Document:

Exhibit 4.4

 

Schedule of Holders

of

Warrants to Purchase Series B1 Preferred
Stock

Of Rapid Micro Biosystems, Inc.

 

	Holder	 	Number of Shares	 	 	Issuance Date	 	Expiration Date
	Foster & Foster Capital V LLC	 	 	19,354	 	 	December 6, 2017	 	December 6, 2027
	Foster & Foster Capital V LLC	 	 	19,354	 	 	January 17, 2018	 	January 17, 2028
	Longitude Venture Partners II, L.P.	 	 	322,580	 	 	December 6, 2017	 	December 6, 2027
	Longitude Venture Partners II, L.P.	 	 	322,580	 	 	January 17, 2018	 	January 17, 2028
	Mellon Family Investment Company V	 	 	64,516	 	 	December 6, 2017	 	December 6, 2027
	Mellon Family Investment Company V	 	 	64,516	 	 	January 17, 2018	 	January 17, 2028
	Quaker Bioventures II, L.P.	 	 	64,516	 	 	December 6, 2017	 	December 6, 2027
	Quaker Bioventures II, L.P.	 	 	64,516	 	 	January 17, 2018	 	January 17, 2028
	Richard King Mellon Foundation	 	 	64,516	 	 	December 6, 2017	 	December 6, 2027
	Richard King Mellon Foundation	 	 	64,516	 	 	January 17, 2018	 	January 17, 2028
	TVM Life Science Ventures VI GmbH & Co. K.G.	 	 	48,048	 	 	December 6, 2017	 	December 6, 2027
	TVM Life Science Ventures VI GmbH & Co. K.G.	 	 	48,048	 	 	January 17, 2018	 	January 17, 2028
	TVM Life Science Ventures VI, L.P.	 	 	16,467	 	 	December 6, 2017	 	December 6, 2027
	TVM Life Science Ventures VI, L.P.	 	 	16,467	 	 	January 17, 2018	 	January 17, 2028

 

    

     

    

 

THIS WARRANT AND THE SECURITIES ISSUABLE
UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED
FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT
OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT.

 

	Date of Issuance: [               ]	 	Void after [           ], unless earlier terminated pursuant to the terms hereof 

 

RAPID MICRO BIOSYSTEMS, INC.

WARRANT TO PURCHASE SHARES OF PREFERRED STOCK

 

This Warrant is issued
to [                ] or its assigns (the “Holder”) by Rapid Micro Biosystems, Inc., a Delaware corporation (the “Company”),
pursuant to that certain Note and Warrant Purchase Agreement dated December 6, 2017 among the Company, the Holder and certain
other investors, as the same may be amended, restated or otherwise modified from time to time (the “Purchase Agreement”).
Unless otherwise defined herein or in the Purchase Agreement, capitalized terms shall have the following meanings:

 

“Conversion
Shares” shall mean (a) shares of such series of Preferred Stock as are issued in the Next Equity Financing if the
Next Equity Financing is consummated on or prior to December 6, 2018; or (b) shares of Series A1 Preferred Stock
if the Next Equity Financing has not been consummated on or prior to December 6, 2018.

 

“Corporate Transaction”
shall mean (A) the closing of the sale, transfer or other disposition of all or substantially all of the Company’s assets,
(B) the consummation of the merger or consolidation of the Company with or into another entity (except a merger or consolidation
in which the holders of capital stock of the Company immediately prior to such merger or consolidation continue to hold at least
50% of the voting power of the capital stock of the Company or the surviving or acquiring entity), or (C) the closing of the
transfer (whether by merger, consolidation or otherwise), in one transaction or a series of related transactions, to a person or
group of affiliated persons (other than an underwriter of this corporation’s securities), of the Company’s securities
if, after such closing, such person or group of affiliated persons would hold 50% or more of the outstanding voting stock of this
corporation (or the surviving or acquiring entity); provided, however, that a transaction shall not constitute a
Corporate Transaction if its sole purpose is to change the state of the Company’s incorporation or to create a holding company
that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately prior
to such transaction. Notwithstanding the prior sentence, the sale of shares of Preferred Stock in a bona fide financing transaction
shall not be deemed a Corporate Transaction.

 

    

     

    

 

“Exercise Price”
shall mean $0.01 (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar
event with respect to the Preferred Stock).

 

 

“Next Equity
Financing” shall mean the next sale (or series of related sales) by the Company of its Preferred Stock following the
Original Date of Issuance from which the Company receives aggregate gross proceeds of not less than $10,000,000 (excluding the
aggregate amount of any indebtedness of the Company converted into Preferred Stock in the Next Equity Financing).

 

“Next Round
Price” shall mean the price per share of Preferred Stock paid by the investors in the Next Equity Financing (excluding,
if applicable, any discounts applied to the purchase price of any Preferred Stock issued in the Next Equity Financing upon conversion
or cancellation of indebtedness).

 

“Original Date
of Issuance” shall mean December 6, 2017.

 

“Preferred Stock”
shall mean the Company’s preferred stock, $0.01 par value per share.

 

“Series A1
Preferred Stock” shall mean the Company’s Series A1 Preferred Stock, $0.01 par value per share.

 

Warrant Price”
shall mean: (a) if this Warrant is exercised or converted into Preferred Stock in the Next Equity Financing, the Next Round
Price; or (b) if this Warrant is exercised or converted into Series A1 Preferred Stock, $1.00 (subject to appropriate
adjustment in the event of any stock dividend, stock split, combination or other similar event with respect to the Series A1
Preferred Stock).

 

1.          Purchase
of Shares; Number of Conversion Shares and Exercise Price. Subject to the terms and conditions set forth herein, the Holder
is entitled, upon surrender of this Warrant at the principal office of the Company (or at such other place as the Company shall
notify the Holder in writing), to purchase from the Company up to a number of fully paid and nonassessable Conversion Shares equal
to $[             ] divided by the Warrant Price. The Conversion Shares and the Exercise Price of the Conversion Shares shall be subject to
adjustment pursuant to Section 6 hereof.

 

2.          Exercise
Period; Termination. Unless earlier terminated pursuant to the terms hereof, this Warrant shall be exercisable, in whole or
in part, during the period commencing on the Original Date of Issuance and ending at 5:00 p.m. pacific time on December 6,
2027 (the “Exercise Period”). In the event that this Warrant has not been otherwise terminated pursuant to
this Section 2, upon the expiration of the Exercise Period, if the fair market value of one Conversion Share (or other
security issuable upon the exercise hereof) as determined in accordance with Section 4 below is greater than the Exercise
Price in effect on such date, then this Warrant, to the extent then exercisable, shall automatically be deemed on and as of such
date to be exercised pursuant to Section 4 below as to all Conversion Shares (or such other securities) for which
it shall not have been previously exercised, and the Company shall, within a reasonable time, deliver a certificate representing
the Conversion Shares (or such other securities) issued upon such exercise to Holder.

