Document:

EX-4.5

 Exhibit 4.5 

Description of the Company’s Securities Registered 

Under Section 12 of the Exchange Act of 1934 

The following description of our units (the “Units”), Class A ordinary shares (the “Class A Ordinary Shares”) and warrants
(together with the Public Warrants and Private Placement Warrants, as defined below, the “Warrants”) is a summary and does not purport to be complete. It is subject and qualified in its entirely by reference to our amended and restated
memorandum and articles of association and warrant agreement, each of which are incorporated by reference as an exhibit to the annual report on Form 10-K (the “Annual Report on Form 10-K”) of which this Exhibit 4.5 is a part. 
 Terms not otherwise defined herein shall have the meaning assigned to
them in the Annual Report on Form 10-K of which this Exhibit 4.5 is a part. 
 Units 

Public Units 
 Each unit consists of one
Class A Ordinary Share and one-fourth of one warrant (the “Public Warrant”). Each whole Warrant entitles the holder thereof to purchase one Class A Ordinary Share at a price of $11.50 per
share, subject to adjustment as described in our prospectus (the “Prospectus”). Pursuant to the warrant agreement, a Warrant holder may exercise its Warrants only for a whole number of Ordinary Share. This means that only a whole Warrant
may be exercised at any given time by a warrant holder. For example, if a Warrant holder holds one-fourth of one Warrant to purchase a Class A Ordinary Share, such Warrant will not be exercisable. If a
warrant holder holds four-fourths of one Warrant, such whole Warrant will be exercisable for one Class A Ordinary Share at a price of $11.50 per share. As of April 26, 2021, holders had the option to continue to hold Units or separate
their Units into the component securities. Holders need to have their brokers contact our transfer agent in order to separate the units into Class A Ordinary Shares and Warrants. 

Ordinary Shares 
 Ordinary shareholders of record are
entitled to one vote for each share held on all matters to be voted on by shareholders. Holders of Class A Ordinary Shares and holders of Class B ordinary shares (the “Founder Shares”) will vote together as a single class on all
matters submitted to a vote of our shareholders except as set forth in our amended and restated memorandum and articles of association or as required by law. Unless specified in our amended and restated memorandum and articles of association, or as
required by applicable provisions of the Companies Act or applicable stock exchange rules, the affirmative vote of a majority of our ordinary shares that are voted is required to approve any such matter voted on by our shareholders. Approval of
certain actions will require a special resolution under Cayman Islands law, being the affirmative vote of at least two-thirds of the ordinary shares that are voted, and pursuant to our amended and restated
memorandum and articles of association; such actions include amending our amended and restated memorandum and articles of association and approving a statutory merger or consolidation with another company. Our board of directors is divided into
three classes, each of which will generally serve for a term of three years with only one class of directors being appointed in each year. There is no cumulative voting with respect to the appointment of directors, with the result that the holders
of more than 50% of the shares voted for the appointment of directors can elect all of the directors. However, only holders of Founder Shares will have the right to appoint directors in any election held prior to or in connection with the completion
of our initial business combination (the “Initial Business Combination”), meaning that holders of Class A Ordinary Share will not have the right to appoint any directors until after the completion of our Initial Business Combination.
In addition, in a vote to continue the Company in a jurisdiction outside the Cayman Islands (which requires the approval of at least two thirds of the votes of all ordinary shares), holders of our Class B ordinary shares will have ten votes for
every Founder Share and holders of our Class A Ordinary Share will have one vote for every Class A Ordinary Share. The provisions of our amended and restated memorandum and articles of association governing the appointment or removal of
directors prior to our Initial Business Combination and our continuation in a jurisdiction outside the Cayman Islands prior to our Initial Business Combination may only be amended by a special resolution

 
passed by not less than two-thirds of our ordinary shares who attend and vote at our general meeting which shall include the affirmative vote of a simple
majority of our Founder Shares. Our shareholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. 

Because our amended and restated memorandum and articles of association authorize the issuance of up to 500,000,000 Class A Ordinary Share, if we enter
into a business combination, we may (depending on the terms of such a business combination) be required to increase the number of Class A Ordinary Share which we are authorized to issue at the same time as our shareholders vote on the business
combination to the extent we seek shareholder approval in connection with our Initial Business Combination. Our board of directors is divided into three classes with only one class of directors being appointed in each year and each class (except for
those directors appointed prior to our first annual general meeting) serving a three-year term. 
 In accordance with the Nasdaq Capital Market
(“Nasdaq”) corporate governance requirements, we are required to hold an annual general meeting until one year after our first fiscal year end following our listing on Nasdaq. There is no requirement under the Companies Act for us to hold
annual or general meetings or appoint directors. 
 We will provide our public shareholders with the opportunity to redeem all or a portion of their public
shares upon the completion of our Initial Business Combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account (the “Trust Account”)
calculated as of two business days prior to the consummation of our Initial Business Combination, including interest earned on the funds held in the Trust Account and not previously released to us to pay our taxes, divided by the number of then
outstanding public shares, subject to the limitations and on the conditions described herein. 
 The per share amount we will distribute to investors who
properly redeem their shares will not be reduced by the deferred underwriting commissions we paid to the underwriters. VPC Impact Acquisition Holding Sponsor II, LLC (our “Sponsor”), our officers and directors have entered into a letter
agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to their Founder Shares and public shares in connection with the completion of our Initial Business Combination. Unlike many special purpose
acquisition companies that hold shareholder votes and conduct proxy solicitations in conjunction with their initial business combinations and provide for related redemptions of public shares for cash upon completion of such initial business
combinations even when a vote is not required by law, if a shareholder vote is not required by law and we do not decide to hold a shareholder vote for business or other legal reasons, we will, pursuant to our amended and restated memorandum and
articles of association, conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission (the “SEC”), and file tender offer documents with the SEC prior to completing our Initial Business
Combination. Our amended and restated memorandum and articles of association require these tender offer documents to contain substantially the same financial and other information about our Initial Business Combination and the redemption rights as
is required under the SEC’s proxy rules. If, however, a shareholder approval of the transaction is required by law, or we decide to obtain shareholder approval for business or other reasons, we will, like many special purpose acquisition
companies, offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek shareholder approval, we will complete our Initial Business Combination only if we receive
an ordinary resolution under Cayman Islands law, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company. However, the participation of our Sponsor, officers, directors, advisors
or their affiliates in privately-negotiated transactions (as described in the Prospectus), if any, could result in the approval of our Initial Business Combination even if a majority of our public shareholders vote, or indicate their intention to
vote, against such Initial Business Combination. For purposes of seeking approval of an ordinary resolution, non-votes will have no effect on the approval of our Initial Business Combination once a quorum is
obtained. Our amended and restated memorandum and articles of association require that at least five days’ notice will be given of any general meeting. 

Additionally, such shareholders will not receive redemption distributions with respect to the Excess Shares if we complete our Initial Business Combination.
And, as a result, such shareholders will continue to hold that number of shares exceeding 20% and, in order to dispose such shares would be required to sell their shares in open market transactions, potentially at a loss. 

 If we seek shareholder approval in connection with our Initial Business Combination, our Sponsor, officers
and directors have agreed to vote their Founder Shares and any public shares purchased during or after the initial public offering (the “Initial Public Offering”) (including in open market and privately-negotiated transactions) in favor of
our Initial Business Combination. As a result, in addition to our initial shareholders’ Founder Shares, we would need 9,591,925, or 37.5%, of the 25,578,466 public shares sold in the Initial Public Offering to be voted in favor of an initial
business combination in order to have our Initial Business Combination approved. Additionally, each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction or whether they
were a public shareholder on the record date for the general meeting held to approve the proposed transaction. 
 Pursuant to our amended and restated
memorandum and articles of association, if we are unable to complete our Initial Business Combination within twenty-four (24) months from the closing of this offering, we will (i) cease all operations except for the purpose of winding up,
(ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the
Trust Account , including interest earned on the funds held in the Trust Account (which interest shall be less taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which
redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law and (iii) as promptly as reasonably possible following
such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to our obligations under Cayman Islands law to provide for claims of
creditors and in all cases subject to the other requirements of applicable law. Our Sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive their rights to liquidating distributions
from the Trust Account with respect to their Founder Shares if we fail to complete our Initial Business Combination within 24 months from the closing of this offering. However, if our Sponsor or management team acquire public shares in or after this
offering, they will be entitled to liquidating distributions from the Trust Account with respect to such public shares if we fail to complete our Initial Business Combination within the prescribed time period. 

In the event of a liquidation, dissolution or winding up of the company after a business combination, our shareholders are entitled to share ratably in all
assets remaining available for distribution to them after payment of liabilities and after provision is made for each class of shares, if any, having preference over the ordinary shares. Our shareholders have no preemptive or other subscription
rights. There are no sinking fund provisions applicable to the ordinary shares, except that we will provide our public shareholders with the opportunity to redeem their public shares for cash at a per share price equal to the aggregate amount then
on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to us to pay our taxes, divided by the number of then outstanding public shares, upon the completion of our Initial
Business Combination, subject to the limitations and on the conditions described herein. 
 Founder Shares 

The Founder Shares are designated as Class B ordinary shares and, except as described below, are identical to the Class A Ordinary Shares included in
the Units sold in the Initial Public Offering, and holders of Founder Shares have the same shareholder rights as public shareholders, except that (i) the Founder Shares are subject to certain transfer restrictions, as described in more detail
below, (ii) the Founder Shares are entitled to registration rights; (iii) in a vote to continue the Company in a jurisdiction outside the Cayman Islands (which requires the approval of at least two thirds of the votes of all ordinary
shares), holders of our Founder Shares will have ten votes for every Founder Share and holders of our Class A Ordinary Shares will have one vote for every Class A Ordinary Share, (iv) our Sponsor, officers and directors have entered
into a letter agreement with us, pursuant to which they have agreed to (A) waive their redemption rights with respect to their Founder Shares and public shares in connection with the completion of our Initial Business Combination,
(B) waive their redemption rights with respect to their Founder Shares and public shares in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) to modify the
substance or timing of our obligation to allow redemption in connection with our Initial Business Combination or to redeem 100% of our public shares if we have not consummated an Initial Business Combination within 24 months from the closing of the
Initial Public Offering or (B) with respect to any other material provisions relating to shareholders’ rights or pre-Initial Business Combination activity, (C) waive their rights to liquidating
distributions from the Trust Account with respect to their Founder Shares if we fail to complete our Initial Business Combination within 24 months from the closing the Initial Public Offering, although they will be entitled to liquidating
distributions from the Trust Account with respect to 

 
any public shares they hold if we fail to complete our Initial Business Combination within such time period and (D) vote any founder shares held by them and any public shares purchased
during or after this offering (including in open market and privately-negotiated transactions) in favor of our Initial Business Combination, (v) the Founder Shares are automatically convertible into Class A Ordinary Shares concurrently
with or immediately following the consummation of our Initial Business Combination on a one-for-one basis, subject to adjustment as described herein and in our amended
and restated memorandum and articles of association, and (vi) only holders of Class B ordinary shares will have the right to appoint directors in any election held prior to or in connection with the completion of our Initial Business
Combination. 
 The Founder Shares will automatically convert into Class A Ordinary Shares concurrently with or immediately following the consummation
of our Initial Business Combination on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations,
reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A Ordinary Shares or equity-linked securities are issued or deemed issued in connection with our Initial
Business Combination, the number of Class A Ordinary Shares issuable upon conversion of all Founder Shares will equal, in the aggregate, 20% of the total number of Class A Ordinary Shares outstanding after such conversion (after giving
effect to any redemptions of Class A ordinary shares by public shareholders), including the total number of Class A Ordinary Shares issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights
issued or deemed issued, by the Company in connection with or in relation to the consummation of the Initial Business Combination, excluding any Class A Ordinary Shares or equity-linked securities exercisable for or convertible into
Class A Ordinary Shares issued, or to be issued, to any seller in the Initial Business Combination and any Private Placement Warrants issued to our Sponsor, officers or directors upon conversion of working capital loans; provided that
such conversion of Founder Shares will never occur on a less than one-for-one basis. 

With certain limited exceptions, the Founder Shares are not transferable, assignable or salable (except to our officers and directors and other persons or
entities affiliated with our sponsor, each of whom will be subject to the same transfer restrictions) until the earlier of (A) one year after the completion of our Initial Business Combination or earlier if, subsequent to our Initial Business
Combination, the closing price of the Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the
like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination, and (B) the date following the completion of our initial business
combination on which we complete a liquidation, merger, share exchange or other similar transaction that results in all of our shareholders having the right to exchange their Class A Ordinary Shares for cash, securities or other property.
74,133 Founder Shares were surrendered for no to us consideration following the underwriter’s partial exercise of the over-allotment option. 

Warrants 
 Public Warrants 

Each whole Warrant entitles the registered holder to purchase one Class A Ordinary Shares at a price of $11.50 per share, subject to adjustment as
discussed below, at any time commencing on the later of one year from the closing of this offering or 30 days after the completion of our Initial Business Combination, provided in each case that we have an effective registration statement under the
Securities Act of 1933, as amended (the “Securities Act”) covering the Class A Ordinary Shares issuable upon exercise of the Warrant and a current prospectus relating to them is available (or we permit holders to exercise their
Warrant on a cashless basis under the circumstances specified in the warrant agreement) and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder. Pursuant
to the warrant agreement, a Warrant holder may exercise its warrants only for a whole number of Class A Ordinary Shares. This means only a whole Warrant may be exercised at a given time by a Warrant holder. No fractional warrants will be issued
and only whole warrants will trade. Accordingly, unless you have purchased at least four Units, you will not be able to receive or trade a whole Warrant. The Warrant will expire five years after the completion of our Initial Business Combination, at
5:00 p.m., New York City time, or earlier upon redemption or liquidation. 

