Document:

Exhibit 10.8

 

Execution Version

 

 

THE SECURITIES DESCRIBED HEREIN HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE OR ANY OTHER JURISDICTION. THERE ARE FURTHER
RESTRICTIONS ON THE TRANSFERABILITY OF THE SECURITIES DESCRIBED HEREIN.

 

THE PURCHASE OF THE SECURITIES INVOLVES
A HIGH DEGREE OF RISK AND SHOULD BE CONSIDERED ONLY BY PERSONS WHO CAN BEAR THE RISK OF THE LOSS OF THEIR ENTIRE INVESTMENT.

 

SUBSCRIPTION AGREEMENT

 

This Subscription Agreement (this “Agreement”)
is entered into as of _____ __, 2021 between Siddhi Acquisition Corp., a Delaware corporation (the “Company”),
Siddhi Sponsor LLC, a Delaware limited liability company (the “Sponsor”) and ______ (the “Purchaser”).

 

RECITALS

 

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

 

WHEREAS, the Company has filed with the
U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form S-1 (the “Registration
Statement”) for its initial public offering (“IPO”) of units (the “Public Units”),
at a price of $10.00 per Public Unit, each Public Unit comprised of one share of the Company’s Class A common stock, par
value $0.0001 per share (“Class A Common Stock”, and the shares of Class A Common Stock included in the Public
Units, the “Public Shares”), and one-third of one redeemable warrant, where each whole warrant is initially
exercisable to purchase one share of Class A Common Stock at an exercise price of $11.50 per share, subject to adjustment (the
“Warrants”, and the Warrants included in the Public Units, the “Public Warrants”);

 

WHEREAS, proceeds from the IPO and the sale
of the Private Placement Warrants (as defined below) in an aggregate amount equal to the aggregate gross proceeds from the IPO
will be deposited into a trust account for the benefit of the holders of the Public Shares (the “Trust Account”),
as described in the Registration Statement;

 

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

 

WHEREAS, in connection with the IPO, the
Sponsor and the Purchaser will purchase, in a private placement that will close simultaneously with the IPO Closing, warrants which
are identical to the Warrants except that they will be non-redeemable (except under certain limited circumstances) and exercisable
on a cashless basis so long as they are held by the Sponsor, the Purchaser or their respective permitted transferees (the “Private
Placement Warrants”), for a purchase price of $1.50 per Private Placement Warrant;

 

 

WHEREAS, the parties wish to enter into
this Agreement, pursuant to which the Purchaser shall subscribe for and purchase from the Company (i) shares of Class B common
stock, par value $0.0001 per share, of the Company (“Class B Common Stock” and collectively with the shares
of Class A Common Stock, the “Common Stock”) at the IPO Closing (“Founder Shares”) and (ii) Private
Placement Warrants to be issued at the IPO Closing (together with the Founder Shares, the “Subscribed Securities”);

 

WHEREAS, the Company and the Sponsor have
entered into or intend to concurrently with this Agreement enter into agreements (collectively, the “Subscription Agreements”)
in the form of this Agreement with certain affiliates of the Purchaser (together with the Purchaser, the “Subscribing
Parties”) for the purchase of Founder Shares and Private Placement Warrants set forth therein; and

 

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WHEREAS, the Company, the Sponsor and the
Subscribing Parties intend for the purchase of Founder Shares and Private Placement Warrants as set forth herein to be made pursuant
to Section 4(a)(1) and Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), respectively.

 

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

 

AGREEMENT

 

1. Sale
and Purchase.

 

(a) Securities.

 

(i)  Subject
to the terms and conditions hereof, the Purchaser hereby irrevocably subscribes for and agrees to purchase from the Company, and
the Company agrees to issue and sell to the Purchaser, the number of Private Placement Warrants set forth on Schedule A hereto
for the aggregate purchase price set forth on Schedule A hereto (the “Initial Warrant Purchase Price”).

 

(ii)        On
the IPO Closing, the Purchaser shall purchase from the Company, and the Company shall issue and sell to the Purchaser, the number
of Founder Shares set forth on Schedule A hereto for the aggregate purchase price set forth on Schedule A hereto
(the “Initial Founder Share Purchase Price” and together with the Initial Warrant Purchase Price, the “Initial
Purchase Price”), by wire transfer of immediately available funds or other means approved by the Company. If the IPO
Closing has not occurred by July 30, 2021, this Agreement shall terminate and be of no further force or effect.

 

(iii)   The
Purchaser acknowledges that the Subscribed Securities, and any securities of the Company that may be distributed to the Purchaser
on account of the Subscribed Securities (collectively, the “Securities”), will be subject to restrictions on
transfer as set forth in this Agreement.

