Document:

Exhibit 10.1

 

 

THIRD AMENDMENT TO LOAN AND SECURITY
AGREEMENT

THIS THIRD AMENDMENT
TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is made and entered into on September 27, 2021, by and among
SWK HOLDINGS CORPORATION, a Delaware corporation (“Holdings”), SWK FUNDING LLC, a Delaware limited
liability company (“SWK”, and together with Holdings and each other Person party hereto as a borrower from time
to time, collectively, “Borrowers” and each a “Borrower”), the financial institutions party
to the Loan Agreement (as defined below) as “Lenders” (“Lenders”), and CADENCE BANK, N.A.,
a national banking association and successor-by-merger to State Bank and Trust Company, a Georgia banking corporation, as agent
for Lenders (in such capacity, “Agent”).

Recitals:

Agent, Lenders,
and Borrowers are parties to a certain Loan and Security Agreement dated June 29, 2018 (as at any time amended, restated, supplemented
or otherwise modified, the “Loan Agreement”), pursuant to which Agent and Lenders have and may from time to
time make loans and other financial accommodations to Borrowers.

Borrowers, Agent
and Lenders desire to amend the Loan Agreement on the terms and subject to the conditions set forth in this Amendment.

NOW, THEREFORE,
for TEN DOLLARS ($10.00) in hand paid and other good and valuable consideration, the receipt and sufficiency of which are hereby
severally acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

1.            Definitions.
Capitalized terms used in this Amendment, unless otherwise defined herein, shall have the meanings ascribed to such terms in the
Loan Agreement.

2.            Amendments
to Loan Agreement. Subject to satisfaction of the Conditions Precedent (as defined below), the Loan Agreement is hereby
amended as follows:

(a)          By deleting
the reference to “$20,000,000” on the title page to the Loan Agreement and by substituting in lieu thereof a reference
to “$22,000,000.”

(b)           By adding
the following new definitions to Section 1.1 of the Loan Agreement in the proper alphabetical order:

“Available
Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (x) if the
then-current Benchmark is a term rate, any tenor for such Benchmark that is or may be used for determining the length of an interest
period or (y) otherwise, any payment period for interest calculated with reference to such Benchmark, as applicable, pursuant to
this Agreement as of such date.

“Benchmark”
means, initially, USD LIBOR; provided that if a replacement of the Benchmark has occurred pursuant to Section 3.1.5,
“Benchmark Replacement Setting,” then “Benchmark” means the applicable Benchmark Replacement
to the extent that such Benchmark Replacement has replaced such prior benchmark rate. Any reference to “Benchmark” shall
include, as applicable, the published component used in the calculation thereof.

    	 

    	 

    

“Benchmark
Replacement” means, for any Available Tenor:

(1)              
For purposes of clause (a) of Section 3.1.5, the first alternative set forth below that can be determined by Agent:

(a)               
the sum of: (i) Term SOFR and (ii) 0.11448% (11.448 basis points) for an Available Tenor of one-month’s duration,
0.26161% (26.161 basis points) for an Available Tenor of three-month’s duration, and 0.42826% (42.826 basis points) for an
Available Tenor of six-months’ duration;

(b)              
the sum of: (i) Daily Simple SOFR and (ii) the spread adjustment selected or recommended by the Relevant Governmental Body
for the replacement of the tenor of USD LIBOR with a SOFR-based rate having approximately the same length as the interest payment
period specified in clause (a) of Section 3.1.5;

provided that if a Borrower
has a Hedging Agreement in effect with respect to all or part of a Loan, in order to more closely align the floating interest rate
under such Loan with the floating rate option under such Hedging Agreement, and giving due consideration to evolving standards
and market practice, Agent may, in its discretion, replace the Benchmark Replacement in paragraph (b) of this definition with the
sum of (i) Daily Compounded SOFR and (ii) the spread adjustment that would apply to the fallback rate for a derivative transaction
referencing the ISDA Definitions; provided further that, in such event, Agent shall provide written notice of such
election to Borrower Agent and Lenders prior to the replacement of USD LIBOR under clause (a) of Section 3.1.5;

(2)              
For purposes of clause (b) of Section 3.1.5, the sum of (a) the alternate benchmark rate and (b) an adjustment (which
may be a positive or negative value or zero), in each case, that has been selected by Agent as the replacement for such Available
Tenor of such Benchmark giving due consideration to any evolving or then-prevailing market convention, including any applicable
recommendations made by the Relevant Governmental Body, for U.S. dollar-denominated syndicated credit facilities at such time;
and

(3)              
For purposes of clause (c) of Section 3.1.5, the “Benchmark Replacement” shall revert to and shall mean
the Benchmark Replacement set forth in clause (a) of Section 3.1.5 in respect of any subsequent Benchmark setting.

Notwithstanding anything to the
contrary herein, if the Benchmark Replacement as determined pursuant to any clause in this definition would be less than the Floor,
the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents.

“Benchmark
Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational
changes (including changes to the definition of “ABR,” the definition of “Business Day,” timing and frequency
of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices,
the applicability and length of lookback periods or observation shifts, the applicability of breakage provisions, and other technical,
administrative or operational matters) that Agent decides may be appropriate to reflect the adoption and implementation of such
Benchmark Replacement and to permit the administration thereof by Agent in a manner substantially consistent with market practice
(or, if Agent decides that adoption of any portion of such market practice is not administratively feasible or if Agent determines
that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as
Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

    	-2-

    	 

    

“Benchmark
Transition Event” means, with respect to any then-current Benchmark other than USD LIBOR, the occurrence of a public statement
or publication of information by or on behalf of the administrator of the then-current Benchmark, the regulatory supervisor for
the administrator of such Benchmark, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York,
an insolvency official with jurisdiction over the administrator for such Benchmark, a resolution authority with jurisdiction over
the administrator for such Benchmark, or a court or an entity with similar insolvency or resolution authority over the administrator
for such Benchmark, announcing or stating that (a) such administrator has ceased or will cease on a specified date to provide all
Available Tenors of such Benchmark, permanently or indefinitely, provided that, at the time of such statement or publication, there
is no successor administrator that will continue to provide any Available Tenor of such Benchmark or (b) all Available Tenors of
such Benchmark are or will no longer be representative of the underlying market and economic reality that such Benchmark is intended
to measure and that representativeness will not be restored.

“Daily
Compounded SOFR” means, for any day, SOFR, with interest accruing on a compounded daily basis, with the methodology and
conventions for this rate (which may include compounding in arrears with a lookback or observation shift) being established by
Agent in accordance with a methodology and the conventions for this rate recommended (x) by the Relevant Governmental Body for
determining “Daily Compounded SOFR” for syndicated credit facilities or (y) by reference to the ISDA Definitions for
derivatives comparable to any applicable Hedging Agreement; provided, that if Agent decides that any such convention is
not administratively feasible for Agent, then Agent may establish another convention in its reasonable discretion.

“Daily
Simple SOFR” means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established
by Agent in accordance with the conventions for this rate recommended by the Relevant Governmental Body for determining “Daily
Simple SOFR” for syndicated credit facilities; provided, that if Agent decides that any such convention is not administratively
feasible for Agent, then Agent may establish another convention in its reasonable discretion.

“Early
Opt-in Effective Date” means, with respect to any Early Opt-in Election, the sixth (6th) Business Day after the date notice
of such Early Opt-in Election is provided to Borrower, Agent and Lenders, so long as Agent has not received, by 5:00 p.m. (New
York City Time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders,
written notice of objection to such Early Opt-in Election from Lenders comprising the Required Lenders.

“Early
Opt-in Election” means the occurrence of:

(1)              
A determination by the Agent that at least five currently outstanding U.S. dollar-denominated syndicated credit facilities
at such time contain (as a result of amendment or as originally executed) a SOFR-based rate (including SOFR, a term SOFR or any
other rate based upon SOFR) as a benchmark rate (and such credit facilities are identified in the notice to Borrower Agent described
in clause (2) below), and

(2)              
the
election by Agent to trigger a fallback from USD LIBOR and the provision by Agent of written notice of such election to Lenders
and Borrower Agent.

    	-3-

    	 

    

“Floor”
means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification,
amendment, or renewal of this Agreement or otherwise) with respect to the Daily LIBOR Rate.

