Document:

Exhibit 4.5

 

DESCRIPTION OF SECURITIES REGISTERED PURSUANT
TO SECTION 12 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

The following summary of the
material terms of the securities of Rice Acquisition Corp. II (“we,” “us,” “our” or the “company”)
is not intended to be a complete summary of the rights and preferences of such securities and is subject to and qualified by reference
to our amended and restated memorandum and articles of association incorporated by reference as an exhibit to our Annual Report on Form
10-K for the year ended December 31, 2021 and applicable Cayman Islands law. We urge you to read our amended and restated memorandum and
articles of association in their entirety for a complete description of the rights and preferences of our securities.

 

Certain Terms

 

Unless otherwise stated in
this exhibit, or the context otherwise requires, references to:

 

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

 

		●	“Companies
                                            Act” are to the Companies Act (As Revised) of the Cayman Islands as the same may be
                                            amended from time to time;

 

		●	“equity-linked
                                            securities” are to any securities of the company or any of its subsidiaries that are
                                            convertible into, or exchangeable or exercisable for, equity securities of the company or
                                            such subsidiary, including any securities issued by the company or any of its subsidiaries
                                            that are pledged to secure any obligation of any holder to purchase equity securities of
                                            the company or any of its subsidiaries, and including Opco Units;

 

		●	“founder
                                            units” are to the Class B Units of Opco initially issued in a private placement to
                                            our sponsor prior to our initial public offering (or the Class A Units of Opco into which
                                            such Class B Units will convert) and a corresponding number of our non-economic Class B ordinary
                                            shares;

 

		●	“initial
                                            shareholders” are to the holders of our founder units and sponsor units prior to our
                                            initial public offering;

 

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

 

		●	“Opco”
                                            are to Rice Acquisition Holdings II LLC;

 

		●	“Opco
                                            Units” are to the Class A Units and Class B Units of Opco;

 

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

 

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

 

		●	“public
                                            shares” are to the Class A ordinary shares sold as part of the units in our initial
                                            public offering and, unless otherwise stated herein, the 2,500 Class A ordinary shares forming
                                            part of the sponsor units, which collectively represent 100% of the economic interests in
                                            the company;

 

     

     

    

 

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

 

		●	“public
                                            warrants” are to the warrants sold as part of the units in our initial public offering;

 

		●	“Rice
                                            Investment Group” are to a multi-strategy fund controlled by the Rice family and other
                                            members of our management focused on a diverse array of energy related investments, including
                                            energy transition investments;

 

		●	“sponsor”
                                            are to Rice Acquisition Sponsor II LLC, a Delaware limited liability company. Our sponsor
                                            is controlled by its managing members, Daniel Joseph Rice, IV and J. Kyle Derham, and owned
                                            by members of our management and other individuals, and is an affiliate of Rice Investment
                                            Group; and

 

		●	“sponsor
                                            units” are to the 100 Class A Units of Opco and corresponding number of our non-economic Class B
                                            ordinary shares (which together will be exchangeable into Class A ordinary shares after
                                            our initial business combination on a one-for-one basis) and the 2,500 Class A
                                            ordinary shares purchased by our sponsor in a private placement prior to our initial public
                                            offering; and

 

		●	“warrants”
                                            are to our redeemable warrants, which includes the public warrants as well as the private
                                            placement warrants to the extent that they are no longer held by the initial purchasers of
                                            the private placement warrants or their permitted transferees.

 

General

 

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

 

Units

 

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

 

The Class A ordinary shares
and warrants comprising the units began separate trading on August 6, 2021. Once the Class A ordinary shares and warrants commenced separate
trading, holders had the option to continue to hold units or separate their units into the component securities. Holders need to have
their brokers contact our transfer agent in order to separate the units into Class A ordinary shares and warrants. No fractional warrants
were or will be issued upon separation of the units, and only whole warrants will trade.

 

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Additionally, the units will
automatically separate into their component parts and will not be traded after completion of our initial business combination.

 

Ordinary Shares

 

Upon
the closing of our initial public offering, there were 43,127,500 of our ordinary shares outstanding, consisting of:

 

		●	34,502,500
                                            Class A ordinary shares, including shares underlying the units issued as part of our initial
                                            public offering and shares included in sponsor units; and

 

		●	8,625,000
                                            Class B ordinary shares held by our initial shareholders.

 

Ordinary
shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders. Except as described
below, holders of Class A ordinary shares and holders of Class B ordinary shares will vote together as a single class on all matters
submitted to a vote of our shareholders except as required by law. Unless specified in our Articles, or as required by applicable provisions
of the Companies Act or applicable stock exchange rules, the affirmative vote of a majority of our ordinary shares that are voted is
required to approve any such matter voted on by our shareholders. Approval of certain actions will require a special resolution under
Cayman Islands law, being the affirmative vote of at least two-thirds of our ordinary shares that are voted, and pursuant to our Articles;
such actions include amending our Articles and approving a statutory merger or consolidation with another company.