 

(iv) The Company shall
notify the Purchaser in writing of the anticipated date of the effectiveness of the Registration Statement (the “Effective
Date”) at least three (3) Business Days (as defined below) prior to the Effective Date and the anticipated date of the
IPO Closing, and the Purchaser shall deliver to the Company on the expected date of the IPO Closing (or such other date as the
Company and the Purchaser may agree upon in writing), the Initial Purchase Price by wire transfer of immediately available funds
or other means approved by the Company; provided, however, that if the actual number of Public Units offered and sold in
the IPO is less than 20,000,000 or greater than 27,600,000, then the Purchaser shall not be obligated to remit the Initial Purchase
Price as set forth in this Section 1(a)(iv) and any of the Purchaser, the Company or the Sponsor may in its sole discretion terminate
this Agreement which shall be of no further force or effect. On or prior to the date of the IPO Closing and prior to the release
of the Initial Purchase Price by the Purchaser, the Company shall issue the Subscribed Securities against payment of the Initial
Purchase Price to the Purchaser and cause the Subscribed Securities to be registered in book entry form in the name of the Purchaser
on the Company’s share register and will provide to the Purchaser evidence of such issuance from the Company’s transfer
agent. As used herein, “Business Day” means any day, other than a Saturday or a Sunday, that is neither a legal
holiday nor a day on which banking institutions are generally authorized or required by law or regulation to close in the City
of New York, New York. If the IPO Closing has not occurred by the date that is seven (7) Business Days after the date on which
the Purchaser remitted the Initial Purchase Price to the Company’s transfer agent, then, unless the Purchaser otherwise agrees
in writing, the Company will promptly cause its transfer agent to return such amounts to the Purchaser. If the IPO Closing has
not occurred by July 30, 2021, this Agreement shall terminate and be of no further force or effect.

 

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(v)   In
the event that the underwriters’ over-allotment option in connection with the IPO (the “Over-allotment Option”)
is exercised, the Purchaser agrees to purchase additional Founder Shares and Private Placement Warrants as indicated on Schedule
A. The Company shall notify the Purchaser in writing of the anticipated date of each closing of the exercise of the Over-allotment
Option, if any (each, an “Over-allotment Closing”) at least three (3) Business Days prior to such Over-allotment
Closing, and the Purchaser shall deliver to the Company on the expected date of the Over-allotment Closing (or such other date
as the Company and the Purchaser may agree upon in writing), the purchase price for such additional Founder Shares and Private
Placement Warrants by wire transfer of immediately available funds or other means approved by the Company. On or prior to the date
of the Over-allotment Closing and prior to the release of the purchase price by the Purchaser, the Company shall issue the additional
Founder Shares and Private Placement Warrants against payment of the purchase price to the Purchaser and cause the additional Founder
Shares and Private Placement Warrants to be registered in book entry form in the name of the Purchaser on the Company’s share
register and will provide to the Purchaser evidence of such issuance from the Company’s transfer agent. If the Over-allotment
Closing has not occurred by the date that is seven (7) Business Days after the date on which the Purchaser remitted the purchase
price for the Founder Shares and the Private Placement Warrants to be purchased in connection with such Over-allotment Closing,
then, unless the Purchaser otherwise agrees in writing, the Company will promptly cause its transfer agent to return such amounts
to the Purchaser.

 

(vi)   If
it is determined that the size of the IPO is increased beyond $230,000,000 but not in excess of $276,000,000 (including full exercise
of the Over-allotment Option), Purchaser agrees that the amount of its Subscribed Securities will be increased pro rata with the
increased amount of the offering. In such event, Purchaser will deliver the purchase price for such additional Subscribed Securities
to the Company as promptly after notice by the Company of such increase.

 

(vii)   On
the date of the IPO Closing, the Company shall issue to the Purchaser the number of Founder Shares and Private Placement Warrants
set forth on Schedule A hereto. On the date of each Over-allotment Closing, if any, the Company shall issue to the
Purchaser the number of Private Placement Warrants and Founder Shares as set forth on Schedule A, as the same may be amended
if the size of the IPO is increased pursuant to clause (vi) above.

 

(b)
   Closing
Conditions. The Purchaser’s obligation to purchase the Subscribed Securities and the Company’s obligation to sell
the Subscribed Securities to the Purchaser is conditioned upon satisfaction of the following conditions precedent (any or all of
which may be waived by the Company, the Sponsor and the Purchaser in its sole discretion with respect to the other parties’
conditions):

 

(i)   On
the IPO Closing or the Over-allotment Closing, as applicable, no legal, administrative or regulatory action, suit or proceeding
shall be pending which seeks to restrain or prohibit the transactions contemplated by this Agreement;

 

(ii)   The
representations and warranties of the Company, the Sponsor and the Purchaser, contained in this Agreement shall have been true
and correct on the date of this Agreement and shall be true and correct on the IPO Closing or the Over-allotment Closing, as applicable,
as if made on the date of such closing; and

 

(iii)   In
the case of the Company and the Sponsor, each Subscribing Party other than the Purchaser shall have on the IPO Closing or the Over-allotment
Closing, as applicable, concurrently consummated its subscription under its Subscription Agreement.

 

(c) Delivery of Securities.

 

(i)  The
Company shall register the Purchaser as the owner of the Subscribed Securities with the Company’s transfer agent by book
entry upon the purchase thereof (provided that prior to the Company’s appointment of a transfer agent it shall register the
Purchaser as the owner of such securities in the Company’s stock ledger upon the purchase thereof).

 

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

 

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

 

THE SALE, PLEDGE, HYPOTHECATION, OR TRANSFER OF THE
SECURITIES REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN SUBSCRIPTION AGREEMENT BY AND AMONG THE HOLDER
AND THE OTHER PARTIES THERETO. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.”

 

(d)  Legend
Removal. Following the expiration of the transfer restrictions set forth in Section 6(a), if the Securities
are eligible to be sold without restriction under, and without the Company being in compliance with the current public information
requirements of, Rule 144 under the Securities Act, or if they are registered for resale under the Securities Act pursuant
to a shelf registration statement, then at the Purchaser’s written request, the Company will use commercially reasonable
efforts to cause the Company’s transfer agent to remove the legend set forth in Section 1(c)(ii), subject to
compliance by the Purchaser with the reasonable and customary procedures for such removal required by the Company or its transfer
agent. In connection therewith, if required by the Company’s transfer agent, the Company will promptly cause an opinion of
counsel to be delivered to and maintained with its transfer agent, together with any other authorizations, certificates and directions
required by the transfer agent that authorize and direct the transfer agent to issue such Securities without any such legend.

