Document:

Exhibit 10.5

 

Anzu Special Acquisition Corp I

12610 Race Track Road, Suite 250

Tampa, FL 33626

 

December 30, 2020

 

Anzu SPAC GP I LLC

12610 Race Track Road, Suite 250

Tampa, FL 33626

 

	 	RE:	Securities Subscription Agreement

 

Ladies and Gentlemen:

 

Anzu Special Acquisition Corp I, a Delaware
corporation (the “Company”), is pleased to accept the offer Anzu SPAC GP I LLC, a Delaware limited liability
company (the “Subscriber” or “you”), has made to purchase 7,187,500 of the Company’s
Class B common stock (the “Shares”), $0.0001 par value per share (the “Class B Common Stock”),
up to 937,500 Shares of which are subject to complete or partial forfeiture by you if the underwriters of the initial public offering
(“IPO”) of the Company, do not fully exercise their over-allotment option (the “Over-allotment Option”).
For the purposes of this Agreement, references to “Common Stock,” are to, collectively, the Class B Common Stock
and the Company’s Class A common stock, $0.0001 par value per share (the “Class A Common Stock”). Pursuant
to the Company’s certificate of incorporation, as amended to the date hereof (the “Charter”), shares of
Class B Common Stock will convert into shares of Class A Common Stock on a one-for-one basis, subject to adjustment, upon the terms
and conditions set forth in the Charter. Unless the context otherwise requires, as used herein “Securities”
shall refer to the Shares and shall be deemed to include any shares of Class A Common Stock issued upon conversion of the Shares.
The terms (this “Agreement”) on which the Company is willing to sell the Shares to the Subscriber, and the Company
and the Subscriber’s agreements regarding such Shares, are as follows:

 

1.                 
Purchase of Shares. For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges
receiving in cash, the Company hereby sells and issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares
from the Company, subject to the forfeiture provisions of Section 3 below, on the terms and subject to the conditions set
forth in this Agreement. Concurrently with the Subscriber’s execution of this Agreement, the Company shall, at its option,
deliver to the Subscriber a certificate registered in the Subscriber’s name representing the Shares (the “Original
Certificate”), or effect such delivery in book-entry form.

 

2.                 
Representations, Warranties and Agreements.

 

2.1       
Subscriber’s Representations, Warranties and Agreements. To induce the Company to issue the Securities to the
Subscriber, the Subscriber hereby represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1       
No Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon
or made any recommendation or endorsement of the offering of the Securities.

 

     

     

    

 

2.1.2      
  No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of
the transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing
documents of the Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party, (iii) any law, statute,
rule or regulation to which the Subscriber is subject, or (iv) any agreement, order, judgment or decree to which the Subscriber
is subject.

 

2.1.3       
Organization and Authority. The Subscriber is a Delaware limited liability company, validly existing and in good
standing under the laws of Delaware and possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement. Upon execution and delivery by you, this Agreement will be a legal, valid and binding agreement of Subscriber,
enforceable against Subscriber in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to
general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

2.1.4       
Experience, Financial Capability and Suitability. Subscriber is: (i) sophisticated in financial matters and
is able to evaluate the risks and benefits of the investment in the Securities and (ii) able to bear the economic risk of its investment
in the Securities for an indefinite period of time because the Securities have not been registered under the Securities Act (as
defined below) and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration
is available. Subscriber is capable of evaluating the merits and risks of its investment in the Company and has the capacity to
protect its own interests. Subscriber must bear the economic risk of this investment until the Securities are sold pursuant to:
(i) an effective registration statement under the Securities Act or (ii) an exemption from registration available with respect
to such sale. Subscriber is able to bear the economic risks of an investment in the Securities and to afford a complete loss of
Subscriber’s investment in the Securities.