 We will not be obligated to deliver any Class A Ordinary Shares pursuant to the exercise of a Warrant
and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act with respect to the Class A Ordinary Shares underlying the Warrants is then effective and a prospectus relating thereto is
current, subject to our satisfying our obligations described below with respect to registration. No Warrant will be exercisable and we will not be obligated to issue a Class A Ordinary Share upon exercise of a Warrant unless the Class A
Ordinary Share issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the Warrants. In the event that the conditions in the two
immediately preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant will not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless. In no event will we be required to net
cash settle any Warrant. In the event that a registration statement is not effective for the exercised warrants, the purchaser of a Unit containing such Warrant will have paid the full purchase price for the unit solely for the Class A Ordinary
Share underlying such unit. 
 We have agreed that as soon as practicable, but in no event later than fifteen (15) business days after the closing of
our Initial Business Combination, we will use our best efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A Ordinary Shares issuable upon exercise of the Warrants. We will use our
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 the warrant
agreement. If a registration statement covering the Class A Ordinary Shares issuable upon exercise of the Warrants is not effective by the sixtieth (60th) business day after the closing of our Initial Business Combination, Warrant holders may,
until such time as there is an effective registration statement and during any period when we will have failed to maintain an effective registration statement, exercise Warrants on a “cashless basis” in accordance with Section 3(a)(9)
of the Securities Act or another exemption. Notwithstanding the above, if our Class A Ordinary Shares are at the time of any exercise of a Warrant not listed on a national securities exchange such that they satisfy the definition of a
“covered security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of Public Warrants who exercise their Warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of
the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect a registration statement, and in the event we do not so elect, we will use our best efforts to register or qualify the shares under applicable
blue sky laws to the extent an exemption is not available. 
 Redemption of Warrants when the price per Class A
Ordinary Share equals or exceeds $18.00. Once the Warrants become exercisable, we may redeem the outstanding Warrants (except as described herein with respect to the private placement warrants (the “Private Placement Warrants”)):

  

	 	•	 	 in whole and not in part; 

 

	 	•	 	 at a price of $0.01 per Warrant; 

 

	 	•	 	 upon a minimum of 30 days’ prior written notice of redemption (the
“30-day redemption period”); and 

  

	 	•	 	 if, and only if, the last reported sale price of the Class A Ordinary Shares equals or exceeds $18.00 per
share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant) for any 20 trading days within a 30-trading day period ending three business days before we
send the notice of redemption to the Warrant holders. 

 If and when the Warrants become redeemable by us, we may exercise our redemption
right even if we are unable to register or qualify the underlying securities for sale under all applicable state securities laws. 
 We have established the
last of the redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the Warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption
of the Warrants, each Warrant holder will be entitled to exercise his, her or its Warrant prior to the scheduled redemption date. However, the price of the Class A Ordinary Shares may fall below the $18.00 redemption trigger price (as adjusted
for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) as well as the $11.50 Warrant exercise price after the redemption notice is issued. 

Redemption of Warrants when the price per Class A Ordinary Share equals or exceeds $10.00. Once the Warrants
become exercisable, we may redeem the outstanding Warrants (except as described herein with respect to the Private Placement Warrants): 
  

	 	•	 	 in whole and not in part; 

	 	•	 	 at a price of $0.10 per Warrant; 

 

	 	•	 	 upon a minimum of 30 days’ prior written notice of redemption; provided that holders will be able to
exercise their Warrants on a cashless basis prior to redemption and receive that number of shares determined by reference to the table below, based on the redemption date and the “fair market value” (as defined below) of our Class A
Ordinary Shares except as otherwise described below; 

  

	 	•	 	 if, and only if, the closing price of our Class A Ordinary Shares equals or exceeds $10.00 per share (as
adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a Warrant) for any 20 trading days within the 30-trading day period ending three trading days before we send the
notice of redemption to the Warrant holders; and 

  

	 	•	 	 if the closing price of the Class A Ordinary Shares for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which we send the notice of redemption to the warrant holders is less than $18.00 per share (as adjusted for adjustments to the number of
shares issuable upon exercise or the exercise price of a Warrant as described under the heading “Warrants—Public Warrants—Anti-dilution Adjustments”), the Private Placement Warrants must also be concurrently called for
redemption on the same terms as the outstanding Public Warrants, as described above. 

 Beginning on the date the notice of redemption is
given and until the Warrants are redeemed or exercised, holders may elect to exercise their Warrants on a cashless basis. The numbers in the table below represent the number of Class A Ordinary Shares that a Warrant holder will receive upon
such cashless exercise in connection with a redemption by us pursuant to this redemption feature, based on the “fair market value” of our Class A Ordinary Shares on the corresponding redemption date (assuming holders elect to
exercise their Warrants and such Warrants are not redeemed for $0.10 per Warrant), determined for these purposes based on the volume-weighted average price of our Class A Ordinary Shares during the 10 trading days immediately following the date
on which the notice of redemption is sent to the holders of Warrants, and the number of months that the corresponding redemption date precedes the expiration date of the Warrants, each as set forth in the table below. We will provide our Warrant
holders with the final fair market value no later than one business day after the 10-trading day period described above ends. 

Pursuant to the warrant agreement, references above to Class A Ordinary Shares shall include a security other than Class A Ordinary Shares into
which the Class A Ordinary Shares have been converted or for which they have been exchanged in the event we are not the surviving company in our Initial Business Combination. 

The share prices set forth in the column headings of the table below will be adjusted as of any date on which the number of shares issuable upon exercise of a
Warrant or the exercise price of a Warrant is adjusted as set forth under the heading “—Redemption Procedures—Anti-dilution Adjustments” below. If the number of shares issuable upon exercise of a Warrant is adjusted, the
adjusted share prices in the column headings will equal the share prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the number of shares deliverable upon exercise of a Warrant immediately prior to such
adjustment and the denominator of which is the number of shares deliverable upon exercise of a Warrant as so adjusted. The number of shares in the table below shall be adjusted in the same manner and at the same time as the number of shares issuable
upon exercise of a Warrant. If the exercise price of a Warrant is adjusted, (a) in the case of an adjustment pursuant to the fifth paragraph under the heading “—Redemption Procedures—Anti-dilution Adjustments” below,
the adjusted share prices in the column headings will equal the unadjusted share prices multiplied by a fraction, the numerator of which is the higher of the Market Value and the Newly Issued Price as set forth under the heading
“—Redemption Procedures—Anti-dilution Adjustments” and the denominator of which is $10.00 and (b) in the case of an adjustment pursuant to the second paragraph under the heading “—Redemption
Procedures—Anti-dilution Adjustments” below, the adjusted share prices in the column headings will equal the unadjusted share prices less the decrease in the exercise price of a Warrant pursuant to such exercise price adjustment. 

 

																																					
	Redemption Date (period to expiration of 
warrants)	  	Fair Market Value of Class A Ordinary Shares	 
	  	≤$10.00	 	  	$11.00	 	  	$12.00	 	  	$13.00	 	  	$14.00	 	  	$15.00	 	  	$16.00	 	  	$17.00	 	  	≥$18.00	 
	 60 months
	  	 	0.261	 	  	 	0.281	 	  	 	0.297	 	  	 	0.311	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 57 months
	  	 	0.257	 	  	 	0.277	 	  	 	0.294	 	  	 	0.310	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 54 months
	  	 	0.252	 	  	 	0.272	 	  	 	0.291	 	  	 	0.307	 	  	 	0.322	 	  	 	0.335	 	  	 	0.347	 	  	 	0.357	 	  	 	0.361	 
	 51 months
	  	 	0.246	 	  	 	0.268	 	  	 	0.287	 	  	 	0.304	 	  	 	0.320	 	  	 	0.333	 	  	 	0.346	 	  	 	0.357	 	  	 	0.361	 

																																					
	Redemption Date (period to expiration of 
warrants)	  	Fair Market Value of Class A Ordinary Shares	 
	  	≤$10.00	 	  	$11.00	 	  	$12.00	 	  	$13.00	 	  	$14.00	 	  	$15.00	 	  	$16.00	 	  	$17.00	 	  	≥$18.00	 
	 48 months
	  	 	0.241	 	  	 	0.263	 	  	 	0.283	 	  	 	0.301	 	  	 	0.317	 	  	 	0.332	 	  	 	0.344	 	  	 	0.356	 	  	 	0.361	 
	 45 months
	  	 	0.235	 	  	 	0.258	 	  	 	0.279	 	  	 	0.298	 	  	 	0.315	 	  	 	0.330	 	  	 	0.343	 	  	 	0.356	 	  	 	0.361	 
	 42 months
	  	 	0.228	 	  	 	0.252	 	  	 	0.274	 	  	 	0.294	 	  	 	0.312	 	  	 	0.328	 	  	 	0.342	 	  	 	0.355	 	  	 	0.361	 
	 39 months
	  	 	0.221	 	  	 	0.246	 	  	 	0.269	 	  	 	0.290	 	  	 	0.309	 	  	 	0.325	 	  	 	0.340	 	  	 	0.354	 	  	 	0.361	 
	 36 months
	  	 	0.213	 	  	 	0.239	 	  	 	0.263	 	  	 	0.285	 	  	 	0.305	 	  	 	0.323	 	  	 	0.339	 	  	 	0.353	 	  	 	0.361	 
	 33 months
	  	 	0.205	 	  	 	0.232	 	  	 	0.257	 	  	 	0.280	 	  	 	0.301	 	  	 	0.320	 	  	 	0.337	 	  	 	0.352	 	  	 	0.361	 
	 30 months
	  	 	0.196	 	  	 	0.224	 	  	 	0.250	 	  	 	0.274	 	  	 	0.297	 	  	 	0.316	 	  	 	0.335	 	  	 	0.351	 	  	 	0.361	 
	 27 months
	  	 	0.185	 	  	 	0.214	 	  	 	0.242	 	  	 	0.268	 	  	 	0.291	 	  	 	0.313	 	  	 	0.332	 	  	 	0.350	 	  	 	0.361	 
	 24 months
	  	 	0.173	 	  	 	0.204	 	  	 	0.233	 	  	 	0.260	 	  	 	0.285	 	  	 	0.308	 	  	 	0.329	 	  	 	0.348	 	  	 	0.361	 
	 21 months
	  	 	0.161	 	  	 	0.193	 	  	 	0.223	 	  	 	0.252	 	  	 	0.279	 	  	 	0.304	 	  	 	0.326	 	  	 	0.347	 	  	 	0.361	 
	 18 months
	  	 	0.146	 	  	 	0.179	 	  	 	0.211	 	  	 	0.242	 	  	 	0.271	 	  	 	0.298	 	  	 	0.322	 	  	 	0.345	 	  	 	0.361	 
	 15 months
	  	 	0.130	 	  	 	0.164	 	  	 	0.197	 	  	 	0.230	 	  	 	0.262	 	  	 	0.291	 	  	 	0.317	 	  	 	0.342	 	  	 	0.361	 
	 12 months
	  	 	0.111	 	  	 	0.146	 	  	 	0.181	 	  	 	0.216	 	  	 	0.250	 	  	 	0.282	 	  	 	0.312	 	  	 	0.339	 	  	 	0.361	 
	 9 months
	  	 	0.090	 	  	 	0.125	 	  	 	0.162	 	  	 	0.199	 	  	 	0.237	 	  	 	0.272	 	  	 	0.305	 	  	 	0.336	 	  	 	0.361	 
	 6 months
	  	 	0.065	 	  	 	0.099	 	  	 	0.137	 	  	 	0.178	 	  	 	0.219	 	  	 	0.259	 	  	 	0.296	 	  	 	0.331	 	  	 	0.361	 
	 3 months
	  	 	0.034	 	  	 	0.065	 	  	 	0.104	 	  	 	0.150	 	  	 	0.197	 	  	 	0.243	 	  	 	0.286	 	  	 	0.326	 	  	 	0.361	 
	 0 months
	  	 	—  	 	  	 	—  	 	  	 	0.042	 	  	 	0.115	 	  	 	0.179	 	  	 	0.233	 	  	 	0.281	 	  	 	0.323	 	  	 	0.361	 

 The exact fair market value and redemption date may not be set forth in the table above, in which case, if the fair market
value is between two values in the table or the redemption date is between two redemption dates in the table, the number of Class A Ordinary Shares to be issued for each Warrant exercised will be determined by a straight-line interpolation
between the number of shares set forth for the higher and lower fair market values and the earlier and later redemption dates, as applicable, based on a 365 or 366-day year, as applicable. For example, if the
volume weighted average price of our Class A Ordinary Shares during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of the Warrants is $11.00 per share, and at such time there are 57
months until the expiration of the Warrants, holders may choose to, in connection with this redemption feature, exercise their Warrants for 0.277 Class A Ordinary Shares for each whole Warrant. For an example where the exact fair market value
and redemption date are not as set forth in the table above, if the volume-weighted average price of our Class A Ordinary Shares during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders
of the Warrants is $13.50 per share, and at such time there are 38 months until the expiration of the Warrants, holders may choose to, in connection with this redemption feature, exercise their Warrants for 0.298 Class A Ordinary Shares for
each whole Warrant. In no event will the Warrants be exercisable on a cashless basis in connection with this redemption feature for more than 0.361 Class A Ordinary Shares per Warrant (subject to adjustment). Finally, as reflected in the table
above, if the Warrants are out of the money and about to expire, they cannot be exercised on a cashless basis in connection with a redemption by us pursuant to this redemption feature, since they will not be exercisable for any Class A Ordinary
Shares. 
 This redemption feature differs from the typical Warrant redemption features used in many other blank check company offerings, which typically
only provide for a redemption of Warrants for cash (other than the Private Placement Warrants) when the trading price for the Class A Ordinary Shares exceeds $18.00 per share for a specified period of time. This redemption feature is structured
to allow for all of the outstanding Warrants to be redeemed when the Class A Ordinary Shares are trading at or above $10.00 per public share, which may be at a time when the trading price of our Class A Ordinary Shares is below the
exercise price of the Warrants. We have established this redemption feature to provide us with the flexibility to redeem the warrants without the warrants having to reach the $18.00 per share threshold set forth above under “—Redemption
of warrants when the price per Class A Ordinary Share equals or exceeds $18.00.” Holders choosing to exercise their warrants in connection with a redemption pursuant to this feature will, in effect, receive a number of
shares for their Warrants based on an option pricing model with a fixed volatility input as of the date of the Prospectus. This redemption right provides us with an additional mechanism by which to redeem all of the outstanding Warrants, and
therefore have certainty as to our capital structure as the Warrants would no longer be outstanding and would have been exercised or redeemed. We will be required to pay the applicable redemption price to Warrant holders if we choose to exercise
this redemption right and it will allow us to quickly proceed with a redemption of the Warrants if we determine it is in our best interest to do so. As such, we would redeem the Warrants in this manner when we believe it is in our best interest to
update our capital structure to remove the Warrants and pay the redemption price to the Warrant holders. 

 As stated above, we can redeem the Warrants when the Class A Ordinary Shares are trading at a price
starting at $10.00, which is below the exercise price of $11.50, because it will provide certainty with respect to our capital structure and cash position while providing Warrant holders with the opportunity to exercise their warrants on a cashless
basis for the applicable number of shares. If we choose to redeem the Warrants when the Class A Ordinary Shares are trading at a price below the exercise price of the Warrants, this could result in the Warrant holders receiving fewer
Class A Ordinary Shares than they would have received if they had chosen to wait to exercise their Warrants for Class A Ordinary Shares if and when such Class A Ordinary Shares were trading at a price higher than the exercise price of
$11.50. 
 No fractional Class A Ordinary Shares will be issued upon exercise. If, upon exercise, a holder would be entitled to receive a fractional
interest in a share, we will round down to the nearest whole number the number of Class A Ordinary Shares to be issued to the holder. If, at the time of redemption, the Warrants are exercisable for a security other than the Class A
Ordinary Shares pursuant to the warrant agreement (for instance, if we are not the surviving company in our Initial Business Combination), the Warrants may be exercised for such security. At such time as the Warrants become exercisable for a
security other than the Class A Ordinary Shares, the Company (or surviving company) will use its commercially reasonable efforts to register under the Securities Act the security issuable upon the exercise of the Warrants. 

