Document:

Exhibit 4.2

 

DESCRIPTION OF SECURITIES

 

Pursuant to our amended and restated certificate
of incorporation, our authorized capital stock consists of 100,000,000 shares of common stock, $0.0001 par value, and 1,000,000 shares
of undesignated preferred stock, $0.0001 par value. The following description summarizes the material terms of our securities. Because
it is only a summary, it may not contain all the information that is important to you.

 

Units

 

Each unit consisted of one share of common stock
and one redeemable warrant. Each warrant entitles the holder thereof to purchase three quarters of one share of our common stock at a
price of $11.50 per share, subject to adjustment as set forth in the Warrant Agreement. The common stock and warrants comprising the units
commenced separate trading on April 4, 2022, and the units ceased separate trading on such date.

 

Common Stock

 

Common stockholders of record are entitled to
one vote for each share held on all matters to be voted on by stockholders. Unless specified in our amended and restated certificate of
incorporation or bylaws, or as required by applicable provisions of the DGCL or applicable stock exchange rules, the affirmative vote
of a majority of our common stock that are voted is required to approve any such matter voted on by our stockholders.

 

Our board of directors is divided into two classes,
each of which will generally serve for a term of one year with only one class of directors being elected in each year. There is no cumulative
voting with respect to the election of directors, with the result that the holders of more than 50% of the shares voted for the election
of directors can elect all of the directors (prior to consummation of our initial business combination). Our stockholders 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 certificate of
incorporation authorize the issuance of up to 100,000,000 shares of common stock, 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 shares of common stock which we are
authorized to issue at the same time as our stockholders vote on the business combination to the extent we seek stockholder approval in
connection with our business combination.

 

In accordance with the NYSE American corporate
governance requirements, we are not required to hold an annual meeting until one year after our first full fiscal year end following our
listing on the NYSE American. Under Section 211(b) of the DGCL, we are, however, required to hold an annual meeting of stockholders
for the purposes of electing directors in accordance with our bylaws unless such election is made by written consent in lieu of such a
meeting. We may not hold an annual meeting of stockholders to elect new directors prior to the consummation of our initial business combination,
and thus we may not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting. Therefore, if our stockholders
want us to hold an annual meeting prior to the consummation of our initial business combination, they may attempt to force us to hold
one by submitting an application to the Delaware Court of Chancery in accordance with Section 211(c) of the DGCL.

 

We will provide our stockholders 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 as of two business days prior to the consummation of our initial
business combination, including interest (which interest shall be net of taxes payable) divided by the number of then 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. Our sponsor and its permitted transferees each has entered into a letter agreement with us, pursuant to which each has agreed to
waive its redemption rights with respect to all shares of our common stock then owned by it in connection with the completion of our business
combination. Unlike many blank check companies that hold stockholder 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 stockholder vote is not required by law and we do not decide to hold a stockholder vote
for business or other legal reasons, we will, pursuant to our amended and restated certificate of incorporation, 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 certificate of incorporation requires 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 stockholder approval of the transaction is required by law, or we decide to obtain stockholder approval for business or
other legal 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 stockholder approval, we will complete our initial business
combination only if a majority of the outstanding shares of common stock voted are voted in favor of the business combination. A quorum
for such meeting will consist of the holders present in person or by proxy of shares of outstanding capital stock of the company representing
a majority of the voting power of all outstanding shares of capital stock of the company entitled to vote at such meeting. 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 business combination even if a majority of our public stockholders vote, or indicate their intention to
vote, against such business combination. For purposes of seeking approval of the majority of our outstanding shares of common stock, non-votes will
have no effect on the approval of our business combination once a quorum is obtained. We intend to give approximately 30 days (but
not less than 10 days nor more than 60 days) prior written notice of any such meeting, if required, at which a vote shall be
taken to approve our business combination. These quorum and voting thresholds, and the voting agreement of our sponsor, may make it more
likely that we will consummate our initial business combination.

 

     

     

    

 

If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our business combination pursuant to the tender offer rules,
our amended and restated certificate of incorporation provides that a public stockholder, together with any affiliate of such stockholder
or any other person with whom such stockholder 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 an aggregate of 10% or more of the shares of common stock
sold in our initial public offering, which we refer to as the “Excess Shares.” However, we would not be restricting our stockholders’
ability to vote all of their shares (including Excess Shares) for or against our business combination. Our stockholders’ inability
to redeem the Excess Shares will reduce their influence over our ability to complete our business combination, and such stockholders could
suffer a material loss on their investment if they sell such Excess Shares on the open market. Additionally, such stockholders will not
receive redemption distributions with respect to the Excess Shares if we complete the business combination, and, as a result, such stockholders
will continue to hold that number of shares equal to or exceeding 10%. In order to dispose such shares, such stockholders would be required
to sell their stock in open market transactions, potentially at a loss.

 

If we seek stockholder approval in connection
with our business combination, our sponsor has agreed to vote all shares of our common stock having voting rights that it then owns in
favor of our initial business combination. In addition, in the event that our board of directors amends our bylaws to reduce the number
of shares required to be present at a meeting of our stockholders, we would need even fewer public shares to be voted in favor of our
initial business combination to have such transaction approved.