 

2.1.5       
Access to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had
the opportunity to ask questions of and receive answers from representatives of the Company concerning an investment in the Company,
as well as the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information
to verify the accuracy of all information so obtained. In determining whether to make this investment, Subscriber has relied solely
on Subscriber’s own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence
investigation and the information furnished pursuant to this paragraph. Subscriber understands that no person has been authorized
to give any information or to make any representations which were not furnished pursuant to this Section 2 and Subscriber
has not relied on any other representations or information in making its investment decision, whether written or oral, relating
to the Company, its operations and/or its prospects.

 

2.1.6        Regulation
D Offering. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a)
of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges the
sale contemplated hereby is being made in reliance on a private placement exemption to “accredited investors”
within the meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under applicable state
law.

 

    2 

     

    

 

2.1.7       
Investment Purposes. The Subscriber is subscribing for and purchasing the Securities solely for investment purposes,
for the Subscriber’s own account and not for the account or benefit of any other person, and not with a view towards the
distribution or dissemination thereof. Neither the Subscriber nor any of its officers, managers, employees, agents or members has
either directly or indirectly, including through a broker or finder (i) to its knowledge, engaged in any general solicitation,
or (ii) published any general advertisement in connection with the offer and sale of the Securities.

 

2.1.8       
Restrictions on Transfer; Shell Company. Subscriber understands the Securities are being offered in a transaction
not involving a public offering within the meaning of the Securities Act. Subscriber understands the Securities will be “restricted
securities” within the meaning of Rule 144(a)(3) under the Securities Act and Subscriber understands that the certificates
or book-entries representing the Securities will contain a legend in respect of such restrictions. If in the future the Subscriber
decides to offer, resell, pledge or otherwise transfer the Securities, such Securities may be offered, resold, pledged or otherwise
transferred only pursuant to: (i) registration under the Securities Act, or (ii) an available exemption from registration. Subscriber
agrees that if any transfer of its Securities or any interest therein is proposed to be made, as a condition precedent to any such
transfer, Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration
or an exemption, the Subscriber agrees not to offer, resell, pledge or otherwise transfer the Securities. Subscriber further acknowledges
that because the Company is a shell company, Rule 144 may not be available to the Subscriber for the resale of the Securities until
one year following consummation of the initial business combination of the Company, despite technical compliance with the requirements
of Rule 144 and the release or waiver of any contractual transfer restrictions.

 

2.1.9       
No Governmental Consents. No governmental, administrative or other third party consents or approvals are required,
necessary or appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.2         
Company’s Representations, Warranties and Agreements. To induce the Subscriber to purchase the Securities,
the Company hereby represents and warrants to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1       
Organization and Corporate Power. The Company is a Delaware corporation and is qualified to do business in every
jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial
condition, operating results or assets of the Company. The Company possesses all requisite corporate power and authority necessary
to carry out the transactions contemplated by this Agreement.

 

2.2.2        No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the
transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the Charter or bylaws of the
Company, (ii) any agreement, indenture or instrument to which the Company is a party, (iii) any law, statute, rule or
regulation to which the Company is subject, or (iv) any agreement, order, judgment or decree to which the Company is
subject.

 

    3 

     

    

 

2.2.3       
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Charter,
the Securities will be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant
to, the terms hereof and the Charter, the Subscriber will have or receive good title to the Securities, free and clear of all liens,
claims and encumbrances of any kind, other than (a) transfer restrictions hereunder and under the other agreements to which
the Securities may be subject, (b) transfer restrictions under federal and state securities laws, and (c) liens, claims or encumbrances
imposed due to the actions of the Subscriber.

 

2.2.4       
No General Solicitation. Neither the Company, nor any of its officers, directors, employees, agents or stockholders
has either directly or indirectly, including, through a broker or finder (i) engaged in any general solicitation, or (ii) published
any general advertisement in connection with the offer and sale of the Securities.

 

2.2.5       
No Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting
the Company which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated
by this Agreement or (ii) question the validity or legality of any transactions or seek to recover damages or to obtain other relief
in connection with any transactions.

 

2.2.6       
Authorization. The shares of Class A Common Stock issuable upon conversion of the Shares have been duly authorized
and reserved for issuance upon such conversion.

