Document:

Exhibit 4.4

 

WARRANT AGREEMENT

 

This
Warrant Agreement (“Warrant Agreement”) is made as of [•], 2021, by and between Gardiner Healthcare Acquisitions
Corp., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company (the “Warrant
Agent”).

 

WHEREAS, the Company is engaged
in a public offering (the “Public Offering”) of 7,500,000 units (the “Units”) of the Company (and
up to 1,125,000 additional Units if the underwriters’ over-allotment option is exercised in full), each Unit consisting of one share
of common stock, par value $0.0001 per share (the “Common Stock”) and one warrant (the “Public Warrant”
or “Public Warrants”), each Public Warrant entitling its holder to purchase one share of Common Stock (the “Public
Warrant Shares”);

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1,
File No. 333- [•] (“Registration Statement”), and a prospectus
(the “Prospectus”), for the registration, under the Securities Act of 1933, as amended (“Securities Act”),
of, among other securities, the Public Warrants;

 

WHEREAS,
the Company has received a binding commitment from Gardiner Healthcare Holdings, LLC to purchase up to 2,775,000 warrants, Chardan Gardiner
LLC to purchase up to 475,714 warrants, and CCMAUS Pty Ltd. to purchase up to 449,286 warrants pursuant to the Private Placement Warrants
Purchase Agreements, dated as of [•], 2021 (collectively, the “Private Placement Warrants Purchase Agreements”),
and in connection therewith, will issue and deliver up to 3,700,000 warrants (the “Private Warrants”), each whole Private
Warrant entitling its holder to purchase one share of Common Stock (“Private Warrant Shares”, and together with the
Public Warrant Shares, the “Warrant Shares”);

 

WHEREAS,
the Company may issue up to an additional 1,500,000 redeemable warrants in satisfaction of certain working capital loans made by the Company’s
officers, directors, initial stockholders (as defined in the Prospectus) and their affiliates (“Working Capital Warrants”);

 

WHEREAS,
following consummation of the Public Offering, the Company may issue additional warrants (“Post IPO Warrants” and collectively
with the Public Warrants, Private Warrants and Working Capital Warrants, the “Warrants”) in connection with, or following
the consummation by the Company of, an initial business combination;

 

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

 

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

 

     

     

    

 

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

 

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

 

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

 

2.            Warrants.

 

2.1           Form of
Warrant. Each Warrant other than a Private Warrant shall be: (a) issued in registered form only, (b) in substantially the
form of Exhibit A hereto, the provisions of which are incorporated herein and (c) signed by, or bear the facsimile signature
of (i) the Chairman of the Board, the Chief Executive Officer, the President or a Vice President and (ii) the Chief Financial
Officer, Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the Company. In the event the person whose facsimile
signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such
Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2           Effect
of Countersignature. Unless and until countersigned by the Warrant Agent pursuant to this Warrant Agreement, a Warrant shall be invalid
and of no effect and may not be exercised by the holder thereof.

 

2.3           Registration.

 

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

 

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

 

     

     

    

 

2.4           Detachability
of Warrants. Each of the securities comprising the Units will begin to trade separately on (i) the 90th day after the effectiveness
of the Registration Statement, or (ii) such earlier date as Chardan Capital Markets, LLC, as representative of the underwriters (the
 “Representative”), shall determine is acceptable (such date, the “Detachment Date”). In no event
will separate trading of the securities comprising the Units commence until the Company (i) files a Current Report on Form 8-K
with the SEC including audited balance sheet reflecting the Company’s receipt of the gross proceeds of the Public Offering and (ii) issues
a press release announcing when such separate trading will begin.

 

2.5           Private
Warrants. The Private Warrants (i) will be exercisable either for cash or on a cashless basis at the holder’s option pursuant
to Section 3.3 hereof and (ii) will not be redeemable by the Company, in either case as long as the Private Warrants
are held by the initial purchasers or any of their permitted transferees (as prescribed in the Private Placement Warrants Purchase Agreements).
The Private Warrants may not be sold, transferred, assigned, pledged or hypothecated, or be the subject of any hedging, short sale, derivative,
put, or call transaction that would result in the effective economic disposition of, the Private Warrants (or any securities underlying
the Private Warrants) for a period of one hundred eighty (180) days following the effective date of the Registration Statement to anyone
other than any underwriter and selected dealer participating in the Public Offering and the officers or partners thereof, if all securities
so transferred remain subject to the lock-up restriction set forth above for the remainder of the time period.

 

3.            Terms
and Exercise of Warrants.

 

3.1           Warrant
Price. Each Warrant shall, when countersigned by the Warrant Agent, entitle the Registered Holder thereof, subject to the provisions
of such Warrant and of this Warrant Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at $11.50
per full share, subject to the adjustments provided in Section 4 hereof. The term “Warrant Price” as used in this
Warrant Agreement refers to the price per whole share at which shares of Common Stock may be purchased at the time such Warrant is exercised.
The Public Warrants may only be exercised for a whole number of Warrant Shares by a Registered Holder. The Company in its sole discretion
may lower the Warrant Price (including by allowing “cashless exercise”) at any time prior to the Expiration Date (as defined
below) for a period of not less than twenty (20) business days, provided, that the Company shall provide at least three (3) days
prior written notice of such reduction to Registered Holders of the Warrants and, provided further that any such reduction shall be identical
among all of the Warrants.