 

(e) Registration
Rights. On the Effective Date, the Company shall enter into a Registration Rights Agreement (the “Registration Rights
Agreement”) with the Sponsor, the Subscribing Parties and certain other parties thereto, in substantially the form provided
to the Purchaser prior to the date hereof. The Registration Rights Agreement shall provide the Purchaser with registration rights
with respect to the Subscribed Securities that are no less favorable to the Purchaser than the registration rights of the Sponsor
set forth therein.

 

2.   Potential
Forfeiture. The Purchaser agrees that if, in connection with a Business Combination, the Sponsor decides (i) to forfeit, transfer
to a third person, exchange, subject to transfer, vesting or conditional forfeiture provisions or amend the terms of all or any
portion of the Founder Shares and/or the Private Placement Warrants (or the Sponsor’s membership interests representing an
interest in any of the foregoing) or (ii) to enter into any other arrangements with respect to the Founder Shares and/or the Private
Placement Warrants (or the Sponsor’s membership interests representing an interest in any of the foregoing), including voting
in favor of any amendment to the terms of the Founder Shares and/or the Private Placement Warrants (each, a “Change in
Investment”), such Change in Investment shall apply pro rata to the Purchaser and the Sponsor based on the relative number
of Founder Shares and/or Private Placement Warrants to be held by each on the Business Combination Closing; provided, however that
in no event shall such Change in Investment apply to more than 75% of the Founder Shares to be purchased by the Purchaser and/or
75% of the Private Placement Warrants held by the Purchaser. The Purchaser agrees to take all steps and execute all such agreements
as may be necessary or reasonably requested by the Sponsor to effectuate such Change in Investment on the same terms as applicable
to the Sponsor.

 

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

 

(a) Organization
and Power.  The Purchaser is duly organized, validly existing, and in good standing under the laws of the jurisdiction
of its formation and has all requisite power and authority to carry on its business as presently conducted and as proposed to be
conducted.

 

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(b) Authorization. 
The Purchaser has full power and authority to enter into this Agreement. This Agreement, when executed and delivered by the Purchaser,
will constitute the valid and legally binding obligation of the Purchaser, enforceable against the Purchaser in accordance with
its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and
any other laws of general application affecting enforcement of creditors’ rights generally or (ii) as limited by laws
relating to the availability of specific performance, injunctive relief or other equitable remedies.

 

(c)  Governmental
Consents and Filings.  No consent, approval, order or authorization of, or registration, qualification, designation, declaration
or filing with, any federal, state or local governmental authority is required on the part of the Purchaser in connection
with the consummation of the transactions contemplated by this Agreement, except for filings pursuant to applicable securities
laws, rules or regulations.

 

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

 

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

 

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

 

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

 

(h) No
Public Market.  The Purchaser understands that no public market now exists for the Securities, and that the Company has
not made any assurances that a public market will ever exist for the Securities.

 

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(i)  High
Degree of Risk.  The Purchaser understands that the purchase of the Subscribed Securities involves a high degree of risk
which could cause the Purchaser to lose all or part of its investment.

 

  (j)  Accredited
Investor.  The Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under
the Securities Act.

 

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

 

(l)  Place
of Investment Decision.  The Purchaser’s investment decision was made in the office or offices located at the address
of the Purchaser set forth on the signature page hereof.

 

(m)       Adequacy
of Financing. The Purchaser will, when such funds are due hereunder, have sufficient funds to satisfy its obligations
under this Agreement.

 

(o) No
Other Representations and Warranties; Non-Reliance.  Except for the specific representations and warranties contained
in this Section 3 and in any certificate or agreement delivered pursuant hereto, none of the Purchaser nor
any person acting on behalf of the Purchaser nor any of the Purchaser’s affiliates (the “Purchaser Parties”)
has made, makes or shall be deemed to make any other express or implied representation or warranty with respect to the Purchaser
and this offering, and the Purchaser Parties disclaim any such representation or warranty. Except for the specific representations
and warranties expressly made by the Company and the Sponsor in Section 4 and Section 5 of this Agreement,
respectively, and in any certificate or agreement delivered pursuant hereto, the Purchaser Parties specifically disclaim that they
are relying upon any other representations or warranties that may have been made by the Company, any person on behalf of the Company
or any of the Company’s affiliates (collectively, the “Company Parties”) or by the Sponsor, any person
on behalf of the Sponsor or any of the Sponsor’s affiliates (collectively, the “Sponsor Parties”) with
respect to the transactions contemplated hereby.

 

4. Representations,
Warranties and Covenants of the Company. The Company represents, warrants and covenants to the Purchaser as follows:

 

(a) Organization
and Corporate Power.  The Company is incorporated and validly existing and in good standing as a corporation under the
laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted
and as proposed to be conducted.

 

(b) Capitalization.
The authorized share capital of the Company consists, as of the date hereof:

 

  (i)   70,000,000
shares of Class A Common Stock, none of which is issued and outstanding;

 

(ii)        12,500,000
shares of Class B Common Stock, 5,750,000 of which are issued and outstanding and held by the Sponsor. All of the outstanding shares
of Class B Common Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable
federal and state securities laws.