 

3.                 
Forfeiture of Shares.

 

3.1             
Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters
of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees
of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 937,500 Shares and pro rata based upon
the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and any
such transferees) will own an aggregate number of Shares (not including Shares issuable upon exercise of any warrants or any Common
Stock purchased by the Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding Common Stock immediately
following the IPO.

 

3.2             
Termination of Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 3,
then after such time the Subscriber (or successor in interest), shall no longer have any rights as a holder of such forfeited Shares,
and the Company shall take such action as is appropriate to cancel such forfeited Shares.

 

3.3              Share
Certificates. In the event an adjustment to the Original Certificates, if any, is required pursuant to this Section
3, then the Subscriber shall return such Original Certificates to the Company or its designated agent as soon as
practicable upon its receipt of notice from the Company advising Subscriber of such adjustment, following which a new
certificate (the “New Certificate”), if any, shall be issued in such amount representing the adjusted
number of Shares held by the Subscriber. The New Certificate shall be returned to the Subscriber as soon as practicable. Any
such adjustment for any uncertificated securities held by the Subscriber shall be made in book-entry form.

 

    4 

     

    

 

4.                 
Waiver of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this
Agreement, the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the
Company from the trust account which will be established for the benefit of the Company’s public stockholders and into which
substantially all of the proceeds of the IPO will be deposited (the “Trust Account”), in the event of a liquidation
of the Company upon the Company’s failure to timely complete an initial business combination. For purposes of clarity, in
the event the Subscriber purchases securities in the IPO or in the aftermarket, any Class A Common Stock so purchased shall be
eligible to receive any liquidating distributions by the Company. However, in no event will the Subscriber have the right to redeem
any shares of Common Stock held by it into funds held in the Trust Account upon the successful completion of an initial business
combination.

 

5.                 
Restrictions on Transfer.

 

5.1             
Securities Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly
known as an “Insider Letter”) to be dated on or prior to the closing date of the IPO by and between Subscriber
and the Company, Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Securities
unless, prior thereto (a) a registration statement on the appropriate form under the Securities Act and applicable state securities
laws with respect to the Securities proposed to be transferred shall then be effective or (b) the Company has received an opinion
from counsel reasonably satisfactory to the Company, that such registration is not required because such transaction is exempt
from registration under the Securities Act and the rules promulgated by the Securities and Exchange Commission thereunder and with
all applicable state securities laws.

 

5.2             
Lock-up. Subscriber acknowledges that the Securities will be subject to lock-up provisions (the “Lock-up”)
contained in the Insider Letter.

 

5.3             
Restrictive Legends. All certificates representing the Securities shall have endorsed thereon legends substantially
as follows:

 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN
MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.”

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE
SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP.”

 

    5 

     

    

 

5.4             
Additional Shares or Substituted Securities. In the event of the declaration of a stock dividend, the declaration
of a special dividend payable in a form other than Common Stock, a spin-off, a stock split, an adjustment in conversion ratio,
a recapitalization or a similar transaction affecting the Company’s outstanding Common Stock without receipt of consideration,
any new, substituted or additional securities or other property which are by reason of such transaction distributed with respect
to any Securities subject to this Section 5 or into which such Securities thereby become convertible shall immediately be
subject to this Section 5 and Section 3. Appropriate adjustments to reflect the distribution of such securities or
property shall be made to the number or class of Securities subject to this Section 5 and Section 3.

 

5.5             
Registration Rights. The Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from
the registration requirements of the Securities Act and will become freely tradable only after certain conditions are met or they
are registered pursuant to a registration rights agreement to be entered into with the Company in connection with the closing of
the IPO (the “Registration Rights Agreement”).

 

6.                 
Other Agreements.

 

6.1             
Further Assurances. The Subscriber agrees to execute such further instruments and to take such further action as
may reasonably be necessary to carry out the intent of this Agreement.