 

Our board of directors is
divided into three classes, each of which will generally serve for a term of three years with only one class of directors being elected
in each year (except for those directors appointed prior to our first annual meeting of shareholders). 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 our initial business combination, only holders of our founder units will have the right to vote
on the election of directors. Holders of our public shares will not be entitled to vote on the election of directors during such time.
In addition, prior to the completion of an initial business combination, holders of a majority of our founder units may remove a member
of the board of directors for any reason. The provisions of our Articles governing the appointment or removal of directors prior to our
initial business combination may only be amended by a special resolution passed by not less than two-thirds of our ordinary shares who
attend and vote at our general meeting which shall include the affirmative vote of a simple majority of our Class B ordinary shares.

 

In accordance with the New
York Stock Exchange (“NYSE”) corporate governance requirements, we are not required to hold an annual meeting until no later
than one year after our first fiscal year end following our listing on the NYSE. There is no requirement under the Companies Act for us
to hold annual or general meetings to elect directors. We may not hold an annual meeting of shareholders to elect new directors prior
to the consummation of our initial business combination. Prior to the completion of an initial business combination, any vacancy on the
board of directors may be filled by a nominee chosen by holders of a majority of our founder units.

 

Our shareholders are entitled
to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor.

 

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

 

We will provide our public
shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business
days prior to the consummation of our initial business combination, including interest earned on the funds held in the trust account and
not previously released to us to pay franchise and income taxes of the company or Opco, if any, divided by the number of the then-outstanding
public shares and Class A Units of Opco (other than those held by Rice Acquisition Corp. II), subject to the limitations described herein.
The per share amount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting
discounts and commissions we will pay to the underwriters. Pursuant to the Amended and Restated Limited Liability Company Agreement of
Opco (the “Opco LLC Agreement”) and a letter agreement that our sponsor, officers and directors have entered into with us,
they have agreed that any founder units and sponsor units will not be entitled to redemption rights and they will waive any such redemption
rights for any public shares held by them in connection with the completion of our initial business combination. Unlike many blank check
companies that hold shareholder votes and conduct proxy solicitations in conjunction with their initial business combinations and provide
for related redemptions of public shares for cash upon completion of such initial business combinations even when a vote is not required
by law, if a shareholder vote is not required by applicable law or stock exchange listing requirements and we do not decide to hold a
shareholder vote for business or other reasons, we will, pursuant to our Articles, conduct the redemptions pursuant to the tender offer
rules of the Securities and Exchange Commission (the “SEC”), and file tender offer documents with the SEC prior to completing
our initial business combination. Our Articles require these tender offer documents to contain substantially the same financial and other
information about the initial business combination and the redemption rights as is required under the SEC’s proxy rules. If, however,
a shareholder approval of the transaction is required by applicable law or stock exchange listing requirements, or we decide to obtain
shareholder approval for business or other reasons, we will, like many blank check companies, offer to redeem shares in conjunction with
a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek shareholder approval, we will
complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law, which requires
the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company. However, the participation
of our sponsor, officers, directors, advisors or their affiliates in privately-negotiated transactions, if any, could result in the approval
of our initial business combination even if a majority of our public shareholders vote, or indicate their intention to vote, against such
initial business combination. For purposes of seeking approval of the majority of our issued and outstanding ordinary shares, non-votes
will have no effect on the approval of our initial business combination once a quorum is obtained. Our Articles will require that at least
five days’ notice will be given of any general meeting.

 

If we seek shareholder approval
of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to
the tender offer rules, our Articles provide that a public shareholder, together with any affiliate of such shareholder or any other person
with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate
of 15% of the shares sold in our initial public offering, which we refer to as the “Excess Shares,” without our prior consent.
However, we would not be restricting our shareholders’ ability to vote all of their shares (including Excess Shares) for or against
our initial business combination. Our shareholders’ inability to redeem the Excess Shares will reduce their influence over our ability
to complete our initial business combination, and such shareholders could suffer a material loss in their investment if they sell such
Excess Shares on the open market. Additionally, such shareholders will not receive redemption distributions with respect to the Excess
Shares if we complete our initial business combination. And, as a result, such shareholders will continue to hold that number of shares
exceeding 15% and, in order to dispose such shares would be required to sell their shares in open market transactions, potentially at
a loss.

 

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If we seek shareholder approval,
we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law, which
requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company. In such case,
our sponsor and each member of our management team have agreed to vote their founder units and public shares in favor of our initial business
combination. As a result, in addition to our initial shareholders’ founder units, we would need 12,937,501, or 37.5% (assuming all
issued and outstanding shares are voted), or 2,156,251, or 6.25% (assuming only the minimum number of shares representing a quorum are
voted), of the 34,500,000 public shares sold in our initial public offering to be voted in favor of an initial business combination in
order to have our initial business combination approved. Each public shareholder may elect to redeem its public shares irrespective of
whether it votes for or against the proposed transaction or votes at all.

