Document:

Exhibit 10.2

 

Execution Version

 

VOTING AGREEMENT

 

This Voting Agreement (this
 “Agreement”) is made as of April 26, 2022, by and among (i) Fortune Rise Acquisition Corporation,
a Delaware corporation (the “Parent”), (ii) VCV Power Sigma, Inc., a Delaware corporation (“Sigma”),
(iii) VCV Power Gamma, Inc., a Delaware corporation (“Gamma” and, together with Sigma, the “Companies”
and each individually, a “Company”) and (iii) the undersigned stockholders (the “Holders”)
of the Companies. Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the Merger
Agreement, as hereinafter defined.

 

WHEREAS,
on April 26, 2022, the Parent, Sigma Merger Sub Inc., a Delaware corporation and direct, wholly owned subsidiary of the Parent (“Sigma
Merger Sub”), Gamma Merger Sub Inc., a Delaware corporation and direct, wholly owned subsidiary of the Parent (“Gamma
Merger Sub” and, together with Sigma Merger Sub, “Merger Subs” and each, a “Merger
Sub”), the Companies, and Yuan (Jerry) Tang (“Jerry Tang”), solely in his capacity as the Stockholder
Representative thereunder and for certain limited purposes set forth in Section 5.13 thereof, entered into an agreement and plan
of merger (as amended from time to time in accordance with the terms thereof, the “Merger Agreement”), pursuant
to which (i) Sigma Merger Sub will merge with and into Sigma (the “Sigma Merger”), with Sigma surviving
the Sigma Merger as a wholly owned subsidiary of the Parent, and (ii) Gamma Merger Sub will merge with and into Gamma (the “Gamma
Merger” and, together with the Sigma Merger, the “Mergers”);

 

WHEREAS,
as a result of the Mergers, among others matters, (i) all of the issued and outstanding shares of capital stock of the Companies
as of immediately prior to the consummation of the Mergers (the “Closing”) will be cancelled and exchanged
for the right to receive shares of Parent Common Stock, subject to the deposit of the applicable Gamma Earnout Consideration Shares in
the Earnout Escrow Account in accordance with the terms and conditions of the Merger Agreement and the Escrow Agreement, (ii) each
Company Option shall be assumed by the Parent and automatically converted into an option to purchase Parent Common Shares and each share
of Company Restricted Stock will be automatically converted into the right to receive shares of Parent Common Stock, subject to the same
terms as were applicable prior to the Closing, and (iii) each outstanding Company Convertible Note will be assumed by the Parent
and convertible into shares of Parent Common Stock;

 

WHEREAS,
the Board of Directors of each of the Companies has (a) approved and declared advisable the Merger Agreement, the ancillary documents
(the “Ancillary Documents”), the Mergers and the other transactions contemplated by any such documents (collectively,
the “Transactions”), (b) determined that the Transactions are fair to and in the best interests of such
Company and its stockholders (the “Sigma Stockholders” or the “Gamma Stockholders,”
as applicable, and collectively, the “Company Stockholders”) and (c) recommended the approval and the
adoption by the applicable Company Stockholders of the Merger Agreement, the ancillary documents, the Mergers and the other Transactions;
and

 

WHEREAS,
as a condition to the willingness of the Parent to enter into the Merger Agreement, and as an inducement and in consideration therefor,
and in view of the valuable consideration to be received by each Holder thereunder, and the expenses and efforts to be undertaken by
the Parent and the Companies to consummate the Transactions, the Parent, the Companies, and each Holder desire to enter into this Agreement
in order for each Holder to provide certain assurances to the Parent regarding the manner in which such Holder is bound hereunder to
vote any shares of capital stock of either or both of the Companies which such Holder beneficially owns, holds or otherwise has voting
power (the “Shares”) during the period from and including the date hereof through and including the date on
which this Agreement is terminated in accordance with its terms (the “Voting Period”) with respect to the Merger
Agreement, the Mergers, the Ancillary Documents and the Transactions.

 

    1 

    

    

 

NOW,
THEREFORE, in consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth
below, and intending to be legally bound hereby, the parties hereby agree as follows:

 

1. Covenant to
Vote in Favor of Transactions. Each Holder agrees, with respect to all of the Shares:

 

(a) during
the Voting Period, at each meeting of the applicable Company Stockholders and in each written consent or resolutions of any of the Company
Stockholders in which such Holder is entitled to vote or consent, such Holder hereby unconditionally and irrevocably agrees to be present
for such meeting and vote (in person or by proxy), or consent to any action by written consent or resolution with respect to, as applicable,
the Shares (i) in favor of, and adopt, the Mergers, the Merger Agreement, the Ancillary Documents, and all of the other Transactions
(and any actions required in furtherance thereof), (ii) in favor of the other matters set forth in the Merger Agreement,
and (iii) in opposition to: (A) any and all other proposals (x) for the acquisition of the applicable Company, (y) that
could reasonably be expected to delay or impair the ability of the Companies to consummate the Mergers, the Merger Agreement or any of
the Transactions, or (z) which are in competition with or materially inconsistent with the Mergers, the Merger Agreement or the
Ancillary Documents; (B) other than as not prohibited by the Merger Agreement, any material change in (x) the present capitalization
of the applicable Company or any amendment of such Company’s certificate of incorporation or (y) such Company’s corporate
structure or business; or (C) any other action or proposal involving any person or entity (a “Person”)
that is intended, or would reasonably be expected, to prevent, impede, interfere with, delay, postpone or adversely affect in any material
respect the Transactions or would reasonably be expected to result in any of the conditions to the Closing under the Merger Agreement
not being fulfilled;

 

(b) to execute and deliver
all related documentation and take such other action in support of the Mergers, the Merger Agreement, any Ancillary Documents and any
of the Transactions as shall reasonably be requested by the Parent or the Companies in order to carry out the terms and provision of
this Section 1;

 

(c) not to deposit, and
to cause each Holder’s Affiliates not to deposit, except as provided in this Agreement, any Shares owned by such Holder or such
Holder’s Affiliates in a voting trust or subject any Shares to any arrangement or agreement with respect to the voting of such
Shares, unless specifically requested to do so by the Parent and the Companies in connection with the Merger Agreement, the Ancillary
Documents and any of the Transactions;

 

(d) except
as contemplated by the Merger Agreement or the Ancillary Documents, make, or in any manner participate in, directly or indirectly, a
 “solicitation” of “proxies” or consents (as such terms are used in the rules and regulations of the SEC)
or powers of attorney or similar rights to vote, or seek to advise or influence any Person with respect to the voting of, any shares
of the Company Common Stock in connection with any vote or other action with respect to the Transactions, other than to recommend that
the Company Stockholders vote in favor of adoption of the Merger Agreement and the Transactions and any other proposal the approval
of which is a condition to the obligations of the parties under the Merger Agreement (and any actions required in furtherance thereof
and otherwise as expressly provided by this Section 1); and

 

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(e) to refrain from exercising
any dissenters’ rights or rights of appraisal under applicable law at any time with respect to the Mergers, the Merger Agreement,
the Ancillary Documents and any of the Transactions, including pursuant to the General Corporation Law of the State of Delaware (as amended,
the “DGCL”).

