Document:

Exhibit 10.1

 

SECOND
AMENDMENT TO THE LEASE AGREEMENT

 

THIS
SECOND AMENDMENT TO LEASE AGREEMENT (this “Amendment”) is made and entered into as of March 21, 2022 (the “Effective
Date”) by and between PW ME CanRe SD LLC, a Maine limited liability company (“Landlord”), and NorthEast Kind Assets
LLC, a Maine limited liability company (“Tenant”).

 

RECITALS:

 

  A. Landlord and Tenant are parties to the Lease Agreement dated May 15, 2020 (the “Original Lease”), pursuant to which Tenant leases from Landlord the land and all improvements thereon located at 495 Harold L Dow Hwy., Eliot, ME 03903 as more particularly described in the Original Lease (the “Premises”).

     

  B. Landlord and Tenant are parties to the Lease Amendment dated September 17, 2020 (the “First Amendment”), pursuant to which Landlord exercised its option to purchase another certain, adjacent parcel of land being located at 505 Harold L Dow Hwy. ME 03903 as more described in the First Amendment (the “Additional Parcel”)

     

  C. Landlord and Tenant desire to amend the Original Lease to add additional items to the property improvement budget (“the Additional Items”) for the construction of a Natural Gas CHP / Absorption Chiller to be located at the Additional Parcel and to make corresponding changes to the Original Lease and to update certain other terms and conditions under the Original Lease, as amended, as described herein. The Additional Items are described on Exhibit 1- Second Amendment, attached hereto.

 

AGREEMENT:

 

THEREFORE,
in consideration of the mutual covenants set forth herein, the Original Lease is hereby amended on the terms and conditions hereinafter
set forth.

 

1. Initially capitalized terms not otherwise defined herein will have the meanings given to such terms in the Original Lease.

 

2. The definition of “Base Rent” in the Original Lease is amended to include the column entitled “Monthly Rent” on the Rent Schedule attached as Exhibit 2 – Second Amendment, which will be in addition to the Monthly Rent on the Rent Schedule attached to the First Amendment as Exhibit 3 – First Amendment, and the Monthly Rent on the Rent Schedule attached to the Original Lease as Exhibit 2. In the event of the federal legalization of the recreations use of cannabis in the United States, the Base Rent attributable to the Additional Items will be the amount listed in the column entitled “Rent if Reset’ in the Rent Scheduled attached as Exhibit 2 – Second Amendment.

 

    	1

     

    

 

 

3.
Competitor First Right of Refusal. If, during the Term, Landlord receives from a third-party or affiliate that is in direct
competition with Tenant, a bona fide offer to purchase or otherwise transfer the Property, before Landlord may accept such an offer,
Landlord must first give written notice to Tenant of said offer. Tenant shall have thirty (30) days from the date of receipt of said
offer, to provide Landlord with a binding agreement to acquire the Property upon the same terms and conditions as set forth therein.
Tenant may elect to assign Tenant’s rights to purchase the Leased Premises to the parent of the Tenant, a subsidiary of the Tenant,
or other entity wholly owned by Tenant or its parent. If Tenant fails to enter into a binding agreement to acquire the Property as described
above, Landlord may proceed to sell to said third party or affiliate in accordance with the terms of the original offer.

 

		4.	Section
                                            9.3 of the Original Lease is amended as follows:

 

The
Tenant Parties shall provide Landlord with: (A) certified financial statements by an authorized officer of each Tenant Party regarding
the Tenant Parties’ operations at the Premises, including standard profit and loss statements, actual sales vs. projected sales,
an income statement and balance sheet, all of which show that the Tenant Parties have the financial wherewithal to meet its obligations
as they are due within twenty (20) days after the end of each calendar month, (B) certified financials from an authorized officer or
by a third party accounting firm reasonably acceptable to Landlord, to be delivered within 90 days of the end of each calendar year during
the Term, and (C) a personal tax return for each of the Guarantors within 30 days after April 15th of each Lease Year. The Tenant Parties
that are entities hereby agree not to make any distributions to owners/investors of the Tenant Parties until such time as the Tenant
Parties have achieved cash flow sufficient to establish a cash reserve equal to next six (6) months of Rent due under the Lease totaling
(the “Working Capital Reserve”). Once the Tenant Parties have established the Working Capital Reserve in the Tenant Parties’
bank account (as certified to Landlord monthly), the Tenant Parties may distribute excess cash flow earned thereafter to its owners/investors
in accordance with its Operating Agreement. In addition to and not by way of limitation of the foregoing, the Tenant Patties covenants
and agrees that during the Term of this Lease, (i) the salaries for ce1tain owners/officers of the Tenant Patties shall be as set forth
on the attached Exhibit 4, all of which will be annually certified as such by an authorized officer of each Tenant Patty on or before
January 15th of each Lease year during the Term and (ii) absolutely no additional salary shall be paid to the identified owners/officers
of any Tenant Party other than as set forth on Exhibit 4 until and after the Working Capital Reserve has been established and so long
as it is maintained, and (iii) absolutely no distributions will be made to owners/ investors in a Tenant Party unless and until the Working
Reserve amount has been achieved and is being maintained in Tenant’s bank account. During the Term hereof, Landlord, shall have
full rights to inspect the books and records of each Tenant Party on reasonable notice, subject to Tenant’s Access Requirements
if such books and records are kept on the Premises, and during normal business hours and to have an audit of such books and records done
at its own expense to confirm the accuracy and completeness thereof; provided, such audit is performed in connection with all Applicable
Laws, including but not limited to, the Marijuana Act. Landlord and Tenant acknowledge and agree that Landlord is not intended to, nor
will it actually have, any control over Tenant’s business located at the Premises or elsewhere rather it is intended to support
the viability of Tenant and its ability to meet its financial obligations. This Lease is not intended to enable Landlord to become a
“Controlling Beneficial Owner” or “Passive Beneficial Owner” whatsoever in Tenant as such terms are defined under
the Marijuana Act.

 

    	2

     

    

 

5.
Exhibit 4 from the Original Lease which is referenced in Section 9.3 is hereby amended to reflect the exhibit attached hereto referred
to as Exhibit 4 – Second Amendment.

  

6. Section 11.1 of the Original Lease, as amended, is amended to require that the Security Deposit shall be increased by $230,000 of which the Tenant shall deposit $115,000 on the Effective Date and an additional $115,000, by November 30, 2022 to fund the increased Security Deposit.

   

7. This Amendment sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof.

  

8. Except as specifically amended, modified, or supplemented herein, the Original Lease, as amended hereby, is hereby confirmed, and ratified in all respects and will remain in full force and effect according to its terms. In the event of any conflict or inconsistency between the provisions of the Original Lease and this Amendment, the provisions of this Amendment will control in all instances.

 

9. This Amendment may be executed in several counterparts, each of which will be deemed an original, and all of such counterparts together will constitute one and the same instrument. Executed copies hereof may be delivered by telecopy or electronic delivery, and upon receipt, will be deemed originals and binding upon the parties hereto.

 

10. Each party represents and warrants that, as of the date of this Amendment it has the unconditional and unrestricted right, power, and authority to enter into this Amendment.

 

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

 

	TENANT:	 
	 	 	 
	NorthEast
    Kind Assets LLC,	 
	a
    Maine limited liability company	 
	 	 
	By:	 
	Name: 	James
    F. Henry	 
	Title:	Authorized
    Signatory	 
	 	 	 
	LANDLORD:	 
	 	 	 
	PW
    ME CanRe SD LLC,	 
	a
    Maine limited liability company	 
	 	 	 
	By:
    	 
	Name:	David
    H. Lesser	 
	Title:	Authorized
    Signatory	 

 

    	3

     

    

 

 

JOINDER
OF GUARANTOR

 

The
Guarantor of the Original Lease join herein for the purposes of evidencing their consent to this Amendment, and agreement to be bound
all obligations of the Tenant Parties under the Original Lease as amended by this Amendment. The obligations of the Tenant Parties herein
shall be joint and several.

 

NorthEast
Kind Assets LLC, a Maine limited liability company

 

	By: 	 	 
	Name: 
    	James
    F. Henry	 
	Title:
    	Authorized
    Signatory	 

    	4

     

    

 

Exhibit
1 – Second Amendment

 

	Natural Gas CHP / Absorption Chiller Budget:	 	 	 	 
	 	 	Sitework	 	 	50,000	 
	 	 	Concrete	 	 	20,000	 
	 	 	Electrical	 	 	450,000	 
	 	 	Mechanical/Plumbing	 	 	660,000	 
	 	 	Absorption Chillers*	 	 	850,000	 
	 	 	Pre-packaged Cogeneration System*	 	 	1,125,000	 
	 	 	Breaker Panel/Switchgear*	 	 	90,000	 
	 	 	Maintenance Kit	 	 	60,000	 
	 	 	Engineering Development	 	 	28,000	 
	 	 	 	 	 	 	 
	 	 	Contingency/Development Fee	 	 	175,000	 
	 	 	 	 	 	 	 
	Total	 	Power REIT Funded Construction Costs	 	 	3,508,000	 
	 	 	 	 	 	 	 
	 	 	*Provided by IntelliGen Power Systems (See Proposal)	 	 	 	 

 

    	5

     

    

 

Exhibit
2 – Second Amendment

 

	Month	 	Date	 	Monthly Rent	 	 	Monthly Rent if Reset
	1	 	1-Mar-22	 	-	 	 	NA
	2	 	1-Apr-22	 	-	 	 	NA
	3	 	1-May-22	 	-	 	 	NA
	4	 	1-Jun-22	 	-	 	 	NA
	5	 	1-Jul-22	 	-	 	 	NA
	6	 	1-Aug-22	 	-	 	 	NA
	7	 	1-Sep-22	 	48,722.22	 	 	NA
	8	 	1-Oct-22	 	48,722.22	 	 	NA
	9	 	1-Nov-22	 	48,722.22	 	 	NA
	10	 	1-Dec-22	 	48,722.22	 	 	NA
	11	 	1-Jan-23	 	48,722.22	 	 	NA
	12	 	1-Feb-23	 	48,722.22	 	 	NA
	13	 	1-Mar-23	 	97,444.44	 	 	NA
	14	 	1-Apr-23	 	97,444.44	 	 	NA
	15	 	1-May-23	 	97,444.44	 	 	NA
	16	 	1-Jun-23	 	97,444.44	 	 	NA
	17	 	1-Jul-23	 	97,444.44	 	 	NA
	18	 	1-Aug-23	 	97,444.44	 	 	NA
	19	 	1-Sep-23	 	97,444.44	 	 	NA
	20	 	1-Oct-23	 	97,444.44	 	 	NA
	21	 	1-Nov-23	 	97,444.44	 	 	NA
	22	 	1-Dec-23	 	97,444.44	 	 	NA
	23	 	1-Jan-24	 	97,444.44	 	 	NA
	24	 	1-Feb-24	 	97,444.44	 	 	NA
	25	 	1-Mar-24	 	97,444.44	 	 	NA
	26	 	1-Apr-24	 	97,444.44	 	 	NA
	27	 	1-May-24	 	97,444.44	 	 	NA
	28	 	1-Jun-24	 	97,444.44	 	 	NA
	29	 	1-Jul-24	 	97,444.44	 	 	NA
	30	 	1-Aug-24	 	97,444.44	 	 	NA
	31	 	1-Sep-24	 	97,444.44	 	 	NA
	32	 	1-Oct-24	 	97,444.44	 	 	NA
	33	 	1-Nov-24	 	97,444.44	 	 	NA
	34	 	1-Dec-24	 	97,444.44	 	 	NA
	35	 	1-Jan-25	 	97,444.44	 	 	NA
	36	 	1-Feb-25	 	97,444.44	 	 	NA