 

Pursuant to our Articles,
if we do not complete our business combination within 24 months from the closing of our initial public offering, we will (i) cease all
operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter,
redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including
interest earned on the funds held in the trust account and not previously released to us to pay franchise and income taxes of the company
or Opco, if any (less up to $100,000 of interest to pay dissolution expenses), divided by the number of the then-outstanding public shares
and Class A Units of Opco (other than those held by us), which redemption will completely extinguish public shareholders’ rights
as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law; and (iii) as promptly
as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate
and dissolve, subject in each case, to our obligations under Cayman Islands law to provide for claims of creditors and the requirements
of other applicable law. Pursuant to the Opco LLC Agreement and a letter agreement that our sponsor, officers and directors have entered
into with us, they have agreed that any founder units held by them are not entitled to liquidating distributions from the trust account,
and they will not be entitled to rights to liquidating distributions for any founder units, if we fail to consummate an initial business
combination within 24 months from the closing of our initial public offering. However, if our sponsor, officers or directors hold public
shares, other than sponsor units, they will be entitled to liquidating distributions from the trust account with respect to any public
shares and the sponsor units if we fail to complete our initial business combination within the prescribed time frame. Our Articles provide
that, if we wind up for any other reason prior to the consummation of our initial business combination, we will follow the foregoing procedures
with respect to the liquidation of the trust account as promptly as reasonably possible but not more than ten business days thereafter,
subject to applicable Cayman Islands law.

 

In the event of a liquidation,
dissolution or winding up of the company after a business combination, our shareholders are entitled to share ratably in all assets remaining
available for distribution to them after payment of liabilities and after provision is made for each class of shares, if any, having preference
over the ordinary shares.

 

Our shareholders have no preemptive
or other subscription rights. There are no sinking fund provisions applicable to the ordinary shares, except that we will provide our
public shareholders with the opportunity to redeem their public shares for cash equal to their pro rata share of 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
us to pay franchise and income taxes of the company or Opco, if any, divided by the number of the then-outstanding public shares and Class
A units of Opco (other than those held by us), upon the completion of our initial business combination, subject to the limitations described
herein.

 

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Founder Units

 

The founder units include
our Class B ordinary shares and Class B Units of Opco (or the Class A Units of Opco into which such Class B Units convert in connection
with our initial business combination). The Class B Units of Opco are expected to convert into Class A Units of Opco in connection with,
or in certain circumstances described in the Opco LLC Agreement, at specified times after, our initial business combination one-for-one
basis, subject to adjustment for share splits, share capitalizations, reorganizations, recapitalizations and the like and subject to further
adjustment as provided herein. The founder units are exchangeable for our Class A ordinary shares after the time of our initial business
combination, subject to adjustment for share splits, share capitalizations, reorganizations, recapitalizations and the like and subject
to further adjustment as provided herein.

 

Together, the founder units
are similar to our Class A ordinary shares included in the units sold in our initial public offering, and holders of founder units have
the same shareholder rights as public shareholders, except that (i) only holders of the founder units have the right to vote on the election
of directors prior to our initial business combination, (ii) the founder units are subject to certain transfer restrictions, as described
in more detail below, (iii) pursuant to the Opco LLC Agreement and a letter agreement that our sponsor, officers and directors have entered
into with us, they have agreed (a) that any founder units and sponsor units will not be entitled to redemption rights, and they will waive
any such redemption rights for any public shares held by them, in connection with the completion of our initial business combination,
(b) that any founder units and sponsor units will not be entitled to redemption rights, and they will waive any such redemption rights
for any public shares held by them, in connection with a shareholder vote to approve an amendment to our Articles that would affect the
substance or timing of our obligation to redeem 100% of our public shares if we have not consummated an initial business combination within
24 months from the closing of our initial public offering, (c) that any founder units are not entitled to liquidating distributions from
the trust account, and they will not be entitled to rights to liquidating distributions for any founder units, if we fail to complete
our initial business combination within 24 months from the closing of our initial public offering, although they will be entitled to liquidating
distributions from the trust account with respect to any public shares and any sponsor units they hold if we fail to complete our initial
business combination within such time period and (d) in certain limited circumstances the Class B Units of Opco will have more limited
rights to current or liquidating distributions from us, (iv) the founder units consist of Class B Units of Opco (and any Class A Units
of Opco into which such Class B Units are converted) and a corresponding number of our Class B ordinary shares, (v) Class B Units will
be exchangeable (together with the cancellation of a corresponding number of our Class B ordinary shares) for Class A ordinary shares
after the time of our initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights,
as described herein, (vi) the Class A ordinary shares into which the founder units are exchangeable are subject to registration rights,
and (vii) because the founder units are not held through Rice Acquisition Corp. II, the founder units could be entitled to different after-tax
economics on a per unit basis compared to Class A ordinary shares on a per share basis (for example, as a result of Rice Acquisition Corp.
II becoming subject to corporate income tax following the business combination or differing tax basis in the founder units as compared
to the Class A ordinary shares). If we submit our initial business combination to our public shareholders for a vote, we will complete
our initial business combination only if a majority of the outstanding ordinary shares voted are voted in favor of the initial business
combination. Our initial shareholders have agreed to vote any founder units held by them and any public shares purchased during or after
our initial public offering in favor of our initial business combination.