“ISDA
Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or
any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives
published from time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto.

“Relevant
Governmental Body” means the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York,
or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank
of New York, or any successor thereto.

“SOFR”
means a rate per annum equal to the secured overnight financing rate for such Business Day published by the Federal Reserve Bank
of New York (or a successor administrator of the secured overnight financing rate) on the website of the Federal Reserve Bank of
New York, currently at http://www.newyorkfed.org (or any successor source for the secured overnight financing rate identified as
administrator of the secured overnight financing rate from time to time).

“Term
SOFR” means, for the applicable corresponding tenor, the forward-looking term rate based on SOFR that has been selected
or recommended by the Relevant Governmental Body.

“Term
SOFR Notice” means a notification by Agent to Lenders and Borrower Agent of the occurrence of a Term SOFR
Transition Event.

“Term
SOFR Transition Event” means the determination by Agent that (a) Term SOFR has been recommended for use by the Relevant
Governmental Body, (b) the administration of Term SOFR is administratively feasible for Agent and (c) a Benchmark Transition Event
has previously occurred resulting in a Benchmark Replacement that is not Term SOFR.

“Third
Amendment” means that certain Third Amendment to Loan and Security Agreement dated the Third Amendment Date, among Borrowers,
Agent and Lenders.

“Third
Amendment Date” means September 27, 2021.

“USD
LIBOR” means the London interbank offered rate for U.S. dollars.

    	-4-

    	 

    

(c)           By deleting
(i) both of the definitions of “Cadence,” and (ii) the definitions of each of “Daily LIBOR Rate,”
“Hedging Agreement” and “Revolver Termination Date,” in each case, in Section 1.1
of the Loan Agreement and substituting in lieu thereof the following:

“Cadence”
means Cadence Bank, N.A., a national bank, as successor by merger to State Bank and Trust Company, a Georgia banking corporation,
and its successors and assigns.

“Daily
LIBOR Rate” means, on any day, the greater of (a) 1.00% and (b) the USD LIBOR as shown in the Wall Street Journal on such
day for United States dollar deposits for the one month delivery of funds in amounts approximately equal to the principal amount
of the Loan for which such rate is being determined or, if such day is not a Business Day on the immediately preceding Business
Day. If the Wall Street Journal for any reason ceases to publish a USD LIBOR, then the Daily LIBOR Rate shall be as published from
time to time and any other publication or reference source designated by Agent in its discretion (but, in any event, not less than
1.00% per annum at any time). The Daily LIBOR Rate is a reference rate and does not necessarily represent the best or lowest rate
charged by Lender.

“Hedging
Agreement” means any “swap agreement” as defined in Section 101(53B)(A) of the Bankruptcy Code and in any event
shall include any currency swap, option, future or forward agreement.

“Revolver
Termination Date” means September 30, 2022.

(d)           By deleting
the reference to “5,000,000” in Section 2.1.7 of the Loan Agreement in its entirety and substituting in lieu
thereof “$2,000,000.”

(e)           By deleting
Section 3.1.3 of the Loan Agreement in its entirety and substituting in lieu thereof the following:

3.1.3 Types
of Loans. Except as otherwise provided in this Agreement, including pursuant to Section 3.1.4, 3.1.5, 3.5
or 3.6, all Loans shall be made as LIBOR Index Loans.

(f)            By
adding a new Section 3.1.5 immediately after Section 3.1.4 of the Loan Agreement as follows:

3.1.5 Benchmark
Replacement Setting. Notwithstanding anything to the contrary in any promissory note or in any other Loan Document (and any
Hedging Agreement shall be deemed not to be a “Loan Document” for purposes of this Section 3.1.5):

(a)           Replacing USD LIBOR.
On March 5, 2021 the Financial Conduct Authority (“FCA”), the regulatory supervisor of USD LIBOR’s administrator
(“IBA”), announced in a public statement the future cessation or loss of representativeness of overnight/Spot Next, 1-month,
3-month, 6-month, and 12-month USD LIBOR tenor settings. On the earlier of (i) the date that all Available Tenors of USD LIBOR
have either permanently or indefinitely ceased to be provided by IBA or have been announced by the FCA pursuant to public statement
or publication of information to be no longer representative and (ii) the Early Opt-in Effective Date, if the then-current Benchmark
is USD LIBOR, the Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect
of any setting of such Benchmark on such day and all subsequent settings without any amendment to, or further action or consent
of any other party to this Agreement or any other Loan Document. If the Benchmark Replacement is Daily Simple SOFR or Daily Compounded
SOFR, all interest payments will be payable on a monthly basis.

    	-5-

    	 

    

(b)           Replacing Future Benchmarks.
Upon the occurrence of a Benchmark Transition Event, the Benchmark Replacement will replace the then-current Benchmark for all
purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on
the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to Borrower Agent and Lenders without
any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as Agent
has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required
Lenders.

At any time that the administrator
of the then-current Benchmark has permanently or indefinitely ceased to provide such Benchmark or such Benchmark has been announced
by the regulatory supervisor for the administrator of such Benchmark pursuant to public statement or publication of information
to be no longer representative of the underlying market and economic reality that such Benchmark is intended to measure and that
representativeness will not be restored, Borrowers may revoke any request for a borrowing of, conversion to, or continuation of
Loans to be made, converted, or continued that would bear interest by reference to such Benchmark until Borrower Agent’s
receipt of notice from Agent that a Benchmark Replacement has replaced such Benchmark, and, failing that, Borrowers will be deemed
to have converted any such request into a request for a borrowing of or conversion to Base Rate Loans. During the period referenced
in the foregoing sentence, the component of Base Rate based upon the Benchmark, if applicable, will not be used in any determination
of the Base Rate.

(c)           Term SOFR Reversion.
Upon the occurrence of a Term SOFR Transition Event, the Benchmark Replacement will replace the then-current Benchmark for all
purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on
the fifth (5th) Business Day after the date a Term SOFR Notice is provided to Borrower Agent and Lenders without any amendment
to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as Agent has not received,
by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders.

(d)           Benchmark Replacement
Conforming Changes. In connection with the implementation and administration of a Benchmark Replacement, Agent will have the
right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein,
in any promissory note, or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes
will become effective without any further action or consent of any other party to this Agreement.

    	-6-

    	 

    

(e)           Notices; Standards for
Decisions and Determinations. Agent will promptly notify Borrower Agent and the Lenders of (i) the implementation of any Benchmark
Replacement and (ii) the effectiveness of any Benchmark Replacement Conforming Changes. Any determination, decision, or election
that may be made by Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section 3.1.5,
including any determination with respect to a tenor, rate, or adjustment or of the occurrence or non-occurrence of an event, circumstance,
or date and any decision to take or refrain from taking any action, will be conclusive and binding absent manifest error and may
be made in its or their sole discretion and without consent from any other party hereto, except, in each case, as expressly required
pursuant to this Section 3.1.5.

(f)           Unavailability of Tenor
of Benchmark. At any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current
Benchmark is a term rate (including Term SOFR or USD LIBOR), then Agent may remove any tenor of such Benchmark that is unavailable
or non-representative for Benchmark (including Benchmark Replacement) settings and (ii) Agent may reinstate any such previously
removed tenor for Benchmark (including Benchmark Replacement) settings.

(g)           Limitation of Liability.
Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration,
submission, or any other matter related to USD LIBOR or any alternative, successor, or replacement rate, including, without limitation,
the implementation of any Benchmark Replacement or any Benchmark Replacement Conforming Changes or whether the composition or characteristics
of any alternative, successor or replacement reference rate will be similar to, or produce the same value or economic equivalence
of, USD LIBOR or have the same volume or liquidity as did USD LIBOR prior to its discontinuance or unavailability.