Redemption procedures. A holder of a Warrant may notify us in writing in the event it elects to be subject to a requirement that such holder
will not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such person’s affiliates), to the Warrants agent’s actual knowledge, would beneficially own in excess of
4.9% or 9.8% (as specified by the holder) of the Class A Ordinary Shares outstanding immediately after giving effect to such exercise. 

Anti-dilution Adjustments. If the number of outstanding Class A Ordinary Shares is increased by a share capitalization paid in Class A
Ordinary Shares to all or substantially all holders of Class A Ordinary Shares, or by a sub-division of ordinary shares or other similar event, then, on the effective date of such share capitalization, sub-division or similar event, the number of Class A Ordinary Shares issuable on exercise of each Warrant will be increased in proportion to such increase in the outstanding ordinary shares. A rights offering
made to all or substantially all holders of ordinary shares entitling holders to purchase Class A Ordinary Shares at a price less than the fair market value will be deemed a share capitalization of a number of Class A Ordinary Shares equal
to the product of (i) the number of Class A Ordinary Shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for Class A
Ordinary Shares) and (ii) the quotient of (x) the price per Class A Ordinary Shares paid in such rights offering and (y) the fair market value. For these purposes (i) if the rights offering is for securities convertible into
or exercisable for Class A Ordinary Shares, in determining the price payable for Class A Ordinary Shares, there will be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise
or conversion and (ii) fair market value means the volume weighted average price of Class A Ordinary Shares as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the Class A
Ordinary Shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. 
 In addition, if we,
at any time while the Warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to all or substantially all the holders of Class A Ordinary Shares on account of such Class A Ordinary
Shares (or other securities into which the Warrants are convertible), other than (a) as described above, (b) certain ordinary cash dividends, (c) to satisfy the redemption rights of the holders of Class A Ordinary Shares in
connection with a proposed initial business combination or extension of the time period in which we must complete an initial business combination, (d) to satisfy the redemption rights of the holders of Class A Ordinary Shares in connection
with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination
or to redeem 100% of our public shares if we have not consummated an initial business combination within 24 months from the closing of this offering or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity or (e) in connection with the redemption of our Public Shares upon our failure to complete our Initial Business Combination, then the Warrant exercise price will be
decreased, effective immediately after the effective date of such event, by the amount of cash and/or the fair market value of any securities or other assets paid on each Class A Ordinary Shares in respect of such event. 

 If the number of outstanding Class A Ordinary Shares is decreased by a consolidation, combination,
reverse share sub-division or reclassification of Class A Ordinary Shares or other similar event, then, on the effective date of such consolidation, combination, reverse share sub-division, reclassification or similar event, the number of Class A Ordinary Shares issuable on exercise of each Warrant will be decreased in proportion to such decrease in outstanding Class A Ordinary
Shares. 
 Whenever the number of Class A Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as described above, the Warrant
exercise price will be adjusted by multiplying the Warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which will be the number of Class A Ordinary Shares purchasable upon the exercise of the
Warrants immediately prior to such adjustment, and (y) the denominator of which will be the number of Class A Ordinary Shares so purchasable immediately thereafter. 

In addition, if (x) we issue additional Class A Ordinary Shares or equity-linked securities for capital raising purposes in connection with the
closing of our Initial Business Combination at a Newly Issued Price of less than $9.20 per Class A Ordinary Shares, (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest
thereon, available for the funding of our Initial Business Combination on the date of the consummation of our Initial Business Combination (net of redemptions), and (z) the Market Value of our Class A Ordinary Shares is below $9.20 per
share, then the exercise price of the Warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption trigger prices described above under
“Warrants—Public Warrants—Redemption of warrants when the price per Class A Ordinary Share equals or exceeds $18.00” and “Redemption of warrants when the price per Class A
Ordinary Share equals or exceeds $10.00” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price described above under
“Warrants—Public Warrants—Redemption of Warrants when the price per Class A Ordinary Share equals or exceeds $10.00” will be adjusted (to the nearest cent) to be equal to the higher of the Market Value
and the Newly Issued Price. 
 In case of any reclassification or reorganization of the outstanding Class A Ordinary Shares (other than those described
above or that solely affects the par value of such Class A Ordinary Shares), or in the case of any merger or consolidation of us with or into another corporation (other than a consolidation or merger in which we are the continuing corporation
and that does not result in any reclassification or reorganization of our issued and outstanding Class A Ordinary Shares), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of us as an
entirety or substantially as an entirety in connection with which we are dissolved, the holders of the Warrants will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in
lieu of the Class A Ordinary Shares immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of Class A Ordinary Shares or other securities or property (including cash)
receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the Warrants would have received if such holder had exercised their Warrants immediately
prior to such event. If less than 70% of the consideration receivable by the holders of Class A Ordinary Shares in such a transaction is payable in the form of Class A Ordinary Shares in the successor entity that is listed for trading on a
national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if
the registered holder of the Warrant properly exercises the Warrant within thirty days following public disclosure of such transaction, the Warrant exercise price will be reduced as specified in the warrant agreement based on the Black-Scholes
Warrant Value (as defined in the warrant agreement) of the Warrant. 
 The Warrants will be issued in registered form under a warrant agreement between
Continental Stock Transfer & Trust Company, as warrant agent, and us. The warrant agreement provides that the terms of the Warrants may be amended without the consent of any holder for the purpose of (i) curing any ambiguity or to
correct any defective provision or mistake, including to conform the provisions of the warrant agreement to the description of the terms of the Warrants and the warrant agreement set forth in the Prospectus, (ii) adjusting the provisions
relating to cash dividends on ordinary shares as contemplated by and in accordance with the warrant agreement or (iii) adding or changing any provisions with respect to matters or questions arising under the warrant agreement as the parties to
the warrant agreement may deem necessary or desirable and that the parties deem to not adversely affect the rights of the registered holders of the Warrant, provided that the approval by the holders of at least 50% of the then-outstanding
Public Warrants is required to make any change that adversely affects the interests of the registered holders of Public Warrants, and, solely with respect to any amendment to the terms of the Private Placement Warrants, 50% of the then outstanding
Private Placement Warrants. You should review a copy of the warrant agreement, which is filed as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.5 is a part, for a complete description of
the terms and conditions applicable to the warrants. 

 The Warrants may be exercised upon surrender of the warrant certificate on or prior to the expiration date
at the offices of the warrant agent, with the exercise form on the reverse side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price (or on a cashless basis, if applicable), by certified
or official bank check payable to us, for the number of Warrants being exercised. The Warrant holders do not have the rights or privileges of holders of ordinary shares and any voting rights until they exercise their warrants and receive
Class A Ordinary Shares. After the issuance of Class A Ordinary Shares upon exercise of the Warrants, each holder will be entitled to one vote for each share held of record on all matters to be voted on by shareholders. 

Private Placement Warrants 
 The Private Placement
Warrants (including the Class A Ordinary Shares issuable upon exercise of such Warrants) will not be transferable, assignable or salable until 30 days after the completion of our Initial Business Combination (except, among other limited
exceptions as described under the section of the Prospectus entitled “Principal Shareholders—Transfers of Founder Shares and Private Placement Warrants,” to our officers and directors and other persons or entities affiliated
with our Sponsor) and they will not be redeemable by us so long as they are held by our Sponsor, members of our Sponsor or their permitted transferees, except as described above under “—Warrants—Public Warrants—Redemption of
Warrants when the price per Class A Ordinary Share equals or exceeds $10.00”. The Sponsor or its permitted transferees, have the option to exercise the Private Placement Warrants on a cashless basis. Except as described
below, the Private Placement Warrants have terms and provisions that are identical to those of the Warrants sold as part of the Units in the Initial Public Offering. If the Private Placement Warrants are held by holders other than the Sponsor or its
permitted transferees, the Private Placement Warrants will be redeemable by us and exercisable by the holders on the same basis as the warrants included in the Units sold in the Initial Public Offering. 

Except as described above under “—Warrants—Public Warrants—Redemption of Warrants when the price per Class A
Ordinary Share equals or exceeds $10.00,” if holders of the Private Placement Warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering his, her or its Warrants for that number of Class A
Ordinary Shares equal to the quotient obtained by dividing (x) the product of the number of Class A Ordinary Shares underlying the Warrants, multiplied by the excess of the “fair market value” of our Class A Ordinary Shares
(defined below) over the exercise price of the Warrants by (y) the fair market value. The “fair market value” will mean the average reported closing price of the Class A Ordinary Shares for the 10 trading days ending on
the third trading day prior to the date on which the notice of Warrant exercise is sent to the warrant agent. The reason that we have agreed that these Warrants will be exercisable on a cashless basis so long as they are held by the Sponsor or its
permitted transferees is because it is not known at this time whether they will be affiliated with us following a business combination. If they remain affiliated with us, their ability to sell our securities in the open market will be significantly
limited. We expect to have policies in place that prohibit insiders from selling our securities except during specific periods of time. Even during such periods of time when insiders will be permitted to sell our securities, an insider cannot trade
in our securities if he or she is in possession of material non-public information. Accordingly, unlike public shareholders who could exercise their Warrants and sell the Class A Ordinary Shares received
upon such exercise freely in the open market in order to recoup the cost of such exercise, the insiders could be significantly restricted from selling such securities. As a result, we believe that allowing the holders to exercise such Warrants on a
cashless basis is appropriate. 
 Dividends 
 We have
not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of a business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if
any, capital requirements and general financial condition subsequent to completion of a business combination. The payment of any cash dividends subsequent to a business combination will be within the discretion of our board of directors at such
time. If we incur any indebtedness, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith. 

 Our Transfer Agent and Warrant Agent 

The transfer agent for our ordinary shares and warrant agent for our Warrants is Continental Stock Transfer & Trust Company. We have agreed to
indemnify Continental Stock Transfer & Trust Company in its roles as transfer agent and warrant agent, its agents and each of its shareholders, directors, officers and employees against all claims and losses that may arise out of acts
performed or omitted for its activities in that capacity, except for any liability due to any gross negligence or intentional misconduct of the indemnified person or entity. Continental Stock Transfer & Trust Company has agreed that it has
no right of set-off or any right, title, interest or claim of any kind to, or to any monies in, the Trust Account , and has irrevocably waived any right, title, interest or claim of any kind to, or to any
monies in, the Trust Account that it may have now or in the future. Accordingly, any indemnification provided will only be able to be satisfied, or a claim will only be able to be pursued, solely against us and our assets outside the Trust Account
and not against the any monies in the Trust Account or interest earned thereon. 
 Certain Differences in Corporate Law 

Cayman Islands companies are governed by the Companies Act. The Companies Act is modeled on English Law but does not follow recent English Law statutory
enactments, and differs from laws applicable to United States corporations and their shareholders. Set forth below is a summary of the material differences between the provisions of the Companies Act applicable to us and the laws applicable to
companies incorporated in the United States and their shareholders. 
 Mergers and Similar Arrangements. In certain circumstances, the
Companies Act allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman Islands exempted company and a company incorporated in another jurisdiction (provided that is facilitated by the laws of that other
jurisdiction). 
 Where the merger or consolidation is between two Cayman Islands companies, the directors of each company must approve a written plan of
merger or consolidation containing certain prescribed information. That plan or merger or consolidation must then be authorized by either (a) a special resolution (usually a majority of 662/3% in value of the voting shares voted at a general
meeting) of the shareholders of each company; or (b) such other authorization, if any, as may be specified in such constituent company’s articles of association. No shareholder resolution is required for a merger between a parent company
(i.e., a company that owns at least 90% of the issued shares of each class in a subsidiary company) and its subsidiary company. The consent of each holder of a fixed or floating security interest of a constituent company must be obtained, unless the
court waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the requirements of the Companies Act (which includes certain other formalities) have been complied with, the Registrar of Companies will register the plan
of merger or consolidation. 
 Where the merger or consolidation involves a foreign company, the procedure is similar, save that with respect to the foreign
company, the directors of the Cayman Islands exempted company are required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the merger or
consolidation is permitted or not prohibited by the constitutional documents of the foreign company and by the laws of the jurisdiction in which the foreign company is incorporated, and that those laws and any requirements of those constitutional
documents have been or will be complied with; (ii) that no petition or other similar proceeding has been filed and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign company in any jurisdictions;
(iii) that no receiver, trustee, administrator or other similar person has been appointed in any jurisdiction and is acting in respect of the foreign company, its affairs or its property or any part thereof; (iv) that no scheme, order,
compromise or other similar arrangement has been entered into or made in any jurisdiction whereby the rights of creditors of the foreign company are and continue to be suspended or restricted. 

Where the surviving company is the Cayman Islands exempted company, the directors of the Cayman Islands exempted company are further required to make a
declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the foreign company is able to pay its debts as they fall due and that the merger or consolidated is
bona fide and not intended to defraud unsecured creditors of the foreign company; (ii) that in respect of the transfer of any security interest granted by the foreign company to the surviving or consolidated company (a) consent or
approval to the transfer has been obtained, released or waived; (b) 

 the transfer is permitted by and has been approved in accordance with the constitutional documents of the
foreign company; and (c) the laws of the jurisdiction of the foreign company with respect to the transfer have been or will be complied with; (iii) that the foreign company will, upon the merger or consolidation becoming effective, cease
to be incorporated, registered or exist under the laws of the relevant foreign jurisdiction; and (iv) that there is no other reason why it would be against the public interest to permit the merger or consolidation. 