 

    	6

     

    

 

	37	 	1-Mar-25	 	146,166.67	 	 	NA
	38	 	1-Apr-25	 	146,166.67	 	 	NA
	39	 	1-May-25	 	146,166.67	 	 	NA
	40	 	1-Jun-25	 	146,166.67	 	 	NA
	41	 	1-Jul-25	 	146,166.67	 	 	NA
	42	 	1-Aug-25	 	146,166.67	 	 	NA
	43	 	1-Sep-25	 	38,558.77	 	 	NA
	44	 	1-Oct-25	 	38,558.77	 	 	NA
	45	 	1-Nov-25	 	38,558.77	 	 	NA
	46	 	1-Dec-25	 	38,558.77	 	 	NA
	47	 	1-Jan-26	 	38,558.77	 	 	NA
	48	 	1-Feb-26	 	38,558.77	 	 	NA
	49	 	1-Mar-26	 	38,558.77	 	 	NA
	50	 	1-Apr-26	 	38,558.77	 	 	NA
	51	 	1-May-26	 	38,558.77	 	 	NA
	52	 	1-Jun-26	 	38,558.77	 	 	NA
	53	 	1-Jul-26	 	38,558.77	 	 	NA
	54	 	1-Aug-26	 	38,558.77	 	 	NA
	55	 	1-Sep-26	 	39,715.53	 	 	NA
	56	 	1-Oct-26	 	39,715.53	 	 	NA
	57	 	1-Nov-26	 	39,715.53	 	 	NA
	58	 	1-Dec-26	 	39,715.53	 	 	NA
	59	 	1-Jan-27	 	39,715.53	 	 	NA
	60	 	1-Feb-27	 	39,715.53	 	 	NA
	61	 	1-Mar-27	 	39,715.53	 	 	NA
	62	 	1-Apr-27	 	39,715.53	 	 	NA
	63	 	1-May-27	 	39,715.53	 	 	NA
	64	 	1-Jun-27	 	39,715.53	 	 	NA
	65	 	1-Jul-27	 	39,715.53	 	 	NA
	66	 	1-Aug-27	 	39,715.53	 	 	NA
	67	 	1-Sep-27	 	40,907.00	 	 	NA
	68	 	1-Oct-27	 	40,907.00	 	 	NA
	69	 	1-Nov-27	 	40,907.00	 	 	NA
	70	 	1-Dec-27	 	40,907.00	 	 	NA
	71	 	1-Jan-28	 	40,907.00	 	 	NA
	72	 	1-Feb-28	 	40,907.00	 	 	NA
	73	 	1-Mar-28	 	40,907.00	 	 	26,310.00
	74	 	1-Apr-28	 	40,907.00	 	 	26,310.00
	75	 	1-May-28	 	40,907.00	 	 	26,310.00

 

    	7

     

    

 

 

	76	 	1-Jun-28	 	40,907.00	 	 	26,310.00
	77	 	1-Jul-28	 	40,907.00	 	 	26,310.00
	78	 	1-Aug-28	 	40,907.00	 	 	26,310.00
	79	 	1-Sep-28	 	42,134.21	 	 	26,310.00
	80	 	1-Oct-28	 	42,134.21	 	 	26,310.00
	81	 	1-Nov-28	 	42,134.21	 	 	26,310.00
	82	 	1-Dec-28	 	42,134.21	 	 	26,310.00
	83	 	1-Jan-29	 	42,134.21	 	 	26,310.00
	84	 	1-Feb-29	 	42,134.21	 	 	26,310.00
	85	 	1-Mar-29	 	42,134.21	 	 	27,099.30
	86	 	1-Apr-29	 	42,134.21	 	 	27,099.30
	87	 	1-May-29	 	42,134.21	 	 	27,099.30
	88	 	1-Jun-29	 	42,134.21	 	 	27,099.30
	89	 	1-Jul-29	 	42,134.21	 	 	27,099.30
	90	 	1-Aug-29	 	42,134.21	 	 	27,099.30
	91	 	1-Sep-29	 	43,398.23	 	 	27,099.30
	92	 	1-Oct-29	 	43,398.23	 	 	27,099.30
	93	 	1-Nov-29	 	43,398.23	 	 	27,099.30
	94	 	1-Dec-29	 	43,398.23	 	 	27,099.30
	95	 	1-Jan-30	 	43,398.23	 	 	27,099.30
	96	 	1-Feb-30	 	43,398.23	 	 	27,099.30
	97	 	1-Mar-30	 	43,398.23	 	 	27,912.28
	98	 	1-Apr-30	 	43,398.23	 	 	27,912.28
	99	 	1-May-30	 	43,398.23	 	 	27,912.28
	100	 	1-Jun-30	 	43,398.23	 	 	27,912.28
	101	 	1-Jul-30	 	43,398.23	 	 	27,912.28
	102	 	1-Aug-30	 	43,398.23	 	 	27,912.28
	103	 	1-Sep-30	 	44,700.18	 	 	27,912.28
	104	 	1-Oct-30	 	44,700.18	 	 	27,912.28
	105	 	1-Nov-30	 	44,700.18	 	 	27,912.28
	106	 	1-Dec-30	 	44,700.18	 	 	27,912.28
	107	 	1-Jan-31	 	44,700.18	 	 	27,912.28
	108	 	1-Feb-31	 	44,700.18	 	 	27,912.28
	109	 	1-Mar-31	 	44,700.18	 	 	28,749.65
	110	 	1-Apr-31	 	44,700.18	 	 	28,749.65
	111	 	1-May-31	 	44,700.18	 	 	28,749.65
	112	 	1-Jun-31	 	44,700.18	 	 	28,749.65
	113	 	1-Jul-31	 	44,700.18	 	 	28,749.65
	114	 	1-Aug-31	 	44,700.18	 	 	28,749.65

 

    	8

     

    

 

	115	 	1-Sep-31	 	46,041.18	 	 	28,749.65
	116	 	1-Oct-31	 	46,041.18	 	 	28,749.65
	117	 	1-Nov-31	 	46,041.18	 	 	28,749.65
	118	 	1-Dec-31	 	46,041.18	 	 	28,749.65
	119	 	1-Jan-32	 	46,041.18	 	 	28,749.65
	120	 	1-Feb-32	 	46,041.18	 	 	28,749.65
	121	 	1-Mar-32	 	46,041.18	 	 	29,612.14
	122	 	1-Apr-32	 	46,041.18	 	 	29,612.14
	123	 	1-May-32	 	46,041.18	 	 	29,612.14
	124	 	1-Jun-32	 	46,041.18	 	 	29,612.14
	125	 	1-Jul-32	 	46,041.18	 	 	29,612.14
	126	 	1-Aug-32	 	46,041.18	 	 	29,612.14
	127	 	1-Sep-32	 	47,422.42	 	 	29,612.14
	128	 	1-Oct-32	 	47,422.42	 	 	29,612.14
	129	 	1-Nov-32	 	47,422.42	 	 	29,612.14
	130	 	1-Dec-32	 	47,422.42	 	 	29,612.14
	131	 	1-Jan-33	 	47,422.42	 	 	29,612.14
	132	 	1-Feb-33	 	47,422.42	 	 	29,612.14
	133	 	1-Mar-33	 	47,422.42	 	 	30,500.50
	134	 	1-Apr-33	 	47,422.42	 	 	30,500.50
	135	 	1-May-33	 	47,422.42	 	 	30,500.50
	136	 	1-Jun-33	 	47,422.42	 	 	30,500.50
	137	 	1-Jul-33	 	47,422.42	 	 	30,500.50
	138	 	1-Aug-33	 	47,422.42	 	 	30,500.50
	139	 	1-Sep-33	 	48,845.09	 	 	30,500.50
	140	 	1-Oct-33	 	48,845.09	 	 	30,500.50
	141	 	1-Nov-33	 	48,845.09	 	 	30,500.50
	142	 	1-Dec-33	 	48,845.09	 	 	30,500.50
	143	 	1-Jan-34	 	48,845.09	 	 	30,500.50
	144	 	1-Feb-34	 	48,845.09	 	 	30,500.50
	145	 	1-Mar-34	 	48,845.09	 	 	31,415.52
	146	 	1-Apr-34	 	48,845.09	 	 	31,415.52
	147	 	1-May-34	 	48,845.09	 	 	31,415.52
	148	 	1-Jun-34	 	48,845.09	 	 	31,415.52
	149	 	1-Jul-34	 	48,845.09	 	 	31,415.52
	150	 	1-Aug-34	 	48,845.09	 	 	31,415.52
	151	 	1-Sep-34	 	50,310.44	 	 	31,415.52
	152	 	1-Oct-34	 	50,310.44	 	 	31,415.52
	153	 	1-Nov-34	 	50,310.44	 	 	31,415.52

 

    	9

     

    

 

	154	 	1-Dec-34	 	50,310.44	 	31,415.52
	155	 	1-Jan-35	 	50,310.44	 	31,415.52
	156	 	1-Feb-35	 	50,310.44	 	31,415.52
	157	 	1-Mar-35	 	50,310.44	 	32,357.98
	158	 	1-Apr-35	 	50,310.44	 	32,357.98
	159	 	1-May-35	 	50,310.44	 	32,357.98
	160	 	1-Jun-35	 	50,310.44	 	32,357.98
	161	 	1-Jul-35	 	50,310.44	 	32,357.98
	162	 	1-Aug-35	 	50,310.44	 	32,357.98
	163	 	1-Sep-35	 	51,819.76	 	32,357.98
	164	 	1-Oct-35	 	51,819.76	 	32,357.98
	165	 	1-Nov-35	 	51,819.76	 	32,357.98
	166	 	1-Dec-35	 	51,819.76	 	32,357.98
	167	 	1-Jan-36	 	51,819.76	 	32,357.98
	168	 	1-Feb-36	 	51,819.76	 	32,357.98
	169	 	1-Mar-36	 	51,819.76	 	33,328.72
	170	 	1-Apr-36	 	51,819.76	 	33,328.72
	171	 	1-May-36	 	51,819.76	 	33,328.72
	172	 	1-Jun-36	 	51,819.76	 	33,328.72
	173	 	1-Jul-36	 	51,819.76	 	33,328.72
	174	 	1-Aug-36	 	51,819.76	 	33,328.72
	175	 	1-Sep-36	 	53,374.35	 	33,328.72
	176	 	1-Oct-36	 	53,374.35	 	33,328.72
	177	 	1-Nov-36	 	53,374.35	 	33,328.72
	178	 	1-Dec-36	 	53,374.35	 	33,328.72
	179	 	1-Jan-37	 	53,374.35	 	33,328.72
	180	 	1-Feb-37	 	53,374.35	 	33,328.72
	181	 	1-Mar-37	 	53,374.35	 	34,328.58
	182	 	1-Apr-37	 	53,374.35	 	34,328.58
	183	 	1-May-37	 	53,374.35	 	34,328.58
	184	 	1-Jun-37	 	53,374.35	 	34,328.58
	185	 	1-Jul-37	 	53,374.35	 	34,328.58
	186	 	1-Aug-37	 	53,374.35	 	34,328.58
	187	 	1-Sep-37	 	54,975.58	 	34,328.58
	188	 	1-Oct-37	 	54,975.58	 	34,328.58
	189	 	1-Nov-37	 	54,975.58	 	34,328.58
	190	 	1-Dec-37	 	54,975.58	 	34,328.58
	191	 	1-Jan-38	 	54,975.58	 	34,328.58
	192	 	1-Feb-38	 	54,975.58	 	34,328.58