 

Each public stockholder may elect to redeem its
public shares irrespective of whether they vote for or against the proposed transaction (subject to the limitations described in the preceding
paragraph). Pursuant to our amended and restated certificate of incorporation, if we are unable to complete our business combination within
12 months (or within 18 months if we extend the period of time to consummate a business combination) from February 10, 2022,
we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more
than ten business days thereafter, subject to lawfully available funds therefor, 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 (which interest shall be net of
taxes payable and less up to $100,000 of interest to pay dissolution expenses) divided by the number of then outstanding public shares,
which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further
liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in each case to our
obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. Our sponsor and its permitted
transferees each has entered into a letter agreement with us, pursuant to which each has agreed to waive its rights to liquidating distributions
from the trust account with respect to its founder shares and, solely with respect to the sponsor, the private placement shares, if we
fail to complete our business combination within 12 months (or within 18 months if we extend the period of time to consummate
a business combination) from February 10, 2022. However, if our sponsor or permitted transferees acquire public shares, it will be entitled
to liquidating distributions from the trust account with respect to such public shares if we fail to complete our business combination
within the prescribed time frame.

 

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In the event of a liquidation, dissolution or
winding up of the company after a business combination, our stockholders 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 stock, if any, having preference over
the common stock. Our stockholders have no preemptive or other subscription rights. There are no sinking fund provisions applicable to
the common stock, except that we will provide our stockholders with the opportunity to redeem their public shares for cash equal to their
pro rata share of the aggregate amount then on deposit in the trust account, including interest (which interest shall be net of taxes
payable) upon the completion of our initial business combination, subject to the limitations described herein.

 

Founder Shares

 

On December 24, 2020, we issued an aggregate
of 2,875,000 founder shares for an aggregate purchase price of $25,000, or approximately $0.01 per share, to our sponsor. On February 4,
2022, our sponsor forfeited 373,750 founder shares and as a result, there are currently 2,501,250 founder shares issued and outstanding.

 

Our sponsor and its permitted transferees each
has agreed to not transfer any of its ownership interest in the founder shares (except to certain permitted transferees, as described
below) until the earlier of (i) 180 days following the completion of our initial business combination or earlier if, subsequent to
our initial business combination, the last sale price of our common stock equals or exceeds $12.00 per share (as adjusted for stock splits,
stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing
at least 90 days after our initial business combination and (ii) the date on which we complete a liquidation, merger, stock exchange
or other similar transaction after our initial business combination that results in all of our public stockholders having the right to
exchange their shares of common stock for cash, securities or other property.

 

Notwithstanding the restriction on transfers of
the founder shares, such shares may be transferred (i) to our officers or directors, any affiliates or family members of any of our
officers or directors, any members of our sponsor or any affiliates or family members of members of our sponsor, or any affiliates of
our sponsor (or their employees), (ii) in the case of an individual, by gift to a member of one of the individual’s immediate
family or to a trust, the beneficiary of which is a member of one of the individual’s immediate family, an affiliate of such person
or to a charitable organization, (iii) in the case of an individual, by virtue of laws of descent and distribution upon death of
the individual, (iv) in the case of an individual, pursuant to a qualified domestic relations order, (v) by private sales or
transfers made in connection with the consummation of a business combination at prices no greater than the price at which the shares were
originally purchased, (vi) if a holder is an entity, as a distribution to its partners, shareholders, officers or members upon its
liquidation, or (vii) by virtue of the laws of Delaware or our sponsor’s limited liability company agreement upon dissolution
of our sponsor; provided, however, that in each case, the permitted transferees must enter into a written agreement agreeing to be bound
by these transfer restrictions to the extent and for the duration that such terms remain in effect at the time of the transfer and by
the same agreements entered into by our sponsor with respect to the founder shares (including provisions relating to voting, the trust
account and liquidation distributions).

 

Other than the transfer restrictions described
above, the founder shares are identical to the shares of common stock included in the units sold in our initial public offering, and holders
of founder shares have the same stockholder rights as public stockholders, except that (i) the founder shares have registration rights
and (ii) our sponsor and its permitted transferees each has entered into a letter agreement with us, pursuant to which each has agreed
to waive (x) its redemption rights with respect to the founder shares (and all other shares of our common stock then owned by it)
in connection with the completion of our initial business combination and (y) its rights to liquidating distributions from the trust
account with respect to its founder shares (and with respect to our sponsor, the private placement shares) if we fail to complete our
initial business combination within 12 months (or within 18 months if we extend the period of time to consummate a business
combination) from February 10, 2022 (although it will be entitled to liquidating distributions from the trust account with respect to
any public shares they hold if we fail to complete our business combination within the prescribed time frame).

 

Preferred Stock

 

Our amended and restated certificate of incorporation
provides that shares of preferred stock may be issued from time to time in one or more series. Our board of directors are 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 are able to, without
stockholder approval, issue preferred stock with voting and other rights that could adversely affect the voting power and other rights
of the holders of the common stock and could have anti-takeover effects. The ability of our board of directors to issue preferred
stock without stockholder 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 preferred stock outstanding at the date hereof. Although we do not currently intend to issue any shares
of preferred stock, we cannot assure you that we will not do so in the future.