 

(iii)      1,000,000
shares of preferred stock, none of which is issued and outstanding.

 

(c)  Authorization. 
All corporate action required to be taken by the Company’s Board of Directors and stockholders in order to authorize the
Company to enter into this Agreement, and to issue the Subscribed Securities, has been taken on or prior to the date hereof. All
action on the part of the stockholders, directors and officers of the Company necessary for the execution and delivery of this
Agreement, the performance of all obligations of the Company under this Agreement, and the issuance and delivery of the Subscribed
Securities has been taken on or prior to the date hereof. This Agreement, when executed and delivered by the Company, shall constitute
the valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms except (i) as
limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application
relating to or affecting the enforcement of creditors’ rights generally or (ii) as limited by laws relating to the availability
of specific performance, injunctive relief, or other equitable remedies.

 

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(d) Valid
Issuance of Securities.

 

(i)  The
Subscribed Securities, when issued, sold and delivered in accordance with the terms and for the consideration set forth in this
Agreement, will be validly issued and fully paid, as applicable, and free of all preemptive or similar rights, taxes, liens, encumbrances
and charges with respect to the issue thereof and restrictions on transfer other than restrictions on transfer specified under
this Agreement, applicable state and federal securities laws and liens or encumbrances created by or imposed by the Purchaser.
Assuming the accuracy of the representations of the Purchaser in this Agreement and subject to the filings described in Section 4(f) below,
the Subscribed Securities will be issued in compliance with all applicable federal and state securities laws, rules and regulations.

 

(ii)  No
“bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii) of the Securities Act (a “Disqualification
Event”) is applicable to the Company or, to the Company’s knowledge, any Company Covered Person (as defined below),
except for a Disqualification Event as to which Rule 506(d)(2)(ii–iv) or (d)(3), is applicable. “Company Covered
Person” means, with respect to the Company as an “issuer” for purposes of Rule 506 promulgated under
the Securities Act, any Person listed in the first paragraph of Rule 506(d)(1).

 

(e)   IPO.
The offers and sales of securities in the IPO will be made pursuant to an effective Registration Statement and otherwise in compliance
with the Securities Act and the rules and regulations promulgated thereunder and applicable state securities laws, rules and regulations.

 

(f)  Governmental
Consents and Filings.  Assuming the accuracy of the representations made by the Purchaser in this Agreement, no consent,
approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state
or local governmental authority is required on the part of the Company in connection with the consummation of the transactions
contemplated by this Agreement, except for filings pursuant to Regulation D of the Securities Act and applicable state securities
laws, if any.

 

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

 

(h)  Operations.
As of the date hereof, the Company has not conducted, and prior to the IPO Closing the Company will not conduct, any operations
other than organizational activities and activities in connection with offerings of the Securities.

 

(i) Foreign
Corrupt Practices. Neither the Company, nor any director, officer, agent, employee or other Person acting on behalf of the
Company has, in the course of its actions for, or on behalf of, the Company (i) used any corporate funds for any unlawful
contribution, gift, entertainment or other unlawful expenses relating to political activity; (ii) made any direct or indirect
unlawful payment to any foreign or domestic government official or employee from corporate funds; (iii) violated or is in
violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any unlawful bribe,
rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or employee.

 

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(j)  Compliance
with Anti-Money Laundering Laws. The operations of the Company are and have been conducted at all times in compliance with
applicable financial recordkeeping and reporting requirements and all other applicable U.S. and non-U.S. anti-money laundering
laws and regulations, including, but not limited to, those of the Currency and Foreign Transactions Reporting Act of 1970, as amended,
the USA Patriot Act of 2001 and the applicable money laundering statutes of all applicable jurisdictions, the rules and regulations
thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency
(collectively, the “Anti-Money Laundering Laws”), and no action, suit or proceeding by or before any court or
governmental agency, authority or body or any arbitrator involving the Company with respect to the Anti-Money Laundering Laws is
pending or, to the knowledge of the Company, threatened.

 

(k)   Absence
of Litigation. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government
agency, self-regulatory organization or body pending or, to the knowledge of the Company, threatened against or affecting the Company
or any of the Company’s officers or directors, whether of a civil or criminal nature or otherwise, in their capacities as
such.

 

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

 

(m)       Non-Public
Information. The Company represents and warrants that none of the information conveyed to the Purchaser in connection with
the transactions contemplated by this Agreement will constitute material non-public information of the Company upon the effectiveness
of the Registration Statement.

 

(n)        No
Other Representations and Warranties; Non-Reliance.  Except for the specific representations and warranties contained
in this Section 4 and in any certificate or agreement delivered pursuant hereto, none of the Company Parties
has made, makes or shall be deemed to make any other express or implied representation or warranty with respect to the Company
or the offering of Securities hereunder, and the Company Parties disclaim any such representation or warranty. Except for the specific
representations and warranties expressly made by the Purchaser in Section 3 of this Agreement and in any
certificate or agreement delivered pursuant hereto, the Company Parties specifically disclaim that they are relying upon any other
representations or warranties that may have been made by the Purchaser Parties.

 

5.  Representations,
Warranties and Covenants of the Sponsor. The Sponsor represents, warrants and covenants as follows:

 

(a)   Organization
and Power. The Sponsor is duly organized, validly existing, and in good standing under the laws of its jurisdiction of its
formation and has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted.

