the Employer shall only be obligated to hold such benefit payment(s)
for the Executive until the expiration of three (3) years. Upon expiration of the three (3) year period, the Employer may discharge its obligation by payment to the Beneficiary. If the location of the Beneficiary is not made known to the
Employer by the end of an additional two (2) month period following expiration of the three (3) year period, the Employer may discharge its obligation by payment to the Executive’s estate. If there is no estate in existence at such
time or if such fact cannot be determined by the Employer, the Executive and Beneficiary shall thereupon forfeit all rights to any benefits provided under this Agreement. 

  
 10 

 10.8 Suicide or Misstatement. The Executive shall forfeit any non-distributed amounts in the Deferral Account if the Executive commits suicide within two (2) years after the Effective Date, or if an insurance company which issued a life insurance policy covering the
Executive and owned by the Employer denies coverage (i) for material misstatements of fact made by the Executive on an application for life insurance, or (ii) for any other reason. 

10.9 Regulatory Restrictions. 

a) Removal. If the Executive is removed from office or permanently prohibited from participating in the Employer’s
affairs by an order issued under section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. 1818(e)(4) or (g)(1), the Executive shall forfeit any non-distributed amounts in the Deferral Account.

 b) Default. If the Employer is in “default” or “in danger of default” as those terms are
defined in section 3(x) of the Federal Deposit Insurance Act, 12 U.S.C. 1813(x) the Executive shall forfeit any non-distributed amounts in the Deferral Account. 

c) FDIC Open-Bank Assistance. If the Federal Deposit Insurance Corporation enters into an agreement to provide
assistance to or on behalf of the Employer under the authority contained in Federal Deposit Insurance Act section 13(c), 12 U.S.C. 1823(c) the Executive shall forfeit any non-distributed amounts in the
Deferral Account. 
 10.10 Forfeiture Provision. The Executive shall forfeit any unpaid benefit hereunder, if the Executive, directly
or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of
three percent (3%) or less in the stock of a publicly-traded company): 
 (i) becomes employed by, participates in, or
becomes connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the Executive’s responsibilities will include providing banking or other financial
services within fifty (50) miles of the Employer’s main office location; 
 (ii) participates in any way in hiring
or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary, part-time or permanent basis, any individual who was employed by the Employer as of the date of termination of the Executive’s
employment; 
 (iii) assists, advises, or serves in any capacity, representative or otherwise, any third party in any action
against the Employer or transaction involving the Employer; 
 (iv) sells, offers to sell, provides banking or other
financial services, assists any other person in selling or providing banking or other financial services, or solicits or otherwise competes for, either directly or indirectly, any orders, contract, or accounts for services of a kind or nature like
or substantially similar to the financial services performed or financial products sold by the Employer (the preceding hereinafter referred to as “Services”), to or from any person or entity from whom the Executive or the Employer, to the
knowledge of the Executive provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three (3) year period immediately prior to the termination of the Executive’s
employment; 
 (v) divulges, discloses, or communicates to others in any manner whatsoever, any confidential information of
the Employer, to the knowledge of the Executive, including, but not limited to, the names and addresses of customers or prospective customers, of the Employer, as they may have existed from time to time, of work performed or services rendered for
any customer, any method and/or procedures relating to projects or other work developed for the Employer, earnings or other information concerning the Employer. The restrictions contained in this subparagraph (v) apply to all information
regarding the Employer, regardless of the source who provided or compiled such information. Notwithstanding anything to the contrary, all information referred to herein shall not be disclosed unless and until it becomes known to the general public
from sources other than the Executive. 

  
 11 

 The forfeiture provision detailed in this Section 10.10 shall not apply following a Change in Control
or following Early Involuntary Termination. 
 10.11 Notice. Any notice, consent or demand required or permitted to be given to the
Employer or Administrator under this Agreement shall be sufficient if in writing and hand-delivered or sent by registered or certified mail to the Employer’s principal business office. Any notice or filing required or permitted to be given to
the Executive or Beneficiary under this Agreement shall be sufficient if in writing and hand-delivered or sent by mail to the last known address of the Executive or Beneficiary, as appropriate. Any notice shall be deemed given as of the date of
delivery or, if delivery is made by mail, as of the date shown on the postmark or on the receipt for registration or certification. 
 10.12
Headings and Interpretation. Headings and sub-headings in this Agreement are inserted for reference and convenience only and shall not be deemed part of this Agreement. Wherever the fulfillment of the
intent and purpose of this Agreement requires and the context will permit, the use of the masculine gender includes the feminine and use of the singular includes the plural. 