 

2. Grant
of Proxy. Each Holder, with respect to all of the Shares, hereby irrevocably grants to, and appoints, the Companies and
any designee of the Companies (determined in the Companies’ sole discretion) as such Holder’s attorney-in-fact and proxy,
with full power of substitution and resubstitution, for and in such Holder’s name, to vote, or cause to be voted (including by
proxy or written consent, if applicable) any Shares owned (whether beneficially or of record) by such Holder. The proxy granted by each
Holder pursuant to this Section 2 is irrevocable and is granted in consideration of the Companies entering into this Agreement
and the Merger Agreement and incurring certain related fees and expenses. Each Holder hereby affirms that such irrevocable proxy is coupled
with an interest by reason of the Merger Agreement and, except upon the termination of this Agreement in accordance with Section 5(a),
is intended to be irrevocable. Each Holder agrees, until this Agreement is terminated in accordance with Section 5(a), to
vote such Holder’s Shares in accordance with Section 1 above.

 

3. Other
Covenants.

 

(a) Transfer
of Shares. Each Holder hereby agrees that during the Voting Period, such Holder shall not sell or assign, 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 liquidation with respect to 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 SEC promulgated thereunder with respect to, any Shares, or enter into any swap, short sale, hedge or other arrangement
that which is designed to, or which would (either alone or in connection with one or more events, developments or events (including the
satisfaction or waiver of any conditions precedent)), lead to or result in a sale or disposition of any Shares (each of the foregoing,
a “Transfer”); provided, however, that the foregoing shall not apply to any Transfer (i) if
Holder is a natural person, (A) to any person related to Holder by blood or adoption who is an immediate family member of Holder,
or by marriage or domestic partnership (a “Family Member”), or to a trust formed for the benefit of Holder
or any of Holder’s Family Members, (B) to Holder’s estate, following the death of Holder, by will, intestacy or other
operation of law, (C) as a bona fide gift to a charitable organization, (D) by operation of law pursuant to a qualified domestic
order or in connection with a divorce settlement or (E) to any partnership, corporation or limited liability company which is controlled
by Holder and/or by any such Family Member(s); (ii) if Holder is a corporation, partnership or other business entity, (A) to
another corporation, partnership or other business entity that is an affiliate (as defined under Rule 12b-2 of the Exchange Act)
of Holder, including investment funds or other entities under common control or management with Holder, (B) as a distribution or
dividend to equity holders (including, without limitation, general or limited partners and members) of Holder (including upon the liquidation
and dissolution of Holder pursuant to a plan of liquidation approved by Holder’s equity holders) or (C) as a bona fide gift
to a charitable organization; or (iii) if Holder is a trust, to any grantors or beneficiaries of the trust; provided that
any transferee of any Transfer of the type set forth in clauses (i) through (iii) must enter into a written agreement in form
and substance reasonably satisfactory to the Parent and the Companies agreeing to be bound by this Agreement prior to the occurrence
of such Transfer.

 

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(b) Changes to Shares.
In the event of a stock dividend or distribution, or any change in the shares of capital stock of a Company by reason of any stock dividend
or distribution, stock split, recapitalization, combination, conversion, exchange of shares or the like, the term “Shares”
when used with respect to such Company shall be deemed to refer to and include the Shares of such Company as well as all such stock dividends
and distributions and any securities into which or for which any or all of the Shares of such Company may be changed or exchanged or
which are received in such transaction. Each Holder agrees during the Voting Period to notify the Parent and the Companies promptly in
writing of the number and type of any additional Shares acquired by such Holder, if any, after the date hereof.

 

(c) Compliance with
Merger Agreement. Each Holder agrees during the Voting Period not to take or agree or commit to take any action that would make any
representation and warranty of such Holder contained in this Agreement inaccurate in any material respect. Each Holder further agrees
that such Holder shall use commercially reasonable efforts to cooperate with the Companies to effect the Mergers, all other Transactions,
the Merger Agreement, the Ancillary Documents and the provisions of this Agreement. During the Voting Period, each Holder shall not authorize
or permit any of its Representatives to, directly or indirectly, take any action that the Companies are prohibited from taking pursuant
to the Merger Agreement (unless the Parent shall have consented thereto).

 

(d) Registration Statement.
During the Voting Period, each Holder agrees to provide to the Parent, the Companies and their respective Representatives any information
regarding such Holder or the Shares that is reasonably requested by the Parent, the Companies or their respective Representatives for
inclusion in the Registration Statement.

 

(e) Publicity.
Each Holder shall not issue any press release or otherwise make any public statements with respect to the Transactions or the transactions
contemplated herein without the prior written approval of the Parent and the Companies. Each Holder hereby authorizes the Parent and
the Companies to publish and disclose in any announcement or disclosure required by the SEC, Nasdaq or the Registration Statement (including
all documents and schedules filed with the SEC in connection with the foregoing), such Holder’s identity and ownership of the Shares
and the nature of such Holder’s commitments and agreements under this Agreement, the Merger Agreement and any other Ancillary Documents.

 

4. Representations
and Warranties of Each Holder. Each Holder hereby represents and warrants to the Parent and the Companies as follows:

 

(a) Binding Agreement.
Each Holder (i) if a natural person, is of legal age to execute this Agreement and is legally competent to do so and (ii) if
not a natural person, is (A) a corporation, limited liability company, company or partnership duly organized and validly existing
under the laws of the jurisdiction of its organization and (B) has all necessary power and authority to execute and deliver this
Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. If a Holder is not a natural
person, the execution and delivery of this Agreement, the performance of its obligations hereunder and the consummation of the transactions
contemplated hereby by such Holder has been duly authorized by all necessary corporate, limited liability or partnership action on the
part of such Holder, as applicable. This Agreement, assuming due authorization, execution and delivery hereof by the other parties hereto,
constitutes a legal, valid and binding obligation of each Holder, enforceable against such Holder in accordance with its terms (except
as such enforceability may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other similar laws
of general applicability relating to or affecting creditor’s rights, and to general equitable principles). Each Holder understands
and acknowledges that the Parent is entering into the Merger Agreement in reliance upon the execution and delivery of this Agreement
by such Holder.