 

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

 

(c)   No
Other Representations and Warranties; Non-Reliance.  Except for the specific representations and warranties contained
in this Section 5 and in any certificate or agreement delivered pursuant hereto, none of the Sponsor Parties has
made, makes or shall be deemed to make any other express or implied representation or warranty with respect to the Sponsor or the
offering of Securities hereunder, and the Sponsor Parties disclaim any such representation or warranty. Except for the specific
representations and warranties expressly made by the Purchaser in Section 3 of this Agreement and in any
certificate or agreement delivered pursuant hereto, the Sponsor Parties specifically disclaim that they are relying upon any other
representations or warranties that may have been made by the Purchaser Parties.

 

    8 

     

    

 

(d)   Sponsor
Minimum Investment. The Sponsor and any of its affiliates shall purchase at least eighty percent (80%) of the Private Placement
Warrants offered by the Company in connection with the IPO which are not purchased by the Subscribing Parties.

 

6. Additional
Agreements and Acknowledgements of the Purchaser.

 

(a) Transfer
Restrictions.  The Purchaser agrees that, except for Transfers (as defined below) to third parties required pursuant to
Section 2 above, it shall not Transfer (i) any Founder Shares until the earlier of (A) one year after the closing of the Business
Combination (the “Business Combination Closing”) and (B) the date following the Business Combination Closing
on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction that results in all of
the Company’s stockholders having the right to exchange their Common Stock for cash, securities or other property (such period,
the “Lock-up Period”) or (ii) any Private Placement Warrants (or any shares of Common Stock issuable upon exercise
of the Private Placement Warrants) until 30 days after the Business Combination Closing. Notwithstanding the foregoing, if subsequent
to the Business Combination Closing, the last reported sale price of the Class A Common Stock equals or exceeds $12.00 per share
(as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any twenty (20) trading days
within any thirty (30) trading day period commencing at least one hundred and fifty (150) days after the Business Combination Closing,
the Founder Shares shall be released from the lockup referenced in this Section 6(a). Notwithstanding the first sentence
hereinabove, Transfers of the Securities are permitted (i) to the Company’s initial stockholders, officers or directors,
any members of the Sponsor or its affiliates, any affiliates of the Sponsor, or any employees of the Sponsor, or any employees
of such affiliates; (ii) in the case of an individual, by gift to a member of one of the individual’s immediate family
or to a trust, the beneficiary of which is a member of the individual’s immediate family, an affiliate of such person or
to a charitable organization; (iii) in the case of an individual, by virtue of laws of descent and distribution upon death
of the individual; (iv) in the case of an individual, pursuant to a qualified domestic relations order; (v) by private
sales or transfers made in connection with the completion of a Business Combination at prices no greater than the price at which
the Founder Shares, the Private Placement Warrants or Class A common stock, as applicable, were originally purchased; (vi) by
virtue of the Sponsor’s or Purchaser’s organizational documents upon liquidation or dissolution of the Sponsor or the
Purchaser; (vii) as distributions to limited partners or members of the Sponsor or the Purchaser; (viii) by virtue of the laws
of the State of Delaware or of the Sponsor’s or Purchaser’s organizational documents upon liquidation or dissolution
of the Sponsor or the Purchaser; (ix) to the Company for no value for cancellation in connection with the completion of the Business
Combination; (x) in the event of the Company’s liquidation prior to the completion of the Business Combination; (xi) to the
Purchaser’s affiliates, to any investment fund or other entity controlled or managed by the Purchaser, or to any investment
manager or investment advisor of the Purchaser or an affiliate of any such investment manager or investment advisor or to any investment
fund or other entity controlled or managed by such persons; and (xii) in the event of the Company’s liquidation, merger,
stock exchange, reorganization or other similar transaction which results in all of the Company’s public shareholders having
the right to exchange their Class A Common Stock for cash, securities or other property subsequent to the Company’s completion
of the Business Combination (each of the foregoing, a “Permitted Transferee”); provided, however, that in the
case of clauses (i) through (viii) or with the Company’s prior written consent, these Permitted Transferees must enter
into a written agreement agreeing to be bound by the terms of this Agreement, including these transfer restrictions. As used in
this Agreement, “Transfer” shall mean the (x) sale of, offer to sell, contract or agreement to sell, hypothecation,
pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment
or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position (within the meaning
of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and
regulations of the SEC promulgated thereunder) with respect to, any of the Securities; (y) entry into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences of ownership of any of the Securities, whether
any such transaction is to be settled by delivery of such Securities, in cash or otherwise, or (z) public announcement of
any intention to effect any transaction specified in clause (x) or (y); provided further, that this Section 6(a) shall
not prohibit the Purchaser from effecting a Short Sale (as defined below) with securities that do not constitute “Securities”
under this Agreement.

 

(b) Trust
Account.

 

(i)  The
Purchaser hereby acknowledges that it is aware that the Company will establish the Trust Account for the benefit of its public
stockholders upon the IPO Closing. The Purchaser hereby agrees that it has no right, title, interest or claim of any kind in or
to any monies held in the Trust Account, or any other asset of the Company as a result of any liquidation of the Company, except
for redemption and liquidation rights, if any, the Purchaser may have in respect of any Public Shares held by it.