 

     

     

    

 

3.2           Duration
of Warrants. A Warrant may be exercised only during the period (“Exercise Period”) commencing on the later to occur
of (i) the completion of the Company’s initial business combination and (ii) 12 months following the closing of the Public
Offering, and terminating at 5:00 p.m., New York City time, on the earlier to occur of (i) (A) five years following the completion
of the Company’s initial business combination, other than the Private Warrants purchased by Chardan Gardiner LLC, and (B) five
years from the effective date of the Registration Statement with respect to the Private Warrants purchased by Chardan Gardiner LLC, provided
that once the Private Warrants are not beneficially owned by Chardan Gardiner LLC or any of its related persons anymore, the Private Warrants
may not be exercised five years following the completion of the Company’s initial business combination, and (ii) the date fixed
for redemption of the Warrants as provided in Section 6 of this Warrant Agreement (“Expiration Date”). Except
with respect to the right to receive the Redemption Price (as set forth in Section 6 hereunder), each Warrant not exercised on or
before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Warrant Agreement
shall cease at the close of business on the Expiration Date. The Company may extend the duration of the Warrants by delaying the Expiration
Date; provided, however, that the Company will provide written notice of not less than 10 days to Registered Holders of such extension
and that such extension shall be identical in duration among all of the then outstanding Warrants. Notwithstanding the above, the Private
Warrants (and the Private Warrant Shares that are issuable upon exercise of the Private Warrants) to be purchased by Chardan Gardiner
LLC have been deemed compensation by Financial Industry Regulatory Authority, Inc. (“FINRA”) and are therefore subject
to a 180-day lock-up described in the following sentence pursuant to FINRA Rule 5110(e)(1) commencing on the effective date
of the Registration Statement as long as Chardan Capital Markets, LLC or any of its related persons beneficially own these Private Warrants.
Pursuant to FINRA Rule 5110(e)(1), the Private Warrants (and the Private Warrant Shares that are issuable upon exercise of the Private
Warrants) purchased by Chardan Gardiner LLC will not be sold during the Public Offering, or sold, transferred, assigned, pledged, or hypothecated,
or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of such
securities by any person for a period of 180 days immediately following the effective date of the Registration Statement, except to any
underwriter and selected dealer participating in the Public Offering made pursuant to the Registration Statement and their bona fide officers
or partners, provided that all such securities so transferred remain subject to the lockup restriction above for the remainder of the
time period.

 

3.3           Exercise
of Warrants.

 

3.3.1        Cash
Exercise. Subject to the provisions of the Warrant and this Warrant Agreement, a Warrant, when countersigned by the Company, may be
exercised by the Registered Holder thereof by surrendering it at the office of the Warrant Agent, or at the office of its successor as
Warrant Agent, currently being:

 

Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Compliance Department

 

with the subscription form, as set forth in the
Warrant, duly executed, and by paying in full, in lawful money of the United States, by certified or bank cashier’s check payable
to the order of the Warrant Agent or by wire transfer to the Warrant Agent’s bank account, the Warrant Price for each whole Warrant
Share as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange
of the Warrant for the Warrant Shares, and the issuance of the Warrant Shares (such exercise, a “Cash Exercise”). A
Cash Exercise in accordance with this Section 3.3.1 is available to the Registered Holder only during such times that there is an
effective registration statement registering the Warrant Shares, with the prospectus contained therein being available for the resale
of the Warrant Shares.

 

3.3.2        Cashless
Exercise. Subject to Section 2.4, notwithstanding anything contained herein to the contrary, if there is no effective registration
statement registering the Warrant Shares on any day the Registered Holder desires to exercise the Warrants and more than 120 days have
passed since the Company completed its initial business combination, the Registered Holder may exercise the Warrants in whole or in part
in lieu of making a cash payment for whole numbers of Warrant Shares, by providing notice to the Chief Financial Officer of the Company
in a subscription form of its election to utilize cashless exercise, in which event the Company shall issue to the holder the number of
Warrant Shares determined as follows:

 

X = Y [(A-B)/A]

 

where:

 

X = the number of Warrant Shares to be issued to the holder.

Y = the number of Warrant Shares with respect to which this
Warrant is being exercised.

A = the fair market value of one share of Common Stock.

B = the Warrant Price.

 

     

     

    

 

The Registered Holder may not exercise any Warrants
in the absence of a registration statement except pursuant to this Section 3.3.2. For purposes of this Section 3.3.2
and Section 4.1, the fair market value of one share of Common Stock is defined as follows:

 

		(i)	if the Company’s shares of Common Stock are listed and traded on the New York Stock Exchange, the
NYSE American, the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market (each, a “Trading Market”),
the fair market value shall be deemed the average reported last sale price of the shares of Common Stock on such Trading Market for the
10 trading days ending on the day prior to the date the subscription form is submitted to the Company in connection with the exercise
of the Warrant; or

 

		(ii)	if the Company’s shares of Common Stock are not listed on a Trading Market, but is traded in the
over-the-counter market, the fair market value shall be deemed to be the average of the bid price on such Trading Market for the 10 trading
days ending on the day prior to the date the subscription form is submitted in connection with the exercise of the Warrant; or

 

		(iii)	if there is no active public market for the Company’s shares of Common Stock, the fair market value
of the shares of Common Stock shall be determined in good faith by the Company’s board of directors.

 

3.3.3      Fractional
Shares. Notwithstanding any provision to the contrary contained in this Warrant Agreement, the Company shall not be required to issue
any fraction of a Warrant Share in connection with the exercise of Warrants, and in any case where the Registered Holder would be entitled
under the terms of the Warrants to receive a fraction of a Warrant Share upon the exercise of such Registered Holder’s Warrants,
issue or cause to be issued only the largest whole number of Warrant Shares issuable on such exercise (and such fraction of a Warrant
Share will be disregarded); provided, that if more than one Warrant certificate is presented for exercise at the same time by the same
Registered Holder, the number of whole Warrant Shares which shall be issuable upon the exercise thereof shall be computed on the basis
of the aggregate number of Warrant Shares issuable on exercise of all such Warrants.