10.13 Alternative Action. In the event it becomes impossible for the Employer or the Administrator to perform any act required by
this Agreement due to regulatory or other constraints, the Employer or Administrator may perform such alternative act as most nearly carries out the intent and purpose of this Agreement and is in the best interests of the Employer, provided that
such alternative act does not violate Code Section 409A. 
 10.14 Coordination with Other Benefits. The benefits provided for the
Executive or the Beneficiary under this Agreement are in addition to any other benefits available to the Executive under any other plan or program for employees of the Employer. This Agreement shall supplement and shall not supersede, modify, or
amend any other such plan or program except as may otherwise be expressly provided herein. 
 10.15 Inurement. This Agreement shall be
binding upon and shall inure to the benefit of the Employer, its successor and assigns, and the Executive, the Executive’s successors, heirs, executors, administrators, and the Beneficiary. 

10.16 Tax Withholding. The Employer may make such provisions and take such action as it deems necessary or appropriate for the
withholding of any taxes which the Employer is required by any law or regulation to withhold in connection with any benefits under the Agreement. The Executive shall be responsible for the payment of all individual tax liabilities relating to any
benefits paid hereunder. 
 10.17 Aggregation of Agreement. If the Employer offers other
non-qualified deferred compensation plans in addition to this Agreement, this Agreement and those plans shall be treated as a single plan to the extent required under Code Section 409A. 

IN WITNESS WHEREOF, the Executive and a representative of the Employer have executed this Agreement document as indicated below: 

 

							
	Executive:	  	                    	  		  	Employer:
				
	 /s/ Jeffrey J. Carfora March 24, 2022
	  		  	By: 	  	 /s/ Douglas Kennedy March 24, 2022

		  		  	Its:	  	President and Chief Executive Officer

  
 12 

 DEFERRED COMPENSATION AGREEMENT 

Distribution Election Form 

Form and Timing of Distributions 
  

			
	 Benefit
	  	 Distribution of Benefit

(Indicate number of years between 2 and 10)

		
	§ 5.1 - Normal Benefit	  	Quarterly installments for _____ years
		
	 § 5.2 - Early Voluntary Termination Benefit *
  

§ 5.3 - Early Involuntary Termination Benefit*
	  	Quarterly installments for _____ years
		
	§ 5.4 - Disability Benefit	  	Quarterly installments for _____ years
		
	§ 5.5 - Change in Control Benefit	  	 _____ Lump sum
 or

_____ Quarterly installments for _____ years
 (Initial either
lump sum or installments.)

		
	§ 5.6 - Death Benefit	  	 _____ Lump Sum
 or

_____ Quarterly installments for _____ years
 (Initial either lump
sum or installments.)

  

	*	 Per 409A, the form and timing for these two triggering events must be the same. 

 

	
	Name:
	
	Signature:                                    
                                         

	
	Date:                                     
                                         
         

 Received by the Administrator this _____ day of ____________________, 20___ 

 

	
	By:                                     
                                         
            
	
	Title:                                     
                                         
         

  
 13 

 DEFERRED COMPENSATION AGREEMENT 

Beneficiary Designation 

I, Jeffrey J. Carfora, designate the following as Beneficiary under this Agreement: 

 

					
	 Primary
	  			
		  	 	        	% 
		  	  
	  
	 
		  	 	        	% 
		  	  
	  
	 
	 Contingent
	  			
		  	 	        	% 
		  	  
	  
	 
		  	 	        	% 
		  	  
	  
	 

 I understand that I may change this beneficiary designation by delivering a new written designation to the
Administrator, which shall be effective only upon receipt by the Administrator prior to my death. I further understand that the designation will be automatically revoked if the Beneficiary predeceases me or if I have named my spouse as Beneficiary
and our marriage is subsequently dissolved. 
 Signature: __________________________ Date: _______ 

