Document:

Exhibit 4.1

 

Seventh Supplemental
Indenture

 

Seventh Supplemental
Indenture (this “Seventh Supplemental Indenture”), dated as of September 17, 2021, between Fidelity National
Financial, Inc. (formerly known as Fidelity National Title Group, Inc.), a Delaware corporation (the “Company”),
and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), a national banking
association (the “Trustee”).

 

WHEREAS, the Company
and the Trustee entered into an Indenture (the “Original Indenture”), dated as of December 8, 2005, pursuant
to which the Company may issue Securities from time to time;

 

WHEREAS, the Company
and the Trustee entered into a First Supplemental Indenture (the “First Supplemental Indenture”), dated as of January 6,
2006, a Second Supplemental Indenture (the “Second Supplemental Indenture”), dated as of May 5, 2010, a Third
Supplemental Indenture (the “Third Supplemental Indenture”), dated as of June 30, 2014, a Fourth Supplemental
Indenture (the “Fourth Supplemental Indenture”), dated as of August 13, 2018, a Fifth Supplemental Indenture
(the “Fifth Supplemental Indenture”), dated as of June 12, 2020, and a Sixth Supplemental Indenture (the “Sixth
Supplemental Indenture”), dated as of September 15, 2020 (the Original Indenture, as amended by the First Supplemental
Indenture, the Second Supplemental Indenture and this Seventh Supplemental Indenture, the “Indenture”);

 

WHEREAS, on November 9,
2006, the Company changed its corporate name from “Fidelity National Title Group, Inc.” to “Fidelity National
Financial, Inc.”;

 

WHEREAS, the Company
has determined to issue, offer and sell a newly established series of Securities to be designated as the 3.200% Senior Notes due 2051
(the “Notes”) and desires to establish the matters set forth in Section 3.1 of the Indenture with respect to
such series in this Seventh Supplemental Indenture pursuant to Section 8.1(7) of the Original Indenture;

 

WHEREAS, the Company
desires to make certain additional amendments to the provisions of the Indenture pursuant to Section 8.1(5) thereof, which
amendments shall only apply to the Notes;

 

WHEREAS, the Original
Indenture provides that the Company, when authorized by or pursuant to a Board Resolution, and the Trustee, may enter into indentures
supplemental to the Original Indenture without the consent of any Holders to establish the form or terms of Securities of any series
as permitted by Sections 2.1 and 3.1 and to amend or supplement any provision contained in the Indenture, provided that such amendment
or supplement does not apply to any Outstanding Security issued prior to the date of such supplemental indenture and entitled to the
benefits of such provision; and

 

WHEREAS, all things
necessary to make the Notes, when executed by the Company and authenticated and delivered by the Trustee, issued upon the terms and subject
to the conditions set forth herein and in the Indenture and delivered as provided in the Indenture against payment therefor, valid, binding
and legal obligations of the Company according to their terms, and all actions required to be taken by the Company under the Indenture
to make this Seventh Supplemental Indenture a valid, binding and legal agreement of the Company, have been done.

 

     

     

    

 

NOW, THEREFORE,
for and in consideration of the premises, it is mutually covenanted and agreed as follows:

 

ARTICLE I

 

DEFINITIONS

 

Section 1.01
Definitions.

 

(a)           All
capitalized terms used herein and not otherwise defined below shall have the meanings ascribed thereto in the Indenture. Unless the context
otherwise requires all Section references herein refer to Sections in the Original Indenture, as heretofore amended and supplemented
by the First Supplemental Indenture and the Second Supplemental Indenture and as further amended and supplemented by this Seventh Supplemental
Indenture.

 

(b)           For
purposes hereof and of the Notes, the following definitions shall be inserted in Section 1.1 of the Indenture:

 

“Comparable
Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the Notes and that would be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes.

 

“Comparable
Treasury Price” of a Comparable Treasury Issue means, with respect to any Redemption Date: (x) the average of the Reference
Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest of the Reference Treasury Dealer Quotations;
or (y) if the Company obtains fewer than four (4) Reference Treasury Dealer Quotations, the arithmetic average of all Reference
Treasury Dealer Quotations so obtained; or (z) if the Company obtains only one Reference Treasury Dealer Quotation, such Reference
Treasury Dealer Quotation.

 

“Independent
Investment Banker” means one of the Reference Treasury Dealers, or its successor, selected by the Company.

 

“Reference
Treasury Dealers” means each of (i) BofA Securities, Inc. and J.P. Morgan Securities LLC (or their respective successors);
and (ii) any other primary U.S. government securities dealer in New York City (a “Primary Treasury Dealer”) selected
by the Company. If any of the foregoing ceases to be a Primary Treasury Dealer, the Company shall substitute another Primary Treasury
Dealer in its place.

 

“Reference
Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date for the Notes, the
average, as determined by the Company (or the Independent Investment Banker), of the bid and asked prices for the Comparable Treasury
Issue for the Notes, expressed in each case as a percentage of its principal amount, quoted in writing to the Company by such Reference
Treasury Dealer at 5:00 p.m., New York City time, on the third (3rd) Business Day preceding such Redemption Date.

 

“Treasury
Yield” means, with respect to any Redemption Date applicable to the Notes, the rate per annum equal to the semiannual equivalent
yield to maturity, computed as of the third (3rd) Business Day immediately preceding such Redemption Date, of the Comparable Treasury
Issue, assuming a price for the Comparable Treasury Issue, expressed as a percentage of its principal amount, equal to the applicable
Comparable Treasury Price for such Redemption Date.

 

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ARTICLE II

 

ESTABLISHMENT,
FORM AND TERM OF NOTES

 

Section 2.01 
Establishment of the Notes. In accordance with Section 3.1 of the Indenture, the Company hereby establishes the Notes as
a new series of its Securities pursuant to the Indenture. The Notes shall be issued initially in an aggregate principal amount of $450,000,000.

 

Section 2.02 
Terms and Conditions of the Notes. In accordance with Section 3.1 of the Indenture, the Notes are established with the following
terms (among others provided herein).

 

(a)           Title
of the Notes; CUSIP Number. The title of the Securities of the series is “3.200% Senior Notes due 2051.” The Notes shall
initially have the following CUSIP number: 31620RAL9.

 

(b)           Aggregate
Principal Amount of Notes. The limit upon the aggregate principal amount of the Notes which may be authenticated and delivered under
the Indenture (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of other
Notes pursuant to Sections 3.4, 3.5, 3.6, 8.6 or 10.7 of the Indenture or Appendix A to this Seventh Supplemental Indenture, and except
as provided in the last sentence of Section 3.1(c) of the Indenture) is four hundred fifty million Dollars ($450,000,000).
The limit upon the aggregate principal amount of the Notes may be increased by the Company without the consent of the holders of any
outstanding Notes.

 

(c)           Maturity
Date of Notes. The date on which the principal of the Notes is payable, unless the Notes are theretofore accelerated or redeemed
pursuant to the Indenture, shall be September 17, 2051.

 

(d)           Interest
Rate. The rate at which the Notes shall bear interest shall be 3.200% per annum. Interest shall be computed on the basis of a 360-day
year of twelve 30-day months and shall be payable semi-annually in arrears in accordance herewith and with the Indenture.

 

(e)           Additional
Amounts. No Additional Amounts shall be payable on or in respect of the Notes.

 

(f)            Interest
Payment Dates. Interest on the Notes shall accrue on the principal amount from, and including, the most recent date to which interest
has been paid or provided for (or, if there is no existing default in the payment of interest and if the Note is authenticated between
a Regular Record Date and the next Interest Payment Date, from such Interest Payment Date) or, if no interest has been paid, from, and
including, the issue date of the Notes, in each case to, but excluding, the next Interest Payment Date. The Interest Payment Dates of
the Notes shall be March 17 and September 17 of each year. The initial Interest Payment Date shall be March 17, 2022.
The Regular Record Date corresponding to any Interest Payment Date occurring on March 17 shall be the immediately preceding March 2,
and the Regular Record Date corresponding to any Interest Payment Date occurring on September 17 shall be the immediately preceding
September 2. Interest payable on the Notes on an Interest Payment Date shall be payable to the persons in whose name the Notes are
registered at the close of business on the Regular Record Date for such Interest Payment Date, except that interest payable on September 17,
2051 shall be payable to the persons to whom principal is payable on such date; provided, however, that Defaulted Interest shall be payable
as provided in the Indenture.

 

(g)           Place
of Payment. The Place of Payment where the principal of and interest on the Notes shall be payable is at the agency of the Trustee
maintained for that purpose at the office of The Bank of New York Mellon Trust Company, N.A., 10161 Centurion Parkway North, Jacksonville,
Florida, 32256; provided, however, that payment of interest, other than on September 17, 2051, may be made at the option of the
Company by check mailed to the address of the person entitled thereto as such address shall appear in the Register; and provided further
that the Depository, or its nominee, as holder of Notes in global form, shall be entitled to receive payments of interest and principal
by wire transfer of immediately available funds.

 

    3

     

    

 

(h)           Redemption.
The Notes shall be subject to redemption by the Company in whole or in part in the manner described herein. There shall be no obligation
of the Company to redeem or purchase the Notes pursuant to any sinking fund or analogous provisions, or to repay any of the Notes prior
to September 17, 2051 at the option of a Holder thereof. Article 11 of the Indenture shall not apply to the Notes.

 

(i)            Registration
and Form. The Notes shall be issued in fully registered form as Registered Securities without interest coupons (and shall in no event
be issuable in the form of Bearer Securities) in denominations of two thousand Dollars ($2,000) or any amount in excess thereof which
is an integral multiple of one thousand Dollars ($1,000). The Notes shall initially be issued in global form in the form attached hereto
as Exhibit A. The Notes shall be denominated, and all payments thereon shall be made, in Dollars. The Depository Trust Company
shall be the initial Depository for the Notes. The Notes shall be transferred only in accordance with the provisions of Annex A of this
Seventh Supplemental Indenture and the Indenture.

 

(j)            Registrar
and Paying Agent. The Company appoints the Trustee as Registrar and Paying Agent in connection with the Notes.