 

     

     

    

 

3.3.4        Issuance
of Certificates. No later than three (3) business days following the exercise of any Warrant and the clearance of the funds in
payment of the Warrant Price pursuant to Section 3.3.1 or cashless exercise pursuant to Section 3.3.2, the Company shall issue,
or cause to be issued, to the Registered Holder of such Warrant a certificate or certificates representing (or at the option of the Registered
Holder, deliver electronically through the facilities of the Depository Trust Corporation) the number of full shares of Common Stock to
which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and, if such Warrant shall not
have been exercised or surrendered in full, a new countersigned Warrant for the number of shares as to which such Warrant shall not have
been exercised or surrendered. Notwithstanding the foregoing, the Company shall not deliver, or cause to be delivered, any securities
without applicable restrictive legend pursuant to the exercise of a Warrant unless (a) a registration statement under the Securities
Act with respect to the shares of Common Stock issuable upon exercise of such Warrants is effective and a current prospectus relating
to the shares of Common Stock issuable upon exercise of the Warrants is available for delivery to the Registered Holder of the Warrant
or (b) in the opinion of counsel to the Company, the exercise of the Warrants is exempt from the registration requirements of the
Securities Act and such securities are qualified for sale or exempt from qualification under applicable securities laws of the states
or other jurisdictions in which the Registered Holder resides. Warrants may not be exercised by, or securities issued to, any Registered
Holder in any state in which such exercise or issuance would be unlawful. In addition, in no event will the Company be obligated to pay
such Registered Holder any cash consideration upon exercise or otherwise “net cash settle” the Warrant.

 

3.3.5       Valid
Issuance. All shares of Common Stock issued upon the proper exercise or surrender of a Warrant in conformity with this Warrant Agreement
shall be validly issued, fully paid and non-assessable.

 

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

 

     

     

    

 

3.3.7       Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained
in this subsection 3.3.7; however, no holder of a Warrant shall be subject to this subsection 3.3.7 unless he, she or it makes such election.
If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall
not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such
person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 4.99% or 9.99% (or such
other amount as such person may specify) (each, a “Maximum Percentage”) of the shares of Common Stock outstanding immediately
after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially
owned by such person and its affiliates shall include the number of shares of Common Stock issuable upon exercise of the Warrant with
respect to which the determination of such sentence is being made, but shall exclude the shares of Common Stock that would be issuable
upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise
or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such person and its
affiliates (including, without limitation, any convertible notes or convertible preferred shares or warrants) subject to a limitation
on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of
this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the number of outstanding shares
of Common Stock, the holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the Company’s
most recent annual report on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or other public filing
with the SEC as the case may be, (2) a more recent public announcement by the Company, or (3) any other notice by the Company
or the Warrant Agent setting forth the number of shares of Common Stock outstanding. For any reason at any time, upon the written request
of the holder of the Warrant, the Company shall, within two (2) business days, confirm orally and in writing to such holder the number
of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving
effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the date as of which such
number of outstanding shares of Common Stock was reported. By written notice to the Company, the holder of a Warrant may from time to
time increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified in such notice; provided,
however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company.

 

4.            Adjustments.

 

4.1            Stock
Dividends, Splits. If, after the date hereof, and subject to the provisions of Section 4.5 below, the number of outstanding shares
of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a forward or reverse split of shares of Common
Stock, or other similar event, then, on the effective date of such stock dividend, split or similar event, the number of shares of Common
Stock issuable on exercise of each Warrant shall be increased or decreased in proportion to such increase or decrease in outstanding shares
of Common Stock. A rights offering to all holders of the shares of Common Stock entitling holders to purchase shares of Common Stock at
a price less than the fair market value shall be deemed a stock dividend of a number of shares of Common Stock equal to the product of
(i) the number of shares of Common Stock actually sold in such rights offering (or issuable under any other equity securities sold
in such rights offering that are convertible into or exercisable for the shares of Common Stock) multiplied by (ii) one (1) minus
the quotient of (x) the price per share of Common Stock paid in such rights offering divided by (y) the fair market value. For
purposes of this subsection 4.1, if the rights offering is for securities convertible into or exercisable for shares of Common Stock,
in determining the price payable for the shares of Common Stock, there shall be taken into account any consideration received for such
rights, as well as any additional amount payable upon exercise or conversion.

 

     

     

    

 

4.2            Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 4.6, the number of outstanding shares of Common
Stock is decreased by a consolidation, combination or reclassification of shares of Common Stock or other similar event, then, on the
effective date of such consolidation, combination, reclassification or similar event, the number of shares of Common Stock issuable on
exercise of each Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock.

 

4.3           Extraordinary
Dividends. If the Company, at any time while the Warrants (or rights to purchase the Warrants) are outstanding and unexpired, shall
pay a dividend or make a distribution in cash, securities or other assets to the holders of the shares of Common Stock on account of such
shares of Common Stock (or other shares of the Company’s capital stock into which the Warrants are convertible), other than (a) as
described in subsection 4.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the conversion rights of the
holders of the shares of Common Stock in connection with a proposed initial business combination or vote to extend the time period to
complete an initial business combination, (d) as a result of the repurchase of shares of Common Stock by the Company in connection
with an initial business combination or as otherwise permitted by the Investment Management Trust Agreement between the Company and the
Warrant Agent dated of even date herewith or (e) in connection with the Company’s liquidation and the distribution of its assets
upon its failure to consummate a business combination (any such non-excluded event being referred to herein as an “Extraordinary
Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend,
by the amount of cash and the fair market value (as determined by the Company’s board of directors, in good faith) of any securities
or other assets paid on each share of Common Stock in respect of such Extraordinary Dividend. For purposes of this subsection 4.3, “Ordinary
Cash Dividends” means any cash dividend or cash distribution which, when combined on a per share basis with the per share amounts
of all other cash dividends and cash distributions paid on the shares of Common Stock during the 365-day period ending on the date of
declaration of such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections
of this Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the
number of shares of Common Stock issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units
in the Public Offering).