SPOUSAL CONSENT (Required only if Administrator requests and someone other than spouse is named Beneficiary) 

I consent to the beneficiary designation above. I also acknowledge that if I am named Beneficiary and my marriage is subsequently dissolved, the beneficiary
designation will be automatically revoked. 
 Spouse Name: ___________________________________ 

Signature: __________________________ Date: _______ 
 Received
by the Administrator this ________ day of ___________________, 20__ 
  

	
	By:                                     
                                         
            
	
	Title:                                     
                                         
         

  
 14Exhibit 4.5

     

    

    DESCRIPTION OF SECURITIES

    

    

    The following description of Blue Ocean Acquisition Corp’s (the “Company,” “we” or “us”) securities is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to the
      Company’s amended and restated memorandum and articles of association, which is incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this exhibit is a part. We encourage you to read the amended and restated memorandum
      and articles of association and the applicable provisions of the Companies Act (2021 Revision) of the Cayman Islands (the “Companies Act”), for additional information.

    

    

    General

    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, we are authorized to issue 221,000,000 shares, $0.0001 par value each, including 200,000,000 Class A ordinary shares and 20,000,000 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 consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles its holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to
      adjustment. 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.
      Holders will need to have their brokers contact our transfer agent in order to separate the units into Class A ordinary shares and warrants. Additionally, the units will automatically separate into their component parts and will not be traded after
      completion of our initial business combination.

    

    

    Ordinary Shares

    As of March 25, 2022, there were 23,718,750 ordinary shares outstanding, including:

    

    

    	

          	•	
            18,975,000 Class A ordinary shares underlying units issued as part of our initial public offering (the “IPO”); and

          

    	

          	•	
            4,743,750 Class B ordinary shares held by our initial shareholders

          

    

    

    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 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, 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, 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 generally serves for a term of three years with only one class of directors being appointed 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 appoint all of the directors. However, only holders of Class B ordinary shares have the
      right to appoint directors prior to or in connection with the completion of our initial business combination, meaning that holders of Class A ordinary shares do not have the right to appoint any directors until after the completion of our initial
      business combination. 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 relating to the rights of holders of Class B ordinary shares to appoint or remove directors prior to our initial business combination may only be amended by a special resolution passed by a majority of at least
      90% of our ordinary shares voting in a general meeting. Our shareholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor.

    

    

    Because our amended and restated memorandum and articles of association authorize the issuance of up to 200,000,000 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 are 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 appointed in each year and each class (except for those directors appointed prior to our first annual general meeting) serving
      a three-year term. In accordance with Nasdaq corporate governance requirements, we are not required to hold an annual general meeting until one year after our first fiscal year end following our listing on Nasdaq. There is no requirement under the
      Companies Act for us to hold annual or extraordinary general meetings to appoint directors. We may not hold an annual general meeting to appoint 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.

    

    

    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 (net of taxes paid or payable), divided by the number of then issued and
      outstanding public shares, subject to the limitations described herein. The amount in the trust account is initially anticipated to be $10.20 per public share. The per share amount we will distribute to investors who properly redeem their shares will
      not be reduced by the deferred underwriting commissions we will pay to the underwriter. Our initial shareholders have entered into agreements with us, pursuant to which they have agreed to waive their redemption rights with respect to their founder
      shares and public shares in connection with the completion of our initial business combination. The other members of our management team have entered into agreements similar to the one entered into by our sponsor with respect to any public shares
      acquired by them in or after our IPO.

    

    

    
      
        

    

    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 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 will require these tender offer documents to contain substantially the same financial and other information about the initial business combination and the
      redemption rights as is required under the SEC’s proxy rules. If, however, a shareholder approval of the transaction is required by applicable law or stock exchange listing requirements, or we decide to obtain shareholder approval for business or
      other reasons, we will, like many blank check companies, offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek shareholder approval, we will complete our
      initial business combination only if we receive 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 (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 an ordinary resolution, non-votes and abstentions 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 redeeming its shares with respect to Excess Shares, without our prior consent.