Where the above procedures are adopted, the Companies Act provides for a right of dissenting shareholders to be paid a payment of the fair value of his shares
upon their dissenting to the merger or consolidation if they follow a prescribed procedure. In essence, that procedure is as follows (a) the shareholder must give his written objection to the merger or consolidation to the constituent company
before the vote on the merger or consolidation, including a statement that the shareholder proposes to demand payment for his shares if the merger or consolidation is authorized by the vote; (b) within 20 days following the date on which the
merger or consolidation is approved by the shareholders, the constituent company must give written notice to each shareholder who made a written objection; (c) a shareholder must within 20 days following receipt of such notice from the
constituent company, give the constituent company a written notice of his intention to dissent including, among other details, a demand for payment of the fair value of his shares; (d) within seven days following the date of the expiration of
the period set out in paragraph (b) above or seven days following the date on which the plan of merger or consolidation is filed, whichever is later, the constituent company, the surviving company or the consolidated company must make a written
offer to each dissenting shareholder to purchase his shares at a price that the company determines is the fair value and if the company and the shareholder agree the price within 30 days following the date on which the offer was made, the company
must pay the shareholder such amount; and (e) if the company and the shareholder fail to agree a price within such 30 day period, within 20 days following the date on which such 30 day period expires, the company (and any dissenting
shareholder) must file a petition with the Cayman Islands Grand Court to determine the fair value and such petition must be accompanied by a list of the names and addresses of the dissenting shareholders with whom agreements as to the fair value of
their shares have not been reached by the company. At the hearing of that petition, the court has the power to determine the fair value of the shares together with a fair rate of interest, if any, to be paid by the company upon the amount determined
to be the fair value. Any dissenting shareholder whose name appears on the list filed by the company may participate fully in all proceedings until the determination of fair value is reached. These rights of a dissenting shareholder are not
available in certain circumstances, for example, to dissenters holding shares of any class in respect of which an open market exists on a recognized stock exchange or recognized interdealer quotation system at the relevant date or where the
consideration for such shares to be contributed are shares of any company listed on a national securities exchange or shares of the surviving or consolidated company. 

Moreover, Cayman Islands law has separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances,
schemes of arrangement will generally be more suited for complex mergers or other transactions involving widely held companies, commonly referred to in the Cayman Islands as a “scheme of arrangement” which may be tantamount to a merger. In
the event that a merger was sought pursuant to a scheme of arrangement (the procedures for which are more rigorous and take longer to complete than the procedures typically required to consummate a merger in the United States), the arrangement in
question must be approved by a majority in number of each class of shareholders and creditors with whom the arrangement is to be made and who must in addition represent three-fourths in value of each such class of shareholders or creditors, as the
case may be, that are present and voting either in person or by proxy at a meeting, or meeting summoned for that purpose. The convening of the meetings and subsequently the terms of the arrangement must be sanctioned by the Grand Court of the Cayman
Islands. While a dissenting shareholder would have the right to express to the court the view that the transaction should not be approved, the court can be expected to approve the arrangement if it satisfies itself that: 

 

	 	•	 	 we are not proposing to act illegally or beyond the scope of our corporate authority and the statutory provisions
as to majority vote have been complied with; 

  

	 	•	 	 the shareholders have been fairly represented at the meeting in question; 

 

	 	•	 	 the arrangement is such as a businessman would reasonably approve; and 

 

	 	•	 	 the arrangement is not one that would more properly be sanctioned under some other provision of the Companies Act
or that would amount to a “fraud on the minority.” 

 If a scheme of arrangement or takeover offer (as described below) is approved, any dissenting shareholder
would have no rights comparable to appraisal rights (providing rights to receive payment in cash for the judicially determined value of the shares), which would otherwise ordinarily be available to dissenting shareholders of United States
corporations. 
 Squeeze-out Provisions. When a takeover offer is made and accepted by holders of 90%
of the shares to whom the offer relates is made within four months, the offeror may, within a two-month period, require the holders of the remaining shares to transfer such shares on the terms of the offer. An
objection can be made to the Grand Court of the Cayman Islands but this is unlikely to succeed unless there is evidence of fraud, bad faith, collusion or inequitable treatment of the shareholders. 

Further, transactions similar to a merger, reconstruction and/or an amalgamation may in some circumstances be achieved through means other than these
statutory provisions, such as a share capital exchange, asset acquisition or control, or through contractual arrangements, of an operating business. 

Shareholders’ Suits. Maples and Calder, our Cayman Islands legal counsel, is not aware of any reported class action having been brought in
a Cayman Islands court. Derivative actions have been brought in the Cayman Islands courts, and the Cayman Islands courts have confirmed the availability for such actions. In most cases, we will be the proper plaintiff in any claim based on a breach
of duty owed to us, and a claim against (for example) our officers or directors usually may not be brought by a shareholder. However, based both on Cayman Islands authorities and on English authorities, which would in all likelihood be of persuasive
authority and be applied by a court in the Cayman Islands, exceptions to the foregoing principle apply in circumstances in which: 
  

	 	•	 	 a company is acting, or proposing to act, illegally or beyond the scope of its authority; 

 

	 	•	 	 the act complained of, although not beyond the scope of the authority, could be effected if duly authorized by
more than the number of votes which have actually been obtained; or 

  

	 	•	 	 those who control the company are perpetrating a “fraud on the minority.” 

A shareholder may have a direct right of action against us where the individual rights of that shareholder have been infringed or are about to be infringed.

 Enforcement of Civil Liabilities. The Cayman Islands has a different body of securities laws as compared to the United States and provides
less protection to investors. Additionally, Cayman Islands companies may not have standing to sue before the Federal courts of the United States. 
 We have
been advised by Maples and Calder (Singapore) LLP, our Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments of courts of the United States predicated upon the civil
liability provisions of the federal securities laws of the United States or any state; and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us predicated upon the civil liability provisions of the federal
securities laws of the United States or any state, so far as the liabilities imposed by those provisions are penal in nature. In those circumstances, although there is no statutory enforcement in the Cayman Islands of judgments obtained in the
United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court
imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a
liquidated sum, and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of
which is, contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman Islands Court may stay enforcement proceedings if concurrent
proceedings are being brought elsewhere. 
 Special Considerations for Exempted Companies. We are an exempted company with limited liability
(meaning our public shareholders have no liability, as members of the company, for liabilities of the company over and above the amount paid for their shares) under the Companies Act. The Companies Act distinguishes between ordinary resident
companies and exempted companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to be registered as an exempted company. The requirements for an exempted company are
essentially the same as for an ordinary company except for the exemptions and 
  

	 	•	 	 annual reporting requirements are minimal and consist mainly of a statement that the company has conducted its
operations mainly outside of the Cayman Islands and has complied with the provisions of the Companies Act; 

	 	•	 	 an exempted company’s register of members is not open to inspection; 

 

	 	•	 	 an exempted company does not have to hold an annual general meeting; 

 

	 	•	 	 an exempted company may issue negotiable or bearer shares or shares with no par value; 

 

	 	•	 	 an exempted company may obtain an undertaking against the imposition of any future taxation (such undertakings
are usually given for 20 years in the first instance); 

  

	 	•	 	 an exempted company may register by way of continuation in another jurisdiction and be deregistered in the Cayman
Islands; 

  

	 	•	 	 an exempted company may register as a limited duration company; and 

 

	 	•	 	 an exempted company may register as a segregated portfolio company. 

Amended and Restated Memorandum and Articles of Association 

The Business Combination Article of our amended and restated memorandum and articles of association contains provisions designed to provide certain rights and
protections relating to the Initial Public Offering that will apply to us until the completion of our Initial Business Combination. These provisions cannot be amended without a special resolution. As a matter of Cayman Islands law, a resolution is
deemed to be a special resolution where it has been approved by either (i) at least two-thirds (or any higher threshold specified in a company’s articles of association) of a company’s
shareholders at a general meeting for which notice specifying the intention to propose the resolution as a special resolution has been given; or (ii) if so authorized by a company’s articles of association, by a unanimous written
resolution of all of the company’s shareholders. Our amended and restated memorandum and articles of association provide that special resolutions must be approved either by at least two-thirds of our
shareholders (i.e., the lowest threshold permissible under Cayman Islands law), or by a unanimous written resolution of all of our shareholders. 
 Holders
of Founder Shares, who collectively beneficially own 20% of our ordinary shares, will participate in any vote to amend our amended and restated memorandum and articles of association and will have the discretion to vote in any manner they choose.
Specifically, our amended and restated memorandum and articles of association provide, among other things, that: 
  

	 	•	 	 If we are unable to complete our Initial Business Combination within 24 months from the closing of the Initial
Public Offering, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public shares, at a
per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (which interest shall be less taxes
payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to
receive further liquidation distributions, if any) and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in the
case of clauses (ii) and (iii) to our obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law; 

 

	 	•	 	 Prior to our Initial Business Combination, we may not issue additional securities that would entitle the holders
thereof to (i) receive funds from the Trust Account or (ii) vote on our Initial Business Combination; 

  

	 	•	 	 If a shareholder vote on our Initial Business Combination is not required by law and we do not decide to hold a
shareholder vote for business or other legal reasons, we will offer to redeem our public shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act of 1034 (the “Exchange Act”) , and will
file tender offer documents with the SEC prior to completing our Initial Business Combination which contain substantially the same financial and other information about our Initial Business Combination and the redemption rights as is required under
Regulation 14A of the Exchange Act; 

	 	•	 	 If our shareholders approve an amendment to our amended and restated memorandum and articles of association
(A) to modify the substance or timing of our obligation to allow redemption in connection with our Initial Business Combination or to redeem 100% of our public shares if we do not complete our Initial Business Combination within 24 months from
the closing of the Initial Public Offering or (B) with respect to any other material provisions relating to shareholders’ rights or pre-Initial Business Combination activity, we will provide our public shareholders with the opportunity to
redeem all or a portion of their Class A Ordinary Shares upon such approval at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest
earned on the funds held in the Trust Account and not previously released to us to pay our taxes, divided by the number of then outstanding public shares, subject to the limitations and on the conditions described herein; and 

 

	 	•	 	 We will not effectuate our Initial Business Combination with another blank check company or a similar company
with nominal operations. 

 In addition, our amended and restated memorandum and articles of association provide we will not redeem our
public shares in an amount that would cause our net tangible assets to be less than $5,000,001. We may, however, raise funds through the issuance of equity-linked securities or through loans, advances or other indebtedness in connection with our
Initial Business Combination, including pursuant to forward purchase agreements or backstop arrangements we may enter into, in order to, among other reasons, satisfy such net tangible assets requirement. 

The Companies Act permits a company incorporated in the Cayman Islands to amend its memorandum and articles of association with the approval of a special
resolution. A company’s articles of association may specify that the approval of a higher majority is required but, provided the approval of the required majority is obtained, any Cayman Islands exempted company may amend its memorandum and
articles of association regardless of whether its memorandum and articles of association provides otherwise. Accordingly, although we could amend any of the provisions relating to our proposed offering, structure and business plan which are
contained in our amended and restated memorandum and articles of association, we view all of these provisions as binding obligations to our shareholders and neither we, nor our officers or directors, will take any action to amend or waive any of
these provisions unless we provide dissenting public shareholders with the opportunity to redeem their public shares. 
 Anti-Money
Laundering—Cayman Islands 
 If any person in the Cayman Islands knows or suspects or has reasonable grounds for knowing or suspecting that another
person is engaged in criminal conduct or money laundering or is involved with terrorism or terrorist financing and property and the information for that knowledge or suspicion came to their attention in the course of business in the regulated
sector, or other trade, profession, business or employment, the person will be required to report such knowledge or suspicion to (i) the Financial Reporting Authority of the Cayman Islands, pursuant to the Proceeds of Crime Act (2020 Revision)
of the Cayman Islands if the disclosure relates to criminal conduct or money laundering, or (ii) a police officer of the rank of constable or higher, or the Financial Reporting Authority, pursuant to the Terrorism Act (2018 Revision) of the
Cayman Islands, if the disclosure relates to involvement with terrorism or terrorist financing and property. Such a report shall not be treated as a breach of confidence or of any restriction upon the disclosure of information imposed by any
enactment or otherwise. 
 Certain Anti-Takeover Provisions of our Amended and Restated Memorandum and Articles of Association 

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

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

 Registration Rights 

The holders of the (i) Founder Shares, (ii) Private Placement Warrants and the Class A Ordinary Shares underlying such Private Placement
Warrants and (iii) Private Placement Warrants that may be issued upon conversion of working capital loans have registration rights to require us to register a sale of any of our securities held by them pursuant to a registration rights
agreement, requiring us to register such securities for resale. The holders of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders have certain
“piggy-back” registration rights with respect to registration statements filed subsequent to our completion of our Initial Business Combination. We will bear the expenses incurred in connection with the filing of any such registration
statements. 
 Listing of Securities 
 Our Units trade
on Nasdaq under the symbol “VPCBU.” The Class A Ordinary Shares and Warrants will trade on Nasdaq under the symbols “VPCB” and “VPCBW,” respectively.Exhibit 4.1

    

     

      

  

   CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE OF INFORMATION THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. INFORMATION THAT WAS
      OMITTED HAS BEEN NOTED IN THIS DOCUMENT WITH A PLACEHOLDER IDENTIFIED BY THE MARK “[***]”.

    
    
       

      

      OPTION AGREEMENT

      

      

      THIS OPTION AGREEMENT (this “Agreement”)
        is made and entered into effective as of October 20th, 2021 (the “Effective Date”), by and among Hyperion Materials & Technologies, LLC, a
        North Carolina limited liability company (“Hyperion”), Hyperion Metals Limited, an Australian public limited liability company listed on the
        Australian Securities Exchange (ASX: HYM) ("HYM"), Blacksand Technology, LLC, a Utah limited liability company (“Blacksand”), Zhigang Zak Fang (“Zak”), Wenfang Bian Fang, Pei Sun, and
        Madapusi K. Keshavan (each a “Member” and collectively, the “Members”).  The parties to this Agreement are each referred to as a “Party” and collective the “Parties”.

      

      

      Background:

      

      

      A.

      Hyperion is engaged in the business of developing commercial uses and applications of titanium and titanium
        alloy powders and other metals and materials.

      

      

      B.

      Blacksand is engaged in the business of developing proprietary and patented technologies to produce low-cost
        titanium including the processes for making titanium primary metal from titanium minerals and titanium powders for use with additive manufacturing and near net shape manufacturing of metal parts.

      

      

      C.

      Blacksand is a party to a certain License Agreement, dated August 31, 2015, between the University of Utah
        Research Foundation (“UURF”) as licensor, and Blacksand as licensee (as amended, the “License Agreement”).

      

      

      D.

      The Members collectively own all of the membership interests of Blacksand as more particularly set forth on Exhibit A (each a “Membership Interest” and collectively,
        the “Membership Interests”).

      

      

      E.

      The Parties desire to enter into this Agreement to grant Hyperion the option to purchase the Membership
        Interests and thereby acquire 100% of the ownership interests of Blacksand.

      

      

      NOW, THEREFORE, in consideration of the mutual representations, warranties, covenants and agreements contained herein and for other
        good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and upon the terms and subject to the conditions hereinafter set forth, the Parties hereto, intending to be legally bound hereby, hereby agree as follows:

      

      

      1.

      Definitions.