 

    9 

     

    

 

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

 

  (c)
No Short Sales. The Purchaser hereby agrees that neither it, nor any person or entity acting on its behalf, will engage
in any Short Sales with respect to securities of the Company prior to the closing of the Business Combination. For purposes of
this Section 6(c), “Short Sales” shall include, without limitation, all “short sales” as defined
in Rule 200 promulgated under Regulation SHO under the Exchange Act, and all types of direct and indirect stock pledges (other
than pledges in the ordinary course of business as part of prime brokerage arrangements), forward sale contracts, options, puts,
calls, swaps and similar arrangements (including on a total return basis). Notwithstanding anything to the contrary set forth herein,
(i) nothing herein shall prohibit any entities under common management or that share an investment advisor with the Purchaser that
have no knowledge of this Agreement or of the Purchaser’s participation in the transactions contemplated in this Agreement
(including the Purchaser’s controlled affiliates and/or other affiliates) from entering into any Short Sales and (ii) in
the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions
of such Purchaser’s assets and the portfolio managers have no knowledge of the investment decisions made by the portfolio
managers managing other portions of such Purchaser’s assets, this Section 6(c) shall only apply with respect to the portion
of assets managed by the portfolio manager that made the investment decision to purchase the amount of Subscribed Securities pursuant
to this Agreement. The Company acknowledges and agrees that, notwithstanding anything herein to the contrary, the Subscribed Securities
may be pledged by the Purchaser in connection with a bona fide margin agreement, provided that such pledge shall be (i) pursuant
to an available exemption from the registration requirements of the Securities Act or (ii) pursuant to, and in accordance with,
a registration statement that is effective under the Securities Act at the time of such pledge, and the Purchaser effecting a pledge
of Subscribed Securities shall not be required to provide the Company with any notice thereof; provided, however, that neither
the Company nor its counsel shall be required to take any action (or refrain from taking any action) in connection with any such
pledge, other than providing any such lender of such margin agreement with an acknowledgment that the Subscribed Securities may
be subject to contractual lock ups or prohibition on pledging (including specifically, but not by limitation, an acknowledgment
that the Founder Shares are subject to such lock-up periods as are described in the Registration Statement), the form of such acknowledgment
to be subject to review and comment by the Company in all respects. Notwithstanding the foregoing, Subscriber shall not pledge
the Subscribed Securities unless the terms of such pledge permit or require that voting control over any such pledged Subscribed
Securities remains within the sole control of Subscriber.

 

(d)
Use of Purchaser’s Name. Neither the Company nor the Sponsor will, without the written consent of the Purchaser in
each instance, use in advertising, publicity or otherwise the name of the Purchaser or any of its affiliates, or any director,
officer or employee of the Purchaser, nor any trade name, trademark, trade device, service mark, symbol or any abbreviation, contraction
or simulation thereof owned by the Purchaser or its affiliates or any information relating to the business or operations of the
Purchaser or its affiliates (including, for the avoidance of doubt, any investment vehicles, funds or accounts managed thereby).
Notwithstanding the foregoing, the Company may disclose (i) the Purchaser’s name and information concerning the Purchaser
(A) to the extent required by law, regulation or regulatory request, including in the Registration Statement or (B) to
the Company’s lawyers, independent accountants and to other advisors and service providers who reasonably require the Purchaser’s
information in connection with the provision of services to the Company, are advised of the confidential nature of such information
and are obligated to keep such information confidential, and (ii) the Purchaser’s name and the terms of this Agreement
to the other Subscription Parties. The Company and the Sponsor agree to provide to the Purchaser for the Purchaser’s review
any disclosure in any registration statement, proxy statement or other document in advance of the submission, filing or disclosure
of such document in connection with the transactions contemplated by this Agreement with respect to the Purchaser or any of its
affiliates, and will not make any such submission, filing or disclosure without including any revisions reasonably requested in
writing by the Purchaser or to the extent the Purchaser has a good faith objection to such submission, filing or disclosure.

 

    10 

     

    

 

(e)  Stock
Exchange Listing. The Company will use commercially reasonable efforts to effect and maintain the listing of the Class A Common
Stock and Warrants on The New York Stock Exchange (or another national securities exchange) until the third anniversary of the
Business Combination Closing.

 

7. General
Provisions.

 

(a) Notices.  All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given upon the earlier of actual receipt, or (i) personal delivery to the party to be notified, (ii) when sent, if sent
by electronic mail or facsimile (if any) during normal business hours of the recipient, and if not sent during normal business
hours, then on the recipient’s next Business Day, (iii) five (5) Business Days after having been sent by registered
or certified mail, return receipt requested, postage prepaid, or (iv) one (1) Business Day after deposit with a nationally
recognized overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. All
communications sent to the Company shall be sent to: c/o Graubard Miller, 405 Lexington Avenue, 11th floor, New York,
NY 10174, Attention: Amy Salerno, Chief Financial Officer, Email: amy.h.salerno@gmail.com, with a copy to Graubard Miller, 405
Lexington Avenue, 11th Floor, New York, NY 10174, Attention: David Miller and Jeffrey Gallant, Email: DMiller@graubard.com
and JGallant@graubard.com.

 

  All
communications to the Purchaser shall be sent to the Purchaser’s address as set forth on the signature page hereto,
or to such email address, facsimile number (if any) or address as subsequently modified by written notice given in accordance with
this Section 7(a).

 

(b) No
Finder’s Fees.  Each party represents that it neither is nor will be obligated for any finder’s fee or commission
in connection with this transaction. The Purchaser agrees to indemnify and to hold harmless the Company from any liability for
any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the
costs and expenses of defending against such liability or asserted liability) for which the Purchaser or any of its officers, employees
or representatives are responsible. The Company agrees to indemnify and hold harmless the Purchaser from any liability for any
commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs
and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees
or representatives is responsible.