      

      

      However, we would not be restricting our shareholders’ ability to vote all of their shares (including Excess Shares) for or against our initial business combination. Our shareholders’ inability to 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 in connection with our initial business combination, our initial shareholders and Apollo have agreed to vote their founder shares and, with the exception of Apollo and certain advisors
        to the Company party thereto, any public shares purchased during or after the IPO in favor of our initial business combination. As a result, in addition to our initial shareholders’ and Apollo’s founder shares, we would need 6,940,626, or 36.58% of
        the 18,975,000 public shares sold in our IPO to be voted in favor of a transaction, in order to have such initial business combination approved. The other members of our management team have entered into agreements similar to the one entered into
        by our sponsor with respect to any public shares acquired by them in or after the IPO. Additionally, each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction or vote
        at all.

      

      

      Pursuant to our amended and restated memorandum and articles of association, if we do not complete our initial business combination before June 7, 2023 (or September 7, 2023 if the period of time to consummate a
        business combination is extended), we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than 10 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 (less up to $100,000 of interest to pay dissolution expenses and net of taxes paid or payable), divided by the number of then outstanding public shares,
        which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) promptly as reasonably possible following such redemption, subject to the
        approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case, to our obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of
        applicable law. Our initial shareholders and Apollo have entered into agreements with us, pursuant to which they have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares if we fail
        to complete our initial business combination before June 7, 2023 (or September 7, 2023 if the period of time to consummate a business combination is extended). However, our initial shareholders and management team who acquired public shares in or
        after our IPO will be entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete our initial business combination within the prescribed time period. Our amended and restated memorandum and
        articles of association 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 10 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 Class A ordinary shares for cash at a per share price equal to the aggregate amount then on deposit in the trust account, including
        interest (less up to $100,000 of interest to pay dissolution expenses and net of taxes paid or payable), divided by the number of then issued and 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, and holders of founder shares have the same shareholder
      rights as public shareholders, except that (i) prior to our initial business combination, only holders of our Class B ordinary shares have the right to vote on the appointment of directors, including in connection with the completion of our initial
      business combination and holders of a majority of our Class B ordinary shares may remove a member of the board of directors for any reason; (ii) the founder shares are subject to certain transfer restrictions contained in a letter agreement that our
      initial shareholders, directors, officers and Apollo have entered into with us, as described in more detail below; (iii) pursuant to such letter agreement, our initial shareholders, directors, officers and Apollo have agreed to (A) waive their
      redemption rights with respect to their founder shares and, with the exception of Apollo and certain advisors to the Company party thereto, public shares held by them, as applicable, in connection with the completion of our initial business
      combination, (B) waive their redemption rights with respect to their founder shares and, with the exception of Apollo and certain advisors to the Company party thereto, public shares held by them, as applicable, in connection with a shareholder vote
      to approve an amendment to our amended and restated memorandum and articles of association (1) that would affect the substance or timing of our obligation to provide for the redemption of our public shares in connection with an initial business
      combination or to redeem 100% of our public shares if we have not consummated an initial business combination before June 7, 2023 (or September 7, 2023 if the period of time to consummate a business combination is extended) or (2) with respect to any
      other provision relating to shareholders’ rights or pre-initial business combination activity and (C) waive their rights to liquidating distributions from the trust account with respect to their founder shares if we fail to complete our initial
      business combination before June 7, 2023 (or September 7, 2023 if the period of time to consummate a business combination is extended) (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); (iv) the founder shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of
      our initial business combination, or earlier at the option of the holder thereof, as described below; and (v) the founder shares are entitled to registration rights. If we submit our initial business combination to our public shareholders for a vote,
      our initial shareholders, directors, officers and Apollo have agreed to vote their founder shares and, with the exception of Apollo and certain advisors to the Company party, any public shares purchased during or after our IPO in favor of our initial
      business combination. The other members of our management team have entered into agreements similar to the one entered into by our sponsor and Apollo with respect to any public shares acquired by them in or after our IPO. The founder shares will
      automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination, or earlier at the option of the holder thereof, on a one-for-one basis. However, if additional Class A
      ordinary shares or any other equity-linked securities are issued or deemed issued in excess of the amounts issued in our IPO and related to the closing of our initial business combination, 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 outstanding 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, or to be issued, to any seller in the initial business combination and any private placement warrants issued to our sponsor or Apollo upon conversion of
      working capital loans, provided that such conversion of Class B ordinary shares will never occur on a less than one-for-one basis.