 

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In the case that additional
Class A ordinary shares, or equity-linked securities, are issued or deemed issued in excess of the amounts sold in our initial public
offering and related to the closing of the business combination, the number of Class A Units of Opco into which the Class B Units of Opco
are expected to convert may be adjusted (unless the holders of a majority of the outstanding founder units agree to waive such adjustment
with respect to any such issuance or deemed issuance) so that, after all founder units have been exchanged for our Class A ordinary shares,
the aggregate number of our Class A ordinary shares received by holders in exchange for founder units would equal 20% of our total outstanding
ordinary shares upon completion of our initial public offering plus the number of Class A ordinary shares and equity-linked securities
issued or deemed issued in connection with our initial business combination, excluding any Class A ordinary shares or equity-linked
securities issued, or to be issued, to any seller in our initial business combination, and excluding the sponsor units. In addition, the
number of outstanding Class B ordinary shares will be adjusted through a share split or share capitalizations, reorganizations, recapitalizations
and the like so that the total number of outstanding Class B ordinary shares corresponds to the total number of Class A Units
of Opco outstanding (other than those held by Rice Acquisition Corp. II) plus the total number of Class A Units of Opco into which
the Class B Units of Opco are entitled to convert.

 

Our initial shareholders have
agreed not to transfer, assign or sell any founder units and any Class A ordinary shares acquired upon exchange of founder units until
the earlier of (i) one year after the completion of our initial business combination and (ii) subsequent to our initial business
combination, (a) if the closing price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share
splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day
period commencing at least 150 days after our initial business combination, or (b) the date on which we complete a liquidation,
merger, share exchange, reorganization or other similar transaction that results in all of our public shareholders having the right to
exchange their ordinary shares for cash, securities or other property.

 

Preference Shares

 

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

 

Warrants

 

As of the date hereof, we
have 8,625,000 public warrants and 10,900,000 private placement warrants outstanding.

 

Public Shareholders’ Warrants

 

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

 

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We will not be obligated to
deliver any Class A ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise
unless a registration statement under the Securities Act of 1933, as amended (the “Securities Act”), with respect to the Class A
ordinary shares underlying the warrants is then effective and a prospectus relating thereto is current, subject to our satisfying our
obligations described below with respect to registration, or a valid exemption from registration is available. No warrant will be exercisable
and we will not be obligated to issue a Class A ordinary share upon exercise of a warrant unless the Class A ordinary share
issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence
of the registered holder of the warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied
with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value
and expire worthless. In no event will we be required to net cash settle any warrant. In the event that a registration statement is not
effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase price for the unit
solely for the Class A ordinary share underlying such unit.

 

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

 

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Redemption of Warrants When the Price per Class A Ordinary Share
Equals or Exceeds $18.00

 

Once the
warrants become exercisable, we may call the warrants for redemption for cash (except as described herein with respect to the private
placement warrants):

 

		●	in
                                            whole and not in part;

 

		●	at
                                            a price of $0.01 per warrant;

 

		●	upon
                                            a minimum of 30 days’ prior written notice of redemption to each warrant holder
                                            (the “30-day redemption period”); and

 

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

 

We
will not redeem the warrants for cash unless a registration statement under the Securities Act covering the issuance of the Class A
ordinary shares issuable upon exercise of the warrants is then effective and a current prospectus relating to those Class A ordinary
shares is available throughout the 30-day redemption period. Any such exercise would not be on a “cashless” basis and
would require the exercising warrant holder to pay the exercise price for each warrant being exercised. If and when the warrants
become redeemable by us, we may exercise our redemption right even if we are unable to register or qualify the underlying securities
for sale under all applicable state securities laws.

 

If and when the warrants become
redeemable by us, we may exercise our redemption right even if we are unable to register or qualify the underlying securities for sale
under all applicable state securities laws.

 

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

 

Redemption of Warrants When the Price per Class A Ordinary
Share Equals or Exceeds $10.00

 

Once
the warrants become exercisable, we may redeem the outstanding warrants (except as described herein with respect to the private placement
warrants):

 

		●	in
                                            whole and not in part;

 

		●	at
                                            $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption
                                            provided that during such 30-day period holders will be able to exercise their warrants
                                            on a cashless basis prior to redemption and receive that number of Class A ordinary
                                            shares determined by reference to the table below, based on the redemption date and the “fair
                                            market value” of our Class A ordinary shares except as otherwise described below;
                                            provided, further, that if the warrants are not exercised on a cashless basis or otherwise
                                            during such 30-day period, we shall redeem such warrants for $0.10 per share;

 

    9

     

    

 

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

 

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

 

		●	if,
                                            and only if, there is an effective registration statement covering the issuance of Class A
                                            ordinary shares issuable upon exercise of the warrants and a current prospectus relating
                                            thereto available throughout the 30-day period after written notice of redemption is
                                            given.