 

6.2             
Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be
in writing and delivered: (i) personally or sent by first class registered or certified mail, overnight courier service or facsimile
or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such
party or such other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic
mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such
party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered
personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one
(1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

6.3             
Entire Agreement. This Agreement, together with the Insider Letter and the Registration Rights Agreement, each substantially
in the form to be filed as an exhibit to the Registration Statement, embodies the entire agreement and understanding between the
Subscriber and the Company with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings
relating to the subject matter hereof.

 

6.4             
 Modifications and Amendments. The terms and provisions of this Agreement may be modified or amended only by written
agreement executed by all parties hereto.

 

    6 

     

    

 

6.5             
Waivers and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom
granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or
consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement,
whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which
it was given, and shall not constitute a continuing waiver or consent.

 

6.6             
Assignment. The rights and obligations under this Agreement may not be assigned by either party hereto without the
prior written consent of the other party.

 

6.7             
Benefit. All statements, representations, warranties, covenants and agreements in this Agreement shall be binding
on the parties hereto and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing
in this Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or entity
shall be regarded as a third-party beneficiary of this Agreement.

 

6.8             
Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance
with and governed by the laws of New York applicable to contracts wholly performed within the borders of such state, without giving
effect to the conflict of law principles thereof.

 

6.9             
Severability. In the event that any court of competent jurisdiction shall determine that any provision, or any portion
thereof, contained in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed
limited to the extent that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect.
In the event that such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions
of this Agreement shall nevertheless remain in full force and effect.

 

6.10           
No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or
remedy under this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right,
power or remedy of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto,
nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other
or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party
hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a
party not expressly required under this Agreement shall entitle the party receiving such notice or demand to any other or further
notice or demand in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand
to any other or further action in any circumstances without such notice or demand.

 

6.11         
   Survival of Representations and Warranties. All representations and warranties made by the parties hereto in this
Agreement or in any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution
and delivery hereof and any investigations made by or on behalf of the parties.

 

6.12           
No Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other
financial consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such
a way as to create any liability on the other. Each of the parties hereto agrees to indemnify and hold the other harmless from
any claim or demand for commission or other compensation by any broker, finder, financial consultant or similar agent claiming
to have been employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such
claim.

 

    7 

     

    

 

6.13           
Headings and Captions. The headings and captions of the various sections of this Agreement are for convenience of
reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

6.14           
Counterparts. This Agreement may be executed in one or more counterparts, all of which when taken together shall
be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered
to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is
delivered by facsimile transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page
were an original thereof.

 

6.15           
Construction. The words “include,” “includes,” and “including”
will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will
be construed to include any other gender, and words in the singular form will be construed to include the plural and vice versa,
unless the context otherwise requires. The words “this Agreement,” “herein,” “hereof,”
 “hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole and
not to any particular subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and
covenant contained herein will have independent significance. If any party hereto has breached any representation, warranty, or
covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to the
same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached will not detract
from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant.

 

6.16           
Mutual Drafting. This Agreement is the joint product of the Subscriber and the Company and each provision hereof
has been subject to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against
any party hereto.

 

7.                 
Voting and Tender of Shares. The Subscriber agrees to vote the Shares in favor of an initial business combination
that the Company negotiates and submits for approval to the Company’s stockholders and shall not seek redemption with respect
to any of the Shares.

 

Additionally, the Subscriber agrees not to tender any Shares
in connection with a tender offer presented to the Company’s stockholders in connection with an initial business combination
negotiated by the Company.

 

8.                 
Indemnification. Each party shall indemnify (such party, the “Indemnifying Party”) the other party
(such party, the “Indemnified Party”) and its respective officers, employees, and controlling persons to the
fullest extent permitted by law from and against any and all losses, damages, expenses (including reasonable attorneys’ fees
and expenses) or other liabilities resulting from or arising out of such party’s breach of any representation, warranty,
covenant or agreement in this Agreement. The foregoing indemnification rights apply so long as the action or failure to act by
the Indemnified Party does not constitute fraud, bad faith, willful misconduct or gross negligence. Notwithstanding any of the
foregoing to the contrary, indemnification protections will not be construed so as to relieve (or attempt to relieve) any Indemnified
Party of any liability (including liability under federal securities laws which, under certain circumstances, impose liability
even on persons that act in good faith), to the extent (but only to the extent) that such liability may not be waived, modified
or limited under applicable law, but will only be construed so as to effectuate the indemnification protections to the fullest
extent permitted by law.