    

    

    
      
        

    

    Our initial shareholders and Apollo have agreed not to transfer, assign or sell any of their founder shares until the earlier to occur of: (i) one year after the completion of our initial business combination; and (ii)
      subsequent to our initial business combination (x) the date on which we complete a liquidation, merger, share exchange or other similar transaction that results in all of our shareholders having the right to exchange their Class A ordinary shares for
      cash, securities or other property or (y) 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. Any permitted transferees will be subject to the same restrictions and other agreements of our initial
      shareholders 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 a majority of at least 90% of our ordinary shares voting in a general meeting. 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.

    

    

    Register of Members

    

    

    Under Cayman Islands law, we must keep a register of members and there will be entered therein:

    

    

    	

          	•	
            the names and addresses of the members, a statement of the shares held by each member, and of the amount paid or agreed to be considered as paid, on the shares of each member and the voting rights of shares;

          

    	

          	•	
            the date on which the name of any person was entered on the register as a member; and

          

    	

          	•	
            the date on which any person ceased to be a member.

          

    

    

    Under Cayman Islands law, the register of members of our company is prima facie evidence of the matters set out therein (i.e., the register of members will raise a presumption of fact on the matters referred to above
      unless rebutted) and a member registered in the register of members will be deemed as a matter of Cayman Islands law to have legal title to the shares as set against its name in the register of members. However, there are certain limited
      circumstances where an application may be made to a Cayman Islands court for a determination on whether the register of members reflects the correct legal position. Further, the Cayman Islands court has the power to order that the register of members
      maintained by a company should be rectified where it considers that the register of members does not reflect the correct legal position. If an application for an order for rectification of the register of members were made in respect of our ordinary
      shares, then the validity of such shares may be subject to re-examination by a Cayman Islands court.

    

    

    
      
        

    

    Preference Shares

    Our amended and restated memorandum and articles of association 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
      will be 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 will be 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
      antitakeover 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 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.

    

    

    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 IPO 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
      purchased a multiple of two units, the number of warrants issuable to you upon separation of the units will be rounded down to the nearest whole number of warrants. 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 will not be 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 not registered the Class A ordinary shares issuable upon exercise of the warrants. However, 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 will use 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
      will use our commercially reasonable efforts to cause the registration statement 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 reasonable 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 business 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 reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. In
      such event, 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. 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.

     

    

    
      
        

    

    
      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 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. As a result, we may redeem warrants even if the holders are otherwise unable to exercise their warrants.

      

      

      We have established the $18.00 (as adjusted) 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 –
        Antidilution 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 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.

            

       

      

    

    
      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.

      

      

      
        
          

      

    

    
      	 	 	
              
                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

            

      

      

    

    	 	 	
            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.

     

    

    This redemption feature differs from the warrant redemption features used in some 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. 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 issued and outstanding Class A ordinary shares is increased by a
      capitalization or share dividend paid in Class A ordinary shares to all or substantially all holders of Class A ordinary shares, or by a split-up of Class A 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 issued and outstanding Class A 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.

    

    

    
      
        

    

    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 Class A ordinary
      shares on account of such Class A ordinary shares (or other securities into which the warrants are then 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 approve an amendment to our amended and restated memorandum and articles of association (i) that would affect the substance or timing of our obligation to
      provide for the redemption of our public shares in connection with an initial business combination or to redeem 100% of our public shares if we have not consummated an initial business combination before June 7, 2023 (or September 7, 2023 if the
      period of time to consummate a business combination is extended)or (ii) with respect to any other provision relating to shareholders’ rights or pre-initial business combination activity, 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 issued and outstanding Class A ordinary shares is decreased by a consolidation,
      combination, reverse share split or reclassification of Class A ordinary shares or other similar event, then, on the effective date of such consolidation, combination, reverse share split, 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 issued and 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 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 completion 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, then 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 $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, and 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 share 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.