 

Beginning on the date the
notice of redemption is given until the warrants are redeemed or exercised, holders may elect to exercise their warrants on a cashless
basis. The numbers in the table below represent the number of Class A ordinary shares that a warrant holder will receive upon such
cashless exercise in connection with a redemption by us pursuant to this redemption feature, based on the “fair market value”
of our Class A ordinary shares on the corresponding redemption date (assuming holders elect to exercise their warrants and such warrants
are not redeemed for $0.10 per warrant), determined for these purposes based on volume weighted average price of our Class A ordinary
shares during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of warrants,
and the number of months that the corresponding redemption date precedes the expiration date of the warrants, each as set forth in the
table below.

 

The share prices set forth
in the column headings of the table below will be adjusted as of any date on which the number of shares issuable upon exercise of a warrant
or the exercise price of a warrant is adjusted as set forth under the heading “—Anti-Dilution Adjustments” below. If
the number of shares issuable upon exercise of a warrant is adjusted, the adjusted share prices in the column headings will equal the
share prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the number of Class A ordinary
shares deliverable upon exercise of a warrant immediately prior to such adjustment and the denominator of which is the number of Class A
ordinary shares deliverable upon exercise of a warrant as so adjusted. The number of Class A ordinary shares in the table below shall
be adjusted in the same manner and at the same time as the number of Class A ordinary shares issuable upon exercise of a warrant.

 

    10

     

    

 

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

 

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

 

    11

     

    

 

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

 

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

 

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

 

Redemption Procedures

 

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

 

Anti-Dilution Adjustments

 

The share prices set forth
in the column headings of the table above shall be adjusted as of any date on which the number of shares issuable upon exercise of a warrant
is adjusted pursuant to the following three paragraphs. The adjusted share prices in the column headings shall equal the share prices
immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the number of shares deliverable upon exercise
of a warrant immediately prior to such adjustment and the denominator of which is the number of shares deliverable upon exercise of a
warrant as so adjusted. The number of shares in the table above shall be adjusted in the same manner and at the same time as the number
of shares issuable upon exercise of a warrant.

 

    12

     

    

 

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

 

In addition, if we, at any
time while the warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to all
or substantially all of the holders of the Class A ordinary shares on account of such Class A ordinary shares (or other securities
into which the warrants are convertible), other than (i) as described above, (ii) any cash dividends or cash distributions which,
when combined on a per share basis with all other cash dividends and cash distributions paid on the Class A ordinary shares during
the 365-day period ending on the date of declaration of such dividend or distribution does not exceed $0.50 (as adjusted to appropriately
reflect any other adjustments and excluding cash dividends or cash distributions that resulted in an adjustment to the exercise price
or to the number of Class A ordinary shares issuable on exercise of each warrant) but only with respect to the amount of the aggregate
cash dividends or cash distributions equal to or less than $0.50 per share, (iii) to satisfy the redemption rights of the holders
of Class A ordinary shares in connection with a proposed initial business combination, (iv) to satisfy the redemption rights
of the holders of Class A ordinary shares in connection with a shareholder vote to amend our amended and restated memorandum and
articles of association to modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the
right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do
not complete our initial business combination within 24 months from the closing of our initial public offering, (v) as a result
of the repurchase of Class A ordinary shares by us if a proposed initial business combination is presented to our shareholders for
approval, or (vi) in connection with the redemption of our public shares and any Class A Units of Opco (other than those held
by Rice Acquisition Corp. II) upon our failure to complete our initial business combination, then the warrant exercise price will be decreased,
effective immediately after the effective date of such event, by the amount of cash and/or the fair market value of any securities or
other assets paid on each Class A ordinary share in respect of such event.

 

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

 

    13

     

    

 

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

 

In addition, if (i) we
issue additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing
of our initial business combination at an issue price or effective issue price of less than $9.20 per ordinary share (with such issue
price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our sponsor
or its affiliates, without taking into account any founder units held by our sponsor or such affiliates, as applicable, prior to such
issuance) (the “Newly Issued Price”), (ii) 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 (iii) the volume weighted average trading price of our Class A
ordinary shares during the 20 trading day period starting on the trading day prior to the day on which we consummate our initial business
combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted
(to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption
trigger price will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price,
and the $10.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to the higher of the Market
Value and the Newly Issued Price.