      

      

      (a)

      “Additional
          Amount” means 0.5% multiplied by Net Sales after Closing in excess of $300,000,000.

      

      

      (b)

      “Affiliate”
        means with respect to any specified Person, any Person that, directly or indirectly, controls, is controlled by, or is under common control with, such specified Person, through one or more intermediaries or otherwise.

      

      

      (c)

      “Agreement”
        has the meaning set forth in the introductory paragraph.

      

      

      (d)

      “Blacksand”
        has the meaning set forth in the introductory paragraph.

      

      

      
        
          

      

      
      

      

      (e)

      “Blacksand
          Real Property” means all real property owned, leased, or used by Blacksand, and all other real property for which Blacksand has the option to purchase, lease or otherwise acquire or use, including but not limited to the Covered Property.

      

      

      (f)

      “Business
          Day” means any day other than a Saturday, a Sunday, or a day on which banks in the State of North Carolina are required or authorized to be closed.

      

      

      (g)

      “Claim”
        means any claim, action, demand, lawsuit, or other proceeding of any nature brought against a Person entitled to indemnification in accordance with this Agreement.

      

      

      (h)

      “Closing”
        has the meaning set forth in Section 3(a).

      

      

      (i)

      “Closing
          Date” has the meaning set forth in Section 3(a).

      

      

      (j)

      “Company
          Paid Amount” has the meaning set forth in Section 2(c).

      

      

      (k)

      “Conditions
          Precedent” has the meaning set forth in Section 3(b)(i).

      

      

      (l)

      “Confidential
          Information” has the meaning set forth in Section 11(a).

      

      

      (m)

      “Covered
          Property” means the Blacksand Real Property set forth on Exhibit B.

      

      

      (n)

      “Disclosing
          Party” has the meaning set forth in Section 11(a).

      

      

      (o)

      “Dollars”
        or “$” means United States Dollars.

      

      

      (p)

      “Effective
          Date” has the meaning set forth in the introductory paragraph.

      

      

      (q)

      "Employment
          Agreement" means any agreement as of the Effective Date between a Member and Blacksand which governs the Member’s terms of employment, consultancy or contractor arrangement with Blacksand (as applicable).

      

      

      (r)

      “Encumbrance”
        means all liens (statutory or otherwise), charges, mortgages, pledges, hypothecations, leases, subleases, occupancy agreements, title retention agreements, adverse interests, title defects, security interests, deeds of trust, claims, licenses,
        rights of way, servitudes, deemed statutory trusts for taxes,  preferences, priorities, options, warrants, rights of first refusal, rights of first offer, preemptive rights, voting trusts or agreements, proxies, community property interests,
        security agreements, easements, encroachments, covenants, restrictions, burdens or other encumbrances of any kind or nature whatsoever.

      

      

      
        2

        
          

      

      

      

      (s)

      “Exercise
          Date” has the meaning set forth in Section 2(b).

      

      

      (t)

      “Governmental
          Authority” means (i) the United States of America or any other nation, any state, province, local or other political subdivision thereof, (ii) any entity, agency, instrumentality, commission, department, board, bureau, tribunal, court or
        authority exercising any executive, legislative, judicial, regulatory or administrative functions of government, whether international, foreign, provincial, domestic, federal, state, province, municipal or local, (iii) any arbitrator or mediator,
        and (iv) any other agency, body, exchange, authority or organization similar to the foregoing having jurisdiction or regulatory authority over Blacksand.

      

      

      (u)

      "Group"
        means Blacksand (from and after the Closing Date), Hyperion, HYM and any of their Affiliates.

      

      

      (v)

      “Hyperion”
        has the meaning set forth in the introductory paragraph.

      

      

      (w)

      "HYM"
        has the meaning set forth in the introductory paragraph.

      

      

      (x)

      "HYM Share"
        means a fully paid ordinary share in HYM.

      

      

      (y)

      "Members HYM Shares" means such number of HYM Shares equal to the Members Paid Amount, with the issue price of each HYM Share being the greater of:

      

      

      (i)

      AUS$0.85; and

      

      

      (ii)

      Seventy five percent (75%) of the volume weighted average price of HYM Shares in the 10-day trading period
        on the applicable securities exchange (currently the Australian Securities Exchange (“ASX”)) immediately preceding the Closing Date; subject to a maximum issue price for each HYM Share of AUS $3.00.

      

      

      (z)

      “Master
          Services Agreement” means that Master Services Agreement between the Parties dated February 13, 2021.

      

      

      (aa)

      “Member”
        and “Members” have the meaning set forth in the introductory paragraph.

      

      

      (bb)

      “Membership
          Interest” and “Membership Interests” has the meaning set forth in Recital C.

      

      

      (cc)

      “Member
          Paid Amount” has the meaning set forth in Section 2(c).

      

      

      (dd)

      “Net Sales”
        means the cumulative gross revenues—net of taxes, duties, customs and similar fees—relating to or arising from Blacksand, or any of Blacksand’s assets or properties existing as of the Exercise Date, from the period beginning as of the Closing Date
        until the applicable measurement date.

      

      

      (ee)

      “Organizational
          Document” of any Person means the documents by which such Person (other than an individual) establishes its legal existence or which govern its internal affairs or the rights or obligations of the holders of the equity interests (including
        the Membership Interests) thereof (including any certificate of formation, certificate of incorporation or other incorporation or formation document, any charters or bylaws, constitution, memorandum and articles of association, other organizational
        documents, and any operating agreements, partnership agreements, shareholders’ agreement, investor rights agreement, voting agreement, co-sale agreement, registration rights agreement, drag-along agreement, right of first refusal agreement or other
        similar documents).

      

      

      (ff)

      “Option
          Notice” has the meaning set forth in Section 2(b).

      

      

      (gg)

      “Option
          Payment” has the meaning set forth in Section 5.

      

      

      (hh)

      “Option
          Period” means the period beginning on the Effective Date and terminating upon the earliest to occur of (i) the Closing Date, (ii) termination of the Master Services Agreement, (iii) December 31, 2022, or (iv) the termination of this
        Agreement.

      

      

      (ii)

      “Party”
        and “Parties” have the meaning set forth in the introductory paragraph.

      

      

      (jj)

      “Person”
        means an individual, corporation (including any non-profit corporation), general partnership, limited partnership, joint venture, association, limited liability company, trust, estate, unincorporated organization, Governmental Authority, or other
        entity, enterprise, association, organization, or group in any jurisdiction.

      

      

      (kk)

      “Pro Rata
          Share” has the meaning set forth on Exhibit A.

      

      

      (ll)

      “Property
          Agreements” has the meaning set forth in Section 8(e)(i).

      

      

      (mm)

      “Purchase
          Price” has the meaning set forth in Section 2(c)(i).

      

      

       

      

      (nn)

      “Purchase
          Option” has the meaning set forth in Section 2(a).

      

      

      (oo)

      “Receiving
          Party” has the meaning set forth in Section 11(a).

      

      

      (pp)

      "Restrained
          Business" the business of commercializing any granted U.S. patents licensed to Blacksand, or any other Intellectual Property Rights held by Blacksand, as of the Exercise Date; provided that, for the avoidance of doubt, such term shall not
        include any legal obligation of academic service of Zak to the University of Utah or any affiliate thereof.

      

      

      
        3

        
          

      

      

      

      (qq)

      “Restrained
          Customer” means any Person who is during the Restraint Period or was during the twelve (12) month period immediately preceding the Restraint Period, a customer of Blacksand or the Group (as applicable) and with whom, with respect to each
        Member, such Member had work or other business-related dealings in connection with Blacksand or the Group during the Restraint Period or the during the twelve (12) month period immediately preceding the Restraint Period.

      

      

      (rr)

      “Restrained
          Employee” means any individual who is during the Restraint Period an employee, independent contractor, officer, and/or agent of Blacksand or the Group (as applicable) and with whom, with respect to each Member, such Member had work or
        other business-related dealings in connection with Blacksand or the Group during the Restraint Period or the during the twelve (12) month period immediately preceding the Restraint Period. “Restrained Supplier” means any Person who is during the Restraint Period or was during the twelve (12) month period immediately preceding the Restraint Period, a supplier of Blacksand or the Group
        (as applicable) and with whom, with respect to each Member, such Member had work or other business-related dealings in connection with Blacksand or the Group during the Restraint Period or the during the twelve (12) month period immediately
        preceding the Restraint Period.  "Restraint Area" means the world.

      

      

      (ss)

      "Restraint
          Period" means, with respect to each Member, the period beginning on the Effective Date and ending on the third (3rd) anniversary of the Closing Date, provided the Restraint Period shall be tolled for a Member during any period
        in which the Member is in default of its obligations under Section 10 herein.

      

      

      (tt)

      "Shareholder
          Approval" means the approval of holders of HYM Shares for the issue of the Members HYM Shares to the Members.

      

      

      (uu)

      “Transfer”
        means the sale, assignment, transfer, lease, disposition or other Encumbrance of the Membership Interests.

      

      

      2.

      Purchase
            Option.

      

      

      (a)

      Grant of Purchase Option.  Subject to and upon the terms and conditions of this Agreement, each Member hereby grants to Hyperion the exclusive and continuing option (but not obligation) to purchase all of the Membership Interests,
        which Membership Interests shall constitute 100% of the ownership interests in Blacksand (the “Purchase Option”).  The Purchase Option shall be irrevocable for the duration of the Option Period, except as expressly provided for in this Agreement.  If Hyperion does not exercise
        its Purchase Option for any reason, it shall have no further obligation or liability whatsoever to Blacksand or the Members except as expressly provided for in this Agreement.

      

      

      (b)

      Exercise of Purchase Option.  Hyperion may exercise the Purchase Option at any time during the Option Period, provided that Hyperion is then current in its obligations under the Master Services Agreement.  In the event Hyperion,
        in its sole and absolute discretion, desires to exercise the Purchase Option, Hyperion shall exercise the Purchase Option by delivering written notice of such exercise (the “Option Notice”) to Blacksand and/or the Members in the manner provided in Section 14(f).  The date on which Hyperion issues the Option Notice shall be the “Exercise Date”.

      

      

      
        4

        
          

      

      

      

      (c)

      Purchase Price.  If Hyperion exercises the Purchase Option:

      

      

      (i)

      At the Closing, Hyperion shall:

      

      

      (1)

      Pay or contribute to Blacksand an amount reasonably determined by Blacksand to satisfy certain verified (by written
        supporting documentation) indebtedness and account payables of Blacksand, not to exceed $3,000,000 (the “Company Paid Amount”); and

      

      

      (2)

      Pay the Members their Pro Rata Share of (i) $12,000,000 (ii) plus the amount of any U.S. federal grant that Blacksand
        receives between the Effective Date and the Exercise Date, (iii) minus the Company Paid Amount (the “Member Paid Amount”), which shall be paid in
        the form of seventy percent (70%) cash, and, subject to HYM obtaining Shareholder Approval (which Hyperion shall use its reasonable best efforts to obtain) thirty percent (30%) HYM Shares.

      

      

      (ii)

      If Hyperion obtains Shareholder Approval to satisfy part of the Members Paid Amount through the issue of
        the Members HYM Shares, each Member agrees to be bound by the constitution of HYM, to the extent that such constitution applies to all owners of HYM Shares.

      

      

      (iii)

      At the Closing, Hyperion shall also commit to donate $1,000,000 towards the establishment of an endowed
        chair professorship at the University of Utah, which shall be used to support research and development related to Blacksand, Hyperion, other members of the Group, and other related technologies in the field of titanium, critical metals, and
        minerals. Establishment of the endowed chair professorship shall be subject to the approval/acceptance of the University of Utah, and the Members shall provide support and cooperation and lead the coordination of the endowed chair professorship and
        the relationship between Blacksand and the University of Utah in that regard. $300,000 of such amount shall be contributed or set aside by the first anniversary of the Effective Date, $300,000 of such amount shall be contributed or set aside by the
        second anniversary of the Effective Date, and $400,000 of such amount shall be contributed or set aside by the third anniversary of the Effective Date.  In the event the endowed chair professorship has not been approved/accepted by the University
        of Utah within five (5) years of Closing, the committed funds shall revert back to Hyperion.

      

      

      (iv)

      If, from and after the Closing Date, Net Sales exceed $300,000,000, then Hyperion shall pay the Members
        their Pro Rata Share of the Additional Amount on an annual basis, within thirty (30) days after the end of each applicable calendar year.

      

      

      3.

      Closing of
            Purchase Option.

      

      

      (a)

      Closing Generally.  If Hyperion exercises its Purchase Option, the closing of the purchase and sale of the Membership Interests as described in this Agreement (the “Closing”) shall be held on or before five (5) days after the satisfaction or waiver of the Conditions Precedent and the deliverables and actions required under Section 3(c) below (the “Closing Date”).  For purposes of clarity, the Closing Date may extend beyond the Option Period as long as the Option Notice was delivered during the
        Option Period.   Unless otherwise agreed, Closing shall take place by the exchange of signatures by facsimile, electronic mail or other electronic transmission or, if such electronic exchange is not practicable, at the offices of Johnston, Allison
        & Hord, P.A., 1065 E. Morehead Street, Charlotte, North Carolina, USA.

      

      

      
        5

        
          

      

      

      

      (b)

      Conditions
          Precedent.

      

      

      (i)

      Closing is conditional on the satisfaction or waiver of the following conditions precedent (“Conditions Precedent”):

      

      

      (1)

      no material adverse change in the business, results, operations, prospects, condition (financial or otherwise) or assets of
        Blacksand between the date of the Exercise Date and the Closing Date;

      

      

      (2)

      all necessary governmental and other third party approvals and consents are obtained, including without limitation an
        Estoppel and Consent from the UURF under the License Agreement;

      

      

      (3)

      all necessary shareholder approvals are obtained by Hyperion and, if Hyperion elects to satisfy all or part of the Members
        Paid Amount through the issuance of the Members HYM Shares, HYM;

      

      

      (4)

      no law, regulation, or order exists that renders it impossible or impracticable to commercially exploit titanium and
        titanium alloy powders;

      

      

      (5)

      no material liabilities of Blacksand exist other than liabilities under the Master Services Agreement or other liabilities
        entered into in the ordinary course of Blacksand’s operations;

      

      

      (6)

      Blacksand has the ongoing right to own, occupy, or have the option to purchase all of the Blacksand Real Property;

      

      

      (7)

      Blacksand is in compliance with its obligations under the Master Services Agreement; and

      

      

      (8)

      no material breach of warranty or other terms and provisions of this Agreement.

      

      

      (ii)

      The Conditions Precedent are for the benefit of Hyperion and can only be waived by Hyperion.

      

      

      
        6

        
          

      

      

      

      (c)

      Closing Deliverables and Actions.