 

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Warrants

 

Each warrant entitles the registered holder to
purchase three quarters of one share of common stock at a price of $11.50 per share, subject to adjustment as discussed below, at any
time commencing 30 days after the completion of our initial business combination. However, no warrants will be exercisable for cash unless
we have an effective and current registration statement covering the shares of common stock issuable upon exercise of the warrants and
a current prospectus relating to such shares of common stock. Notwithstanding the foregoing, if a registration statement covering the
shares of common stock issuable upon exercise of the public warrants is not effective within a specified period following the consummation
of our initial business combination, warrant holders may, until such time as there is an effective registration statement and during any
period when we shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis pursuant to the
exemption provided by Section 3(a)(9) of the Securities Act, provided that such exemption is available. If that exemption, or another
exemption, is not available, holders will not be able to exercise their warrants on a cashless basis. In the event of such cashless exercise, each
holder would pay the exercise price by surrendering the warrants for that number of shares of common stock equal to the quotient
obtained by dividing (x) the product of the number of shares of common stock underlying the warrants, multiplied by the difference
between the exercise price of the warrants and the “fair market value” (defined below) by (y) the fair market value.
The “fair market value” for this purpose will mean the average reported last sale price of the shares of common stock for
the 5 trading days ending on the trading day prior to the date of exercise. The warrants will expire on the fifth anniversary of our completion
of an initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

 

The private warrants, as well as any warrants
we issue to our sponsor, officers, directors, initial stockholders or their affiliates in payment of working capital loans made to us,
are identical to the warrants offered in the units sold in our initial public offering.

 

We may call the warrants for redemption, in whole
and not in part, at a price of $0.01 per warrant:

 

		●	at any time after the warrants become exercisable,

 

		●	upon not less than 30 days’ prior written notice of
redemption to each warrant holder,

 

		●	if, and only if, the reported last sale price of the shares
of common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations),
for any 20 trading days within a 30 trading day period commencing at any time after the warrants become exercisable and ending on the
third business day prior to the notice of redemption to warrant holders; and

 

		●	if, and only if, there is a current registration statement
in effect with respect to the shares of common stock underlying such warrants.

 

The right to exercise will be forfeited unless
the warrants are exercised prior to the date specified in the notice of redemption. On and after the redemption date, a record holder
of a warrant will have no further rights except to receive the redemption price for such holder’s warrant upon surrender of such
warrant.

 

The redemption criteria for our warrants have
been established at a price which is intended to provide warrant holders a reasonable premium to the initial exercise price and provide
a sufficient differential between the then- prevailing share price and the warrant exercise price so that if the share price declines
as a result of our redemption call, the redemption will not cause the share price to drop below the exercise price of the warrants.

 

If we call the warrants for redemption as described
above, our management will have the option to require all holders that wish to exercise warrants to do so on a “cashless basis.”
In such event, each holder would pay the exercise price by surrendering the warrants for that number of shares of common stock equal to
the quotient obtained by dividing (x) the product of the number of shares of common stock underlying the warrants, multiplied by the difference
between the exercise price of the warrants and the “fair market value” (defined below) by (y) the fair market value. The “fair
market value” for this purpose shall mean the average reported last sale price of the shares of common stock for the 5 trading days
ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants.

 

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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 (i) to cure any ambiguity or correct any mistake, including
to conform the provisions of the warrant agreement to the description of the terms of the warrants and the warrant agreement set forth
in our initial public offering prospectus, or to cure, correct or supplement any defective provision, or (ii) to add or change any other
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 interests of the registered holders of the warrants. The warrant agreement
requires the approval, by written consent or vote, of the holders of at least 50% of the then outstanding public warrants in order to
make any change that adversely affects the interests of the registered holders.

 

The exercise price and number of shares of common
stock issuable on exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, extraordinary
dividend or our recapitalization, reorganization, merger or consolidation. However, except as described below, the warrants will not be
adjusted for issuances of shares of common stock at a price below their respective exercise prices.

 

In addition, if (x) we issue additional shares
of common stock or equity-linked securities for capital raising purposes in connection with the closing of our initial business combination
at a Newly Issued Price of less than $9.20 per share of common stock (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, initial stockholders or their affiliates,
without taking into account any founder shares held by them prior to such issuance), (y) the aggregate gross proceeds from such issuances
represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination
on the date of the consummation of our initial business combination (net of redemptions), and (z) the 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 greater of (i) the
Market Value or (ii) the Newly Issued Price, and the $18.00 per share redemption trigger price of the warrants will be adjusted (to the
nearest cent) to be equal to 180% of the greater of (i) the Market Value or (ii) the Newly Issued Price.

 

The warrants may be exercised upon surrender of
the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the reverse
side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price, by certified or
official bank check payable to us, for the number of warrants being exercised. The warrant holders do not have the rights or privileges
of holders of shares of common stock and any voting rights until they exercise their warrants and receive shares of common stock. After
the issuance of shares of common stock 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 stockholders.

 

Warrant holders may elect to be subject to a restriction
on the exercise of their warrants such that an electing warrant holder would not be able to exercise their warrants to the extent that,
after giving effect to such exercise, such holder would beneficially own in excess of 9.8% of the shares of common stock outstanding.