 

    2

     

    

 

3.            Method
of Exercise.

 

(a)          While
this Warrant remains outstanding and exercisable in accordance with Section 2 above, the Holder may exercise, in whole
or in part, the purchase rights evidenced hereby. Such exercise shall be effected by:

 

(i)           the
surrender of the Warrant, together with a duly executed copy of the Notice of Exercise attached hereto, to the Secretary of the
Company at its principal office (or at such other place as the Company shall notify the Holder in writing); and

 

(ii)          the
payment to the Company of an amount equal to the aggregate Exercise Price for the number of Conversion Shares being purchased.

 

(b)           Each
exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the day on which this
Warrant is surrendered to the Company as provided in Section 3(a) above. At such time, the person or persons in
whose name or names any certificate for the Conversion Shares shall be issuable upon such exercise as provided in Section 3(c) below
shall be deemed to have become the holder or holders of record of the Conversion Shares represented by such certificate.

 

(c)           As
soon as practicable after the exercise of this Warrant in whole or in part, and in any event within twenty (20) days thereafter,
the Company at its expense will cause to be issued in the name of, and delivered to, the Holder, or as such Holder (upon payment
by such Holder of any applicable transfer taxes) may direct:

 

(i)             a
certificate or certificates for the number of Conversion Shares to which such Holder shall be entitled, and

 

(ii)           in
case such exercise is in part only, a new warrant or warrants (dated the date hereof) of like tenor, calling in the aggregate on
the face or faces thereof for the number of Conversion Shares equal to the number of such Conversion Shares called for on the face
of this Warrant minus the number of Conversion Shares purchased by the Holder upon all exercises made in accordance with Section 3(a) above
or Section 4 below.

 

4.           Net
Exercise. In lieu of exercising this Warrant for cash, the Holder may elect to receive shares equal to the value of this Warrant
(or the portion thereof being exercised) by surrender of this Warrant at the principal office of the Company together with notice
of such election (a “Net Exercise”). A Holder who Net Exercises shall have the rights described in Sections
3(b) and 3(c) hereof, and the Company shall issue to such Holder a number of Conversion Shares computed using
the following formula:

 

 

    3

     

    

 

		Where	

 

		X =	The number of Conversion Shares to be issued to the Holder.

 

		Y =	The number of Conversion Shares purchasable under this Warrant or, if only a portion of the Warrant
is being exercised, the portion of the Warrant being cancelled (at the date of such calculation).

 

		A =	The fair market value of one (1) Conversion Share (at the date of such calculation).

 

		B =	The Exercise Price (as adjusted to the date of such calculations).

 

For purposes of this
Section 4, the fair market value of a Conversion Share shall mean the average of the closing price of the Conversion
Shares (or equivalent shares of Common Stock underlying the Conversion Shares) quoted in the over-the-counter market in which the
Conversion Shares (or equivalent shares of Common Stock underlying the Conversion Shares) are traded or the closing price quoted
on any exchange or electronic securities market on which the Conversion Shares (or equivalent shares of Common Stock underlying
the Warrants) are listed, whichever is applicable, as published in The Wall Street Journal for the five (5) trading
days prior to the date of determination of fair market value (or such shorter period of time during which such Conversion Shares
were traded over-the-counter or on such exchange). In the event that this Warrant is exercised pursuant to this Section 4
in connection with the Company’s first underwritten public offering pursuant to an effective registration statement under
the Securities Act of 1933, as amended (the “IPO”), the fair market value per Conversion Share shall be the
product of (a) the per share offering price to the public of the IPO, and (b) the number of shares of Common Stock into
which each Conversion Share is convertible at the time of such exercise or, if the Conversion Shares are shares of Common Stock,
one. In the event that this Warrant is exercised not in connection with the IPO and the Conversion Shares are not traded on the
over-the-counter market, an exchange or an electronic securities market, the fair market value shall be the price per Conversion
Share that the Company could obtain from a willing buyer for Conversion Shares sold by the Company from authorized but unissued
Conversion Shares, as such prices shall be determined in reasonable good faith by the Company’s Board of Directors.

 

5.           Covenants
of the Company.

 

(a)           Notices
of Record Date. In the event of any taking by the Company of a record of the holders of any class of securities for the purpose
of determining the holders thereof who are entitled to receive any dividend (other than a cash dividend which is the same as cash
dividends paid in previous quarters or a stock dividend) or other distribution, the Company shall mail to the Holder, at least
ten (10) days prior to such record date, a notice specifying the date on which any such record is to be taken for the purpose
of such dividend or distribution.

 

(b)          Covenants
as to Exercise Shares. The Company covenants and agrees that all Conversion Shares that may be issued upon the exercise of
the rights represented by this Warrant will, upon issuance in accordance with the terms hereof, be validly issued and outstanding,
fully paid and nonassessable, and free from all taxes, liens and charges with respect to the issuance thereof. The Company further
covenants and agrees that the Company will at all times during the Exercise Period have authorized and reserved, free from preemptive
rights, a sufficient number of shares of its Preferred Stock to provide for the exercise of the rights represented by this Warrant.
If at any time during the Exercise Period the number of authorized but unissued shares of Preferred Stock shall not be sufficient
to permit exercise of this Warrant, the Company will take such corporate action as may, in the opinion of its counsel, be necessary
to increase its authorized but unissued shares of Preferred Stock to such number of shares as shall be sufficient for such purposes.

 

    4

     

    

 

6.           Adjustment
of Exercise Price and Number of Conversion Shares. The number and kind of Conversion Shares purchasable upon exercise of this
Warrant and the Exercise Price shall be subject to adjustment from time to time as follows:

 

(a)           Subdivisions,
Combinations and Other Issuances. If the Company shall at any time after the issuance but prior to the expiration of this Warrant
subdivide its Preferred Stock, by split-up or otherwise, or combine its Preferred Stock, or issue additional shares of its Preferred
Stock or Common Stock as a dividend with respect to any shares of its Preferred Stock, the number of Conversion Shares issuable
on the exercise of this Warrant shall forthwith be proportionately increased in the case of a subdivision or stock dividend, or
proportionately decreased in the case of a combination. Appropriate adjustments shall also be made to the Exercise Price payable
per share, but the aggregate Exercise Price payable for the total number of Conversion Shares purchasable under this Warrant (as
adjusted) shall remain the same. Any adjustment under this Section 6(a) shall become effective at the close of
business on the date the subdivision or combination becomes effective, or as of the record date of such dividend, or in the event
that no record date is fixed, upon the making of such dividend.