    

    

    
      
        

    

    In case of any reclassification or reorganization of the issued and 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 issued and
      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 overthe- 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 warrants have been 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 the prospectus filed in connection with our IPO, 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 50% of the then outstanding public warrants is required to make any change that adversely affects the interests of the registered holders and, solely with respect to any
      amendment to the terms of the private placement warrants or any provision of the warrant agreement with respect to the private placement warrants, at least 50% of the then outstanding private placement warrants.

    

    

    
      
        

    

    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
      designates the courts of the State of New York or the United States District Court for the Southern District of New York as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by holders of our 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 IPO. 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, Apollo or their permitted
      transferees (except as otherwise set forth herein). Our sponsor, Apollo or their permitted transferees, have 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, Apollo or their 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 being sold in our IPO. 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 50% of the number of the then outstanding private placement
      warrants.

     

    

    In connection with a redemption of our warrants when the price per Class A ordinary share equals or exceeds $10.00, holders of private placement warrants who exercise their shares on a cashless basis would receive that
      number of shares determined by reference to the table set forth under “Description of Securities - Warrants – Public Shareholders’ Warrants.” If holders of private placement warrants elect to exercise them on a cashless basis at any time other than
      in connection with such a redemption of warrants by us, they would pay the exercise price by surrendering their 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. 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. We expect to have policies in place that restrict
      insiders from selling our securities except during specific periods. 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.

    

    

    
      
        

    

    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. We effected a share capitalization or  with respect to our Class B ordinary shares on December 6, 2021, in such amount as to maintain the number of founder shares, on an
      as-converted basis, at 20% of the total number of Class A ordinary shares and Class B ordinary shares. Further, if we incur any indebtedness in connection with our initial 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. Continental Stock Transfer & Trust Company has agreed that it has no right of set-off or any right, title, interest or claim of any kind to, or
      to any monies in, the trust account, and has irrevocably waived any right, title, interest or claim of any kind to, or to any monies in, the trust account that it may have now or in the future. Accordingly, any indemnification provided will only be
      able to be satisfied, or a claim will only be able to be pursued, solely against us and our assets outside the trust account and not against the any monies in the trust account or interest earned thereon.

    

    

    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 U.S. corporations
      and their shareholders. Set forth below is a summary of the material differences between the provisions of the Companies Act applicable to us and the laws applicable to companies incorporated in the United States and their shareholders.

    

    

    
      
        

    

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

    

    

    Where the merger or consolidation is between two Cayman Islands companies, the directors of each company must approve a written plan of merger or consolidation containing certain prescribed information. That plan or
      merger or consolidation must then be authorized by (a) a special resolution (usually a majority of 66-2∕3% in value of the voting shares voted at a general meeting) of the shareholders of each company and (b) such other authorization, if any, as may
      be specified in such constituent company’s articles of association. No shareholder resolution is required for a merger between a parent company (i.e., a company that 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.

    

    

    
      
        

    

    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 U.S. corporations.

    

    

    Squeeze-out Provisions.

    When a takeover offer is made and accepted by holders of 90% of the shares to whom the offer is made 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 (Cayman) LLP, 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;

          

    	

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

    

    

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

    	

          	•	
            annual reporting requirements are minimal and consist mainly of a statement that the company has conducted its operations mainly outside of the Cayman Islands and has complied with the provisions of the Companies Act;

          

    	

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

          

    	

          	•	
            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 20 years in the first instance);

          

     

    

    
      
        

    

    	

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

          

    	

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

          

    	

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

          

    

    

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

    

    

    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 relating to our IPO that will apply to us until the completion of our initial
      business combination. These provisions cannot be amended without a special resolution. As a matter of Cayman Islands law, a resolution is deemed to be a special resolution under Cayman Islands law 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. 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 (i.e., the lowest threshold permissible under Cayman Islands law), or by a unanimous written resolution of all of our shareholders.