 

[Signature Page Follows]

 

    8 

     

    

 

If the foregoing accurately sets forth our
understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

 

	 	Very truly Yours,
	 	 
	 	ANZU SPECIAL ACQUISITION CORP I

 

	 	By:	/s/ Whitney Haring-Smith
	 	Name:   	Whitney Haring-Smith
	 	Title:	Chief Executive Officer, Chief 
	 	Financial Officer and Secretary

 

	Accepted and agreed this 30th day of December, 2020	 
	 	 
	ANZU SPAC GP I LLC	 

 

	By:	/s/ Whitney Haring-Smith	 
	Name:   	Whitney Haring-Smith	 
	Title:	Managing Member	 

 

[Signature Page to Subscription Agreement]EXHIBIT 10.6 

 

SPONSOR WARRANTS PURCHASE AGREEMENT

 

THIS SPONSOR WARRANTS PURCHASE AGREEMENT,
dated as of [●], 2021 (this “Agreement”), is entered into by and between Anzu Special Acquisition Corp
I, a Delaware corporation (the “Company”), and Anzu SPAC GP I LLC, a Delaware limited liability company (the
 “Purchaser”).

 

WHEREAS, the Company intends to consummate
an initial public offering of the Company’s units (the “Public Offering”), each unit consisting of one
share of the Company’s Class A common stock, par value $0.0001 per share (a “Share”), and one-half of
one redeemable warrant, each whole warrant exercisable for one Share at an exercise price of $11.50 per Share, as set forth in
the Company’s registration statement on Form S-1 related to the Public Offering (the “Registration Statement”);
and

 

WHEREAS, the Purchaser now wishes to purchase
an aggregate of [●] warrants (or [●] warrants if the underwriters’ over-allotment option is exercised in full)
(the “Warrants”), each Warrant entitling the holder thereof to purchase one Share at an exercise price of $11.50
per Share.

 

NOW THEREFORE, in consideration of the mutual
promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1.              Authorization,
Purchase and Sale; Terms of the Warrants.

 

A.            Authorization
of the Warrants. The Company has duly authorized the issuance and sale of the Warrants to the Purchaser.

 

B.             Purchase
and Sale of the Warrants.

 

(i)                 On
the date of the consummation of the Public Offering or on such earlier date as may be mutually agreed upon by the Purchaser
and the Company (the “Initial Closing Date”), the Company shall issue and sell to the Purchaser, and the
Purchaser shall purchase from the Company, [●] Warrants at a price of $1.00 per Warrant for an aggregate purchase price
of $[●] (the “Purchase Price”), which shall be paid by wire transfer of immediately available funds
to the Company at least one business day prior to the Initial Closing Date in accordance with the Company’s wiring
instructions. On the Initial Closing Date, following the payment by the Purchaser of the Purchase Price by wire transfer of
immediately available funds to the Company, the Company, at its option, shall deliver a certificate evidencing the Warrants
purchased on such date duly registered in the Purchaser’s name to the Purchaser, or effect such delivery in book-entry
form.

 

    1

     

    

 

(ii)             
On the date of the consummation of the closing of the over-allotment option in connection with the Public Offering or on
such earlier time and date as may be mutually agreed by the Purchaser and the Company (each such date, an “Over-allotment
Closing Date,” and, each Over-allotment Closing Date (if any) together with the Initial Closing Date, being sometimes
referred to herein as a “Closing Date,” or the “Closing Dates”), the Company shall issue
and sell to the Purchaser, and the Purchaser shall purchase from the Company, up to [●] Warrants at a price of $1.00 per
warrant for an aggregate purchase price of up to $[●] (if the over-allotment option in connection with the Public Offering
is exercised in full) (the “Over-allotment Purchase Price”), which shall be paid by wire transfer of immediately
available funds to the Company in accordance with the Company’s wiring instructions. On the Over-allotment Closing Date,
upon the payment by the Purchaser of the Over-allotment Purchase Price by wire transfer of immediately available funds to the Company,
the Company shall, at its option, deliver a certificate evidencing the Warrants purchased on such date duly registered in the Purchaser’s
name to the Purchaser, or effect such delivery in book-entry form.