 

(b)           Reclassification,
Reorganization and Consolidation. In case of any reclassification, capital reorganization or change in the capital stock of
the Company (other than as a result of a subdivision, combination or stock dividend provided for in Section 6(a) above),
then, as a condition of such reclassification, reorganization or change, lawful provision shall be made, and duly executed documents
evidencing the same from the Company or its successor shall be delivered to the Holder, so that the Holder shall have the right
at any time prior to the expiration of this Warrant to purchase, at a total price equal to that payable upon the exercise of this
Warrant, the kind and amount of shares of stock and other securities or property receivable in connection with such reclassification,
reorganization or change by a holder of the same number and type of securities as were purchasable as Conversion Shares by the
Holder immediately prior to such reclassification, reorganization or change. In any such case appropriate provisions shall be made
with respect to the rights and interest of the Holder so that the provisions hereof shall thereafter be applicable with respect
to any shares of stock or other securities or property deliverable upon exercise hereof, and appropriate adjustments shall be made
to the Exercise Price per Conversion Share payable hereunder, provided the aggregate Exercise Price shall remain the same.

 

(c)           Corporate
Transaction. In the event of a Corporate Transaction, pursuant to which the Holder would have been entitled to receive cash
consideration per Conversion Share in an amount greater than the Exercise Price if the Holder had exercised its rights pursuant
to this Warrant immediately prior thereto, the Company shall pay to the Holder, at the closing of such transaction, an amount
equal to (i) the number of Conversion Shares issuable hereunder, multiplied by (ii) the difference of (A) the cash
consideration per Conversion Share that the Holder would have received if it had exercised its rights pursuant to this Warrant
immediately prior to the closing of such transaction, minus (B) the Exercise Price. This Warrant, and all rights of the Holder
hereunder, shall automatically be terminated immediately upon delivery of such payment. If the Holder would have been entitled
to receive cash consideration per Share in an amount equal to or less than the Exercise Price if the Holder had exercised its
rights pursuant to this Warrant immediately prior to any such transaction, then this Warrant, and all rights of the Holder hereunder,
shall automatically be terminated upon the closing of any such transaction.

 

    5

     

    

 

(d)          Adjustments
for Diluting Issuances. Without duplication of any adjustment otherwise provided for in this Section 6, the number
of shares of common stock issuable upon conversion of the Conversion Shares shall be subject to anti-dilution adjustment from time
to time in the manner set forth in the Restated Certificate as if the Conversion Shares were issued and outstanding on and as of
the date of any such required adjustment.

 

(e)           Notice
of Adjustment. When any adjustment is required to be made in the number or kind of shares purchasable upon exercise of the
Warrant, or in the Exercise Price, the Company shall promptly notify the Holder of such event and of the number of Conversion Shares
or other securities or property thereafter purchasable upon exercise of this Warrant.

 

(f)            Conversion
of Preferred Stock. In the event that all outstanding shares of Preferred Stock are converted to Common Stock, or any other
security, in accordance with the terms of the Restated Certificate in connection with the IPO, a Corporate Transaction or other
event, this Warrant shall become exercisable for Common Stock or such other security.

 

7.           No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant, but in lieu of such fractional shares the Company shall make a cash payment therefor on the basis of the Exercise
Price then in effect.

 

8.           No
Stockholder Rights. Other than in respect of the adjustments provided in Section 6 hereof, prior to exercise of
this Warrant, the Holder shall not be entitled to any rights of a stockholder with respect to the Conversion Shares, including
(without limitation) the right to vote such Conversion Shares, receive dividends or other distributions thereon, exercise preemptive
rights or be notified of stockholder meetings, and except as otherwise provided in this Warrant or the Purchase Agreement, such
Holder shall not be entitled to any stockholder notice or other communication concerning the business or affairs of the Company.

 

9.            Notice
of Certain Events. If the Company proposes at any time to:

 

(a)            declare
any dividend or distribution upon the outstanding shares of the Company’s capital stock, whether in cash, property, stock,
or other securities and whether or not a regular cash dividend;

 

(b)           effect
any reclassification, exchange, combination, substitution, reorganization or recapitalization of the outstanding shares of the
Company’s capital stock;

 

(c)            effect
a Corporate Transaction or to liquidate, dissolve or wind up; or

 

(d)            effect
the IPO;

 

    6

     

    

 

then, in connection with each such event, the Company shall
give Holder:

 

 

(i)          at
least seven (7) business days prior written notice of the date on which a record will be taken for such dividend, distribution,
or subscription rights (and specifying the date on which the holders of outstanding shares of the Company’s capital stock
will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) above;

 

(ii)            in
the case of the matters referred to in (b) and (c) above at least seven (7) business days prior written
notice of the date when the same will take place (and specifying the date on which the holders of outstanding shares of the Company’s
capital stock will be entitled to exchange their shares for the securities or other property deliverable upon the occurrence of
such event and such reasonable information as Holder may reasonably require regarding the treatment of this Warrant in connection
with such event giving rise to the notice); and

 

(iii)            with
respect to the IPO, at least seven (7) business days prior written notice of the date on which the Company proposes to file
its registration statement in connection therewith.

 

Company will also provide information requested
by Holder that is reasonably necessary to enable Holder to comply with Holder’s accounting or reporting requirements.

 

10.         Transfer
of Warrant. Subject to compliance with applicable federal and state securities laws, this Warrant and all rights hereunder
are transferable in whole or in part by the Holder to any person or entity upon written notice to the Company. Within a reasonable
time after the Company’s receipt of an executed Assignment Form in the form attached hereto, the transfer shall be recorded
on the books of the Company upon the surrender of this Warrant, properly endorsed, to the Company at its principal offices, and
the payment to the Company of all transfer taxes and other governmental charges imposed on such transfer. In the event of a partial
transfer, the Company shall issue to the new holders one or more appropriate new warrants.

 

11.            Successors
and Assigns. The terms and provisions of this Warrant shall inure to the benefit of, and be binding upon, the Company and the
holders hereof and their respective successors and assigns.

 

12.            Titles
and Subtitles. The titles and subtitles used in this Warrant are used for convenience only and are not to be considered in
construing or interpreting this Warrant.

 

13.           Amendments
and Waivers; Resolution of Controversies; Notices. The amendment or waiver of any term of this Warrant, the resolution of any
controversy or claim arising out of or relating to this Warrant and the provision of any notices under this Warrant shall be conducted
pursuant to the terms of the Purchase Agreement.

 

14.           Severability.
If any provision of this Warrant is held to be unenforceable under applicable law, such provision shall be excluded from this Warrant
and the balance of the Warrant shall be interpreted as if such provision were so excluded and shall be enforceable in accordance
with its terms.

 

    7

     

    

 

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

 

	 	 	RAPID MICRO BIOSYSTEMS, INC.
	 	 	 
	 	 	 
	 	 	By:	/s/ Robert Spignesi
	 	 	 	Robert Spignesi
	 	 	 	President and Chief Executive Officer

 

    8

     

    

 

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

 

	 	 	[ l ]
	 	 	 
	 	 	 
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

    9

     

    

 

NOTICE OF EXERCISE

 

RAPID MICRO BIOSYSTEMS, INC.