    

    

    Our initial shareholders, 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 do not complete our initial business combination before June 7, 2023 (or September 7, 2023 if the period of time to consummate a business combination is extended), we will (i) cease all operations except for the purpose of winding
              up; (ii) as promptly as reasonably possible but not more than 10 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
              (less up to $100,000 of interest to pay dissolution expenses and net of taxes paid or payable), divided by the number of then issued and outstanding public shares, which redemption will completely extinguish public shareholders’ rights as
              shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors,
              liquidate and dissolve, subject in each case, to our obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law;

          

    	

          	•	
            Prior to our initial business combination, we may not issue additional shares that would entitle the holders thereof to (i) receive funds from the trust account or (ii) vote as a class with our public shares (a) on any initial business
              combination or (b) to approve an amendment to our amended and restated memorandum and articles of association to extend the time we have to consummate a business combination beyond June 7, 2023 (or September 7, 2023 if the period of time to
              consummate a business combination is extended);

          

    	

          	•	
            In the event we seek to complete our initial business combination with a company that is affiliated with our sponsor or any of our founders, officers or directors, we, or a committee of independent directors, will obtain an opinion from an
              independent investment banking firm that is a member of FINRA or an independent accounting firm that such initial business combination or transaction is fair to our company from a financial point of view;

          

    	

          	•	
            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;

          

     

    

    
      
        

    

    	

          	•	
            We must consummate an initial business combination with one or more operating businesses or assets with a fair market value equal to at least 80% of the net assets held in the trust account (net of amounts disbursed to management for
              working capital purposes and excluding the amount of any deferred underwriting discount held in trust) at the time of our signing a definitive agreement in connection with our initial business combination;

          

    	

          	•	
            If our shareholders approve an amendment to our amended and restated memorandum and articles of association (i) that would affect the substance or timing of our obligation to provide for the redemption of our public shares in connection
              with an initial business combination or to redeem 100% of our public shares if we have not consummated an initial business combination before June 7, 2023 (or September 7, 2023 if the period of time to consummate a business combination is
              extended) or (ii) with respect to any other provision relating to shareholders’ rights or pre-initial business combination activity, we will provide our public shareholders with the opportunity to redeem all or a portion of their public
              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 (net of taxes paid or payable) divided by the number of then issued and 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 upon completion of our initial business combination.

    

    

    The Companies Act permits a company incorporated in the Cayman Islands to amend its memorandum and articles of association with the approval of a special resolution 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 provides otherwise.
      Accordingly, although we could amend any of the provisions relating to our 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 - 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 (As Revised) 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 (As Revised) of the Cayman Islands, if the disclosure relates to involvement with terrorism or terrorist financing and property. Such a
      report will not be treated as a breach of confidence or of any restriction upon the disclosure of information imposed by any enactment or otherwise.

    

    

    
      
        

    

    Cayman Islands Data Protection

    

    

    We have certain duties under the Data Protection Act (As Revised) of the Cayman Islands (the “DPA”) based on internationally accepted principles of data privacy.

    

    

    Privacy Notice

    

    

    Introduction

    

    

    This privacy notice puts our shareholders on notice that through your investment in the company you will provide us with certain personal information which constitutes personal data within the meaning of the DPA
      (“personal data”). In the following discussion, the “Company” refers to us and our affiliates and/or delegates, except where the context requires otherwise.

    

    

    Investor Data

    

    

    We will collect, use, disclose, retain and secure personal data to the extent reasonably required only and within the parameters that could be reasonably expected during the normal course of business. We will only
      process, disclose, transfer or retain personal data to the extent legitimately required to conduct our activities of on an ongoing basis or to comply with legal and regulatory obligations to which we are subject. We will only transfer personal data
      in accordance with the requirements of the DPA, and will apply appropriate technical and organizational information security measures designed to protect against unauthorized or unlawful processing of the personal data and against the accidental
      loss, destruction or damage to the personal data. In our use of this personal data, we will be characterized as a “data controller” for the purposes of the DPA, while our affiliates and service providers who may receive this personal data from us in
      the conduct of our activities may either act as our “data processors” for the purposes of the DPA or may process personal information for their own lawful purposes in connection with services provided to us. We may also obtain personal data from
      other public sources. Personal data includes, without limitation, the following information relating to a shareholder and/or any individuals connected with a shareholder as an investor: name, residential address, email address, contact details,
      corporate contact information, signature, nationality, place of birth, date of birth, tax identification, credit history, correspondence records, passport number, bank account details, source of funds details and details relating to the shareholder’s
      investment activity.