 

4.4           Adjustments
in Exercise Price.

 

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

 

     

     

    

 

4.4.2        If
(i) the Company issues additional shares of Common Stock or equity-linked securities for capital raising purposes in connection with
the closing of its initial business combination at an issue price or effective issue price of less than $9.20 per share of Common Stock
(with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case
of any such issuance to the Company’s initial stockholders or their affiliates, without taking into account any founder shares (as
defined in the Prospectus) or Private Warrants held by them, 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 the Company’s initial business combination on the date of the completion of its initial business combination
(net of redemptions), and (z) the volume-weighted average trading price of the Common Stock during the 20 trading day period starting
on the trading day prior to the day on which the Company completes its initial business combination (such price, the “Market Value”)
is below $9.50 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 and the $16.50 per share redemption trigger price will be adjusted (to the nearest cent)
to be equal to 165% of the higher of the Market Value and the newly issued price.

 

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

 

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

 

     

     

    

 

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

 

4.8           Notice
of Certain Transactions. In the event that the Company shall (a) offer to holders of all its shares of Common Stock rights to
subscribe for or to purchase any securities convertible into shares of Common Stock or shares of stock of any class or any other securities,
rights or options, (b) issue any rights, options or warrants entitling all the holders of shares of Common Stock to subscribe for
shares of Common Stock, or (c) make a tender offer, redemption offer or exchange offer with respect to the shares of Common Stock,
the Company shall send to the Registered Holders a notice of such action or offer. Such notice shall be mailed to the Registered Holders
at their addresses as they appear in the Warrant Register, which shall specify the record date for the purposes of such dividend, distribution
or rights, or the date such issuance or event is to take place and the date of participation therein by the holders of shares of Common
Stock, if any such date is to be fixed, and shall briefly indicate the effect of such action on the shares of Common Stock and on the
number and kind of any other shares of stock and on other property, if any, and the number of shares of Common Stock and other property,
if any, issuable upon exercise of each Warrant and the Warrant Price after giving effect to any adjustment pursuant to this Section 4
which would be required as a result of such action. Such notice shall be given as promptly as practicable after the Company has taken
any such action.

 

5.            Transfer
and Exchange of Warrants.

 

5.1           Transfer
of Warrants. Prior to the Detachment Date, the Warrants may be transferred or exchanged only together with the Unit in which such
Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore,
each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such Unit. From
and after the Detachment Date, this Section 5.1 will have no further force and effect.

 

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

 

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

 

     

     

    

 

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

 

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

 

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

 

6.            Redemption.

 

6.1           Redemption.
All (and not less than all) of the outstanding Warrants may be redeemed, in whole and not in part, at the option of the Company, at any
time from and after the Warrants become exercisable, and prior to their expiration, at the office of the Warrant Agent, upon the notice
referred to in Section 6.2, at the price of $0.01 per Warrant (“Redemption Price”); provided that the last sales
price of the shares of Common Stock has been equal to or greater than $16.50 per share (subject to adjustment for splits, dividends, recapitalizations
and other similar events), for any twenty (20) trading days within a thirty (30) trading day period ending on the third business day prior
to the date on which notice of redemption is given and provided further that there is a current registration statement in effect with
respect to the shares of Common Stock underlying the Warrants for each day in the aforementioned 30-day trading period and continuing
each day thereafter until the Redemption Date (defined below). For avoidance of doubt, if and when the warrants become redeemable by the
Company under this Section 6.1, the Company may exercise its redemption right, even if it is unable to register or qualify the Warrant
Shares for sale under all applicable state securities laws.

 

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

 

     

     

    

 

6.3           Exercise
After Notice of Redemption. The Warrants may be exercised in accordance with Section 3 of this Warrant Agreement at any time
after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and prior to the Redemption Date;
provided that the Company may require the Registered Holder who desires to exercise the Warrant to elect cashless exercise as set forth
under Section 3.3.2, and such Registered Holder must exercise the Warrants on a cashless basis if the Company so requires. On and
after the Redemption Date, the Registered Holder of the Warrants shall have no further rights except to receive, upon surrender of the
Warrants, the Redemption Price.

 

6.4           No
Other Rights to Cash Payment. Except for a redemption in accordance with this Section 6, no Registered Holder of any Warrant
shall be entitled to any cash payment whatsoever from the Company in connection with the ownership, exercise or surrender of any Warrant
under this Warrant Agreement.

 

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

 

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

 

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

 

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

 

7.4           Registration
of Shares of Common Stock. The Company agrees that as soon as practicable after the closing of a business combination, it shall use
its best efforts to file with the SEC a registration statement for the registration under the Securities Act of the shares of Common Stock
issuable upon exercise of the Warrants, and to cause the same to become effective and to maintain the effectiveness of such registration
statement, and a current prospectus relating thereto, until the expiration of the Warrants in accordance with the provisions of this Warrant
Agreement. In addition, the Company agrees to use its best efforts to register the shares of Common Stock issuable upon exercise of the
Warrants under state blue sky laws, to the extent an exemption is not available.

