Document:

Exhibit
4.2

 

DESCRIPTION
OF SECURITIES

 

As
of December 31, 2021, New Vista Acquisition Corp (“we,” “our,” “us” or the “company”)
had the following three classes of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”): (i) its units, each consisting of one Class A ordinary share and one-third of one redeemable warrant, (ii) Class A ordinary
shares, par value $0.0001 per share, and (iii) redeemable warrants, each whole warrant exercisable for one Class A ordinary share at
an exercise price of $11.50. In addition, this Description of Securities also references the company’s Class B ordinary shares,
par value $0.0001 per share (the “Class B ordinary shares” or “founder shares”), which are not registered pursuant
to Section 12 of the Exchange Act but are convertible into Class A ordinary shares. The description of the Class B ordinary shares is
included to assist in the description of the Class A ordinary shares. Unless the context otherwise requires, references to our “sponsor”
refer to New Vista Acquisition Sponsor LLC, a Delaware limited liability company and references to our “initial shareholders”
refer to our sponsor and the other holders of our founder shares prior to our initial public offering (our “IPO”).

 

We
are a Cayman Islands exempted company and our affairs are governed by our amended and restated memorandum and articles of association,
Companies Act of the Cayman Islands (the “Companies Act”) and common law of the Cayman Islands. Pursuant to our amended and
restated memorandum and articles of association, we are authorized to issue 500,000,000 Class A ordinary shares, $0.0001 par value each,
50,000,000 Class B ordinary shares, $0.0001 par value each, and 5,000,000 undesignated preference shares, $0.0001 par value each. The
following description summarizes the material terms of our shares as set out more particularly in our amended and restated memorandum
and articles of association. Because it is only a summary, it may not contain all the information that is important to you.

 

Units

 

Each
unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to
purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. Pursuant to the warrant agreement that governs
the warrants (“the warrant agreement”), a warrant holder may exercise its warrants only for a whole number of the company’s
Class A ordinary shares. This means only a whole warrant may be exercised at any given time by a warrant holder.

 

Holders
have the option to continue to hold units or separate their units into the component securities. Holders will need to have their brokers
contact our transfer agent in order to separate the units into Class A ordinary shares and warrants. Additionally, the units will automatically
separate into their component parts and will not be traded after completion of our initial business combination. No fractional warrants
will be issued upon separation of the units and only whole warrants will trade.

 

Ordinary
Shares

 

Class
A ordinary shareholders and Class B ordinary shareholders of record are entitled to one vote for each share held on all matters to be
voted on by shareholders and vote together as a single class, except as required by law; provided, that, prior to our initial business
combination, holders of our Class B ordinary shares will have the right to appoint all of our directors and remove members of the board
of directors for any reason, and holders of our Class A ordinary shares will not be entitled to vote on the appointment of directors
during such time. These provisions of our amended and restated memorandum and articles of association may only be amended by a special
resolution passed by a majority of at least 90% of our ordinary shares attending and voting in a general meeting. Unless specified in
the Companies Act, our amended and restated memorandum and articles of association or applicable stock exchange rules, the affirmative
vote of a majority of our ordinary shares that are voted is required to approve any such matter voted on by our shareholders (other than
the appointment or removal of directors prior to our initial business combination), and, prior to our initial business combination, the
affirmative vote of a majority of our founder shares is required to approve the appointment or removal of directors. Approval of certain
actions will require a special resolution under Cayman Islands law and pursuant to our amended and restated memorandum and articles of
association; such actions include amending our amended and restated memorandum and articles of association and approving a statutory
merger or consolidation with another company. Directors are appointed for a term of two years. There is no cumulative voting with respect
to the appointment of directors, with the result that the holders of more than 50% of the founder shares voted for the appointment of
directors can appoint all of the directors prior to our initial business combination. Our shareholders are entitled to receive ratable
dividends when, as and if declared by the board of directors out of funds legally available therefor.

 

     

     

    

 

Because
our amended and restated memorandum and articles of association authorize the issuance of up to 500,000,000 Class A ordinary shares,
if we were to enter into a business combination, we may (depending on the terms of such a business combination) be required to increase
the number of Class A ordinary shares which we are authorized to issue at the same time as our shareholders vote on the business combination
to the extent we seek shareholder approval in connection with our initial business combination.

 

In
accordance with Nasdaq Stock Market (“Nasdaq”) corporate governance requirements, we are not required to hold an annual general
meeting until one year after our first fiscal year end following our listing on Nasdaq. There is no requirement under the Companies Act
for us to hold annual or extraordinary general meetings to appoint directors. We may not hold an annual general meeting prior to the
consummation of our initial business combination.

 

We
will provide our public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our
initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account
calculated as of two business days prior to the consummation of our initial business combination, including interest (which interest
shall be net of taxes payable), divided by the number of then issued and outstanding public shares, subject to the limitations described
herein. The per-share amount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting
commissions we will pay to the underwriters. The redemption rights will include the requirement that a beneficial owner must identify
itself in order to validly redeem its shares. Our initial shareholders, directors and officers have entered into a letter agreement with
us, pursuant to which they have agreed to waive their redemption rights with respect to any founder shares and public shares held by
them in connection with the completion of our initial business combination or certain amendments to our amended and restated memorandum
and articles of association. Permitted transferees of our initial shareholders, directors or officers will be subject to the same obligations.

 

Unlike
many blank check companies that hold shareholder votes and conduct proxy solicitations in conjunction with their initial business combinations
and provide for related redemptions of public shares for cash upon completion of such initial business combinations even when a vote
is not required by applicable law or stock exchange listing requirements, if a shareholder vote is not required by applicable law or
stock exchange listing requirements and we do not decide to hold a shareholder vote for business or other reasons, we will, pursuant
to our amended and restated memorandum and articles of association, conduct the redemptions pursuant to the tender offer rules of the
Securities and Exchange Commission (the “SEC”), and file tender offer documents with the SEC prior to completing our initial
business combination. Our amended and restated memorandum and articles of association require these tender offer documents to contain
substantially the same financial and other information about the initial business combination and the redemption rights as is required
under the SEC’s proxy rules. If, however, a shareholder approval of the transaction is required by applicable law or stock exchange
listing requirements, or we decide to obtain shareholder approval for business or other reasons, we will, like many blank check companies,
offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules.
If we seek shareholder approval, we will complete our initial business combination only if we receive the approval of an ordinary resolution
under Cayman Islands law, which requires the affirmative vote of holders of a majority of ordinary shares who attend and vote at a general
meeting of the company. However, the participation of our sponsor, directors, officers, advisors or any of their affiliates in privately-negotiated
transactions, if any, could result in the approval of our initial business combination even if a majority of our public shareholders
vote, or indicate their intention to vote, against such business combination. For purposes of seeking approval of the majority of our
issued and outstanding ordinary shares, non-votes will have no effect on the approval of our initial business combination once a quorum
is obtained. These quorum and voting thresholds, and the voting agreements of our initial shareholders, may make it more likely that
we will consummate our initial business combination.