 

    	10

     

    

 

	193	 	1-Mar-38	 	54,975.58	 	35,358.44
	194	 	1-Apr-38	 	54,975.58	 	35,358.44
	195	 	1-May-38	 	54,975.58	 	35,358.44
	196	 	1-Jun-38	 	54,975.58	 	35,358.44
	197	 	1-Jul-38	 	54,975.58	 	35,358.44
	198	 	1-Aug-38	 	54,975.58	 	35,358.44
	199	 	1-Sep-38	 	56,624.85	 	35,358.44
	200	 	1-Oct-38	 	56,624.85	 	35,358.44
	201	 	1-Nov-38	 	56,624.85	 	35,358.44
	202	 	1-Dec-38	 	56,624.85	 	35,358.44
	203	 	1-Jan-39	 	56,624.85	 	35,358.44
	204	 	1-Feb-39	 	56,624.85	 	35,358.44
	205	 	1-Mar-39	 	56,624.85	 	36,419.19
	206	 	1-Apr-39	 	56,624.85	 	36,419.19
	207	 	1-May-39	 	56,624.85	 	36,419.19
	208	 	1-Jun-39	 	56,624.85	 	36,419.19
	209	 	1-Jul-39	 	56,624.85	 	36,419.19
	210	 	1-Aug-39	 	56,624.85	 	36,419.19
	211	 	1-Sep-39	 	58,323.59	 	36,419.19
	212	 	1-Oct-39	 	58,323.59	 	36,419.19
	213	 	1-Nov-39	 	58,323.59	 	36,419.19
	214	 	1-Dec-39	 	58,323.59	 	36,419.19
	215	 	1-Jan-40	 	58,323.59	 	36,419.19
	216	 	1-Feb-40	 	58,323.59	 	36,419.19
	217	 	1-Mar-40	 	58,323.59	 	37,511.77
	218	 	1-Apr-40	 	58,323.59	 	37,511.77
	219	 	1-May-40	 	58,323.59	 	37,511.77

 

Option
Period 1

 

	220	 	1-Jun-40	 	58,323.59	 	37,511.77
	221	 	1-Jul-40	 	58,323.59	 	37,511.77
	222	 	1-Aug-40	 	58,323.59	 	37,511.77
	223	 	1-Sep-40	 	60,073.30	 	37,511.77
	224	 	1-Oct-40	 	60,073.30	 	37,511.77
	225	 	1-Nov-40	 	60,073.30	 	37,511.77
	226	 	1-Dec-40	 	60,073.30	 	37,511.77
	227	 	1-Jan-41	 	60,073.30	 	37,511.77
	228	 	1-Feb-41	 	60,073.30	 	37,511.77

 

 

    	11

     

    

 

	229	 	1-Mar-41	 	60,073.30	 	38,637.12
	230	 	1-Apr-41	 	60,073.30	 	38,637.12
	231	 	1-May-41	 	60,073.30	 	38,637.12
	232	 	1-Jun-41	 	60,073.30	 	38,637.12
	233	 	1-Jul-41	 	60,073.30	 	38,637.12
	234	 	1-Aug-41	 	60,073.30	 	38,637.12
	235	 	1-Sep-41	 	61,875.50	 	38,637.12
	236	 	1-Oct-41	 	61,875.50	 	38,637.12
	237	 	1-Nov-41	 	61,875.50	 	38,637.12
	238	 	1-Dec-41	 	61,875.50	 	38,637.12
	239	 	1-Jan-42	 	61,875.50	 	38,637.12
	240	 	1-Feb-42	 	61,875.50	 	38,637.12
	241	 	1-Mar-42	 	61,875.50	 	39,796.24
	242	 	1-Apr-42	 	61,875.50	 	39,796.24
	243	 	1-May-42	 	61,875.50	 	39,796.24
	244	 	1-Jun-42	 	61,875.50	 	39,796.24
	245	 	1-Jul-42	 	61,875.50	 	39,796.24
	246	 	1-Aug-42	 	61,875.50	 	39,796.24
	247	 	1-Sep-42	 	63,731.77	 	39,796.24
	248	 	1-Oct-42	 	63,731.77	 	39,796.24
	249	 	1-Nov-42	 	63,731.77	 	39,796.24
	250	 	1-Dec-42	 	63,731.77	 	39,796.24
	251	 	1-Jan-43	 	63,731.77	 	39,796.24
	252	 	1-Feb-43	 	63,731.77	 	39,796.24
	253	 	1-Mar-43	 	63,731.77	 	40,990.12
	254	 	1-Apr-43	 	63,731.77	 	40,990.12
	255	 	1-May-43	 	63,731.77	 	40,990.12
	256	 	1-Jun-43	 	63,731.77	 	40,990.12
	257	 	1-Jul-43	 	63,731.77	 	40,990.12
	258	 	1-Aug-43	 	63,731.77	 	40,990.12
	259	 	1-Sep-43	 	65,643.72	 	40,990.12
	260	 	1-Oct-43	 	65,643.72	 	40,990.12
	261	 	1-Nov-43	 	65,643.72	 	40,990.12
	262	 	1-Dec-43	 	65,643.72	 	40,990.12
	263	 	1-Jan-44	 	65,643.72	 	40,990.12
	264	 	1-Feb-44	 	65,643.72	 	40,990.12
	265	 	1-Mar-44	 	65,643.72	 	42,219.83
	266	 	1-Apr-44	 	65,643.72	 	42,219.83
	267	 	1-May-44	 	65,643.72	 	42,219.83

 

    	12

     

    

 

	268	 	1-Jun-44	 	65,643.72	 	 	42,219.83
	269	 	1-Jul-44	 	65,643.72	 	 	42,219.83
	270	 	1-Aug-44	 	65,643.72	 	 	42,219.83
	271	 	1-Sep-44	 	67,613.03	 	 	42,219.83
	272	 	1-Oct-44	 	67,613.03	 	 	42,219.83
	273	 	1-Nov-44	 	67,613.03	 	 	42,219.83
	274	 	1-Dec-44	 	67,613.03	 	 	42,219.83
	275	 	1-Jan-45	 	67,613.03	 	 	42,219.83
	276	 	1-Feb-45	 	67,613.03	 	 	42,219.83
	277	 	1-Mar-45	 	67,613.03	 	 	43,486.42
	278	 	1-Apr-45	 	67,613.03	 	 	43,486.42
	279	 	1-May-45	 	67,613.03	 	 	43,486.42

 

Option
Period 2

 

	280	 	1-Jun-45	 	67,613.03	 	 	43,486.42
	281	 	1-Jul-45	 	67,613.03	 	 	43,486.42
	282	 	1-Aug-45	 	67,613.03	 	 	43,486.42
	283	 	1-Sep-45	 	69,641.42	 	 	43,486.42
	284	 	1-Oct-45	 	69,641.42	 	 	43,486.42
	285	 	1-Nov-45	 	69,641.42	 	 	43,486.42
	286	 	1-Dec-45	 	69,641.42	 	 	43,486.42
	287	 	1-Jan-46	 	69,641.42	 	 	43,486.42
	288	 	1-Feb-46	 	69,641.42	 	 	43,486.42
	289	 	1-Mar-46	 	69,641.42	 	 	44,791.01
	290	 	1-Apr-46	 	69,641.42	 	 	44,791.01
	291	 	1-May-46	 	69,641.42	 	 	44,791.01
	292	 	1-Jun-46	 	69,641.42	 	 	44,791.01
	293	 	1-Jul-46	 	69,641.42	 	 	44,791.01
	294	 	1-Aug-46	 	69,641.42	 	 	44,791.01
	295	 	1-Sep-46	 	71,730.66	 	 	44,791.01
	296	 	1-Oct-46	 	71,730.66	 	 	44,791.01
	297	 	1-Nov-46	 	71,730.66	 	 	44,791.01
	298	 	1-Dec-46	 	71,730.66	 	 	44,791.01
	299	 	1-Jan-47	 	71,730.66	 	 	44,791.01
	300	 	1-Feb-47	 	71,730.66	 	 	44,791.01
	301	 	1-Mar-47	 	71,730.66	 	 	46,134.74
	302	 	1-Apr-47	 	71,730.66	 	 	46,134.74
	303	 	1-May-47	 	71,730.66	 	 	46,134.74

 

    	13

     

    

 

	304	 	1-Jun-47	 	71,730.66	 	 	46,134.74
	305	 	1-Jul-47	 	71,730.66	 	 	46,134.74
	306	 	1-Aug-47	 	71,730.66	 	 	46,134.74
	307	 	1-Sep-47	 	73,882.58	 	 	46,134.74
	308	 	1-Oct-47	 	73,882.58	 	 	46,134.74
	309	 	1-Nov-47	 	73,882.58	 	 	46,134.74
	310	 	1-Dec-47	 	73,882.58	 	 	46,134.74
	311	 	1-Jan-48	 	73,882.58	 	 	46,134.74
	312	 	1-Feb-48	 	73,882.58	 	 	46,134.74
	313	 	1-Mar-48	 	73,882.58	 	 	47,518.79
	314	 	1-Apr-48	 	73,882.58	 	 	47,518.79
	315	 	1-May-48	 	73,882.58	 	 	47,518.79
	316	 	1-Jun-48	 	73,882.58	 	 	47,518.79
	317	 	1-Jul-48	 	73,882.58	 	 	47,518.79
	318	 	1-Aug-48	 	73,882.58	 	 	47,518.79
	319	 	1-Sep-48	 	76,099.06	 	 	47,518.79
	320	 	1-Oct-48	 	76,099.06	 	 	47,518.79
	321	 	1-Nov-48	 	76,099.06	 	 	47,518.79
	322	 	1-Dec-48	 	76,099.06	 	 	47,518.79
	323	 	1-Jan-49	 	76,099.06	 	 	47,518.79
	324	 	1-Feb-49	 	76,099.06	 	 	47,518.79
	325	 	1-Mar-49	 	76,099.06	 	 	48,944.35
	326	 	1-Apr-49	 	76,099.06	 	 	48,944.35
	327	 	1-May-49	 	76,099.06	 	 	48,944.35
	328	 	1-Jun-49	 	76,099.06	 	 	48,944.35
	329	 	1-Jul-49	 	76,099.06	 	 	48,944.35
	330	 	1-Aug-49	 	76,099.06	 	 	48,944.35
	331	 	1-Sep-49	 	78,382.03	 	 	48,944.35
	332	 	1-Oct-49	 	78,382.03	 	 	48,944.35
	333	 	1-Nov-49	 	78,382.03	 	 	48,944.35
	334	 	1-Dec-49	 	78,382.03	 	 	48,944.35
	335	 	1-Jan-50	 	78,382.03	 	 	48,944.35
	336	 	1-Feb-50	 	78,382.03	 	 	48,944.35
	337	 	1-Mar-50	 	78,382.03	 	 	50,412.68
	338	 	1-Apr-50	 	78,382.03	 	 	50,412.68
	339	 	1-May-50	 	78,382.03	 	 	50,412.68

 

    	14

     

    

 

Exhibit
4– Second Amendment

 

*NorthEast
Kind Holdings, LLC:

 

Justice
Rines-COO - $150,000 annually

 

*Judley,
LLC (Licensed Medical Entity operating in Eliot, ME:

 

Hughes
Pope Director Cultivation/Principal - $200,000 annually

Kristin
Pope - Director Product Formulation/Principal - $100,000 annually

 

Salary
Limit Increases: On the first day of each calendar
year of the Lease Term (and applied retroactively to the Effective Date of the Original Lease) unless the parties shall otherwise agree
in writing, the salary limits above shall be increased by the then-current percentage increase for the twelve-month period of such previous
calendar year of the CPI-U (defined below) or, if that publication of such index is terminated, any successor or substitute index, appropriately
adjusted, acceptable to both parties. As used herein, “CPI-U” shall mean the Consumer Price Index for All Urban Consumers,
as published by the United States Department of Labor, Bureau of Labor Statistics. Notwithstanding the foregoing, such yearly salary
limit increases shall in no event be less than three percent (3%).