 

8.            Concerning
the Warrant Agent and Other Matters.

 

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

 

     

     

    

 

8.2           Resignation,
Consolidation, or Merger of Warrant Agent.

 

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

 

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

 

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

 

8.3           Fees
and Expenses of Warrant Agent.

 

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

 

     

     

    

 

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

 

8.4           Liability
of Warrant Agent.

 

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

 

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

 

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

 

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

 

8.6          Waiver.
The Warrant Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”) in
or to any distribution of the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof,
by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment
or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

     

     

    

 

9.            Miscellaneous
Provisions.

 

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

 

9.2          Notices.
Any notice, statement or demand authorized by this Warrant Agreement to be given or made by the Warrant Agent or by the Registered Holder
of any Warrant to or on the Company shall be delivered by hand or sent by registered or certified mail or overnight courier service, addressed
(until another address is filed in writing by the Company with the Warrant Agent) as follows:

 

Gardiner Healthcare Acquisitions Corp.

3107 Warrington Road

Shaker Heights, OH 44120

Attn: Chief Executive Officer

 

with a copy (which shall not constitute notice) to:

 

Reed Smith
LLP

599 Lexington
Avenue

22nd Floor

New York,
NY 10022

Attn: Ari
Edelman, Esq.

 

Any notice, statement or demand authorized by
this Warrant Agreement to be given or made by the Registered Holder of any Warrant or by the Company to or on the Warrant Agent shall
be delivered by hand or sent by registered or certified mail or overnight courier service, addressed (until another address is filed in
writing by the Warrant Agent with the Company), as follows:

 

Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

 

Any notice, sent pursuant to this Warrant Agreement
shall be effective, if delivered by hand, upon receipt thereof by the party to whom it is addressed, if sent by overnight courier, on
the next business day of the delivery to the courier, and if sent by registered or certified mail on the third day after registration
or certification thereof.

 

     

     

    

 

9.3           Applicable
Law. The validity, interpretation, and performance of this Warrant Agreement and of the Warrants shall be governed in all respects
by the laws of the State of New York, without giving effect to conflict of laws. Subject to applicable law, the Company and the Warrant
Agent hereby agree that any action, proceeding or claim against either of them arising out of or relating in any way to this Warrant Agreement
may be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New
York, and irrevocably submits to such jurisdiction, which jurisdiction shall be a non-exclusive forum for any such action, proceeding
or claim). The Company and the Warrant Agent hereby waive any objection that such courts represent an inconvenient forum. The provisions
of this paragraph will not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other claim for
which the federal district courts of the United States of America are the sole and exclusive forum.

 

Any such process or summons to be served upon
the Company or the Warrant Agent may be served by transmitting a copy thereof by registered or certified mail, return receipt requested,
postage prepaid, addressed to it at the address set forth in Section 9.2 hereof. Such mailing shall be deemed personal service
and shall be legal and binding upon the party receiving such service in any action, proceeding or claim.

 

9.4           Persons
Having Rights under this Warrant Agreement. Nothing in this Warrant Agreement expressed and nothing that may be implied from any of
the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties
hereto and the Registered Holders of the Warrants and, for the purposes of Sections 2.5 hereof, the Representative and the underwriters,
any right, remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement
hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Warrant Agreement shall be for the sole and
exclusive benefit of the parties hereto and their successors and assigns and of the Registered Holders of the Warrants.

 

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

 

9.6           Counterparts-
Facsimile Signatures. This Warrant Agreement may be executed in any number of counterparts, and each of such counterparts shall, for
all purposes, be deemed to be an original, and all such counterparts shall together constitute one and the same instrument. Facsimile
signatures shall constitute original signatures for all purposes of this Warrant Agreement.

 

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

 

     

     

    

 

9.8           Amendments.
This Warrant Agreement and any Warrant certificate may be amended by the parties hereto by executing a supplemental warrant agreement,
without the consent of any of the Warrant holders, for the purpose of (i) curing any ambiguity, or curing, correcting or supplementing
any defective provision contained herein, or making any other provisions with respect to matters or questions arising under this Warrant
Agreement that is not inconsistent with the provisions of this Warrant Agreement or the Warrant certificates, (ii) evidencing the
succession of another corporation to the Company and the assumption by any such successor of the covenants of the Company contained in
this Warrant Agreement and the Warrants, (iii) evidencing and providing for the acceptance of appointment by a successor Warrant
Agent with respect to the Warrants, (iv) adding to the covenants of the Company for the benefit of the Registered Holders or surrendering
any right or power conferred upon the Company under this Warrant Agreement, or (viii) amending this Warrant Agreement and the Warrants
in any manner that the Company may deem to be necessary or desirable and that will not adversely affect the interests of the Registered
Holders in any material respect. All other modifications or amendments to this Warrant Agreement, including any amendment to increase
the Warrant Price or shorten the Exercise Period, shall require the written consent of the Registered Holders of a majority of the then
outstanding Warrants. Notwithstanding the foregoing, the Company may extend the duration of the Exercise Period in accordance with Section 3.2
without such consent.

 

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

 

[SIGNATURE PAGE FOLLOWS]

 

     

     

    

 

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

 

	 	GARDINER HEALTHCARE ACQUISITIONS CORP.
	 	 
	 	 
	 	By: 	                            
	 	Name: Marc F. Pelletier
	 	Title: Chief Executive Officer
	 	 
	 	 
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 
	 	 
	 	By: 	 
	 	Name: [•]
	 	Title: [•]

 

[Signature Page to Warrant Agreement]

 

     

     

    

 

Exhibit A

 

Form of Warrant

 

 

 

See attached.Exhibit 10.1

 

[●], 2021

 

Gardiner Healthcare Acquisitions
Corp.