 

Attention: Corporate Secretary

 

The undersigned hereby
elects to purchase, pursuant to the provisions of the Warrant, as follows:

 

		 ̈	_____________ Conversion Shares pursuant to the terms of the attached Warrant, and tenders herewith
payment in cash of the Exercise Price of such Conversion Shares in full, together with all applicable transfer taxes, if any.

 

		 ̈	Net Exercise the attached Warrant with respect to __________ Conversion Shares.

 

The undersigned hereby
represents and warrants that “Representations and Warranties” of the undersigned in Section 5 of the Purchase
Agreement are true and correct as of the date hereof.

 

	 	 	 	 	HOLDER:
	 	 	 	 	 
	 	 	 	 	 
	Date:	 	 	 	By: 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	Address:	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	Name in which shares should be registered:	 	 	 
	 	 	 	 
	 	 	 	 

 

    10

     

    

 

ASSIGNMENT
FORM

 

(To assign the foregoing Warrant, execute this form
and supply required information. Do not use this form to purchase shares.)

 

For
Value Received, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 
	 	(Please Print)

 

 

	Address:	 
	 	(Please Print)

 

	Dated: 	 	 

 

 

	Holder’s
	Signature:	 	 

 

 

	Holder’s
	Address:	 	 

 

 

NOTE: The signature to this Assignment
Form must correspond with the name as it appears on the face of the Warrant. Officers of corporations and those acting in
a fiduciary or other representative capacity should provide proper evidence of authority to assign the foregoing Warrant.

 

    11Exhibit 4.5

 

Execution Version

 

NEITHER THIS WARRANT NOR THE SECURITIES
ISSUABLE UPON ITS EXERCISE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED IN
THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER THE ACT AND APPLICABLE LAWS.

 

 

 

	Warrant No. 2020-1	 	Number of Shares: 1,195,652

(subject to adjustment)

 

Date of Issuance: May 14, 2020

 

RAPID MICRO BIOSYSTEMS, INC.

 

PREFERRED STOCK PURCHASE WARRANT

(as amended and restated)

 

Rapid Micro Biosystems, Inc.,
a Delaware corporation (the “Company”), for value received, hereby certifies that Kennedy Lewis Capital
Partners Master Fund II LP and its Affiliates (collectively, “KLIM”) and/or any of their respective assigns
(the “Registered Holder”), is entitled, subject to the terms and conditions set forth in this agreement
(this “Agreement”), to purchase from the Company, in whole or in part, at any time and from time to time
on or after the Date of Issuance and prior to the expiration hereof, 1,195,652 shares of Series C1 Preferred Stock, par value
$0.01 per share, of the Company (the “Preferred Stock”), at an exercise price of $1.15 per share. The
shares of Preferred Stock purchasable upon exercise of this warrant issued to the Registered Holder (this “Warrant”)
and the exercise price per share, each as adjusted from time to time pursuant to the provisions of this Warrant, are hereinafter
referred to as the “Warrant Shares” and the “Exercise Price,” respectively.
 “Affiliates” shall mean, as applied to any person, any other person who controls, is controlled by, or
is under common control with, such person. For purposes of this definition, “control” means the possession,
directly or indirectly through one or more intermediaries, of the power to direct the management and policies of a person, whether
through the ownership of equity, by contract, or otherwise. “Common Stock” shall mean the Company’s
common stock, par value $0.01 and “Convertible Common Stock” shall mean the shares of Common Stock issuable
upon the conversion of the Warrant Shares into shares of Common Stock on the terms set forth in the Seventh Amended and Restated
Certificate of Incorporation of the Company (as amended, amended and restated, or otherwise modified from time to time, the “Charter”).
The Company and KLIM acknowledge and agree that this Warrant amends and restates in its entirety and replaces that certain Preferred
Stock Purchase Warrant originally issued by the Company to KLIM on May 14, 2020.

 

1.            Exercise.

 

(a)            This
Warrant may be exercised, in whole or in part at any time and from time to time, by the Registered Holder by surrendering this
Warrant, along with the purchase form appended hereto as Exhibit A duly executed and completed by the Registered Holder
or by the Registered Holder’s duly authorized representative, at the principal office of the Company, or at such other office
or agency as the Company may designate by notice in writing to the Registered Holder, accompanied by either (i) cash or certified
cashier’s check payable to the Company (or wire transfer of immediately available funds), in lawful money of the United
States, of the Exercise Price payable in respect of the number of Warrant Shares purchased upon such exercise (the “Aggregate
Exercise Price”); or (ii) a written notice to the Company that the Registered Holder is exercising this Warrant
on a “cashless” exercise basis by authorizing the Company to withhold from issuance a number of shares of Preferred
Stock issuable upon such exercise of the Warrant which, when multiplied by the Fair Market Value of the Preferred Stock (or Common
Stock, as applicable), is equal to the Aggregate Exercise Price (and such withheld shares shall no longer be issuable under this
Warrant).

 

    1

     

    

 

(b)            Each
exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the day on which this
Warrant shall have been surrendered to the Company as provided in Section 1(a) above (the “Exercise
Date”), and the party entitled to receive the Preferred Stock issuable upon such exercise shall be treated for all
purposes as the holder of record of such Preferred Stock (or, if the Registered Holder elects to immediately convert the Warrant
Shares into shares of Convertible Common Stock, the holder of record of such shares of Convertible Common Stock) as of the close
of business on such date.

 

(c)           Within
three (3) business days after the date of exercise of this Warrant, the Company, at its expense, will cause to be issued in
the name of, and delivered to, the Registered Holder, or as such Registered Holder (upon payment by such Registered Holder of any
applicable transfer taxes) may direct, a certificate or certificates for the number of full Warrant Shares to which the Registered
Holder shall be entitled upon such exercise plus, in lieu of any fractional share to which the Registered Holder would otherwise
be entitled, cash in an amount determined pursuant to Section 4 hereof; provided, however, that the Company
shall not be required to pay any tax that may be payable in respect of any transfer involving the issuance and delivery of any
such certificate upon exercise in a name other than that of the Registered Holder. Notwithstanding the foregoing, the Registered
Holder shall be solely responsible for any income taxes payable and arising from the issuance or exercise of this Warrant, or any
ad valorem property or intangible tax assessed against the Registered Holder.

 

(d)        The
Company shall assist and cooperate with any Registered Holder required to make any governmental filings or obtain any governmental
approvals prior to or in connection with any exercise of this Warrant (including, without limitation, making any filings required
to be made by the Company, which shall be at the Company’s sole cost and expense).

 

(e)            Notwithstanding
any other provision of this Warrant, if the exercise of all or any portion of this Warrant is to be made in connection with an
IPO (as defined below), Change of Control (as defined below), or any other transaction or event, such exercise may, at the election
of the Registered Holder, be conditioned upon consummation of such transaction or event and in which case such exercise shall not
be deemed effective until the consummation of such transaction or event.