 

No fractional shares will be issued upon exercise
of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon
exercise, round up to the nearest whole number the number of shares of common stock 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, including under the Securities
Act, 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. This exclusive forum provision shall not apply to suits brought to enforce a duty or liability created by the Exchange Act,
any other claim for which the federal district courts of the United States of America are the sole and exclusive forum.

 

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Private Placement Units (And Constituent Securities)

 

The private placement units were identical to
the units sold in our initial public offering except that (i) the private placement units (and their constituent securities) cannot
be transferred (except to certain permitted transferees) until 30 days after the completion of our initial business combination and (ii) the
private placement units (and their constituent securities) will be entitled to registration rights. If the private placement warrants
included in the private placement units are held by holders other than our sponsor or any of its permitted transferees, such warrants
will be redeemable by us and exercisable by the holders on the same basis as the warrants included in the units sold in our initial public
offering. The private units separated into common stock and warrants on April 4, 2022 and no private placement units are outstanding.

 

If holders of the private placement warrants elect
to exercise them on a cashless basis, they would pay the exercise price by surrendering their warrants for that number of shares of common
stock equal to the quotient obtained by dividing (i) the product of the number of shares of common stock underlying the warrants,
multiplied by the difference between the exercise price of the warrants and the “fair market value” (defined below) by (ii) the
fair market value. The “fair market value” shall mean the average reported last sale price of the common stock for the 10
trading days ending on the third trading day prior to the date on which the notice of warrant exercise is sent to the warrant agent.

 

The reason that we have agreed that the private
placement warrants will be exercisable on a cashless basis so long as they are held by the sponsor or its permitted transferees is because
it is not known at this time whether they will be affiliated with us following an initial business combination. If they remain affiliated
with us, their ability to sell our securities in the open market will be significantly limited. We expect to have policies in place that
prohibit insiders from selling our securities except during specific periods of time. Even during such periods of time when insiders will
be permitted to sell our securities, an insider cannot trade in our securities if he or she is in possession of material non-public information.
Accordingly, unlike public stockholders who could sell the shares of common stock issuable upon exercise of their warrants freely in the
open market in order to recoup the cost of such exercise, the insiders could be significantly restricted from doing so. As a result, we
believe that allowing the holders to exercise such warrants on a cashless basis is appropriate.

 

In order to meet our working capital needs, if
the funds available to us are insufficient, our sponsor or its affiliates may, but are not obligated to, loan or advance to us funds,
as may be required. If we complete our initial business combination, we would repay or reimburse, as applicable, such loaned or advanced
amounts out of the proceeds of the trust account released to us. In the event that the initial business combination does not close, we
may use a portion of the working capital held outside the trust account to repay or reimburse, as applicable, such loaned or advanced
amounts, but no other proceeds from our trust account would be used for such repayment or reimbursement. To the extent that our sponsor
or its affiliates extend any such loan, the terms of such loan may allow the conversion of a fixed portion of such loan into units at
the option of the lender. Any such units would be identical to the private placement units issued to our sponsor. The terms of such loans
or advances by our sponsor or its affiliates, if any, have not been determined and no written agreements exist with respect to such loans
or advances.

 

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. 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.

 

Dividends

 

We have not paid any cash dividends on our common
stock to date and do not intend to pay cash dividends prior to the completion of a 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 a business combination. The payment of any cash dividends subsequent to a business combination will be within the discretion
of our board of directors at such time. In addition, our board of directors is not currently contemplating and does not anticipate declaring
any stock dividends in the foreseeable future. Further, if we incur any indebtedness, our ability to declare dividends may be limited
by restrictive covenants we may agree to in connection therewith.

 

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Our Transfer Agent and Warrant Agent

 

The transfer agent for our common stock 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 stockholders, directors, officers and employees
against all liabilities, including judgments, costs and reasonable counsel fees that may arise out of acts performed or omitted for its
activities in that capacity, except for any liability due to any gross negligence, willful misconduct or bad faith of the indemnified
person or entity.

 

Our Amended and Restated Certificate of Incorporation

 

Provisions Relating to our Initial Public
Offering

 

Our amended and restated certificate of incorporation
contains certain requirements and restrictions relating to our initial public offering that will apply to us until the completion of our
initial business combination. Specifically, our amended and restated certificate of incorporation will provide, among other things, that:

 

		●	if we are unable to complete our initial business combination
within 12 months (or within 18 months if we extend the period of time to consummate a business combination) from February 10,
2022, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not
more than ten business days thereafter, subject to lawfully available funds therefor, redeem 100% of 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 (which interest shall be net
of taxes payable and less up to $100,000 of interest to pay dissolution expenses) divided by the number of then outstanding public shares,
which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further
liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in each case to our
obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law;

 

		●	prior to our initial business combination, we may not issue
additional shares of capital stock that would entitle the holders thereof to (i) receive funds from the trust account or (ii) vote
on any initial business combination;

 

		●	so long as we obtain and maintain a listing for our securities
on the NYSE American, our initial business combination must be with one or more target businesses that together have an aggregate fair
market value equal to at least 80% of the value of the assets held in the trust account (excluding taxes payable on the interest earned
on the trust account) at the time of our signing a definitive agreement in connection with our initial business combination; and

 

		●	we will not effectuate our initial business combination with
another blank check company or a similar company with nominal operations.