1307 Warrington Road

Shaker Heights, OH 44120

 

Chardan Capital Markets, LLC

17 State Street, 21st Floor

New York, NY 10004

 

Re: Initial Public
Offering

 

 Ladies and Gentlemen: 

 

This letter is being delivered
to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered into by and between
Gardiner Healthcare Acquisitions Corp., a Delaware corporation (the “Company”) and Chardan Capital Markets,
LLC, as representative (the “Representative”) of the Underwriters named in Schedule A thereto (the “Underwriters”),
relating to an underwritten initial public offering (the “IPO”) of the Company’s units (the “Units”),
each comprised of one share of Common Stock of the Company, par value $0.0001 per share (the “Common Stock”)
and one warrant, with each warrant being exercisable to purchase one share of Common Stock at a price of $11.50 per full share (“Warrant”).
Certain capitalized terms used herein are defined in paragraph 15 hereof.

 

In order to induce the Company
and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such
IPO will confer upon each of the undersigned as a stockholder of the Company, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, each of the undersigned hereby agrees with the Company as follows:

 

1.                 
If the Company solicits approval of its stockholders of a Business Combination, each of the undersigned will vote all shares
of Common Stock beneficially owned by it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

    1

     

    

 

2.                  To
the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 1,125,000 Units (as
described in the Registration Statement), (a) Gardiner Healthcare Holdings, LLC (“Gardiner Healthcare”)
agrees that it shall forfeit, at no cost, a number of Founder Shares in the aggregate equal to 182,812 multiplied by a fraction, (i)
the numerator of which is 1,125,000 minus the number of Units purchased by the Underwriters upon the exercise of their
over-allotment option and (ii) the denominator of which is 1,125,000, (b) Chardan Gardiner LLC agrees that it shall forfeit, at no
cost, a number of Founder Shares in the aggregate equal to 50,625 multiplied by a fraction, (i) the numerator of which is 1,125,000
minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option and (ii) the denominator of
which is 1,125 ,000 and (c) CCMAUS Pty Ltd agrees that it shall forfeit, at no cost, a number of Founder Shares in the aggregate
equal to 47,813 multiplied by a fraction, (i) the numerator of which is 1,125,000 minus the number of Units purchased by the
Underwriters upon the exercise of their over-allotment option and (ii) the denominator of which is 1,125,000. All references in this
letter to Founder Shares of the Company being forfeited shall take effect as a contribution of such Founder Shares to the
Company’s capital as a matter of Delaware law. The forfeiture will be adjusted to the extent that the over-allotment option is
not exercised in full by the Underwriters so that the number of Founder Shares will equal an aggregate of 20.0% of the
Company’s issued and outstanding IPO Shares and Founder Shares after the IPO. The undersigned further agrees that to the
extent that the size of the IPO is increased or decreased, the Company will effect a capitalization or stock repurchase or
redemption, as applicable, immediately prior to the consummation of the IPO in such amount as to maintain the number of Founder
Shares at 20.0% of the Company’s issued and outstanding IPO Shares and Founder Shares upon the consummation of the IPO. In
connection with such increase or decrease in the size of the IPO, then (A) the references to 1,125,000 in the numerator and
denominator of the formula in the first sentence of this paragraph shall be changed to a number equal to 15.0% of the number of
shares of Common Stock included in the Units issued in the IPO, (B) the reference to 182,812, 50,625 and 47,813 in the formula set
forth in the first sentence of this paragraph shall be adjusted to, respectively, (i) the total number of Founder Shares that
Gardiner Healthcare would have to return to the Company in order for the number of Founder Shares that Gardiner Healthcare owns
(together with the Insiders) to equal an aggregate of 12.3% of the Company’s issued and outstanding IPO Shares and Founder
Shares after the IPO, (ii) the total number of Founder Shares that Chardan Gardiner LLC would have to return to the Company in order
for the number of Founder Shares that Chardan Gardiner LLC owns (together with Insiders) to equal an aggregate of 3.4% of the
Company’s issued and outstanding IPO Shares and Founder Shares after the IPO, and (iii) the total number of Founder Shares
that CCMAUS Pty Ltd would have to return to the Company in order for the number of Founder Shares that CCMAUS Pty Ltd owns (together
with Insiders) to equal an aggregate of 3.2% of the Company’s issued and outstanding IPO Shares and Founder Shares after the
IPO.

 

3.                 
The undersigned agrees that the Founder Shares and Private Warrants held by it, and any shares of Common Stock issued upon
conversion or exercise thereof, shall not be sold during the IPO, or sold, transferred, assigned, pledged, or hypothecated, or be the
subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of such
securities by any person for a period of 180 days immediately following the date of effectiveness of the Registration Statement or commencement
of sales of the IPO, except to any underwriter and selected dealer participating in the IPO and their bona fide officers or partners;
provided that all securities so transferred remain subject to the foregoing lockup restriction for the remainder of the time period.

 

4.                 
 

 

(a)               In
the event that the Company fails to consummate a Business Combination within 12 months (or in the event the Company extends the time
to complete a Business Combination as described in the Registration Statement, 15 or 18 months) from the closing of the
Company’s IPO, or such later period approved by the Company’s stockholders in accordance with the Company’s
amended and restated certificate of incorporation, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be
liquidated and distributed to the holders of IPO Shares and (ii) cause the Company to liquidate as promptly as reasonably possible
but not more than five business days after the date the Company is required to consummate a Business Combination.