 

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

 

    14

     

    

 

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 shareholder or warrant holder for the
purpose of (i) curing any ambiguity or correct any mistake, including to conform the provisions of the warrant agreement to the description
of the terms of the warrants and the warrant agreement set forth in this prospectus, or defective provision, (ii) amending the provisions
relating to cash dividends on ordinary shares as contemplated by and in accordance with the warrant agreement, (iii) adding or changing
any provisions with respect to matters or questions arising under the warrant agreement as the parties to the warrant agreement may deem
necessary or desirable and that the parties deem to not adversely affect the rights of the registered holders of the warrants or (iv)
to make any amendments that are necessary in the good faith determination of our board of directors (taking into account then existing
market precedents) to allow for the warrants to be classified as equity in our financial statements; provided that the approval by the
holders of at least 50% of the then-outstanding public warrants is required to make any change that adversely affects the interests
of the registered holders of public warrants and 50% of the registered holders of the private warrants to make any change to the terms
of the private warrants. You should review a copy of the warrant agreement, which will be filed as an exhibit to the registration statement
of which this prospectus is a part, for a complete description of the terms and conditions applicable to the warrants.

 

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

 

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

 

We have agreed that, subject
to applicable law, any action, proceeding or claim against us arising out of or relating in any way to the warrant agreement, 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 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.

 

    15

     

    

 

Private Placement Warrants

 

The private placement warrants
(including the Class A ordinary shares or Class A Units of Opco (and corresponding Class B ordinary shares) issuable upon
exercise of the private placement warrants) will not be transferable, assignable or salable until 30 days after the completion of
our initial business combination (except, among other limited exceptions, to our officers and directors and other persons or entities
affiliated with our sponsor), and they will not be redeemable by us so long as they are held by our sponsor or its permitted transferees.
Our sponsor or its permitted transferees, have the option to exercise the private placement warrants on a cashless basis. Except as described
below, the private placement warrants have terms and provisions that are identical to those of the warrants sold as part of the units
in our initial public offering, including as to exercise price, exercisability and exercise period. If the private placement warrants
are held by holders other than our sponsor or its permitted transferees, the private placement warrants will be redeemable by us and exercisable
by the holders on the same basis as the warrants included in the units sold in our initial public offering and will only be exercisable
for Class A ordinary shares. Upon the exercise of a warrant to purchase one Class A ordinary share, Rice Acquisition Corp. II
will exercise a corresponding warrant to acquire one Class A Unit of Opco.

 

If holders of the private
placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering his, her or its warrants
for that number of Class A ordinary shares or Class A Units of Opco (and corresponding Class B ordinary shares) equal to
the quotient obtained by dividing (i) the product of the number of Class A ordinary shares or Class A Units of Opco (and
corresponding Class B ordinary shares) underlying the warrants, multiplied by the excess of the “Sponsor fair market value”
over the exercise price of the warrants by (ii) the Sponsor fair market value. For these purposes, the “Sponsor fair market
value” shall mean the average reported closing price of the Class A ordinary shares for the 10 trading days immediately following
the date on which the notice of warrant exercise is sent to the warrant agent. The reason that we have agreed that these warrants will
be exercisable on a cashless basis so long as they are held by our sponsor and its permitted transferees is because it is not known at
this time whether they will be affiliated with us following a business combination. If they remain affiliated with us, their ability to
sell our securities in the open market will be significantly limited. We expect to have policies in place that restrict insiders from
selling our securities except during specific periods of time. Even during such periods of time when insiders will be permitted to sell
our securities, an insider cannot trade in our securities if he or she is in possession of material non-public information.

 

Accordingly, unlike public
shareholders who could exercise their warrants and sell the Class A ordinary shares received upon such exercise freely in the open
market in order to recoup the cost of such exercise, the insiders could be significantly restricted from selling such securities. As a
result, we believe that allowing the holders to exercise such warrants on a cashless basis is appropriate.

 

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

 

Our sponsor has agreed not
to transfer, assign or sell any of the private placement warrants (including the Class A ordinary shares or Class A Units of
Opco (and corresponding Class B ordinary shares) issuable upon exercise of any of these warrants) until the date that is 30 days
after the date we complete our initial business combination, except, among other limited exceptions, to our officers and directors and
other persons or entities affiliated with our sponsor. If our sponsor transfers our private placement warrants to any person other than
a permitted transferee, the transferred warrants will become identical to our public warrants, including that they will be subject to
redemption in certain circumstances, they generally will not be exercisable on a cashless basis, and they will be exercisable solely for
our Class A ordinary shares.

 

    16

     

    

 

Listing of Securities

 

Our units, Class A ordinary
shares and warrants are each traded on the NYSE under the symbols “RONI U”, “RONI” and “RONI WS,”
respectively.