 

ARTICLE III

 

REDEMPTION

 

Section 3.01 
Redemption. (a) Prior to March 17, 2051, the Notes shall be redeemable, at the option of the Company, at any time in
whole, or from time to time in part, at a Redemption Price, payable in cash, equal to the greater of: (x) 100% of the principal
amount of the Notes to be redeemed; and (y) the sum of the present values of the remaining (as of the Redemption Date) scheduled
interest and principal payments on the Notes (or portions thereof) to be redeemed (excluding interest accrued to such Redemption Date),
discounted to such Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable
Treasury Yield plus 25 basis points, in each case plus unpaid interest that has accrued to, but excluding, such Redemption Date and (b) on
or after March 17, 2051, the Notes shall be redeemable, at the option of the Company, at any time in whole, or from time to time
in part, at a Redemption Price, payable in cash, equal to 100% of the principal amount of the Notes to be redeemed, plus unpaid interest
that has accrued to, but excluding the Redemption Date. The Trustee shall not be responsible for calculating the Redemption Price. If
such Redemption Date is after a Regular Record Date for the Notes and on or before the related Interest Payment Date, then the payment
of interest becoming due on such Interest Payment Date shall be payable, on such Interest Payment Date, to the Holder of record at the
close of business on such Regular Record Date, and the Redemption Price shall not include unpaid interest that has accrued to, but excluding,
such Redemption Date. The Notes shall not be redeemable by the Company except as provided in the preceding sentences. The Notes shall
not be redeemable at the election of any Holder, except to the extent that the principal of, and interest on, the Notes may be accelerated
in accordance with Article 5 of the Indenture.

 

Section 3.02 
Applicability of Article X. Article 10 of the Indenture shall apply to the Notes and shall be amended as provided below
with respect to the Notes:

 

(a)           The
phrase “at least 60 days prior to the Redemption Date” in Section 10.2 of the Indenture shall be replaced with the phrase
 “at least 30 days prior to the Redemption Date.”

 

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(b)           The
phrase “equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof” in Section 10.3
of the Indenture shall be replaced with the phrase “equal to any authorized denomination for Securities of that series.”

 

(c)           The
phrase “in such manner as the Trustee shall deem fair and appropriate” in Section 10.3 of the Indenture shall be replaced
with the phrase “in accordance with the procedures of DTC.”

 

(d)           The
first paragraph of Section 10.4 of the Indenture is deleted in its entirety and replaced with the following paragraph:

 

“Notice of Redemption.
Notice of redemption shall be given in the manner provided in Section 1.6 of the Indenture not less than 15 days nor more than 60
days prior to the Redemption Date to the Holders of the Securities to be redeemed (except that such notice of redemption may be given
more than 60 days prior to the Redemption Date if the notice is issued in connection with a satisfaction, discharge and/or defeasance
pursuant to Article 4 of the Indenture).”

 

(e)           The
following sentence shall be added to the end of Section 10.4 of the Indenture:

 

“Any redemption and
notice thereof pursuant to this Indenture may, in the Company’s discretion, be subject to the satisfaction of one or more conditions
and, at the Company’s discretion, the Redemption Date may be delayed until such time as any or all such conditions shall be satisfied
(or waived by the Company in its sole discretion) or the Redemption Date may not occur at all and such notice may be rescinded if all
such conditions shall not have been satisfied (or waived by the Company in its sole discretion).”

 

(f)            The
phrase “the Redemption Price” in Section 10.4(2) of the Indenture shall be replaced with the phrase “the
Redemption Price and the aggregate principal amount to be redeemed pursuant to such redemption.”

 

(g)           The
clause “, and (unless the Redemption Date shall be an Interest Payment Date) interest accrued to the Redemption Date on,”
in Section 10.5 of the Indenture shall be deleted.

 

(h)           The
text of the first paragraph of Section 10.6 of the Indenture shall be amended to read as follows:

 

“Notice of redemption
having been given as aforesaid, the Securities so to be redeemed shall, on the applicable Redemption Date, become due and payable at
the Redemption Price therein specified (subject to the Company’s obligation, if applicable, to pay, on the Interest Payment Date
that occurs on, or immediately following, such Redemption Date, unpaid interest on such Securities that has accrued to, but excluding,
such Interest Payment Date), and from and after such Redemption Date (unless the Company shall default in the payment of the Redemption
Price or, if applicable, such interest) such Securities shall cease to be Outstanding or to bear interest. Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price; provided,
however, that, unless otherwise specified as contemplated by Section 3.1, installments of interest on Registered Securities
whose Stated Maturity is on or prior to the Redemption Date shall, without duplication, be payable to the Holders of such Securities,
or one or more Predecessor Securities, registered as such at the close of business on the relevant record date according to their terms
and this Indenture.”

 

    5

     

    

 

ARTICLE IV

 

COVENANTS

 

The covenants contained
in Section 4 of the Indenture shall apply to the Notes as modified by the amendment listed below.

 

Section 4.01
  With respect to the Notes, the following paragraph shall be inserted at the end of Section 9.6 of the Indenture:

 

“For avoidance of doubt,
in no event shall the Company be required to deliver to, or file with, the Trustee any material for which the Company is seeking, or
has received, confidential treatment from the Commission. For purposes of this Section 9.6, each document or other report of the
Company that is filed with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934,
as amended, shall be deemed to be delivered to, and filed with, the Trustee (and, if applicable, the Holders) if such document or report
is so filed through the Commission’s EDGAR or IDEA database (or any successor thereto).”

 

ARTICLE V

 

SATISFACTION,
DISCHARGE AND DEFEASANCE

 

Section 5.01
  Article 4 of the Indenture shall apply to the Notes. For purposes of the Notes, each occurrence of the phrase “Sections 7.1,
9.4 (other than the Company’s obligation to maintain its corporate existence), 9.8 and 9.10” in Section 4.5 of the Indenture
shall be replaced with the phrase “Sections 7.1, 9.4 (other than the Company’s obligation to maintain its corporate existence),
9.5, 9.6, 9.8, 9.9 and 9.10”.

 

Section 5.02
  For purposes of the Notes, amounts deposited pursuant to Section 4.1 of the Indenture may, notwithstanding anything to the contrary
in the Indenture, consist of cash, Government Obligations or a combination of cash and Government Obligations, in each case on the same
basis on which the Company is permitted, pursuant to Section 4.6(a) of the Indenture, to deposit cash, Government Obligations
or a combination of cash and Government Obligations to effect a defeasance or covenant defeasance.

 

ARTICLE VI

 

AMENDMENTS

 

Section 6.01
  For purposes of the Notes, the following sentence shall be inserted at the end of the first paragraph of Section 1.6 of the Indenture:
 “For avoidance of doubt, notice to any Holder(s) of any Security that is issued in global form and registered in the name
of a Depository or a nominee thereof shall be sufficient in all respects if given in compliance with the rules, policies, procedures,
practices or instructions of such Depository.”

 

Section 6.02
  For purposes of the Notes, for avoidance of doubt, (i) the phrase “accrued interest” in Section 5.2 of the Indenture
refers to accrued and unpaid interest; and (ii) the phrase “interest upon installments of interest” in Section 5.2(1) of
the Indenture refers to interest upon overdue installments of interest.

 

Section 6.03
  For purposes of the Notes, the phrase “a Default in payment on the Securities of any series” in Section 6.6 of the Indenture
shall be replaced with the phrase “a Default with respect to Securities of any series (other than a Default in payment on Securities
of such series)”.

 

    6

     

    

 

Section 6.04
  For purposes of the Notes, the phrase “a corporation” in Section 7.1(1) of the Indenture shall be replaced with
the phrase “an entity” and the following sentence shall be inserted at the end of Section 7.1 of the Indenture: “For
the avoidance of doubt, this Article 7 shall not apply to a mere assignment for security purposes or pledge of assets.”

 

Section 6.05
  Section 2.4 of the Indenture shall not apply to the Notes. The provisions governing the legends to be applied to Notes are set forth
in Appendix A hereto.

 

Section 6.06
  The sixth paragraph of Section 3.5 of the Indenture shall not apply to the Notes.

 

ARTICLE VII

 

MISCELLANEOUS

 

Section 7.01
  The Indenture, as amended hereby, is in all respects ratified and confirmed, and the terms and conditions thereof, as amended hereby,
shall be and remain in full force and effect. The amendments to the Indenture set forth in this Seventh Supplemental Indenture shall
apply only with respect to the Notes.

 

Section 7.02
  The recitals contained in this Seventh Supplemental Indenture shall be taken as the statements of the Company, and the Trustee shall
have no liability or responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of
this Seventh Supplemental Indenture.

 

Section 7.03
  THIS SEVENTH SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD
BE REQUIRED THEREBY.

 

Section 7.04
  This Seventh Supplemental Indenture may be signed by manual or electronic signature in any number of counterparts, each of which shall
be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. The Trustee may authenticate,
and the Company may execute, the Notes by manual or electronic signature.

 

Section 7.05
  Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Indenture.

 

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

 

    7

     

    

 

IN WITNESS WHEREOF, the parties hereto
have caused this Seventh Supplemental Indenture to be duly executed as of the date first written above.

 

	FIDELITY NATIONAL FINANCIAL, INC.	 
	 	 
	By:	/s/ Michael L. Gravelle	 
	 	Name:	Michael L. Gravelle	 
	 	Title:	Executive Vice President, General Counsel and Corporate Secretary	 

 

	 	 
	 	 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
	 	 
	 	 
	 	By:	/s/ Shannon Matthews
	 	Name:	Shannon Matthews
	 	Title:	Vice President

 

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APPENDIX A

 

PROVISIONS
RELATING TO THE NOTES

 

1.            Definitions.

 

For the purposes of
this Appendix A the following terms shall have the meanings indicated below:

 

“Business
Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York
City or the Corporate Trust Office are authorized or obligated by law or executive order to close.

 

“Depository”
means The Depository Trust Company, its nominees and their respective successors.

 

“Global Notes
Legend” means the legend set forth in Section 2.2(c) hereof.

 

Unless the context
otherwise requires, any reference in this Appendix A to a section refers to a section of this Appendix A.

 

2.            The
Notes.

 

2.1          Form and
Dating; Global Notes.

 

(a)          The
Notes may be transferred in accordance herewith.

