Document:

Exhibit 10.7

 

FORWARD
PURCHASE AGREEMENT

 

This Forward Purchase
Agreement (this “Agreement”) is entered into as of January 21, 2021, between Liberty Media Acquisition
Corporation, a Delaware corporation (the “Company”), and Liberty Media Acquisition Sponsor LLC, a Delaware limited
liability company (the “Sponsor”).

 

Recitals

 

WHEREAS, the Company
was incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses (a “Business Combination”);

 

WHEREAS, the Company
has filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form S-1
(such registration statement, as may be amended from time to time, including to reflect changes in terms, the “Registration
Statement”) for its initial public offering (“IPO”) of 50,000,000 units (or 57,500,000 units in the
aggregate if the underwriters exercise their over-allotment in full) (the “Public Units”) at a price of $10.00
per Public Unit, each comprised of one share of Series A common stock of the Company, par value $0.0001 per share (the “Series A
Share(s)”), and one-fifth of one redeemable warrant, where each whole redeemable warrant is exercisable to purchase one
Series A Share at an exercise price of $11.50 per share, subject to adjustment (the “Warrant(s)”);

 

WHEREAS, following
the closing of the IPO (the “IPO Closing”), the Company will seek to identify and consummate a Business Combination;

 

WHEREAS, the parties
hereto wish to enter into this Agreement, pursuant to which substantially concurrently with the closing of the Company’s
initial Business Combination (the “Business Combination Closing”), the Company shall issue and sell, and the
Sponsor shall purchase, on a private placement basis, an aggregate of 25,000,000 shares (the “Forward Purchase Shares”)
of Series B common stock of the Company, par value $0.0001 per share (the “Series B Share(s)”), and
5,000,000 redeemable warrants, where each whole redeemable warrant is exercisable to purchase one Series A Share at an exercise
price of $11.50 per share, subject to adjustment (the “Forward Purchase Warrants” and, collectively with the
Forward Purchase Shares and the Series A Shares underlying the Forward Purchase Warrants, the “Forward Purchase Securities”);
and

 

WHEREAS, at the time
of, or prior to, the closing of the IPO, the Company, the Sponsor and Liberty Media Corporation, a Delaware corporation (“LMC”),
shall enter into an investor rights agreement (the “Investor Rights Agreement”) pursuant to which the Company
will grant certain registration rights to the Sponsor and LMC relating to the Forward Purchase Securities.

 

    

     

    

 

NOW, THEREFORE, in
consideration of the premises, representations, warranties and the mutual covenants contained in this Agreement, and for other
good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree
as follows:

 

Agreement

 

1.           Sale
and Purchase.

 

(a)          Forward
Purchase Units.

 

(i)           The
Company shall issue and sell to the Sponsor and the Sponsor shall purchase from the Company, at a price of $10.00 per one Forward
Purchase Share and one- fifth of one Forward Purchase Warrant (one Forward Purchase Share and one-fifth of one Forward Purchase
Warrant, a “Forward Purchase Unit”), an aggregate of 25,000,000 Forward Purchase Units for an aggregate purchase
price of $250,000,000 (the “FPU Purchase Price”). Each Forward Purchase Warrant and its underlying Series A
Share will have the same terms as the Warrants and their underlying Series A Shares to be issued in the IPO. Each Forward
Purchase Warrant will be subject to the terms and conditions of the Warrant Agreement to be entered into between the Company and
Continental Stock Transfer & Trust Company, as Warrant Agent, in connection with the IPO.

 

(ii)          The
Company shall require the Sponsor to purchase the Forward Purchase Units pursuant to Section 1(a)(i) hereof by delivering
notice (the “Company Notice”) to the Sponsor, at least five (5) Business Days before the funding of the
FPU Purchase Price, specifying the anticipated date of the Business Combination Closing and instructions for wiring the FPU Purchase
Price to an account designated by the Company, which may be but need not be an interest-bearing account. At least two (2) Business
Days before the anticipated date of the Business Combination Closing specified in such Company Notice (or such later date as the
Company and the Sponsor may agree), the Sponsor shall deliver the FPU Purchase Price in cash via wire transfer to the account specified
in such Company Notice, to be held in escrow pending the FPU Closing (as defined below). If the FPU Closing does not occur within
five (5) Business Days after the Sponsor delivers the FPU Purchase Price to such account, the Company shall, upon request
of the Sponsor, return to the Sponsor the FPU Purchase Price (and to the extent that there is any interest on the account holding
the FPU Purchase Price, such interest shall go the Sponsor), provided that the return of the FPU Purchase Price placed in escrow
shall not terminate this Agreement or otherwise relieve either party of any of its obligations hereunder and the Company may provide
a subsequent Company Notice pursuant to this Section 1(a)(ii). For the purposes of this Agreement, “Business Day”
means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking institutions are generally
authorized or required by law or regulation to close in the City of New York, New York.

 

(iii)         The
closing of the sale of the Forward Purchase Units (the “FPU Closing”) shall be held on the same date and substantially
concurrently with the Business Combination Closing (such date being referred to as the “FPU Closing Date”).
At the FPU Closing, the Company will issue to the Sponsor the Forward Purchase Shares and Forward Purchase Warrants.

 

(b)         Delivery
of Forward Purchase Units.

 

(i)           The
Company shall register the Sponsor as the owner of the Forward Purchase Shares and Forward Purchase Warrants included in the Forward
Purchase Units with the Company’s transfer agent by book entry on or promptly after (but in no event more than two (2) Business
Days after) the FPU Closing Date.

 

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(ii)          Each
book entry for the Forward Purchase Securities shall contain a notation, and each certificate (if any) evidencing the Forward Purchase
Securities shall be stamped or otherwise imprinted with a legend, in substantially the following form:

 

“THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE
OR OTHER JURISDICTION, AND MAY NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT AND LAWS.”

 

(c)          Registration
Rights. The Sponsor shall have registration rights as set forth in the Investor Rights Agreement substantially in the form
attached as Exhibit 10.4 of the Registration Statement (the “Investor Rights Agreement”).

 

2.           Representations
and Warranties of the Sponsor. The Sponsor represents and warrants to the Company as follows,
as of the date hereof:

 

(a)          Organization
and Power. The Sponsor is duly formed and validly existing and in good standing in its jurisdiction of incorporation or organization
and has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted.

 

(b)          Authorization.
The Sponsor has full power and authority to enter into this Agreement. This Agreement, when executed and delivered by the Sponsor,
will constitute the valid and legally binding obligation of the Sponsor, enforceable against the Sponsor in accordance with its
terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any
other laws of general application affecting enforcement of creditors’ rights generally, (b) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies, or (c) to the extent the indemnification
provisions contained in the Investor Rights Agreement may be limited by applicable federal or state securities laws.

 

(c)          Governmental
Consents and Filings. No consent, approval, order or authorization of, or registration, qualification, designation, declaration
or filing with, any federal, state or local governmental authority is required on the part of the Sponsor in connection with the
execution of this Agreement.

 

(d)          Compliance
with Other Instruments. The execution, delivery and performance by the Sponsor of this Agreement and the consummation by the
Sponsor of the transactions contemplated by this Agreement will not result in any violation or default (i) of any provisions
of its organizational documents, (ii) of any instrument, judgment, order, writ or decree to which it is a party or by which
it is bound, (iii) under any note, indenture or mortgage to which it is a party or by which it is bound, (iv) under any
lease, agreement, contract or purchase order to which it is a party or by which it is bound or (v) of any provision of federal
or state statute, rule or regulation applicable to the Sponsor, in each case (other than clause (i)), which would have a material
adverse effect on the Sponsor or its ability to consummate the transactions contemplated by this Agreement.

 

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(e)          Purchase
Entirely for Own Account. This Agreement is made with the Sponsor in reliance upon the Sponsor’s representation to the
Company, which by the Sponsor’s execution of this Agreement, the Sponsor hereby confirms, that the Forward Purchase Securities
to be acquired by the Sponsor will be acquired for investment for the Sponsor’s own account, not as a nominee or agent, and
not with a view to the resale or distribution of any part thereof, and that the Sponsor has no present intention of selling, granting
any participation in, or otherwise distributing the same in violation of law. By executing this Agreement, the Sponsor further
represents that the Sponsor does not presently have any contract, undertaking, agreement or arrangement with any Person to sell,
transfer or grant participations to such Person or to any third Person, with respect to any of the Forward Purchase Securities.
For purposes of this Agreement, “Person” means an individual, a limited liability company, a partnership, a joint venture,
a corporation, a trust, an unincorporated organization, any other entity or any government or any department or agency thereof.

 

(f)          Disclosure
of Information. The Sponsor has had an opportunity to discuss the Company’s business, management, financial affairs and
the terms and conditions of the offering of the Forward Purchase Units, as well as the terms of the Company’s proposed IPO,
with the Company’s management.

 

(g)          Restricted
Securities. The Sponsor understands that the offer and sale of the Forward Purchase Units have not been registered under the
Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder (the “Securities
Act”), by reason of a specific exemption from the registration provisions of the Securities Act that depends upon, among
other things, the bona fide nature of the investment intent and the accuracy of the Sponsor’s representations as expressed
herein. The Sponsor understands that the Forward Purchase Securities are “restricted securities” under applicable U.S.
federal and state securities laws and that, pursuant to these laws, the Sponsor must hold the Forward Purchase Securities indefinitely
unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification
requirements is available. The Sponsor acknowledges that the Company has no obligation to register or qualify the Forward Purchase
Securities for resale, except pursuant to the Investor Rights Agreement. The Sponsor further acknowledges that if an exemption
from registration or qualification is available, it may be conditioned on various requirements including, but not limited to, the
time and manner of sale, the holding period for the Forward Purchase Securities, and on requirements relating to the Company that
are outside of the Sponsor’s control, and which the Company is under no obligation and may not be able to satisfy. The Sponsor
understands that the offering to the Sponsor of the Forward Purchase Securities is not, and is not intended to be, part of the
IPO, and that the Sponsor will not be able to rely on the protection of Section 11 or Section 12 of the Securities Act
with respect to the Forward Purchase Securities.