 

If
we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business
combination pursuant to the tender offer rules, our amended and restated memorandum and articles of association provide that a public
shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as
a “group” (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to
more than an aggregate of 15% of the ordinary shares sold in our IPO, which we refer to as the “Excess Shares,” without our
prior consent. However, we would not be restricting our shareholders’ ability to vote all of their shares (including Excess Shares)
for or against our initial business combination. Our shareholders’ inability to redeem the Excess Shares will reduce their influence
over our ability to complete our initial business combination, and such shareholders could suffer a material loss in their investment
if they sell such Excess Shares on the open market. Additionally, such shareholders will not receive redemption distributions with respect
to the Excess Shares if we complete the business combination. As a result, such shareholders will continue to hold that number of shares
exceeding 15% and, in order to dispose such shares would be required to sell their shares in open market transactions, potentially at
a loss.

 

    2

     

    

 

If
we seek shareholder approval in connection with our initial business combination, our initial shareholders have agreed (and their permitted
transferees will agree), pursuant to the terms of a letter agreement entered into with us, to vote their founder shares and any public
shares held by them in favor of our initial business combination. Our directors and officers have also entered into the letter agreement,
imposing similar obligations on them with respect to public shares acquired by them, if any. Additionally, each public shareholder may
elect to redeem its public shares without voting and, if they do vote, irrespective of whether they vote for or against the proposed
transaction.

 

Pursuant
to our amended and restated memorandum and articles of association, if we have not completed our initial business combination within
24 months from the closing of our IPO we will (1) cease all operations except for the purpose of winding up, (2) as promptly as reasonably
possible but not more than 10 business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the
aggregate amount then on deposit in the trust account, including interest (less up to $100,000 of interest to pay dissolution expenses
and which interest shall be net of taxes payable), divided by the number of then issued and outstanding public shares, which redemption
will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidating distributions,
if any), and (3) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders
and our board of directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims
of creditors and the requirements of other applicable law. Our initial shareholders have entered into a letter agreement with us, pursuant
to which they have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares
if we fail to complete our initial business combination within 24 months from the closing of our IPO. However, if our initial shareholders,
directors acquire public shares, they will be entitled to liquidating distributions from the trust account with respect to such public
shares if we fail to complete our initial business combination within the prescribed time period.

 

In
the event of a liquidation, dissolution or winding up of the company after a business combination, our shareholders at such time will
be entitled to share ratably in all assets remaining available for distribution to them after payment of liabilities and after provision
is made for each class of shares, if any, having preference over the ordinary shares. Our shareholders have no preemptive or other subscription
rights. There are no sinking fund provisions applicable to the ordinary shares, except that we will provide our shareholders with the
opportunity to redeem their public shares for cash equal to their pro rata share of the aggregate amount then on deposit in the trust
account, including interest (which interest shall be net of taxes payable), upon the completion of our initial business combination,
subject to the limitations described herein.

 

Founder
Shares

 

The
founder shares are designated as Class B ordinary shares and are identical to the Class A ordinary shares included in the units sold
in our IPO, and holders of founder shares have the same shareholder rights as public shareholders, except that: (1) prior to our initial
business combination, only holders of the founder shares have the right to vote on the appointment of directors and holders of a majority
of our founder shares may remove a member of the board of directors for any reason; (2) the founder shares are subject to certain transfer
restrictions contained in a letter agreement that our initial shareholders, directors and officers have entered into with us; (3) pursuant
to such letter agreement, our initial shareholders, directors and officers have agreed to waive: (i) their redemption rights with respect
to any founder shares and public shares held by them, as applicable, in connection with the completion of our initial business combination;
(ii) their redemption rights with respect to any founder shares and public shares held by them in connection with a shareholder vote
to amend our amended and restated memorandum and articles of association (A) to modify the substance or timing of our obligation to allow
redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial
business combination within 24 months from the closing of our IPO or (B) with respect to any other provision relating to shareholders’
rights or pre-initial business combination activity; and (iii) their rights to liquidating distributions from the trust account with
respect to any founder shares they hold if we fail to complete our initial business combination within 24 months from the closing of
our IPO (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold
if we fail to complete our initial business combination within the prescribed time frame); (4) the founder shares will automatically
convert into our Class A ordinary shares at the time of our initial business combination, or earlier at the option of the holder, on
a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, as described in more detail below; and (5) the founder
shares are entitled to registration rights. If we submit our initial business combination to our public shareholders for a vote, our
initial shareholders have agreed (and their permitted transferees will agree), pursuant to the terms of a letter agreement entered into
with us, to vote their founder shares and any public shares held by them purchased during or after our IPO in favor of our initial business
combination.