 

Our Articles (Prior to the Completion of Our Initial Business
Combination)

 

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

 

Our initial shareholders and
their permitted transferees, if any, will participate in any vote to amend our Articles and will have the discretion to vote in any manner
they choose. Specifically, our Articles will provide, among other things, that:

 

		●	If
                                            we do not complete our initial business combination within 24 months from the closing of
                                            our initial public offering, we will (i) cease all operations except for the purpose of winding
                                            up; (ii) as promptly as reasonably possible but not more than ten business days thereafter,
                                            redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount
                                            then on deposit in the trust account, including interest earned on the funds held in the
                                            trust account and not previously released to us to pay franchise and income taxes of the
                                            company or Opco, if any (less up to $100,000 of interest to pay dissolution expenses), divided
                                            by the number of the then-outstanding public shares and Class A Units of Opco (other than
                                            those held by us), which redemption will completely extinguish public shareholders’
                                            rights as shareholders (including the right to receive further liquidating distributions,
                                            if any); and (iii) as promptly as reasonably possible following such redemption, subject
                                            to the approval of our remaining shareholders and our board of directors, liquidate and dissolve,
                                            subject in each case, to our obligations under Cayman Islands law to provide for claims of
                                            creditors and the requirements of other applicable law;

 

		●	Prior
                                            to or in connection with our initial business combination, we may not issue additional securities
                                            that would entitle the holders thereof to (i) receive funds from the trust account or
                                            (ii) vote as a class with our public shares (a) on our initial business combination
                                            or on any other proposal presented to shareholders prior to or in connection with the completion
                                            of an initial business combination or (b) to approve an amendment to our amended and
                                            restated memorandum and articles of association to (1) extend the time we have to consummate
                                            a business combination beyond 24 months from the closing of our initial public offering
                                            or (2) amend the foregoing provisions;

 

		●	Although
                                            we do not intend to enter into a business combination with a target business that is affiliated
                                            with our sponsor, our directors or our officers, including Rice Investment Group and/or one
                                            or more of its portfolio companies, we are not prohibited from doing so. In the event we
                                            enter into such a transaction, we, or a committee of independent directors, will obtain an
                                            opinion from an independent investment banking firm or another independent entity that commonly
                                            renders valuation opinions that such a business combination is fair to the company from a
                                            financial point of view;

 

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

 

    17

     

    

 

		●	The
                                            NYSE rules require that our initial business combination must occur with one or more target
                                            businesses that together have an aggregate fair market value of at least 80% net of the assets
                                            held in trust (net of amounts disbursed to management for working capital purposes and excluding
                                            the amount of any deferred underwriting discounts held in trust) at the time of the agreement
                                            to enter into the initial business combination;

 

		●	If
                                            our shareholders approve an amendment to our Articles that would modify the substance or
                                            timing of our obligation to provide holders of our Class A ordinary shares the right
                                            to have their shares redeemed in connection with our initial business combination or to redeem
                                            100% of our public shares if we do not complete our initial business combination within 24 months
                                            from the closing of our initial public offering, we will provide our public shareholders
                                            with the opportunity to redeem all or a portion of their ordinary shares upon such approval
                                            at a per-share price, payable in cash, equal to the aggregate amount then on deposit
                                            in the trust account, including interest earned on the funds held in the trust account and
                                            not previously released to us to pay franchise and income taxes of the Company or Opco, if
                                            any, divided by the number of the then-outstanding public shares and Class A Units
                                            of Opco (other than those held by Rice Acquisition Corp. II), subject to the limitations
                                            described herein; and

 

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

 

In addition, our Articles
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.

 

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

 

Certain Anti-Takeover Provisions of our Articles

 

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

 

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

 

 

18Exhibit 4.4

 

DESCRIPTION OF THE REGISTRANT’S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES

EXCHANGE ACT OF 1934

 

As of December 31, 2021, Pasithea Therapeutics Corp.
(the “Company”, “we” or “our”) had one class of securities, its common stock, registered under Section
12 of the Securities Exchange Act of 1934, as amended.\

 

General

 

The Company does not have a classified board of directors.
Pasithea is authorized to issue an aggregate of 500,000,000 shares. The authorized capital stock is divided into 495,000,000 shares of
Common Stock having a par value of $0.0001 per share and 5,000,000 shares of preferred stock having a par value of $0.0001 per share.

 

Common Stock

 

All shares of Common Stock of the Company are one
and the same class, identical in all respects and have equal rights, powers and privileges.

 

Voting. Except as otherwise provided for
by resolution of the board of directors, the holders of outstanding shares of Common Stock have the exclusive right to vote on all matters
requiring stockholder action. On each matter on which holders of Common Stock are entitled to vote, each outstanding share of such Common
Stock is entitled to one vote.

 

Dividends. Subject to the rights of holders
of any series of outstanding preferred stock, holders of shares of Common Stock have equal rights of participation in the dividends and
other distributions in cash, stock or property of the Company when, as and if declared thereon by the board of directors from time to
time out of assets or funds of the Company legally available therefor and shall have equal rights to receive the assets and funds of the
Company available for distribution to stockholders in the event of any liquidation, dissolution or winding up of the affairs of the Company,
whether voluntary or involuntary.

 

Liquidation. Subject to the rights of
holders of any series of outstanding preferred stock, holders of shares of Common Stock have equal rights to receive the assets and funds
of the Company available for distribution to stockholders in the event of any liquidation, dissolution or winding up of the affairs of
the Company, whether voluntary or involuntary.