 

In addition, our amended and restated certificate
of incorporation provides 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 the consummation of our initial business combination.

 

Certain Anti-Takeover Provisions of Delaware
Law and our Amended and Restated Certificate of Incorporation and Bylaws

 

We are subject to the provisions of Section 203
of the DGCL regulating corporate takeovers. This statute prevents certain Delaware corporations, under certain circumstances, from engaging
in a “business combination” with:

 

		●	a stockholder who owns 15% or more of our outstanding voting
stock, otherwise known as an “interested stockholder”;

 

		●	an affiliate of an interested stockholder; or

 

		●	an associate of an interested stockholder, for three years
following the date that the stockholder became an interested stockholder.

 

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A “business combination” includes
a merger or sale of more than 10% of our assets. However, the above provisions of Section 203 do not apply if:

 

		●	our board of directors approves the transaction that made
the stockholder an “interested stockholder,” prior to the date of the transaction;

 

		●	after the completion of the transaction that resulted in
the stockholder becoming an interested stockholder, that stockholder owned at least 85% of our voting stock outstanding at the time the
transaction commenced, other than statutorily excluded shares of common stock; or

 

		●	on or subsequent to the date of the transaction, the business
combination is approved by our board of directors and authorized at a meeting of our stockholders, and not by written consent, by an
affirmative vote of at least two-thirds of the outstanding voting stock not owned by the interested stockholder.

 

Our amended and restated certificate of incorporation
provides that our board of directors are classified into two classes of directors. As a result, in most circumstances, a person can gain
control of our board only by successfully engaging in a proxy contest at two or more annual meetings.

 

Our authorized but unissued common stock and preferred
stock are available for future issuances without stockholder 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
common stock and preferred stock could render more difficult or discourage an attempt to obtain control of us by means of a proxy contest,
tender offer, merger or otherwise.

 

Exclusive Forum for Certain Lawsuits

 

Our amended and restated certificate of incorporation
requires, to the fullest extent permitted by law, that derivative actions brought in our name, actions against our directors, officers,
other employees or stockholders for breach of fiduciary duty and certain other actions may be brought only in the Court of Chancery in
the State of Delaware and, if brought outside of Delaware, the stockholder bringing the suit will be deemed to have consented to service
of process on such stockholder’s counsel except any action (A) as to which the Court of Chancery in the State of Delaware determines
that there is an indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does not consent
to the personal jurisdiction of the Court of Chancery within ten days following such determination), (B) which is vested in the exclusive
jurisdiction of a court or forum other than the Court of Chancery or (C) for which the Court of Chancery does not have subject matter
jurisdiction. Any person or entity purchasing or otherwise acquiring any interest in shares of our capital stock shall be deemed to have
notice of and consented to the forum provisions in our amended and restated certificate of incorporation. This choice of forum provision
may limit or make more costly a stockholder’s ability to bring a claim in a judicial forum that it finds favorable for disputes
with us or any of our directors, officers, other employees or stockholders, which may discourage lawsuits with respect to such claims.
Alternatively, if a court were to find the choice of forum provision contained in our amended and restated certificate of incorporation
to be inapplicable or unenforceable in an action, we may incur additional costs associated with resolving such action in other jurisdictions,
which could harm our business, operating results and financial condition.

 

Our amended and restated certificate of incorporation
provides that the exclusive forum provision will be applicable to the fullest extent permitted by applicable law, subject to certain exceptions.
Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created
by the Exchange Act or the rules and regulations thereunder. As a result, the exclusive forum provision will not apply to suits brought
to enforce any duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction.
In addition, our amended and restated certificate of incorporation provides that, unless we consent in writing to the selection of an
alternative forum, the federal district courts of the United States of America shall, to the fullest extent permitted by law, be
the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act of 1933, as amended,
or the rules and regulations promulgated thereunder. We note, however, that there is uncertainty as to whether a court would enforce this
provision and that investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder. Section 22
of the Securities Act creates concurrent jurisdiction for state and federal courts over all suits brought to enforce any duty or liability
created by the Securities Act or the rules and regulations thereunder.

 

    8

     

    

 

Special Meeting of Stockholders

 

Our bylaws provide that special meetings of our
stockholders may be called only by a majority vote of our board of directors, by our Chief Executive Officer or by our Chairman.

 

Advance Notice Requirements for Stockholder
Proposals and Director Nominations

 

Our bylaws provide that stockholders seeking to
bring business before our annual meeting of stockholders, or to nominate candidates for election as directors at our annual meeting of
stockholders must provide timely notice of their intent in writing. To be timely, a stockholder’s notice will need to be received
by the company secretary at our principal executive offices not later than the close of business on the 90th day nor earlier
than the opening of business on the 120th day prior to the anniversary of the immediately preceding annual meeting of
stockholders. Pursuant to Rule 14a-8 of the Exchange Act, proposals seeking inclusion in our annual proxy statement must comply
with the notice periods contained therein. Our bylaws also specify certain requirements as to the form and content of a stockholders’
meeting. These provisions may preclude our stockholders from bringing matters before our annual meeting of stockholders or from making
nominations for directors at our annual meeting of stockholders.