 

    3

     

    

 

The
Class B ordinary shares will automatically convert into Class A ordinary shares at the time of our initial business combination, or earlier
at the option of the holder, on a one-for-one basis, subject to adjustment for share sub-divisions, share dividends, rights issuances,
reorganizations, recapitalizations and other similar transactions, and subject to further adjustment as provided herein. In the case
that additional Class A ordinary shares, or equity-linked securities, are issued or deemed issued in excess of the amounts issued in
our IPO and related to the closing of our initial business combination, the ratio at which the Class B ordinary shares will convert into
Class A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree
to waive such anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares
issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of all
ordinary shares issued and outstanding upon the completion of our IPO plus all Class A ordinary shares and equity-linked securities issued
or deemed issued in connection with our initial business combination, excluding any shares or equity-linked securities issued, or to
be issued, to any seller in our initial business combination. The term “equity-linked securities” refers to any debt or equity
securities that are convertible, exercisable or exchangeable for our Class A ordinary shares issued in a financing transaction in connection
with our initial business combination, including but not limited to a private placement of equity or debt

 

With
certain limited exceptions, pursuant to a letter agreement entered into with us, our initial shareholders, directors and officers have
agreed not to transfer, assign or sell and of their founder shares (except to our directors and officers and other persons or entities
affiliated with our sponsor, each of whom will be subject to the same transfer restrictions) until the earlier of: (A) one year after
the completion of our initial business combination; and (B) subsequent to our initial business combination (x) if the last reported sale
price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share dividends, rights
issuances, reorganizations, recapitalizations and other similar transactions) for any 20 trading days within any 30-trading day period
commencing at least 120 days after our initial business combination or (y) the date on which we complete a liquidation, merger, share
exchange, reorganization or other similar transaction that results in all of our public shareholders having the right to exchange their
ordinary shares for cash, securities or other property.

 

Register
of Members

 

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

 

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

 

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

 

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

 

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

 

Redeemable
Warrants

 

Public
Shareholders’ Warrants

 

Each
whole warrant entitles the registered holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment
as discussed below, at any time commencing on the later of 30 days after the completion of our initial business combination and 12 months
from the closing of our IPO, except as described below. Pursuant to the warrant agreement, a warrant holder may exercise its warrants
only for a whole number of Class A ordinary shares. This means only a whole warrant may be exercised at a given time by a warrant holder.
No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The warrants will expire five
years after the completion of our initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

 

    4

     

    

 

We
will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle
such warrant exercise unless a registration statement under the Securities Act of 1933, as amended (the “Securities Act”)
covering the issuance of the Class A ordinary shares issuable upon exercise of the warrants is then effective and a current prospectus
relating thereto is current, subject to our satisfying our obligations described below with respect to registration, or a valid exemption
from registration is available, including in connection with a cashless exercise permitted as a result of a notice of redemption described
below under “Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00” and “Redemption
of warrants when the price per Class A ordinary share equals or exceeds $18.00.” No warrant will be exercisable for cash or on
a cashless basis, and we will not be obligated to issue any shares to holders seeking to exercise their warrants, unless the issuance
of the shares upon such exercise is registered or qualified under the securities laws of the state of the exercising holder, or an exemption
is available. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a warrant,
the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In
the event that a registration statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant
will have paid the full purchase price for the unit solely for the Class A ordinary share underlying such unit.

 

We
have agreed that as soon as practicable, but in no event later than 20 business days after the closing of our initial business combination,
we will use our commercially reasonable efforts to file with the SEC a registration statement covering the issuance, under the Securities
Act, of the Class A ordinary shares issuable upon exercise of the warrants, and we will use our commercially reasonable efforts to cause
the same to become effective within 60 business days after the closing of our initial business combination and to maintain the effectiveness
of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the warrants in accordance
with the provisions of the warrant agreement. Notwithstanding the above, if our Class A ordinary shares are, at the time of any exercise
of a warrant, not listed on a national securities exchange such that they satisfy the definition of a “covered security”
under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of public warrants who exercise their warrants to
do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event we so elect, we will
not be required to file or maintain in effect a registration statement, but will use our commercially reasonable efforts to register
or qualify the shares under applicable blue sky laws to the extent an exemption is not available. If a registration statement covering
the Class A ordinary shares issuable upon exercise of the warrants is not effective by the 60th business day after the closing of the
initial business combination, warrant holders may, until such time as there is an effective registration statement and during any period
when we will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance
with Section 3(a)(9) of the Securities Act or another exemption, but we will use our commercially reasonable efforts to register or qualify
the shares under applicable blue sky laws to the extent an exemption is not available. In the case of a cashless exercise, each holder
would pay the exercise price by surrendering the warrants for that number of Class A ordinary shares equal to the lesser of (A) the quotient
obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the
” fair market value” (defined below) less the exercise price of the warrants by (y) the fair market value and (B) the product
of 0.361 and the number of warrants surrendered. The ” fair market value” as used in the preceding sentence shall mean the
volume weighted average price of the Class A ordinary shares for the 10 trading days ending on the trading day prior to the date on which
the notice of exercise is received by the warrant agent.

 

Redemption
of warrants when the price per Class A ordinary share equals or exceeds $18.00. Once the warrants become exercisable, we may redeem
the outstanding warrants (except as described herein with respect to the private placement warrants):

 

		●	in
                                            whole and not in part;

 

		●	at
                                            a price of $0.01 per warrant;

 

		●	upon
                                            not less than 30 days’ prior written notice of redemption to each warrant holder; and

 

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

 

We
will not redeem the warrants as described above unless a registration statement under the Securities Act covering the issuance of the
Class A ordinary shares issuable upon exercise of the warrants is then effective and a current prospectus relating to those Class A ordinary
shares is available throughout the 30-day redemption period. If and when the warrants become redeemable by us, we may exercise our redemption
right even if we are unable to register or qualify the underlying securities for sale under all applicable state securities laws. As
a result, we may redeem warrants even if the holders are otherwise unable to exercise their warrants.

 

    5

     

    

 

We
have established the $18.00 per share (as adjusted) redemption criterion discussed above to prevent a redemption call unless there is
at the time of the call a significant premium to the warrant exercise price. If the foregoing conditions are satisfied and we issue a
notice of redemption of the warrants, each warrant holder will be entitled to exercise his, her or its warrant prior to the scheduled
redemption date. However, the price of the Class A ordinary shares may fall below the $18.00 redemption trigger price (as adjusted for
adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described under the heading “Anti-dilution
Adjustments”) as well as the $11.50 warrant exercise price after the redemption notice is issued.