 

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(b) Ownership of Shares.
As of the date hereof, each Holder has beneficial ownership over the type and number of the Shares set forth under Holder’s name
on the signature page hereto, is the lawful owner of such Shares, has the sole power to vote or cause to be voted such Shares, and
has good and valid title to such Shares, free and clear of any and all pledges, mortgages, encumbrances, charges, proxies, voting agreements,
liens, adverse claims, options, security interests and demands of any nature or kind whatsoever, other than those imposed by this Agreement,
applicable securities Laws or the certificate of incorporation of a Company as applicable, as in effect on the date hereof. There are
no claims for finder’s fees or brokerage commission or other like payments in connection with this Agreement or the transactions
contemplated hereby payable by each Holder pursuant to arrangements made by such Holder. Except for the Shares and other securities of
the Companies set forth under a Holder’s name on the signature page hereto, as of the date of this Agreement, each Holder
is not a beneficial owner or record holder of any: (i) equity securities of any of the Companies, (ii) securities of the any
of the Companies having the right to vote on any matters on which the holders of equity securities of such Company may vote or which
are convertible into or exchangeable for, at any time, equity securities of such Company or (iii) options, warrants or other rights
to acquire from any of the Companies any equity securities or securities convertible into or exchangeable for equity securities of such
Company.

 

(c) No Conflicts.
No filing with, or notification to, any Governmental Entity, and no consent, approval, authorization or permit of any other Person is
necessary for the execution of this Agreement by each Holder, the performance of its obligations hereunder or the consummation by it
of the transactions contemplated hereby. None of the execution and delivery of this Agreement by each Holder, the performance of such
Holder’s obligations hereunder or the consummation by such Holder of the transactions contemplated hereby shall (i) conflict
with or result in any breach of the certificate of incorporation, bylaws or other comparable organizational documents of such Holder,
if applicable, (ii) result in, or give rise to, a violation or breach of or a default under any of the terms of any contract or
obligation to which such Holder is a party or by which such Holder or any of the Shares or such Holder’s other assets may be bound,
or (iii) violate any applicable Law or Order, except for any of the foregoing in clauses (i) through (iii) as would not
reasonably be expected to impair such Holder’s ability to perform its obligations under this Agreement in any material respect.

 

(d) No Inconsistent
Agreements. Each Holder hereby covenants and agrees that, except for this Agreement, such Holder (i) has not entered into, nor
will enter into at any time while this Agreement remains in effect, any voting agreement or voting trust with respect to the Shares inconsistent
with such Holder’s obligations pursuant to this Agreement, (ii) has not granted, nor will grant at any time while this Agreement
remains in effect, a proxy, a consent or power of attorney with respect to the Shares and (iii) has not entered into any agreement
or knowingly taken any action (nor will enter into any agreement or knowingly take any action) that would make any representation or
warranty of such Holder contained herein untrue or incorrect in any material respect or have the effect of preventing such Holder from
performing any of such Holder’s material obligations under this Agreement.

 

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5. Miscellaneous.

 

(a) Termination.
Notwithstanding anything to the contrary contained herein, this Agreement shall automatically terminate, and none of the Parent, the
Companies or the Holders shall have any rights or obligations hereunder, upon the earliest to occur of (i) the mutual written consent
of the Parent, the Companies, and the Holders, (ii) the Effective Time (following the performance of the obligations of the parties
hereunder required to be performed at or prior to the Effective Time), and (iii) the date of termination of the Merger Agreement
in accordance with its terms. The termination of this Agreement shall not prevent any party hereunder from seeking any remedies (at law
or in equity) against another party hereto or relieve such party from liability for such party’s breach of any terms of this Agreement.
Notwithstanding anything to the contrary herein, the provisions of this Section 5(a) shall survive the termination of
this Agreement.

 

(b) Binding Effect;
Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto
and their respective permitted successors and assigns. This Agreement and all obligations of each Holder are personal to such Holder
and may not be assigned, transferred or delegated by such Holder at any time without the prior written consent of the Parent and the
Companies, and any purported assignment, transfer or delegation without such consent shall be null and void ab initio. Each of the Parent
and the Companies may freely assign any or all of its rights under this Agreement, in whole or in part, to any successor entity (whether
by merger, consolidation, equity sale, asset sale or otherwise) without obtaining the consent or approval of such Holder.

 

(c) Third Parties.
Nothing contained in this Agreement or in any instrument or document executed by any party in connection with the transactions contemplated
hereby shall create any rights in, or be deemed to have been executed for the benefit of, any Person that is not a party hereto or thereto
or a successor or permitted assign of such a party.

 

(d) Governing Law;
Jurisdiction. This Agreement and any dispute or controversy arising out of or relating to this Agreement shall be governed by and
construed in accordance with the laws of the State of New York, without regard to the conflict of law principles thereof. All Actions
arising out of or relating to this Agreement shall be heard and determined exclusively in any state or federal court located in New York,
New York (or in any appellate courts thereof) (the “Specified Courts”). Each party hereto hereby (i) submits
to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising out of or relating to this Agreement brought
by any party hereto and (ii) irrevocably waives, and agrees not to assert by way of motion, defense or otherwise, in any such Action,
any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from
attachment or execution, that the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that this
Agreement or the transactions contemplated hereby may not be enforced in or by any Specified Court. Each party agrees that a final judgment
in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by Law. Each party irrevocably consents to the service of the summons and complaint and any other process in any other action or proceeding
relating to the transactions contemplated by this Agreement, on behalf of itself, or its property, by personal delivery of copies of
such process to such party at the applicable address set forth or referred to in Section 5(g). Nothing in this Section 5(d) shall
affect the right of any party to serve legal process in any other manner permitted by applicable law.

 

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(e) WAIVER OF JURY
TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A
TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 5(e).

 

(f) Interpretation.
The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting this
Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used shall include the corresponding masculine,
feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (ii) the term
 “including” (and with correlative meaning “include”) shall be deemed in each case to be followed by the words
 “without limitation”; (iii) the words “herein,” “hereto,” and “hereby” and other
words of similar import shall be deemed in each case to refer to this Agreement as a whole and not to any particular section or other
subdivision of this Agreement; and (iv) the term “or” means “and/or”. The parties have participated jointly
in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity or question of intent or interpretation arises,
this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring
or disfavoring any party by virtue of the authorship of any provision of this Agreement.

 

(g) Notices. All
notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered
(i) in person, (ii) by electronic mail or other electronic means, with affirmative confirmation of receipt, (iii) on delivery
or attempted delivery after being sent, if sent by reputable, nationally recognized overnight courier service that provides evidence
of delivery or attempted delivery, or (iv) five (5) Business Days after being mailed, if sent by registered or certified mail,
pre-paid and return receipt requested, in each case to the applicable party at the following addresses (or at such other address for
a party as shall be specified by like notice):

 

	If to the Parent, to:

    Fortune Rise Acquisition Corporation

    48 Bridge Street, Building A

    Metuchen, New Jersey

    Attention: Yuanmei Ma

    Email: sunnymei2005@gmail.com 
	with a copy (which will not constitute notice) to:

    Robinson & Cole LLP

    Chrysler East Building

    666 Third Avenue, 20th Floor

    New York, New York 10017

    Attention: Arila Zhou

    Email: azhou@rc.com

 

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	If to the Companies, to:

    VCV Power Sigma, Inc.

    VCV Power Gamma, Inc.