 

Action by Written Consent

 

Any action required or permitted to be taken by
our common stockholders must be effected by a duly called annual or special meeting of such stockholders and may not be effected by written
consent of the stockholders other than with respect to our common stock.

 

Classified Board of Directors

 

Our board of directors have been initially be
divided into two classes, Class I and Class II, with members of each class serving staggered one-year terms. Our amended and restated
certificate of incorporation provides that the authorized number of directors may be changed only by resolution of the board of directors.
Subject to the terms of any preferred stock, any or all of the directors may be removed from office at any time, but only for cause and
only by the affirmative vote of holders of a majority of the voting power of all then outstanding shares of our capital stock entitled
to vote generally in the election of directors, voting together as a single class. Any vacancy on our board of directors, including a
vacancy resulting from an enlargement of our board of directors, may be filled only by vote of a majority of our directors then in office.

 

 

9Exhibit 10.1

 

February 10, 2022

 

HNR Acquisition Corp

3730 Kirby Drive, Suite 1200

Houston, TX 77098

 

Re: Initial Public Offering

 

Gentlemen:

 

This letter agreement (this
“Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting
Agreement”) to be entered into by and among HNR Acquisition Corp, a Delaware corporation (the “Company”),
and EF Hutton, division of Benchmark Investments, LLC, as representative of the several underwriters (each, an “Underwriter”
and collectively, the “Underwriters”), relating to an underwritten initial public offering (the “Public
Offering”), of up to 8,625,000 of the Company’s units (including up to 1,125,000 units that may be purchased to cover
over-allotments, if any) (the “Units”), each comprised of one share of the Company’s common stock, par
value $0.0001 per share (the “Common Stock”), and one redeemable warrant. Each warrant (each, a “Warrant”)
entitles the holder thereof to purchase three quarters of one share of Common Stock at a price of $11.50 per share, subject to adjustment.
The Units will be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”)
filed by the Company with the Securities and Exchange Commission (the “Commission”) and the Units have been
approved to be listed on NYSE American. Certain capitalized terms used herein are defined in paragraph 11 hereof.

 

In order to induce the Company
and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, HNRAC Sponsors LLC (the “Sponsor”),
each of the undersigned transferees of Founder Shares (each, a “Transferee”), and each of the undersigned persons,
each of whom is a member of the Company’s board of directors and/or management team (each, an “Insider”
and collectively, the “Insiders”), hereby agrees with the Company as follows:

 

1. The
Initial Stockholders and each Insider agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in
connection with such proposed Business Combination, it, he or she shall (i) vote any shares of Capital Stock owned by it, him or her in
favor of any proposed Business Combination and (ii) not redeem any shares of Common Stock owned by it, him or her in connection with such
stockholder approval. If the Company engages in a tender offer in connection with any proposed Business Combination, each Initial Stockholder
and Insider agrees that it, he or she will not seek to sell its, his or her shares of Common Stock to the Company in connection with such
tender offer.

 

2. The Initial
Stockholders and each Insider hereby agree that in the event that the Company fails to consummate a Business Combination within 12
months from the date of the final Prospectus (or otherwise in accordance with the Company’s amended and restated certificate
of incorporation (the “Charter”)), the Initial Stockholders and each Insider shall take all reasonable
steps to cause the Company to (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, subject to lawfully available funds therefor, redeem 100% of the Common Stock sold as
part of the Units in the Public Offering (the “Offering Shares”), at a per-share price, payable in cash,
equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account
and not previously released to the Company to pay its taxes (which interest shall be net of taxes payable, and less up to $100,000
of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption will
completely extinguish all Public Stockholders’ rights as stockholders of the Company (including the right to receive further
liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such
redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors,
dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of
creditors and other requirements of applicable law. The Initial Stockholders and each Insider agree not to propose any amendment to
the Company’s Charter that would modify (i) the substance or timing of the Company’s obligation to redeem 100% of the
Offering Shares if the Company does not complete a Business Combination within 12 months from the date of the final Prospectus (or
otherwise in accordance with the Company’s Charter) or (ii) the other provisions relating to stockholders’ rights or
pre-initial business combination activities, unless the Company provides its Public Stockholders with the opportunity to redeem
their Offering Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then
on deposit in the Trust Account, including interest (which interest shall be net of amounts released for payment of taxes) divided
by the number of then outstanding Offering Shares. The Initial Stockholders and each Insider each agree to waive its redemption
rights with respect to shares of Capital Stock owned by it in connection with a stockholder vote to approve an amendment to the
Company’s Charter (A) to modify the substance or timing of the Company’s obligation to redeem 100% of the Offering
Shares if the Company does not complete a Business Combination within 12 months from the date of the final Prospectus or (B) with
respect to any other provision relating to stockholders’ rights or pre-initial business combination activity.

 

     

     

    

 

February 10, 2022

Page 2

 

The Initial Stockholders
and each Insider acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust
Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares held by it,
him or her. The Initial Stockholders and each Insider hereby further waives, with respect to any shares of Common Stock held by it, him
or her, if any, any redemption rights it, he or she may have in connection with the consummation of a Business Combination, including,
without limitation, any such rights available in the context of a stockholder vote to approve such Business Combination or in the context
of a tender offer made by the Company to purchase shares of Common Stock (although the Initial Stockholder, the Insiders and their respective
affiliates shall be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold if the Company fails
to consummate a Business Combination within 12 months from the date of the final Prospectus (or otherwise in accordance with the Company’s
Charter)).