 

*These
figures do not include participation in the employee benefits program

 

    	15EX-4.4

 Exhibit 4.4 

DESCRIPTION OF SECURITIES 
 The following
description sets forth certain material terms and provisions of the securities of Jack Creek Investment Corp. (“we,” “us”, “our” or the “Company”) that are registered under Section 12 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). References to our “sponsor” refer to JCIC Sponsor LLC, a Cayman Islands exempted limited partnership. References to our “Public Offering” refer to the initial
public offering of Jack Creek Investment Corp., which closed on January 26, 2021 (the “IPO Closing Date”). The following description of our securities is not complete and may not contain all the information you should consider before
investing in our securities. This description is summarized from, and qualified in its entirety by reference to, our amended and restated memorandum and articles of association and our warrant agreement, which are incorporated herein by reference
and filed as an exhibit to our Annual Report on Form 10-K to which this summary is filed as an exhibit. We are a Cayman Islands exempted company and our affairs are governed by our amended and restated
memorandum and articles of association, the Companies Act (As Revised) of the Cayman Islands (the “Companies Act”) and the common law of the Cayman Islands. Defined terms used but not defined herein shall have the meanings ascribed to such
terms in the Company’s Annual Report on Form 10-K. 
 As of the date of our Annual Report, we have three
classes of securities registered under the Exchange Act: our Class A ordinary shares, par value $0.0001 per share; warrants to purchase our Class A ordinary shares; and units consisting of one Class A ordinary share and one-half of one warrant to purchase our ordinary shares. 
 Units 

Each unit consists of one Class A ordinary share, par value $0.0001 per share, and one-half of one redeemable
warrant of the Company. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as described below. Pursuant to the warrant agreement, a warrant holder may
exercise its warrants only for a whole number of the company’s Class A ordinary shares. This means only a whole warrant may be exercised at any given time by a warrant holder. 

The Class A ordinary shares and warrants comprising the units began separate trading on March 15, 2021. Holders have the option to continue to hold
units or separate their units into the component securities. Holders will need to have their brokers contact our transfer agent in order to separate the Units into shares of Class A ordinary shares and warrants. 

Additionally, the units will automatically separate into their component parts and will not be traded after completion of our initial business combination.

 Ordinary Shares 
 As of the date of our Annual
Report, there were 43,125,000 issued and outstanding ordinary shares including: 
  

	 	•	 	 34,500,000 Class A ordinary shares, par value $0.0001 and 

 

	 	•	 	 8,625,000 Class B ordinary shares held by our sponsor. 

Ordinary shareholders of record are entitled to one vote for each share held on all matters to be 

 
voted on by shareholders. Except as described below, holders of Class A ordinary shares and holders of Class B ordinary shares vote together as a single class on all matters submitted
to a vote of our shareholders except as required by law. Unless specified in our amended and restated memorandum and articles of association, or as required by applicable provisions of the Companies Act or applicable stock exchange rules, the
affirmative vote of a majority of our ordinary shares that are voted is required to approve any such matter voted on by our shareholders. Approval of certain actions will require a special resolution under Cayman Islands law, being the affirmative
vote of at least two-thirds of our ordinary shares that are voted, and pursuant to our amended and restated memorandum and articles of association; such actions include amending our amended and restated
memorandum and articles of association and approving a statutory merger or consolidation with another company. Our board of directors is divided into three classes each of which generally serve for a term of three years with only one class of
directors being appointed in each year. There is no cumulative voting with respect to the appointment of directors, with the result that the holders of more than 50% of the shares voted for the appointment of directors can appoint all of the
directors. Our shareholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. Prior to our initial business combination, (i) only holders of our founder shares
will have the right to vote on the appointment of directors and (ii) in a vote to continue the Company in a jurisdiction outside the Cayman Islands (which requires the approval of at least two thirds of the votes of all ordinary shares),
holders of our Class B ordinary shares will have ten votes for every Class B ordinary share and holders of our Class A ordinary shares will have one vote for every Class A ordinary share. These provisions of our amended and
restated memorandum and articles of association may only be amended by a special resolution passed by not less than 90% of our ordinary shares who attend and vote at our general meeting which shall include the affirmative vote of a simple majority
of our Class B ordinary shares. Holders of our public shares will not be entitled to vote on the appointment of directors prior to the initial business combination. In addition, prior to the completion of an initial business combination,
holders of a majority of our founder shares may remove a member of the board of directors for any reason. In connection with our initial business combination, we may enter into a shareholders agreement or other arrangements with the shareholders of
the target with respect to voting and other corporate governance matters following completion of the initial business combination. 
 Because our amended
and restated memorandum and articles of association authorizes the issuance of up to 500,000,000 Class A ordinary shares, if we were to enter into a business combination, we may (depending on the terms of such a business combination) be
required to increase the number of Class A ordinary shares which we will be authorized to issue at the same time as our shareholders vote on the business combination to the extent we seek shareholder approval in connection with our initial
business combination. 
 Our board of directors is divided into three classes with only one class of directors being appointed in each year and each class
(except for those directors appointed prior to our first general meeting) serving a three-year term. In accordance with the Nasdaq corporate governance requirements, we are not required to hold an annual general meeting until one year after our
first fiscal year end following our listing on Nasdaq. There is no requirement under the Companies Act for us to hold annual or extraordinary general meetings to appoint directors. We may not hold an annual general meeting to appoint new directors
prior to the consummation of our initial business combination. Prior to the completion of an initial business combination, any vacancy on the board of directors may be filled by a nominee chosen by holders of a majority of our founder shares. In
addition, prior to the completion of an initial business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. 

 We will provide our public shareholders with the opportunity to redeem all or a portion of their public
shares upon the completion of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business days prior
to the consummation of our initial business combination, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any, divided by the number of the then-outstanding public shares,
subject to the limitations described herein. The amount in the trust account is initially anticipated to be $10.00 per public share. The per share amount we will distribute to investors who properly redeem their shares will not be reduced by the
deferred underwriting commissions we will pay to the underwriters. The redemption rights will include the requirement that a beneficial owner must identify itself in order to valid redeem its shares. Our sponsor and each member of our management
team have entered into an agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any founder shares and public shares held by them in connection with (i) the completion of our initial business
combination and (ii) a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our Class A
ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of the Public
Offering or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares. Unlike many blank check companies that hold shareholder votes and conduct proxy solicitations in conjunction with their
initial business combinations and provide for related redemptions of public shares for cash upon completion of such initial business combinations even when a vote is not required by law, if a shareholder vote is not required by applicable law or
stock exchange listing requirements, and we do not decide to hold a shareholder vote for business or other reasons, we will, pursuant to our amended and restated memorandum and articles of association, conduct the redemptions pursuant to the tender
offer rules of the SEC, and file tender offer documents with the SEC prior to completing our initial business combination. Our amended and restated memorandum and articles of association require these tender offer documents to contain substantially
the same financial and other information about the initial business combination and the redemption rights as is required under the SEC’s proxy rules. If, however, a shareholder approval of the transaction is required by applicable law or stock
exchange listing requirements, or we decide to obtain shareholder approval for business or other reasons, we will, like many blank check companies, offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not
pursuant to the tender offer rules. If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law, being the affirmative vote of a majority of the
ordinary shares represented in person or by proxy and entitled to vote thereon and who vote at a general meeting. However, the participation of our sponsor, officers, directors, advisors or their affiliates in privately-negotiated transactions, if
any, could result in the approval of our initial business combination even if a majority of our public shareholders vote, or indicate their intention to vote, against such initial business combination. For purposes of seeking approval of the
majority of our issued and outstanding ordinary shares, non-votes will have no effect on the approval of our initial business combination once a quorum is obtained. Our amended and restated memorandum and
articles of association require that at least five days’ notice will be given of any general meeting. 
 If we seek shareholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our amended and restated memorandum and articles of association will provide that a public shareholder,
together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act), 

 
will be restricted from redeeming its shares with respect to Excess Shares, without our prior consent. However, we would not be restricting our shareholders’ ability to vote all of their
shares (including Excess Shares) for or against our initial business combination. Our shareholders’ inability to redeem the Excess Shares will reduce their influence over our ability to complete our initial business combination, and such
shareholders could suffer a material loss in their investment if they sell such Excess Shares on the open market. Additionally, such shareholders will not receive redemption distributions with respect to the Excess Shares if we complete our initial
business combination. And, as a result, suchshareholders will continue to hold that number of shares exceeding 15% and, in order to dispose such shares would be required to sell their shares in open market transactions, potentially at a loss. 

If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman
Islands law, being the affirmative vote of a majority of the ordinary shares represented in person or by proxy and entitled to vote thereon and who vote at a general meeting. In such case, our sponsor and each member of our management team have
agreed to vote their founder shares and public shares in favor of our initial business combination. As a result, in addition to our initial shareholders’ founder shares, we would need 12,937,501, or 37.5% (assuming all issued and outstanding
shares are voted), or 2,156,251, or 6.25% (assuming only the minimum number of shares representing a quorum are voted), of the 34,500,000 public shares sold in the Public Offering to be voted in favor of an initial business combination in order to
have our initial business combination approved. Additionally, each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction or vote at all. 

Pursuant to our amended and restated memorandum and articles of association, if we have not consummated an initial business combination within 24 months from
the closing of the Public Offering, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our
income taxes, if any (less up to $100,000 of interest to pay dissolution expenses) divided by the number of the then-outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including
the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve,
subject in the case of clauses (ii) and (iii), to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. Our sponsor and each member of our management team have entered into an
agreement with us, pursuant to which they have agreed to waive their rights to liquidating distributions from the trust account with respect to any founder shares they hold if we fail to consummate an initial business combination within 24 months
from the closing of the Public Offering (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within the prescribed
time frame). Our amended and restated memorandum and articles of association provide that, if we wind up for any other reason prior to the consummation of our initial business combination, we will follow the foregoing procedures with respect to the
liquidation of the trust account as promptly as reasonably possible but not more than ten business days thereafter, subject to applicable Cayman Islands law. 