    1540 Broadway, Suite 1010

    New York, New York 10036

    Attn: Jerry Tang

    Email: jerry.tang@vcvdigital.com
	with a copy (which will not constitute notice) to:

    Day Pitney LLP

    605 Third Avenue, 31st Floor

    New York, New York 10158

    Attn: Scott W. Goodman, Richard D. Harris

    Email: sgoodman@daypitney.com

    rdharris@daypitney.com

 

	If
    to a Holder, to: the address set forth under such Holder’s name on the signature page hereto,
    with a copy (which will not constitute notice) to, if not the party sending the notice, each of the Parent and the Companies (and
    each of their copies for notices hereunder).

 

(h) Amendments and
Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally
or in a particular instance, and either retroactively or prospectively) only with the written consent of the Parent and Companies and
the Holders in the case of an amendment and by the party granting the waiver in the case of a waiver. No failure or delay by a party
in exercising any right hereunder shall operate as a waiver thereof. No waivers of or exceptions to any term, condition, or provision
of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term,
condition, or provision.

 

(i) Severability.
In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall be modified
or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable, and the validity,
legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby nor shall the validity,
legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon such determination that any term or
other provision is invalid, illegal or incapable of being enforced, the parties will substitute for any invalid, illegal or unenforceable
provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable, the intent and purpose
of such invalid, illegal or unenforceable provision.

 

(j) Specific Performance.
Each Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the event of a breach of
this Agreement by such Holder, money damages will be inadequate and the Parent and the Companies will have not adequate remedy at law,
and agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed by such Holder
in accordance with their specific terms or were otherwise breached. Accordingly, the Parent and the Companies shall be entitled to an
injunction or restraining order to prevent breaches of this Agreement by each Holder and to enforce specifically the terms and provisions
hereof, without the requirement to post any bond or other security or to prove that money damages would be inadequate, this being in
addition to any other right or remedy to which such party may be entitled under this Agreement, at law or in equity.

 

(k) Expenses. Each
party shall be responsible for its own fees and expenses (including the fees and expenses of investment bankers, accountants and counsel)
in connection with the entering into of this Agreement, the performance of its obligations hereunder and the consummation of the transactions
contemplated hereby; provided, that in the event of any action arising out of or relating to this Agreement, the non-prevailing party
in any such action will pay its own expenses and the reasonable documented out-of-pocket expenses, including reasonable attorneys’
fees and costs, reasonably incurred by the prevailing party.

 

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(l) No Partnership,
Agency or Joint Venture. This Agreement is intended to create a contractual relationship among each Holder, the Parent and the Companies,
and is not intended to create, and does not create, any agency, partnership, joint venture or any like relationship among the parties
hereto or among any other Company Stockholders entering into voting agreements with the Parent or the Companies. Unless a Holder advises
the Parent and Companies to the contrary, each Holder is not affiliated with any other holder of securities of the Parent entering into
a voting agreement with the Parent or the Companies in connection with the Merger Agreement and has acted independently regarding its
decision to enter into this Agreement. Nothing contained in this Agreement shall be deemed to vest in the Parent and the Companies any
direct or indirect ownership or incidence of ownership of or with respect to any Shares.

 

(m) Further Assurances.
From time to time, at another party’s request and without further consideration, each party shall execute and deliver such additional
documents and take all such further action as may be reasonably necessary or desirable to consummate the transactions contemplated by
this Agreement.

 

(n) Entire Agreement.
This Agreement (together with the Merger Agreement and the Ancillary Documents to the extent referred to herein) constitutes the full
and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement
relating to the subject matter hereof existing between the parties is expressly cancelled; provided, that, for the avoidance
of doubt, the foregoing shall not affect the rights and obligations of the parties under the Merger Agreement or any Ancillary Document.
Notwithstanding the foregoing, nothing in this Agreement shall limit any of the rights or remedies of the Companies or any of the obligations
of each Holder under any other agreement between such Holder and the Companies or any certificate or instrument executed by such Holder
in favor of the Companies, and nothing in any other agreement, certificate or instrument shall limit any of the rights or remedies of
the Companies or any of the obligations of such Holder under this Agreement.

 

(o) Counterparts; Facsimile.
This Agreement may also be executed and delivered by facsimile or electronic signature or by email in portable document format in two
or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

[Remainder of Page Intentionally Left
Blank; Signature Page Follows]

 

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IN
WITNESS WHEREOF, the parties have executed this Voting Agreement as of the date first written above.

 

	 	The Parent:
	 	 
	 	FORTUNE RISE ACQUISITION CORPORATION
	 	 	 
	 	By:	/s/
    Yuanmei Ma
	 	Name: 	Yuanmei Ma
	 	Title:	Chief Financial Officer
	 	 	 
	 	The Companies:
	 	 
	 	VCV POWER SIGMA, INC.
	 	 	 
	 	By:	/s/ Yuan (Jerry)
    Tang
	 	Name: 	Yuan (Jerry) Tang
	 	Title:	Chief Executive Officer
	 	 	 
	 	VCV POWER GAMMA, INC.
	 	 	 
	 	By:	/s/ Yuan (Jerry)
    Tang
	 	Name: 	Yuan (Jerry) Tang
	 	Title:	Chief Executive Officer
	 	 	 

[Signature Page to Voting Agreement]

 

    

     

    

 

	The Holder:	 
	 	 
	 	 	 
	 /s/
    Yuan (Jerry) Tang       	 
	YUAN (JERRY) TANG	 
	 	 
	 	 	 

Number
and Type of Shares:

 

	Shares of Sigma
    Common Stock:	2,600,000
    shares of Class A common stock, par value $0.0001 per share, including 1,200,000 shares subject to a repurchase condition and
    3,000,000 shares of Class B common stock, par value $0.0001 per share.
	Shares of Gamma Common
    Stock:	1,200,000
    shares of Class A common stock, par value $0.0001 per share, including 1,200,000 shares subject to a repurchase condition

 

	Options and
    Warrants:	N/A	 
	 	 	 

Address for Notices:

 

	Address:	Jerry
    Tang	 
	 	c/o VCV Power Gamma, Inc.

    VCV Power Sigma, Inc.
	 
	 	 1540
    Broadway, Suite 1010	 
	 	New York, New York 10036	 
	 	 	 

 

	Email:	Jerry.tang@vcvdigital.com        	 

 

[Signature Page to Voting Agreement]

 

    

     

    

 

	The Holder:	 
	 	 
	 	 	 
	 /s/
    Matthew Feast	 
	MATTHEW FEAST	 
	 	 
	 	 	 

Number
and Type of Shares:

 

	Shares of Sigma
    Common Stock:	879,781
    shares of Class A common stock, par value $0.0001 per share
	Shares of Gamma Common
    Stock:	2,030,000
    shares of Class A common stock, par value $0.0001 per share

 

	Options and
    Warrants:	N/A	 
	 	 	 

Address for Notices:

 

	Address:	Matthew
    Feast	 
	 	c/o VCV Power Gamma, Inc.	 
	 	VCV Power Sigma, Inc.