 

(i)            Global
Notes. The Notes are issuable in definitive, fully registered book-entry form as a global security (the “Global Notes”).
The Global Notes shall bear the Global Note Legend. The Global Notes initially shall (i) be registered in the name of the Depository
or the nominee of such Depository, in each case for credit to an account of an Agent Member (as defined herein) and (ii) be delivered
to the Trustee as custodian for such Depository. The aggregate principal amount of each Global Note (as defined below) may from time
to time be increased or decreased by adjustments made on the records of the Trustee and the Depository or its nominee, as the case may
be, in connection with transfers and exchanges of interests therein as herein provided.

 

(ii)           Members
of, or direct or indirect participants in, the Depository (“Agent Members”) shall have no rights under the Indenture
with respect to any Global Note held on their behalf by the Depository, or the Trustee as its custodian, or under the Global Notes. The
Depository may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the Global
Notes for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent
of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depository,
or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights
of a Holder of any Note.

 

(iii)          Transfers
of Global Notes shall be limited to transfer in whole, but not in part, to the Depository, its successors or their respective nominees.

 

(iv)         The
Holder of any Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests
through Agent Members, to take any action which a Holder is entitled to take under the Indenture or the Notes.

 

    Appendix A-1 

     

    

 

2.2           Transfer
and Exchange.

 

(a)           Transfer
and Exchange of Global Notes. A Global Note may not be transferred as a whole except as set forth in Section 2.1(b).
Global Notes also may be transferred, exchanged or replaced, in whole or in part, as provided in Section 3.6 of the Indenture.
Beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.2(b) and 2.2(c).

 

(b)           Transfer
and Exchange of Beneficial Interests in Global Notes. The transfer and exchange of beneficial interests in the Global Notes shall
be effected through the Depository, in accordance with the provisions of the Indenture and the applicable rules and procedures of
the Depository. Beneficial interests in Global Notes shall be transferred or exchanged only for beneficial interests in Global Notes
except in the circumstances described in the seventh paragraph of Section 3.5 of the Indenture, provided that for purposes
of the Notes, the words “and the Depositary requests the issuance of definitive notes in certificated form” shall be deemed
to have been inserted in clause (iii) thereof immediately prior to the phrase “, the Company’s election pursuant to
Section 3.1(b)(24) shall no longer be effective”.

 

(c)           Legend.
Each Note certificate evidencing the Global Notes (and all Notes issued in exchange therefor or in substitution thereof) shall bear a
legend in substantially the following form (each defined term in the legend being defined as such for purposes of the legend only):

 

“UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW
YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &
CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

TRANSFERS OF THIS GLOBAL NOTE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH
IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF”

 

(d)           Cancellation
or Adjustment of Global Note. At such time as all beneficial interests in a particular Global Note have been exchanged for definitive
notes in certificated form or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such
Global Note shall be returned to or retained and canceled by the Trustee in accordance with Section 3.9 of the Indenture.

 

    Appendix A-2 

     

    

 

(e)          Obligations
with Respect to Transfers and Exchanges of Notes.

 

(i)            To
permit registrations of transfers and exchanges the Company shall execute, and the Trustee shall authenticate, definitive notes in certificated
form and Global Notes at the Registrar’s request.

 

(ii)           No
service charge shall be made for any registration of transfer or exchange; provided, however, that the Company may require
payment of a sum sufficient to pay all taxes, assessments or similar governmental charges in connection with any transfer or exchange.

 

(iii)          Prior
to the due presentation for registration of transfer of any Note, the Company, the Trustee, a Paying Agent or the Registrar shall deem
and treat the person in whose name a Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal
of and interest on such Note and for all other purposes whatsoever, whether or not such Note is overdue, and none of the Company, the
Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary.

 

(iv)          All
Notes issued upon any transfer or exchange pursuant to the terms of the Indenture shall evidence the same debt and shall be entitled
to the same benefits under the Indenture as the Notes surrendered upon such transfer or exchange.

 

(v)          The
transferor of any Note shall provide or cause to be provided to the Trustee all information reasonably requested by the Trustee that
is necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis
reporting obligations under Section 6045 of the Internal Revenue Code of 1986, as amended. The Trustee may rely on information provided
to it and shall have no responsibility to verify or ensure the accuracy of such information. In connection with any proposed exchange
of a certificated Note for a Global Note, the Company or the Depository shall provide or cause to be provided to the Trustee all information
reasonably requested by the Trustee that is necessary to allow the Trustee to comply with any applicable tax reporting obligations, including
without limitation any cost basis reporting obligations under Section 6045 of the Internal Revenue Code of 1986, as amended. The
Trustee may rely on information provided to it and shall have no responsibility to verify or ensure the accuracy of such information.

 

(f)           No
Obligation of the Trustee.

 

(i)            The
Trustee shall have no responsibility or obligation to any beneficial owner of a Global Note, a member of, or a participant in the Depository
or any other Person with respect to the accuracy of the records of the Depository or its nominee or of any participant or member thereof,
with respect to any ownership interest in the Notes or with respect to the delivery to any participant, member, beneficial owner or other
Person (other than the Depository) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under
or with respect to such Notes. All notices and communications to be given to the Holders and all payments to be made to the Holders under
the Notes shall be given or made only to the registered Holders (which shall be the Depository or its nominee in the case of a Global
Note). The rights of beneficial owners in any Global Note shall be exercised only through the Depository subject to the applicable rules and
procedures of the Depository. The Trustee may conclusively rely and shall be fully protected in so relying upon information furnished
by the Depository with respect to its members, participants and any beneficial owners.

 

(ii)           The
Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed
under the Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between
or among Depository participants, members or beneficial owners in any Global Note) other than to require delivery of such certificates
and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of the Indenture,
and to examine the same to determine substantial compliance as to form with the express requirements hereof.

 

    Appendix A-3 

     

    

 

 

EXHIBIT A

 

[FORM OF FACE
OF NOTE]

 

[Global Notes Legend]

 

UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

TRANSFERS OF THIS GLOBAL NOTE SHALL
BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE
AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO ON THE REVERSE HEREOF.

 

    A-1

     

    

 

	No. [                               ]	CUSIP
No.: 31620RAL9
	 	ISIN No.: US31620RAL96

 

3.200% SENIOR NOTE
DUE 2051

 

FIDELITY NATIONAL FINANCIAL, INC.,
a Delaware corporation, promises to pay to Cede & Co., or its registered assigns, the principal sum of [                     ] Dollars ($[                       ]) or
such other amount as shall be set forth on Schedule I hereto on September 17, 2051.

 

Interest Payment Dates: March 17
and September 17, with the first Interest Payment Date to be March 17, 2022

 

Regular Record Dates: March 2 and
September 2

 

Authenticated: September 17, 2021

 

Dated: September 17, 2021

 

    A-2

     

    

 

FIDELITY NATIONAL FINANCIAL, INC.

 

	By:	 	 
		Name:
Anthony Park

Title: Chief Financial Officer

 

	By:	 	 
		Name: Michael L. Gravelle

                                                                                Title: Executive Vice President, General
 Counsel and Corporate Secretary

 

    A-3

     

    

 

Certificate
of Authentication

 

THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A., as Trustee, certifies that this is one of the Securities of the series described in the within-mentioned
Indenture.

 

	 	THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A., as Trustee
	 	 
	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Dated:

 

    A-4

     

    

 

FIDELITY NATIONAL
FINANCIAL, INC.

 

3.200% SENIOR NOTE
DUE 2051

 

1. INTEREST. Fidelity National Financial, Inc.,
a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Security at the rate of
3.200% per annum, payable semiannually in arrears on March 17 and September 17 of each year (each, an “Interest Payment
Date”), commencing on March 17, 2022, until the principal is paid or made available for payment. Interest on this Security
will accrue from, and including, the most recent date to which interest has been paid or provided for (or, if there is no existing default
in the payment of interest and if this Note is authenticated between a Regular Record Date and the next Interest Payment Date, from such
Interest Payment Date) or, if no interest has been paid, from, and including, the date hereof, in each case to, but excluding, the next
Interest Payment Date. Interest shall be computed on the basis of a 360-day year of twelve 30-day months.

 

2. METHOD OF PAYMENT. The Company shall
pay interest on this Security (except Defaulted Interest, if any, which shall be paid on such special payment date as may be fixed in
accordance with the Indenture referred to below) to the persons who are registered Holders at the close of business on the March 2
or September 2 immediately preceding the applicable Interest Payment Date, except that interest payable on September 17, 2051
shall be payable to the persons to whom principal is payable on such date. A holder must surrender this Security to a Paying Agent to
collect principal payments. The Company shall pay principal and interest in money of the United States that at the time of payment is
legal tender for payment of public and private debts.

 

3. PAYING AGENT AND REGISTRAR. Initially,
The Bank of New York Mellon Trust Company, N.A., shall act as Paying Agent and Registrar. The Company may change or appoint any Paying
Agent, Registrar or co-Registrar without notice. The Company or any of its Subsidiaries may act as Paying Agent, Registrar or co-Registrar.

 

4. INDENTURE. The Company issued this
Security under the Indenture (the “Base Indenture”), dated as of December 8, 2005, between Fidelity National Title Group, Inc.
(as predecessor in interest to the Company) and The Bank of New York Trust Company, N.A. (now known as The Bank of New York Mellon Trust
Company, N.A.), as Trustee, as amended by the First Supplemental Indenture (the “First Supplemental Indenture”), dated as
of January 6, 2006, between such parties, the Second Supplemental Indenture (the “Second Supplemental Indenture”), dated
as of May 5, 2010, between such parties and the Seventh Supplemental Indenture (the “Seventh Supplemental Indenture”
and the Base Indenture as amended by the First Supplemental Indenture, the Second Supplemental Indenture and the Seventh Supplemental
Indenture, the “Indenture”), dated as of September 17, 2021. The terms of this Security were established pursuant to
the Seventh Supplemental Indenture. The terms of this Security include those stated in the Indenture and those made part of the Indenture
by reference to the Trust Indenture Act of 1939 (“TIA”). This Security is subject to all such terms, and Holders are referred
to the Indenture and the TIA. The Company will provide a copy of the Indenture, without charge, upon written request to the Company sent
to 601 Riverside Avenue, Jacksonville, Florida 32204, Attention: Corporate Secretary. Capitalized terms used herein without definition
shall have the respective meanings ascribed to them in the Indenture.