 

C.            Terms of the Warrants.

 

(i)                
Each Warrant shall have its terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent,
in connection with the Public Offering (a “Warrant Agreement”).

 

(ii)             
At the time of the closing of the Public Offering, the Company and the Purchaser shall enter into a registration rights
agreement (the “Registration Rights Agreement”) pursuant to which the Company will grant certain registration
rights to the Purchaser relating to the Warrants and the Shares underlying the Warrants.

 

Section 2.               Representations
and Warranties of the Company. As a material inducement to the Purchaser to enter into this Agreement and purchase the Warrants,
the Company hereby represents and warrants to the Purchaser (which representations and warranties shall survive the Closing Dates)
that:

 

A.            Organization and Corporate Power. The Company is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify
would reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of the Company.
The Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this
Agreement and the Warrant Agreement.

 

    2

     

    

 

B.             Authorization;
No Breach.

 

(i)                
 The execution, delivery and performance of this Agreement and the Warrants have been duly authorized by the Company as
of the Initial Closing Date. This Agreement constitutes a valid and binding obligation of the Company, enforceable in accordance
with its terms. Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement,
the Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of the
Closing Dates.

 

(ii)             
The execution and delivery by the Company of this Agreement and the Warrants, the issuance and sale of the Warrants, the
issuance of the Shares upon exercise of the Warrants and the fulfillment of, and compliance with, the respective terms hereof and
thereof by the Company, do not and will not as of the Closing Dates (a) conflict with or result in a breach of the terms, conditions
or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security interest, charge or encumbrance
upon the Company’s capital stock or assets under, (d) result in a violation of, or (e) require any authorization, consent,
approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative or governmental
body or agency pursuant to the certificate of incorporation of the Company or the bylaws of the Company (in effect on the date
hereof or as may be amended prior to completion of the contemplated Public Offering), or any material law, statute, rule or regulation
to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any filings
required after the date hereof under federal or state securities laws.

 

C.            Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant
Agreement, the Shares issuable upon exercise of the Warrants will be duly and validly issued, fully paid and nonassessable. Upon
issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will have good
title to the Warrants and the Shares issuable upon exercise of such Warrants, free and clear of all liens, claims and encumbrances
of any kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions
under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.

 

D.            Governmental Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental
authority is required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation
by the Company of any other transactions contemplated hereby.

 

E.             Regulation D Qualification. Neither the Company nor, to its knowledge, any of its affiliates, officers, directors
or beneficial stockholders of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated pursuant
to Rule 506(d) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”).

 

    3

     

    

 

Section 3.               Representations
and Warranties of the Purchaser. As a material inducement to the Company to enter into this Agreement and issue and sell the
Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties shall
survive the Closing Dates) that:

 

A.            Organization
and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

B.             Authorization; No Breach.

 

(i)                
This Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject
to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to
or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii)             
The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof
by the Purchaser does not and shall not as of the Closing Dates conflict with or result in a breach by the Purchaser of the terms,
conditions or provisions of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.

 

C.             Investment
Representations.

 

(i)                
The Purchaser is acquiring the Warrants and, upon exercise of the Warrants, the Shares issuable upon such exercise (collectively,
the “Securities”), for the Purchaser’s own account, for investment purposes only and not with a view towards,
or for resale in connection with, any public sale or distribution thereof.

 

(ii)             
The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D under the
Securities Act and the Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation
D under the Securities Act.