    1540 Broadway, Suite 1010 
	 
	 	New York, New York 10036	 
	 	 	 

 

	Email:	matt.feast@vcvdigital.com	 

 

[Signature Page to Voting Agreement]

 

    

     

    

 

	The Holder:	 
	 	 
	ELIA GLOBAL MANAGEMENT LLC
	 
	 	 	 
	By:	/s/ Yuan
    (Jerry) Tang	 
	Name: Yuan (Jerry) Tang	 
	Title: President	 

 

Number
and Type of Shares:

 

	Shares of Sigma
    Common Stock:	843,542
    shares of Class A common stock, par value $0.0001 per share
	Shares of Gamma Common
    Stock:	3,990,000
    shares of Class A common stock, par value $0.0001 per share, and 3,000,000 shares of Class B common stock, par value $0.0001
    per share

 

	Options and
    Warrants:	N/A	 
	 	 	 

Address for Notices:

 

	Address:	Elia
Global Management LLC	 
	 	 c/o Jerry Tang

    Matthew Feast
	 
	 	 1540
    Broadway, Suite 1010	 
	 	New York, New York 10036	 
	 	 	 

 

	Email:	jerry.tang@vcvdigital.com           	 

 

[Signature Page to Voting Agreement]Document

Exhibit 4.3

DESCRIPTION OF CAPITAL STOCK
The following description of the capital stock of BlackSky Technology Inc., a Delaware corporation (“us,” “our,” “we,” “BlackSky” or the “Company”) is a summary of the material terms of our common stock as specified in our amended and restated certificate of incorporation and amended and restated bylaws currently in effect. Because the following description is only a summary, it does not contain all of the information that may be important to you. For a complete description of matters set forth herein, you should refer to the amended and restated certificate of incorporation and the amended and restated bylaws, each previously filed with the Securities and Exchange Commission and incorporated by reference as an exhibit to the Annual Report on Form 10-K, as well as to the applicable provisions of the Delaware General Corporation Law (“DGCL”). 
General
The authorized capital stock of BlackSky consists of 400,000,000 shares, $0.0001 par value per share, of which: 300,000,000 shares are designated as Class A common stock (the “Class A Common Stock”) Common Stock; and 100,000,000 shares are designated as preferred stock.
Class A Common Stock
The amended and restated certificate of incorporation authorizes one class of common stock, the Class A Common Stock.
Dividend Rights
The DGCL permits a corporation to declare and pay dividends out of “surplus” or, if there is no “surplus”, out of its net profits for the fiscal year in which the dividend is declared and/or the preceding fiscal year. “Surplus” is defined as the excess of the net assets of the corporation over the amount determined to be the capital of the corporation by the board of directors. The capital of the corporation is typically calculated to be (and cannot be less than) the aggregate par value of all issued shares of capital stock. Net assets equals the fair value of the total assets minus total liabilities. The DGCL also provides that dividends may not be paid out of net profits if, after the payment of the dividend, capital is less than the capital represented by the outstanding stock of all classes having a preference upon the distribution of assets. Delaware common law also imposes a solvency requirement in connection with the payment of dividends.
Subject to preferences that may apply to any shares of our preferred stock outstanding at the time, the holders of our Class A Common Stock will be entitled to receive dividends out of funds legally available if our board of directors, in its discretion, determines to issue dividends and then only at the times and in the amounts that our board of directors may determine.
Voting Rights
Holders of our Class A Common Stock are entitled to one vote for each share held as of the record date for the determination of the stockholders entitled to vote on such matters, including the election and removal of directors, except as otherwise required by law. Under Delaware law, the right to vote cumulatively does not exist unless the certificate of incorporation specifically authorizes cumulative voting. Our amended and restated certificate of incorporation does not authorize cumulative voting and provides that no stockholder will be permitted to cumulate votes at any election of directors.
Right to Receive Liquidation Distributions
If we become subject to a liquidation, dissolution, or winding-up, the assets legally available for distribution to our stockholders would be distributable ratably among the holders of our Class A Common Stock and any participating series of our preferred stock outstanding at that time, subject to prior satisfaction of all outstanding debt and liabilities and the preferential rights of and the payment of liquidation preferences, if any, on any outstanding shares of our preferred stock.
 
Other Matters
All outstanding shares of our Class A Common Stock will be fully paid and nonassessable. Our Class A Common Stock will not be entitled to preemptive rights and will not be subject to redemption or sinking fund provisions.

Preferred Stock
Our board of directors are authorized, subject to limitations prescribed by the DGCL, to issue preferred stock in one or more series, to establish from time to time the number of shares to be included in each series, and to fix the designation, powers, preferences, and rights of the shares of each series and any of its qualifications, limitations, or restrictions, in each case without further vote or action by our stockholders. Our board of directors are empowered to increase or decrease the number of shares of any series of preferred stock, but not below the number of shares of that series then outstanding, without any further vote or action by our stockholders. Our board of directors are able to authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of Class A Common Stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring, or preventing a change in control of BlackSky and might adversely affect the market price of our Class A Common Stock and the voting and other rights of the holders of our Class A Common Stock. There are currently no plans to issue any shares of preferred stock.
Warrants
Public Warrants
As of December 31, 2021, there were an aggregate of 15,812,500 Public Warrants (“Public Warrants” and together with the Private Placement Warrants, as defined below, the “Warrants”) outstanding which entitle the holder to acquire Class A Common Stock. Each whole Public Warrant entitles the registered holder to purchase one share of Class A Common Stock at an exercise price of $11.50 per share, subject to adjustment as discussed in “—Anti-Dilution Adjustments” below. The Public Warrants are exercisable, subject to the registration conditions in the next paragraph and our obligation to have a registration statement declared effective covering the issuance of the shares issuable upon exercise of the warrants as discussed below. The Public Warrants will expire on September 9, 2026, at 5:00 p.m. New York City time, or earlier upon redemption or liquidation.
We are not be obligated to deliver any shares of Class A Common Stock pursuant to the exercise of a Public Warrant and we have no obligation to settle such Public Warrant exercise unless a registration statement under the Securities Act of 1933, as amended (the “Securities Act”) covering the issuance of the shares of Class A Common Stock issuable upon exercise of the Public Warrants is then effective and a current prospectus relating to those shares of Class A Common Stock is available, subject to satisfaction of our obligations described below with respect to registration. No Public Warrant is exercisable for cash or on a cashless basis, and we are not obligated to issue any shares to holders seeking to exercise their Warrants, unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of the exercising holder, or an exemption from registration is available. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a Public Warrant, the holder of such Public Warrant will not be entitled to exercise such Public Warrant and such Public Warrant may have no value and expire worthless.
A registration statement covering the issuance of the shares of Class A Common Stock issuable upon exercise of the warrants was declared effective on December 16, 2021 and we have agreed to maintain a current prospectus relating to those shares of Class A Common Stock until the warrants expire or are redeemed. Notwithstanding the above, if the Class A Common Stock is at the time of any exercise of a Warrant not listed on a national securities exchange such that it satisfies 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 Public 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 for the registration of the Class A Common Stock issuable upon exercise of the Warrants, but will use our best efforts to register or qualify the shares issuable upon the exercise of the Public Warrants under applicable blue sky laws to the extent an exemption is not available.
Private Placement Warrants
Except as set forth below, the terms of the Private Placement Warrants (the “Private Placement Warrants”), including the exercise period and expiration date, are identical to the Public Warrants. 4,162,500 of the Private Placement Warrants are exercisable at an exercise price of $11.50 per share and 4,162,500 of the Private Placement Warrants will not be exercisable unless and until the date that the Class A Common Stock reaches a trading price of $20.00 per share on the New York Stock Exchange (the “NYSE”) and are then exercisable at an exercise price of $20.00 per share, each subject to adjustment as discussed in “—Anti-Dilution Adjustments” below.
The Private Placement Warrants (including the Class A Common Stock issuable upon exercise of the Private Placement Warrants) are not redeemable by us for cash so long as they are held by the Sponsor or its permitted transferees except as set forth elsewhere in this prospectus. The Sponsor, or its permitted transferees, has the option to 