 

3. During the period
commencing on the effective date of the Underwriting Agreement and ending on the earlier of (A) 180 days after the completion of the
Business Combination or (B) subsequent to the Business Combination, (x) if the last reported sale price of the Common Stock equals
or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any
20 trading days within any 30-trading day period commencing at least 90 days after the Business Combination or (y) the date on which
the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all
of the Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other
property, each Insider shall not, without the prior written consent of the Representative, (i) sell, offer to sell, contract or
agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or
indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the
meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the
rules and regulations of the Commission promulgated thereunder, with respect to any Units, Warrants, shares of Capital Stock or any
securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by it, him or her, (ii) enter into
any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any
Units, Warrants, shares of Capital Stock or any securities convertible into, or exercisable, or exchangeable for, shares of Common
Stock owned by it, him or her, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise,
or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii). Each of the Insiders and the
Initial Stockholders acknowledges and agrees that, prior to the effective date of any release or waiver of the restrictions set
forth in this paragraph 3 or paragraph 7 below, the Company shall announce the impending release or waiver by press release through
a major news service at least two business days before the effective date of the release or waiver. Any release or waiver granted
shall only be effective two business days after the publication date of such press release. The provisions of this paragraph will
not apply if (i) the release or waiver is effected solely to permit a transfer of securities that is not for consideration and (ii)
the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for the
duration that such terms remain in effect at the time of the transfer.

 

4. In the event of the
liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other shareholders,
members or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim,
damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in
investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the
Company may become subject as a result of any claim by (i) any third party (other than the Company’s independent accountants)
for services rendered or products sold to the Company or (ii) a prospective target business with which the Company has entered into
a letter of intent, confidentiality or other similar agreement for a Business Combination agreement (a
“Target”); provided, however, that such indemnification of the Company by the Sponsor shall
apply only to the extent necessary to ensure that such claims by a third party for services rendered (other than the Company’s
independent public accountants) or products sold to the Company or a Target do not reduce the amount of funds in the Trust Account
to below (i) $10.20 per Offering Share or (ii) such lesser amount per Offering Share held in the Trust Account as of the date of the
liquidation of the Trust Account, due to reductions in the value of the trust assets, in each case, net of the amount of interest
earned on the property in the Trust Account which may be withdrawn to pay taxes, except as to any claims by a third party (including
a Target) who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the
Company’s indemnity of the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933,
as amended. In the event that any such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not
be responsible to the extent of any liability for such third-party claims. The Sponsor shall have the right to defend against any
such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice
of the claim to the Sponsor, the Sponsor notifies the Company in writing that it shall undertake such defense.

 

     

     

    

 

February 10, 2022

Page 3

 

5. To
the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 1,500,000 Units within 45
days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number
of Founder Shares in the aggregate equal to 326,250. The forfeiture will be adjusted to the extent that the over-allotment option is not
exercised in full by the Underwriters so that the Initial Stockholders will own an aggregate of approximately 22.48% of the Company’s
issued and outstanding shares of Capital Stock after the Public Offering.

 

6. The
Initial Stockholders and each Insider hereby agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably injured
in the event of a breach by such Sponsor or an Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), 7(b), and
9 of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such breach and

(iii) the non-breaching
party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event
of such breach.

 

7. (a)
The Initial Stockholders and each Insider agrees that it, he or she shall not Transfer any Founder Shares until the earlier of (A) 180
days after the completion of the Company’s initial Business Combination or (B) subsequent to the Company’s initial Business
Combination, (x) if the last sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 90 days
after the consummation of the Company’s initial Business Combination, or (y) the date on which the Company completes a liquidation,
merger, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having
the right to exchange their shares of Common Stock for cash, securities or other property (the “Founder Shares Lock-up Period”).

 

(b) The
Initial Stockholders and each Insider agrees that it, he or she shall not Transfer any Private Placement Securities until 30 days after
the completion of a Business Combination (the “Private Securities Lock-up Period”, together with the Founder
Shares Lock-up Period, the “Lock- up Periods”).

 

(c) Notwithstanding the
provisions set forth in paragraphs 7(a) and (b), Transfers of the Founder Shares, Private Placement Securities and shares of Common
Stock issued or issuable upon the exercise of the Private Placement Securities that are held by the Initial Stockholders, any
Insider or any of their permitted transferees (that have complied with this paragraph 7(c)), are permitted (a) to the
Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors, any
affiliates of the Initial Stockholders, any members of the Initial Stockholders, or any of their affiliates, officers, directors,
direct and indirect equityholders; (b) in the case of an individual, by gift to a member of the individual’s immediate family,
to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such person, or to a
charitable organization; (c) in the case of an individual, transfers by virtue of laws of descent and distribution upon death of the
individual; (d) in the case of an individual, transfers pursuant to a qualified domestic relations order; (e) by private sales or
transfers made in connection with the consummation of a Business Combination at prices no greater than the price at which the shares
were originally purchased; (f) in case of an entity, as a distribution to its partners, shareholders, officers or members upon its
liquidation; and (g) by virtue of the laws of the State of Delaware or the Initial Stockholder’s limited liability company
agreement (or equivalent) upon dissolution of the Initial Stockholder; provided, however, that in the case of clauses (a) through
(g), these permitted transferees must enter into a written agreement agreeing to be bound by the restrictions herein.