 

(c) Survival.  All of the representations
and warranties contained herein shall survive the consummation of the transactions contemplated by this Agreement.

 

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

 

 

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

 

    11 

     

    

 

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

 

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

 

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

 

(i)  Governing
Law.  This Agreement, the entire relationship of the parties hereto, and any litigation between the parties (whether grounded
in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the
laws of the State of New York, without giving effect to its choice of laws principles. 

 

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

 

(k) WAIVER
OF JURY TRIAL.  THE PARTIES HERETO HEREBY WAIVE ANY RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY LITIGATION PURSUANT TO
THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY.

 

(l)  Amendments. 
This Agreement may not be amended, modified or waived as to any particular provision, except with the prior written consent of
the Company and the Purchaser.

 

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

 

(n) Expenses. 
Each of the Company, the Sponsor and the Purchaser will bear its own costs and expenses incurred in connection with the preparation,
execution and performance of this Agreement and the consummation of the transactions contemplated hereby, including all fees and
expenses of agents, representatives, financial advisors, legal counsel and accountants, except that the Sponsor will be responsible
for the Purchaser’s legal fees in an amount up to $20,000. The Company shall be responsible for the fees of its transfer
agent, stamp taxes and all of The Depository Trust Company’s fees associated with the issuance of the Securities and the
securities issuable upon conversion or exercise of the Securities.

 

    12 

     

    

 

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

 

(p) Waiver. 
No waiver by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional
or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder
or affect in any way any rights arising because of any prior or subsequent occurrence.

 

(q) Specific
Performance.  Each party hereto agrees that irreparable damage may occur in the event any provision of this Agreement
was not performed by the other party hereto in accordance with the terms hereof and that the such party shall be entitled to specific
performance of the terms hereof, in addition to any other remedy at law or equity.

 

(r)   No
Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto (and their respective successors and
permitted assigns) and nothing herein, express or implied, is intended to or shall confer upon any other person any legal or equitable
right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

  (s)   Confidentiality. 
Except as may be required by law, regulation or applicable stock exchange listing requirements (but subject in any case to the
provisions of Section 6(d) hereof), unless and until the transactions contemplated hereby and the terms hereof
are publicly announced or otherwise publicly disclosed by the Company, the parties hereto shall keep confidential and shall not
publicly disclose the existence or terms of this Agreement.  Notwithstanding the foregoing, the Purchaser shall be permitted
to disclose any information to its affiliates and its and their respective directors, officers, employees, advisors, director or
indirect owners, agents and representatives, in each case so long as such person or entity has been advised of the confidentiality
obligations hereunder; provided that the Purchaser shall be liable for any breach of such confidentiality obligations by any such
person or entity.

 

[Signature page follows]

 

    13 

     

    

 

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

 

	 	COMPANY:
	 	 	 
	 	SIDDHI ACQUISITION CORP. 
	 	 	 
	 	By:	
	 	Name:	
	 	Title:	
	 	 	 
	 	SPONSOR:
	 	 	 
	 	SIDDHI SPONSOR LLC 
	 	 	 
	 	By:	                 
	 	Name: 
	 	Title: 

 

[Signature Page to Subscription Agreement]

 

     

     

    

 

	 	PURCHASER:
	 	 
	 	 
	 	Name:
	 	Title:

 

	 	Purchaser’s Address for Notices:
	 	 
	 	 
	 	with copies to:

 

[Signature Page to Subscription Agreement]Exhibit 4.5

 

DESCRIPTION OF EACH CLASS OF SECURITIES 

REGISTERED UNDER SECTION 12 OF THE EXCHANGE
ACT

 

As of December 31, 2020, Biotech Acquisition Company (“we,”
“our,” “us” or the “Company”) had no securities registered under Section 12 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). As of January 25, 2021, we had the following three classes of
securities registered under Section 12 of the Exchange Act: (i) units, consisting of one share of our Class A ordinary shares (as
defined below) and one-half of one redeemable warrant (as defined below), with each whole warrant entitling the holder thereof
to purchase one Class A ordinary share at a price of $11.50 per share; (ii) Class A ordinary shares, $0.0001 par value per share
(our “Class A ordinary shares”); and (iii) our public warrants, with each whole warrant exercisable for one share of
Class A ordinary shares for $11.50 per share (the “warrants”).

Pursuant to our amended and restated memorandum
and articles of association, we are authorized to issue 500,000,000 Class A ordinary shares, $0.0001 par value each, 50,000,000
Class B ordinary shares, $0.0001 par value each, and 5,000,000 undesignated preferred shares, $0.0001 par value each. The following
description summarizes the material terms of our shares, as set out more particularly in our amended and restated memorandum and
articles of association, a copy of which is a separate exhibit to the Annual Report on Form 10-K to which this Exhibit 4.5 is appended
(such Annual Report, the “Report”), and the material terms of our warrants, as set out more particularly in the warrant
agreement dated January 25, 2021 between us and Continental Stock Transfer & Trust Company, as warrant agent, a copy of which
is a separate exhibit to the Report. This summary is qualified in its entirety by the terms and conditions set forth in such separate
exhibits.

Units

 

Each unit consists of one Class A ordinary share and one-half of
one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50
per share, subject to adjustment as described in the warrant agreement. 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.