 

5. PERSONS DEEMED OWNERS. The registered
Holder or Holders of this Security shall be treated as owners of it for all purposes.

 

    A-5

     

    

 

6. OPTIONAL REDEMPTION. This Security
is redeemable, at the option of the Company, (a) prior to March 17, 2051, at any time in whole, or from time to time in part,
at a Redemption Price, payable in cash, equal to the greater of: (x) 100% of the principal amount to be redeemed; and (y) the
sum of the present values of the remaining (as of the Redemption Date for such redemption) scheduled interest and principal payments
on this Security (or the portion hereof) to be redeemed (excluding interest accrued to such Redemption Date), discounted to such Redemption
Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 25 basis
points, in each case plus unpaid interest that has accrued to, but excluding, such Redemption Date and (b) on or after March 17,
2051, at any time in whole, or from time to time in part, at a Redemption Price, payable in cash, equal to 100% of the principal amount
to be redeemed, plus unpaid interest that has accrued to, but excluding, such Redemption Date. If such Redemption Date is after a Regular
Record Date for this Security and on or before the related Interest Payment Date, then the payment of interest becoming due on such Interest
Payment Date shall be payable, on such Interest Payment Date, to the Holder of record hereof at the close of business on such Regular
Record Date, and the Redemption Price shall not include unpaid interest that has accrued to, but excluding, the Redemption Date. This
Security shall not be redeemable by the Company except as provided in the preceding sentences and the Indenture. This Security shall
not be redeemable at the election of any Holder, except to the extent that the principal of, and interest on, this Security may be accelerated
in accordance with Article 5 of the Indenture.

 

For purposes of determining the Redemption
Price with respect to redemptions occurring prior to March 17, 2051 the following definitions are applicable:

 

“Comparable Treasury Issue”
means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining
term of this Security and that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing
new issues of corporate debt securities of comparable maturity to the remaining term of this Security.

 

“Comparable Treasury Price”
of a Comparable Treasury Issue means, with respect to any Redemption Date: (x) the average of the Reference Treasury Dealer Quotations
for such Redemption Date, after excluding the highest and lowest of the Reference Treasury Dealer Quotations; or (y) if the Company
obtains fewer than four (4) Reference Treasury Dealer Quotations, the arithmetic average of all Reference Treasury Dealer Quotations
so obtained; or (z) if the Company obtains only one Reference Treasury Dealer Quotation, such Reference Treasury Dealer Quotation.

 

“Independent Investment Banker”
means one of the Reference Treasury Dealers, or its successor, selected by the Company.

 

“Reference Treasury Dealers”
means each of (i) BofA Securities, Inc. and J.P. Morgan Securities LLC (or their respective successors); and (ii) any
other primary U.S. government securities dealer in New York City (a “Primary Treasury Dealer”) selected by the Company.
If any of the foregoing ceases to be a Primary Treasury Dealer, the Company shall substitute another Primary Treasury Dealer in its place.

 

“Reference Treasury Dealer Quotations”
means, with respect to each Reference Treasury Dealer and any Redemption Date for this Security, the average, as determined by the Company
(or the Independent Investment Banker), of the bid and asked prices for the Comparable Treasury Issue for this Security, expressed in
each case as a percentage of its principal amount, quoted in writing to the Company by such Reference Treasury Dealer at 5:00 p.m., New
York City time, on the third (3rd) Business Day preceding such Redemption Date.

 

“Treasury Yield” means,
with respect to any Redemption Date applicable to this Security, the rate per annum equal to the semiannual equivalent yield to maturity,
computed as of the third (3rd) Business Day immediately preceding such Redemption Date, of the Comparable Treasury Issue, assuming a
price for the Comparable Treasury Issue, expressed as a percentage of its principal amount, equal to the applicable Comparable Treasury
Price for such Redemption Date.

 

    A-6

     

    

 

7. LEGAL HOLIDAYS. In any case where
any Interest Payment Date, Redemption Date, Stated Maturity or Maturity of this Security shall not be a Business Day at any Place of
Payment, then (notwithstanding any other provision of the Indenture or of this Security), payment of principal or interest need not be
made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same
force and effect as if made on such date; provided that no interest shall accrue on the amount so payable for the period from and after
such Interest Payment Date, Redemption Date, Stated Maturity or Maturity, as the case may be.

 

8. UNCLAIMED MONEY. Subject to the terms
of the Indenture, if money for the payment of principal or interest remains unclaimed for two (2) years, the Trustee or Paying Agent
shall pay the money back to the Company at its request, and thereafter Holders entitled to the money shall, as unsecured general creditors,
look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money,
and all liability of the Company as trustee thereof, shall thereupon cease.

 

9. AMENDMENT, SUPPLEMENT. Subject to
certain exceptions, the Indenture or this Security may be amended or supplemented with the consent of at least a majority in aggregate
principal amount of the Holders affected by the amendment. Without the consent of any Holder, the Company and the Trustee may amend or
supplement the Indenture or this Security to, among other things, cure certain ambiguities or correct certain mistakes or to create another
series of Securities and establish its terms.

 

10. DEFAULTS AND REMEDIES. The Events
of Default set forth in Sections 5.1(1), (2), (3), (4), (5) and (6) of the Indenture apply to this Security.

 

If an Event of Default with respect
to the Outstanding securities of the same series as this Security occurs and is continuing, the Trustee or the Holders of at least 25%
in aggregate principal amount of all Outstanding securities of the same series as this Security, by written notice to the Company (and,
if given by the Holders, to the Trustee), may declare the principal of and accrued and unpaid interest, if any, on the aggregate principal
amount of all Outstanding securities of the same series as this Security to be due and payable, and upon any such declaration, such principal
and interest, if any, shall be immediately due and payable.

 

At any time after such a declaration
of acceleration with respect to this Security has been made and before a judgment or decree for payment of the money due has been obtained
by the Trustee as provided in the Indenture, the Holders of a majority in aggregate principal amount of all Outstanding securities of
the same series as this Security, by written notice to the Trustee, may rescind and annul such declaration and its consequences as provided,
and subject to satisfaction of the conditions set forth, in the Indenture.

 

The Holders of a majority in aggregate
principal amount of all Outstanding securities of the same series as this Security, by written notice to the Trustee, may waive, on behalf
of all Holders of such securities, any past Default or Event of Default with respect to such securities and its consequences except (a) a
Default or Event of Default in the payment of the principal of, or interest on, any such security or (b) in respect of a covenant
or provision of the Indenture which, pursuant to the Indenture, cannot be amended or modified without the consent of each Holder of each
affected Outstanding security of the same series as this Security. Upon any such waiver, such Default shall cease to exist, and any Event
of Default arising therefrom shall be deemed to have been cured.

 

    A-7

     

    

 

11. AMOUNT UNLIMITED. The aggregate
principal amount of Securities which may be authenticated and delivered under the Indenture is unlimited. The Securities may be issued
from time to time in one or more series. The Company may from time to time, without the consent of the Holders of this Security, issue
additional Securities of the series of which this Security is a part on substantially the same terms and conditions as those of this
Security (except for issue date, issue price and, if applicable, the first payment of interest thereon), and with the same CUSIP number
(if the additional Securities are fungible for U.S. federal income tax purposes with this Security).

 

12. TRUSTEE DEALINGS WITH COMPANY. Subject
to the TIA, The Bank of New York Mellon Trust Company, N.A., as Trustee under the Indenture, in its individual or any other capacity,
may make loans to, accept deposits from, and perform services for the Company or its affiliates, and may otherwise deal with the Company
or its affiliates, as if it were not Trustee.

 

13. NO RECOURSE AGAINST OTHERS. No director,
officer, employee or stockholder, as such, of the Company shall have any liability for any obligations of the Company under this Security
or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder, by accepting
this Security, waives and releases all such liability. Such waiver and release are part of the consideration for the issue of this Security.

 

14. DISCHARGE OF INDENTURE. The Indenture
contains certain provisions pertaining to discharge and defeasance.

 

15. AUTHENTICATION. This Security shall
not be valid until the Trustee signs the certificate of authentication on the other side of this Security.

 

16. GOVERNING LAW. This Security shall
be governed by and construed in accordance with the internal laws of the State of New York.

 

17. ABBREVIATIONS. Customary abbreviations
may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT
TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform Gifts to Minors
Act).

 

[Remainder of Page Intentionally
Left Blank]

 

    A-8

     

    

 

ASSIGNMENT FORM

 

To assign this Security, fill in the
form below:

 

I or we assign and transfer this Security
to:

 

	 
	(Print or type assignee’s name, address and zip code)
	 
	 
	(Insert assignee’s soc. sec. or tax identification No.)

 

and irrevocably appoint __________ as
agent to transfer this Security on the books of the Company. The agent may substitute another to act for him.

 

	Date:	 	 	Your Signature:
	 

 

	 

 

Sign exactly as your name appears on
the other side of this Security.

 

	Signature Guarantee: 	 	 	Signature of Signature
Guarantee:	 

 

Date:  ___________________________________

 

Signature must be guaranteed by a participant
in

a recognized signature guaranty medallion program

or other signature guarantor program reasonably

acceptable to the Trustee

 

    A-9

     

    

 

[TO BE ATTACHED
TO GLOBAL SECURITIES]

 

SCHEDULE OF INCREASES
OR DECREASES IN GLOBAL SECURITY

 

The initial principal
amount of this Global Security is $                     . The following increases or decreases in this Global Security have been made:

 

	Date of Exchange	 	Amount of decrease in Principal Amount of this Global Security	 	Amount of increase in Principal Amount of this Global Security	 	Principal amount of this Global Security following such decrease or increase	 	Signature of authorized signatory of Trustee or Securities Custodian
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    A-10Exhibit 4.1

 

WARRANT
AGREEMENT

 

This
Warrant Agreement (this “Agreement”) is made as of September 14, 2021, between Aesther Healthcare Acquisition Corp.,
a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, LLC, a corporation, as
warrant agent (in such capacity, the “Warrant Agent”).