(g)           By adding the following Section
3.2.3 immediately following Section 3.2.2 of the Loan Agreement:

3.2.3Minimum
Income Fee. Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders, in arrears on the first day of each calendar
quarter and on the Termination Date a fee equal the greater of (i) zero and (ii) an amount equal to the sum of (A) $60,0000 per
quarter (or, in the case of any payment thereof on the Termination Date if the Termination Date does not occur on the first day
of a calendar quarter, a pro-rated portion thereof based upon the number of days elapsed in the calendar quarter in which the Termination
Date occurs) minus (B) (1) the aggregate amount of interest paid with respect to the Loans during the immediately preceding calendar
quarter (or portion thereof if such payment is made on the Termination Date and the Termination Date does not occur on the first
day of a calendar quarter) and (2) the fees payable pursuant to Section 3.2.1 during the immediately preceding calendar
quarter (or portion thereof if such payment is made on the Termination Date and the Termination Date does not occur on the first
day of a calendar quarter). 

(h)           By deleting Schedule 1.1(b)
of the Loan Agreement and by substituting in lieu thereof the Schedule 1.1(b) attached to this Amendment.

    	-7-

    	 

    

(i)            By deleting the references
to “State Bank and Trust Company” in Schedule 2 of the Loan Agreement and by substituting in lieu thereof “Cadence
Bank, N.A.”

3.           Ratification
and Reaffirmation. Each Borrower hereby ratifies and reaffirms the Obligations, each of the Loan Documents, and all of
such Borrower’s covenants, duties, indebtedness and liabilities under the Loan Documents.

4.            Acknowledgments
and Stipulations. Each Borrower acknowledges and stipulates that each of the Loan Documents executed by such Borrower creates
legal, valid and binding obligations of such Borrower that are enforceable against such Borrower in accordance with the terms thereof,
except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights
generally; that all of the Obligations are owing and payable without defense, offset or counterclaim (and to the extent there exists
any such defense, offset or counterclaim on the date hereof, the same is hereby knowingly and voluntarily waived by each Borrower);
that the Liens granted by each Borrower in favor of Agent are duly perfected, first priority Liens, subject only to Permitted Liens
that are expressly allowed to have priority over Agent’s Liens; and that the unpaid principal amount of the Revolver Loans
as of the opening of business on September 14, 2021, totaled $-0-.

5.            Representations
and Warranties. Each Borrower represents and warrants to Agent and Lenders, to induce Agent and Lenders to enter into this
Amendment, that no Default or Event of Default exists on the date hereof; that the execution, delivery and performance of this
Amendment have been duly authorized by all requisite corporate or limited liability company action, as applicable, on the part
of such Borrower and this Amendment has been duly executed and delivered by such Borrower; and that all of the representations
and warranties made by such Borrower in the Loan Agreement are true and correct on the date hereof (except for representations
and warranties that expressly relate to an earlier date).

6.            Reference
to Loan Agreement. Upon the effectiveness of this Amendment, each reference in the Loan Agreement to “this Agreement,”
“hereunder,” or words of like import shall mean and be a reference to the Loan Agreement, as amended by this Amendment.

7.            Breach
of Amendment. This Amendment shall be part of the Loan Agreement and a breach of any representation, warranty or covenant
herein shall constitute an Event of Default.

8.           Conditions
Precedent. The effectiveness of the amendment contained in Section 2 hereof is subject to the satisfaction of each
of the following conditions precedent (collectively, the “Conditions Precedent”), in form and substance satisfactory
to Agent, unless satisfaction thereof is specifically waived in writing by Agent:

(a)            Agent shall
have received counterparts of each of the following, duly executed by each Person party thereto:

(i)            this
Amendment;

(ii)           a
Confirmation and Reaffirmation, in the form attached to this Amendment;

(iii)          an
Amended and Restated Revolver Note;

(iv)          a
Secretary’s Certificate of Resolutions of the Board of Directors of Holdings, in the form attached to this Amendment; and

(v)           Secretary’s
Certificates of Resolutions of the Board of Managers of each Guarantor, in the form attached to this Amendment; and

    	-8-

    	 

    

(b)           Borrowers
shall have paid all fees and expenses required to be paid on the date hereof pursuant to Section 9 hereof.

9.            Amendment
Fee; Expenses of Agent. In consideration of Agent’s and Lenders’ willingness to enter into this Amendment,
Borrowers jointly and severally agree to pay to Agent, for the benefit of Lenders, an amendment fee in the amount of $50,000 in
immediately available funds on the date hereof. Borrowers hereby request that Lenders make a Revolver Loan in the amount of such
fee and apply such Revolver Loan in direct payment of such fee. In addition, Borrowers jointly and severally agree to pay, on
demand, all costs and expenses incurred by Agent in connection with the preparation, negotiation and execution of this Amendment
and any other Loan Documents executed pursuant hereto and any and all amendments, modifications, and supplements thereto, including,
without limitation, the reasonable costs and fees of Agent’s legal counsel and any taxes, filing fees and other expenses
associated with or incurred in connection with the execution, delivery or filing of any instrument or agreement referred to herein
or contemplated hereby. Borrowers acknowledge and agree that Agent and the Lenders may, at any time or from time to time in its
discretion and without any prior demand on or further authorization by Borrower, make one or more Revolver Loans to Borrowers
under the Loan Agreement, or apply the proceeds of any Revolver Loan, for the purpose of paying any of the fees, disbursements,
costs or expenses described in this section.

10.          Release
of Claims. To induce Agent and Lenders to enter into this Amendment, each Borrower (each Borrower being referred to herein
as a “Releasor”) hereby releases, acquits and forever discharges
Agent and Lenders, and all officers, directors, agents, employees, successors and assigns of Agent and Lenders, from any and all
liabilities, claims, demands, actions or causes of action of any kind or nature (if there be any), whether absolute or contingent,
disputed or undisputed, at law or in equity, or known or unknown, that such Releasor now has or ever had against Agent or any
Lender arising under or in connection with any of the Loan Documents or otherwise. Each Releasor represents and warrants to Agent
and Lenders that such Releasor has not transferred or assigned to any Person any claim that such Releasor ever had or claimed
to have against Agent or any Lender. 

11.          Effectiveness;
Governing Law. This Amendment shall be effective upon acceptance by Agent in Atlanta, Georgia (notice of which acceptance
is hereby waived), whereupon the same shall be governed by and construed in accordance with the internal laws of the State of
Georgia, without giving effect to any conflict of law principles (but giving effect to federal laws relating to national banks).

12.          No
Novation, etc. Except as otherwise expressly provided in this Amendment, nothing herein shall be deemed to amend or modify
any provision of the Loan Agreement or any of the other Loan Documents, each of which shall remain in full force and effect. This
Amendment is not intended to be, nor shall it be construed to create, a novation or accord and satisfaction, and the Loan Agreement
as herein modified shall continue in full force and effect.

13.          Successors
and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

14.          Further
Assurances. Each Borrower agrees to take such further actions as Agent shall reasonably request from time to time in connection
herewith to evidence or give effect to the amendments set forth herein or any of the transactions contemplated hereby.

    	-9-

    	 

    

15.          Miscellaneous.
This Amendment may be executed in any number of counterparts and by different parties to this Amendment on separate counterparts,
each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute one and the same agreement.
Any manually executed signature page to this Amendment delivered by a party by facsimile or other electronic transmission shall
be deemed to be an original signature hereto. Section titles and references used in this Amendment shall be without substantive
meaning or content of any kind whatsoever and are not a part of the agreements among the parties hereto. This Amendment expresses
the entire understanding of the parties with respect to the subject matter hereof and may not be amended except in a writing signed
by the parties.

16.          Waiver
of Jury Trial. To the fullest extent permitted by applicable law, each party hereby waives the right to trial by jury
in any action, suit, counterclaim or proceeding arising out of or related to this Amendment.

[Remainder of page intentionally left
blank;

signatures appear on the following page(s).]

    	-10-

    	 

    

IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be duly executed under seal, and delivered by their respective duly authorized
officers on the date first written above.

	 	 	 	 
	 	 	BORROWERS:
	 	 	 
	ATTEST:	 	SWK HOLDINGS
    CORPORATION
	 	 	 
	/s/ DAVID EARHART	 	By:	 /s/ WINSTON BLACK
	David Earhart,
    Secretary	 	Name: Winston
    Black, III
	 	 	Title: Chief Executive
    Officer
	[SEAL]	 	 
	 	 	 
	ATTEST: 	 	SWK FUNDING
    LLC
	 	 	 
	 	 	By:  SWK
    HOLDINGS CORPORATION,
	 	 	its sole manager
	 	 	 
	/s/
    DAVID EARHART	 	By: 	/s/ WINSTON BLACK
	David Earhart,
    Secretary of SWK	 	Name:  Winston
    Black, III
	Holdings Corporation,
    the sole manager	 	Title:   
    Chief Executive Officer
	of SWK Funding
    LLC	 	 
	 	 	 
	[SEAL]	 	 

 

[Signatures continue on the following page.]