 

Redemption
of warrants when the price per Class A ordinary share equals or exceeds $10.00. Once the warrants become exercisable, we may redeem
the outstanding warrants:

 

		●	in
                                            whole and not in part;

 

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

 

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

 

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

 

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

 

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

 

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

 

    6

     

    

 

	Redemption
    Date (period to expiration of warrants)	 	Fair
    Market Value of Class A Ordinary Shares	 
	 	 	≤10.00	 	 	11.00	 	 	12.00	 	 	13.00	 	 	14.00	 	 	15.00	 	 	16.00	 	 	17.00	 	 	≥18.00	 
	60
    months	 	 	0.261	 	 	 	0.281	 	 	 	0.297	 	 	 	0.311	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.361	 
	57
    months	 	 	0.257	 	 	 	0.277	 	 	 	0.294	 	 	 	0.310	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.361	 
	54
    months	 	 	0.252	 	 	 	0.272	 	 	 	0.291	 	 	 	0.307	 	 	 	0.322	 	 	 	0.335	 	 	 	0.347	 	 	 	0.357	 	 	 	0.361	 
	51
    months	 	 	0.246	 	 	 	0.268	 	 	 	0.287	 	 	 	0.304	 	 	 	0.320	 	 	 	0.333	 	 	 	0.346	 	 	 	0.357	 	 	 	0.361	 
	48
    months	 	 	0.241	 	 	 	0.263	 	 	 	0.283	 	 	 	0.301	 	 	 	0.317	 	 	 	0.332	 	 	 	0.344	 	 	 	0.356	 	 	 	0.361	 
	45
    months	 	 	0.235	 	 	 	0.258	 	 	 	0.279	 	 	 	0.298	 	 	 	0.315	 	 	 	0.330	 	 	 	0.343	 	 	 	0.356	 	 	 	0.361	 
	42
    months	 	 	0.228	 	 	 	0.252	 	 	 	0.274	 	 	 	0.294	 	 	 	0.312	 	 	 	0.328	 	 	 	0.342	 	 	 	0.355	 	 	 	0.361	 
	39
    months	 	 	0.221	 	 	 	0.246	 	 	 	0.269	 	 	 	0.290	 	 	 	0.309	 	 	 	0.325	 	 	 	0.340	 	 	 	0.354	 	 	 	0.361	 
	36
    months	 	 	0.213	 	 	 	0.239	 	 	 	0.263	 	 	 	0.285	 	 	 	0.305	 	 	 	0.323	 	 	 	0.339	 	 	 	0.353	 	 	 	0.361	 
	33
    months	 	 	0.205	 	 	 	0.232	 	 	 	0.257	 	 	 	0.280	 	 	 	0.301	 	 	 	0.320	 	 	 	0.337	 	 	 	0.352	 	 	 	0.361	 
	30
    months	 	 	0.196	 	 	 	0.224	 	 	 	0.250	 	 	 	0.274	 	 	 	0.297	 	 	 	0.316	 	 	 	0.335	 	 	 	0.351	 	 	 	0.361	 
	27
    months	 	 	0.185	 	 	 	0.214	 	 	 	0.242	 	 	 	0.268	 	 	 	0.291	 	 	 	0.313	 	 	 	0.332	 	 	 	0.350	 	 	 	0.361	 
	24
    months	 	 	0.173	 	 	 	0.204	 	 	 	0.233	 	 	 	0.260	 	 	 	0.285	 	 	 	0.308	 	 	 	0.329	 	 	 	0.348	 	 	 	0.361	 
	21
    months	 	 	0.161	 	 	 	0.193	 	 	 	0.223	 	 	 	0.252	 	 	 	0.279	 	 	 	0.304	 	 	 	0.326	 	 	 	0.347	 	 	 	0.361	 
	18
    months	 	 	0.146	 	 	 	0.179	 	 	 	0.211	 	 	 	0.242	 	 	 	0.271	 	 	 	0.298	 	 	 	0.322	 	 	 	0.345	 	 	 	0.361	 
	15
    months	 	 	0.130	 	 	 	0.164	 	 	 	0.197	 	 	 	0.230	 	 	 	0.262	 	 	 	0.291	 	 	 	0.317	 	 	 	0.342	 	 	 	0.361	 
	12
    months	 	 	0.111	 	 	 	0.146	 	 	 	0.181	 	 	 	0.216	 	 	 	0.250	 	 	 	0.282	 	 	 	0.312	 	 	 	0.339	 	 	 	0.361	 
	9
    months	 	 	0.090	 	 	 	0.125	 	 	 	0.162	 	 	 	0.199	 	 	 	0.237	 	 	 	0.272	 	 	 	0.305	 	 	 	0.336	 	 	 	0.361	 
	6
    months	 	 	0.065	 	 	 	0.099	 	 	 	0.137	 	 	 	0.178	 	 	 	0.219	 	 	 	0.259	 	 	 	0.296	 	 	 	0.331	 	 	 	0.361	 
	3
    months	 	 	0.034	 	 	 	0.065	 	 	 	0.104	 	 	 	0.150	 	 	 	0.197	 	 	 	0.243	 	 	 	0.286	 	 	 	0.326	 	 	 	0.361	 
	0
    months	 	 	—	 	 	 	—	 	 	 	0.042	 	 	 	0.115	 	 	 	0.179	 	 	 	0.233	 	 	 	0.281	 	 	 	0.323	 	 	 	0.361	 

 

The
exact fair market value and redemption date may not be set forth in the table above, in which case, if the fair market value is between
two values in the table or the redemption date is between two redemption dates in the table, the number of Class A ordinary shares to
be issued for each warrant exercised will be determined by a straight-line interpolation between the number of shares set forth for the
higher and lower fair market values and the earlier and later redemption dates, as applicable, based on a 365 or 366-day year, as applicable.
For example, if the volume weighted average price of our Class A ordinary shares as reported during the 10 trading days immediately following
the date on which the notice of redemption is sent to the holders of the warrants is $11.00 per share, and at such time there are 57
months until the expiration of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants
for 0.277 Class A ordinary shares for each whole warrant. For an example where the exact fair market value and redemption date are not
as set forth in the table above, if the volume weighted average price of our Class A ordinary shares as reported during the 10 trading
days immediately following the date on which the notice of redemption is sent to the holders of the warrants is $13.50 per share, and
at such time there are 38 months until the expiration of the warrants, holders may choose to, in connection with this redemption feature,
exercise their warrants for 0.298 Class A ordinary shares for each whole warrant. In no event will the warrants be exercisable on a cashless
basis in connection with this redemption feature for more than 0.361 Class A ordinary shares per warrant (subject to adjustment). Finally,
as reflected in the table above, if the warrants are out of the money and about to expire, they cannot be exercised on a cashless basis
in connection with a redemption by us pursuant to this redemption feature, since they will not be exercisable for any Class A ordinary
shares.