exercise the Private Placement Warrants on a cashless basis and will be entitled to certain registration rights. Otherwise, and except with the $20.00 exercise price for 4,162,500 Private Placement Warrants described above, the Private Placement Warrants have terms and provisions that are identical to those of the Public Warrants. If the Private Placement Warrants are held by holders other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by us and exercisable by the holders on the same basis as the Public Warrants.
If the Sponsor or its permitted transferees elect to exercise the Private Placement Warrants on a cashless basis, they would pay the exercise price by surrendering their Warrants for that number of shares of Class A Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A Common Stock underlying the Warrants, multiplied by the excess of the “fair market value” (defined below) over the exercise price of the Warrants by (y) the fair market value. The “fair market value” shall mean the average reported last sale price of the Class A Common Stock for the 10 trading days ending on the third trading day prior to the date on which the notice of exercise is sent to the holders of Warrants. If such holders remain affiliated with us, their ability to sell our securities in the open market will be significantly limited. We will 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 exercise their Warrants and sell the shares of Class A Common Stock 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.
Redemption of Warrants
Redemption of Warrants when the price per share of Class A Common Stock equals or exceeds $18.00.
Once the Warrants become exercisable, we may call the Warrants for redemption:
•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 (the “30-day redemption period”), to each Warrant holder;

•if, and only if, the closing price of Class A Common Stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which BlackSky sends the notice of redemption to the Warrant holders; and
•provided that there is an effective registration statement covered the shares of Class A Common Stock issuable upon exercise of the Warrants and a current prospectus relating thereto, available throughout the 30-day redemption period or we have elected to require the exercise of the Warrants on a “cashless basis” as described in “—Redemption Procedures and Cashless Exercise.”
 
 
 
 
 
If and when the Warrants become redeemable by us pursuant to the foregoing redemption method, we may exercise our redemption right even we are unable to register or qualify the underlying securities for sale under all applicable state securities laws.
We have established the last of the redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the Warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the Warrants, each Warrant holder will be entitled to exercise his, her or its Warrant prior to the scheduled redemption date. However, the price of the Class A Common Stock may fall below the $18.00 redemption trigger price as well as the $11.50 Warrant exercise price after the redemption notice is issued.
As described in “—Private Placement Warrants,” these redemption rights do not apply to Private Placement Warrants if at the time of the redemption, such Private Placement Warrants continue to be held by the Sponsor or its permitted transferees.

Redemption Procedures and Cashless Exercise
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.” The exercise price and number of shares of Class A Common Stock issuable upon exercise of the Warrants may be adjusted in certain circumstances including in the event of a stock dividend, recapitalization, reorganization, merger or consolidation. Additionally, in no event will we be required to net cash settle the Warrants. In determining whether to require all holders to exercise their Warrants on a “cashless basis”, our management will consider, among other factors, our cash position, the number of Warrants that are outstanding and the dilutive effect on our stockholders of issuing the maximum number of shares of Class A Common Stock issuable upon the exercise of the Warrants. In such event, each holder would pay the exercise price by surrendering the Warrants for that number of shares of Class A Common Stock equal to the quotient obtained by dividing (i) the product of the number of shares of Class A Common Stock underlying the Warrants, multiplied by the excess of the “fair market value” (defined below) over the exercise price of the Warrants by (ii) the fair market value. The “fair market value” shall mean the average reported last sale price of the Class A Common Stock as reported during the 10 trading day period ending on the trading day prior to the date on which notice of redemption is sent to the holders of the Warrants. If our management takes advantage of this option, the notice of redemption will contain the information necessary to calculate the number of shares of Class A Common Stock to be received upon exercise of the Warrants, including the “fair market value” in such case. Requiring a cashless exercise in this manner will reduce the number of shares to be issued and thereby lessen the dilutive effect of a Warrant redemption.
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), would beneficially own in excess of 9.8% (or such other amount as specified by the holder) of the shares of Class A Common Stock outstanding immediately after giving effect to such exercise.
 
Exercise of Warrants
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 subscription form duly executed, accompanied by full payment of the exercise price (or on a cashless basis, if applicable), by certified or official bank check payable to the warrant agent, for the number of Warrants being exercised. The Warrant holders do not have the rights or privileges of holders of Class A Common Stock and any voting rights until they exercise their Warrants and receive shares of Class A Common Stock. After the issuance of shares of Class A 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.
Anti-Dilution Adjustments
If the number of outstanding shares of Class A Common Stock is increased by a stock dividend payable in shares of Class A Common Stock, or by a split-up of shares of Class A Common Stock or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares of Class A Common Stock issuable on exercise of each Warrant will be increased in proportion to such increase in the outstanding shares of Class A Common Stock. A rights offering to holders of Class A Common Stock entitling holders to purchase shares of Class A Common Stock at a price less than the “fair market value” (as defined below) will be deemed a stock dividend of a number of shares of Class A Common Stock equal to the product of (i) the number of shares of Class A Common Stock 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 Common Stock) multiplied by (ii) one minus the quotient of (a) the price per share of Class A Common Stock paid in such rights offering divided by (b) the fair market value. For these purposes (i) if the rights offering is for securities convertible into or exercisable for Class A Common Stock, in determining the price payable for Class A Common Stock, 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) “fair market” value means the volume weighted average price of Class A Common Stock as reported during the 10 trading day period ending on the trading day prior to the first date on which the shares of Class A Common Stock 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, shall pay a dividend or make a distribution in cash, securities or other assets to the holders of Class A Common Stock on account of such shares of Class A Common Stock (or other shares of our capital stock into which the Warrants are convertible), other than (i) as described above or (ii) certain ordinary cash dividends, and in those other cases applicable per the terms of that certain Warrant Agreement, dated October 31, 2019, by and between the Company and the warrant agent named therein (the “Warrant Agreement”), then the Warrant exercise price will be decreased, effective immediately after the effective date of such extraordinary dividend, by the amount of cash and/or the fair market value of any securities or other assets paid on each share of Class A Common Stock in respect of such extraordinary dividend.