      

      

      (i)

      On the Closing Date, Hyperion shall contribute the Company Paid Amount and pay to each Member its Pro Rata
        Share of the Member Paid Amount, in accordance with clause 2(c)(i);

      

      

      (ii)

      On or before the Closing Date, Blacksand must hold a meeting of the Members pursuant to Blacksand’s
        Organizational Documents and applicable law to approve, and provide Hyperion reasonably satisfactory written resolutions and/or duly executed minutes of each such meeting relating to, the following matters:

      

      

      (1)

      transfer of the Blacksand Membership Interests to Hyperion and the documenting of Hyperion as the sole legal and beneficial
        owner of the Blacksand Membership Interests to the extent legally permissible and otherwise in such form as approved by Hyperion;

      

      

      (2)

      issuance of written confirmation of Hyperion as the sole owner of the Blacksand Membership Interests;

      

      

      (3)

      resignation of all managers and officers of Blacksand and appointment of Hyperion’s nominees as managers and officers of
        Blacksand (in the manner specified by Hyperion in writing prior to Closing);

      

      

      (4)

      revocation of each existing authority to operate any bank account of Blacksand and approval of such new authority as may be
        requested by Hyperion before Closing;

      

      

      (5)

      revocation of any existing powers of attorney granted by Blacksand; and

      

      

      (6)

      any other reasonable business of which Hyperion has given notice to Blacksand prior to Closing.

      

      

      

      

      (iii)

      Blacksand and the Members must deliver to Hyperion:

      

      

      (1)

      completed transfers of the Blacksand Membership Interests in favor of Hyperion as transferee duly executed by each Member as
        transferor, to the extent legally permissible and otherwise in such form as approved by Hyperion;

      

      

      (2)

      all registers, resolutions, minute books and other record books and financial records of Blacksand, including asset
        registers, management accounts, budgets, ledgers, journals, books of account and other records of Blacksand, and the common seal, if any, of Blacksand;

      

      

      
        7

        
          

      

      

      

      (3)

      possession of all title documents relating to the Blacksand Real Property and other documents held by Blacksand in
        connection with the Blacksand Real Property; and

      

      

      (4)

      if requested by Hyperion, executed escrow agreements (in the form provided by Hyperion) to give effect to any ASX-imposed
        escrow in relation to the Members HYM Shares.

      

      

      4.

      Access and
            Rights of Hyperion. Hyperion shall have the following rights.

      

      

      (a)

      Access to Blacksand Real Property.  From the Effective Date to the Closing Date, in each case subject to the conditions in the applicable Property Agreement, reasonable confidentiality (including as set forth in the MSA) and
        intellectual property-related limitations as Blacksand may reasonably request (the “Limitations”), Blacksand shall grant Hyperion and its
        representatives, as Blacksand’s agent, reasonable access, with advance notice and during reasonable business hours, to the Blacksand Real Property for purposes of inspecting and reviewing material analyses, intellectual property, reports, service
        contracts, purchase orders, customer lists, and periodic financial reports in Blacksand’s possession relating to Blacksand’s business, products or services (the “Materials”).

      

      

      (b)

      Access to Blacksand Materials. From the Effective Date to the Closing Date, subject to Blacksand’s confidentiality obligations to third parties and the Limitations, Blacksand shall provide Hyperion, and its representatives,
        copies of the Materials.

      

      

      5.

      Purchase
            Option Consideration.

      

      

      Upon the Effective Date, as consideration for the Purchase Option, Hyperion shall pay Blacksand $250,000, in cash
        or other immediately available funds to an account designated by Blacksand (“Option Payment”).

      

      

      It is acknowledged and agreed that, as the Members own all of the Membership Interests, such Option Payment paid by
        Hyperion to Blacksand shall provide substantial economic and other benefits to the Members, and therefore such Option Payment shall be deemed adequate consideration for the Members’ grant of the Purchase Option to Hyperion.

      

      

      6.

      Obligations
            of Blacksand and the Members.  During the Option Period, without the prior written consent of Hyperion where relevant, which shall not be unreasonably withheld, delayed or conditioned:

      

      

      (a)

      Blacksand and the Members shall provide Hyperion with copies of all Organizational Documents and any
        amendments and restatements to or of the Organizational Documents.

      

      

      (b)

      Neither Blacksand nor any Member shall, or shall attempt, agree or purport to: (i) create, authorize,
        designate, reclassify, modify, or issue any class or series of new Membership Interests or any rights, options, warrants, or other securities convertible into or exchangeable for any Membership Interests, to any Person or (ii) voluntarily or
        involuntarily Transfer all or any of the Membership Interests.

      

      

      
        8

        
          

      

      

      

      (c)

      Each of Blacksand and the Members shall use commercially reasonable efforts not to allow any Encumbrance
        upon the Membership Interests or upon the properties or assets of Blacksand.

      

      

      (d)

      Blacksand shall be and remain, and the Members shall cause Blacksand to be and remain, in good standing
        and duly qualified to do business under the laws of the State of Utah, and any other jurisdiction where the nature of the property owned or leased by it or the nature of the business conducted by it makes such qualification necessary.

      

      

      (e)

      Blacksand shall use commercially reasonable efforts to comply, and the Members shall use commercially
        reasonable efforts to cause Blacksand to comply, in all material respects with all applicable laws and permits issued by Governmental Authorities.

      

      

      (f)

      Blacksand shall use commercially reasonable efforts to comply, and the Members shall cause Blacksand to
        use commercially reasonable efforts to comply, in all material respects with all Property Agreements, as they may be amended, modified, or supplemented from time to time (provided that no such amendment may be made without the consent of Hyperion).

      

      

      (g)

      Blacksand and the Members  shall promptly notify Hyperion: (i) of any fact, circumstances, event or action
        the existence, occurrence, or taking of which has had, or could reasonably be expected to expected to have, individually or in the aggregate, a material adverse effect on Blacksand or Blacksand’s business, and (ii) of any material change in zoning
        or environmental regulations affecting the Blacksand Real Property to the extent such change may reasonably interfere with Blacksand’s business.

      

      

      (h)

      The Members shall, and shall cause Blacksand to: (i) conduct Blacksand’s business in the ordinary course
        of business consistent with past practice and (ii) use commercially reasonable efforts to maintain and preserve intact the current organization and business of Blacksand and to preserve the rights, goodwill, and relationships of its employees,
        customers, lenders, suppliers, regulators, and others having business relationships with Blacksand.

      

      

      (i)

      Blacksand shall file all applicable tax returns as and when due and shall pay all local, state, and
        federal taxes owed by it.

      

      

      (j)

      Blacksand shall not:

      

      

      (i)

      alter or agree to alter its Organizational Documents;

      

      

      (ii)

      distribute any material assets outside of the ordinary course of its business or distribute any cash other
        than (a) distributions to allow Members to pay tax consequences of ownership in Blacksand, and (b) distributions that do not impair Blacksand’s ability to continue its operations in the ordinary course;

      

      

      (iii)

      cause to occur, by act or omission, an event or series of events, whether related or not, which would have
        a material adverse effect on the business, assets or financial condition of Blacksand or on the transactions contemplated by this Agreement; or

       

      

       

      

      

      

      
        (iv)

        sell, assign or dispose of any legal or beneficial interest in Blacksand’s assets other than in the
          ordinary course of business consistent with past practice.

        

        

      

      
        9

        
          

      

      

      

      (k)

      Blacksand covenants that it will and the Members agree to ensure that Blacksand will:

      

      

      (i)

      During the Option Period, use commercially reasonable efforts to observe and perform all material
        stipulations and conditions relating to the Property Agreements (including, without limitation, expenditure conditions prescribed under any applicable laws or regulations), all statutory obligations relating to activities on the Covered Property
        and all agreements related to Blacksand’s Intellectual Property Rights, including without limitation the License Agreement;

      

      

      (ii)

      During the Exercise Period, work with Hyperion to obtain all necessary governmental approvals and consents
        required for transfer of the Membership Interests;

      

      

      (iii)

      Not relinquish any portion of any of the Property Agreements except with the agreement of Hyperion, such
        agreement not to be unreasonably withheld;

      

      

      (iv)

      During the Option Period, use commercially reasonable efforts to promptly pass to Hyperion any notice or
        communication from any third party or government authority in any way affecting the Property Agreements, the Covered Property or the License Agreement; and

      

      

      (v)

      Maintain in good standing and free from Encumbrance, all of Blacksand’s Intellectual Property Rights.

      

      

      (l)

      Blacksand shall not grant licenses or sublicenses for any technology or other property owned or licensed
        by Blacksand, including, without limitation, any Intellectual Property Rights.

      

      

      (m)

      Blacksand shall use good faith efforts to pursue an amendment to the License Agreement with UURF as deemed
        reasonably necessary by Hyperion to insure that all of Blacksand’s Intellectual Property Rights as shown and designated as “U-No.” on Exhibit C hereto are covered and properly referenced in the License Agreement.  Otherwise, Blacksand shall not
        amend, alter, expand or terminate the License Agreement.

      

      

      (n)

      Blacksand shall use good faith efforts to pursue execution and recording by the original inventors and/or
        the University of Utah, as the case may be, of any assignment deemed reasonably necessary by Hyperion to confirm that Blacksand’s Intellectual Property Rights as shown and designated as “U-No.” on Exhibit C hereto are currently owned by UURF,
        including assignments of provisional patent applications, formal patent applications, issued patents, divisionals, continuations, continuations in part and foreign applications.

      

      

      (o)

      Blacksand shall use good faith efforts to license the intellectual property known as “Production of
        Titanium Dioxide Pigment” and having University of Utah and UURF reference number U-4606, pursuant to a license agreement to be approved by Hyperion.

      
        10

        
          

      

      

      

      7.

      Representations
            of the Members.  Each Member hereby represents and warrants to Hyperion solely as to such Member and not with respect to any other Member (on the Effective Date and each day until Closing or the termination of this Agreement), as
        follows:

      

      

      (a)

      Member Authority.  Such Member has the capacity to execute, deliver and perform or consummate the transactions contemplated by this Agreement. This Agreement has been duly and validly executed and delivered by such Member and
        constitutes the valid and binding obligation of such Member, enforceable against such Member in accordance with their respective terms, except as such enforcement shall be limited by bankruptcy, insolvency, moratorium or similar law affecting
        creditors’ rights generally and subject to general principles of equity.

      

      

      (b)

      No Member Conflicts.  The execution, delivery and performance by such Member of this Agreement, and the consummation by such Member of the transactions contemplated hereby does not and will not violate any provision of any law to
        which such Member is subject.  The execution, delivery and performance by such Member of this Agreement, and the consummation by such Member of the transactions contemplated hereby does not and will not, with or without the giving of notice or the
        lapse of time, or both, (i) violate or result in a breach of or constitute a default under, conflict with, require the consent of (or notice to) any third party under any contract or permit issued by a Governmental Authority, or (ii) result in the
        creation or imposition of any Encumbrance of any nature whatsoever upon any of any portion of the Membership Interest held by such Member.  No notices to, filings with, or authorizations, consents or approvals of any Governmental Authority or any
        other Person are necessary for the execution, delivery or performance by such Member of this Agreement or the consummation by such Member of the transactions contemplated hereby.

      

      

      (c)

      Title to Membership Interests.  Such Member is the record and beneficial owner of the Membership Interest set forth opposite such Member’s name on Exhibit
            A, and has good and valid title to his or its Membership Interest, as applicable, free and clear of all Encumbrances and other any restrictions imposed by applicable United States securities laws.

      

      

      (d)

      Intellectual Property Rights.  Such Member does not own, license or otherwise control patents, patent applications or other intellectual property related to Blacksand’s Intellectual Property Rights.

      

      

      8.

      Representations
            of Blacksand.  Blacksand hereby represents and warrants to Hyperion (on the Effective Date, and each day until the Closing Date, as follows:

      

      

      (a)

      Organization. Blacksand is a limited liability company, duly formed, validly existing and in good standing under the laws of the State of Utah.  Blacksand has all requisite power and authority to own, lease and operate its
        properties and carry on its business as it is now being conducted.  Blacksand is duly qualified to do business and is in good standing in all other jurisdictions where the nature of the property owned or leased by it or the nature of the business
        conducted by it makes such qualification necessary.

      

      

      
        11

        
          

      

       

      (b)

      Company Authority.  Blacksand has all requisite power and authority to execute, deliver and perform this Agreement and to perform its obligations hereunder and to consummate the transactions contemplated hereby.  The execution,
        delivery and performance by Blacksand of this Agreement, and the consummation by Blacksand of the transactions contemplated hereby have been duly authorized by all necessary action on the part of Blacksand.  No other limited liability company
        proceedings on the part of Blacksand are necessary to authorize such execution, delivery or performance or to consummate the transactions contemplated by this Agreement.  This Agreement has been duly and validly executed and delivered by Blacksand
        and constitutes the valid and binding obligation of Blacksand, enforceable against Blacksand in accordance with its terms, except as such enforcement shall be limited by bankruptcy, insolvency, moratorium or similar law affecting creditors’ rights
        generally and subject to general principles of equity.

      

      

      (c)

      No Company Conflicts.  The execution, delivery and performance by Blacksand of this Agreement and the consummation by Blacksand of the transactions contemplated hereby does not and will not (i) violate any provision of any law to
        which Blacksand is subject, or (ii) violate or breach any provision of any Organizational Document of Blacksand.  The execution, delivery and performance by Blacksand of this Agreement, and the consummation by Blacksand of the transactions
        contemplated hereby does not and will not, with or without the giving of notice or the lapse of time, or both, (x) violate or result in a breach of or constitute a default under, conflict with, require the consent of (or notice to) any third party
        under, or result in or permit the termination, cancellation, modification, or amendment of any provision of, or result in or permit the acceleration of the maturity or cancellation of performance of any obligation under any contract (including any
        Property Agreement) or any permit issued by a Governmental Authority to which Blacksand is a party or by which Blacksand may be bound or affected, or (y) result in the creation or imposition of any Encumbrance of any nature whatsoever upon any of
        the assets or properties of Blacksand or give to others any interests or rights therein.  No notices to, filings with, or authorizations, consents or approvals of any Governmental Authority or any other Person are necessary for the execution,
        delivery or performance by Blacksand of this Agreement or the consummation by Blacksand of the transactions contemplated hereby.