 

(h)          No
Public Market. The Sponsor understands that no public market now exists for the Forward Purchase Securities, and that the
Company has made no assurances that a public market will ever exist for the Forward Purchase Securities.

 

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(i)           High
Degree of Risk. The Sponsor understands that its agreement to purchase the Forward Purchase Units involves a high degree of
risk, which could cause the Sponsor to lose all or part of its investment.

 

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

 

(k)          Non-Public
Information. The Sponsor acknowledges its obligations under applicable securities laws with respect to the treatment of material
non-public information relating to the Company.

 

(l)           Affiliation
of Certain FINRA Members. The Sponsor is neither a person associated nor affiliated with Citigroup Global Markets, Inc.,
Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC or Goldman Sachs & Co. LLC or, to its actual knowledge,
any other member of the Financial Industry Regulatory Authority (“FINRA”) that is participating in the IPO.

 

(m)         No
Other Representations and Warranties; Non-Reliance. Except for the specific representations and warranties contained in this
Section 2 and in any certificate or agreement delivered pursuant hereto, none of the Sponsor nor any person acting on behalf
of the Sponsor nor any of the Sponsor’s affiliates (other than the Company) (the “Sponsor Parties”) has
made, makes or shall be deemed to make any other express or implied representation or warranty with respect to the Sponsor and
this offering, and the Sponsor Parties disclaim any such representation or warranty. Except for the specific representations and
warranties expressly made by the Company in Section 3 of this Agreement and in any certificate or agreement delivered pursuant
hereto, the Sponsor Parties specifically disclaim that they are relying upon any other representations or warranties that may have
been made by the Company.

 

(n)         Sufficiency
of Funds. On the FPU Closing Date, the Sponsor will have sufficient funds to pay the FPU Purchase Price pursuant to Section 1(a)(ii) of
this Agreement.

 

3.           Representations
and Warranties of the Company. The Company represents and warrants to the Sponsor as follows:

 

(a)          Incorporation
and Corporate Power. The Company is duly incorporated and validly existing and in good standing as a corporation under the
laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted
and as proposed to be conducted. The Company has no subsidiaries.

 

(b)         Capitalization.
As of the date of this Agreement, the authorized share capital of the Company consists of:

 

(i)           3,000,000,000
Series A Shares, none of which are issued and outstanding.

 

(ii)          1,000,000,000
Series B Shares, none of which are issued and outstanding.

 

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(iii)         5,000,000,000
shares of Series C common stock of the Company, par value $0.0001 per share, none of which are issued and outstanding.

 

(iv)         200,000,000
shares of Series F common stock of the Company, par value $0.0001 per share (“Series F Share(s)”),
14,375,000 of which are issued and outstanding (1,875,000 of which are subject to forfeiture to the extent that the underwriters’
over-allotment option in connection with the IPO is not exercised in full). All of the issued and outstanding Series F Shares
have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal and state
securities laws.

 

(v)          50,000,000
shares of undesignated preferred stock, none of which are issued and outstanding.

 

(c)          Authorization;
No Breach. (i) The execution, delivery and performance of this Agreement and the issuance and sale of the Forward Purchase
Units, including the Forward Purchase Shares and the Forward Purchase Warrants included in the Forward Purchase Units, have been
duly authorized by the Company as of the FPU Closing Date. This Agreement constitutes the valid and binding obligation of the Company,
enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium
and other laws of general applicability relating to or affecting creditors’ rights and to general equitable principles (whether
considered in a proceeding in equity or law). Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant
Agreement and this Agreement, the Forward Purchase Warrants will constitute valid and binding obligations of the Company, enforceable
in accordance with their terms.

 

(ii)          The
execution and delivery by the Company of this Agreement and the issuance and sale of the Forward Purchase Units, including the
Forward Purchase Warrants and the Forward Purchase Shares included in the Forward Purchase Units, and the fulfillment of and compliance
with the respective terms hereof and thereof by the Company, do not and will not as of the FPU Closing Date (a) conflict with
or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation
of any lien, security interest, charge or encumbrance upon the Company’s share capital or assets under, (d) result in
a violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration
to, or filing with, any court or administrative or governmental body or agency pursuant to the Company’s certificate of incorporation
(the “Charter”) and bylaws (the “Bylaws”) or any material law, statute, rule or regulation
to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for (x) any
filings required after the date hereof under federal or state securities laws, or (y) any required approval of the stockholders
of the Company, as applicable.

 

(d)          Valid
Issuance of Forward Purchase Units. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant
Agreement, the Forward Purchase Shares and the shares issuable upon exercise of the Forward Purchase Warrants will be duly and
validly issued, fully paid and nonassessable. Assuming the accuracy of the representations of the Sponsor in this Agreement and
subject to the filings described in Section 3(e) below, the Forward Purchase Units will be issued in compliance with
all applicable federal and state securities laws. Upon issuance in accordance with, and payment pursuant to, the terms hereof and
the Warrant Agreement, the Sponsor will have good title to the Forward Purchase Warrants and the Forward Purchase Shares purchased
by it and the shares issuable upon exercise of the Forward Purchase Warrants, free and clear of all preemptive or similar rights,
taxes, liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and under the other agreements
contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances
imposed due to the actions of the Sponsor.

 

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(e)          Governmental
Consents and Filings. Assuming the accuracy of the representations and warranties made by the Sponsor in this Agreement, no
consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal,
state or local governmental authority is required on the part of the Company in connection with the consummation of the transactions
contemplated by this Agreement, except for applicable requirements of the Securities Act, the Securities Exchange Act of 1934,
as amended, and the rules and regulations of the Commission promulgated thereunder (the “Exchange Act”),
and such as may be required under state securities or blue sky laws of any jurisdiction.

 

(f)          Compliance
with Other Instruments. The execution, delivery and performance of this Agreement and the consummation of the transactions
contemplated by this Agreement will not result in any violation or default (i) of any provisions of its Charter, Bylaws or
other governing documents, (ii) of any instrument, judgment, order, writ or decree to which it is a party or by which it is
bound, (iii) under any note, indenture or mortgage to which it is a party or by which it is bound, (iv) under any lease,
agreement, contract or purchase order to which it is a party or by which it is bound or (v) of any provision of federal or
state statute, rule or regulation applicable to the Company, in each case (other than clause (i)) which would have a material
adverse effect on the Company or its ability to consummate the transactions contemplated by this Agreement.

 

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

 

(h)         No
Other Representations and Warranties; Non-Reliance. Except for the specific representations and warranties contained in this
Section 3 and in any certificate or agreement delivered pursuant hereto, the Company has not made and does not make nor shall
be deemed to make any other express or implied representation or warranty with respect to the Company, this offering, the proposed
IPO or a potential Business Combination, and the Company disclaims any such representation or warranty. Except for the specific
representations and warranties expressly made by the Sponsor in Section 2 of this Agreement and in any certificate or agreement
delivered pursuant hereto, the Company specifically disclaims that it is relying upon any other representations or warranties that
may have been made by the Sponsor Parties.

 

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4.           Additional
Agreements and Acknowledgements and Waivers of the Sponsor.

 

(a)          Trust
Account.

 

(i)           The
Sponsor hereby acknowledges that it is aware that the Company will establish a trust account (the “Trust Account”)
for the benefit of its public stockholders upon the closing of the IPO.

 

(ii)          The
Sponsor hereby agrees that it shall have no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future, except for redemption and liquidation rights, if any, the Sponsor may have in respect of
any Series A Shares purchased in the IPO or thereafter. In the event the Sponsor has any Claim against the Company under this
Agreement, the Sponsor shall pursue such Claim solely against the Company and its assets outside the Trust Account and not against
the property or any monies in the Trust Account, except for redemption and liquidation rights, if any, the Sponsor may have in
respect of any Series A Shares held by it.

 

(b)          No
Short Sales. The Sponsor hereby agrees that neither it, nor any person or entity acting on its behalf or pursuant to any understanding
with it, will engage in any Short Sales with respect to securities of the Company prior to the Business Combination Closing. For
purposes of this Section, “Short Sales” shall include, without limitation, all “short sales” as defined
in Rule 200 promulgated under Regulation SHO under the Exchange Act and all types of direct and indirect stock pledges (other
than pledges in the ordinary course of business as part of prime brokerage arrangements), forward sale contracts, options, puts,
calls, swaps and similar arrangements (including on a total return basis), and sales and other transactions through non-U.S. broker
dealers or foreign regulated brokers.

 

5.           Additional
Agreements of the Company and Reservation of Shares.

 

(a)          Nasdaq
Listing. The Company will use commercially reasonable best efforts to effect and maintain the listing of the Series A
Shares and the Warrants on The Nasdaq Capital Market (or another national securities exchange).

 

(b)         Reservation
of Shares. The Company has reserved and shall keep available that maximum number of (i) its authorized but unissued Series B
Shares and Forward Purchase Warrants that may be sold to the Sponsor pursuant to Section 1(a) of this Agreement, and
(ii) the Series A Shares issuable upon (x) exercise of the Forward Purchase Warrants that may be sold pursuant to
Section 1(a) of this Agreement and (y) conversion of Series B Shares that may be sold to the Sponsor pursuant
to Section 1(a) of this Agreement.

 

(c)          Reserved
Purchase Right for Additional Series B Shares.

 

(i)           If
(A) the Company at any time or from time to time proposes to issue any equity or debt securities or incur any indebtedness
in connection with a Business Combination (a “Capital Raise”), the Sponsor shall have the right to purchase
(or designate another LMC Stockholder (as such term is defined in the Amended and Restated Certificate of Incorporation of the
Company, dated January 21, 2021 (including as it may subsequently be amended, modified, supplemented and/or restated in accordance
with its terms)) to purchase (such designated LMC Stockholder, the “Sponsor Designee”)), in whole or in part,
from the Company, and the Company shall sell to the Sponsor or the Sponsor Designee, as applicable, at a price of $10.00 per share
a number of Series B Shares equal to the total net proceeds to be raised in such Capital Raise divided by $10.00 or (B) the
Sponsor desires to purchase Series B Shares of the Company prior to a Business Combination, the Sponsor shall have the right
to purchase (or designate a Sponsor Designee to purchase), in whole or in part, from the Company, and the Company shall sell to
the Sponsor or the Sponsor Designee, as applicable, at a price of $10.00 per share, a number of Series B Shares specified
by the Sponsor or the Sponsor Designee, if applicable, by written notice to the Company (clauses (A) and (B), collectively,
the “Purchase Right”).