 

2.          Adjustments.
The Exercise Price and number of Warrant Shares purchasable hereunder (and as a result the number of shares of the Convertible
Common Stock issuable hereunder in lieu of Warrant Shares) shall be subject to adjustment from time to time as provided in this
Section 2.

 

    2

     

    

 

(a)            Adjustment
for Reclassification, Exchange and Substitution. If the Company shall at any time on or after the date on which this Warrant
was first issued to the Registered Holder (the “Original Issue Date”), while this Warrant remains outstanding
in whole or in part, by reclassification of securities or otherwise, change any of the securities as to which purchase rights under
this Warrant exist into the same or a different number of securities of any other class or classes, this Warrant shall thereafter
represent the right to acquire such number and kind of securities as would have been issuable as the result of such change with
respect to the securities that were subject to the purchase rights under this Warrant immediately prior to such reclassification
or other change, and the Exercise Price shall be appropriately adjusted, subject to further adjustment as provided in this Section 2.
Any adjustment under this paragraph shall become effective at the close of business on the date the subdivision or combination
becomes effective.

 

(b)           Adjustment
for Stock Splits and Combinations. If the Company shall at any time on or after the Original Issue Date, while this Warrant
remains outstanding in whole or in part, (i) split, subdivide or combine the securities as to which purchase rights under
this Warrant exist, into a different number of securities of the same class, or (ii) issue additional securities as a dividend
with respect to any shares of its Preferred Stock, the number of shares of Preferred Stock subject hereto shall be proportionately
adjusted and the Exercise Price, in the case of a split or subdivision, shall be proportionately decreased and, in the case of
a combination or issuance of dividends, shall be proportionately increased, such that this Warrant shall represent the right to
acquire the same number of shares of Preferred Stock (or, for the avoidance of doubt, if elected by the Registered Holder, the
same number of shares of Convertible Common Stock) as would have been issuable immediately prior to such part, split, subdivision,
combination, or issuance of dividends, without any increase in the amount of consideration paid therefor.

 

(c)             Conversion
Rate. Without duplication of any adjustment otherwise provided for in this Section 2, any events or circumstances
that result in an adjustment to (i) the Series C1 Conversion Price (as defined in the Charter) of the Preferred Stock
or (ii) the number of shares of Convertible Common Stock, in each case as provided for in Article Fourth, Part B,
Section 4 of the Charter, shall be given effect upon the exercise of this Warrant as if the Warrant Shares were issued and
outstanding on and as of the date of any such required adjustment.

 

(d)             Conversion
of Preferred Stock. In the event that all outstanding shares of Preferred Stock are converted to Common Stock, or any other
security, in accordance with the terms of the Charter in connection with the Company’s first underwritten public offering
pursuant to an effective registration statement under the Act (an “IPO”), Change of Control, or other
event, this Warrant shall automatically become exercisable for Common Stock or such other security.

 

(e)             Certificates
as to Adjustments.

 

(i)            Upon
the occurrence of each adjustment or readjustment of the Exercise Price and number of Warrant Shares pursuant to this Section 2,
the Company at its expense shall promptly compute such adjustment or readjustment in accordance with the terms hereof and promptly
furnish to the Registered Holder a certificate setting forth such adjustment or readjustment (including the kind and amount of
securities, cash or other property for which this Warrant shall be exercisable and the Exercise Price) and showing in detail the
facts upon which such adjustment or readjustment is based, and shall cause a copy of such certificate to be sent by electronic
mail or mailed (by first-class mail, postage prepaid) to the Registered Holder in accordance with the notice provisions of Section 13
hereof.

 

    3

     

    

 

(ii)            The
Company shall, upon the written request at any time of the Registered Holder, promptly furnish or cause to be furnished to the
Registered Holder a certificate setting forth (A) the Exercise Price then in effect and (B) the number of shares of Preferred
Stock, Convertible Common Stock and the amount, if any, of other securities, cash or property which then would be received upon
the exercise of this Warrant and any rights under the Preferred Stock, and shall cause a copy of such certificate to be distributed
to the Registered Holder.

 

3.            Treatment
of Warrant Upon a Change of Control. The Company shall give the Registered Holder written notice at least ten (10) business
days prior to the closing of a Change of Control. In such event, notwithstanding any other provision of this Warrant to the contrary,
the Company may terminate this Warrant in exchange for issuing to the Registered Holder substitute rights (which may be provided
in the purchase or merger agreement governing the Change of Control or in a separate instrument) to receive the net economic benefits
of this Warrant. Such net economic benefits shall be determined by deducting the aggregate exercise price of this Warrant from
the aggregate proceeds which would be payable on account of the Warrant Shares (or, if elected by the Registered Holder, the Convertible
Common Stock), including any post-closing payments or adjustments to the consideration received by the Company or its stockholders,
as if this Warrant and/or any of the rights under the Preferred Stock had been fully exercised by the Registered Holder immediately
before the Change of Control (but without requiring such exercise). Such substitute rights shall provide the Registered Holder
the right to receive such net economic benefits when and as the correlative proceeds in excess of the aggregate exercise price
would become payable on account of the Warrant Shares (or, if elected by the Registered Holder, the Convertible Common Stock).
For the avoidance of doubt (i) to the extent the consideration to be provided in the Change of Control is a security that
is not listed on a national securities exchange, the Registered Holder shall be entitled to elect to receive either (1) cash
in an amount equal to the Fair Market Value of the net economic benefits of this Warrant or (2) an amount of such securities
having deal value equal to the net economic benefit of this Warrant and (ii) at any time prior to the Change of Control,
the Registered Holder may exercise this Warrant in accordance with the terms hereof, in which case such Registered Holder shall
be entitled to receive any consideration to be received by holders of Preferred Stock (or Convertible Common Stock if elected
by the Registered Holder).

 

4.           Fractional
Shares. The Company shall not be required upon the exercise of this Warrant to issue any fractional shares, but shall make
an adjustment therefor in cash on the basis of the fair market value (“Fair Market Value”) per share
of Preferred Stock (or Common Stock, as applicable), such Fair Market Value to be determined as follows:

 

(a)            If
traded on a national securities exchange or through the Nasdaq Capital Market, the Fair Market Value shall be deemed to be the
average of the closing prices of the securities on such exchanges over the thirty (30) day period ending three (3) days prior
to the closing. If actively traded over the counter, the value shall be deemed to be the average of the closing bid or sales prices
(whichever is applicable) over the thirty (30) day period ending three (3) days prior to the closing;

 

    4

     

    

 

(b)          In
the event that this Warrant is exercised in connection with the IPO, the Fair Market Value shall be the per share offering price
to the public of the IPO; or

 

(c)          If
at any time such security is not listed on any national securities exchange or the Nasdaq Capital Market or quoted in the over-the-counter
markets, and this Warrant is not being exercised in connection with the IPO, the Fair Market Value shall be the fair value thereof,
as determined jointly and in good faith by the Company’s Board of Directors and the Registered Holder of the Warrants then
remaining outstanding. If such parties are unable to reach agreement on such fair value within a reasonable period of time, such
fair value shall be determined by an independent appraiser experienced in valuing securities jointly and in good faith selected
by the Company’s Board of Directors and the Registered Holder of the Warrants then remaining outstanding. The determination
of the appraiser shall be final and binding upon the parties and the Company shall pay the fees and expenses of such appraiser.