 

     

     

    

 

February 10, 2022

Page 4

 

8. The
Initial Stockholders and each Insider represents and warrants that it, he or she has never been suspended or expelled from membership
in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended
or revoked. Each Insider’s biographical information furnished to the Company (including any such information included in the Prospectus)
is true and accurate in all respects and does not omit any material information with respect to the Insider’s background. The Initial
Stockholders and each Insider’s questionnaire furnished to the Company is true and accurate in all respects. The Initial Stockholders
and each Insider represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in
any jurisdiction; it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any
financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or she
is not currently a defendant in any such criminal proceeding.

 

9. Except
as disclosed in the Prospectus, neither the Initial Stockholders nor any Insider nor any affiliate of the Initial Stockholders or any
Insider, nor any director or officer of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting
fee, monies in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order
to effectuate the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is),
other than the following, none of which will be made from the proceeds held in the Trust Account prior to the completion of the initial
Business Combination: repayment of any loans and advances up to an aggregate of $1,000,000 made to the Company by the Sponsor; payment
to the Sponsor for office space, utilities and secretarial and administrative support for a total of $10,000 per month; reimbursement
for any out-of-pocket expenses related to identifying, investigating and consummating an initial Business Combination; and repayment of
loans, if any, and on such terms as to be determined by the Company from time to time, made by the Sponsor or any of the Company’s
officers or directors to finance transaction costs in connection with an intended initial Business Combination, provided, that,
if the Company does not consummate an initial Business Combination, a portion of the working capital held outside the Trust Account may
be used by the Company to repay such loaned or advanced amounts so long as no proceeds from the Trust Account are used for such repayment.
Up to $1,000,000 of any such loans or advances may be convertible into warrants at a price of $1.00 per warrant at the option of the lender.
Such warrants would be identical to the Private Warrants, including as to exercise price, exercisability and exercise period.

 

10. The Initial Stockholders
and each Insider has full right and power, without violating any agreement to which it is bound (including, without limitation, any non-competition
or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve
as an officer and/or a director of the Company and hereby consents to being named in the Prospectus as an officer and/or a director of
the Company.

 

     

     

    

 

February 10, 2022

Page 5

 

11. As
used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Capital
Stock” shall mean, collectively, the Common Stock and the Founder Shares; (iii) “Founder Shares”
shall mean the 2,501,250 shares of Common Stock held by the Sponsor and the Transferees (up to an aggregate of 326,250 shares of which
are subject to complete or partial forfeiture by the Sponsor and Transferees if the over- allotment option is not exercised in full by
the Underwriters) and 1,000,000 shares of Common Stock held by Transferee; (iv) “Initial Stockholders” shall
mean the Sponsor, each Transferee and any other holder of Founder Shares immediately prior to the Public Offering; (v) “Private
Placement Securities” shall mean, collectively, the 460,000 private placement units of the Company (“Private
Units”), or up to 505,000 Private Units pro rata to the extent that the over- allotment option in connection with the Public
Offering is exercised, with each Private Unit consisting of (and included in the definition of Private Placement Securities) one share
of Common Stock and one warrant (the a “Private Warrant”) of the Company (including each share of Common Stock
issuable upon exercise of each Private Warrant), each warrant of which shall entitle the Sponsor to purchase three quarters of one share
of Common Stock at an initial exercise price of $11.50, in a private placement transaction occurring simultaneously with the closing of
the Public Offering (and the closing of the over- allotment option, if applicable); (vi) “Public Stockholders”
shall mean the holders of securities issued in the Public Offering; (vii) “Trust Account” shall mean the trust
fund into which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Securities shall be deposited;
and (viii) “Transfer” shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell,
hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment
or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of
Section 16 of the Exchange Act and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b)
entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement
of any intention to effect any transaction specified in clause (a) or (b).

 

12. This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and
supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they
relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended,
modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed
by all parties hereto.

 

13. No party hereto may
assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of
the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to
transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Initial
Stockholders and each Insider and their respective successors, heirs and assigns and permitted transferees.

 

     

     

    

 

February 10, 2022

Page 6

 

14. Nothing
in this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto any right,
remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All
covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit
of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees.

 

15. This
Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

16. This
Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

17. This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties
hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall
be brought and enforced in the courts of the New York City, in the State of New York, and irrevocably submit to such jurisdiction and
venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such
courts represent an inconvenient forum.

 

18. Any
notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or
facsimile transmission.

 

	 	Sincerely,  
	 	 	 
	 	HNR ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Donald Goree
	 	Name: 	Donald Goree
	 	Title:	Chief Executive Officer
	 	 	 
	 	HNRAC SPONSORS, LLC 
	 	 	 
	 	By:	/s/ Donald W. Orr
	 	Name:	Donald W. Orr
	 	Title:	Manager

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