    

    

    Who This Affects

    

    

    If you are a natural person, this will affect you directly. If you are a corporate investor (including, for these purposes, legal arrangements such as trusts or exempted limited partnerships) that provides us with
      personal data on individuals connected to you for any reason in relation your investment in the company, this will be relevant for those individuals and you should transmit the content of this Privacy Notice to such individuals or otherwise advise
      them of its content.

    

    

    How the Company May Use a Shareholder’s Personal Data The company, as the data controller, may collect, store and use personal data for lawful purposes, including, in particular:

    

    

    
      	 	
              (i)

            	
              where this is necessary for the performance of our rights and obligations under any purchase agreements;

            

    

    
      	 	
              (ii)

            	
              where this is necessary for compliance with a legal and regulatory obligation to which we are subject (such as compliance with anti-money laundering and FATCA/CRS requirements); and/or

            

    

    
      	 	
              (iii)

            	
              where this is necessary for the purposes of our legitimate interests and such interests are not  overridden by your interests, fundamental rights or freedoms.

            

    

    

    

    
      
        

    

    Should we wish to use personal data for other specific purposes (including, if applicable, any purpose that requires

    your consent), we will contact you.

    

    

    Why We May Transfer Your Personal Data

    

    

    In certain circumstances we may be legally obliged to share personal data and other information with respect to your shareholding with the relevant regulatory authorities such as the Cayman Islands Monetary Authority
      or the Tax Information Authority. They, in turn, may exchange this information with foreign authorities, including tax authorities. We anticipates disclosing personal data to persons who provide services to us and their respective affiliates (which
      may include certain entities located outside the United States, the Cayman Islands or the European Economic Area), who will process your personal data on our behalf.

    

    

    The Data Protection Measures We Take

    

    

    Any transfer of personal data by us or our duly authorized affiliates and/or delegates outside of the Cayman Islands shall be in accordance with the requirements of the DPA. We and our duly authorized affiliates and/or
      delegates shall apply appropriate technical and organizational information security measures designed to protect against unauthorized or unlawful processing of personal data, and against accidental loss or destruction of, or damage to, personal data.
      We shall notify you of any personal data breach that is reasonably likely to result in a risk to your interests, fundamental rights or freedoms or those data subjects to whom the relevant personal data relates.

    

    

    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 be classified into three classes of directors and also include provisions providing for advance notice procedures,
      inability of shareholders to call a general meeting and removal of directors only for cause and only by the board 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. In addition, prior to our initial business combination, only holders of our Class B ordinary shares have the right to vote on the appointment of directors, including in connection with the completion of
      our initial business combination and holders of a majority of our Class B ordinary 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 relating to
      the rights of holders of Class B ordinary shares to appoint or remove directors prior to our initial business combination may only be amended by a special resolution which shall include the affirmative vote of a majority of our Class B ordinary
      shares. Our authorized but unissued Class A ordinary shares and preference shares are 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

    

    

    We have 23,718,750 ordinary shares issued and outstanding. Of these shares, the 18,975,000 Class A ordinary shares sold in our IPO 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 4,743,750 founder shares outstanding founder shares and all of the 9,225,000 are 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 12 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 issued and outstanding; or

          

    	

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

          

    

    

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

    

    

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

    

    

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

    	

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

          

    	

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

          

    	

          	•	
            the issuer of the securities has filed all Exchange Act reports and material required to be filed, as applicable, during the preceding 12 months (or such shorter period that the issuer was required to file such reports and materials),
              other than Form 8-K reports; and

          

    	

          	•	
            at least one year has elapsed from the time that the issuer filed current Form 10 type information with the SEC reflecting its status as an entity that is not a shell company.

          

    As a result, our initial shareholders will be able to sell their 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 Rights

    The holders of the founder shares, private placement warrants and 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 rights agreement. 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. We
      will bear the expenses incurred in connection with the filing of any such registration statements.

    

    

    Listing of Securities

     Our units began trading on December 3, 2021 on Nasdaq under the symbol “BOCNU.” The Class A ordinary shares and warrants comprising the units began separate trading on January 24, 2022 and are listed on Nasdaq under
      the symbols “BOCN” and “BOCNW,” respectively. The units will automatically separate into their component parts and will not be traded following the completion of our initial business combination.

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