 

5.            Requirements
for Transfer.

 

(a)          This
Warrant and the Warrant Shares shall not be sold or transferred unless either (i) they first shall have been registered under
the Act or (ii) such sale or transfer is exempt from the registration requirements of the Act. A transferring Registered Holder
will cause any proposed transferee of this Warrant to agree to take and hold this Warrant subject to the provisions of and upon
the conditions specified in this Warrant.

 

(b)          Each
certificate representing Warrant Shares shall bear a legend substantially in the following form:

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED, SOLD OR
OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL SUCH SECURITIES ARE REGISTERED UNDER SUCH ACT OR UNLESS SOLD PURSUANT
TO AN EXEMPTION THEREFROM, OR EXCEPTION THERETO, AND IN ACCORDANCE WITH APPLICABLE SECURITIES LAWS.”

 

The foregoing legend
shall be removed from the certificates representing any Warrant Shares, at the request of the holder thereof, at such time as all
of the applicable conditions of Rule 144 (then in effect) are met (other than the information requirements thereof, which
shall be the responsibility of the Company to maintain and make available to prospective investors).

 

    5

     

    

 

6.           No
Impairment. The Company will not, by amendment of the Charter or through reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the
taking of all such action as may be necessary or appropriate in order to protect the rights of the Registered Holder against impairment.
Without limiting the generality of the foregoing, the Company will (a) not increase the par value of any shares of Preferred
Stock or Convertible Common Stock obtainable upon the exercise of this Warrant or any of the rights under the Preferred Stock
and (b) take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue
fully paid and nonassessable shares of Preferred Stock upon the exercise of this Warrant and Convertible Common Stock upon the
exercise of any rights under the Preferred Stock.

 

7.            Notices
of Record Date, etc. In the event:

 

(a)           the
Company shall propose at any time to (i) declare any dividend or other distribution upon the outstanding shares of Preferred
Stock (or other stock or securities at the time deliverable upon the exercise of this Warrant) or (ii) grant to the holders
of Preferred Stock (or other stock or securities at the time deliverable upon the exercise of this Warrant) any right to subscribe
for or purchase any shares of stock of any class or any other securities (other than pursuant to contractual right held by such
holders), or to receive any other right; or

 

(b)            any
sale, license, or other disposition of all or substantially all of the Company’s assets (including intellectual property)
(a “Sale”), or any reorganization, consolidation, merger, sale of the voting securities of the Company
or other transaction or series of related transactions where the holders of the Company’s securities before the transaction
or series of related transactions beneficially own less than forty-nine percent (49%) of the outstanding voting securities of,
or economic interests in, the surviving entity after the transaction or series of related transactions (an “Acquisition”
and together with a Sale, a “Change of Control”);

 

(c)            the
Company proposes to file a registration statement in connection with an IPO;

 

(d)            of
any capital reorganization of the Company or any reclassification of the Company’s capital stock; or

 

(e)            of
the voluntary or involuntary dissolution, liquidation or winding-up of the Company,

 

then, and in each such case, the Company
will mail or cause to be distributed to the Registered Holder at least seven (7) days prior to the record date specified therein
(or such shorter period approved by the Registered Holder) and at least seven (7) days prior to the effective date of such
event specified in clause (b) or (c) hereof a notice specifying, as the case may be, (i) the record date for such
dividend, distribution or right, and the amount and character of such dividend, distribution or right, or (ii) the effective
date on which such Change of Control, dissolution, liquidation or winding-up is to take place, and the time, if any is to be fixed,
as of which the holders of record of Preferred Stock (or such other stock or securities at the time deliverable upon the exercise
of this Warrant) shall be entitled to exchange their shares of Preferred Stock (or such other stock or securities) for securities
or other property deliverable upon such Change of Control, dissolution, liquidation or winding-up. Nothing herein shall prohibit
the Registered Holder from exercising this Warrant during the seven (7) day period commencing on the date of such notice.

 

    6

     

    

 

8.          Reservation
of Stock. The Company covenants that, for as long as this Warrant remains outstanding, the Company will at all times (a) reserve
and keep available, from its authorized and unissued Preferred Stock solely for issuance and delivery upon the exercise of this
Warrant and free of preemptive rights, such number of Warrant Shares and other securities, cash and/or property, as from time
to time shall be issuable upon the exercise of this Warrant, (b) from time to time, take all steps necessary to increase
the authorized number of shares of its Preferred Stock if at any time the authorized number of shares of Preferred Stock remaining
unissued is insufficient to permit the exercise of this Warrant, (c) reserve from its authorized and unissued shares of Common
Stock a sufficient number of shares of Common Stock to provide for the Convertible Common Stock and (iv) take all steps necessary
to increase the number of shares of Common Stock to provide sufficient reserves of shares of Convertible Common Stock.

 

9.             Issuance
Upon Exercise. All shares of Preferred Stock and Convertible Common Stock issuable upon exercise of this Warrant or any rights
under the Preferred Stock, as applicable, will be duly and validly issued, fully paid and nonassessable and will be free of restrictions
on transfer, other than restrictions on transfer under any agreement between the Registered Holder and the Company and under applicable
state and federal securities laws, and will be free from all taxes, liens and charges in respect of the issue thereof (other than
taxes in respect of any transfer occurring contemporaneously or otherwise specified herein). The Company shall take all such actions
as may be necessary to ensure that all such shares of Preferred Stock and Convertible Common Stock may be so issued without violation
of any applicable law or governmental regulation or any requirements of any domestic stock exchange upon which shares of Preferred
Stock or Convertible Common Stock may be listed (except for official notice of issuance which shall be immediately delivered by
the Company upon each such issuance).

 

10.          Exchange
of Warrants. Upon the surrender by the Registered Holder to the Company, the Company will, subject to the provisions of Section 5
hereof, issue and deliver to or upon the order of such Registered Holder, at the Company’s expense, a new Warrant or
Warrants of like tenor, in the name of the Registered Holder or as the Registered Holder may direct (in which case such transferee
shall become a Registered Holder), calling in the aggregate on the face or faces thereof for the number of shares of Preferred
Stock (or other securities, cash and/or property) then issuable upon exercise of this Warrant, in each case as the Registered
Holder may direct.