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

 The founder shares are designated as Class B ordinary shares and, except as described below, are identical to the Class A ordinary shares
included in the units sold in the Public Offering, and holders of founder shares have the same shareholder rights as public shareholders, except that: (a) prior to our initial business combination, only holders of the founder shares have the
right to vote on the appointment of directors and holders of a majority of our founder shares may remove a member of the board of directors for any reason; (b) in a vote to continue the company in a jurisdiction outside the Cayman Islands
(which requires the approval of at least two thirds of the votes of all ordinary shares), holders of our founder shares have ten votes for every founder share and, as a result, our initial shareholders will be able to approve any such proposal
without the vote of any other shareholder, (c) the founder shares are subject to certain transfer restrictions, as described in more detail below; (d) our sponsor and each member of our management team have entered into an agreement with
us, pursuant to which they have agreed to (i) waive their redemption rights with respect to their founder shares (ii) to waive their redemption rights with respect to their founder shares and public shares in connection with a shareholder
vote to approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their
shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of the Public Offering or (B) with respect to
any other provision relating to the rights of holders of our Class A ordinary shares; and (iii) waive their rights to liquidating distributions from the trust account with respect to any founder shares they hold if we fail to consummate an
initial business combination within 24 months from the closing of the Public Offering (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial
business combination within the prescribed time frame); (e) the founder shares will automatically convert into our Class A ordinary shares at the time of our initial business combination as described herein; and (f) the founder shares are
entitled to registration rights. If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law, being the affirmative vote of a majority of the
ordinary shares represented in person or by proxy and entitled to vote thereon and who vote at a general meeting. In such case, our sponsor and each member of our management team have agreed to vote their founder shares and public shares in favor of
our initial business combination. 
 The founder shares are designated as Class B ordinary shares and will automatically convert into Class A
ordinary shares (which such Class A ordinary shares delivered upon conversion will not have redemption rights or be entitled to liquidating distributions from the trust account if we do not consummate an initial business combination) at the
time of our initial business combination at a ratio such that the number of Class A ordinary shares issuable upon conversion of all founder shares will 

 
equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of ordinary shares issued and outstanding upon completion of
the Public Offering, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the Company in connection with
or in relation to the consummation of the initial business combination, excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued, or to be issued,
to any seller in the initial business combination and any private placement warrants issued to our sponsor, its affiliates or any member of our management team upon conversion of working capital loans. In no event will the Class B ordinary
shares convert into Class A ordinary shares at a rate of less than one-to-one. 

Except as described herein, our sponsor and our directors and executive officers have agreed not to transfer, assign or sell any of their founder shares until
earliest of (A) one year after the completion of our initial business combination and (B) subsequent to our initial business combination, (x) if the closing price of our Class A ordinary shares equals or exceeds $12.00 per share
(as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period
commencing at least 150 days after our initial business combination, or (y) the date on which we complete a liquidation, merger, share exchange or other similar transaction that results in all of our public shareholders having the right to
exchange their ordinary shares for cash, securities or other property. We refer to these transfer restrictions as the lock-up. Any permitted transferees would be subject to the same restrictions and other
agreements of our sponsor and our directors and executive officers with respect to any founder shares. 
 Prior to our initial business combination, only
holders of our founder shares will have the right to vote on the appointment of directors. Holders of our public shares will not be entitled to vote on the appointment of directors during such time. In addition, prior to the completion of an initial
business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. These provisions of our amended and restated memorandum and articles of association may only be amended by a special
resolution passed by not less than 90% of our ordinary shares who attend and vote at our general meeting which shall include the affirmative vote of a simple majority of our Class B ordinary shares. With respect to any other matter submitted to
a vote of our shareholders, including any vote in connection with our initial business combination, except as required by law, holders of our founder shares and holders of our public shares will vote together as a single class, with each share
entitling the holder to one vote. 
 Register of Members 

Under Cayman Islands law, we must keep a register of members and there will be entered therein: 

 

	 	•	 	 the names and addresses of the members, a statement of the shares held by each member, and of the amount paid or
agreed to be considered as paid, on the shares of each member and the voting rights of shares of each member; 

  

	 	•	 	 whether voting rights attach to the shares in issue; 

 

	 	•	 	 the date on which the name of any person was entered on the register as a member; and 

 

	 	•	 	 the date on which any person ceased to be a member. 

 Under Cayman Islands law, the register of members of our company is prima facie evidence of the matters set
out therein (i.e., the register of members will raise a presumption of fact on the matters referred to above unless rebutted) and a member registered in the register of members will be deemed as a matter of Cayman Islands law to have legal title to
the shares as set against its name in the register of members. The shareholders recorded in the register of members will be deemed to have legal title to the shares set against their name. However, there are certain limited circumstances where an
application may be made to a Cayman Islands court for a determination on whether the register of members reflects the correct legal position. Further, the Cayman Islands court has the power to order that the register of members maintained by a
company should be rectified where it considers that the register of members does not reflect the correct legal position. If an application for an order for rectification of the register of members were made in respect of our ordinary shares, then
the validity of such shares may be subject to re-examination by a Cayman Islands court. 
 Preference Shares

 Our amended and restated memorandum and articles of association authorizes 1,000,000 preference shares and provides that preference shares may be
issued from time to time in one or more series. Our board of directors is authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating, optional or other special rights and any qualifications,
limitations and restrictions thereof, applicable to the shares of each series. Our board of directors is able to, without shareholder approval, issue preference shares with voting and other rights that could adversely affect the voting power and
other rights of the holders of the ordinary shares and could have anti-takeover effects. The ability of our board of directors to issue preference shares without shareholder approval could have the effect of delaying, deferring or preventing a
change of control of us or the removal of existing management. We have no preference shares issued and outstanding at the date hereof. Although we do not currently intend to issue any preference shares, we cannot assure you that we will not do so in
the future. 
 Warrants 
 Public shareholders’
warrants 
 Each whole warrant entitles the registered holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to
adjustment as discussed below, at any time commencing on the later of one year from the closing of the Public Offering and 30 days after the completion of our initial business combination, except as discussed in the immediately succeeding paragraph.
Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for a whole number of Class A ordinary shares. This means only a whole warrant may be exercised at a given time by a warrant holder. No fractional warrants will
be issued upon separation of the units and only whole warrants will trade. Accordingly, unless you purchase at least two units, you will not be able to receive or trade a whole warrant. The warrants will expire five years after the completion of our
initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. 
 We will not be obligated to deliver any
Class A ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act with respect to the Class A ordinary shares underlying the
warrants is then effective and a prospectus relating thereto is current, subject to our satisfying our obligations described below with respect to registration, or a valid exemption from registration is available. No warrant will be exercisable and
we will not be obligated to issue a Class A ordinary share upon exercise of a warrant unless the Class A ordinary share issuable upon such warrant exercise has been registered, qualified or deemed to be exempt

 
under the securities laws of the state of residence of the registered holder of the warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with
respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event will we be required to net cash settle any warrant. In the event that a registration
statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase price for the unit solely for the Class A ordinary share underlying such unit. 

We have agreed that as soon as practicable, but in no event later than twenty business days after the closing of our initial business combination, we will use
our commercially reasonable efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the warrants, and we will use our commercially reasonable
efforts to cause the same to become effective within 60 business days after the closing of our initial business combination, and to maintain the effectiveness of such registration statement and a current prospectus relating to those Class A
ordinary shares until the warrants expire or are redeemed, as specified in the warrant agreement; provided that if our Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that
they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of public warrants who exercise their warrants to do so on a “cashless basis” in
accordance with Section 3(a)(9) of the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect a registration statement, but we will use our commercially reasonably efforts to register or qualify the
shares under applicable blue sky laws to the extent an exemption is not available. If a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective by the 60th day after the closing of the
initial business combination, warrant holders may, until such time as there is an effective registration statement and during any period when we will have failed to maintain an effective registration statement, exercise warrants on a “cashless
basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption, but we will use our commercially reasonably efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not
available. In such event, each holder would pay the exercise price by surrendering the warrants for that number of Class A ordinary shares equal to the lesser of (A) 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” (defined below) less the exercise price of the warrants by (y) the fair market value and (B) 0.361. The “fair market
value” as used in this paragraph shall mean the volume weighted average price of the Class A ordinary shares for the 10 trading days ending on the trading day prior to the date on which the notice of exercise is received by the warrant
agent. 
 Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00. 

Once the warrants become exercisable, we may redeem the outstanding warrants (except as described herein with respect to the private placement warrants): 

 

	 	•	 	 in whole and not in part; 

 

	 	•	 	 at a price of $0.01 per warrant; 

 

	 	•	 	 upon a minimum of 30 days’ prior written notice of redemption to each warrant holder; and

  

	 	•	 	 if, and only if, the closing price of the Class A ordinary shares equals or exceeds $18.00 per share (as
adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described under the heading “—Warrants—Public Shareholders’ Warrants—Anti-dilution Adjustments”) for any 20
trading days within a 30-trading day period ending three trading days before we send the notice of redemption to the warrant holders. 

 We will not redeem the warrants as described above unless a registration statement under the Securities Act
covering the issuance of the Class A ordinary shares issuable upon exercise of the warrants is then effective and a current prospectus relating to those Class A ordinary shares is available throughout the
30-day redemption period. If and when the warrants become redeemable by us, we may exercise our redemption right even if we are unable to register or qualify the underlying securities for sale under all
applicable state securities laws. 
 We have established the last of the redemption criterion discussed above to prevent a redemption call unless there is
at the time of the call a significant premium to the warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrant holder will be entitled to exercise his, her or its warrant
prior to the scheduled redemption date. However, the price of the Class A ordinary shares may fall below the $18.00 redemption trigger price (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a
warrant as described under the heading “—Warrants—Public Shareholders’ Warrants—Anti-dilution Adjustments”) as well as the $11.50 (for whole shares) warrant exercise price after the redemption notice is issued. 

Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00. 

Once the warrants become exercisable, we may redeem the outstanding warrants: 
  

	 	•	 	 in whole and not in part; 

 

	 	•	 	 at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption provided that holders
will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined by reference to the table below, based on the redemption date and the “fair market value” of our Class A
ordinary shares (as defined below) except as otherwise described below; 

  

	 	•	 	 if, and only if, the closing price of our Class A ordinary shares equals or exceeds $10.00 per public share
(as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described under the heading “—Warrants—Public Shareholders’ Warrants—Anti-dilution Adjustments”) for any
20 trading days within the 30-trading day period ending three trading days before we send the notice of redemption to the warrant holders; and 

 

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

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

 Pursuant to the warrant agreement, references above to Class A ordinary shares shall include a security
other than Class A ordinary shares into which the Class A ordinary shares have been converted or exchanged for in the event we are not the surviving company in our initial business combination. The numbers in the table below will not be
adjusted when determining the number of Class A ordinary shares to be issued upon exercise of the warrants if we are not the surviving entity following our initial business combination. 