 

WHEREAS,
the Company is engaged in an initial public offering (the “Public Offering”) of units of the Company’s equity
securities, each such unit is comprised of one share of Class A common stock of the Company, par value $0.0001 per share (“Common
Stock”), and one-half of one redeemable Public Warrant (as defined below) (the “Public Units”) and, in connection
therewith, has determined to issue and deliver up to 5,000,000 warrants (or up to 5,750,000 warrants if the Over-allotment Option (as
defined below) is exercised in full) to public investors in the Offering (the “Public Warrants”). Each whole Warrant
entitles the holder thereof to purchase one half of one share of Common Stock for $11.50 per share, subject to adjustment as described
herein; and

 

WHEREAS,
on September 14, 2021, the Company entered into that certain Placement Warrant Purchase Agreement with Aesther Healthcare Sponsor, LLC,
a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor agreed to purchase an aggregate
of 5,261,000 private placement warrants (or up to 5,711,000 private placement warrants if the underwriters in the Offering exercise their
Over-allotment Option in full) simultaneously with the closing of the Offering (and the closing the Over-allotment Option, if applicable)
(the “Private Placement Warrants” and, together with the Public Warrants, the “Warrants”) at a
purchase price of $1.00 per Private Placement Warrant bearing the legend set forth in Exhibit B attached hereto; and

 

WHEREAS,
in order to finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined below),
the Sponsor or an affiliate of the Sponsor or certain of the Company’s executive officers and directors may, but are not obligated
to, loan to the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible into up to an additional
1,500,000 Warrants at a price of $1.00 per Warrant, and, in connection therewith, will issue and deliver up to an aggregate of 1,500,000
warrants (the “Working Capital Warrants”); and

 

WHEREAS,
following consummation of the Offering, the Company may issue additional warrants (“Post IPO Warrants,” and, together
with the Private Placement Warrants, the Working Capital Warrants and the Public Warrants, the “Warrants”) in connection
with, or following the consummation by the Company of, a Business Combination (defined below); and

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “Commission”) registration statement on Form
S-1, File No. 333-258012 (the “Registration Statement”) and prospectus (the “Prospectus”), for
the registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Public Units, the Public
Warrants, the Common Stock included in the Units and the Common Stock to be issued to the Representative (as defined below); and

 

WHEREAS,
following consummation of the Public Offering, the Company may issue additional warrants (“Post IPO Warrants” and
together with the Public Warrants, Private Warrants, and Working Capital Warrants, the “Warrants”) in connection with,
or following the consummation by the Company of, a Business Combination (defined below); and

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with
the issuance, registration, transfer, exchange, redemption, and exercise of the Warrants; and

 

WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised,
and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

    	1

     

    

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and
countersigned by or on behalf of the Warrant Agent (if a physical certificate is issued), as provided herein, the valid, binding, and
legal obligations of the Company, and to authorize the execution and delivery of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1.
Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants,
and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set
forth in this Agreement.

 

2.
Warrants.

 

2.1.
Form of Warrant. Each Warrant shall be issued in registered form only, and, if a physical certificate is issued, shall be in substantially
the form of Exhibit A hereto, the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature
of, the Chairman of the Board of Directors or Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company
and shall bear a facsimile of the Company’s seal. In the event the person whose facsimile signature has been placed upon any Warrant
shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with
the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2.
Uncertificated Warrants. Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part
of, and be represented by, a Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or
the facilities of The Depository Trust Company (the “Depositary”) or other book-entry depositary system, in each case
as determined by the Board of Directors of the Company or by an authorized committee thereof. Any Warrant so issued shall have the same
terms, force and effect as a certificated Warrant that has been duly countersigned by the Warrant Agent in accordance with the terms
of this Agreement. If the Depositary subsequently ceases to make its book-entry settlement system available for the Public Warrants,
the Company may instruct the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public
Warrants are not eligible for, or it is no longer necessary to have the Public Warrants available in, book-entry form, the Warrant Agent
shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each Book-Entry Warrant Certificate,
and the Company shall instruct the Warrant Agent to deliver to the Depositary definitive certificates in physical form evidencing such
Warrants (“Definitive Warrant Certificate”). Such Definitive Warrant Certificate shall be in the form annexed hereto
as Exhibit A, with appropriate insertions, modifications and omissions, as provided above.

 

2.3.
Effect of Countersignature. Except with respect to uncertificated Warrants as described above, unless and until countersigned
by the Warrant Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.4.
Registration.

 

2.4.1.
Warrant Register. The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original
issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and
register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions
delivered to the Warrant Agent by the Company.

 

2.4.2.
Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may
deem and treat the person in whose name such Warrant is then registered in the Warrant Register (“registered holder”)
as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing
on the Warrant certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and
for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

    	2

     

    

 

2.5.
Detachability of Warrants. The securities comprising the Public Units will not be separately transferable until the 52nd
day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal
holiday, on which banks in New York City are generally open for normal business (a “Business Day”), then on the immediately
succeeding Business Day following such date, or earlier with the consent of EF Hutton (the “Representative”), but
in no event will the Representative allow separate trading of the securities comprising the Public Units until (i) the Company has filed
a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the
Public Offering including the proceeds received by the Company from the exercise of the underwriters’ over-allotment option in
the Public Offering, if the over-allotment option is exercised prior to the filing of the Form 8-K, and (ii) the Company has issued a
press release and has filed a Current Report on Form 8-K announcing when such separate trading shall begin (the “Detachment
Date”). If the over-allotment option is exercised following the filing of a current report on Form 8-K pursuant to (i) above,
a second or amended current report on Form 8-K will be filed to provide updated financial information to reflect the exercise of the
over-allotment option.

 

2.6
Fractional Warrants. The Company shall not issue fractional Warrants other than as part of the Public Units, each of which is
comprised of one share of Common Stock and one half of one Public Warrant. If, upon the detachment of Public Warrants from Public Units
or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round down to the nearest whole
number the number of Warrants to be issued to such holder.

 

2.8
Private Warrants and Working Capital Warrants. The Private Warrants and Working Capital Warrants will be identical to the Public
Warrants.

 

2.9
Post IPO Warrants. The Post IPO Warrants, when and if issued, shall have the same terms and be in the same form as the Public
Warrants except as may be agreed upon by the Company.

 

3.
Terms and Exercise of Warrants

 

3.1.
Warrant Price. Each Warrant shall, when countersigned by the Warrant Agent (except with respect to uncertificated Warrants), entitle
the registered holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the number
of shares of Common Stock stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section 4 hereof and
in the last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement refers to the price per
share at which the shares of Common Stock may be purchased at the time a Warrant is exercised. The Company in its sole discretion may
lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business
Days; provided, that the Company shall provide at least twenty (20) days’ prior written notice of such reduction to registered
holders of the Warrants and, provided further that any such reduction shall be applied consistently to all of the Warrants.

 

3.2.
Duration of Warrants. A Warrant may be exercised only during the period commencing on the later of: (i) the date that is thirty
(30) days after the first date on which the Company completes a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination, involving the Company and one or more businesses (a “Business Combination”), or (ii)
the date that is twelve (12) months from the date of the closing of the Offering (as described more fully in the Registration Statement),
and terminating at 5:00 p.m., New York City time on the earlier to occur of (i) the date that is five (5) years after the date on which
the Company consummates a Business Combination, (ii) at 5:00 p.m., New York City time on the Redemption Date as provided in Section 6.2
of this Agreement and (iii) the liquidation of the Trust Account (defined below) (“Expiration Date”). The period of
time from the date the Warrants will first become exercisable until the expiration of the Warrants shall hereafter be referred to as
the “Exercise Period.” Except with respect to the right to receive the Redemption Price (as set forth in Section 6
hereunder), as applicable, each outstanding Warrant not exercised on or before the Expiration Date shall become void, and all rights
thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m. New York City time on the Expiration Date.
The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided, however, that the
Company will provide at least twenty (20) days’ prior written notice of any such extension to registered holders and, provided
further that any such extension shall be applied consistently to all of the Warrants. Notwithstanding anything to the contrary contained
herein, for so long as any Private Placement Warrant is held by EF Hutton and/or their designees, such Private Placement Warrant may
not be exercised after five years from the effective date of the Registration Statement.

 

    	3

     

    

 

3.3.
Exercise of Warrants.

 

3.3.1.
Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent (if a
physical certificate is issued), may be exercised by the registered holder thereof by surrendering it, at the office of the Warrant Agent,
or at the office of its successor as Warrant Agent, in the Borough of Manhattan, City and State of New York, with the subscription form,
as set forth in the Warrant, duly executed, and by paying in full the Warrant Price for each share of Common Stock as to which the Warrant
is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, as follows:

 

(a)
in lawful money of the United States, by good certified check or good bank draft payable to the order of the Warrant Agent or wire transfer;

 

(b)
in the event of a redemption pursuant to Section 6.1 hereof in which the Company’s Board of Directors (the “Board”)
has elected to force all holders of Warrants to exercise such Warrants on a “cashless basis,” by surrendering the
Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares
of Common Stock underlying the Warrants, multiplied by the excess of the “Fair Market Value” (defined in this Section
3.3.1(b) below), over the Warrant Price by (y) the Fair Market Value; provided, however, that no cashless exercise shall be permitted
unless the Fair Market Value is equal to or higher than the exercise price. Solely for purposes of this Section 3.3.1(b), the “Fair
Market Value” shall mean the average reported closing price of the shares of Common Stock for the ten (10) trading days ending
on the third trading day prior to the date on which the notice of redemption is sent to holders of the Warrants pursuant to Section 6
hereof; or

 

(c)
in the event the registration statement required by Section 7.4 hereof is not effective and current within sixty (60) Business Days after
the closing of a Business Combination, by surrendering such Warrants for that number of shares of Common Stock equal to the quotient
obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the excess of the
“Fair Market Value” (defined in this Section 3.3.1(c) below), over the Warrant Price by (y) the Fair Market Value;
provided, however, that no cashless exercise shall be permitted unless the Fair Market Value is equal to or higher than the exercise
price. Solely for purposes of this Section 3.3.1(c), the “Fair Market Value” shall mean the average reported last
sale price of the shares of Common Stock for the ten (10) trading days ending on the trading day prior to the date of exercise.