 

11.            Replacement
of Warrants. Upon receipt of evidence reasonably satisfactory to the Company (an affidavit of a Registered Holder shall be
satisfactory) of the ownership and loss, theft, destruction or mutilation of any certificate evidencing this Warrant and in the
case of loss, theft or destruction, upon delivery of an unsecured indemnity agreement of the Registered Holder, or in the case
of mutilation, upon surrender and cancellation of such certificate, the Company shall, at its expense, execute and deliver in
lieu of such certificate, a new certificate of like kind representing the same rights represented by such lost, stolen, destroyed
or mutilated certificate and dated the date of such lost, stolen, destroyed or mutilated certificate.

 

12.             Transfers, etc.

 

(a)            The
Company shall keep and properly maintain a register (the “Warrant Register”) at its principal executive
office containing the name and address of the Registered Holder of this Warrant. The Registered Holder may change its or his address
as shown on the warrant register by written notice to the Company requesting such change.

 

    7

     

    

 

(b)           Subject
to the provisions of Section 5 hereof, this Warrant and all rights hereunder are transferable, in whole or in part,
upon surrender of this Warrant with a properly executed assignment (in the form of Exhibit B hereto) at the principal
executive office of the Company.

 

(c)            Until
any transfer of this Warrant is made in the Warrant Register, the Company may treat the Registered Holder as the absolute owner
hereof for all purposes; provided, however, that if and when this Warrant is properly assigned in blank, the Company
may (but shall not be obligated to) treat the bearer hereof as the absolute owner hereof for all purposes, notwithstanding any
notice to the contrary.

 

(d)             The
Company shall not close its books against the transfer of this Warrant or any share of Preferred Stock issued or issuable upon
the exercise of this Warrant in any manner which interferes with the timely exercise of this Warrant. The Company shall from time
to time take all such action as may be necessary to ensure that the par value per share of the unissued Preferred Stock acquirable
upon exercisable of this Warrant is at all times equal to or less than the Exercise Price then in effect.

 

13.          Distributing
of Notices, etc. Any notice, request, demand or other communication required or permitted to be given to a party pursuant
to the provisions of this Agreement will be in writing and will be effective and deemed given under this Agreement on the earliest
of: (a) the date of personal delivery, (b) the date of transmission by electronic mail and (c) two (2) days
after deposit with a nationally-recognized courier or overnight service such as Federal Express, and shall in all cases be accompanied
by an electronic mail notice. All notices not delivered personally, by facsimile or by electronic mail will be sent with postage
and other charges prepaid and properly addressed to the party to be notified at the address set forth for such party:

 

If to a Registered Holder:

 

KENNEDY LEWIS CAPITAL PARTNERS
MASTER FUND II LP

80 Broad Street

22nd Floor

New York, NY 10004

Attention: Richard Gumer

Email: [XXX]

 

With a copy to (which does not
constitute notice):

 

Akin Gump Strauss Hauer &
Feld LLP

One Bryant Park

Bank of America Tower

New York, NY 10036-6745

Phone: 212-872-1000

Attn: Daniel Fisher

Email: [XXX]

 

    8

     

    

 

If to the Company:

 

RAPID MICRO BIOSYSTEMS, INC.

1001 Pawtucket Blvd. West

Lowell, MA 01854

Attn: Chief Financial Officer

Email: [XXX]

 

With a copy to (which does not
constitute notice):

 

Latham & Watkins LLP

200 Clarendon Street, 27th
Floor

Boston, MA 02116

Phone: 617-948-6083

Attn: Stephen W. Ranere

Email: [XXX]

 

Any party hereto (and
such party’s permitted assigns) may change such party’s address for receipt of future notices hereunder by giving written
notice to the Company and the other parties hereto.

 

14.            No
Rights or Liabilities as Stockholder; Lock-Up Agreement.

 

(a)            Other
than as otherwise provided in this Warrant, prior to exercise of this Warrant, the Registered Holder shall not be entitled to any
rights of a stockholder with respect to the Warrant Shares, including (without limitation) the right to vote such shares, receive
dividends or other distributions thereon, exercise preemptive rights, be notified of stockholder meetings, or be entitled to any
stockholder notice or other communication concerning the business or affairs of the Company.

 

(b)             In
the event (i) (x) the Company effects a split of the Common Stock or Preferred Stock by means of a stock dividend and
(y) the Exercise Price of the Warrants and the number of any of the securities as to which purchase rights under this Warrant
exist are adjusted as of the date of the distribution of the dividend (rather than as of the record date for such dividend), and
(ii) the Registered Holder exercises this Warrant between the record date and the distribution date for such stock dividend,
then the Registered Holder shall be entitled to receive, on the distribution date, the stock dividend with respect to any shares
of the securities as to which purchase rights under this Warrant or the Preferred stock, as applicable, exist and are or could
be acquired upon the exercise of this Warrant and the exercise of any rights under the Preferred Stock, as applicable, notwithstanding
the fact that such shares were not outstanding as of the close of business on the record date for such stock dividend.

 

    9

     

    

 

(c)            The
Registered Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period
commencing on the date of the final prospectus relating to the IPO, and ending on the date specified by the Company and the managing
underwriter (such period not to exceed one hundred eighty (180) days, which period may be extended upon the request of the managing
underwriter, but only to the extent required by any FINRA rules, for an additional period of up to thirty-four (34) days if the
Company issues or proposes to issue an earnings or other public release within thirty-four (34) days of the expiration of the 180-day
lockup period), (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option
or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly,
any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common
Stock held immediately before the effective date of the registration statement for such offering or (ii) enter into any swap
or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities,
whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other
securities, in cash, or otherwise. The foregoing provisions of this Section 14(c) shall apply only to the IPO,
shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, and shall be applicable to the
Registered Holder only if all officers, directors and stockholders who
individually own more than one percent (1%) of the Company’s outstanding Common Stock (after giving effect to conversion
into Common Stock of all outstanding shares of the Company’s preferred stock) are subject to the same restrictions. Any discretionary
waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata
to the Registered Holder, based on the number of shares subject to such agreements. The underwriters in connection with such registration
are intended third-party beneficiaries of this Section 14(c) and shall have the right, power, and authority to
enforce the provisions hereof as though they were a party hereto. The Registered Holder further agrees to execute such agreements
as may be reasonably requested by the underwriters in connection with such registration that are consistent with this Section 14(c) or
that are necessary to give further effect thereto.

 

15.            Amendment
or Waiver; Expiration. Any term of this Warrant may be amended or waived upon the written consent of the Company, on the one
hand, and KLIM, on the other hand. Unless earlier exercised in full or terminated in accordance with the terms hereof, this Warrant
shall automatically expire and be of no further force or effect on the tenth anniversary of the Date of Issuance.