 

    2

     

    

 

(b)              
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust
Fund and any remaining net assets of the Company as a result of such liquidation with respect to any shares it owns, including its Insider
Shares, IPO Shares and Private Warrants, purchased during or after the offering, if any (“Claim”), and hereby
waives any Claim the undersigned may have in the future as a result of, or arising out of, any contracts or agreements with the Company
and will not seek recourse against the Trust Fund for any reason whatsoever. Each of the undersigned acknowledges and agrees that there
will be no distribution from the Trust Fund with respect to any Common Stock underlying the Private Warrants, all rights of which will
terminate on the Company’s liquidation.

 

(c)              
In the event of the liquidation of the Trust Fund, Gardiner Healthcare agrees to indemnify and hold harmless the Company
against any and all loss, liability, claims, damage and expense whatsoever (including, but not limited to, any and all legal or other
expenses reasonably incurred in investigating, preparing or defending against any litigation, whether pending or threatened, or any claim
whatsoever) which the Company may become subject as a result of any claim by any vendor or other person who is owed money by the Company
for services rendered or products sold or contracted for, but only to the extent necessary to ensure that such loss, liability, claim,
damage or expense does not reduce the amount of funds in the Trust Fund; provided, that such indemnity shall not apply if such
vendor or other person has executed an agreement waiving any claims against the Trust Fund.

 

(d)              
In the event that the Company does not consummate a Business Combination and must liquidate and its remaining net assets
are insufficient to complete such liquidation, Gardiner Healthcare agrees to advance such funds necessary to complete such liquidation
and agrees not to seek repayment for such expenses.

 

5.                  Each
of the undersigned will place into escrow all of its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the
Company will enter into with the undersigned and an escrow agent acceptable to the Company. Each of the undersigned agrees that
during the escrow period, the undersigned shall not sell or transfer its Insider Shares except (1) to any persons (including their
affiliates and stockholders) participating in the private placement of the Private Warrants, officers, directors, stockholders,
employees and members of Gardiner Healthcare, Chardan Gardiner LLC, and CCMAUS Pty Ltd and their affiliates, (2) amongst initial
stockholders or to the Company’s officers, directors and employees, (3) if a holder is an entity, as a distribution to its,
partners, stockholders or members upon its liquidation, (4) by bona fide gift to a member of the holder’s immediate family or
to a trust, the beneficiary of which is a holder or a member of a holder’s immediate family, for estate planning purposes, (5)
by virtue of the laws of descent and distribution upon death, (6) pursuant to a qualified domestic relations order, (7) by certain
pledges to secure obligations incurred in connection with purchases of the Company’s securities, (8) by private sales at
prices no greater than the price at which the shares were originally purchased or (9) for the cancellation of up to 281,250 shares
of Common Stock subject to forfeiture to the extent that the Underwriters’ over-allotment option is not exercised in full or
in part or in connection with the consummation of the Company’s initial Business Combination, in each case (except for clause
9 or with the prior consent of the Representative) where the transferee agrees to the terms of the escrow agreement and this insider
letter.

 

    3

     

    

 

6.                 
Each of the undersigned agrees that until the Company consummates a Business Combination, its Private Warrants will be subject
to the transfer restrictions described in the Private Placement Warrants Purchase Agreement relating to its Private Warrants.

 

7.                 
[RESERVED]

 

8.                 
The undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is
affiliated with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, such transaction
must be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from
an independent investment banking firm that such Business Combination is fair to the Company’s unaffiliated stockholders from a
financial point of view.

 

9.                 
Neither Gardiner Healthcare nor any affiliate of Gardiner Healthcare will be entitled to receive or accept a finder’s
fee or any other compensation in the event Gardiner Healthcare or any affiliate of Gardiner Healthcare originates a Business Combination.

 

10.             
Each of the undersigned’s FINRA Questionnaire previously furnished to the Company and the Representative is true and
accurate in all material respects. Each of the undersigned represents and warrants that:

 

(a)              
it has never had a petition under the federal bankruptcy laws or any state insolvency law filed by or against (i) it or
any partnership in which it was a general partner at or within two years before the time of filing; or (ii) any corporation or business
association of which it was an executive officer at or within two years before the time of such filing;

 

(b)              
it has never had a receiver, fiscal agent or similar officer appointed by a court for its business or property, or any such
partnership;

 

(c)              
it has never been convicted of fraud in a civil or criminal proceeding;

 

(d)              
it has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic
violations and minor offenses);

 

(e)               it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of
competent jurisdiction, permanently or temporarily enjoining or otherwise limiting it from (i) acting as a futures commission
merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any
other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any
of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or
employee of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing any
conduct or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging in
any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal or
state securities or federal commodities laws;

 

    4

     

    

 

(f)               
it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any
federal or state authority barring, suspending or otherwise limiting for more than 60 days its right to engage in any activity described
in paragraph 10(e)(i) above, or to be associated with persons engaged in any such activity;

 

(g)              
it has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal
or state securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or
vacated;

 

(h)              
it has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal
commodities law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

(i)                
it has never been the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree
or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any federal or state securities or
commodities law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including, but not
limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease
and desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection
with any business entity;

 

(j)                
it has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or
any self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary
authority over its members or persons associated with a member;

 

(k)              
it has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii)
involving the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker,
dealer, municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

(l)                
it was never subject to a final order of a state securities commission (or an agency of officer of a state performing like
functions); a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission
(or an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive conduct;

 

(m)             it
has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such sale,
restrained or enjoined it from engaging or continuing to engage in any conduct or practice: (i) in connection with the purchase or
sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct of the
business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers of
securities;

 

    5

     

    

 

(n)              
it has never been subject to any order of the SEC that orders it to cease and desist from committing or causing a future
violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to, Section 17(a)(1)
of the Securities Act of 1933, as amended (the “Securities Act”), Section 10(b) of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”) and Rule 10b-5 thereunder, and Section 206(1) of the Investment Advisers
Act of 1940, as amended (the “Advisers Act”), or any other rule or regulation thereunder; or (ii) Section 5
of the Securities Act;