 

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(ii)          The
Company shall give written notice to the Sponsor of any proposed Capital Raise or Business Combination as promptly as practicable,
but in no event later than ten (10) Business Days prior to such Capital Raise or Business Combination, which notice shall
set forth all terms and conditions of the Capital Raise or Business Combination, as applicable, including (A) the number of
(or formula for determining such number) and a description of the securities to be issued (including whether such number of securities
includes the amount of securities to be purchased by the Purchase Right); (B) the issuance date; (C) the offerees or
transferees; and (D) the purchase price per security. Such notice shall be deemed updated by delivery of the final documentation
for such issuance to the Sponsor.

 

(iii)         The
Purchase Right shall be exercisable with respect to a Capital Raise or Business Combination by delivery of written notice to the
Company (the “Purchase Right Notice”) no later than five (5) Business Days after receipt of the Company’s
notice of such Capital Raise or Business Combination, respectively, specifying the number of Series B Shares to be purchased
(which number may be updated from time to time by the Sponsor or the Sponsor Designee, if applicable, in response to changes to
the terms and conditions of the Capital Raise or Business Combination). If the Sponsor or the Sponsor Designee, as applicable,
exercises the Purchase Right, the Company shall issue to the Sponsor or the Sponsor Designee, as applicable, and the Sponsor (or
Sponsor Designee, as applicable) shall purchase the number of Series B Shares specified in the Purchase Right Notice (A) on
the same date as, and immediately prior to, the Capital Raise or Business Combination, as applicable or (B) at such date and
time as mutually agreed among the Company and the Sponsor or the Sponsor Designee, as applicable, in each case, subject only to
the consummation of the Business Combination.

 

(iv)         The
Purchase Right shall terminate automatically after consummation of the Business Combination.

 

6.           FPU
Closing Conditions.

 

(a)          The
obligation of the Sponsor to purchase the Forward Purchase Units at the FPU Closing under this Agreement shall be subject to the
fulfillment, at or prior to the FPU Closing of each of the following conditions, any of which, to the extent permitted by applicable
laws, may be waived by the Sponsor:

 

(i)           the
Business Combination shall be consummated substantially concurrently with the purchase of Forward Purchase Units;

 

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(ii)          the
representations and warranties of the Company set forth in Section 3 of this Agreement shall have been true and correct as
of the date hereof and shall be true and correct, in the case of the Company, as of the FPU Closing, as applicable, with the same
effect as though such representations and warranties had been made on and as of such date (other than any such representation or
warranty that is made by its terms as of a specified date, which shall be true and correct as of such specified date), except,
in the case of the Company, where the failure to be so true and correct would not have a material adverse effect on the Company
or its ability to consummate the transactions contemplated by this Agreement;

 

(iii)         the
Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Company at or prior to the FPU Closing;

 

(iv)         no
order, writ, judgment, injunction, decree, determination, or award shall have been entered by or with any governmental, regulatory,
or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or prohibition
shall be in effect, preventing the purchase by the Sponsor of the Forward Purchase Units; and

 

(v)          The
Company shall have entered into an Investor Rights Agreement with the Sponsor and LMC, and such Investor Rights Agreement shall
still be in effect as of the FPU Closing.

 

(b)          The
obligation of the Company to sell the Forward Purchase Units at the FPU Closing under this Agreement shall be subject to the fulfillment,
at or prior to the FPU Closing of each of the following conditions, any of which, to the extent permitted by applicable laws, may
be waived by the Company:

 

(i)           the
Business Combination shall be consummated substantially concurrently with the purchase of Forward Purchase Units;

 

(ii)          the
representations and warranties of the Sponsor set forth in Section 2 of this Agreement shall have been true and correct as
of the date hereof and shall be true and correct as of the FPU Closing, as applicable, with the same effect as though such representations
and warranties had been made on and as of such date (other than any such representation or warranty that is made by its terms as
of a specified date, which shall be true and correct as of such specified date), except where the failure to be so true and correct
would not have a material adverse effect on the Sponsor or its ability to consummate the transactions contemplated by this Agreement;

 

(iii)         the
Sponsor shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Sponsor at or prior to the FPU Closing; and

 

(iv)         no
order, writ, judgment, injunction, decree, determination, or award shall have been entered by or with any governmental, regulatory,
or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or prohibition
shall be in effect, preventing the purchase by the Sponsor of the Forward Purchase Units.

 

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7.           Termination.
This Agreement may be terminated at any time prior to the FPU Closing:

 

(a)          by
mutual written consent of the Company and the Sponsor;

 

(b)          automatically

 

(i)           if
the IPO is not consummated on or prior to December 31, 2021;

 

(ii)          if
the Business Combination is not consummated within twenty-four (24) months from the closing of the IPO (or 27 months from the closing
of the IPO if the Company has executed a letter of intent, agreement in principle or definitive agreement for the Business Combination
within 24 months from the closing of the IPO), unless extended upon approval of the Company’s stockholders in accordance
with the Charter; or

 

(iii)         if
the Company becomes subject to any voluntary or involuntary petition under the United States federal bankruptcy laws or any state
insolvency law, in each case which is not withdrawn within sixty (60) days after being filed, or a receiver, fiscal agent or similar
officer is appointed by a court for business or property of the Company, in each case which is not removed, withdrawn or terminated
within sixty (60) days after such appointment.

 

In the event of any
termination of this Agreement pursuant to this Section 7, the FPU Purchase Price (and interest thereon, if any), if previously
paid, and the Sponsor’s funds paid in connection herewith shall be promptly returned to the Sponsor, and thereafter this
Agreement shall forthwith become null and void and have no effect, without any liability on the part of the Sponsor or the Company
and their respective directors, officers, employees, partners, managers, members, or stockholders and all rights and obligations
of each party shall cease; provided, however, that nothing contained in this Section 7 shall relieve any party
from liabilities or damages arising out of any fraud or willful breach by such party of any of its representations, warranties,
covenants or agreements contained in this Agreement.

 

8.           General
Provisions.

 

(a)          Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given upon the earlier of actual receipt, and (a) personal delivery to the party to be notified, (b) when sent, if sent
by electronic mail or facsimile (if any) during normal business hours of the recipient, and if not sent during normal business
hours, then on the recipient’s next Business Day, (c) three (3) Business Days after having been sent by registered
or certified mail, return receipt requested, postage prepaid, or (d) one (1) Business Day after deposit with a nationally
recognized overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. All
communications sent to the Company shall be sent to: Liberty Media Acquisition Corporation, 12300 Liberty Boulevard, Englewood,
Colorado 80112, Attn: Chief Legal Officer, email: [separately provided], with a copy to the Company’s counsel at: Skadden,
Arps, Slate, Meagher & Flom LLP, 525 University Ave., Palo Alto, CA 94301, Attn: Gregg Noel, Esq., email: Gregg.Noel@skadden.com,
respectively.

 

All communications
to the Sponsor shall be sent to the Sponsor’s address at Liberty Media Acquisition Sponsor LLC, 12300 Liberty Boulevard,
Englewood, Colorado 80112, Attn: Chief Legal Officer, email: [separately provided].

 

    11

     

    

 

(b)         Survival
of Representations and Warranties. All of the representations and warranties contained herein shall survive the FPU Closing.

 

(c)          Entire
Agreement. This Agreement, together with any documents, instruments and writings that are delivered pursuant hereto or referenced
herein, constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes
all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate
in any way to the subject matter hereof or the transactions contemplated hereby.

 

(d)          Successors.
All of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are binding upon, and inure
to the benefit of and are enforceable by, the parties hereto and their respective successors. Nothing in this Agreement, express
or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

(e)          Assignments.
Except as otherwise specifically provided herein, no party hereto may assign either this Agreement or any of its rights, interests,
or obligations hereunder without the prior written approval of the other party.

 

(f)           Counterparts.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together
will constitute one and the same instrument.

 

(g)          Headings.
The section headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or
interpretation of this Agreement.

 

(h)          Governing
Law. This Agreement, the entire relationship of the parties hereto, and any dispute between the parties (whether grounded in
contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws
of the State of Delaware.

 

(i)           Jurisdiction.
The parties hereto (i) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of Delaware and
to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action or other
proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising
out of or based upon this Agreement except in state courts of Delaware or the United States District Court for the District of
Delaware, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action
or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is
exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the
venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in
or by such court.

 

(j)           Waiver
of Jury Trial. The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to this
Agreement and the transactions contemplated hereby.

 

    12

     

    

 

(k)          Amendments
and Waiver. This Agreement may not be amended, modified or waived as to any particular provision, except with the written consent
of the Company and the Sponsor. No waiver by any party hereto of any default, misrepresentation, or breach of warranty or covenant
hereunder, whether intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach
of warranty or covenant hereunder or affect in any way any rights arising because of any prior or subsequent occurrence.

 

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

 

(m)         Expenses.
Each of the Company and the Sponsor will bear its own costs and expenses incurred in connection with the preparation, execution
and performance of this Agreement and the consummation of the transactions contemplated hereby, including all fees and expenses
of agents, representatives, financial advisors, legal counsel and accountants.

 

(n)          Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of
intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement.
Any reference to any federal, state, local, or foreign law will be deemed also to refer to law as amended and all rules and
regulations promulgated thereunder, unless the context requires otherwise. The words “include,” “includes,”
and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine,
and neuter genders will be construed to include any other gender, and words in the singular form will be construed to include the
plural and vice versa, unless the context otherwise requires. The words “this Agreement,” “herein,” “hereof,”
 “hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular
subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein
will have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein
in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless
of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that
such party hereto is in breach of the first representation, warranty, or covenant. The word “Business Day” means
any calendar day other than Saturday, Sunday, or a day on which banks in New York, New York or Denver, Colorado are authorized
or required to be closed.