 

This
redemption feature differs from the warrant redemption features used in some other blank check offerings, which only provide for a redemption
of warrants for cash (other than the private placement warrants) when the trading price for the Class A ordinary shares exceeds $18.00
per share for a specified period of time. This redemption feature is structured to allow for all of the outstanding warrants to be redeemed
when the Class A ordinary shares are trading at or above $10.00 per share, which may be at a time when the trading price of our Class
A ordinary shares is below the exercise price of the warrants. We have established this redemption feature to provide us with the flexibility
to redeem the warrants without the warrants having to reach the $18.00 per share threshold set forth above under “Redemption of
warrants when the price per Class A ordinary share equals or exceeds $18.00.” Holders choosing to exercise their warrants in connection
with a redemption pursuant to this feature will, in effect, receive a number of shares for their warrants based on an option pricing
model with a fixed volatility input as of the date of the prospectus relating to our IPO. This redemption right provides us with an additional
mechanism by which to redeem all of the outstanding warrants, and therefore have certainty as to our capital structure as the warrants
would no longer be outstanding and would have been exercised or redeemed. We will be required to pay the applicable redemption price
to warrant holders if we choose to exercise this redemption right and it will allow us to quickly proceed with a redemption of the warrants
if we determine it is in our best interest to do so. As such, we would redeem the warrants in this manner when we believe it is in our
best interest to update our capital structure to remove the warrants and pay the redemption price to the warrant holders.

 

As
stated above, we can redeem the warrants when the Class A ordinary shares are trading at a price starting at $10.00, which is below the
exercise price of $11.50, because it will provide certainty with respect to our capital structure and cash position while providing warrant
holders with the opportunity to exercise their warrants on a cashless basis for the applicable number of shares. If we choose to redeem
the warrants when the Class A ordinary shares are trading at a price below the exercise price of the warrants, this could result in the
warrant holders receiving fewer Class A ordinary shares than they would have received if they had chosen to exercise their warrants for
Class A ordinary shares if and when such Class A ordinary shares were trading at a price higher than the exercise price of $11.50.

 

    7

     

    

 

No
fractional Class A ordinary shares will be issued upon exercise. If, upon exercise, a holder would be entitled to receive a fractional
interest in a share, we will round down to the nearest whole number of the number of Class A ordinary shares to be issued to the holder.
If, at the time of redemption, the warrants are exercisable for a security other than the Class A ordinary shares pursuant to the warrant
agreement (for instance, if we are not the surviving company in our initial business combination), the warrants may be exercised for
such security. At such time as the warrants become exercisable for a security other than the Class A ordinary shares, the Company (or
surviving company) will use its commercially reasonable efforts to register under the Securities Act the security issuable upon the exercise
of the warrants.

 

Redemption
Procedures and Cashless Exercise. If we call the warrants for redemption as described under “Redemption of warrants when the
price per Class A ordinary share equals or exceeds $18.00,” our management will have the option to require any holder that wishes
to exercise his, her or its warrant to do so on a “cashless basis” beginning three business days after the notice of redemption
is sent to the holders of warrants. In determining whether to require all holders to exercise their warrants on a “cashless basis,”
our management will consider, among other factors, our cash position, the number of warrants that are outstanding and the dilutive effect
on our shareholders of issuing the maximum number of Class A ordinary shares issuable upon the exercise of our warrants. If our management
takes advantage of this option, all holders of warrants would pay the exercise price by surrendering their warrants for that number of
Class A ordinary shares equal to the lesser of (A) the quotient obtained by dividing (x) the product of the number of Class A ordinary
shares underlying the warrants, multiplied by the excess of the “fair market value” (defined below) less the exercise price
of the warrants by (y) the fair market value and (B) 0.361. The “fair market value” will mean the average closing price of
the Class A ordinary shares for the 10 trading days immediately following the date on which the notice of redemption is sent to the holders
of warrants If our management takes advantage of this option, the notice of redemption will contain the information necessary to calculate
the number of Class A ordinary shares to be received upon exercise of the warrants, including the “fair market value” in
such case. Requiring a cashless exercise in this manner will reduce the number of shares to be issued and thereby lessen the dilutive
effect of a warrant redemption. We believe this feature is an attractive option to us if we do not need the cash from the exercise of
the warrants after our initial business combination. If we call our warrants for redemption and our management team does not take advantage
of this option, our sponsor and its permitted transferees would still be entitled to exercise their private placement warrants for cash
or on a cashless basis using the same formula described above that other warrant holders would have been required to use had all warrant
holders been required to exercise their warrants on a cashless basis, as described in more detail below.

 

A
holder of a warrant may notify us in writing in the event it elects to be subject to a requirement that such holder will not have the
right to exercise such warrant, to the extent that after giving effect to such exercise, such person (together with such person’s
affiliates), to the warrant agent’s actual knowledge, would beneficially own in excess of 4.9% or 9.8% (as specified by the holder)
of the Class A ordinary shares issued and outstanding immediately after giving effect to such exercise.

 

Anti-dilution
Adjustments. If the number of issued and outstanding Class A ordinary shares is increased by a capitalization or share dividend payable
in Class A ordinary shares, or by a sub-division of Class A ordinary shares or other similar event, then, on the effective date of such
capitalization or share dividend, sub-division or similar event, the number of Class A ordinary shares issuable on exercise of each warrant
will be increased in proportion to such increase in the issued and outstanding Class A ordinary shares. A rights offering made to all
or substantially all holders of Class A ordinary shares entitling holders to purchase Class A ordinary shares at a price less than the
“historical fair market value” (as defined below) will be deemed a share dividend of a number of Class A ordinary shares
equal to the product of (1) the number of Class A ordinary shares actually sold in such rights offering (or issuable under any other
equity securities sold in such rights offering that are convertible into or exercisable for Class A ordinary shares) and (2) one minus
the quotient of (x) the price per Class A ordinary share paid in such rights offering and (y) the historical fair market value. For these
purposes, (1) if the rights offering is for securities convertible into or exercisable for Class A ordinary shares, in determining the
price payable for Class A ordinary shares, there will be taken into account any consideration received for such rights, as well as any
additional amount payable upon exercise or conversion and (2) “historical fair market value” means the volume weighted average
price of Class A ordinary shares during the 10-trading day period ending on the trading day prior to the first date on which the Class
A ordinary shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights.