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

																																					
	 Redemption date

(period to expiration of warrants)
	  	Fair Market value of Class A Ordinary Shares	 
	 	  	≤$10.00	 	  	11.00	 	  	12.00	 	  	13.00	 	  	14.00	 	  	15.00	 	  	16.00	 	  	17.00	 	  	≥18.00	 
	 60 months
	  	 	0.261	 	  	 	0.281	 	  	 	0.297	 	  	 	0.311	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 57 months
	  	 	0.257	 	  	 	0.277	 	  	 	0.294	 	  	 	0.310	 	  	 	0.324	 	  	 	0.337	 	  	 	0.348	 	  	 	0.358	 	  	 	0.361	 
	 54 months
	  	 	0.252	 	  	 	0.272	 	  	 	0.291	 	  	 	0.307	 	  	 	0.322	 	  	 	0.335	 	  	 	0.347	 	  	 	0.357	 	  	 	0.361	 
	 51 months
	  	 	0.246	 	  	 	0.268	 	  	 	0.287	 	  	 	0.304	 	  	 	0.320	 	  	 	0.333	 	  	 	0.346	 	  	 	0.357	 	  	 	0.361	 
	 48 months
	  	 	0.241	 	  	 	0.263	 	  	 	0.283	 	  	 	0.301	 	  	 	0.317	 	  	 	0.332	 	  	 	0.344	 	  	 	0.356	 	  	 	0.361	 
	 45 months
	  	 	0.235	 	  	 	0.258	 	  	 	0.279	 	  	 	0.298	 	  	 	0.315	 	  	 	0.330	 	  	 	0.343	 	  	 	0.356	 	  	 	0.361	 
	 42 months
	  	 	0.228	 	  	 	0.252	 	  	 	0.274	 	  	 	0.294	 	  	 	0.312	 	  	 	0.328	 	  	 	0.342	 	  	 	0.355	 	  	 	0.361	 
	 39 months
	  	 	0.221	 	  	 	0.246	 	  	 	0.269	 	  	 	0.290	 	  	 	0.309	 	  	 	0.325	 	  	 	0.340	 	  	 	0.354	 	  	 	0.361	 
	 36 months
	  	 	0.213	 	  	 	0.239	 	  	 	0.263	 	  	 	0.285	 	  	 	0.305	 	  	 	0.323	 	  	 	0.339	 	  	 	0.353	 	  	 	0.361	 
	 33 months
	  	 	0.205	 	  	 	0.232	 	  	 	0.257	 	  	 	0.280	 	  	 	0.301	 	  	 	0.320	 	  	 	0.337	 	  	 	0.352	 	  	 	0.361	 
	 30 months
	  	 	0.196	 	  	 	0.224	 	  	 	0.250	 	  	 	0.274	 	  	 	0.297	 	  	 	0.316	 	  	 	0.335	 	  	 	0.351	 	  	 	0.361	 
	 27 months
	  	 	0.185	 	  	 	0.214	 	  	 	0.242	 	  	 	0.268	 	  	 	0.291	 	  	 	0.313	 	  	 	0.332	 	  	 	0.350	 	  	 	0.361	 
	 24 months
	  	 	0.173	 	  	 	0.204	 	  	 	0.233	 	  	 	0.260	 	  	 	0.285	 	  	 	0.308	 	  	 	0.329	 	  	 	0.348	 	  	 	0.361	 
	 21 months
	  	 	0.161	 	  	 	0.193	 	  	 	0.223	 	  	 	0.252	 	  	 	0.279	 	  	 	0.304	 	  	 	0.326	 	  	 	0.347	 	  	 	0.361	 
	 18 months
	  	 	0.146	 	  	 	0.179	 	  	 	0.211	 	  	 	0.242	 	  	 	0.271	 	  	 	0.298	 	  	 	0.322	 	  	 	0.345	 	  	 	0.361	 
	 15 months
	  	 	0.130	 	  	 	0.164	 	  	 	0.197	 	  	 	0.230	 	  	 	0.262	 	  	 	0.291	 	  	 	0.317	 	  	 	0.342	 	  	 	0.361	 

																																					
	 12 months
	  	 	0.111	 	  	 	0.146	 	  	 	0.181	 	  	 	0.216	 	  	 	0.250	 	  	 	0.282	 	  	 	0.312	 	  	 	0.339	 	  	 	0.361	 
	 9 months
	  	 	0.090	 	  	 	0.125	 	  	 	0.162	 	  	 	0.199	 	  	 	0.237	 	  	 	0.272	 	  	 	0.305	 	  	 	0.336	 	  	 	0.361	 
	 6 months
	  	 	0.065	 	  	 	0.099	 	  	 	0.137	 	  	 	0.178	 	  	 	0.219	 	  	 	0.259	 	  	 	0.296	 	  	 	0.331	 	  	 	0.361	 
	 3 months
	  	 	0.034	 	  	 	0.065	 	  	 	0.104	 	  	 	0.150	 	  	 	0.197	 	  	 	0.243	 	  	 	0.286	 	  	 	0.326	 	  	 	0.361	 
	 0 months
	  	 	—	 	  	 	—  	 	  	 	0.042	 	  	 	0.115	 	  	 	0.179	 	  	 	0.233	 	  	 	0.281	 	  	 	0.323	 	  	 	0.361	 

 The exact fair market value and redemption date may not be set forth in the table above, in which case, if the fair market
value is between two values in the table or the redemption date is between two redemption dates in the table, the number of Class A ordinary shares to be issued for each warrant exercised will be determined by a straight-line interpolation
between the number of shares set forth for the higher and lower fair market values and the earlier and later redemption dates, as applicable, based on a 365 or 366-day year, as applicable. For example, if the
volume weighted average price of our Class A ordinary shares during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of the warrants is $11.00 per share, and at such time there are 57
months until the expiration of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants for 0.277 Class A ordinary shares for each whole warrant. For an example where the exact fair market value
and redemption date are not as set forth in the table above, if the volume weighted average price of our Class A ordinary shares during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders
of the warrants is $13.50 per share, and at such time there are 38 months until the expiration of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants for 0.298 Class A ordinary shares for
each whole warrant. In no event will the warrants be exercisable on a cashless basis in connection with this redemption feature for more than 0.361 Class A ordinary shares per warrant (subject to adjustment). Finally, as reflected in the table
above, if the warrants are out of the money and about to expire, they cannot be exercised on a cashless basis in connection with a redemption by us pursuant to this redemption feature, since they will not be exercisable for any Class A ordinary
shares. 
 This redemption feature differs from the typical warrant redemption features used in many other blank check offerings, which typically only
provide for a redemption of warrants for cash (other than the private placement warrants) when the trading price for the Class A ordinary shares exceeds $18.00 per share for a specified period of time. This redemption feature is structured to
allow for all of the outstanding warrants to be redeemed when the Class A ordinary shares are trading at or above $10.00 per public share, which may be at a time when the trading price of our Class A ordinary shares is below the exercise
price of the warrants. We have established this redemption feature to provide us with the flexibility to redeem the warrants without the warrants having to reach the $18.00 per share threshold set forth above under “—Redemption of warrants
when the price per Class A ordinary share equals or exceeds $18.00.” Holders choosing to exercise their warrants in connection with a redemption pursuant to this feature will, in effect, receive a number of shares for their warrants based
on an option pricing model with a fixed volatility input as of January 21, 2021. This redemption right provides us with an additional mechanism by which to redeem all of the outstanding warrants, and therefore have certainty as to our capital
structure as the warrants would no longer be outstanding and would have been exercised or redeemed. We will be required to pay the applicable redemption price to warrant holders if we choose to exercise this redemption right and it will allow us to
quickly proceed with a redemption of the warrants if we determine it is in our best interest to do so. As such, we would redeem the warrants in this manner when we believe it is in our best interest to update our capital structure to remove the
warrants and pay the redemption price to the warrant holders. 

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

Redemption procedures. 
 A holder of a warrant may notify
us in writing in the event it elects to be subject to a requirement that such holder will not have the right to exercise such warrant, to the extent that after giving effect to such exercise, such person (together with such person’s
affiliates), to the warrant agent’s actual knowledge, would beneficially own in excess of 9.8% (or such other amount as a holder may specify) of the Class A ordinary shares issued and outstanding immediately after giving effect to such
exercise. 
 Anti-dilution adjustments.     

If 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 ordinary shares or other similar event, then, on the effective date of such capitalization or share dividend, split-up or similar event, the number of Class A
ordinary shares issuable on exercise of each warrant will be increased in proportion to such increase in the outstanding ordinary shares. A rights offering made to all or substantially all holders of ordinary shares entitling holders to purchase
Class A ordinary shares at a price less than the “historical fair market value” (as defined below) will 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) and (ii) one minus the quotient of
(x) the price per Class A ordinary share paid in such rights offering and (y) the historical fair market value. For these purposes, (i) if the rights offering is for securities convertible into or exercisable for Class A
ordinary shares, in determining the price payable for Class A ordinary shares, there will be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii)
“historical fair market value” means the volume weighted average price of Class A ordinary shares as reported during the 10 trading day period ending on the trading day prior to the first date on which the Class A ordinary shares
trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. 
 In addition, if we, at any time
while the warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to all or substantially all of the holders of the Class A ordinary shares on account of such Class A ordinary
shares (or other securities into which the warrants are convertible), other than (a) as described above, (b) any cash dividends or cash distributions which, when combined on a per share basis with all other cash dividends and cash
distributions paid on the Class 

 
A ordinary shares during the 365-day period ending on the date of declaration of such dividend or distribution does not exceed $0.50 (as adjusted to
appropriately reflect any other adjustments and excluding cash dividends or cash distributions that resulted in an adjustment to the exercise price or to the number of Class A ordinary shares issuable on exercise of each warrant) but only with
respect to the amount of the aggregate cash dividends or cash distributions equal to or less than $0.50 per share, (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 our amended and restated memorandum and articles of association (A) to modify the
substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our
initial business combination within 24 months from the closing of the Public Offering or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares, or (e) in connection with the
redemption of our public shares upon our failure to complete our initial business combination, then the warrant exercise price will be decreased, effective immediately after the effective date of such event, by the amount of cash and/or the fair
market value of any securities or other assets paid on each Class A ordinary share in respect of such event. 
 If the number of outstanding
Class A ordinary shares is decreased by a consolidation, combination, reverse share sub-division or reclassification of Class A ordinary shares or other similar event, then, on the effective date of
such consolidation, combination, reverse share sub-division, reclassification or similar event, the number of Class A ordinary shares issuable on exercise of each warrant will be decreased in proportion
to such decrease in outstanding Class A ordinary shares. 
 Whenever the number of Class A ordinary shares purchasable upon the exercise of the
warrants is adjusted, as described above, the warrant exercise price will be adjusted by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which will be the number of Class A
ordinary shares purchasable upon the exercise of the warrants immediately prior to such adjustment and (y) the denominator of which will be the number of Class A ordinary shares so purchasable immediately thereafter. 

In addition, if (x) we issue additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the
closing of our initial business combination at an issue price or effective issue price of less than $9.20 per ordinary share (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of
any such issuance to our sponsor or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds
from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination on the date of the consummation of our initial business combination (net of redemptions),
and (z) the volume weighted average trading price of our Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which we consummate our initial business combination (such price, the
“Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption trigger
price described above under “—Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00” and “—Redemption of warrants when the price per Class A ordinary shares equals or exceeds
$10.00” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price described above under “—Redemption of warrants when the
price per Class A ordinary share equals or exceeds $10.00” will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price. 

 In case of any reclassification or reorganization of the outstanding Class A ordinary shares (other
than those described above or that solely affects the par value of such Class A ordinary shares), or in the case of any merger or consolidation of us with or into another corporation (other than a consolidation or merger in which we are the
continuing corporation and that does not result in any reclassification or reorganization of our outstanding Class A ordinary shares), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of
us as an entirety or substantially as an entirety in connection with which we are dissolved, the holders of the warrants will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the
warrants and in lieu of the Class A ordinary shares immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of Class A ordinary shares or other securities or property
(including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the warrants would have received if such holder had exercised their
warrants immediately prior to such event. However, if such holders 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 for which each warrant will become exercisable will be deemed to be the weighted average of the kind and amount received per share by such holders in such consolidation or merger that affirmatively make such
election, and if a tender, exchange or redemption offer has been made to and accepted by such holders (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 redemption 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 will be entitled to receive 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 adjustment
(from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in the warrant agreement. If less than 70% of the consideration receivable by the holders of Class A ordinary
shares in such a transaction is payable in the form of Class A ordinary shares in the successor entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if the registered holder of the warrant properly exercises the warrant within thirty days following
public disclosure of such transaction, the warrant exercise price will be reduced as specified in the warrant agreement based on the Black-Scholes value (as defined in the warrant agreement) of the warrant. The purpose of such exercise price
reduction is to provide additional value to holders of the warrants when an extraordinary transaction occurs during the exercise period of the warrants pursuant to which the holders of the warrants otherwise do not receive the full potential value
of the warrants. The purpose of such exercise price reduction is to provide additional value to holders of the warrants when an extraordinary transaction occurs during the exercise period of the warrants pursuant to which the holders of the warrants
otherwise do not receive the full potential value of the warrants. 