 

    13

     

    

 

(o)          Confidentiality.
Except as may be required by law, regulation or applicable stock exchange listing requirements, unless and until the transactions
contemplated hereby and the terms hereof are publicly announced or otherwise publicly disclosed by the Company, the parties hereto
shall keep confidential and shall not publicly disclose the existence or terms of this Agreement.

 

(p)          Adjustments.
References herein to numbers of shares, the series thereof, and to per share prices, shall be appropriately adjusted to account
for any reclassification, exchange, substitution, combination, stock split, reverse stock split , or stock dividend or other share
distribution made on or with respect to the applicable series of shares, occurring or effective following the date of this Agreement.

 

[Signature page follows]

 

    14

     

    

 

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

 

 

	SPONSOR:	 
	 	 
	LIBERTY MEDIA ACQUISITION SPONSOR LLC	 
	 	 
	 	 
	By:	/s/ Craig Troyer	 
	 	Name: Craig Troyer	 
	 	Title: Senior Vice President and Assistant Secretary	 
	 	 
	 	 
	COMPANY:	 
	 	 
	LIBERTY MEDIA ACQUISITION CORPORATION	 
	 	 
	 	 
	By:	/s/ Renee L. Wilm	 
	 	Name: Renee L. Wilm	 
	 	Title: Chief Legal Officer and Chief Administrative Officer	 

 

[Signature Page to Forward Purchase Agreement]Exhibit 4.1

 

 

WARRANT AGREEMENT

 

between

 

PRIMAVERA CAPITAL ACQUISITION CORPORATION

 

and

 

CONTINENTAL STOCK TRANSFER & TRUST COMPANY

 

 

THIS WARRANT AGREEMENT (this “Agreement”),
dated as of January 21, 2021, is by and between Primavera Capital Acquisition Corporation, a Cayman Islands exempted company (the
“Company”), and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent
(the “Warrant Agent”).

 

WHEREAS, on January 21, 2021 the Company
entered into that certain Sponsor Warrants Purchase Agreement with Primavera Capital Acquisition LLC, a Cayman Islands limited
liability company (the “Sponsor”), pursuant to which the Sponsor agreed to purchase an aggregate of 9,200,000
warrants (or up to 10,280,000 warrants if the Over-allotment Option (as defined below) in connection with the Company’s Offering
(as defined below) is exercised in full) simultaneously with the closing of the Offering (and any closing of the Over-allotment
Option, if applicable) bearing the legend set forth in Exhibit B hereto (the “Private Placement Warrants”)
at a purchase price of $1.00 per Private Placement Warrant. Each Private Placement Warrant entitles the holder thereof to purchase
one Class A ordinary share (as defined below) at a price of $11.50 per share, subject to adjustment, terms and limitations as described
herein; and

 

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

 

WHEREAS, the Company is engaged in an initial
public offering (the “Offering”) of units of the Company’s equity securities (the “Units”),
each such Unit comprised of one Class A ordinary share of the Company, par value $0.0001 per share (“Class A ordinary
shares”), and one-half of one redeemable warrant (the “Public Warrants” and, together with
the Private Placement Warrants, the “Warrants”), and, in connection therewith, has determined to issue
and deliver up to 20,700,000 Public Warrants (including up to 2,700,000 Public Warrants subject to the Over-allotment Option) to
public investors in the Offering. Each whole Public Warrant entitles the holder thereof to purchase one Class A ordinary share
at a price of $11.50 per share, subject to adjustment, terms and limitations as described herein; and

 

WHEREAS, the Company has filed with the
Securities and Exchange Commission (the “Commission”) a registration statement on Form S-1, File No.
333-251917 and prospectus (the

 

     

     

    

“Prospectus”),
for the registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Units,
the Public Warrants and the Class A ordinary shares included in the Units; and

 

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

 

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

 

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

 

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

 

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

 

2.       Warrants.

 

2.1.       Form
of Warrant. Each Warrant shall initially be issued in registered form only.

 

2.2.       Effect
of Countersignature. If a physical certificate is issued, unless and until countersigned by the Warrant Agent pursuant to this
Agreement, such Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.3.       Registration.

 

2.3.1.       Warrant
Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration of
original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent
shall issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance
with instructions delivered to the Warrant Agent by the Company. Ownership of beneficial interests in the Public Warrants shall
be shown on, and the transfer of such ownership shall be effected through, records maintained by institutions that have accounts
with The Depository Trust Company (the “Depositary”) (such institution, with respect to a Warrant in
its account, a “Participant”).

 

If the Depositary subsequently ceases to
make its book-entry settlement system available for the Public Warrants, the Company may instruct the Warrant Agent regarding making
other

 

    2 

     

    

arrangements
for book-entry settlement. In the event that the Public Warrants are not eligible for, or it is no longer necessary to have the
Public Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary to deliver
to the Warrant Agent for cancellation each book-entry Public Warrant, and the Company shall instruct the Warrant Agent to deliver
to the Depositary definitive certificates in physical form evidencing such Warrants which shall be in the form annexed hereto
as Exhibit A.

 

Physical certificates, if issued, shall
be signed by, or bear the facsimile signature of, the Chairman of the Board, Chief Executive Officer, Chief Financial Officer,
Chief Operating Officer, Secretary or other principal officer of the Company. In the event the person whose facsimile signature
has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such
Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

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

 

2.4.       Detachability
of Warrants. The Class A ordinary shares and Public Warrants comprising the Units shall begin separate trading on the 52nd
day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday,
on which banks in New York City are generally open for normal business (a “Business Day”), then on the
immediately succeeding Business Day following such date, or earlier (the “Detachment Date”) with the
consent of Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc., but in no event shall the Class A ordinary shares
and the Public Warrants comprising the Units be separately traded until (A) the Company has filed a current report on Form 8-K
with the Commission containing an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering,
including the proceeds then received by the Company from the exercise by the underwriters of their right to purchase additional
Units in the Offering (the “Over-allotment Option”), if the Over-allotment Option is exercised prior
to the filing of the Form 8-K, and (B) the Company issues a press release announcing when such separate trading shall begin.

 

2.5.       No
Fractional Warrants Other Than as Part of Units. The Company shall not issue fractional Warrants other than as part of the
Units, each of which is comprised of one Class A ordinary share and one-half of one whole Public Warrant. If, upon the detachment
of Public Warrants from the Units or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company
shall round down to the nearest whole number the number of Warrants to be issued to such holder.

 

2.6.       Private
Placement Warrants. The Private Placement Warrants shall be identical to the Public Warrants, except that so long as they are
held by the Sponsor or any of its Permitted Transferees (as defined below): (i) the Private Placement Warrants may be exercised

 

    3 

     

    

for
cash or on a “cashless basis,” pursuant to subsection ‎3.3.1(c)
hereof, (ii) the Private Placement Warrants (including the Class A ordinary shares issuable upon exercise of the Private Placement
Warrants) may not be transferred, assigned or sold until thirty (30) days after the completion by the Company of an initial Business
Combination, (iii) the Private Placement Warrants shall not be redeemable by the Company and (iv) the Private Placement Warrants
will be entitled to registration rights; provided, however, that in the case of (ii), the Private Placement Warrants
and any Class A ordinary shares held by the Sponsor or any of its Permitted Transferees and issued upon exercise of the Private
Placement Warrants may be transferred by the holders thereof:

 

(a)       to
the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or directors,
any members of the Sponsor or any affiliates of the Sponsor;

 

(b)       in
the case of an individual, by gift to a member of the individual’s immediate family, or to a trust, the beneficiary of which
is a member of the individual’s immediate family or an affiliate of such person, or to a charitable organization;

 

(c)       in
the case of an individual, by virtue of laws of descent and distribution upon death of the individual;

 

(d)       in
the case of an individual, pursuant to a qualified domestic relations order;

 

(e)       by
private sales or transfers made in connection with any forward purchase agreement or similar arrangement or in connection with
the consummation of the Company’s Business Combination at prices no greater than the price at which the securities were originally
purchased;

 

(f)       by
virtue of the laws of the Cayman Islands or the Sponsor’s limited liability company agreement, as amended from time to time,
upon dissolution of the Sponsor; and

 

(g)       in
the event of the Company’s liquidation prior to the Company’s completion of an initial Business Combination;

 

(h)       in
the event of the Company’s completion of a liquidation, merger, amalgamation, share exchange, reorganization or other similar
transaction which results in all of the Company’s shareholders having the right to exchange their Class A ordinary shares
for cash, securities or other property subsequent to the completion of the Company’s initial Business Combination; provided,
however, that, in the case of clauses (a) through (f), these permitted transferees (the “Permitted Transferees”)
must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in this Agreement.

 

3.       Terms
and Exercise of Warrants.

 

3.1.       Warrant
Price. Each whole Warrant (if in certificated form, when countersigned by the Warrant Agent), shall entitle the Registered
Holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the number of

 

    4 

     

    

Class
A ordinary shares stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section ‎4
hereof and in the last sentence of this Section ‎3.1. The term
“Warrant Price” as used in this Agreement shall mean the price per share (including in cash or by payment of Warrants
pursuant to a “cashless exercise,” to the extent permitted hereunder) at which Class A ordinary shares may be purchased
at the time a Warrant is exercised. The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration
Date (as defined below) for a period of not less than twenty (20) Business Days, provided that the Company shall provide at least
twenty (20) days prior written notice of such reduction to Registered Holders of the Warrants and, provided further that any such
reduction shall be identical among all of the Warrants.