If the number of outstanding shares of our Class A Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Class A Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification or similar event, the number of shares of Class A Common Stock issuable on exercise of each Warrant will be decreased in proportion to such decrease in outstanding shares of Class A Common Stock.
Whenever the number of shares of Class A Common Stock 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 (i) the numerator of which will be the number of shares of Class A Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (ii) the denominator of which will be the number of shares of Class A Common Stock so purchasable immediately thereafter.
In case of any reclassification or reorganization of the outstanding shares of Class A Common Stock (other than those described above or that solely affects the par value of such shares of Class A Common Stock), or in the case of any merger or consolidation of BlackSky with or into another corporation (other than a consolidation or merger in which BlackSky is the continuing corporation and that does not result in any reclassification or reorganization of our outstanding shares of Class A Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of BlackSky as an entirety or substantially as an entirety in connection with which BlackSky is 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 shares of our Class A Common Stock immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock 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, provided, however, that 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 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 Securities Exchange Act of 1934 (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 outstanding shares of Class A Common Stock, 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 stockholder 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 common stock held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (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, provided, further, that if less than 70% of the consideration receivable by the holders of Class A Common Stock in such a transaction is payable in the form of Class A Common Stock in the successor entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if the registered holder of the Warrant properly exercises the Warrant within 30 days following public disclosure of such transaction, the Warrant exercise price will be reduced as specified in the Warrant Agreement based on the per share consideration minus the Black-Scholes Warrant 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 in order to determine and realize the option value component of the Warrant. This formula is to compensate the Warrant holder for the loss of the option value portion of the Warrant due to the requirement that the Warrant holder exercise the Warrant within 30 days of the event. We believe the Black-Scholes model is a commonly accepted pricing model for estimating fair market value where no quoted market price for an instrument is available.
Amendments
The Warrants were issued in registered form under a Warrant Agreement between Continental Stock Transfer & Trust Company, as warrant agent, and the Company. The Warrant Agreement provides that the terms of the Warrants may be amended without the consent of any holder to cure any ambiguity or correct any defective provision, or to add or change any other provisions with respect to matters or questions arising under the Warrant Agreement as the parties may deem necessary or desirable and that the parties deem do adversely affect the interest of the Warrant holders. All other 

modifications or amendments, including any amendment to increase the exercise price or shorten the exercise period and any amendment to the terms of only the Private Placement Warrants, requires the approval by the holders of at least 65% of the then-outstanding Public Warrants. We may lower the exercise price or extend the duration of the exercise period without the consent of the Warrant holders.
Form S-8 Registration Statement
We have filed a registration statement on Form S-8 under the Securities Act to register the shares of Class A Common Stock issued or issuable under our 2021 Equity Incentive Plan (the “2021 Plan”) and our 2021 Employee Stock Purchase Plan (the “ESPP”). The Form S-8 registration statement became effective automatically upon filing. The Form S-8 covers shares of Class A Common Stock underlying the 2021 Plan, which can be sold in the public market upon issuance, subject to Rule 144 limitations applicable to affiliates and vesting restrictions. We may file in the future one or more registration statements on Form S-8 under the Securities Act to register additional shares of Class A Common Stock issued or issuable under our 2021 Plan or our ESPP.
Anti-Takeover Provisions
Certain provisions of Delaware law, the amended and restated certificate of incorporation, and the amended and restated bylaws, which are summarized below, may have the effect of delaying, deferring, or discouraging another person from acquiring control of BlackSky. They are also designed, in part, to encourage persons seeking to acquire control of BlackSky to negotiate first with our board of directors.
Section 203 of the DGCL
We will be governed by the provisions of Section 203 of the DGCL. In general, Section 203 of the DGCL prohibits a public Delaware corporation from engaging in a “business combination” with an “interested stockholder” (as those terms are defined in Section 203 of the DGCL) for a period of three years after the date of the transaction in which the person became an interested stockholder, unless:
•either the merger or the transaction which resulted in the stockholder becoming an interested stockholder was approved by the board of directors prior to the time that the stockholder became an interested stockholder;
•upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding shares owned by directors who are also officers of the corporation and shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or
•at or subsequent to the time the stockholder became an interested stockholder, the merger was approved by our board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least  two-thirds of the outstanding voting stock which is not owned by the interested stockholder.
 
In general, Section 203 defines a “business combination” to include mergers, asset sales, and other transactions resulting in financial benefit to a stockholder and an “interested stockholder” as a person who, together with affiliates and associates, owns, or, within the prior three years, did own, 15% or more of our outstanding voting stock. These provisions may have the effect of delaying, deferring, or preventing changes in control of BlackSky.
Classified Board of Directors
The amended and restated certificate of incorporation provides that our board of directors is divided into three classes, designated Class I, Class II and Class III. The term of the initial Class I directors shall terminate on the date of the first annual meeting of stockholders, the term of the initial Class II directors shall terminate on the date of the second annual meeting of stockholders, and the term of the initial Class III directors shall terminate on the date of the third annual meeting of stockholders. At each annual meeting of stockholders, successors to the class of directors whose term expires at that annual meeting will be elected for a three-year term.
Removal of Directors
The amended and restated certificate of incorporation provides that stockholders may only remove a director for cause and only by a vote of no less than 66 2/3% of the voting power of the issued and outstanding capital stock entitled to vote in the election of directors, voting together as a single class.