 The warrants are issued in registered form under a warrant agreement between Continental Stock
Transfer & Trust Company, as warrant agent, and us. The warrant agreement provides that the terms of the warrants may be amended without the consent of any holder for the purpose of (i) curing any ambiguity or correct any mistake,
including to conform the provisions of the warrant agreement to the description of the terms of the warrants and the warrant agreement set forth in the prospectus dated January 21, 2021, or defective provision (ii) amending the provisions
relating to cash dividends on ordinary shares as contemplated by and in accordance with the warrant agreement or (iii) adding or changing any provisions with respect to matters or questions arising under the warrant agreement as the parties to
the warrant agreement may deem necessary or desirable and that the parties deem to not adversely affect the rights of the registered holders of the warrants, provided that the approval by the holders of at least 65% of the then-outstanding public
warrants is required to make any change that adversely affects the interests of the registered holders. You should review a copy of the warrant agreement, which has been filed as an exhibit to the registration statement filed with the SEC for our
Public Offering, for a complete description of the terms and conditions applicable to the warrants. 
 The warrant holders do not have the rights or
privileges of holders of ordinary shares and any voting rights until they exercise their warrants and receive Class A ordinary shares. After the issuance of Class A ordinary shares upon exercise of the warrants, each holder will be
entitled to one vote for each share held of record on all matters to be voted on by shareholders. 
 No fractional warrants were issued upon separation of
the units and only whole warrants are trading. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round down to the nearest whole number the number of Class A
ordinary shares to be issued to the warrant holder. 
 We have agreed that, subject to applicable law, any action, proceeding or claim against us arising
out of or relating in any way to the warrant agreement will 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 we irrevocably submit to such jurisdiction,
which jurisdiction will be the exclusive forum for any such action, proceeding or claim. See in the prospectus filed for our Public Offering “Risk Factors—Our warrant agreement will designate the courts of the State of New York or the
United States District Court for the Southern District of New York as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by holders of our warrants, which could limit the ability of warrant holders to
obtain a favorable judicial forum for disputes with our company.” This provision applies to claims under the Securities Act but does not apply to claims under the Exchange Act or any claim for which the federal district courts of the United
States of America are the sole and exclusive forum. 
 Private placement warrants 

Except as described below, the private placement warrants have terms and provisions that are identical to those of the warrants sold as part of the units in
the Public Offering. The private placement warrants (including the Class A ordinary shares issuable upon exercise of the private placement warrants) are not transferable, assignable or salable until 30 days after the completion of our initial
business combination (except pursuant to limited exceptions as described in the prospectus under “Principal Shareholders—Transfers of Founder Shares and Private Placement Warrants,” to our officers and directors and other persons or
entities affiliated with the initial purchasers of the private placement warrants) and they will not be redeemable by us (except as described under “—Warrants—Public Shareholders’ Warrants—Redemption of warrants when the
price per Class A ordinary share equals or exceeds $10.00”) so long as they are held by our sponsor or its permitted transferees (except as otherwise set forth herein). Our sponsor, or its permitted transferees, has the option to exercise
the private placement warrants on a cashless basis. If the private placement warrants are held by holders other than our sponsor or its permitted transferees, the private placement warrants will be redeemable by us in all redemption scenarios and
exercisable by the holders on the same basis as the warrants included in the units sold in the Public Offering. Any amendment to the terms of the private placement warrants or any provision of the warrant agreement with respect to the private
placement warrants will require a vote of holders of at least 65% of the number of the then outstanding private placement warrants. 
  

 Except as described above under “—Public Shareholders’ Warrants—Redemption of warrants
when the price per Class A ordinary share equals or exceeds $10.00,” if holders of the private placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering his, her or its warrants for
that number of Class A ordinary shares equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the “Sponsor fair market value”
(defined below) over the exercise price of the warrants by (y) the Sponsor fair market value. For these purposes, the “Sponsor fair market value” shall mean the average reported closing price of the Class A ordinary shares for
the 10 trading days ending on the third trading day prior to the date on which the notice of warrant exercise is sent to the warrant agent. The reason that we have agreed that these warrants will be exercisable on a cashless basis so long as they
are held by our sponsor and its permitted transferees is because it is not known at this time whether they will be affiliated with us following a business combination. If they remain affiliated with us, their ability to sell our securities in the
open market will be significantly limited. We have in place policies that restrict insiders from selling our securities except during specific periods of time. Even during such periods of time when insiders will be permitted to sell our securities,
an insider cannot trade in our securities if he or she is in possession of material non-public information. Accordingly, unlike public shareholders who could exercise their warrants and sell the Class A
ordinary shares received upon such exercise freely in the open market in order to recoup the cost of such exercise, the insiders could be significantly restricted from selling such securities. As a result, we believe that allowing the holders to
exercise such warrants on a cashless basis is appropriate. 
 In order to finance transaction costs in connection with a business combination, 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 may be required (“Working Capital Loans”). If the Company completes a business combination,
the Company would repay the Working Capital Loans out of the proceeds of the trust account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the trust account. In the event that a business
combination does not close, the Company may use a portion of proceeds held outside the trust account to repay the Working Capital Loans, but no proceeds held in the trust account would be used to repay the Working Capital Loans. The Working Capital
Loans would either be repaid upon consummation of a business combination, without interest, or, at the lender’s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into warrants of the post-business combination entity
at a price of $1.00 per warrant. The warrants would be identical to the Private Placement Warrants. 
 Dividends 

We have not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our initial business
combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to completion of our initial business combination. The payment of any
cash dividends subsequent to our initial business combination will be within the discretion of our board of directors at such time. On January 21, 2021, we effected a share capitalization with respect to our Class B ordinary shares,
resulting in our initial shareholders holding an aggregate of 8,625,000 Class B ordinary shares. If we incur any indebtedness in connection with a business combination, our ability to declare dividends may be limited by restrictive covenants we
may agree to in connection therewith. 

 Our Transfer Agent and Warrant Agent 

The transfer agent for our ordinary shares and warrant agent for our warrants is Continental Stock Transfer & Trust Company. We have agreed to
indemnify Continental Stock Transfer & Trust Company in its roles as transfer agent and warrant agent, its agents and each of its shareholders, directors, officers and employees against all claims and losses that may arise out of acts
performed or omitted for its activities in that capacity, except for any claims and losses due to any gross negligence or intentional misconduct of the indemnified person or entity. 

Certain Differences in Corporate Law 
 Cayman Islands
companies are governed by the Companies Act. The Companies Act is modeled on English Law but does not follow recent English Law statutory enactments, and differs from laws applicable to United States corporations and their shareholders. Set forth
below is a summary of the material differences between the provisions of the Companies Act applicable to us and the laws applicable to companies incorporated in the United States and their shareholders. 

Mergers and similar arrangements. In certain circumstances, the Companies Act allows for mergers or consolidations between two Cayman Islands
companies, or between a Cayman Islands exempted company and a company incorporated in another jurisdiction (provided that is facilitated by the laws of that other jurisdiction). 

Where the merger or consolidation is between two Cayman Islands companies, the directors of each company must approve a written plan of merger or
consolidation containing certain prescribed information. That plan or merger or consolidation must then be authorized by either (a) a special resolution (usually a majority of 66 2/3% in value of the voting shares voted at a general meeting) of
the shareholders of each company; or (b) such other authorization, if any, as may be specified in such constituent company’s articles of association. No shareholder resolution is required for a merger between a parent company (i.e., a
company that owns at least 90% of the issued shares of each class in a subsidiary company) and its subsidiary company. The consent of each holder of a fixed or floating security interest of a constituent company must be obtained, unless the court
waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the requirements of the Companies Act (which includes certain other formalities) have been complied with, the Registrar of Companies will register the plan of
merger or consolidation. 
 Where the merger or consolidation involves a foreign company, the procedure is similar, save that with respect to the foreign
company, the directors of the Cayman Islands exempted company are required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the merger or
consolidation is permitted or not prohibited by the constitutional documents of the foreign company and by the laws of the jurisdiction in which the foreign company is incorporated, and that those laws and any requirements of those constitutional
documents have been or will be complied with; (ii) that no petition or other similar proceeding has been filed and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign company in any jurisdictions;
(iii) that no receiver, trustee, administrator or other similar person has been appointed in any jurisdiction and is acting in respect of the foreign company, its affairs or its property or any part thereof; and (iv) that no scheme, order,
compromise or other similar arrangement has been entered into or made in any jurisdiction whereby the rights of creditors of the foreign company are and continue to be suspended or restricted. 

 Where the surviving company is the Cayman Islands exempted company, the directors of the Cayman Islands
exempted company are further required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the foreign company is able to pay its debts as they
fall due and that the merger or consolidated is bona fide and not intended to defraud unsecured creditors of the foreign company; (ii) that in respect of the transfer of any security interest granted by the foreign company to the surviving or
consolidated company (a) consent or approval to the transfer has been obtained, released or waived; (b) the transfer is permitted by and has been approved in accordance with the constitutional documents of the foreign company; and
(c) the laws of the jurisdiction of the foreign company with respect to the transfer have been or will be complied with; (iii) that the foreign company will, upon the merger or consolidation becoming effective, cease to be incorporated,
registered or exist under the laws of the relevant foreign jurisdiction; and (iv) that there is no other reason why it would be against the public interest to permit the merger or consolidation. 

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

Moreover, Cayman Islands law has separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances,
schemes of arrangement will generally be more suited for complex mergers or other transactions involving widely held companies, commonly referred to in the Cayman Islands as a “scheme of arrangement” which may be tantamount to a merger. In
the event that a merger was sought pursuant to a scheme of arrangement (the procedures for which are more rigorous and take longer to complete than the procedures typically required to consummate a merger in the United States), the arrangement in
question must be approved by a majority in number of each class of shareholders and creditors with whom the arrangement is to be made and who must in addition represent three-fourths in value of each such class of shareholders or creditors, as the
case may be, that are present and voting either in person or by proxy at a meeting, or meeting summoned for that purpose. The 

 
convening of the meetings and subsequently the terms of the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder would have the right to express
to the court the view that the transaction should not be approved, the court can be expected to approve the arrangement if it satisfies itself that: 
  

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

  

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

 

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

 

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

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

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

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

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

 

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

  

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

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

 Enforcement of civil liabilities. The Cayman Islands has a different body of securities laws as
compared to the United States and provides less protection to investors. Additionally, Cayman Islands companies may not have standing to sue before the Federal courts of the United States. 