      

      

      (d)

      Capitalization.  All of the issued and outstanding Membership Interests have been duly authorized and validly issued, fully paid and non-assessable, and none of the issued and outstanding Membership Interests are subject to or
        were issued in violation of any applicable securities laws, purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of applicable law, the Organizational Documents of
        Blacksand or any contract to which Blacksand is a party.  All of the issued and outstanding membership interests of Blacksand are held of record and beneficially owned by the Members as set forth on Exhibit A, in each case in the class and amounts so indicated thereon. There are no obligations or commitments for Blacksand to issue any additional membership interests or equity interests beyond those
        already issued and outstanding. There are no outstanding or authorized options, warrants, purchase rights, subscription rights, conversion rights, convertible securities, exchange rights, calls, puts, preemptive rights, rights of first refusal,
        tag-along right, drag-along rights or other contracts, rights, agreements, arrangements or commitments of any character that would require Blacksand to issue, sell, purchase or otherwise cause to become outstanding, or cause to be repurchased or
        redeemed, any Membership Interests or any other membership or equity interest in Blacksand.  There are no voting trusts, equityholder agreements, shareholders agreements, proxies or other agreements or understandings in effect with respect to the
        voting or Transfer of any Membership Interests.

      

      

      
        12

        
          

      

       

      (e)

      Real Property.

      

      

      (i)

      Exhibit B sets
        forth a true, correct and complete list of all property owned by Blacksand and all written or oral leases, subleases, licenses, option agreements, rights to purchase, rights of first refusal, or other occupancies of the Blacksand Real Property
        (including all amendments, extensions, renewals and guaranties with respect thereto) (collectively, the “Property Agreements”) to which Blacksand
        is a party (as lessor, lessee, sublessee, licensee, option holder, or otherwise).  Blacksand has delivered or made available to Hyperion a true, correct and complete copy of each of the Property Agreements and all amendments, modifications and
        supplemental agreements thereto.  Each of the Property Agreements is in full force and effect and is valid, binding and enforceable against the Blacksand and each of the other parties thereto, in accordance with its terms and has not been modified
        or amended except as disclosed on Exhibit B.

      

      

      (ii)

      (1) Blacksand has not received from the other party to any Property Agreement any notice claiming that
        Blacksand is in default thereunder for which such default has not been cured; (2) all payments required to be paid by Blacksand pursuant to the Property Agreements have been paid prior to such payments becoming delinquent; (3) there has not
        occurred any event which would constitute a breach of or default in the performance of any covenant, agreement or condition contained in any Property Agreement which has not been cured, nor has there occurred any uncured event which with the
        passage of time or the giving of notice or both would constitute such a breach or default;  and (4) Blacksand has not received any written notice from the other party to any Property Agreement of the termination or proposed termination thereof.

      

      

      (iii)

      Blacksand presently enjoys peaceful and undisturbed possession of the Blacksand Real Property.  There are
        no matters affecting the right, title and interest of Blacksand in and to the Blacksand Real Property which, in the aggregate, would adversely affect the ability to carry on the Business upon the Blacksand Real Property substantially in the manner
        in which such operations are currently carried on.  No Person other than Blacksand has any right to use or occupy the Blacksand Real Property.

      

      

      (iv)

      The current use of the Blacksand Real Property in the conduct of Blacksand’s business does not violate any
        Property Agreement in any respect.  Blacksand is not in violation of any covenant, condition, restriction, easement or order of any Governmental Authority having jurisdiction over the Blacksand Real Property or the use or occupancy thereof. 
        Blacksand has not received written notice from any Governmental Authority, with respect to the Blacksand Real Property, of any violation or claimed violation by Blacksand of applicable building, zoning, subdivision, conservation, fire, health and
        safety and other land use and similar applicable laws, rules and regulations, permits, licenses, and certificates of occupancy.

      

      

      (v)

      None of the transactions contemplated by this Agreement constitutes an assignment of Blacksand’s rights
        under any Property Agreement, and such transactions do not require the consent of any Person under any Property Agreement.

      

      

      (vi)

      Each use of the Blacksand Real Property by Blacksand is and has been valid, permitted and conforming uses
        in accordance with the current zoning classification of the Blacksand Real Property, and there are no outstanding variances or special use permits affecting the Blacksand Real Property or their uses.  The operation of the Business on the Blacksand
        Real Property complies with all applicable laws, all applicable permits issued by Governmental Authorities, and all Property Agreements.

      
        13

        
          

      

      

      

       

      (f)

      Intellectual Property:

      

      

      (i)

      Exhibit C sets
        forth a true, correct and complete list, reference or link to all the intellectual property and software legally and beneficially owned or licensed by Blacksand, including all registered or unregistered business names, trade or service marks,
        patents, and patent applications, other than off-the-shelf and shrink-wrap or click-wrap software requiring payments of less than $2,500 per year (“Intellectual
          Property Rights”).

      

      

      (ii)

      Blacksand owns or is legally entitled to use all the assets, systems, hardware and software required to
        operate the information technology functions of Blacksand.

      

      

      (iii)

      Blacksand does not require the use of any Intellectual Property Rights other than those specified in
        Exhibit C in the course of conducting its business.

      

      

      (iv)

      The information technology systems, including hardware and software, utilized by Blacksand in the
        operations of its business as of the Effective Date are sufficient for the conduct of the business Blacksand as currently conducted.

      

      

      (v)

      Neither Blacksand nor any of its Affiliates are in material breach of a material term of any agreement or
        license relating to the Intellectual Property Rights to which it is a party (whether as licensor or licensee) and so far as Blacksand is aware no third party is in breach of any such agreement.

      

      

      (vi)

      To Blacksand’s knowledge, neither Blacksand nor any of its Affiliates have infringed any Intellectual
        Property Rights of any third party or is aware of any circumstances which is likely to give rise to any infringement.

      

      

      (vii)

      Blacksand is not aware of any unauthorized use by any person of any Intellectual Property Rights or
        confidential information of Blacksand or any of its Affiliates.

      

      

      (viii)

      There is not currently any unresolved challenge, dispute or claim which has been made or threatened by any
        person with respect to any of the Intellectual Property Rights used in connection with Blacksand's business.

      

      

      (g)

      Compliance with Laws; Permits.  Blacksand has been, during the three (3) year period prior to the Effective Date, and is currently in compliance in all material respects with all applicable laws and permits issued by Governmental
        Authorities.

      

      

      (h)

      Legal Proceedings.  There are no actions pending or threatened against or by Blacksand: (a) relating to or affecting Blacksand’s business or the Membership Interests; or (b) that challenge or seek to prevent, enjoin or otherwise
        delay the transactions contemplated by this Agreement.  No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such action.  There are no outstanding orders of Governmental Authorities and no unsatisfied
        judgments, penalties or awards against, relating to or affecting Blacksand’s business.

      

      

      
        14

        
          

      

      

      

       

      (i)

      Taxes.

      

      

      (i)

      From and after Blacksand’s date of formation (September 3, 2013), Blacksand has been taxed as a
        partnership or as a disregarded entity.

      

      

      (ii)

      All tax returns required to be filed by Blacksand for any period prior to the Effective Date have been, or
        will be, timely filed.  Such tax returns are, or will be, true, complete, and correct in all respects. All taxes due and owing by Blacksand (whether or not shown on any tax return) have been, or will be, timely paid.

      

      

      (iii)

      Blacksand has withheld and paid each tax required to have been withheld and paid in connection with
        amounts paid or owing to any of its employees, independent contractors, creditors, customers, shareholders or other persons, and has complied with all information reporting and backup withholding provisions of applicable law.

      

      

      (iv)

      No extensions or waivers of statutes of limitations have been given or requested with respect to any taxes
        of Blacksand.

      

      

      (v)

      All deficiencies asserted, or assessments made, against Blacksand as a result of any examinations by any
        taxing authority have been fully paid.

      

      

      (vi)

      Blacksand is not a party to any action by any taxing authority.  There are no pending or threatened
        actions by any taxing authority.

      

      

      (vii)

      There are no Encumbrances for taxes upon any of the Membership Interests nor is any taxing authority in
        the process of imposing any Encumbrances for taxes on any of the Membership Interests (other than for current taxes not yet due and payable).

      

      

      (j)

      Subsidiaries:  Blacksand does not have any subsidiaries.

      

      

      (k)

      No other operations or assets: Other than the business described in the Recitals above, Blacksand does not have any operations, assets or agreements.

      

      

      (l)

      Employees and contractors: Other than as disclosed to Hyperion, Blacksand does not have any employees and contractors.

      

      

      (m)

      Liabilities: Other than as disclosed to the Hyperion, Blacksand does not have any liabilities, other than the Company Paid Amounts, obligations to UURF, and other payables and similar obligations incurred in the ordinary course of
        Blacksand’s business.

      

      

      (n)

      Consistency with other agreements: The terms of this Agreement are not inconsistent with and do not contravene the provisions of any other agreements or contract to which Blacksand is a party.

      

      

      
        15

        
          

      

      

      

      9.

      Employee/Advisor/Consultant Retention.

      

      

      During the period commencing from the Effective Date to the Closing Date, Blacksand and the Members will:

      

      

      (i)

      use commercially reasonable efforts to maintain the services of all of the officers, employees and
        consultants of Blacksand;

      

      

      (ii)

      without the prior written consent of Hyperion, not terminate, vary or amend any agreements with or
        encourage the resignation of any of the officers, employees and consultants of Blacksand; and

      

      

      (iii)

      work in good faith with Hyperion to conduct a review to determine key officers and employees of Blacksand
        who will be offered continued employment and the terms and conditions of such employment, including without limitation any covenants similar to the covenants set forth in Section 10 below.

      

      

      In addition, by execution of this Agreement, Zak agrees to remain as an advisor and consultant to Hyperion for at
        least twenty-four (24) months following Closing, obligated to continue providing the level of service, assistance and support currently being provided to Blacksand/Hyperion for compensation in the amount as set forth in any then current Consulting
        Agreement between Zak and Hyperion, subject to the terms and conditions of any such then current Consulting Agreement.

      

      

      10.

      Non-Compete Covenants.

      

      

      (a)

      Each Member agrees that he will not, either d irectly or by, with, or through any other Person, do any of
        the following:

      

      

      (i)

      during the Restraint Period and within the Restraint Area, carry on, promote, participate in, operate,
        engage in or be involved in any way (whether as an employee, agent, director, consultant, partner, promoter, owner, investor, lender, financier, guarantor, co-obligor, or however otherwise) in any Restrained Business;

      

      

      (ii)

      to the extent not covered in the immediately preceding clause, during the Restraint Period and within the
        Restraint Area, act as an adviser, independent contractor, consultant, director, manager, agent, employee or in any other capacity whatsoever in or to any Restrained Business;

      

      

      (iii)

      during the Restraint Period, solicit, provide and/or accept business that is or is similar to the
        Restrained Business or goods or services of a similar type to those provided by Blacksand or the Group to any Restrained Customer;

      

      

      (iv)

      during the Restraint Period, solicit, any Restrained Supplier, to cease to supply, or to restrict or vary
        the terms of supply to, Blacksand or the Group (as applicable), attempt to do any of the foregoing with respect to any such Restrained Supplier, or otherwise interfere with any relationship between Blacksand or the Group (as applicable) and any
        such Restrained Supplier;

      

      

      
        16

        
          

      

      

      

      (v)

      during the Restraint Period, solicit, lure, entice, call, and/or induce any Restrained Customer, to cease
        purchasing goods and/or services from, or the restrict or vary the terms of the purchase of goods and/or services from, Blacksand or the Group, attempt to do any of the foregoing with respect to any such Restrained Customer, or otherwise interfere
        with any relationship between Blacksand or the Group (as applicable) and any such Restrained Customer;

      

      

      (vi)

      during the Restraint Period, solicit, lure, entice, call, and/or induce any Restrained Employee to leave
        the employment of, cease providing services to, reduce or lessen the provision of services to, or otherwise vary the terms of such Restrained Employee’s provision of services to, Blacksand or the Group (as applicable), or otherwise interfere with
        the relationship between Blacksand or the Group (as applicable) and any such Restrained Employee;

      

      

      (vii)

      reveal, report, publish, disclose or transfer any Confidential Information of Blacksand or the Group to
        any Person (other than Blacksand and/or the Group), use any such Confidential Information for any purpose, or use any such Confidential Information for the benefit of any Person (other than Blacksand and/or the Group); or

      

      

      (viii)

      procure any other Person to do or assist any other Person in doing any of the things referred to in
        clauses 10(a)(i) to 10(a)(vii) inclusive.

      

      

      (b)

      Prior written consent: The covenants in this clause 10 do not apply in circumstances where the Member has obtained the prior
        written consent of Blacksand and Hyperion.

      

      

      (c)

      Acknowledgment: The Members agree and acknowledge that:

      

      

      (i)

      the Members will obtain Confidential Information during the Employment, the disclosure of which could
        materially harm the Group;

      

      

      (ii)

      the covenants in clause 10(a) are fair and reasonable and necessary for the protection of the Confidential
        Information and the Group's goodwill and legitimate business interests, particularly in relation to the Group's core business activities;

      

      

      (iii)

      the remuneration and other benefits provided to the Members by virtue of the Option Payment and the
        Company Paid Amount constitute adequate consideration for the Members' agreement to be bound by the covenants under this clause 10;

      

      

      (iv)

      their willingness to be bound by the covenants in clause 10(a) was and is a material inducement to
        Hyperion’s willingness to enter into this Agreement and potentially exercise the Purchase Option, and Hyperion would not have entered into this Agreement and would not be willing to exercise the Purchase Option but for the Members’ willing to be
        bound by the covenants in clause 10;

      

      

      
        17

        
          

      

      

      

      (v)

      the covenants in clause 10(a) do not unreasonably restrict the Members' right to practice in their
        profession or calling;

      

      

      (vi)

      damages may be inadequate to protect the Group's interests and the Group is entitled to seek and obtain
        injunctive relief, or any other remedy, in any court for any breach or threatened breach of the Members' obligations under this clause 10, without the need to post bond or any other form of security therefor;

      

      

      (vii)

      each covenant contained in clause 10(a) (resulting from any combination of the wording in clause 10(a) and
        the definitions of Restraint Period and Restraint Area) constitutes a separate and independent covenant, severable from the other covenants therein; and

      

      

      (viii)

      if any covenants are determined to be unenforceable in whole or in part, the enforceability of the remaind
        er of that restraint and any other restraint will not be affected.

      

      

      (d)

      Continuing Obligations: For the avoidance of doubt, the Members' obligations under this clause 10 survive termination of any Employment Agreement.

      

      

      11.

      Other
            Agreements.