Board of Directors vacancies
The amended and restated certificate of incorporation and amended and restated bylaws authorize only a majority of the remaining members of our board of directors, although less than a quorum, to fill vacant directorships, including newly created seats. In addition, subject to the rights of holders of any series of preferred stock, the number of directors constituting our board of directors will be permitted to be set only by a resolution of our board of directors. These provisions would prevent a stockholder from increasing the size of our board of directors and then gaining control of our board of directors by filling the resulting vacancies with its own nominees. This will make it more difficult to change the composition of our board of directors and will promote continuity of management.
Stockholder action; special meeting of stockholders
The amended and restated certificate of incorporation and amended and restated bylaws provides that stockholders may not take action by written consent but may only take action at annual or special meetings of the stockholders. As a result, a holder controlling a majority of our capital stock would not be able to amend the amended and restated bylaws, amend the amended and restated certificate of incorporation or remove directors without holding a meeting of the stockholders called in accordance with the amended and restated certificate of incorporation and amended and restated bylaws. The amended and restated certificate of incorporation and amended and restated bylaws further provide that special meetings of our stockholders may be called only by a majority of our board of directors, the Chairperson of our board of directors, or our Chief Executive Officer or President, thus prohibiting stockholder action to call a special meeting. These provisions might delay the ability of our stockholders to force consideration of a proposal or for stockholders controlling a majority of our capital stock to take any action, including the removal of directors.
Advance notice requirements for stockholder proposals and director nominations
The amended and restated certificate of incorporation provides that advance notice of stockholder nominations for the election of directors and of business to be brought by stockholders before any meeting of the stockholders will be given in the manner and to the extent provided in the bylaws. The amended and restated bylaws provide advance notice procedures for stockholders seeking to bring business before the annual meeting of stockholders or to nominate candidates for election as directors at the annual meeting of stockholders. The amended and restated bylaws also specify certain requirements regarding the form and content of a stockholder’s notice. These provisions might preclude stockholders from bringing matters before the annual meeting of stockholders or from making nominations for directors at the annual meeting of stockholders if the proper procedures are not followed. These provisions may also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s own slate of directors or otherwise attempting to obtain control of BlackSky.
No cumulative voting
The DGCL provides that stockholders are not entitled to cumulate votes in the election of directors unless a corporation’s certificate of incorporation provides otherwise. The amended and restated certificate of incorporation does not provide for cumulative voting and provides that no stockholder will be permitted to cumulate votes at any election of directors.
Amendment of amended and restated certificate of incorporation provisions
Any amendment of certain provisions in the amended and restated certificate of incorporation will require approval by holders of at least 66 2/3% of the voting power of the then outstanding voting securities entitled to vote thereon, voting together as a single class. These provisions include, among others, provisions related to the board composition, board removal rights, cumulative voting rights, and provisions related to stockholder action and advance notice, in each case as summarized above.
Authorized but Unissued Capital Stock
Delaware law does not require stockholder approval for any issuance of authorized shares. However, the listing requirements of the NYSE, which would apply if and so long as the Class A Common Stock remains listed on the NYSE, require stockholder approval of certain issuances equal to or exceeding 20% of the then outstanding voting power or then outstanding number of shares of Class A Common Stock. Additional shares that may be issued in the future may be used for a variety of corporate purposes, including future public offerings, to raise additional capital or to facilitate acquisitions.
One of the effects of the existence of unissued and unreserved common stock may be to enable our board of directors to issue shares to persons friendly to current management, which issuance could render more difficult or discourage an attempt to obtain control of BlackSky by means of a merger, tender offer, proxy contest or otherwise and 

thereby protect the continuity of management and possibly deprive stockholders of opportunities to sell their shares of Class A Common Stock at prices higher than prevailing market prices.
Dissenters’ Rights of Appraisal and Payment
Under the DGCL, with certain exceptions, our stockholders have appraisal rights in connection with a merger or consolidation of BlackSky. Pursuant to the DGCL, stockholders who properly request and perfect appraisal rights in connection with such merger or consolidation will have the right to receive payment of the fair value of their shares as determined by the Delaware Court of Chancery.
Stockholders’ Derivative Actions
Under the DGCL, any of our stockholders may bring an action in our name to procure a judgment in our favor, also known as a derivative action, provided that the stockholder bringing the action is a holder of our securities at the time of the transaction to which the action relates or such stockholder’s stock thereafter devolved by operation of law.
Exclusive Forum
The amended and restated certificate of incorporation provides that, unless otherwise consented to by us in writing, the Court of Chancery of the State of Delaware (or, if the Court of Chancery does not have jurisdiction, another State court in Delaware or the federal district court for the District of Delaware) will, to the fullest extent permitted by law be the sole and exclusive forum for the following types of actions or proceedings: (i) any derivative action or proceeding brought on our behalf; (ii) any action asserting a claim of breach of a duty (including any fiduciary duty) owed by any of our current or former directors, officers, stockholders, employees or agents to us or our stockholders; (iii) any action arising pursuant to any provision of the DGCL or the amended and restated certificate of incorporation or the amended and restated bylaws; (iv) any action asserting a claim against us or any of our current or former directors, officers, stockholders, employees or agents governed by the internal affairs doctrine of the State of Delaware, in each such case unless the Court of Chancery (or such other state or federal court located within the State of Delaware, as applicable) has dismissed a prior action by the same plaintiff asserting the same claims because such court lacked personal jurisdiction over an indispensable party named as a defendant therein. The amended and restated certificate of incorporation further provides that, unless otherwise consented to by us in writing to the selection of an alternative forum, the federal district courts of the United States will, to the fullest extent permitted by law, be the sole and exclusive forum for the resolution of any complaint against any person in connection with any offering of our securities, asserting a cause of action arising under the Securities Act. Any person or entity purchasing or otherwise acquiring any interest in our securities shall be deemed to have notice of and consented to this provision. These provisions may have the effect of discouraging lawsuits against BlackSky or our directors and officers.
Limitations on Liability and Indemnification of Directors and Officers
The DGCL authorizes corporations to limit or eliminate the personal liability of directors to corporations and their stockholders for monetary damages for breaches of directors’ fiduciary duties, subject to certain exceptions. Our amended and restated certificate of incorporation includes a provision that eliminates the personal liability of directors for monetary damages for any breach of fiduciary duty as a director to the fullest extent permitted by the DGCL as the same exists or as may hereafter be amended from time to time. The effect of these provisions is to eliminate our rights and the rights of our stockholders, through stockholders’ derivative suits on our behalf, to recover monetary damages from a director for breach of fiduciary duty as a director, including breaches resulting from grossly negligent behavior. However, exculpation does not apply to any director if the director has acted in bad faith, knowingly or intentionally violated the law, authorized illegal dividends or redemptions or derived an improper benefit from his or her actions as a director.
Our amended and restated certificate of incorporation provides that we must indemnify, to the fullest extent permitted by applicable law, any of our directors or officers who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (a “Proceeding”) by reason of the fact that he or she is or was our director or officer or is or was serving at our request as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with any such Proceeding. We are required to indemnify a person in connection with a Proceeding (or part thereof) initiated by such person only if the Proceeding (or part thereof) was, or is, authorized by the board of directors.
We have the power to indemnify, to the fullest extent permitted by applicable law, any of our directors, officers, employees or agents who was or is a party or is threatened to be made a party to any Proceeding by reason of the fact that he or she is or was our director, officer, employee or agent or is or was serving at our request as a director, officer, 

employee or agent of another corporation, partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with any such Proceeding.
We believe that these indemnification and advancement provisions and insurance are useful to attract and retain qualified directors and executive officers. The limitation of liability and indemnification provisions in our amended and restated certificate of incorporation and bylaws may discourage stockholders from bringing a lawsuit against directors for breach of their fiduciary duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might otherwise benefit us and our stockholders. In addition, your investment may be adversely affected to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions.
There is currently no pending material litigation or proceeding involving any of our directors, officers or employees for which indemnification is sought. 

Transfer Agent and Registrar
The transfer agent and registrar for the Class A Common Stock and warrant agent for the Warrants is Continental Stock Transfer & Trust Company. The transfer agent and registrar’s address is 1 State Street—30th Floor, New York, NY 10004.
Listing
The Class A Common Stock and Public Warrants are listed on the NYSE under the symbols “BKSY” and “BKSY.W”, respectively.

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