 

16.            Successors
and Assigns. This Warrant shall be binding upon and inure to the benefit of the Registered Holder and its assigns, and shall
be binding upon any entity succeeding to the Company by consolidation, merger or acquisition of all or substantially all of the
Company’s assets. The Company may not assign this Warrant or any rights or obligations hereunder without the prior written
consent of the Registered Holder. The Registered Holder may assign this Warrant without the Company’s prior written consent.

 

17.            Remedies.
In the event of a breach by either party of any of its obligations under this Warrant, the non-breaching party, in addition to
being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance
of its rights under this Warrant. Each party agrees that monetary damages would not provide adequate compensation for any losses
incurred by reason of its breach of any of the provisions of this Warrant and hereby further agrees that, in the event of any
action for specific performance in respect of such breach, it shall waive the defense that a remedy at law would be adequate.

 

    10

     

    

 

18.            Section Headings.
The section headings in this Warrant are for the convenience of the parties and in no way alter, modify, amend, limit or restrict
the contractual obligations of the parties.

 

19.         Counterparts.
This Warrant may be executed and delivered by facsimile or portable document format (.pdf) and may be executed in counterparts,
each of which will be deemed an original but all of which together will constitute one and the same instrument.

 

20.             Severability.
The provisions of this Warrant will be deemed severable and the invalidity or unenforceability of any provision hereof will not
affect the validity or enforceability of the other provisions hereof; provided that if any provision of this Warrant, as
applied to any party or to any circumstance, is adjudged by a court, governmental body, arbitrator, or mediator not to be enforceable
in accordance with its terms, the parties agree that the court, governmental body, arbitrator, or mediator making such determination
will have the power to modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to
delete specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced.

 

21.            Titles
and Subtitles. The article and section headings contained in this Warrant are inserted for convenience only and will not affect
in any way the meaning or interpretation of this Warrant.

 

22.           Third
Parties. Nothing in this Warrant, express or implied, is intended to confer upon any person other than the parties hereto
and their successors and assigns, any rights or remedies under or by reason of this Warrant.

 

23.            Governing
Law and Jurisdiction. This Warrant and the performance of the transactions and the obligations of the parties hereunder will
be governed by and construed and enforced in accordance with the laws of the State of Delaware, without giving effect to any choice
of law or conflict of law principles.

 

24.            Representations
and Warranties of the Company. The Company hereby represents and warrants to the Registered Holder that (i) it has the
corporate power and authority to execute this Agreement and consummate the transactions contemplated by this Agreement, (ii) there
are no statutory or contractual stockholders’ preemptive rights or rights of refusal with respect to the issuance of any
Warrants that have not been satisfied or waived and (iii) the execution and delivery by the Company of this Agreement and
the issuance of the shares of Preferred Stock upon exercise of any Warrant and the Convertible Common Stock do not and shall not
(A) conflict with or result in a breach of the terms, conditions or provisions of, (B) constitute a default under, (C) result
in the creation of any lien, security interest, charge or encumbrance upon the Company’s capital stock or assets pursuant
to, (D) result in a violation of, or (E) require any authorization, consent, approval, exemption or other action by or
notice or declaration to, or filing with, any court or administrative or governmental body or agency pursuant to, the Company’s
governing documents or any law in effect as of the date hereof to which the Company is subject, or any agreement, instrument, order,
judgment or decree to which the Company is subject as of the date hereof, except for any such authorization, consent, approval,
notice or exemption required under applicable securities laws.

 

    11

     

    

 

25.            Representations
and Warranties of the Holder. The Registered Holder represents and warrants to the Company as follows:

 

(a)            This
Warrant and the Warrant Shares to be acquired upon exercise of this Warrant by the Registered Holder will be acquired for investment
for the Registered Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution
within the meaning of the Act.

 

(b)            The
Registered Holder has received or has had full access to all the information it considers necessary or appropriate to make an informed
investment decision with respect to the acquisition of this Warrant and its underlying securities. The Registered Holder further
has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering
of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information
or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to the Registered Holder
or to which the Registered Holder has access.

 

(c)            The
Registered Holder understands that the acquisition of this Warrant and its underlying securities involves substantial risk. The
Registered Holder has experience as an investor in securities of companies of a similar size and stage of development as the Company
and acknowledges that the Registered Holder can bear the economic risk of such Registered Holder’s investment in this Warrant
and its underlying securities and has such knowledge and experience in financial or business matters that the Registered Holder
is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting
personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and
duration that enables the Registered Holder to be aware of the character, business acumen and financial circumstances of such persons.

 

(d)             The
Registered Holder is an “accredited investor” as such term is defined under Rule 501 of Regulation D promulgated
under the Act.

 

(e)           The
Registered Holder understands that this Warrant and the Warrant Shares issuable upon exercise hereof have not been registered under
the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature
of the Registered Holder’s investment intent as expressed herein. The Registered Holder understands that this Warrant and
the Warrant Shares issued upon any exercise hereof must be held indefinitely unless subsequently registered under the Act and qualified
under applicable state securities laws, or unless exemption from such registration and qualification are otherwise available.

 

[SIGNATURE PAGE FOLLOWS]

 

    12

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Warrant as of the Date of Issuance.

 

	 	/s/ Robert Spignesi
	 	Name:	Robert Spignesi
	 	Title:	President and Chief Executive Officer

 

[Signature
Page to Series C1 Warrant Agreement]

 

     

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Warrant as of the Date of Issuance.

 

	 	REGISTERED HOLDER: KENNEDY LEWIS
    CAPITAL PARTNERS MASTER FUND II LP
	 	 
	 	By: KENNEDY LEWIS GP II, LLC, its general partner
	 	 
	 	By: /s/ Anthony Pasqua
	 	Name:	Anthony Pasqua
	 	Title:	Authorized Signatory

 

[Signature
Page to Series C1 Warrant Agreement]

  

    

     

    

 

EXHIBIT A

 

PURCHASE FORM

 

	To:	 	 	 	Dated:	 

 

The undersigned, pursuant
to the provisions set forth in the attached Warrant (No. ___), hereby irrevocably elects to purchase _____ shares of the Preferred
Stock covered by such Warrant.

 

The undersigned herewith
makes payment of the full exercise price for such shares at the price per share provided for in such Warrant.

 

By its execution below
and for the benefit of the Company, the undersigned hereby restates each of the representations and warranties in Section 25
of such Warrant as of the date hereof.

 

	 	[	 	]

 

 

	 	Name:
	 	Title:

 

		Address:	
	 	 	 

 

    

     

    

 

EXHIBIT B

 

ASSIGNMENT FORM

 

FOR VALUE RECEIVED,
________________________________________ hereby sells, assigns and transfers all of the rights of the undersigned under the attached
Warrant (No. ____) with respect to the number of shares of Preferred Stock covered thereby set forth below, unto:

 

	Name of Assignee	Address	No. of Shares
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

	Dated:	 	 

 

	 	[		]

 

	 	Name:
	 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}]]