 

In
addition, if we, at any time while the warrants are outstanding and unexpired, pay to all or substantially all of the holders of Class
A ordinary shares a dividend or make a distribution in cash, securities or other assets to the holders of Class A ordinary shares on
account of such Class A ordinary shares (or other securities into which the warrants are convertible), other than (a) as described above,
(b) any cash dividends or cash distributions which, when combined on a per share basis with all other cash dividends and cash distributions
paid on the Class A ordinary shares during the 365-day period ending on the date of declaration of such dividend or distribution does
not exceed $0.50 (as adjusted for share sub-divisions, share dividends, rights issuances, consolidations, reorganizations, recapitalizations
and other similar transactions) but only with respect to the amount of the aggregate cash dividends or cash distributions equal to or
less than $0.50 per share, (c) to satisfy the redemption rights of the holders of Class A ordinary shares in connection with a proposed
initial business combination, (d) to satisfy the redemption rights of the holders of Class A ordinary shares in connection with a shareholder
vote to amend our amended and restated memorandum and articles of association (A) to modify the substance or timing of our obligation
to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete
our initial business combination within 24 months from the closing of our IPO or (B) with respect to any other provision relating to
shareholders’ rights or pre-initial business combination activity, or (e) in connection with the redemption of our public shares
upon our failure to complete our initial business combination, then the warrant exercise price will be decreased, effective immediately
after the effective date of such event, by the amount of cash and/or the fair market value of any securities or other assets paid on
each Class A ordinary share in respect of such event.

 

    8

     

    

 

If
the number of issued and outstanding Class A ordinary shares is decreased by a consolidation, combination or reclassification of Class
A ordinary shares or other similar event, then, on the effective date of such consolidation, combination, reclassification or similar
event, the number of Class A ordinary shares issuable on exercise of each warrant will be decreased in proportion to such decrease in
issued and outstanding Class A ordinary shares.

 

Whenever
the number of Class A ordinary shares purchasable upon the exercise of the warrants is adjusted, as described above, the warrant exercise
price will be adjusted by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator
of which will be the number of Class A ordinary shares purchasable upon the exercise of the warrants immediately prior to such adjustment
and (y) the denominator of which will be the number of Class A ordinary shares so purchasable immediately thereafter.

 

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

 

In
case of any reclassification or reorganization of the issued and outstanding Class A ordinary shares (other than those described above
or that solely affects the par value of such Class A ordinary shares), or in the case of any merger or consolidation of us with or into
another corporation (other than a merger or consolidation in which we are the continuing corporation and that does not result in any
reclassification or reorganization of our issued and outstanding Class A ordinary shares), or in the case of any sale or conveyance to
another corporation or entity of the assets or other property of us as an entirety or substantially as an entirety in connection with
which we are dissolved, the holders of the warrants will thereafter have the right to purchase and receive, upon the basis and upon the
terms and conditions specified in the warrants and in lieu of our Class A ordinary shares immediately theretofore purchasable and receivable
upon the exercise of the rights represented thereby, the kind and amount of shares, stock or other equity securities or property (including
cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or
transfer, that the holder of the warrants would have received if such holder had exercised their warrants immediately prior to such event.
However, if such holders were entitled to exercise a right of election as to the kind or amount of securities, cash or other assets receivable
upon such merger or consolidation, then the kind and amount of securities, cash or other assets for which each warrant will become exercisable
will be deemed to be the weighted average of the kind and amount received per share by such holders in such merger or consolidation that
affirmatively make such election, and if a tender, exchange or redemption offer has been made to and accepted by such holders (other
than a tender, exchange or redemption offer made by the company in connection with redemption rights held by shareholders of the company
as provided for in the company’s amended and restated memorandum and articles of association or as a result of the redemption of
Class A ordinary shares by the company if a proposed initial business combination is presented to the shareholders of the company for
approval) under circumstances in which, upon completion of such tender or exchange offer, the maker thereof, together with members of
any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) of which such maker is a part, and together with any affiliate
or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act) and any members of any such group of which any such
affiliate or associate is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act) more than 50% of the issued
and outstanding Class A ordinary shares, the holder of a warrant will be entitled to receive the highest amount of cash, securities or
other property to which such holder would actually have been entitled as a shareholder if such warrant holder had exercised the warrant
prior to the expiration of such tender or exchange offer, accepted such offer and all of the Class A ordinary shares held by such holder
had been purchased pursuant to such tender or exchange offer, subject to adjustment (from and after the consummation of such tender or
exchange offer) as nearly equivalent as possible to the adjustments provided for in the warrant agreement. Additionally, if less than
70% of the consideration receivable by the holders of Class A ordinary shares in such a transaction is payable in the form of ordinary
shares in the successor entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter
market, or is to be so listed for trading or quoted immediately following such event, and if the registered holder of the warrant properly
exercises the warrant within 30 days following public disclosure of such transaction, the warrant exercise price will be reduced as specified
in the warrant agreement based on the per share consideration minus Black-Scholes Warrant Value (as defined in the warrant agreement)
of the warrant.

 

    9

     

    

 

The
warrants are issued in registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent,
and us. The warrant agreement provides that (a) the terms of the warrants may be amended without the consent of any holder for the purpose
of (i) curing any ambiguity or correct any mistake, including to conform the provisions of the warrant agreement to the description of
the terms of the warrants and the warrant agreement, or defective provision or (ii) adding or changing any provisions with respect to
matters or questions arising under the warrant agreement as the parties to the warrant agreement may deem necessary or desirable and
that the parties deem to not adversely affect the rights of the registered holders of the warrants and (b) all other modifications or
amendments require the vote or written consent of at least 50% of the then outstanding public warrants and, solely with respect to any
amendment to the terms of the private placement warrants or any provision of the warrant agreement with respect to the private placement
warrants, at least 50% of the then outstanding private placement warrants. You should review a copy of the warrant agreement for a complete
description of the terms and conditions applicable to the warrants.