 

3.2.       Duration
of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) commencing
on the later of: (i) the date that is thirty (30) days after the first date on which the Company completes a merger, amalgamation,
share exchange, asset acquisition, share purchase, reorganization or similar business combination, involving the Company and one
or more businesses (a “Business Combination”), and (ii) the date that is twelve (12) months from the
date of the closing of the Offering, and terminating on the earliest to occur of: (x) 5:00 P.M., New York City time, on the date
that is five (5) years after the date on which the Company completes its initial Business Combination, (y) the liquidation of the
Company in accordance with the Company’s amended and restated memorandum and articles of association, as amended from time
to time, if the Company fails to complete a Business Combination, and (z) other than with respect to the Private Placement Warrants
then held by the Sponsor or any of its Permitted Transferees, 5:00 P.M., New York City time, on the Redemption Date (as defined
below) as provided in Section 6.3 hereof (the “Expiration Date”); provided, however,
that the exercise of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in subsection ‎3.3.2
below with respect to an effective registration statement. Except with respect to the right to receive the Redemption Price (as
defined below) (other than with respect to a Private Placement Warrant then held by the Sponsor or any of its Permitted Transferees
in the event of a redemption pursuant to Section 6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share
(subject to adjustment in compliance with Section 6.1 hereof), Section 6.2 hereof) in the event of a redemption (as
set forth in Section ‎6 hereof), each outstanding Warrant (other than
a Private Placement Warrant held by the Sponsor or any of its Permitted Transferees in the event of a redemption pursuant to Section
6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section
6.1 hereof), Section 6.2 hereof) not exercised on or before the Expiration Date shall become void, and all rights thereunder
and all rights in respect thereof under this Agreement shall cease at 5:00 p.m., New York City time, on the Expiration Date. The
term “outstanding” as used in this Agreement with respect to any securities shall mean securities that are issued and
outstanding. The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided,
that the Company shall provide at least twenty (20) days prior written notice of any such extension to Registered Holders of the
Warrants and, provided further that any such extension shall be identical in duration among all the Warrants.

 

3.3.       Exercise
of Warrants.

 

3.3.1.       Payment.
Subject to the provisions of the Warrant and this Agreement, a Warrant (if in certificated form, when countersigned by the Warrant
Agent) may

 

    5 

     

    

be
exercised by the Registered Holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor
as Warrant Agent, in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant,
duly executed (or, in the case of Warrants held through the Depositary in uncertificated or book-entry only form, through the
applicable procedures of the Depositary), and by paying in full the Warrant Price for each Class A ordinary share as to which
the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange of
the Warrant for the Class A ordinary shares and the issuance of such Class A ordinary shares, as follows:

 

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

 

(b)       [Reserved];

 

(c)       with
respect to any Private Placement Warrant, so long as such Private Placement Warrant is held by the Sponsor or any of its Permitted
Transferees, by surrendering the Warrants for that number of Class A ordinary shares equal to (i) in connection with a redemption
of Private Placement Warrants pursuant to Section 6.2 hereof, as provided in Section 6.2 hereof with respect to a
Make-Whole Exercise and (ii) in all other scenarios 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” (as defined in this subsection
‎3.3.1(c)) over the exercise price of the Warrants by (y) the Fair Market
Value. Solely for purposes of this subsection ‎3.3.1(c), the “Fair
Market Value” shall mean the average last reported sale price of the Class A ordinary shares for the ten (10) trading days
ending on the third trading day prior to the date on which notice of exercise of the Private Placement Warrant is sent to the Warrant
Agent;

 

(d)       on
a cashless basis, as provided in Section 6.2 hereof with respect to a Make-Whole Exercise; or

 

(e)       on
a cashless basis, as provided in Section 7.4 hereof.

 

3.3.2.       Issuance
of Class A Ordinary Shares on Exercise. As soon as practicable after the exercise of any Warrant and the clearance of the funds
in payment of the Warrant Price (if payment is pursuant to subsection ‎3.3.1(a)),
the Company shall issue to the Registered Holder of such Warrant a book-entry position or certificate, as applicable, for the number
of full Class A ordinary shares to which he, she or it is entitled, registered in such name or names as may be directed by him,
her or it on the register of members of the Company, and if such Warrant shall not have been exercised in full, a new book-entry
position or countersigned Warrant, as applicable, for the number of shares as to which such Warrant shall not have been exercised.
Notwithstanding the foregoing, the Company shall not be obligated to deliver any Class A ordinary shares pursuant to the exercise
of a Warrant and shall have no obligation to settle such Warrant exercise unless a registration statement under the Securities
Act covering the issuance of the Class A ordinary shares underlying the Public Warrants is then effective and a prospectus relating
thereto is current, subject to the Company’s satisfying its obligations under Section ‎7.4.
No Warrant shall be exercisable and the Company shall not be obligated to issue Class A ordinary shares upon exercise of a Warrant
unless the Class A ordinary shares issuable upon such Warrant exercise have been registered, qualified or deemed to be exempt from

 

    6 

     

    

registration
or qualification 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
shall not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless, in which case the purchaser
of a Unit containing such Public Warrants shall have paid the full purchase price for the Unit solely for the Class A ordinary
shares underlying such Unit. In no event will the Company be required to net cash settle any Warrant. The Company may require
holders of Public Warrants to settle the Warrant on a “cashless basis” pursuant to Section ‎7.4.
If, by reason of any exercise of Warrants on a “cashless basis”, the holder of any Warrant would be entitled, upon
the exercise of such Warrant, to receive a fractional interest in a Class A ordinary shares, the Company shall round down to the
nearest whole number, the number of Class A ordinary shares to be issued to such holder.

 

3.3.3.       Valid
Issuance. All Class A ordinary shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall
be validly issued, fully paid and non-assessable.

 

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

 

3.3.5.       Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions
contained in this subsection ‎3.3.5; however, no holder of a
Warrant shall be subject to this subsection ‎3.3.5 unless he, she or
it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s
Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise,
such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own
in excess of 4.9% or 9.8% (as specified by the holder) (the “Maximum Percentage”) of the Class A ordinary
shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number
of Class A ordinary shares beneficially owned by such person and its affiliates shall include the number of Class A ordinary shares
issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude
Class A ordinary shares that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially
owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities
of the Company beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible
preferred shares or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except
as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be

 

    7 

     

    

calculated
in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
For purposes of the Warrant, in determining the number of outstanding Class A ordinary shares, the holder may rely on the number
of outstanding Class A ordinary shares as reflected in (1) the Company’s most recent annual report on Form 10-K, quarterly
report on Form 10-Q, current report on Form 8-K or other public filing with the Commission as the case may be, (2) a more recent
public announcement by the Company or (3) any other notice by the Company or Continental Stock Transfer & Trust Company, as
transfer agent (the “Transfer Agent”), setting forth the number of Class A ordinary shares outstanding.
For any reason at any time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business
Days, confirm orally and in writing to such holder the number of Class A ordinary shares then outstanding. In any case, the number
of outstanding Class A ordinary shares shall be determined after giving effect to the conversion or exercise of equity securities
of the Company by the holder and its affiliates since the date as of which such number of outstanding Class A ordinary shares
was reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum
Percentage applicable to such holder to any other percentage specified in such notice; provided, however, that any
such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company.

 

4.       Adjustments.

 

4.1.       Stock
Dividends.

 

4.1.1.       Split-Ups.
If after the date hereof, and subject to the provisions of Section ‎4.7
below, the number of outstanding Class A ordinary shares is increased by a capitalization or share dividend payable in Class A
ordinary shares, or by a split-up of Class A ordinary shares or other similar event, then, on the effective date of such share
dividend, split-up or similar event, the number of Class A ordinary shares issuable on exercise of each Warrant shall be increased
in proportion to such increase in the outstanding Class A ordinary shares. A rights offering to holders of Class A ordinary shares
entitling holders to purchase Class A ordinary shares at a price less than the “Fair Market Value” (as defined below)
shall be deemed a share dividend of a number of Class A ordinary shares equal to the product of (i) the number of Class A ordinary
shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are
convertible into or exercisable for Class A ordinary shares) multiplied by (ii) one (1) minus the quotient of (x) the price per
Class A ordinary shares paid in such rights offering divided by (y) the Fair Market Value. For purposes of this subsection ‎4.1.1,
(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 shall be taken into account any consideration received for such rights, as well as any
additional amount payable upon exercise or conversion and (ii) “Fair Market Value” means the volume weighted average
price of 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.

 

4.1.2.       Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution
in cash, securities or other assets to the holders of Class A ordinary shares on account of such Class A

 

    8 

     

    

ordinary
shares (or other securities into which the Warrants are convertible), other than (a) as described in subsection ‎4.1.1
above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of Class A ordinary
shares in connection with a proposed initial Business Combination, (d) to satisfy the redemption rights of the holders of Class
A ordinary shares in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles
of association (i) to modify the substance or timing of the Company’s obligation to allow redemption in connection with
the Company’s initial Business Combination or to redeem 100% of its public shares if the Company does not complete its initial
Business Combination within the required time period or (ii) with respect to any other provision relating to shareholders’
rights or pre-initial Business Combination activity or (e) in connection with the redemption of public shares upon the failure
of the Company to complete its initial Business Combination and any subsequent distribution of its assets upon its liquidation
(any such non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant
Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash
and/or the fair market value (as determined by the Board, in good faith) of any securities or other assets paid on each Class
A ordinary shares in respect of such Extraordinary Dividend. For purposes of this subsection ‎4.1.2,
“Ordinary Cash Dividends” means any cash dividend or cash distribution which, when combined on a per
share basis, with the per share amounts of all other cash dividends and cash distributions paid on the Class A ordinary shares
during the 365-day period ending on the date of declaration of such dividend or distribution (as adjusted to appropriately reflect
any of the events referred to in other subsections of this Section ‎4
and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of
Class A ordinary shares issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units
in the Offering).

 

4.2.       Aggregation
of Shares. If after the date hereof, and subject to the provisions of Section ‎4.7
hereof, the number of outstanding Class A ordinary shares is decreased by a consolidation, combination, reverse share split or
reclassification of Class A ordinary shares or other similar event, then, on the effective date of such consolidation, combination,
reverse share split, reclassification or similar event, the number of Class A ordinary shares issuable on exercise of each Warrant
shall be decreased in proportion to such decrease in outstanding Class A ordinary shares.