    	 

    	 

    

	 	 	 
	 	AGENT
    AND LENDERS:
	 	 
	 	CADENCE
    BANK, N.A., as successor-by-merger to
	 	STATE
    BANK AND TRUST COMPANY,
	 	as Agent
    and a Lender    
	 	 
	 	By:  	/s/
    B. EARL GARRIS
	 	Name:
    B. Earl Garris
	 	Title: Vice
    PresidentEX-4.4

 Exhibit 4.4 

WARRANT AGREEMENT 

between 
 ANTHEMIS
DIGITAL ACQUISITIONS I CORP 
 and 

CONTINENTAL STOCK TRANSFER & TRUST COMPANY 

Dated [ • ], 2021 

THIS WARRANT AGREEMENT (this “Agreement”), dated [ • ], 2021, is by and between Anthemis Digital
Acquisitions I Corp, a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company, a New York limited purpose trust company, as warrant agent (in such capacity, the
“Warrant Agent”). 
 WHEREAS, it is proposed that the Company enter into that certain Private Placement
Warrants Purchase Agreement, with Anthemis Digital Acquisitions I Sponsor LP, a Cayman Islands exempted limited partnership (the “Sponsor”), pursuant to which the Sponsor will purchase an aggregate of 5,000,000
warrants (or up to 5,500,000 warrants depending on the extent to which the underwriters in the Offering (defined below) exercise their Overallotment Option (as defined below)) simultaneously with the closing of the Offering (and the closing of the
Over-allotment Option, if applicable), bearing the legend set forth in Exhibit B hereto (the “Private Placement Warrants”) at a purchase price of $1.50 per Private Placement Warrant. Each
Private Placement Warrant entitles the holder thereof to purchase one Ordinary Share (as defined below) at a price of $11.50 per share, subject to adjustment as described herein; and 

WHEREAS, in order to finance the Company’s transaction costs in connection with an intended initial merger, share exchange, asset
acquisition, share purchase, reorganization or similar business combination, involving the Company and one or more businesses (a “Business Combination”), the Sponsor or an affiliate of the Sponsor or certain of the
Company’s officers and directors may, but are not obligated to, loan the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible into up to an additional 500,000 Private Placement Warrants at a price
of $1.50 per Private Placement Warrant; and 
 WHEREAS, the Company is engaged in an initial public offering (the
“Offering”) of units of the Company’s equity securities, each such unit comprised of one Ordinary Share and a fraction of a Public Warrant (as defined below) (the “Units”) and, in
connection therewith, has determined to issue and deliver up to 9,583,333 redeemable warrants (including up to 1,250,000 redeemable warrants to the extent the Over-allotment Option is exercised) to public investors in the Offering (the
“Public Warrants” and, together with the Private Placement Warrants, the “Warrants”). Each whole Warrant entitles the holder thereof to purchase one Class A ordinary share of the Company,
par value $0.0001 per share (“Ordinary Shares”), for $11.50 per share, subject to adjustment as described herein. Only whole Warrants are exercisable. A holder of the Warrants will not be able to exercise any
fraction of a Warrant; and 
 WHEREAS, the Company has filed with the Securities and Exchange Commission (the
“Commission”) registration statements on Form S-1, File Nos. 333-[ • ] and
333-[ • ], and a prospectus (the “Prospectus”), for the registration, under the Securities Act of 1933, as amended (the “Securities
Act”), of the Units, the Public Warrants and the Ordinary Shares included in the Units; and 

  
 1 

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

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

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

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

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

2. Warrants. 
 2.1.
Form of Warrant. Each Warrant shall initially be issued in registered form only. 
 2.2. Effect of Countersignature. If
a physical certificate is issued, unless and until countersigned by the Warrant Agent pursuant to this Agreement, a certificated Warrant shall be invalid and of no effect and may not be exercised by the holder thereof. 

2.3. Registration. 

2.3.1. Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”),
for the registration of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants in book-entry form, the Warrant Agent shall issue and register the Warrants in the names of the respective holders
thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. Ownership of beneficial interests in the Public Warrants shall be shown on, and the transfer of such ownership shall be
effected through, records maintained by institutions that have accounts with The Depository Trust Company (the “Depositary”) (such institution, with respect to a Warrant in its account, a
“Participant”). 
 If the Depositary subsequently ceases to make its book-entry settlement system available
for the Public Warrants, the Company may instruct the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible for, or it is no longer necessary to have the Public Warrants
available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each book-entry Public Warrant, and the Company shall instruct the Warrant Agent to deliver to the
Depositary definitive certificates in physical form evidencing such Warrants (“Definitive Warrant Certificates”) which shall be in the form annexed hereto as Exhibit A. 

  
 2 

 Physical certificates, if issued, shall be signed by, or bear the facsimile signature of,
the Chairman or Co-Chairman of the Board, Chief Executive Officer, President, Chief Financial Officer, Chief Operating Officer, General Counsel, Secretary or other principal officer of the Company. In the
event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had
not ceased to be such at the date of issuance. 
 2.3.1. Registered Holder. Prior to due presentment for
registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”) as the absolute owner
of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on any physical certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and
for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. 
 2.4.
Detachability of Warrants. The Ordinary Shares and Public Warrants comprising the Units shall begin separate trading on the 52nd day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or
federal holiday, on which banks in New York City are generally open for normal business (a “Business Day”), then on the immediately succeeding Business Day following such date, or earlier (the “Detachment
Date”) with the consent of Barclays Capital Inc. and Credit Suisse Securities (USA) LLC, but in no event shall the Ordinary Shares and the Public Warrants comprising the Units be separately traded until (A) the Company has
filed (i) a Current Report on Form 8-K with the Commission containing an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering, including the proceeds then
received by the Company from the exercise by the underwriters of their right to purchase additional Units in the Offering (the “Over-allotment Option”), if the Over-allotment Option is exercised prior to the filing of
the Current Report on Form 8-K and (ii) a second or amended Current Report on Form 8-K to provide updated financial information to reflect the exercise of the
underwriters’ Over-allotment Option, if the Over-allotment Option is exercised following the initial filing of such Current Report on Form 8-K, and (B) the Company issues a press release announcing
when such separate trading shall begin. 
 2.5. Fractional Warrants. The Company shall not issue fractional Warrants other than as
part of the Units, each of which is comprised of one Ordinary Share and a fraction of one whole Public Warrant. If, upon the detachment of Public Warrants from the Units or otherwise, a holder of Warrants would be entitled to receive a fractional
Warrant, the Company shall round down to the nearest whole number the number of Warrants to be issued to such holder. 
 2.6. Private
Placement Warrants. 
 2.6.1. The Private Placement Warrants shall be identical to the Public Warrants, except that
(i) the Private Placement Warrants may be exercised for cash or on a “cashless basis,” pursuant to subsection 3.3.1(c) hereof, (ii) the Private Placement Warrants (and Ordinary Shares issuable upon
exercise of the Private Placement Warrants) may be subject to certain transfer restrictions contained in the letter agreement by and between the Company and each of the Sponsor and other parties thereto, as may be amended from time to time,
including that any permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions contained in such letter agreement, (iii) the Private Placement Warrants shall not be redeemable by
the Company pursuant to Section 6.1 hereof and (iv) the holders of the Private Placement Warrants (including the Class A ordinary shares issuable upon exercise of such warrants) are entitled to registration
rights. 

  
 3 

 3. Terms and Exercise of Warrants. 

3.1. Warrant Price. Each whole Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant and of
this Agreement, to purchase from the Company the number of Ordinary Shares stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section 4 hereof and in the last sentence of this
Section 3.1. The term “Warrant Price” as used in this Agreement shall mean the price per share (including in cash or by payment of Warrants pursuant to a “cashless exercise,” to the extent
permitted or required hereunder) described in the prior sentence at which Ordinary Shares may be purchased at the time a Warrant is exercised. 