 

The
warrant holders do not have the rights or privileges of holders of ordinary shares and any voting rights until they exercise their warrants
and receive Class A ordinary shares. After the issuance of Class A ordinary shares upon exercise of the warrants, each holder will be
entitled to one vote for each share held of record on all matters to be voted on by shareholders.

 

No
fractional warrants will be issued upon separation of the units and only whole warrants will trade.

 

Our
Transfer Agent and Warrant Agent

 

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

 

Certain
Differences in Corporate Law

 

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

 

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

 

Where
the merger or consolidation is between two Cayman Islands companies, the directors of each company must approve a written plan of merger
or consolidation containing certain prescribed information. That plan of merger or consolidation must then be authorized by either (a)
a special resolution (usually a majority of 662⁄3% in value who attend and vote at a general meeting) of the shareholders of each
company; or (b) such other authorization, if any, as may be specified in such constituent company’s articles of association. No
shareholder resolution is required for a merger between a parent company (i.e., a company that owns at least 90% of the issued shares
of each class in a subsidiary company) and its subsidiary company. The consent of each holder of a fixed or floating security interest
of a constituent company must be obtained, unless the court waives such requirement. If the Cayman Islands Registrar of Companies is
satisfied that the requirements of the Companies Act (which includes certain other formalities) have been complied with, the Registrar
of Companies will register the plan of merger or consolidation.

 

Where
the merger or consolidation involves a foreign company, the procedure is similar, save that with respect to the foreign company, the
directors of the Cayman Islands exempted company are required to make a declaration to the effect that, having made due enquiry, they
are of the opinion that the requirements set out below have been met: (1) that the merger or consolidation is permitted or not prohibited
by the constitutional documents of the foreign company and by the laws of the jurisdiction in which the foreign company is incorporated,
and that those laws and any requirements of those constitutional documents have been or will be complied with; (2) that no petition or
other similar proceeding has been filed and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign
company in any jurisdictions; (3) that no receiver, trustee, administrator or other similar person has been appointed in any jurisdiction
and is acting in respect of the foreign company, its affairs or its property or any part thereof; and (4) that no scheme, order, compromise
or other similar arrangement has been entered into or made in any jurisdiction whereby the rights of creditors of the foreign company
are and continue to be suspended or restricted.

 

    10

     

    

 

Where
the surviving company is the Cayman Islands exempted company, the directors of the Cayman Islands exempted company are further required
to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been
met: (1) that the foreign company is able to pay its debts as they fall due and that the merger or consolidated is bona fide and not
intended to defraud unsecured creditors of the foreign company; (2) that in respect of the transfer of any security interest granted
by the foreign company to the surviving or consolidated company (a) consent or approval to the transfer has been obtained, released or
waived; (b) the transfer is permitted by and has been approved in accordance with the constitutional documents of the foreign company;
and (c) the laws of the jurisdiction of the foreign company with respect to the transfer have been or will be complied with; (3) that
the foreign company will, upon the merger or consolidation becoming effective, cease to be incorporated, registered or exist under the
laws of the relevant foreign jurisdiction; and (4) that there is no other reason why it would be against the public interest to permit
the merger or consolidation.

 

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

 

Moreover,
Cayman Islands law also has separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain
circumstances, such schemes of arrangement will generally be more suited for complex mergers or other transactions involving widely held
companies, commonly referred to in the Cayman Islands as a “scheme of arrangement” which may be tantamount to a merger. In
the event that a merger was sought pursuant to a scheme of arrangement (the procedures of which are more rigorous and take longer to
complete than the procedures typically required to consummate a merger in the United States), the arrangement in question must be approved
by a majority in number of each class of shareholders and creditors with whom the arrangement is to be made and who must in addition
represent three-fourths in value of each such class of shareholders or creditors, as the case may be, that are present and voting either
in person or by proxy at a meeting, or meeting summoned for that purpose. The convening of the meetings and subsequently the terms of
the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder would have the right to express
to the court the view that the transaction should not be approved, the court can be expected to approve the arrangement if it is satisfied
that:

 

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

 

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

 

    11

     

    

 

		●	the
                                            arrangement is such as a business-person would reasonably approve; and

 

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

 

If
a scheme of arrangement or takeover offer (as described below) is approved, any dissenting shareholder would have no rights comparable
to appraisal rights, which would otherwise ordinarily be available to dissenting shareholders of U.S. corporations, providing rights
to receive payment in cash for the judicially determined value of the shares.

 

Squeeze-out
Provisions. When a takeover offer is made and accepted by holders of 90% of the shares to whom the offer relates within four months,
the offeror may, within a two-month period, require the holders of the remaining shares to transfer such shares on the terms of the offer.
An objection can be made to the Grand Court of the Cayman Islands, but this is unlikely to succeed unless there is evidence of fraud,
bad faith, collusion or inequitable treatment of the shareholders.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

We
have been advised by our Cayman Islands legal counsel that the courts of the Cayman Islands are unlikely (1) to recognize or enforce
against us judgments of courts of the United States predicated upon the civil liability provisions of the federal securities laws of
the United States or any state and (2) in original actions brought in the Cayman Islands, to impose liabilities against us predicated
upon the civil liability provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed
by those provisions are penal in nature. In those circumstances, although there is no statutory enforcement in the Cayman Islands of
judgments obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign
court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes
upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign
judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must not be in
respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the
grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural justice or the public
policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman Islands
Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

 

    12

     

    

 

Special
Considerations for Exempted Companies. We are an exempted company with limited liability under the Companies Act. The Companies Act
distinguishes between ordinary resident companies and exempted companies. Any company that is registered in the Cayman Islands but conducts
business mainly outside of the Cayman Islands may apply to be registered as an exempted company. The requirements for an exempted company
are essentially the same as for an ordinary company except for the exemptions and privileges listed below:

 

		●	an
                                            exempted company does not have to file an annual return of its shareholders with the Registrar
                                            of Companies;

 

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

 

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

 

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

 

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

 

		●	an
                                            exempted company may register by way of continuation in another jurisdiction and be deregistered
                                            in the Cayman Islands;

 

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

 

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

 

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

 

Our
Amended and Restated Memorandum and Articles of Association

 