 

(iii)           
The Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions
from the registration requirements of the United States federal and state securities laws and that the Company is relying upon
the truth and accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth
herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iv)            
The Purchaser’s decision to enter into this Agreement was not the a result of any general solicitation or general
advertising within the meaning of Rule 502(c) under the Securities Act.

 

    4

     

    

 

(v)              
 The Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and
materials relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded
the opportunity to ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment
in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary
to make an informed investment decision with respect to the acquisition of the Securities.

 

(vi)            The
Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed
on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities
by the Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii)         
The Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or
any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder
or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement,
neither the Company nor any other person is under any obligation to register the Securities under the Securities Act or any state
securities laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Purchaser understands
that the Securities and Exchange Commission has taken the position that promoters or affiliates of a blank check company and their
transferees, both before and after an initial business combination, are deemed to be “underwriters” under the Securities
Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to the Securities
Act would not be available for resale transactions of the Securities despite technical compliance with the requirements of such
Rule, and the Securities can be resold only through a registered offering or in reliance upon another exemption from the registration
requirements of the Securities Act.

 

(viii)        
The Purchaser has such knowledge and experience in financial and business matters, knowledge of the high degree of risk
associated with investments in the securities of companies in the development stage such as the Company, is capable of evaluating
the merits and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities
in the amount contemplated hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current
financial needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized
by the investment in the Securities. The Purchaser can afford a complete loss of its investment in the Securities.

 

    5

     

    

 

Section 4.               Conditions of the Purchaser’s Obligations. The obligations of the Purchaser to purchase and pay for the Warrants
are subject to the fulfillment, on or before the Closing Dates, of each of the following conditions:

 

A.            Representations and Warranties. The representations and warranties of the Company contained in Section 2
shall be true and correct at and as of the Closing Dates as though then made.

 

B.             Performance.
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before the Closing Dates.

 

C.             No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

D.            Warrant
Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Purchaser.

 

Section 5.               Conditions
of the Company’s Obligations. The obligations of the Company to the Purchaser under this Agreement are subject to the
fulfillment, on or before the Closing Dates, of each of the following conditions:

 

A.            Representations and Warranties. The representations and warranties of the Purchaser contained in Section 3
shall be true and correct at and as of the Closing Dates as though then made.

 

B.             Performance.
The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchaser on or before the Closing Dates.

 

C.             No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have
been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

D.            Warrant
Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Company.

 

Section 6.               Termination.
This Agreement may be terminated at any time after December 31, 2021 upon the election by either the Company or the Purchaser
upon written notice to the other party if the closing of the Public Offering does not occur prior to such date.

 

Section 7.               Survival
of Representations and Warranties. All of the representations and warranties contained herein shall survive the Closing Dates.

 

    6

     

    

 

Section 8.               Definitions.
Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement.

 

Section 9.               Miscellaneous.

 

A.            Successors
and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or
on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto
whether so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this
Agreement, other than assignments by the Purchaser to affiliates thereof.

 

B.             Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall
be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C.             Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement.

 

D.            Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of example
rather than by limitation.

 

E.             Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed
by the laws of New York applicable to contracts wholly performed within the borders of such state, without giving effect to the
conflict of law principles thereof. The parties hereto irrevocably submit to the exclusive jurisdiction of any federal court sitting
in the Southern District of New York or any state court located in New York County, State of New York, over any suit, action or
proceeding arising out of or relating to this Agreement. To the fullest extent they may effectively do so under applicable law,
the parties hereto irrevocably waive and agree not to assert, by way of motion, as a defense or otherwise, any claim that they
are not subject to the jurisdiction of any such court, any objection that they may now or hereafter have to the laying of the
venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding
brought in any such court has been brought in an inconvenient forum.

 

F.             Amendments.
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed
by all parties hereto.

 

[Signature page follows]

 

    7

     

    

 

IN WITNESS WHEREOF, the parties hereto
have executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	ANZU SPECIAL ACQUISITION CORP I
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	ANZU SPAC GP I LLC
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title: 

 

[Signature Page
to Sponsor Warrants Purchase Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}]]