The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not
less than fifteen Business Days (unless otherwise required by the Commission, any national securities exchange on which the Warrants are listed or applicable law); provided that the Company shall provide at least three Business Days’ prior
written notice of such reduction to Registered Holders of the Warrants; and provided further, that any such reduction shall be identical among all of the Warrants. 

3.2. Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) (A)
commencing on the date that is thirty (30) days after the first date on which the Company completes a Business Combination and (B) terminating at the earliest to occur of (x) 5:00 p.m., New York City time on the date that is five
(5) years after the date on which the Company completes its initial Business Combination, (y) the liquidation of the Company in accordance with the Company’s amended and restated memorandum and articles of association, as amended from
time to time, if the Company fails to complete a Business Combination, and (z) other than with respect to the Private Placement Warrants, 5:00 p.m., New York City time on the Redemption Date (as defined below) as provided in
Section 6.2 hereof (the “Expiration Date”); provided, however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in
subsection 3.3.2 below, with respect to an effective registration statement or a valid exemption therefrom being available. Except with respect to the right to receive the Redemption Price (as defined below) (other than
with respect to a Private Placement Warrant) in the event of a redemption (as set forth in Section 6 hereof), each Warrant (other than a Private Placement Warrant in the event of a redemption) not exercised on or before the
Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m. New York City time on the Expiration Date. The Company in its sole discretion may extend the duration of the
Warrants by delaying the Expiration Date; provided that the Company shall provide at least twenty (20) days prior written notice of any such extension to Registered Holders of the Warrants and, provided further that any such
extension shall be identical in duration among all the Warrants. 
 3.3. Exercise of Warrants. 

3.3.1. Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the
Registered Holder thereof by delivering to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants to be exercised, or, in the case of a Warrant represented by a book-entry, the
Warrants to be exercised (the “Book-Entry Warrants”) on the records of the Depositary to an account of the Warrant Agent at the Depositary designated for such purposes in writing by the Warrant Agent to the Depositary from
time to time, (ii) an election to purchase (“Election to Purchase”) any Ordinary Shares pursuant to the exercise of a Warrant, properly completed and executed by the Registered Holder on the reverse of the Definitive
Warrant Certificate or, in the case of a Book-Entry Warrant, properly delivered by the Participant in accordance with the Depositary’s procedures, and (iii) the payment in full of the Warrant Price for each Ordinary Share as to which the
Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange of the Warrant for the Ordinary Shares and the issuance of such Ordinary Shares, as follows: 

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

  
 4 

 (b) in the event of a redemption pursuant to
Section 6.1 hereof in which the Company’s board of directors (the “Board”) has elected to require all holders of the Public Warrants to exercise such Public Warrants on a “cashless basis,” by
surrendering the Public Warrants for that number of Ordinary Shares equal to the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Public Warrants, multiplied by the difference between the Warrant
Price and the “Fair Market Value”, as defined in this subsection 3.3.1(b), by (y) the Fair Market Value. Solely for purposes of this subsection 3.3.1(b) and Section 6.1, the “Fair Market
Value” shall mean the average last reported sale price of the Ordinary Shares as reported during the ten (10) trading day period ending on the trading day prior to the date on which the notice of redemption is sent to the holders of the
Warrants pursuant to Section 6.2 hereof; 
 (c) with respect to any Private Placement Warrant, by
surrendering the Warrants for that number of Ordinary Shares equal to the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the excess of the “Sponsor Exercise Fair
Market Value” (as defined in this subsection 3.3.1(c)) less the Warrant Price by (y) the Sponsor Exercise Fair Market Value. Solely for purposes of this subsection 3.3.1(c), the
“Sponsor Exercise Fair Market Value” shall mean the average last reported sale price of the Ordinary Shares for the ten (10) trading days ending on the third (3rd) trading day prior to the date on which notice of
exercise of the Private Placement Warrant is sent to the Warrant Agent; or 
 (d) as provided in
Section 7.4 hereof. 
 3.3.2. Issuance of Ordinary Shares on Exercise. As soon as
practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered Holder of such Warrant
a book-entry position or certificate, as applicable, for the number of Ordinary Shares to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it on the share transfer books of the Company, and if such
Warrant shall not have been exercised in full, a new book-entry position or countersigned Warrant, as applicable, for the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, the Company shall not
be obligated to deliver any Ordinary Shares pursuant to the exercise of a Warrant and shall have no obligation to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the Ordinary Shares underlying
the Public Warrants is then effective and a prospectus relating thereto is current, or a valid exemption from registration is available. No Warrant shall be exercisable and the Company shall not be obligated to issue Ordinary Shares upon exercise of
a Warrant unless the Ordinary Shares issuable upon such Warrant exercise have been registered, qualified or deemed to be exempt from registration or qualification under the securities laws of the state of residence of the Registered Holder of the
Warrants. Subject to Section 4.6 of this Agreement, a Registered Holder of Warrants may exercise its Warrants only for a whole number of Ordinary Shares. The Company may require holders of Public Warrants to settle their
Public Warrants on a “cashless basis” pursuant to Section 7.4. 
 If, by reason of any exercise of
Warrants on a “cashless basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in an Ordinary Share, the Company shall round down to the nearest whole number, the number of
Ordinary Shares to be issued to such holder. 

  
 5 

 3.3.3. Valid Issuance. All Ordinary Shares issued upon the proper
exercise of a Warrant in conformity with this Agreement and the Amended and Restated Memorandum and Articles of Association of the Company, and upon registration in the Register of Members of the Company, shall be validly issued, fully paid and
nonassessable. 
 3.3.4. Date of Issuance. Each person in whose name any book-entry position or certificate, as
applicable, for Ordinary Shares is issued and who is registered in the register of members of the Company shall for all purposes be deemed to have become the holder of record of such Ordinary Shares on the date on which the Warrant, or book-entry
position representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated Warrant, except that, if the date of such surrender and payment is
a date when the register of members of the Company or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the share
transfer books or book-entry system are open. 
 3.3.5. Maximum Percentage. A holder of a Warrant may notify the
Company in writing in the event it elects to be subject to the provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless
he, she or it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving
effect to such exercise, such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8% (the “Maximum Percentage”) of the Ordinary Shares
outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of Ordinary Shares beneficially owned by such person and its affiliates shall include the number of Ordinary Shares issuable
upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude Ordinary Shares that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially
owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such person and its affiliates (including, without limitation, any
convertible notes or convertible preferred shares or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial
ownership shall be 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 Ordinary
Shares, the holder may rely on the number of outstanding Ordinary Shares as reflected in (1) the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public filing with the Commission as the case may be, (2) a more recent public announcement by the Company or (3) any other
notice by the Company or American Stock Transfer & Trust Company, as transfer agent (in such capacity, the “Transfer Agent”), setting forth the number of Ordinary Shares outstanding. For any reason at any
time, upon the written request of the holder of the Warrant, the Company shall, within two Business Days, confirm orally and in writing to such holder the number of Ordinary Shares then outstanding. In any case, the number of issued and outstanding
Ordinary Shares shall be determined after giving effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the date as of which such number of issued and outstanding Ordinary Shares was reported.
By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase
shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company. 