 

(o)              
it has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the
SEC that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the subject
of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

(p)              
it has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary
restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme
or device for obtaining money or property through the mail by means of false representations;

 

(q)              
it is not subject to a final order of a state securities commission (or an agency of officer of a state performing like
functions); a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission
(or an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that bars it from: (i) association with an entity regulated by such commission, authority, agency or officer; (ii)
engaging in the business of securities, insurance or banking; or (iii) engaging in savings association or credit union activities;

 

(r)               
it is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Exchange Act or section 203(e)
or 203(f) of the Advisers Act that: (i) suspends or revokes its registration as a broker, dealer, municipal securities dealer or investment
adviser; (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person; or (iii)
bars it from being associated with any entity or from participating in the offering of any penny stock; and

 

(s)               
it has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a
securities self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities
association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

11.             
Each of the undersigned represents that it has full right and power, without violating any agreement by which it is bound,
to enter into this letter agreement.

 

    6

     

    

 

12.             
 Each of the undersigned hereby waives its right to exercise conversion rights with respect to any shares of Common Stock
owned or to be owned by it, directly or indirectly, whether purchased by it prior to the IPO, in the IPO or in the aftermarket, and agrees
that it will not seek conversion with respect to or otherwise sell, such shares in connection with any vote to approve a Business Combination
with respect thereto, a vote to amend the provisions of the Company’s Amended and Restated Certificate of Incorporation, or a tender
offer by the Company prior to a Business Combination.

 

13.             
Each of the undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and
Restated Certificate of Incorporation with respect to stockholder’s rights or the Company’s pre-Business Combination activities
(including the substance or timing within which the Company has to complete a business combination) of a Business Combination unless the
Company offers holders of IPO Shares the right to receive their pro rata portion of the funds then held in the Trust Fund upon approval
of any amendment.

 

14.             
In connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be
governed by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that
would result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding or
claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration in accordance
with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration shall
be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be conducted in
English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that the arbitrator panel’s
decision shall be final and enforceable by any court having jurisdiction over the party from whom enforcement is sought. The cost of such
arbitrators and arbitration services, together with the prevailing party’s legal fees and expenses, shall be borne by the non-prevailing
party or as otherwise directed by the arbitrators.

 

15.             
As used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii) “Insiders”
shall mean all officers, directors and stockholders of the Company immediately prior to the IPO; (iii) “Insider Shares”
shall mean all of the shares of Common Stock of the Company acquired by an Insider prior to the IPO and the purchase of the Private Warrants;
(iv) “Founder Shares” shall mean all of the shares of Common Stock acquired by Gardiner Healthcare, Chardan
Gardiner LLC and CCMAUS Pty Ltd prior to the consummation of the IPO; (v) “IPO Shares” shall mean the shares
of Common Stock issued in the Company’s IPO; (vi) “Private Warrants” shall mean the Warrants purchased
in the private placements taking place simultaneously with the consummation of the Company’s IPO; (vii) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; (viii) “SEC”
means the U.S. Securities and Exchange Commission; and (ix) “Trust Fund” shall mean the trust fund into which
a portion of the net proceeds of the Company’s IPO will be deposited.

 

    7

     

    

 

16.              Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in
writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand
delivery or electronic mail.

 

If to the Representative:

 

Chardan Capital Markets, LLC

17 State Street, 21st Floor

New York, NY 10004

Attn: Richard Korhammer

Email: rkorhammer@chardan.com

 

Copy (which copy shall not
constitute notice) to:

 

Greenberg Traurig, LLP

1750 Tysons Boulevard, Suite
1000

McLean, Virginia 22102

Attn: Jason Simon

Email: simonj@gtlaw.com

 

If to the Company:

 

Gardiner Healthcare Acquisitions
Corp.

3107 Warrington Road

Shaker Heights, OH 44210

Attn: Marc F. Pelletier, Chief
Executive Officer

Email: mfpelletier@gardinerhealthcare.com

 

Copy (which copy shall not
constitute notice) to:

 

Reed Smith LLP

599 Lexington Avenue

22nd Floor

New York, New York 10022

Attn: Ari Edelman, Esq.

Email: aedelman@reedsmith.com

 

17.             
No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without
the prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and
shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding on the
parties hereto and any successors and assigns thereof.

 

18.              The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and
warranties set forth herein in proceeding with the IPO. Without limiting the generality of the foregoing, the parties hereto agree
that paragraph 5 of this letter agreement shall not be modified or amended without the written consent of the Representative.
Nothing contained herein shall be deemed to render the Underwriters a representative of, or a fiduciary with respect to, the
Company, its stockholders or any creditor or vendor of the company with respect to the subject matter hereof.

 

[Signature page to follow]

 

    8

     

    

 

	 	Sincerely,
	 	 
	 	GARDINER
    HEALTHCARE HOLDINGS, LLC
	 	 
	 	By:	 
	 	Name:	Marc
    F. Pelletier
	 	Title:	Chief
    Executive Officer
	 	 
	 	CHARDAN
    GARDINER LLC
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	CCMAUS
    PTY LTD
	 	 
	 	By:	 
	 	Name:  	 
	 	Title:	 
	 	 
	 	Acknowledged
    and Agreed:
	 	 
	 	GARDINER
    HEALTHCARE ACQUISITIONS CORP.
	 	 
	 	By:	 
	 	Name:	Marc
    F. Pelletier
	 	Title	Chief
    Executive Officer

 

[Signature Page to Insider Letter]

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