 

3.3.2.
Issuance of Shares of Common Stock. As soon as practicable after the exercise of any Warrant and the clearance of the funds in
payment of the Warrant Price (if any), the Company shall issue to the registered holder of such Warrant a certificate or certificates,
or book entry position, for the number of shares of Common Stock to which he, she or it is entitled, registered in such name or names
as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new countersigned Warrant, or book
entry position, for the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, in no
event will the Company be required to net cash settle the Warrant exercise. No Warrant shall be exercisable for cash and the Company
shall not be obligated to issue shares of Common Stock upon exercise of a Warrant unless the Common Stock issuable upon such Warrant
exercise has been registered, qualified or deemed to be exempt from registration or qualification under the securities laws of the state
of residence of the registered holder of the Warrants. In the event that the condition in the immediately preceding sentences are not
satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant for cash and such Warrant
may have no value and expire worthless, in which case the purchaser of a Unit containing such Public Warrants shall have paid the full
purchase price for the Unit solely for the shares of Common Stock underlying such Unit. Warrants may not be exercised by, or securities
issued to, any registered holder in any state in which such exercise or issuance would be unlawful. The Company may require holders of
Public Warrants to settle the Warrant on a “cashless basis” pursuant to Section 7.4. If, by reason of any exercise
of Warrants on a “cashless basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant,
to receive a fractional interest in a share of Common Stock, the Company shall round up to the nearest whole number, the number of shares
of Common Stock to be issued to such holder.

 

    	4

     

    

 

3.3.3.
Valid Issuance. All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall
be validly issued, fully paid and nonassessable.

 

3.3.4.
Date of Issuance. Each person in whose name any book entry position or certificate for shares of Common Stock are issued shall
for all purposes be deemed to have become the holder of record of such shares on the date on which the Warrant, or book entry position
representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate
in the case of a certificated Warrant, except that, if the date of such surrender and payment is a date when the share transfer books
of the Company or book entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares
of Common Stock at the close of business on the next succeeding date on which the share transfer books or book entry system are open.

 

3.3.5
Maximum Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions
contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes
such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and
such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person and
any of its affiliates or any other person subject to aggregation with such person for purposes of the “beneficial ownership”
test under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or any “group”
(within the meaning of Section 13 of the Exchange Act) of which such person is or may be deemed to be a part, would beneficially own
(within the meaning of Section 13 of the Exchange Act) (or to the extent that for any reason the equivalent calculation under Section
16 of the Exchange Act and the rules and regulations thereunder would result in a higher ownership percentage, such higher percentage
would be) in excess of 4.9% or 9.8% (as specified by the holder) (the “Maximum Percentage”) of the shares of Common
Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares
of Common Stock beneficially owned by such person and its affiliates or any such other person or group shall include the number of shares
of Common Stock issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall
exclude shares of Common Stock that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially
owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities
of the Company beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible
preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as
set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section
13(d) of the Exchange Act. For purposes of the Warrant, in determining the number of outstanding shares of Common Stock, the holder may
rely on the number of outstanding shares of Common Stock as reflected in (1) the Company’s most recent annual report on Form 10-K,
quarterly report on Form 10-Q, current report on Form 8-K or other public filing with the Commission as the case may be, (2) a more recent
public announcement by the Company or (3) any other notice by the Company or the Warrant Agent setting forth the number of shares of
Common Stock outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the Company shall, within
two (2) Business Days, confirm orally and in writing to such holder the number of shares of Common Stock then outstanding. In any case,
the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of equity securities
of the Company by the holder and its affiliates since the date as of which such number of outstanding shares of Common Stock were reported.
By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable
to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective until
the sixty-first (61st) day after such notice is delivered to the Company.

 

    	5

     

    

 

4.
Adjustments.

 

4.1.
Stock Dividends; Split Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding
shares of Common Stock are increased by a stock dividend payable in shares of Common Stock, or by a split up of shares of Common Stock,
or other similar event, then, on the effective date of such stock dividend, split up or similar event, the number of shares of Common
Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in outstanding shares of Common Stock. A
rights offering to holders of the Common Stock entitling holders to purchase shares of Common Stock at a price less than the “Fair
Market Value” (as defined below) shall be deemed a stock dividend of a number of shares of Common Stock equal to the product
of (i) the number of shares of Common Stock actually sold in such rights offering (or issuable under any other equity securities sold
in such rights offering that are convertible into or exercisable for the Common Stock) and (ii) one (1) minus the quotient of (x) the
price per share of Common Stock paid in such rights offering divided by (y) the Fair Market Value. For purposes of this subsection 4.1,
(i) if the rights offering is for securities convertible into or exercisable for Common Stock, in determining the price payable for Common
Stock, there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise
or conversion and (ii) “Fair Market Value” means the volume weighted average price of the Common Stock as reported
during the ten (10) trading day period ending on the trading day prior to the first date on which the shares of Common Stock trade on
the applicable exchange or in the applicable market, regular way, without the right to receive such rights.

 

4.2.
Aggregation of Shares. If after the date hereof, the number of outstanding shares of Common Stock is decreased by a consolidation,
combination, reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of
such consolidation, combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable
on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock.

 

4.3
Extraordinary Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or
make a distribution in cash, securities or other assets to the holders of the shares of Common Stock or other shares of the Company’s
capital stock into which the Warrants are convertible (an “Extraordinary Dividend”), then the Warrant Price shall
be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market
value (as determined by the Company’s Board of Directors, in good faith) of any securities or other assets paid in respect of such
Extraordinary Dividend divided by all outstanding shares of the Company at such time (whether or not any stockholders waived their right
to receive such dividend); provided, however, that none of the following shall be deemed an Extraordinary Dividend for purposes of this
provision: (a) any adjustment described in Section 4.1 above, (b) any cash dividends or cash distributions which, when combined on a
per share basis with all other cash dividends and cash distributions paid on the Common Stock during the 365-day period ending on the
date of declaration of such dividend or distribution does not exceed $0.50 per share (taking into account all of the outstanding shares
of the Company at such time (whether or not any shareholders waived their right to receive such dividend) and as adjusted to appropriately
reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that
resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock 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, (c) any payment to satisfy
the redemption rights of the holders of the shares of Common Stock in connection with a proposed initial Business Combination or certain
amendments to the Company’s Amended and Restated Certificate of Incorporation (as described in the Registration Statement) or (d)
any payment in connection with the Company’s liquidation and the distribution of its assets upon its failure to consummate a Business
Combination. Solely for purposes of illustration, if the Company, at a time while the Warrants are outstanding and unexpired, pays a
cash dividend of $0.35 and previously paid an aggregate of $0.40 of cash dividends and cash distributions on the Common Stock during
the 365-day period ending on the date of declaration of such $0.35 dividend, then the Warrant Price will be decreased, effectively immediately
after the effective date of such $0.35 dividend, by $0.25 (the absolute value of the difference between $0.75 (the aggregate amount of
all cash dividends and cash distributions paid or made in such 365-day period, including such $0.35 dividend) and $0.50 (the greater
of (x) $0.50 and (y) the aggregate amount of all cash dividends and cash distributions paid or made in such 365-day period prior to such
$0.35 dividend)). Furthermore, solely for the purposes of illustration, if following the closing of the Company’s initial Business
Combination, there were total shares outstanding of 100,000,000 and the Company paid a $1.00 dividend to 17,500,000 of such shares (with
the remaining 82,500,000 shares waiving their right to receive such dividend), then no adjustment to the Warrant Price would occur as
a $17.5 million dividend payment divided by 100,000,000 shares equals $0.175 per share which is less than $0.50 per share.

 

    	6

     

    

 

4.4
Adjustments in Exercise Price. Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is
adjusted, as provided in Sections 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant
Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable
upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares
of Common Stock so purchasable immediately thereafter.

 

4.5.
Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares
of Common Stock (other than a change covered by Section 4.1, 4.2 or 4.3 hereof or that solely affects the par value of the Common Stock),
or in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger in
which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding
Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company
as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Warrant holders shall thereafter
have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the
shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented
thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the Warrant holder would have
received if such Warrant holder had exercised his, her or its Warrant(s) immediately prior to such event. If any reclassification also
results in a change in the Common Stock covered by Section 4.1, 4.2 or 4.3, then such adjustment shall be made pursuant to Sections 4.1,
4.2, 4.3, 4.4 and this Section 4.5. The provisions of this Section 4.5 shall similarly apply to successive reclassifications, reorganizations,
mergers or consolidations, sales or other transfers. In no event will the Warrant Price be reduced to less than the par value per share
issuable upon exercise of the Warrant. Notwithstanding anything to the contrary herein, in the event of any tender offer for shares of
shares of Common Stock, the offeror shall not make any tender offer for Warrants if the effect of such offer would be to require the
Warrants to be accounted for as liabilities under applicable accounting principles.

 

4.6.
Issuance in connection with a Business Combination. If, in connection with a Business Combination, the Company (a) issues additional
shares of Common Stock or equity-linked securities at an issue price or effective issue price of less than $9.20 per share (with such
issue price or effective issue price as determined by the Company’s Board of Directors, in good faith, and in the case of any such
issuance to the Company’s initial stockholders, or their affiliates, without taking into account any founders’ shares held
by them prior to such issuance), (b) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds,
and interest thereon, available for the funding of the Business Combination on the date of the consummation of such Business Combination
(net of redemptions), and (c) the Fair Market Value (as defined below) 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 greater of (i) the Fair Market Value or (ii) the price at which the Company
issues the shares of Common Stock or equity-linked securities, and 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 Fair Market Value and the price at which the Company issues shares of Common
Stock or equity-linked securities. Solely for purposes of this Section 4.6, the “Fair Market Value” shall mean the
volume weighted average reported trading price of the shares of Common Stock for the twenty (20) trading days starting on the trading
day prior to the date of the consummation of the Business Combination.