  
 6 

 4. Adjustments. 

4.1. Share Capitalizations. 

4.1.1. Sub-Divisions. If after the date hereof, and subject to the provisions of
Section 4.6 below, the number of issued and outstanding Ordinary Shares is increased by a capitalization or share dividend of Ordinary Shares, or by a sub-division of Ordinary Shares
or other similar event, then, on the effective date of such share capitalization, sub-division or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be increased in
proportion to such increase in the issued and outstanding Ordinary Shares. A rights offering made to all holders of Ordinary Shares entitling holders to purchase Ordinary Shares at a price less than the “Historical Fair Market Value” (as
defined below) shall be deemed a capitalization of a number of Ordinary Shares equal to the product of (i) the number of Ordinary Shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights
offering that are convertible into or exercisable for the Ordinary Shares) multiplied by (ii) one (1) minus the quotient of (x) the price per Ordinary Share paid in such rights offering divided by (y) the Historical Fair Market Value.
For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for Ordinary Shares, in determining the price payable for Ordinary Shares, there shall be taken into
account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Historical Fair Market Value” means the volume weighted average price of the Ordinary Shares
during the ten (10) trading day period ending on the trading day prior to the first date on which the Ordinary Shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. No
Ordinary Shares shall be issued at less than their par value. 
 4.1.2. Extraordinary Dividends. If the Company, at
any time while the Warrants are outstanding and unexpired, pays to all holders of the Ordinary Shares a dividend or make a distribution in cash, securities or other assets on account of such Ordinary Shares (or other shares into which the Warrants
are convertible), other than (a) as described in subsection 4.1.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the Ordinary Shares in connection
with a proposed initial Business Combination, (d) to satisfy the redemption rights of the holders of the Ordinary Shares in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of
association (i) to modify the substance or timing of the Company’s obligation to provide holders of Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial Business Combination or to redeem
100% of the Company’s public shares if it does not complete its initial Business Combination within the time period required by the Company’s Amended and Restated Memorandum and Articles of Association, as amended from time to time, or
(ii) with respect to any other provision relating to the rights of holders of Ordinary Shares, (e) as a result of the repurchase of Ordinary Shares by the Company if a proposed initial Business Combination is presented to the shareholders
of the Company for approval or (f) in connection with the redemption of public shares upon the failure of the Company to complete its initial Business Combination and any subsequent distribution of its assets upon its liquidation (any such non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary
Dividend, by the amount of cash and/or the fair market value (as determined by the Board, in good faith) of any securities or other assets paid on each Ordinary Share in respect of such Extraordinary Dividend. For purposes of this
subsection 4.1.2, “Ordinary Cash Dividends” means any cash dividend or cash distribution which, when combined on a per share basis, with the per share amounts of all other cash dividends and cash
distributions paid on the Ordinary Shares during the 365-day period ending on the date of declaration of such dividend or distribution to the extent it does not exceed $0.50 (which amount shall be 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
Ordinary Shares issuable on exercise of each Warrant). 

  
 7 

 4.2. Aggregation of Shares. If after the date hereof, and subject to the provisions
of Section 4.6 hereof, the number of issued and outstanding Ordinary Shares is decreased by a consolidation, combination, reverse share split or reclassification of Ordinary Shares or other similar event, then, on the
effective date of such consolidation, combination, reverse share split, reclassification or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be decreased in proportion to such decrease in issued and outstanding
Ordinary Shares. 
 4.3. Adjustments in Exercise Price. Whenever the number of Ordinary Shares purchasable upon the exercise of the
Warrants is adjusted, as provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such
adjustment by a fraction (x) the numerator of which shall be the number of Ordinary Shares purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of Ordinary
Shares so purchasable immediately thereafter. 
 4.4. Raising of the Capital in Connection with the Initial Business Combination. If
(x) the Company issues additional Ordinary Shares 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
Ordinary Share (with such issue price or effective issue price to be determined in good faith by the Board and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Class B ordinary shares, par
value $0.0001 per share, of the Company held by the 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 the Company’s initial Business Combination on the date of the completion of the Company’s initial Business Combination (net of redemptions), and (z) the
volume-weighted average trading price of Ordinary Shares during the twenty (20) trading day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price, the
“Market Value”) is below $9.20 per share, the Warrant Price shall 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 in Section 6.1 shall be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price. If the adjustment in the immediately preceding sentence would
otherwise result in an increase in the Warrant Price (as adjusted for stock splits, stock dividends, stock combinations, recapitalizations, Extraordinary Dividends and similar events) hereunder, no adjustment shall be made. 

4.5. Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the issued and
outstanding Ordinary Shares (other than a change under Section 4.1 or Section 4.2 hereof or that solely affects the par value of such Ordinary Shares), or in the case of any merger or consolidation
of the Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the issued and outstanding Ordinary
Shares), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the holders of the
Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the Ordinary Shares of the Company immediately theretofore purchasable and receivable upon
the exercise of the rights represented thereby, the kind and amount of shares or stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following
any such sale or transfer, that the holder of the Warrants 

  
 8 

 
would have received if such holder had exercised his, her or its Warrant(s) immediately prior to such event (the “Alternative Issuance”); provided, however, that
(i) if the holders of the Ordinary Shares were entitled to exercise a right of election as to the kind or amount of securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or
other assets constituting the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be the weighted average of the kind and amount received per share by the holders of the Ordinary Shares in such consolidation or
merger that affirmatively make such election, and (ii) if a tender, exchange or redemption offer shall have been made to and accepted by the holders of the Ordinary Shares (other than a tender, exchange or redemption offer made by the Company
in connection with redemption rights held by shareholders of the Company as provided for in the Company’s amended and restated memorandum and articles of association or as a result of the redemption of Ordinary Shares by the Company if a
proposed initial Business Combination is presented to the shareholders of the Company for approval) under circumstances in which, upon completion of such tender or exchange offer, the maker thereof, together with members of any group (within the
meaning of Rule 13d-5(b)(1) under the Exchange Act) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule
12b-2 under the Exchange Act) and any members of any such group of which any such affiliate or associate is a part, own beneficially (within the meaning of Rule 13d-3
under the Exchange Act) securities representing more than 50% of the aggregate voting power represented by the issued and outstanding equity securities of the Company, the holder of a Warrant shall be entitled to receive as the Alternative Issuance,
the highest amount of cash, securities or other property to which such holder would actually have been entitled as a shareholder if such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange offer, accepted such
offer and all of the Ordinary Shares held by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the
adjustments provided for in this Section 4; provided further that if less than 70% of the consideration receivable by the holders of the Ordinary Shares in the applicable event is payable in the form of shares in the
successor entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading
or quoted immediately following such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the public disclosure of the consummation of such applicable event by the Company pursuant to a Current
Report on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars) equal to the difference of (i) the Warrant Price in effect prior to such reduction minus
(ii) (A) the Per Share Consideration (as defined below) (but in no event less than zero) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant Value” means (i) for Public
Warrants, the value of a Public Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets (assuming zero dividends) (
“Bloomberg”) and (ii) for Private Placement Warrants, the value of a Private Placement Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for an uncapped
American Call on Bloomberg, in each case, as calculated by an accounting, appraisal, investment banking firm or consultant of nationally recognized standing that is, in the good faith judgment of the Board, qualified to make such calculation.
For purposes of calculating such amount, (i) Section 6 of this Agreement shall be taken into account, (ii) the price of each Ordinary Share shall be the volume weighted average price of the Ordinary Shares
during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event, and (iii) the assumed risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the
remaining term of the Warrant. “Per Share Consideration” means (i) if the consideration paid to holders of the Ordinary Shares consists exclusively of cash, the amount of such cash per Ordinary Share, and (ii) in
all other cases, the volume weighted average price of the Ordinary Shares during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or reorganization also
results in a change in Ordinary Shares covered by subsection 4.1.1, then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this
Section 4.5. The provisions of this Section 4.5 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event shall the
Warrant Price be reduced to less than the par value per share issuable upon exercise of such Warrant. 

  
 9 

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

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

4.8. Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this
Section 4, and Warrants issued after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant to this Agreement; provided, however, that
the Company may at any time in its sole discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange
or substitution for an outstanding Warrant or otherwise, may be in the form as so changed. 
 4.9. Other Events. In case any event
shall occur affecting the Company as to which none of the provisions of the preceding subsections of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order
to (i) avoid an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint a firm of independent public accountants, investment
banking or other appraisal firm of recognized national standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose of this
Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such
opinion. 
 4.10. No Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a
result of an adjustment to the conversion ratio of the Class B ordinary shares (the “Class B Ordinary Shares”) into Ordinary Shares or the conversion of the shares of Class B
Ordinary Shares into Ordinary Shares, in each case, pursuant to the Company’s amended and restated memorandum and articles of association. 

5. Transfer and Exchange of Warrants. 

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

  
 10 

 5.2. Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant
Agent, together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered, representing an equal
aggregate number of Warrants; provided, however, that except as otherwise provided herein or with respect to any Book-Entry Warrant, each Book-Entry Warrant may be transferred only in whole and only to the Depositary, to another nominee of
the Depositary, to a successor depository, or to a nominee of a successor depository; provided further, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend (as in the case, initially, of the Private
Placement Warrants), the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange thereof until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether
the new Warrants must also bear a restrictive legend. 
 5.3. Fractional Warrants. The Warrant Agent shall not be required to effect
any registration of transfer or exchange which shall result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units. 