 

4.3.       Adjustments
in Exercise Price. Whenever the number of Class A ordinary shares purchasable upon the exercise of the Warrants is adjusted,
as provided in subsection ‎4.1.1 or Section ‎4.2
above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment
by a fraction (x) the numerator of which shall be the number of Class A ordinary shares purchasable upon the exercise of the Warrants
immediately prior to such adjustment, and (y) the denominator of which shall be the number of Class A ordinary shares so purchasable
immediately thereafter. In addition, if (x) the Company issues additional Class A ordinary shares or equity-linked securities for
capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue
price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith
by the Board, and in the case of any such issuance to the Sponsor or its affiliates, without taking into account any founder shares
(as defined in the Prospectus) held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly
Issued Price”) and (y) the volume weighted average trading price of the

 

    9 

     

    

Company’s
ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates
the initial Business Combination (such price, the “Market Value”) is below $9.20 per share, the Warrant
Price will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price,
and the $10.00 and 18.00 per share redemption trigger prices described in Section 6.2 and Section 6.1 will be adjusted
(to the nearest cent) to be equal to 100% and 180%, respectively, of the higher of the Market Value and the Newly Issued Price.

 

4.4.       Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Class A ordinary
shares (other than a change under Section ‎4.1 or Section ‎4.2
hereof or that solely affects the par value of such Class A ordinary shares), or in the case of any merger or consolidation of
the Company with or into another entity or conversion of the Company as another entity (other than a consolidation or merger in
which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding
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 the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the holders of
the Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified
in the Warrants and in lieu of the Class A ordinary shares of the Company immediately theretofore purchasable and receivable upon
the exercise of the rights represented thereby, the kind and amount of shares or stock or other securities or property (including
cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such
sale or transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately
prior to such event (the “Alternative Issuance”); provided, however, that (i) if the holders
of the Class A ordinary shares were entitled to exercise a right of election as to the kind or amount of securities, cash or other
assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets constituting
the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be the weighted average of the kind
and amount received per share by the holders of the Class A ordinary shares in such consolidation or merger that affirmatively
make such election, and (ii) if a tender, exchange or redemption offer shall have been made to and accepted by the holders of the
Class A ordinary shares (other than a tender, exchange or redemption offer made by the Company in connection with redemption rights
held by shareholders of the Company as provided for in the Company’s amended and restated memorandum and articles of association
or as a result of the repurchase of Class A ordinary shares by the Company if a proposed initial Business Combination is presented
to the shareholders of the Company for approval) under circumstances in which, upon completion of such tender or exchange offer,
the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act (or any successor
rule)) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2
under the Exchange Act (or any successor rule)) and any members of any such group of which any such affiliate or associate is a
part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act (or any successor rule)) more than 50% of the outstanding
Class A ordinary shares, the holder of a Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of
cash, securities or other property to which such holder would actually have been entitled as a shareholder if such Warrant holder
had exercised the Warrant prior to the expiration of such

 

    10 

     

    

tender
or exchange offer, accepted such offer and all of the Class A ordinary shares held by such holder had been purchased pursuant
to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as
nearly equivalent as possible to the adjustments provided for in this Section ‎4;
provided further that if less than 70% of the consideration receivable by the holders of the Class A ordinary shares in
the applicable event is payable in the form of 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 properly exercises the Warrant within thirty (30) days following the public disclosure
of the consummation of such applicable event by the Company pursuant to a Current Report on Form 8-K filed with the Commission,
the Warrant Price shall be reduced by an amount (in dollars) equal to the difference of (i) the Warrant Price in effect prior
to such reduction minus (ii) (A) the Per Share Consideration (as defined below) (but in no event less than zero) minus (B) the
Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant Value” means the value of a Warrant immediately
prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg
Financial Markets (“Bloomberg”). For purposes of calculating such amount, (i) Section ‎6
of this Agreement shall be taken into account, (ii) the price of each Class A ordinary shares shall be the volume weighted
average price of the Class A ordinary shares as reported during the ten (10) trading day period ending on the trading day prior
to the effective date of the applicable event, (iii) the assumed volatility shall be the 90 day volatility obtained from the HVT
function on Bloomberg determined as of the trading day immediately prior to the day of the announcement of the applicable event
and (iv) the assumed risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the remaining term
of the Warrant. “Per Share Consideration” means (i) if the consideration paid to holders of the Class A ordinary shares
consists exclusively of cash, the amount of such cash per Class A ordinary shares, and (ii) in all other cases, the volume weighted
average price of the Class A ordinary shares as reported during the ten (10) trading day period ending on the trading day prior
to the effective date of the applicable event. If any reclassification or reorganization also results in a change in Class A ordinary
shares covered by subsection ‎4.1.1, then such adjustment shall be
made pursuant to subsection ‎4.1.1 or Sections ‎4.2,
‎4.3 and this Section ‎4.4.
The provisions of this Section ‎4.4 shall similarly apply to successive
reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the Warrant Price be
reduced to less than the par value per share issuable upon exercise of the Warrant.

 

4.5.       Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the issued and outstanding Class
A ordinary shares (other than a change under Section 4.1 or Section 4.2 hereof or that solely affects the par value
of such Class A ordinary shares), or in the case of any merger or consolidation of the Company with or into another corporation
(other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification
or reorganization of the 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 the Company as an entirety or substantially as an entirety in connection with which
the Company is dissolved, the holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis and
upon the terms and conditions specified in the Warrants and in lieu of the Class A ordinary shares of the Company immediately theretofore
purchasable and receivable upon the exercise of the rights

 

    11 

     

    

represented
thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the Warrants
would have received if such holder had exercised his, her or its Warrant(s) immediately prior to such event (the “Alternative
Issuance”); provided, however, that (i) if the holders of the Class A ordinary shares were entitled to exercise
a right of election as to the kind or amount of securities, cash or other assets receivable upon such consolidation or merger,
then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for which each Warrant shall
become exercisable shall be deemed to be the weighted average of the kind and amount received per share by the holders of the
Class A ordinary shares in such consolidation or merger that affirmatively make such election, and (ii) if a tender, exchange
or redemption offer shall have been made to and accepted by the holders of the Class A ordinary shares (other than a tender, exchange
or redemption offer made by the Company in connection with redemption rights held by shareholders of the Company as provided for
in the Company’s amended and restated memorandum and articles of association or as a result of the repurchase of Class A
ordinary shares by the Company if a proposed initial Business Combination is presented to the shareholders of the Company for
approval) under circumstances in which, upon completion of such tender or exchange offer, the maker thereof, together with members
of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) of which such maker is a part, and together with
any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act) and any members of any such
group of which any such affiliate or associate is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange
Act) more than 50% of the issued and outstanding Class A ordinary shares, the holder of a Warrant shall be entitled to receive
as the Alternative Issuance, the highest amount of cash, securities or other property to which such holder would actually have
been entitled as a shareholder if such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange
offer, accepted such offer and all of the Class A ordinary shares held by such holder had been purchased pursuant to such tender
or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent
as possible to the adjustments provided for in this Section 4; provided further that if less than 70% of the consideration
receivable by the holders of the Class A ordinary shares in the applicable event is payable in the form of 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 properly exercises the
Warrant within thirty (30) days following the public disclosure of the consummation of such applicable event by the Company pursuant
to a Current Report on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars) equal
to the difference of (i) the Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined
below) (but in no event less than zero) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes
Warrant Value” means the value of a Warrant immediately prior to the consummation of the applicable event based
on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets (assuming zero dividends) (“Bloomberg”).
For purposes of calculating such amount, (i) Section 6 of this Agreement shall be taken into account, (ii) the price of
each Class A ordinary share shall be the volume weighted average price of the Class A ordinary shares as reported during the ten
(10) trading day period ending on the trading day prior to the effective date of the applicable

 

    12 

     

    

event,
(iii) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading
day immediately prior to the day of the announcement of the applicable event and (iv) the assumed risk-free interest rate shall
correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per Share Consideration”
means (i) if the consideration paid to holders of the Class A ordinary shares consists exclusively of cash, the amount of such
cash per Class A ordinary share, and (ii) in all other cases, the volume weighted average price of the Class A ordinary shares
as reported during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event.
If any reclassification or reorganization also results in a change in Class A ordinary shares covered by subsection 4.1.1,
then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3, 4.4 and this
Section 4.5. The provisions of this Section 4.5 shall similarly apply to successive reclassifications, reorganizations,
mergers or consolidations, sales or other transfers. In no event will the Warrant Price be reduced to less than the par value
per share issuable upon exercise of such Warrant.

 

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

 

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

 

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

 

4.9.       Other
Events. In case any event shall occur affecting the Company as to which none of the provisions of the preceding subsections
of this Section ‎4 are strictly applicable, but which would require an adjustment
to the terms of the Warrants in order to (i) avoid an adverse impact on the Warrants and (ii) effectuate the intent and
purpose of this Section ‎4, then, in each such case, the Company shall
appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which

 

    13 

     

    

shall
give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the
intent and purpose of this Section ‎4 and, if they determine that
an adjustment is necessary, the terms of such adjustment; provided, however, that under no circumstances shall the
Warrants be adjusted pursuant to this Section ‎4.9 as a result of any issuance
of securities in connection with a Business Combination. The Company shall adjust the terms of the Warrants in a manner that is
consistent with any adjustment recommended in such opinion.

 

5.       Transfer
and Exchange of Warrants.

 

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

 

5.2.       Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for exchange or
transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered
Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that
in the event that a Warrant surrendered for transfer bears a restrictive legend (as in the case of the Private Placement Warrants),
the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange thereof until the Warrant Agent has received
an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also
bear a restrictive legend.

 

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

 

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

 

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

 

5.6.       Transfer
of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit
in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such
Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included
in such Unit. Notwithstanding the foregoing, the provisions of this Section ‎5.6
shall have no effect on any transfer of Warrants on and after the Detachment Date.