 

    	7

     

    

 

4.7
Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a
Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from
such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a Warrant,
setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence
of any event specified in Sections 4.1, 4.2, 4.3, 4.4, 4.5, or 4.6, then, in any such event, the Company shall give written notice to
each Warrant holder, at the last address set forth for such holder in the Warrant Register, of the record date or the effective date
of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event.

 

4.8.
No Fractional Warrants or Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall
not issue fractional shares upon exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of
any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon
such exercise, round up to the nearest whole number of shares of Common Stock to be issued to the Warrant holder.

 

4.9.
Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued
after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant
to this Agreement. However, the Company may at any time in its sole discretion make any change in the form of Warrant that the Company
may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange
or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

4.10
Other Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections
of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an
adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall
appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which shall
give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent
and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment, provided, however,
that under no circumstances shall the Warrants be adjusted pursuant to this Section 4.10, as a result of any issuance of securities in
connection with the Business Combination. The Company shall adjust the terms of the Warrants in a manner that is consistent with any
adjustment recommended in such opinion.

 

4.11
No Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a result of an adjustment
to the conversion ratio of the Class B Common Stock into shares of Common Stock or the conversion of the shares of Class B Common Stock
into shares of Common Stock, in each case, pursuant to the Company’s Amended and Restated Certificate of Incorporation, as further
amended from time to time.

 

5.
Transfer and Exchange of Warrants.

 

5.1.
Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the
Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures, in the case of certificated Warrants,
properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal
aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated
Warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

5.2.
Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, either in certificated form or in book
entry position, together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor
one or more new Warrants, or book entry positions, as requested by the registered holder of the Warrants so surrendered, representing
an equal aggregate number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive
legend, the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange therefor until the Warrant Agent has received
an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a
restrictive legend.

 

    	8

     

    

 

5.3.
Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result
in the issuance of a warrant certificate or book-entry position for a fraction of a Warrant.

 

5.4.
Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5.
Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with
the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever
required by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

5.6.
Private Warrants and Working Capital Warrants. The Warrant Agent shall not register any transfer of Private Warrants or Working
Capital Warrants until 30 days after the consummation by the Company of an initial Business Combination, except for transfers (i) among
the initial shareholders or to the initial shareholders’ or the Company’s officers, directors, consultants or their affiliates,
(ii) to a holder’s shareholders or members upon the holder’s liquidation, in each case if the holder is an entity, (iii)
by bona fide gift to a member of the holder’s immediate family or to a trust, the beneficiary of which is the holder or a member
of the holder’s immediate family, in each case for estate planning purposes, (iv) by virtue of the laws of descent and distribution
upon death, (v) pursuant to a qualified domestic relations order, (vi) to the Company for no value for cancellation in connection with
the consummation of a Business Combination, (vii) in connection with the consummation of a Business Combination by private sales at prices
no greater than the price at which the Private Warrants were originally purchased, (viii) in the event of the Company’s liquidation
prior to its consummation of an initial Business Combination or (ix) in the event that, subsequent to the consummation of an initial
Business Combination, the Company completes a liquidation, merger, share exchange or other similar transaction which results in all of
the Company’s shareholders having the right to exchange their Common Stock for cash, securities or other property, in each case
(except for clauses (vi), (viii) or (ix) or with the Company’s prior written consent) on the condition that prior to such registration
for transfer, the Warrant Agent shall be presented with written documentation pursuant to which each transferee (each, a “Permitted
Transferee”) or the trustee or legal guardian for such transferee agrees to be bound by the transfer restrictions contained
in this section and any other applicable agreement the transferor is bound by.

 

5.7.
Transfers prior to Detachment. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together
with the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange
of such Unit. Furthermore, each transfer of a Unit on the register relating to such Public Units shall operate also to transfer the Warrants
included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.7 shall have no effect on any transfer of Warrants
on or after the Detachment Date.

 

6.
Redemption.

 

6.1.
Redemption. Subject to Section 6.4 hereof, not less than all of the outstanding Warrants may be redeemed, at the option
of the Company, at any time during the Exercise Period, at the office of the Warrant Agent, upon the notice referred to in Section 6.2,
at the price of $0.01 per Warrant (“Redemption Price”), provided that the closing price of the Common Stock equals
or exceeds $18.00 per share (subject to adjustment in accordance with Section 4 hereof), on each of twenty (20) trading days within any
thirty (30) trading day period commencing after the Warrants become exercisable and ending on the third trading day prior to the date
on which notice of redemption is given and provided that there is an effective registration statement covering the shares of Common Stock
issuable upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day redemption or the
Company has elected to require the exercise of the Warrants on a “cashless basis” pursuant to subsection 3.3.1(b);
provided, however, that if and when the Public Warrants become redeemable by the Company, the Company may not exercise such redemption
right if the issuance of shares of Common Stock upon exercise of the Public Warrants is not exempt from registration or qualification
under applicable state blue sky laws or the Company is unable to effect such registration or qualification.

 

    	9

     

    

 

6.2.
Date Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants that are subject
to redemption, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall
be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date to the registered
holders of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the
manner herein provided shall be conclusively presumed to have been duly given whether or not the registered holder received such notice.

 

6.3.
Exercise After Notice of Redemption. The Public Warrants may be exercised, for cash (or on a “cashless basis”
in accordance with Section 3 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant
to Section 6.2 hereof and prior to the Redemption Date. In the event the Company determines to require all holders of Public Warrants
to exercise their Warrants on a “cashless basis” pursuant to Section 3.3.1(b), the notice of redemption will contain
the information necessary to calculate the number of shares of Common Stock to be received upon exercise of the Warrants, including the
“Fair Market Value” in such case. On and after the Redemption Date, the record holder of the Warrants shall have no
further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

7.
Other Provisions Relating to Rights of Holders of Warrants.

 

7.1.
No Rights as Stockholder. A Warrant does not entitle the registered holder thereof to any of the rights of a stockholder of the
Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote
or to consent or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors of the Company
or any other matter.

 

7.2.
Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant
Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated
Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated,
or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3.
Reservation of Shares of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but
unissued shares of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to
this Agreement.

 

7.4.
Registration of Shares of Common Stock. The Company agrees that as soon as practicable after the closing of its initial Business
Combination, it shall use its best efforts to file with the Securities and Exchange Commission a registration statement for the registration,
under the Act, of the Common Stock issuable upon exercise of the Warrants, and it shall use its best efforts to take such action as is
necessary to register or qualify for sale, in those states in which the Warrants were initially offered by the Company and in those states
where holders of Warrants then reside, the Common Stock issuable upon exercise of the Warrants, to the extent an exemption is not available.
The Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement,
and a current prospectus relating thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement.
If any such registration statement has not been declared effective by the 90th day following the closing of the Business Combination,
holders of the Warrants shall have the right, during the period beginning on the 91st day after the closing of the Business Combination
and ending upon such registration statement being declared effective by the Securities and Exchange Commission, and during any other
period when the Company shall fail to have maintained an effective registration statement covering the shares of Common Stock issuable
upon exercise of the Warrants, to exercise such Warrants on a “cashless basis” as determined in accordance with Section
3.3.1(c). The Company shall provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm
with securities law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance with this Section 7.4
is not required to be registered under the Act and (ii) the shares of Common Stock issued upon such exercise will be freely tradable
under U.S. federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of the Company
and, accordingly, will not be required to bear a restrictive legend. For the avoidance of any doubt, unless and until all of the Warrants
have been exercised on a cashless basis, the Company shall continue to be obligated to comply with its registration obligations under
the first three sentences of this Section 7.4. The provisions of this Section 7.4 may not be modified, amended, or deleted without the
prior written consent of the Representative.

 

    	10

     

    

 

8.
Concerning the Warrant Agent and Other Matters.

 

8.1.
Payment of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or
the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the Company shall
not be obligated to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.

 

8.2.
Resignation, Consolidation, or Merger of Warrant Agent.

 

8.2.1.
Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and
be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company.
If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty
(30) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant
(who shall, with such notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme
Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost.
Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the
laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York,
and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority.
After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations
of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed;
but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of
the Company, an instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant
Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all
instruments in writing for more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers,
rights, immunities, duties, and obligations.

 

8.2.2.
Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof
to the predecessor Warrant Agent and the transfer agent for the shares of Common Stock not later than the effective date of any such
appointment.

 

8.2.3.
Merger or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant
Agent under this Agreement without any further act.

 

    	11

     

    

 

8.3.
Fees and Expenses of Warrant Agent.

 

8.3.1.
Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder
and will reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of
its duties hereunder.

 

8.3.2.
Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged,
and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the
carrying out or performing of the provisions of this Agreement.

 

8.4.
Liability of Warrant Agent.

 

8.4.1.
Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it
necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder,
such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved
and established by a statement signed by the Chief Executive Officer, Chief Financial Officer, Secretary or Chairman of the Board of
Directors of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered
in good faith by it pursuant to the provisions of this Agreement.

 

8.4.2.
Indemnity. The Warrant Agent shall be liable hereunder only for its own fraud, gross negligence, willful misconduct or bad faith.
The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and
reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except as a result of the
Warrant Agent’s fraud, gross negligence, willful misconduct, or bad faith.

 

8.4.3.
Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the
validity or execution of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company
of any covenant or condition contained in this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required
under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining
of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation
or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement, the Amended
and Restated Certificate of Incorporation of the Company, or any Warrant or as to whether any shares of Common Stock will, when issued,
be valid and fully paid and nonassessable.

 

8.5.
Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same
upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants
exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of shares of
Common Stock through the exercise of Warrants.

 

9.
Miscellaneous Provisions.

 

9.1.
Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall
bind and inure to the benefit of their respective successors and assigns.

 

9.2.
Notices. Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder
of any Warrant to or on the Company shall be sufficiently given (i) if by email when the email is sent, (ii) if by hand or overnight
delivery, when so delivered, or (iii) if sent by certified mail or private courier service within five (5) days after deposit of such
notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

Aesther
Healthcare Acquisition Corp.