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

5.5. Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance
with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly
executed on behalf of the Company for such purpose. 
 5.6. Transfer of Warrants. Prior to the Detachment Date, the Public Warrants
may be transferred or exchanged only together with the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore, each transfer of a Unit on the register
relating to such Units shall operate also to transfer the Warrants included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer of Warrants on and after the
Detachment Date. 
 6. Redemption. 

6.1. Redemption of Public Warrants for Cash or Ordinary Shares. Not less than all of the outstanding Public Warrants may be redeemed
for cash, at the option of the Company, at any time during the Exercise Period, at the office of the Warrant Agent, upon notice to the Registered Holders of the Public Warrants, as described in Section 6.2 below, at a
Redemption Price of $0.01 per Public Warrant, provided that (a) the Reference Value (as defined below) equals or exceeds $18.00 per share (subject to adjustment in compliance with Section 4 hereof) and
(b) there is an effective registration statement covering the issuance of the Ordinary Shares issuable upon exercise of the Public Warrants, and a current prospectus relating thereto, available throughout the
30-day Redemption Period (as defined in Section 6.2 below), or the Company has elected to require the exercise of the Public Warrants on a “cashless basis” pursuant to
subsection 3.3.1(b) hereof. 
 6.2. Date Fixed for, and Notice of, Redemption; Redemption Price; Reference Value. In the event
that the Company elects to redeem the Public Warrants pursuant to Section 6.1, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by
first 

  
 11 

 
class mail, postage prepaid, by the Company not less than 30 days prior to the Redemption Date (the “30-day Redemption Period”) to
the Registered Holders of the Public Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or
not the Registered Holder received such notice. As used in this Agreement, (a) “Redemption Price” shall mean the price per Warrant at which any Warrants are redeemed pursuant to Section 6.1 and (b)
“Reference Value” shall mean the last reported sale price of the Ordinary Shares on the trading day prior to the date on which we send the notice of redemption to the Registered Holder. 

6.3. Exercise After Notice of Redemption. The Public Warrants may be exercised for cash (or on a “cashless basis” in
accordance with subsection 3.3.1(b) of this 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.
In the event that the Company determines to require all holders of Warrants to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1, the notice of redemption shall contain the information necessary to calculate
the number of shares of Common Stock to be received upon exercise of the Warrants, including the “Fair Market Value” (as such term is defined in subsection 3.3.1(b) hereof) in such case. On and after the Redemption Date, the record
holder of the Public Warrants shall have no further rights except to receive, upon surrender of the Public Warrants, the Redemption Price. 

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

7.1. No Rights as Shareholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder of
the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of the meetings of shareholders or the election
of directors of the Company or any other matter. 
 7.2. Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost,
stolen, mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new
Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or
destroyed Warrant shall be at any time enforceable by anyone. 
 7.3. Reservation of Ordinary Shares. The Company shall at all times
reserve and keep available a number of its authorized but unissued Ordinary Shares that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement. 

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

7.4.1. Registration of the Ordinary Shares. The Company agrees that as soon as practicable, but in no event later
than twenty (20) Business Days after the closing of its initial Business Combination, it shall use its commercially reasonable efforts to file with the Commission a registration statement for the registration, under the Securities Act, of the
Ordinary Shares issuable upon exercise of the Warrants. The Company shall use its commercially reasonable efforts to cause the same to become effective within sixty (60) Business Days following the closing of its initial Business Combination
and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the Warrants in accordance with the provisions of this Agreement. If any such registration statement
has not been declared effective by the sixtieth (60th) Business Day following the closing of the Business 

  
 12 

 
Combination, holders of the Public Warrants shall have the right, during the period beginning on the sixty-first (61st) Business Day after the closing of the Business Combination and ending upon
such registration statement being declared effective by the Commission, and during any other period when the Company shall fail to have maintained an effective registration statement covering the issuance of the Ordinary Shares issuable upon
exercise of the Public Warrants, to exercise such Public Warrants on a “cashless basis,” by exchanging the Public Warrants (in accordance with Section 3(a)(9) of the Securities Act or another exemption) for that number of Ordinary
Shares equal to the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Public Warrants, multiplied by the excess of the “Fair Market Value” (as defined below) less the Warrant Price by
(y) the Fair Market Value. Solely for purposes of this subsection 7.4.1, “Fair Market Value” shall mean the volume-weighted average price of the Ordinary Shares as reported during the ten
(10) trading day period ending on the trading day prior to the date that notice of exercise is received by the Warrant Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of “cashless
exercise” is received by the Warrant Agent shall be conclusively determined by the Warrant Agent. In connection with the “cashless exercise” of a Public Warrant, the Company shall, upon request, provide the Warrant Agent with an
opinion of counsel for the Company (which shall be an outside law firm with securities law experience) stating that (i) the exercise of the Public Warrants on a “cashless basis” in accordance with this
subsection 7.4.1 is not required to be registered under the Securities Act and (ii) the Ordinary Shares issued upon such exercise shall be freely tradable under United States federal securities laws by anyone who is
not an affiliate (as such term is defined in Rule 144 under the Securities Act) of the Company and, accordingly, shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance
of doubt, unless and until all of the Warrants have been exercised or have expired, the Company shall continue to be obligated to comply with its registration obligations under the first three sentences of this
subsection 7.4.1. 
 7.4.2. Cashless Exercise at Company’s Option. If the Ordinary
Shares are at the time of any exercise of a Public 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, the Company may, at
its option, (i) require holders of Public Warrants who exercise Public Warrants to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act as described in
subsection 7.4.1 and (ii) in the event the Company so elects, the Company shall (x) not be required to file or maintain in effect a registration statement for the registration, under the Securities Act, of the
Ordinary Shares issuable upon exercise of the Warrants, notwithstanding anything in this Agreement to the contrary, and (y) use its commercially reasonable efforts to register or qualify for sale the Ordinary Shares issuable upon exercise of
the Public Warrant under applicable 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 shall from time to time promptly pay all taxes and charges that may be
imposed upon the Company or the Warrant Agent in respect of the issuance or delivery of Ordinary Shares upon the exercise of the Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares.

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

8.2.1. Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign
its duties and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or
otherwise, the Company 

  
 13 

 
shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days after it has been
notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of a Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then the holder of any Warrant may apply to the
Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation or
other entity organized and existing under the laws of the State of New York, in good standing and having its principal office in the United States of America, and authorized under such laws to exercise corporate trust powers and subject to
supervision or examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as
if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or 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 Ordinary Shares not later than the effective date of any such appointment. 

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

8.3. Fees and Expenses of Warrant Agent. 

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

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

8.4. Liability of Warrant Agent. 

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

  
 14 

 8.4.2. Indemnity. The Warrant Agent shall be liable hereunder only
for its own gross negligence, willful misconduct, fraud or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, out-of-pocket costs and reasonable outside counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement, except as a result of the Warrant Agent’s gross negligence,
willful misconduct, fraud or bad faith. 
 8.4.3. Exclusions. The Warrant Agent shall have no responsibility with
respect to the validity of this Agreement or with respect to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by the Company of any covenant or condition
contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any
such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Ordinary Shares to
be issued pursuant to this Agreement or any Warrant and the Amended and Restated Memorandum and Articles of Association of the Company, and upon registration in the Register of Members of the Company, or as to whether any Ordinary Shares shall, when
issued, be valid and fully paid and nonassessable. 
 8.5. Acceptance of Agency. The Warrant Agent hereby accepts the agency
established by this Agreement and agrees to perform the same upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for, and pay to the
Company, all monies received by the Warrant Agent for the purchase of Ordinary Shares through the exercise of the Warrants. 
 8.6.
Waiver. The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account (as
defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the Company and Continental Stock Transfer & Trust Company, as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Warrant Agent hereby waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust Account. 