 

    14 

     

    

6.       Redemption.

 

6.1.       Redemption
of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00. Subject to Section ‎6.5
hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time while they are
exercisable and prior to their expiration, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants,
as described in Section 6.3 below, at the price of $0.01 per Warrant (the “Redemption Price”),
provided that the last sales price of the Class A ordinary shares reported has been at least $18.00 per share (subject to adjustment
in compliance with Section ‎4 hereof), on each of twenty (20) trading days
within the thirty (30) trading-day period ending on the third trading day prior to the date on which notice of the redemption is
given (“Reference Price”) and provided that there is an effective registration statement covering the Class A ordinary
shares issuable upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption
Period (as defined in Section ‎6.2 below).

 

6.2.       Redemption
of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $10.00. Subject to Section 6.5 hereof, not less
than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period, at
the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below,
at a Redemption Price of $0.10 per Warrant, provided that (i) the Reference Value equals or exceeds $10.00 per share (subject to
adjustment in compliance with Section 4 hereof) and (ii) if the Reference Value is less than $18.00 per share (subject to
adjustment in compliance with Section 4 hereof), the Private Placement Warrants are also concurrently called for redemption
on the same terms as the outstanding Public Warrants. During the 30-day Redemption Period in connection with a redemption pursuant
to this Section 6.2, Registered Holders of the Warrants may elect to exercise their Warrants on a “cashless basis”
pursuant to subsection 3.3.1 and receive a number of Class A ordinary shares determined by reference to the table below,
based on the Redemption Date (calculated for purposes of the table as the period to expiration of the Warrants) and the “Redemption
Fair Market Value” (as such term is defined in this Section 6.2) (a “Make-Whole Exercise”). Solely for
purposes of this Section 6.2, the “Redemption Fair Market Value” shall mean the volume weighted average price
of the Class A ordinary shares for the ten (10) trading days immediately following the date on which notice of redemption pursuant
to this Section 6.2 is sent to the Registered Holders. In connection with any redemption pursuant to this Section 6.2,
the Company shall provide the Registered Holders with the Redemption Fair Market Value no later than one (1) Business Day after
the ten (10) trading day period described above ends.

 

	Redemption Date

(period to expiration of warrants)	
        ≤$10.00 
	
        $11.00 
	
        $12.00 
	
        $13.00 
	
        $14.00 
	
        $15.00 
	
        $16.00 
	
        $17.00 
	
        ≥$18.00 

	60 months	0.261	0.281	0.297	0.311	0.324	0.337	0.348	0.358	0.361 
	57 months	0.257	0.277	0.294	0.310	0.324	0.337	0.348	0.358	0.361 
	54 months	0.252	0.272	0.291	0.307	0.322	0.335	0.347	0.357	0.361 
	51 months	0.246	0.268	0.287	0.304	0.320	0.333	0.346	0.357	0.361 
	48 months	0.241	0.263	0.283	0.301	0.317	0.332	0.344	0.356	0.361 

 

    15 

     

    

 

	Redemption Date

(period to expiration of warrants)	
        ≤$10.00 
	
        $11.00 
	
        $12.00 
	
        $13.00 
	
        $14.00 
	
        $15.00 
	
        $16.00 
	
        $17.00 
	
        ≥$18.00 

	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 Redemption Fair Market Value
and Redemption Date may not be set forth in the table above, in which case, if the Redemption 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 in a Make-Whole Exercise will be determined by a straight-line interpolation between the
number of shares set forth for the higher and lower Redemption Fair Market Values and the earlier and later redemption dates, as
applicable, based on a 365- or 366-day year, as applicable.

 

The share prices set forth in the column
headings of the table above shall be adjusted as of any date on which the number of shares issuable upon exercise of a Warrant
or the Warrant Price is adjusted pursuant to Section 4 hereof. In the event of a Warrant Price adjustment pursuant to Section
4.3, the adjusted share prices in the column headings shall equal the share prices immediately prior to such adjustment, multiplied
by a fraction, the numerator of which is the Warrant Price after such adjustment and the denominator of which is the Warrant Price
immediately after such adjustment. In such an event, the number of shares in the table above shall be adjusted by multiplying such
share amounts 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.
If the Warrant Price is adjusted pursuant to Section 4.4, the adjusted share prices set forth in the column headings of
the table above shall be multiplied by a fraction, the numerator of which is the higher of the Market Value and the Newly Issued
Price and the denominator of which is $10.00. In no event will the number of shares issued in connection with a Make-Whole Exercise
exceed 0.361 Class A ordinary shares per Warrant (subject to adjustment).

 

    16 

     

    

6.3.       Date
Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants pursuant to Section
‎6.1 or Section 6.2, the Company shall fix a date for the redemption
(the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by
the Company not less than thirty (30) days prior to the Redemption Date (the “30-day Redemption Period”)
to the Registered Holders of the Public Warrants to be redeemed at their last addresses as they shall appear on the registration
books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the
Registered Holder received such notice.

 

6.4.       Exercise
After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with
Section 6.2 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.3
hereof and prior to the Redemption Date. On and after the Redemption Date, the record holder of the Warrants shall have no further
rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

6.5.       Exclusion
of Private Placement Warrants. The Company agrees that (a) the redemption rights provided in Section 6.1 shall not apply
to the Private Placement Warrants if at the time of the redemption such Private Placement Warrants continue to be held by the Sponsor
or any of its Permitted Transferees and (b) if the Reference Value equals or exceeds $18.00 per share (subject to adjustment in
compliance with Section 4 hereof), the redemption rights provided in Section 6.2 shall not apply to the Private Placement
Warrants if at the time of redemption such Private Placement Warrants continue to be held by the Sponsor or any of its Permitted
Transferees. However, once such Private Placement Warrants are transferred (other than to Permitted Transferees under Section ‎2.6),
the Company may redeem the Private Placement Warrants pursuant to Section ‎6.1
or Section 6.2 hereof, provided that the criteria for redemption are met, including the opportunity of the holder of such
Private Placement Warrants to exercise the Private Placement Warrants prior to redemption pursuant to Section 6.4.
Private Placement Warrants that are transferred to persons other than Permitted Transferees shall upon such transfer cease to be
Private Placement Warrants and shall become Public Warrants under this Agreement, including for purposes of Section 9.8.

 

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

 

7.1.       No
Rights as Shareholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder of the
Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights
to vote or to consent or to receive notice as shareholders in respect of the meetings of shareholders or the election of directors
of the Company or any other matter.

 

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

 

    17 

     

    

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

 

7.4.       Registration
of Class A Ordinary Shares; Cashless Exercise at Company’s Option.

 

7.4.1.       Registration
of the Class A Ordinary Shares. The Company agrees that as soon as practicable, but in no event later than fifteen (15) Business
Days after the closing of its initial Business Combination, it shall use its commercially reasonable best efforts to file with
the Commission a registration statement covering the issuance, under the Securities Act, of the Class A ordinary shares issuable
upon exercise of the Warrants. The Company shall use its reasonable best efforts to cause the same to become effective within sixty
(60) Business Days after the closing of its initial Business Combination and to maintain the effectiveness of such registration
statement, and a current prospectus relating thereto, until the expiration or redemption of the Warrants in accordance with the
provisions of this Agreement. If any such registration statement has not been declared effective by the 60th Business Day following
the closing of the Business Combination, holders of the applicable Warrants shall have the right, during the period beginning on
the 61st Business Day after the closing of the Business Combination and ending upon such registration statement being declared
effective by the Commission, and during any other period when the Company shall fail to have maintained an effective registration
statement covering the Class A ordinary shares issuable upon exercise of the applicable Warrants, to exercise such Warrants on
a “cashless basis,” by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities Act (or any successor
rule) or another exemption) 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”
(as defined below) over the exercise price of the Warrants by (y) the Fair Market Value. Solely for purposes of this subsection ‎7.4.1,
“Fair Market Value” shall mean the volume weighted average price of the Class A ordinary shares as reported
during the ten (10) trading day period ending on the trading day prior to the date that notice of exercise is received by the Warrant
Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of “cashless exercise”
is received by the Warrant Agent shall be conclusively determined by the Warrant Agent. In connection with the “cashless
exercise” of a Public Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for
the Company (which shall be an outside law firm with securities law experience) stating that (i) the exercise of the Warrants on
a “cashless basis” in accordance with this subsection ‎7.4.1
is not required to be registered under the Securities Act and (ii) the Class A ordinary shares issued upon such exercise shall
be freely tradable under United States federal securities laws by anyone who is not an affiliate (as such term is defined in Rule
144 under the Securities Act (or any successor rule)) of the Company and, accordingly, shall not be required to bear a restrictive
legend. Except as provided in subsection ‎7.4.2, for the avoidance of any
doubt, unless and until all of the Warrants have been exercised or have expired, the Company shall continue to be obligated to
comply with its registration obligations under the first three sentences of this subsection ‎7.4.1.

 

    18 

     

    

7.4.2.       Cashless
Exercise at Company’s Option. If the 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 (or any successor rule), the Company may, at its option, (i) require holders of Public Warrants who exercise
Public Warrants to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities
Act (or any successor rule) as described in subsection ‎7.4.1 and (ii)
in the event the Company so elects, the Company shall not be required to file or maintain in effect a registration statement for
the registration, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the Warrants, notwithstanding
anything in this Agreement to the contrary. If the Company does not elect at the time of exercise to require a holder of Public
Warrants who exercises Public Warrants to exercise such Public Warrants on a “cashless basis,” it agrees to use its
reasonable best efforts to register or qualify for sale the Class A ordinary shares issuable upon exercise of the Public Warrant
under the blue sky laws of the state of residence in those states in which the Public Warrants were initially offered by the Company
of the exercising Public Warrant holder to the extent an exemption is not available.

 

8.       Concerning
the Warrant Agent and Other Matters.

 

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

 

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

 

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

 

    19 

     

    

appropriate,
the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor
Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor
Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and
effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties,
and obligations.