 

Rights and Preferences. Holders of our
Common Stock will have no preemptive, conversion or subscription rights, and there will be no redemption or sinking funds provisions applicable
to our Common Stock. The rights, preferences and privileges of the holders of our Common Stock will be subject to, and may be adversely
affected by, the rights of the holders of share of any series of our preferred stock that we may designate and issue in the future.

 

Fully Paid and Nonassessable. All of our
outstanding shares of Common Stock are, and the shares of Common Stock to be issued upon exercise of the Warrants will be, fully paid
and nonassessable.

 

Preferred Stock

 

Shares of preferred stock of the Company may be issued
from time to time in one or more series, the shares of each series to have such voting powers, full or limited, if any, and such designations,
preferences and relative, participating, optional or other special rights, and qualifications, limitations or restrictions thereof, as
are stated and expressed in the resolution or resolutions providing for the issue of such series, adopted by the board of directors. The
resolutions providing for issuance of any series of preferred stock may provide that such series shall be superior to, rank equally with
or be junior to any other series of preferred stock to the extent permitted by law and the terms of any other series of preferred stock.

 

Anti-Takeover Provisions

 

Some provisions of Delaware law could make the following
transactions more difficult: an acquisition of us by means of a tender offer; an acquisition of us by means of a proxy contest or otherwise;
or the removal of our incumbent officers and directors. It is possible that these provisions could make it more difficult to accomplish
or could deter transactions that stockholders may otherwise consider to be in their best interests or in our best interests, including
transactions that provide for payment of a premium over the market price for our shares.

 

     

     

    

 

These provisions, summarized below, are intended to
discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to
acquire control of us to first negotiate with our board of directors. We believe that the benefits of the increased protection of our
potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages
of discouraging these proposals because negotiation of these proposals could result in an improvement of their terms.

 

Undesignated Preferred Stock. The ability
of our board of directors, without action by our stockholders, to issue up to 5,000,000 shares of undesignated preferred stock with voting
or other rights or preferences as designated by our board of directors could impede the success of any attempt to effect a change in control
of our company. These and other provisions may have the effect of deferring hostile takeovers or delaying changes in control or management
of our company.

 

Requirements for Advance Notification of Stockholder
Nominations and Proposals. Our bylaws establish advance notice procedures with respect to stockholder proposals to be brought
before a stockholder meeting and the nomination of candidates for election as directors, other than nominations made by or at the direction
of our board of directors of a committee of our board of directors.

 

Limitations on Liability and Indemnification
Matters

 

Our certificate of incorporation limits our directors’
liability to the fullest extent permitted under Delaware law, which prohibits our certificate of incorporation from limiting the liability
of our directors for the following:

 

	 	●	any breach of the director’s duty of loyalty to us or our stockholders;

 

	 	●	acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;

 

	 	●	unlawful payment of dividends or unlawful stock repurchases or redemptions; or

 

	 	●	any transaction from which the director derived an improper personal benefit.

 

If Delaware law is amended to authorize corporate
action further eliminating or limiting the personal liability of a director, then the liability of our directors will be eliminated or
limited to the fullest extent permitted by Delaware law, as so amended.

 

Our bylaws provide that we will indemnify our directors
and officers to the fullest extent permitted under Delaware law and that we shall have the power to indemnify our employees and agents
to the fullest extent permitted by law. Our bylaws also permit us to secure insurance on behalf of any officer, director, employee or
other agent for any liability arising out of his or her actions in this capacity, regardless of whether we would have the power to indemnify
such person against such expense, liability or loss under the DGCL.

 

We have entered into indemnification agreements with
our directors and executive officers, in addition to indemnification provided for in our bylaws. These agreements, among other things,
provide for indemnification of our directors and executive officers for expenses, judgments, fines and settlement amounts incurred by
such persons in any action or proceeding arising out of this person’s services as a director or executive officer or at our request.
We believe that these provisions in our certificate of incorporation and bylaws and indemnification agreements are necessary to attract
and retain qualified persons as directors and executive officers.

  

The limitation of liability and indemnification provisions
in our certificate of incorporation and bylaws may discourage stockholders from bringing a lawsuit against our directors for breach of
their fiduciary duties. They may also reduce the likelihood of derivative litigation against directors and officers, even though an action,
if successful, might benefit us and our stockholders. A stockholder’s investment may be harmed to the extent we pay the costs of
settlement and damage awards against directors and officers pursuant to these indemnification provisions.

 

Insofar as indemnification for liabilities under the
Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed
that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.
There is no pending litigation or proceeding naming any of our directors or officers as to which indemnification is being sought, nor
are we aware of any pending or threatened litigation that may result in claims for indemnification by any director or officer.

 

Listing

 

We have listed our Common Stock on The Nasdaq Capital
Market under the symbols “KTTA”.

 

Transfer Agent and Registrar

 

The transfer agent and registrar for our Common Stock
is VStock Transfer, LLC.

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