      

      

      (a)

      Confidentiality.  From time to time during the term of this Agreement, a Party (as the “Disclosing Party”) may disclose or make
        available to another Party (as the “Receiving Party”) information about its business affairs, products, services, confidential intellectual
        property, trade secrets, third-party confidential information and other sensitive or proprietary information (collectively, “Confidential Information”). 
        Confidential Information shall not include information that, at the time of disclosure: (i) is or becomes generally available to and known by the public other than as a result of, directly or by, with, or through any other Person, any breach by the
        Receiving Party or any of its representatives; (ii) is or becomes available to the Receiving Party on a non-confidential basis from a third-party source, provided that such third party is not and was not prohibited from disclosing such Confidential
        Information; (iii) was known by or in the possession of the Receiving Party or its representatives before being disclosed by or on behalf of the Disclosing Party; or (iv) was or is independently developed by the Receiving Party without reference to
        or use, in whole or in part, of any of the Disclosing Party’s Confidential Information.  The Receiving Party shall: (A) protect and safeguard the confidentiality of the Disclosing Party’s Confidential Information with at least the same degree of
        care as the Receiving Party would protect its own Confidential Information, but in no event with less than a commercially reasonable degree of care; (B) not use the Disclosing Party’s Confidential Information, or permit it to be accessed or used,
        for any purpose other than to exercise its rights or perform its obligations under this Agreement; and (C) not disclose any such Confidential Information to any person or entity, except to the Receiving Party’s representatives who need to know the
        Confidential Information to assist the Receiving Party, or act on its behalf, to exercise its rights or perform its obligations under the Agreement.  The Receiving Party shall be responsible for any breach of this Section 11(a) caused by any of its
        representatives.  In the event the Disclosing Party’s Confidential Information is required to be disclosed under applicable federal, state or local law, regulation or a valid order issued by a court or Governmental Authority of competent
        jurisdiction, the Receiving Party shall promptly notify the Disclosing Party of such requirement and reasonably assist the Disclosing Party (at the Disclosing Party’s expense) to enable it to obtain a protective order or otherwise take appropriate
        measures to prevent the disclosure of its Confidential Information.  In the event the Disclosing Party is unable to prevent the disclosure of such Confidential Information, the Receiving Party shall disclose only that portion of such Confidential
        Information that the Receiving Party is legally required to disclose.  On the expiration or termination of the Agreement, at the Disclosing Party’s written request, the Receiving Party shall promptly return, and shall require its representatives to
        return to the Disclosing Party all copies, whether in written, electronic or other form or media, of the Disclosing Party’s Confidential Information, or destroy all such copies and certify in writing to the Disclosing Party that such Confidential
        Information has been destroyed. Notwithstanding this clause, (a) Hyperion may use any Confidential Information they require for the purposes of raising capital or pursuing an Exchange listing, and (b) Zak may use and disclose certain Confidential
        Information as required by, or consistent with, Zak’s academic obligations to the University of Utah and its affiliates.

       

      

       

      

       

      

       

      

       

      

      

      

      
        18

        
          

      

      

      

      (b)

      Exclusivity.  During the Option Period, the Parties agree that Hyperion is and shall be the exclusive holder of the Purchase Option.  In light of the foregoing, during the Option Period, Blacksand and/or the Members shall not,
        directly or by, with, or through any other Person, in any capacity whatsoever: (i) solicit, initiate, entertain, encourage, accept any inquiries, proposals, or offers from any Person other than Hyperion for the acquisition of the Membership
        Interests or to engage in transactions similar to the transactions contemplated hereby; (ii) grant any Person other than Hyperion any right or option to purchase the Membership Interests, all or substantially all of the assets of Blacksand, or
        otherwise to acquire or succeed to the Business;  (iii) grant any Person other than Hyperion the right to access the Covered Property for purposes exploring, evaluating, mining, or removing Mineral Products; (iv) provide any Person other than
        Hyperion with access to any  reports, surveys, historical exploration results, and data relating to the Covered Property, Mineral Products that may be located on or under the Covered Property, and other geological attributes of the Covered
        Property, or relating to the Business; or (v) otherwise circumvent, avoid, bypass, or obviate the intent of this Agreement and the observance and performance of all the terms and provisions hereof.  The Parties agree that this Section shall be
        strictly construed and the violation of this Section 11(b) shall be an incurable material breach of this Agreement.

      

      

      (c)

      Further Assurances.  If Hyperion exercises the Purchase Option, following the Closing, the Parties shall, and shall cause their respective representatives to, execute and deliver such additional documents, instruments,
        conveyances, and assurances and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement.

      

      

      12.

      Indemnification.

      

      

      Indemnification by
          Blacksand and Members.  Blacksand (during the term of this Agreement) and the Members (during and thereafter), jointly and severally,
        shall indemnify, defend, and hold harmless Hyperion, and its officers, directors, employees, agents, representatives, affiliates, successors, and permitted assigns, from and against any and all losses, damages, liabilities, costs, or expenses
        arising out of or resulting from any breach by Blacksand or any Member of any representation, warranty, or covenant set forth in this Agreement.

      

      

      Indemnification by
          Hyperion.  Hyperion shall indemnify, defend, and hold harmless Blacksand, the Members, and Blacksand’s officers, managers, employees,
        agents, representatives, affiliates, successors, and permitted assigns, from and against any and all losses, damages, liabilities, costs, or expenses arising out of or resulting from any breach by Hyperion of any representation, warranty, or
        covenant set forth in this Agreement.

      

      

      13.

      Termination.

      

      

      (a)

      Events of Termination.

      

      

      (i)

      This Agreement may be terminated at any time by the mutual agreement of all Parties.

      

      

      (ii)

      This Agreement shall terminate upon the expiration of the Option Period (unless the Option Notice has been
        given).

      

      

      (iii)

      This Agreement may be terminated by Hyperion at any time and for any reason (or for no reason), upon sixty
        (60) days’ notice to Blacksand.

      

      

      (iv)

      This Agreement may be terminated by Hyperion if there has been a breach, inaccuracy in, or failure to perform any representation, warranty, covenant or agreement made by Blacksand or any
          Member pursuant to this Agreement, and such breach, inaccuracy, or failure has not been cured by Blacksand or the Members (as applicable) within thirty (30) days
          of receipt of written notice of such breach from Hyperion.  Notwithstanding the foregoing, there shall be no cure period for a breach of Section 11(a) (Confidentiality) or Section 11(b) (Exclusivity).

      

      

      (v)

      This Agreement may be terminated by Blacksand if there has been a breach, inaccuracy in, or failure to perform any representation, warranty, covenant or agreement made by Hyperion pursuant
          to this Agreement, and such breach, inaccuracy, or failure has not been cured by Hyperion within thirty (30) days of receipt of written notice of such breach
          from Blacksand.

      

      

      
        19

        
          

      

      

      

      
        (b)

        Effects of Termination.

        

        

      

      (i)

      Following the termination of this Agreement, the Parties shall have no further rights, obligations, duties
        under this Agreement, except pursuant to Section 11(a) (Confidentiality), Section 12 (Indemnification), Section 13(b) (Effects of Termination), and Section 14 (Miscellaneous), all of which shall survive the termination of this Agreement.  The
        Parties’ indemnification obligations under Section 12, and the representations and warranties set forth herein, shall survive for a period of one (1) year following the termination of this Agreement.

      

      

      (ii)

      Upon termination of this Agreement, Hyperion shall have no further obligations to make the Option Payment
        under Section 5.

      

      

      (iii)

      Following the termination of this Agreement, Hyperion shall have thirty (30) days from the date of
        termination to remove all of its representatives, vehicles, and other property from the Covered Property.

      

      

      (iv)

      If this Agreement is terminated due to the uncured breach of one Party, the non-breaching party shall
        retain all of its rights and remedies at law and in equity.

      

      

      14.

      Miscellaneous.

      

      

      (a)

      Entire Agreement.  This Agreement (including the Exhibits attached hereto) constitutes the entire understanding and agreement of the Parties with respect to the transactions contemplated by this Agreement and supersedes any other
        agreements, whether written or oral, that may have been made or entered into by or among any of the Parties or any of its respective Affiliates relating to the transactions contemplated hereby or thereby or the subject matter hereof or thereof.

      

      

      (b)

      Successors and Assigns.  The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and permitted assigns of the Parties hereto; provided, however, that this Agreement
        may not be assigned by any Party hereto without the prior written consent of the other parties hereto, except that Hyperion and HYM may without the consent of any other Party (A) assign this Agreement (in whole or in part) and their rights and
        obligations hereunder to (i) one or more Affiliates of Hyperion, or (ii) to an acquirer to all or a substantial portion of the capital stock (or other equity interests) or all or a substantial portion of the assets or business of Hyperion in any
        form of transaction, or (B) change the legal name of Hyperion or HYM.  Any assignment in violation of this Section is be void ab initio.

      

      

      (c)

      Modification and Waiver.  No amendment, modification, or alteration of the terms or provisions of this Agreement shall be binding unless the same shall be in writing and duly executed by the Parties.  Notwithstanding the
        foregoing, Exhibit B and the corresponding definition of “Covered Property” may be amended by a writing executed solely by Blacksand and Hyperion.  Any of
        the terms or provisions of this Agreement may be waived in writing at any time by the Party that is entitled to the benefits of such waived term or provision.  No single waiver of any of the provisions of this Agreement shall be deemed to or shall
        constitute, absent an express statement otherwise, a continuous waiver of such provision or a waiver of any other provision hereof (whether or not similar).  No delay on the part of any Party in exercising any right, power, or privilege hereunder
        shall operate as a waiver thereof, and no course of dealing between or among the Parties shall be deemed effective to modify, amend or discharge any part of this Agreement or any rights or obligations of any party hereto under or by reason of this
        Agreement.

      

      

      
        20

        
          

      

       

      (d)

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

      

      

      (e)

      Expenses. Except as otherwise expressly provided in this Agreement, all costs and expenses, including, without limitation, fees and disbursements of
          counsel, financial advisors and accountants, incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party
          incurring such costs and expenses.

      

      

      (f)

      Notices.  Any notice, request, instruction, or other document to be given hereunder by any Party hereto to any other Party shall be in writing and shall be given by delivery in person, by electronic mail, by electronic facsimile
        transmission, by overnight courier or by registered or certified mail, postage prepaid (and shall be deemed given when delivered if delivered by hand or by electronic mail, when transmission confirmation is received if delivered by facsimile, one
        Business Day after deposited with an overnight courier service if delivered by overnight courier and three days after mailing if mailed), as follows:

      

      

      	 	
              If to Hyperion or HYM:

            	 	
              [***]

            
	 	 	 	 
	 	
              with copy to:

            	 	
              [***]

            
	 	 	 	 
	 	
              If to Blacksand:

            	 	
              [***]

            
	 	 	 	 
	 	 	 	 
	 	
              If to Member Zhigang Zak Fang:

            	 	
              [***]

            
	 	 	 	 
	 	
              If to Wenfang Bien Fang:

            	 	
              [***]

            
	 	 	 	 
	 	
              If to Pei Sun:

            	 	
              [***]

            
	 	 	 	 
	 	
              If to Madapusi K. Keshavan:

            	 	
              [***]

            

      

      

      (g)

      Specific Performance.  The Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that the Parties shall be entitled to specific performance
        of the terms hereof, in addition to any other remedy to which they are entitled at law or in equity.

      

      

      (h)

      Attorneys’ Fees and Expenses.  In the event any suit, action, or other proceeding arising out of or relating to this Agreement or any transaction contemplated hereby is commenced by any Party hereto, the prevailing Party in such
        suit, action, or proceeding shall be entitled to recover its reasonable attorneys’ fees and expenses from the other Party(s) as determined by the court in accordance with N.C. Gen. Stat. § 6-21.6.  The parties to this Agreement hereby acknowledge
        this agreement is a contract entered into primarily for business or commercial purposes.

      

      

      (i)

      Governing Law.  This Agreement shall be governed by and interpreted and enforced in accordance with the laws of the State of North Carolina, without giving effect to any choice of law or conflict of laws rules or provisions
        (whether of the State of North Carolina or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of North Carolina.

      

      

       

      (j)

      No Third Party Beneficiaries. This Agreement is intended and agreed to be solely for the benefit of the Parties and their successors and permitted assigns, and no other party or Person shall be entitled to rely on this Agreement
        or accrue any benefit, claim, or right of any kind whatsoever pursuant to, under, by, or through this Agreement

      

      

      (k)

      Counterparts; Electronic Signatures.  This Agreement may be executed in multiple counterparts, each of which shall for all purposes be deemed to be an original and all of which shall constitute the same instrument.  This Agreement
        and any amendments hereto, to the extent signed and delivered by electronic transmission in portable document format (pdf), or by other electronic transmission, shall be considered to have the same binding legal effect as if it were the original
        signed version thereof delivered in person.

      

      

      
        21

        
          

      

      

      

      IN WITNESS WHEREOF, the Parties have executed this Agreement by their duly authorized representatives as of the Effective Date.

      

      

      	 	
              HYPERION:

            
	 	 
	 	
              Hyperion Materials & Technologies, LLC

            
	 	 
	 	 
	 	
              By:

            	
              /s/ Anastasios Arima

            
	 	 	 
	 	
              Name:  

            	
              Anastasios Arima

            
	 	 	 
	 	
              Title:

            	
              Manager

            

      

      

      

      

      	 	
              Blacksand:

            
	 	 
	 	
              Blacksand Technology, LLC

            
	 	 
	 	 
	 	
              By:

            	
              /s/ Madapusi K. Keshavan

            
	 	 
	 	
              Name:  

            	
              Madapusi K. Keshavan

            
	 	 
	 	
              Title:

            	
              President

            

      

      

      

      

      

      

      	 	
              MEMBERS:

            
	 	 
	 	 
	 	
              /s/ Zhigang Zak Fang

            
	 	
              Zhigang Zak Fang

            
	 	 
	 	 
	 	
              /s/ Wenfang Bian Fang

            
	 	
              Wenfang Bian Fang

            
	 	 
	 	 
	 	
              /s/ Pei Sun

            
	 	
              Pei Sun

            
	 	 
	 	 
	 	
              /s/ Madapusi K. Keshavan

            
	 	
              Madapusi K. Keshavan

            

      

      

      

      

      

      

      

      

      
        
          

      

      

      

       

      	 	
              HYM:

            
	 	 
	 	 
	 	
              Hyperion Metals Limited

            
	 	 
	 	 
	 	
              By:

            	
              /s/ Anastasios Arima

            
	 	 
	 	
              Name:  

            	
              Anastasios Arima

            
	 	 
	 	
              Title:

            	
              Director

            
	 	 
	 	 
	 	 
	 	
              By:

            	
              /s/ Gregory Swan

            
	 	 
	 	
              Name:  

            	
              Gregory Swan

            
	 	 
	 	
              Title:

            	
              Company Secretary

            

      

      

      

      

      NOTE:

      

      

      HYM joins in the execution of this Agreement solely to satisfy any conditions of issuance of the Members HYM Shares in the event Hyperion elects to satisfy
        all or part of the Members Paid Amount through the issue of the Members HYM Shares.

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