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

 

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

  

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

 

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

 

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

 

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

  

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

	 	•	 	 Cayman Islands; 

  

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

 

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

 “Limited liability” means that the liability of each shareholder is limited to the amount unpaid
by the shareholder on the shares of the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to
pierce or lift the corporate veil). 
 Our Amended and Restated Memorandum and Articles of Association 

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

	 	•	 	 If we have not consummated an initial business combination within 24 months from the closing of the Public
Offering, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public shares, at a
per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay
our income taxes that were paid by us or are payable by us, if any (less up to $100,000 of interest to pay dissolution expenses) divided by the number of the then-outstanding public shares, which redemption will completely extinguish public
shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders
and our board of directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law;

  

	 	•	 	 Prior to or in connection with our initial business combination, we may not issue additional securities that
would entitle the holders thereof to (i) receive funds from the trust account or (ii) vote as a class with our public shares (a) on our initial business combination or on any other proposal presented to shareholders prior to or in
connection with the completion of an initial business combination or (b) to approve an amendment to our amended and restated memorandum and articles of association to (x) extend the time we have to consummate a business combination beyond
24 months from the closing of the Public Offering or (y) amend the foregoing provisions; 

  

	 	•	 	 If a shareholder vote on our initial business combination is not required by applicable law or stock exchange
listing requirements and we do not decide to hold a shareholder vote for business or other reasons, we will offer to redeem our public shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, and
will file tender offer documents with the SEC prior to completing our initial business combination which contain substantially the same financial and other information about our initial business combination and the redemption rights as is required
under Regulation 14A of the Exchange Act; 

	 	•	 	 So long as our securities are listed on Nasdaq, our initial business combination must occur with one or more
target businesses that together have an aggregate fair market value of at least 80% of the assets held in the trust account (excluding the amount of deferred underwriting discounts held in trust and taxes payable on the income earned on the trust
account) at the time of the agreement to enter into the initial business combination; 

  

	 	•	 	 If our shareholders approve an amendment to our amended and restated memorandum and articles of association
(A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public
shares if we do not complete our initial business combination within 24 months from the closing of the Public Offerin or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares, we will
provide our public shareholders with the opportunity to redeem all or a portion of their ordinary shares upon such approval at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any, divided by the number of the then-outstanding public shares, subject to the limitations
described herein; and 

  

	 	•	 	 We will not effectuate our initial business combination solely with another blank check company or a similar
company with nominal operations. 

 In addition, our amended and restated memorandum and articles of association provides that under no
circumstances will we redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001. 
 The Companies Act
permits a company incorporated in the Cayman Islands to amend its memorandum and articles of association with the approval of a special resolution which requires the approval of the holders of at least
two-thirds of such company’s issued and outstanding ordinary shares who attend and vote at a general meeting or by way of unanimous written resolution. A company’s articles of association may specify
that the approval of a higher majority is required but, provided the approval of the required majority is obtained, any Cayman Islands exempted company may amend its memorandum and articles of association regardless of whether its memorandum and
articles of association provide otherwise. Accordingly, although we could amend any of the provisions relating to our proposed offering, structure and business plan which are contained in our amended and restated memorandum and articles of
association, we view all of these provisions as binding obligations to our shareholders and neither we, nor our officers or directors, will take any action to amend or waive any of these provisions unless we provide dissenting public shareholders
with the opportunity to redeem their public shares. 
 Anti-money Laundering—Cayman Islands 

If any person in the Cayman Islands knows or suspects or has reasonable grounds for knowing or suspecting that another person is engaged in criminal conduct or
money laundering or is involved with terrorism or terrorist financing and property and the information for that knowledge or suspicion came to their attention in the course of business in the regulated sector, or other trade, profession, business or
employment, the person will be required to report such knowledge or suspicion to (i) the Financial Reporting Authority of the Cayman Islands, pursuant to the Proceeds of Crime Act (As Revised) of the Cayman Islands if the disclosure relates to
criminal conduct or money laundering, or (ii) a police officer of the rank of constable or higher, or the Financial Reporting Authority, pursuant to the Terrorism Act (As Revised) of the Cayman Islands, if the disclosure relates to involvement
with terrorism or terrorist financing and property. Such a report shall not be treated as a breach of confidence or of any restriction upon the disclosure of information imposed by any enactment or otherwise. 

 Data Protection—Cayman Islands 

We have certain duties under the Data Protection Act (As Revised) of the Cayman Islands (the “DPA”) based on internationally accepted principles of
data privacy. 
 Privacy Notice 
 Introduction

 This privacy notice puts our shareholders on notice that through your investment in the Company you will provide us with certain personal information
which constitutes personal data within the meaning of the DPA (“personal data”). In the following discussion, the “company” refers to us and our affiliates and/or delegates, except where the context requires otherwise. 

Investor data 
 We will collect, use, disclose, retain and
secure personal data to the extent reasonably required only and within the parameters that could be reasonably expected during the normal course of business. We will only process, disclose, transfer or retain personal data to the extent legitimately
required to conduct our activities of on an ongoing basis or to comply with legal and regulatory obligations to which we are subject. We will only transfer personal data in accordance with the requirements of the DPA, and will apply appropriate
technical and organizational information security measures designed to protect against unauthorized or unlawful processing of the personal data and against the accidental loss, destruction or damage to the personal data. 

In our use of this personal data, we will be characterized as a “data controller” for the purposes of the DPA, while our affiliates and service
providers who may receive this personal data from us in the conduct of our activities may either act as our “data processors” for the purposes of the DPA or may process personal information for their own lawful purposes in connection with
services provided to us. 
 We may also obtain personal data from other public sources. Personal data includes, without limitation, the following
information relating to a shareholder and/or any individuals connected with a shareholder as an investor: name, residential address, email address, contact details, corporate contact information, signature, nationality, place of birth, date of
birth, tax identification, credit history, correspondence records, passport number, bank account details, source of funds details and details relating to the shareholder’s investment activity. 

Who this affects 
 If you are a natural person, this will
affect you directly. If you are a corporate investor (including, for these purposes, legal arrangements such as trusts or exempted limited partnerships) that provides us with personal data on individuals connected to you for any reason in relation
your investment in the company, this will be relevant for those individuals and you should transmit the content of this Privacy Notice to such individuals or otherwise advise them of its content. 

How the company may use a shareholder’s personal data 

The company, as the data controller, may collect, store and use personal data for lawful purposes, including, in particular: 

 (a) where this is necessary for the performance of our rights and obligations under any purchase agreements;

 (b) where this is necessary for compliance with a legal and regulatory obligation to which we are subject (such as compliance with anti-money laundering
and FATCA/CRS requirements); and/or 
 (c) where this is necessary for the purposes of our legitimate interests and such interests are not overridden by
your interests, fundamental rights or freedoms. 
 Should we wish to use personal data for other specific purposes (including, if applicable, any purpose
that requires your consent), we will contact you. 
 Why we may transfer your personal data 

In certain circumstances we may be legally obliged to share personal data and other information with respect to your shareholding with the relevant regulatory
authorities such as the Cayman Islands Monetary Authority or the Tax Information Authority. They, in turn, may exchange this information with foreign authorities, including tax authorities. 

We anticipates disclosing personal data to persons who provide services to us and their respective affiliates (which may include certain entities located
outside the United States, the Cayman Islands or the European Economic Area), who will process your personal data on our behalf. 
 The data protection
measures we take 
 Any transfer of personal data by us or our duly authorized affiliates and/or delegates outside of the Cayman Islands shall be in
accordance with the requirements of the DPA. 
 We and our duly authorized affiliates and/or delegates shall apply appropriate technical and organizational
information security measures designed to protect against unauthorized or unlawful processing of personal data, and against accidental loss or destruction of, or damage to, personal data. 

We shall notify you of any personal data breach that is reasonably likely to result in a risk to your interests, fundamental rights or freedoms or those data
subjects to whom the relevant personal data relates. 
 Certain Anti-Takeover Provisions of Our Amended and Restated Memorandum and Articles of
Association 
 Our amended and restated memorandum and articles of association provides that our board of directors be classified into three classes of
directors. As a result, in most circumstances, a person can gain control of our board only by successfully engaging in a proxy contest at two or more annual general meetings. 

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

 Securities Eligible for Future Sale 

As of the date hereof, we have 34,500.000 ordinary shares that will be freely tradable without restriction or further registration under the Securities Act,
except for any Class A ordinary shares purchased by one of our affiliates within the meaning of Rule 144 under the Securities Act. All of the 8,625,000 outstanding founder shares and all of the 9,400,000 outstanding private placement warrants
are restricted securities under Rule 144, in that they were issued in private transactions not involving a public offering. 
 Rule 144 

Pursuant to Rule 144, a person who has beneficially owned restricted shares or warrants for at least six months would be entitled to sell their securities
provided that (i) such person is not deemed to have been one of our affiliates at the time of, or at any time during the three months preceding, a sale and (ii) we are subject to the Exchange Act periodic reporting requirements for at
least three months before the sale and have filed all required reports under Section 13 or 15(d) of the Exchange Act during the twelve months (or such shorter period as we were required to file reports) preceding the sale. 

Persons who have beneficially owned restricted shares or warrants for at least six months but who are our affiliates at the time of, or at any time during the
three months preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell within any three-month period only a number of securities that does not exceed the greater of: 

 

	 	•	 	 1% of the total number of ordinary shares then-outstanding, which equals 431,250 shares as of the date hereof; or

  

	 	•	 	 the average weekly reported trading volume of the Class A ordinary shares during the four calendar weeks
preceding the filing of a notice on Form 144 with respect to the sale. 

 Sales by our affiliates under Rule 144 are also limited by
manner of sale provisions and notice requirements and to the availability of current public information about us. 
 Restrictions on the Use of Rule 144
by Shell Companies or Former Shell Companies 
 Rule 144 is not available for the resale of securities initially issued by shell companies (other than
business combination related shell companies) or issuers that have been at any time previously a shell company. However, Rule 144 also includes an important exception to this prohibition if the following conditions are met: 

 

	 	•	 	 the issuer of the securities that was formerly a shell company has ceased to be a shell company;

  

	 	•	 	 the issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of the Exchange
Act; 

  

	 	•	 	 the issuer of the securities has filed all Exchange Act reports and material required to be filed, as applicable,
during the preceding twelve months (or such shorter period that the issuer was required to file such reports and materials), other than Form 8-K reports; and at least one year has elapsed from the time that
the issuer filed current Form 10 type information with the SEC reflecting its status as an entity that is not a shell company. 

 As a result, our sponsor will be able to sell its founder shares and private placement warrants, as
applicable, pursuant to Rule 144 without registration one year after we have completed our initial business combination. 
 Registration and Shareholder
Rights 
 The holders of the founder shares, private placement warrants and any warrants that may be issued upon conversion of working capital loans (and
any Class A ordinary shares issuable upon the exercise of the private placement warrants and warrants that may be issued upon conversion of working capital loans) will be entitled to registration rights pursuant to the registration and
shareholder rights agreement included as an exhibit to the Registration Statement filed with the SEC for our Public Offering. The holders of these securities are entitled to make up to three demands, excluding short form demands, that we register
such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to our completion of our initial business combination. However, the registration and
shareholder rights agreement provides that we will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lockup period, which occurs (i) in the case of the founder shares,
as described in the following paragraph, and (ii) in the case of the private placement warrants and the respective Class A ordinary shares underlying such warrants, 30 days after the completion of our initial business combination. We will
bear the expenses incurred in connection with the filing of any such registration statements. 
 Except as described herein, our sponsor and our directors
and executive officers have agreed not to transfer, assign or sell their founder shares until the earliest of (A) one year after the completion of our initial business combination and (B) subsequent to our initial business combination,
(x) if the closing price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the
like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination, or (y) the date on which we complete a liquidation, merger, share
exchange or other similar transaction that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property. Any permitted transferees will be subject to the same restrictions and
other agreements of our sponsor with respect to any founder shares. We refer to such transfer restrictions as the lock-up. 

In addition, pursuant to the registration and shareholder rights agreement, our sponsor, upon and following consummation of an initial business combination,
will be entitled to nominate three individuals for appointment to our board of directors, as long as the sponsor holds any securities covered by the registration and shareholder rights agreement. 

Listing of Securities 
 Our Units began trading on Nasdaq
on January 21, 2021. On March 10, 2021, we announced that holders of our Units could elect to separately trade the Class A ordinary shares and redeemable warrants included in the Units on March 15, 2021. Any Units not separated
continue to trade on Nasdaq under the symbol “JCICU.” Any underlying Class A ordinary shares and warrants that were separated trade on Nasdaq under the symbols “JCIC” and “JCICW,” respectively.

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