 

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

 

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

 

8.3.       Fees
and Expenses of Warrant Agent.

 

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

 

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

 

8.4.       Liability
of Warrant Agent.

 

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

 

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

 

    20 

     

    

8.4.3.       Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or
execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by the
Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible
to make any adjustments required under the provisions of Section ‎4 hereof
or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would
require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization
or reservation of any Class A ordinary shares to be issued pursuant to this Agreement or any Warrant or as to whether any Class
A ordinary shares shall, when issued, be valid and fully paid and non-assessable.

 

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

 

8.6.       Waiver.
The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and Continental Stock Transfer & Trust Company as trustee thereunder) and hereby
agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.
The Warrant Agent hereby waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust
Account.

 

9.       Miscellaneous
Provisions.

 

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

 

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

 

Primavera Capital Acquisition Corporation

41/F Gloucester Tower, 15 Queen’s Road Central, Hong Kong

Attention: Tong Chen, Chief Executive Officer

 

With a copy to:

 

Davis Polk & Wardwell LLP

 

    21 

     

    

450 Lexington Avenue

New York, NY 10017

Attention: Derek Dostal

 

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

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, New York 10004

Attention: Compliance Department

 

9.3.       Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects
by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application
of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising
out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United
States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall
be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum.

 

9.4.       Persons
Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any person or
corporation other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under or by reason
of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations,
promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and their
successors and assigns and of the Registered Holders of the Warrants.

 

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

 

9.6.       Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together
shall constitute one instrument. Delivery of this Agreement by one party to the other may be made by facsimile, electronic mail
(including any electronic signature complying with the New York Electronic Signatures and Records Act (N.Y. State Tech. §§
301-309), as amended from time to time, or other applicable law) or other transmission method, and the parties hereto agree that
any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

    22 

     

    

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

 

9.8.       Amendments.
This Agreement may be amended by the parties hereto without the consent of any Registered Holder for the purpose of curing any
ambiguity, or curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions
with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties
deem shall not adversely affect the interest of the Registered Holders. All other modifications or amendments, including any amendment
to increase the Warrant Price or shorten the Exercise Period and any amendment to the terms of only the Private Placement Warrants,
shall require the vote or written consent of the Registered Holders of 65% of the then outstanding Public Warrants. Notwithstanding
the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections ‎3.1
and ‎3.2, respectively, without the consent of the Registered Holders.

 

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

 

Exhibit A Form of Warrant Certificate

Exhibit B Legend

 

[Signature Page Follows]

 

    23 

     

    

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

 

	 	PRIMAVERA CAPITAL ACQUISITION CORPORATION
	 	 
	 	 
	 	By:	/s/ Tong Chen
	 	 	Name:Tong Chen
	 	 	Title:Chief Executive Officer

 

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
	 	 
	 	 
	 	By:	/s/ Steven Vacante
	 	 	Name:Steven Vacante
	 	 	Title:Vice President

 

 

[Signature Page - Warrant Agreement]

 

     

     

    

EXHIBIT A

 

 

[Form
of Warrant Certificate]

 

[FACE]

 

Number

 

WARRANTS

THIS WARRANT SHALL BE VOID IF NOT EXERCISED PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED BELOW

PRIMAVERA CAPITAL ACQUISITION CORPORATION

Incorporated Under the Laws of the Cayman Islands

 

CUSIP G7255E 117

 

Warrant Certificate

 

This Warrant Certificate certifies that , or registered
assigns, is the registered holder of warrant(s) evidenced hereby (the “Warrants” and each, a “Warrant”)
to purchase Class A ordinary shares, $0.0001 par value (“Class A ordinary shares”), of Primavera Capital
Acquisition Corporation, a Cayman Islands exempted company (the “Company”). Each Warrant entitles the
holder, upon exercise during the period set forth in the Warrant Agreement referred to below, to receive from the Company that
number of fully paid and non-assessable Class A ordinary shares as set forth below, at the exercise price (the “Exercise
Price”) as determined pursuant to the Warrant Agreement, payable in lawful money (or through “cashless
exercise” as provided for in the Warrant Agreement) of the United States of America upon surrender of this Warrant
Certificate and payment of the Exercise Price at the office or agency of the Warrant Agent referred to below, subject to the conditions
set forth herein and in the Warrant Agreement. Defined terms used in this Warrant Certificate but not defined herein shall have
the meanings given to them in the Warrant Agreement.

 

Each whole Warrant is initially exercisable for one fully paid
and non-assessable Class A ordinary share. No fractional shares will be issued upon exercise of any Warrant. If, upon the exercise
of Warrants, a holder would be entitled to receive a fractional interest in a Class A ordinary share, the Company will, upon exercise,
round down to the nearest whole number the number of Class A ordinary shares to be issued to the Warrant holder. The number of
Class A ordinary shares issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events as
set forth in the Warrant Agreement.

 

The initial Exercise Price per one Class A ordinary share for
any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment upon the occurrence of certain events as
set forth in the Warrant Agreement.

 

Subject to the conditions set forth in the Warrant Agreement,
the Warrants may be exercised only during the Exercise Period and to the extent not exercised by the end of such Exercise Period,
such Warrants shall become void.

 

Reference is hereby made to the further provisions of this Warrant
Certificate set forth on the reverse hereof and such further provisions shall for all purposes have the same effect as though fully
set forth at this place.

 

     

     

    

This Warrant Certificate shall not be valid unless countersigned
by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This Warrant Certificate shall be governed by and construed
in accordance with the internal laws of the State of New York.

 

	PRIMAVERA CAPITAL ACQUISITION CORPORATION
	 
	 
	By:	 
	 	Name:	 
	 	Title:	 

   

 

 

	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, AS WARRANT AGENT
	 
	 
	By:	 
	 	Name:	 
	 	Title:	 

   

	 

 

     

     

    

[Form
of Warrant Certificate]

 

[Reverse]

 

The Warrants evidenced by this Warrant Certificate are part
of a duly authorized issue of Warrants entitling the holder on exercise to receive Class A ordinary shares and are issued or to
be issued pursuant to a Warrant Agreement dated as of January 21, 2021 (the “Warrant Agreement”), duly
executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent
(the “Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part
of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities
thereunder of the Warrant Agent, the Company and the holders (the words “holders” or “holder”
meaning the Registered Holders or Registered Holder, respectively) of the Warrants. A copy of the Warrant Agreement may be obtained
by the holder hereof upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein
shall have the meanings given to them in the Warrant Agreement.

 

Warrants may be exercised at any time during the Exercise Period
set forth in the Warrant Agreement. The holder of Warrants evidenced by this Warrant Certificate may exercise them by surrendering
this Warrant Certificate, with the form of Election to Purchase set forth hereon properly completed and executed, together with
payment of the Exercise Price as specified in the Warrant Agreement (or through “cashless exercise” as
provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any
exercise of Warrants evidenced hereby the number of Warrants exercised shall be less than the total number of Warrants evidenced
hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number
of Warrants not exercised.

 

Notwithstanding anything else in this Warrant Certificate or
the Warrant Agreement, no Warrant may be exercised unless at the time of exercise (i) a registration statement covering the issuance
of the Class A ordinary shares to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder
relating to the Class A ordinary shares is current, except through “cashless exercise” as provided for
in the Warrant Agreement.

 

The Warrant Agreement provides that upon the occurrence of certain
events the number of Class A ordinary shares issuable upon exercise of the Warrants set forth on the face hereof may, subject to
certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive a fractional interest
in a Class A ordinary share, the Company shall, upon exercise, round down to the nearest whole number of Class A ordinary shares
to be issued to the holder of the Warrant.

 

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

 

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

 

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

 

     

     

    

Election
to Purchase

 

(To
Be Executed Upon Exercise of Warrant)

 

The undersigned hereby irrevocably elects to exercise the right,
represented by this Warrant Certificate, to receive Class A ordinary shares and herewith tenders payment for such Class A ordinary
shares to the order of Primavera Capital Acquisition Corporation (the “Company”) in the amount of $in
accordance with the terms hereof. The undersigned requests that a certificate for such Class A ordinary shares be registered in
the name of , whose address is  and that such Class A ordinary shares be delivered to  whose address is . If said
number of Class A ordinary shares is less than all of the Class A ordinary shares purchasable hereunder, the undersigned requests
that a new Warrant Certificate representing the remaining balance of such Class A ordinary shares be registered in the name of
, whose address is and that such Warrant Certificate be delivered to , whose address is .

 

In the event that the Warrant is a Private Placement Warrant
that is to be exercised on a “cashless” basis pursuant to the Warrant Agreement, the number of Class A ordinary shares
that this Warrant is exercisable for shall be determined in accordance with the Warrant Agreement.

 

In the event that the Warrant may be exercised, to the extent
allowed by the Warrant Agreement, through cashless exercise (i) the number of Class A ordinary shares that this Warrant is exercisable
for would be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless exercise
and (ii) the holder hereof shall complete the following: The undersigned hereby irrevocably elects to exercise the right, represented
by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive Class A ordinary shares.
If said number of shares is less than all of the Class A ordinary shares purchasable hereunder (after giving effect to the cashless
exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such Class A ordinary
shares be registered in the name of, whose address is  and that such Warrant Certificate be delivered to , whose address
is .

 

[Signature Page Follows]

     

     

    

Date: , 20

 

	 
	 
	 
	(Signature)
	 
	 
	 
	 
	(Address)
	 
	 
	

	(Tax Identification Number)

	 
	Signature Guaranteed:
	 
	 
	 

 

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 (OR ANY SUCCESSOR RULE) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).

 

EXHIBIT A

     

     

    

EXHIBIT B

 

LEGEND

 

“THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD,
TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES
LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN
THE LETTER AGREEMENT BY AND AMONG PRIMAVERA CAPITAL ACQUISITION CORPORATION (THE “COMPANY”), PRIMAVERA CAPITAL ACQUISITION
LLC AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED HEREBY MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY
(30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION ‎3
OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT)
WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

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

 

NO.              WARRANT

 

 

EXHIBIT B

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