9. Miscellaneous Provisions. 

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

Anthemis Digital Acquisitions I Corp 

142 Greene Street 
 4th Floor 
 New York, New York 10012 

Attention: Mei Lim 

  
 15 

 with a copy to: 

Latham & Watkins LLP 

885 3rd Avenue 

New York, New York 10022 
 Attn:
Marc Jaffe 
 Ryan deFord 
 and

 Latham & Watkins LLP 

811 Main Street, Suite 3700 

Houston, Texas 77002 
 Attn: Ryan
J. Maierson 
 Any notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the
Company to or on the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage prepaid,
addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows: 
 Continental Stock
Transfer & Trust Company 
 One State Street, 30th Floor 

New York, New York 10004 

Attention: Compliance Department 

9.3. Applicable Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants shall be
governed in all respects by the laws of the State of New York. Subject to applicable law, the Company hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced
in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be the exclusive forum for any such action, proceeding or claim.
The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding the foregoing, 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 person or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have consented to
the forum provisions in this Section 9.3. If any action, the subject matter of which is within the scope of the forum provisions above, is filed in a court other than a court located within the State of New York or the
United States District Court for the Southern District of New York (a “foreign action”) in the name of any warrant holder, such warrant holder shall be deemed to have consented to: (x) the personal jurisdiction of the state and
federal courts located within the State of New York or the United States District Court for the Southern District of New York in connection with any action brought in any such court to enforce the forum provisions (an “enforcement
action”), and (y) having service of process made upon such warrant holder in any such enforcement action by service upon such warrant holder’s counsel in the foreign action as agent for such warrant holder. 

  
 16 

 9.4. Persons Having Rights under this Agreement. Nothing in this Agreement
shall be construed to confer upon, or give to, any person, corporation or other entity other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under or by reason of this Agreement or of any covenant,
condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors and assigns
and of the Registered Holders of the Warrants. 
 9.5. Examination of the Warrant Agreement. A copy of this Agreement shall be
available at all reasonable times at the office of the Warrant Agent in the United States of America, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any such holder to submit such holder’s Warrant for
inspection by the Warrant Agent. 
 9.6. Counterparts. This Agreement may be executed in any number of original or facsimile
counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

9.7. Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not
affect the interpretation thereof. 
 9.8. Amendments. This Agreement may be amended by the parties hereto without the consent of any
Registered Holder (i) for the purpose of curing any ambiguity or to correct any mistake, including to conform the provisions hereof to the description of the terms of the Warrants and this Agreement set forth in the Prospectus, or defective
provision contained herein, (ii) removing or reducing the Company’s ability to redeem the Public Warrants, or (iii) amending the definition of “Ordinary Cash Dividend” as contemplated by and in accordance with the second
sentence of subsection 4.1.2 or adding or changing any provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not
adversely affect the rights of the Registered Holders under this Agreement and (iv) to provide for the delivery of Alternative Issuance pursuant to Section 4.5. All other modifications or amendments, including any
modification or amendment to increase the Warrant Price or shorten the Exercise Period, (a) with respect to the terms of the Public Warrants or any provision of this Agreement with respect to the Public Warrants, shall require the vote or
written consent of the Registered Holders of at least 50% of the then-outstanding Public Warrants and (b) with respect to the terms of the Private Placement Warrants or any provision of this Agreement with respect to the Private Placement
Warrants shall require the vote or written consent of at least, 50% of the then-outstanding Private Placement Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to
Sections 3.1 and 3.2, respectively, without the consent of the Registered Holders. 
 9.9.
Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof.
Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be
possible and be valid and enforceable. 

  
 17 

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

			
	ANTHEMIS DIGITAL ACQUISITIONS I CORP
		
	By: 	 	 
		 	Name:
		 	Title:

  

			
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
		
	By: 	 	 
		 	Name:
		 	Title:

 [Signature Page to Warrant Agreement] 

  
 18 

 EXHIBIT A 

[FACE] 
 Number 

Warrants 
 THIS WARRANT
SHALL BE VOID IF NOT EXERCISED PRIOR TO 
 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR 

IN THE WARRANT AGREEMENT DESCRIBED BELOW 

Anthemis Digital Acquisitions I Corp 

Incorporated Under the Laws of the Cayman Islands 

CUSIP [ • ] 

Warrant Certificate 

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

Each whole Warrant is initially exercisable for one fully paid and nonassessable Ordinary Share. Fractional shares shall not be issued upon
exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in an Ordinary Share, the Company shall, upon exercise, round down to the nearest whole number the number of Ordinary Shares to
be issued to the Warrant holder. The number of Ordinary Shares issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events as set forth in the Warrant Agreement. 

The initial Exercise Price per one Ordinary Share for any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment
upon the occurrence of certain events as set forth in the Warrant Agreement. 
 Subject to the conditions set forth in the Warrant
Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised by the end of such Exercise Period, such Warrants shall become void. The Warrants may be redeemed, subject to certain conditions, as set forth
in the Warrant Agreement. 
 Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof
and such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

  
 A-1 

 This Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as
such term is used in the Warrant Agreement. This Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York. 

 

			
	ANTHEMIS DIGITAL ACQUISITIONS I CORP
		
	By: 	 	 
		 	Name:
		 	Title:

  

			
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
		
	By: 	 	 
		 	Name:
		 	Title:

  
 A-2 

 [Form of Warrant Certificate] 

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

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

Notwithstanding anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise
(i) a registration statement covering the issuance of the Ordinary Shares to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating to the Ordinary Shares is current, except through
“cashless exercise” as provided for in the Warrant Agreement or another exemption from registration is available. 
 The
Warrant Agreement provides that upon the occurrence of certain events the number of Ordinary Shares issuable upon exercise of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant,
the holder thereof would be entitled to receive a fractional interest in an Ordinary Share, the Company shall, upon exercise, round down to the nearest whole number of Ordinary Shares to be issued to the holder of the Warrant. 

Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person
or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or
Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. 
 Upon due presentation for registration of
transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for
this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. 

  
 A-3 

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

Election to Purchase 
 (To Be
Executed Upon Exercise of Warrant) 
 The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant
Certificate, to receive [    ] Ordinary Shares and herewith tenders payment for such Ordinary Shares to the order of Anthemis Digital Acquisitions I Corp (the “Company”) in the amount of
$[    ] in accordance with the terms hereof. The undersigned requests that a certificate for such Ordinary Shares be registered in the name of [ ], whose address is [    ] and that such Ordinary Shares be
delivered to [    ] whose address is [    ]. If said [    ] number of Ordinary Shares is less than all of the Ordinary Shares purchasable hereunder, the undersigned requests that a new
Warrant Certificate representing the remaining balance of such Ordinary Shares be registered in the name of [    ], whose address is [    ] and that such Warrant Certificate be delivered to
[    ], whose address is [    ]. 
 In the event that the Warrant is a Private Placement Warrant
that is to be exercised on a “cashless” basis pursuant to subsection 3.3.1(c) of the Warrant Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance with
subsection 3.3.1(c) of the Warrant Agreement. 
 In the event that the Warrant is to be exercised on a
“cashless” basis pursuant to Section 7.4 of the Warrant Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of
the Warrant Agreement. 
 In the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless
exercise (i) the number of Ordinary Shares that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless exercise and (ii) the holder hereof
shall complete the following: The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive Ordinary Shares. If said number of
shares is less than all of the Ordinary Shares purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such Ordinary Shares be registered in
the name of [    ], whose address is [    ] and that such Warrant Certificate be delivered to [    ], whose address is [    ]. 

[Signature Page Follows] 

  
 A-4 

 Date: __________, 2021 

 

	
	(Signature)
	
	 
	(Address)
	
	
	(Tax Identification Number)

 Signature Guaranteed: 

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

  
 A-5 

 EXHIBIT B 

LEGEND 
 THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND
ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT (THE “LETTER AGREEMENT”) BY AND BETWEEN
ANTHEMIS DIGITAL ACQUISITIONS I CORP (THE “COMPANY”), AND EACH OF ANTHEMIS DIGITAL ACQUISITIONS I SPONSOR LP, AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR
TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DESCRIBED IN
SECTION 7(D) OF THE LETTER AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS. 
 SECURITIES EVIDENCED BY THIS
CERTIFICATE AND CLASS A ORDINARY SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION AND SHAREHOLDER RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY. 

NO. [    ] WARRANT 

  
 B-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00334-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00334-of-00352.parquet"}]]