 

Ordinary Shares 

Class A ordinary shareholders and Class B ordinary shareholders
of record are entitled to one vote for each share held on all matters to be voted on by shareholders, and vote together as a single
class, except as may otherwise be required by law. Unless specified otherwise in the Companies Law (2020 Revision) of the Cayman
Islands (the “Companies Law”), our amended and restated memorandum and articles of association 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 would require a special resolution under Cayman Islands law 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. There is no cumulative voting
with respect to the appointment of directors. Our shareholders are entitled to receive dividends when, as and if declared by the
board of directors out of funds legally available therefor.

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 (which interest shall be net of taxes payable), divided
by the number of then issued and outstanding public shares, subject to the limitations described herein. The per-share amount
we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting commissions we
will pay to the underwriters. The redemption rights will include the requirement that a beneficial owner must identify itself in
order to validly redeem its shares. Our initial shareholders, directors and officers have entered into a letter 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 the completion of our initial business combination or certain amendments to our amended and restated
memorandum and articles of association. A copy of this letter agreement is a separate exhibit to the Report. Permitted transferees
of our initial shareholders, directors or officers will be subject to the same obligations.

    1 

     

    

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 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 more than an aggregate of 15% of the ordinary
shares sold in our initial public offering, which we refer to as the “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 the business combination. As a result, such shareholders 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.

In the event of a liquidation, dissolution or winding up of
the company after a business combination, our shareholders at such time will be 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 shareholders with the opportunity to redeem their public shares for cash equal to their
pro rata share of the aggregate amount then on deposit in the trust account, including interest (which interest shall be net of
taxes payable), upon the completion of our initial business combination, subject to the limitations described herein.

Redeemable 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 30 days after the completion of our initial business combination and 12 months
from the closing of our initial public offering, except as described below. Pursuant to the warrant agreement, a warrant holder
may exercise its warrants only for a whole number of Class A ordinary shares. 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 of 1933, as amended (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 thereto is available, subject
to our satisfying our obligations described below with respect to registration, or a valid ex emption from registration is available,
including in connection with a cashless exercise. No warrant will be exercisable for cash or on a cashless basis, and we will not
be obligated to issue any shares to holders seeking to exercise their warrants, unless the issuance of the shares upon such exercise
is registered or qualified under the securities laws of the state of the exercising holder, or an exemption is available. 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 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 not registered the Class A ordinary shares issuable
upon exercise of the warrants at this time. However, we have agreed that as soon as practicable, but in no event later than 15
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 covering the issuance, 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 thereto, until the expiration of the warrants in accordance with the provisions of the warrant agreement.
Notwithstanding the above, if our Class A ordinary shares are, at the time of any exercise of a warrant, not listed on a national
securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the
Securities Act, we may, at our option, require holders of public warrants who exercise their warrants to do so on a “cashless
basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event we so elect, we will not be required
to file or maintain in effect a registration statement, but will use our commercially reasonable 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 quotient obtained by dividing
(x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the “fair
market value” (as defined below) less the exercise price of the warrants by (y) the fair market value. The “fair market
value” 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.

    2 

     

    

 

Redemption of warrants. 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
not less than 30 days’ prior written notice of redemption to each warrant holder; and

•        if,
and only if, the last reported sale 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 (which
we refer to as the “Reference Value”) equals or exceeds $18.00 per share (as adjusted for share sub-divisions, share
dividends, rights issuances, consolidations, reorganizations, recapitalizations and the like).

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.

If we call the warrants for redemption as described above,
our management will have the option to require any holder that wishes to exercise its warrant to do so on a “cashless basis.”
In determining whether to require all holders to exercise their warrants on a “cashless basis,” our management will
consider, among other factors, our cash position, the number of warrants that are outstanding and the dilutive effect on our shareholders
of issuing the maximum number of Class A ordinary shares issuable upon the exercise of our warrants. If our management takes advantage
of this option, all holders of warrants would pay the exercise price by surrendering their warrants for that number of Class A
ordinary shares equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying
the warrants, multiplied by the excess of the “fair market value” over the exercise price of the warrants by (y) the
fair market value. The “fair market value” shall mean the average last reported sale 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 redemption is sent to the
holders of warrants. If our management takes advantage of this option, the notice of redemption will contain the information necessary
to calculate the number of shares of Class A ordinary shares to be received upon exercise of the warrants, including the “fair
market value” in such case. Requiring a cashless exercise in this manner will reduce the number of shares to be issued and
thereby lessen the dilutive effect of a warrant redemption. We believe this feature is an attractive option to us if we do not
need the cash from the exercise of the warrants after our initial business combination. If we call our warrants for redemption
and our management does not take advantage of this option, our sponsor and its permitted transferees would still be entitled to
exercise their private placement warrants for cash or on a cashless basis using the same formula described above that other warrant
holders would have been required to use had all warrant holders been required to exercise their warrants on a cashless basis, as
described in more detail below.

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.

    3 

     

    

 

Anti-dilution adjustments. The warrants
have certain anti-dilution and adjustments rights upon certain events.

In addition, if (x) we issue
additional 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 completion 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, and the $18.00 per share redemption trigger price described above will be adjusted
(to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price.

The warrants will be issued
in registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us.
The warrant agreement provides that the terms of the warrants may be amended without the consent of any holder for the purpose
of (i) curing any ambiguity or 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 Report, or defective provision or (ii) 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 a majority 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 in connection with our initial 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 will be issued upon separation of the
units and only whole warrants will trade.

 

 

 

    4

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