515
Madison Ave. Suite 8078

New
York, New York 10022

Attn:
Suren Ajjarapu, Chief Executive Officer

E-mail:
Suren@aestherhealthcarespac.com

 

    	12

     

    

 

Any
notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on
the Warrant Agent shall be sufficiently given (i) if by email, when the email is sent, (ii) if by hand or overnight delivery, when so
delivered, or (iii) if sent by certified mail or private courier service within five days after deposit of such notice, postage prepaid,
addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental
Stock Transfer & Trust Company, LLC

1
State Street, 30th Floor

New
York, NY 10004

Attn:
Compliance Department

 

with
a copy in each case to:

 

The
Loev Law Firm, PC

Attn:
David M. Loev, Esq.

6300
West Loop South, Suite 280

Bellaire,
Texas 77401

Email:
dloev@loevlaw.com

 

9.3.
Applicable Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects
by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the
substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising out of or
relating in any way to this Agreement shall 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. The Company hereby waives any objection that such courts represent an inconvenient forum.
Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail,
return receipt requested, postage prepaid, addressed to it at the address set forth in Section 9.2 hereof. Such mailing shall be deemed
personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

9.4.
Persons Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the
provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto
and the registered holders of the Warrants and, for the purposes of Sections 7.4, 9.4 and 9.8 hereof, the Representative, any right,
remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement hereof.
The Representative shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 7.4, 9.4 and 9.8 hereof.
All covenants, conditions, stipulations, promises, and agreements contained in this Warrant Agreement shall be for the sole and exclusive
benefit of the parties hereto (and the Representative with respect to the Sections 7.4, 9.4 and 9.8 hereof) and their successors and
assigns and of the registered holders of the Warrants.

 

9.5.
Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the
Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant
Agent may require any such holder to submit his Warrant for inspection by it.

 

9.6.
Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts
shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

9.7.
Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect
the interpretation thereof.

 

    	13

     

    

 

9.8
Amendments. This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of
curing any ambiguity, or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other
provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that
the parties deem shall not adversely affect the interest of the registered holders. All other modifications or amendments, including
any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the written consent or vote of the registered
holders of (i) a majority of the then outstanding Public Warrants if such modification or amendment is being undertaken prior to, or
in connection with, the consummation of a Business Combination or (ii) a majority of the then outstanding Warrants if such modification
or amendment is being undertaken after the consummation of a Business Combination. Notwithstanding the foregoing, the Company may lower
the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of
the registered holders. The provisions of this Section 9.8 may not be modified, amended or deleted without the prior written consent
of the Representative.

 

9.9
Trust Account Waiver. The Warrant Agent acknowledges and agrees that it shall not make any claims or proceed against the trust
account established by the Company in connection with the Public Offering (as more fully described in the Registration Statement) (“Trust
Account”), including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance.
In the event that the Warrant Agent has a claim against the Company under this Agreement, the Warrant Agent will pursue such claim solely
against the Company and not against the property held in the Trust Account.

 

9.10
Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof
shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any
such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

[signature
page follows]

 

    	14

     

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	 	AESTHER
    HEALTHCARE ACQUISITION CORP. 
	 	 	 
	 	By:	/s/
    Suren Ajjarapu
	 	Name:	Suren
    Ajjarapu
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	CONTINENTAL
    STOCK TRANSFER & TRUST CO.
	 	 	 
	 	By:	/s/
    Erika Young
	 	Name:	Erika
Young
	 	Title:	Vice
    President 9/14/21

 

[Signature
Page to Warrant Agreement]

 

    	15

     

    

 

EXHIBIT
A

 

	NUMBER

    ________-
	 	(SEE
                                            REVERSE SIDE FOR LEGEND)

    THIS
    WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO THE EXPIRATION DATE (DEFINED BELOW)
	 	WARRANTS

 

AESTHER
HEALTHCARE ACQUISITION CORP.

 

CUSIP
[____________]

 

WARRANT

 

THIS
CERTIFIES THAT, for value received

 

is
the registered holder of a warrant or warrants (the “Warrant(s)”) of Aesther Healthcare Acquisition Corp., a Delaware
corporation (the “Company”), expiring at 5:00 p.m., New York City time, on the five year anniversary of the Company’s
completion of an initial merger, business combination, capital share exchange, asset acquisition, stock purchase, recapitalization, reorganization
or other similar business combination with one or more businesses or entities (a “Business Combination”), to purchase
one fully paid and non-assessable share of common stock, par value $0.0001 per share (“Shares”), of the Company for
each whole Warrant evidenced by this Warrant Certificate. The Warrant entitles the holder thereof to purchase from the Company, commencing
on the later of (a) 30 days after the Company’s completion of an initial Business Combination, and (b) 12 months from the closing
of the Company’s initial public offering (“IPO”), such number of Shares of the Company at the Warrant Price
(as defined below), upon surrender of this Warrant Certificate and payment of the Warrant Price at the office or agency of Continental
Stock Transfer & Trust Company (the “Warrant Agent”), but only subject to the conditions set forth herein and
in the Warrant Agreement between the Company and Continental Stock Transfer & Trust Company. In no event will the Company be required
to net cash settle any warrant exercise. The term “Warrant Price” as used in this Warrant Certificate refers to the
price per Share at which Shares may be purchased at the time the Warrant is exercised. The initial Warrant Price per Share is equal to
$11.50 per share. The Warrant Agreement provides that upon the occurrence of certain events the Warrant Price, the Redemption Trigger
Price (as defined below), and the number of Shares purchasable hereunder, set forth on the face hereof, may, subject to certain conditions,
be adjusted.

 

No
fraction of a Share will be issued upon any exercise of a Warrant. If the holder of a Warrant would be entitled to receive a fraction
of a Share upon any exercise of a Warrant, the Company shall, upon such exercise, round up to the nearest whole number the number of
Shares to be issued to such holder.

 

Upon
any exercise of the Warrant for less than the total number of full Shares provided for herein, there shall be issued to the registered
holder hereof or the registered holder’s assignee a new Warrant Certificate covering the number of Shares for which the Warrant
has not been exercised.

 

Warrant
Certificates, when surrendered at the office or agency of the Warrant Agent by the registered holder in person or by attorney duly authorized
in writing, may be exchanged in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any
service charge, for another Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of
Warrants.

 

Upon
due presentment for registration of transfer of the Warrant Certificate at the office or agency of the Warrant Agent, a new Warrant Certificate
or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee in
exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any applicable
tax or other governmental charge.

 

The
Company and the Warrant Agent may deem and treat the registered holder as the absolute owner of this Warrant Certificate (notwithstanding
any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the
registered holder, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

This
Warrant does not entitle the registered holder to any of the rights of a stockholder of the Company.

 

The
Company reserves the right to call the Warrant at any time prior to its exercise with a notice of call in writing to the holders of record
of the Warrant, giving at least 30 days’ notice of such call, at any time while the Warrant is exercisable, if the last sale price
of the Shares has been at least $18.00 per share (the “Redemption Trigger Price”) on each of 20 trading days within
any 30 trading day period (the “30-day trading period”) ending on the third business day prior to the date on which
notice of such call is given and if, and only if, there is a current registration statement in effect with respect to the Shares underlying
the Warrants for the entire 30-day trading period and continuing each day thereafter until the date of redemption. The call price of
the Warrants is to be $0.01 per Warrant. Any Warrant either not exercised or tendered back to the Company by the end of the date specified
in the notice of call shall be canceled on the books of the Company and have no further value except for the $0.01 call price.

 

	By	 	 	 
	 	 	 	 
	 	 	 	 
	 	President	 	Secretary

 

    	16

     

    

 

SUBSCRIPTION
FORM

 

To
Be Executed by the Registered Holder in Order to Exercise Warrants

 

The
undersigned Registered Holder irrevocably elects to exercise ______________ Warrants represented by this Warrant Certificate, and to
purchase the Common Stock issuable upon the exercise of such Warrants, and requests that Certificates for such shares shall be issued
in the name of

 

	 
	(PLEASE
    TYPE OR PRINT NAME AND ADDRESS)
	 
	 
	 

(SOCIAL
SECURITY OR TAX IDENTIFICATION NUMBER)

	and
    be delivered to 	 

(PLEASE
PRINT OR TYPE NAME AND ADDRESS)

 

	 
	and,
    if such number of Warrants shall not be all the Warrants evidenced by this Warrant Certificate, that a new Warrant Certificate for
    the balance of such Warrants be registered in the name of, and delivered to, the Registered Holder at the address stated below:

 

	Dated:
    	 	 	 
	 	(SIGNATURE)
	 	 
	 	(ADDRESS)
	 	 
	 	 
	 	 
	 	(TAX
    IDENTIFICATION NUMBER)

 

    	17

     

    

 

ASSIGNMENT

 

To
Be Executed by the Registered Holder in Order to Assign Warrants

 

For
Value Received, _______________________ hereby sell, assign, and transfer unto

 

	 
	(PLEASE
    TYPE OR PRINT NAME AND ADDRESS)
	 
	 
	 

(SOCIAL
SECURITY OR TAX IDENTIFICATION NUMBER)

	and
    be delivered to 	 

(PLEASE
PRINT OR TYPE NAME AND ADDRESS)

 

______________________
of the Warrants represented by this Warrant Certificate, and hereby irrevocably constitute and appoint _________________________________
Attorney to transfer this Warrant Certificate on the books of the Company, with full power of substitution in the premises.

 

	Dated:
    	 	 	 
	 	(SIGNATURE)

 

The
signature to the assignment of the Subscription Form must correspond to the name written upon the face of this Warrant Certificate in
every particular, without alteration or enlargement or any change whatsoever, and must be guaranteed by a commercial bank or trust company
or a member firm of the NYSE American, Nasdaq, New York Stock Exchange, Pacific Stock Exchange, or Chicago Stock Exchange.

 

    	18

     

    

 

EXHIBIT
B

 

LEGEND
FOR PRIVATE PLACEMENT WARRANTS AND WORKING CAPITAL WARRANTS

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES
LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS
ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG AESTHER HEALTHCARE ACQUISITION CORP. (THE “COMPANY”),
AESTHER HEALTHCARE SPONSOR, LLC, EF HUTTON AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD
OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION
(AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION
5.6 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES
EVIDENCED BY THIS CERTIFICATE AND SHARES OF CLASS A COMMON STOCK OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED
TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.”

 

    	19

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