Our
amended and restated memorandum and articles of association contain certain requirements and restrictions relating to our IPO that will
apply to us until the completion of our initial business combination. These provisions (other than amendments relating to provisions
governing the appointment or removal of directors prior to our initial business combination, which require the approval of a majority
of at least 90% of our ordinary shares attending and voting in a general meeting) cannot be amended without a special resolution. As
a matter of Cayman Islands law, a resolution is deemed to be a special resolution where it has been approved by either (1) holders of
at least two-thirds (or any higher threshold specified in a company’s articles of association) of a company’s ordinary shares
at a general meeting for which notice specifying the intention to propose the resolution as a special resolution has been given or (2)
if so authorized by a company’s articles of association, by a unanimous written resolution of all of the company’s shareholders.
Other than as described above, our amended and restated memorandum and articles of association provide that special resolutions must
be approved either by holders of at least two-thirds of our ordinary shares who attend and vote at a general meeting (i.e., the lowest
threshold permissible under Cayman Islands law), or by a unanimous written resolution of all of our shareholders.

 

Our
initial shareholders, who collectively beneficially own 20% of our ordinary shares upon the closing of our IPO, may participate in any
vote to amend our amended and restated memorandum and articles of association and will have the discretion to vote in any manner they
choose. Specifically, our amended and restated memorandum and articles of association provide, among other things, that:

 

		●	if
                                            we have not completed our initial business combination within 24 months from the closing
                                            of our IPO, we will: (1) cease all operations except for the purpose of winding up; (2) as
                                            promptly as reasonably possible but not more than 10 business days thereafter, redeem 100%
                                            of the public shares, at a per-share price, payable in cash, equal to the aggregate amount
                                            then on deposit in the trust account, including interest (less up to $100,000 of interest
                                            to pay dissolution expenses and which interest shall be net of taxes payable), divided by
                                            the number of then issued and outstanding public shares, which redemption will completely
                                            extinguish public shareholders’ rights as shareholders (including the right to receive
                                            further liquidating distributions, if any); and (3) as promptly as reasonably possible following
                                            such redemption, subject to the approval of our remaining shareholders and our board of directors,
                                            liquidate and dissolve, subject in each case to our obligations under Cayman Islands law
                                            to provide for claims of creditors and the requirements of other applicable law;

 

		●	prior
                                            to our initial business combination, we may not issue additional ordinary shares that would
                                            entitle the holders thereof to (1) receive funds from the trust account or (2) vote as a
                                            class with our public shares on any initial business combination;

 

    13

     

    

 

		●	although
                                            we do not intend to enter into a business combination with a target business that is affiliated
                                            with our sponsor, our directors or our officers, we are not prohibited from doing so. In
                                            the event we enter into such a transaction, we, or a committee of independent and disinterested
                                            directors, will obtain an opinion from an independent investment banking firm or another
                                            independent entity that commonly renders valuation opinions that such a business combination
                                            is fair to our company from a financial point of view;

 

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

 

		●	as
                                            long as our securities are listed on Nasdaq, our initial business combination must be with
                                            one or more operating businesses or assets with a fair market value equal to at least 80%
                                            of the assets held in the trust account (excluding the deferred underwriting commissions
                                            and taxes payable on the income earned on the trust account) at the time of the agreement
                                            to enter into our initial business combination;

 

		●	if
                                            our shareholders approve an amendment to our amended and restated memorandum and articles
                                            of association (A) to modify the substance or timing of our obligation to allow redemption
                                            in connection with our initial business combination or to redeem 100% of our public shares
                                            if we do not complete our initial business combination within 24 months from the closing
                                            of our IPO or (B) with respect to any other provision relating to shareholders’ rights
                                            or pre-initial business combination activity, we will provide our public shareholders with
                                            the opportunity to redeem all or a portion of their ordinary shares upon such approval at
                                            a per-share price, payable in cash, equal to the aggregate amount then on deposit in the
                                            trust account, including interest (which interest shall be net of taxes payable), divided
                                            by the number of then issued and outstanding public shares; and

 

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

In
addition, our amended and restated memorandum and articles of association provide that under no circumstances will we redeem our public
shares in an amount that would cause our net tangible assets to be less than $5,000,001 following such redemptions.

 

The
Companies Act permits a company incorporated in the Cayman Islands to amend its memorandum and articles of association with the approval
of the holders of at least two-thirds of such company’s issued and outstanding ordinary shares attending and voting at a general
meeting. A company’s articles of association may specify that the approval of a higher majority is required but, provided the approval
of the required majority is obtained, any Cayman Islands exempted company may amend its memorandum and articles of association regardless
of whether its memorandum and articles of association provide otherwise. Accordingly, although we could amend any of the provisions relating
to our proposed offering, structure and business plan which are contained in our amended and restated memorandum and articles of association,
we view all of these provisions as binding obligations to our shareholders and neither we, nor our directors or officers, will take any
action to amend or waive any of these provisions unless we provide dissenting public shareholders with the opportunity to redeem their
public shares.

 

Anti-Money
Laundering — Cayman Islands

 

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

 

    14

     

    

 

Data
Protection — Cayman Islands

 

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

 

In
this subsection, “we”, “us,” “our” and the “Company” refers to New Vista Acquisition
Corp or our affiliates and/or delegates, except where the context requires otherwise.

 

Privacy
Notice

 

Introduction

 

This
privacy notice puts our shareholders on notice that through your investment in the Company you will provide us with certain personal
information which constitutes personal data within the meaning of the Data Protection Act (“personal data”).

 

Investor
Data

 

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

 

In
our use of this personal data, we will be characterized as a “data controller” for the purposes of the Data Protection Act,
while our affiliates and service providers who may receive this personal data from us in the conduct of our activities may either act
as our “data processors” for the purposes of the Data Protection Act or may process personal information for their own lawful
purposes in connection with services provided to us.

 

We
may also obtain personal data from other public sources. Personal data includes, without limitation, the following information relating
to a shareholder and/or any individuals connected with a shareholder as an investor: name, residential address, email address, contact
details, corporate contact information, signature, nationality, place of birth, date of birth, tax identification, credit history, correspondence
records, passport number, bank account details, source of funds details and details relating to the shareholder’s investment activity.

 

Who
this Affects

 

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

 

How
the Company May Use a Shareholder’s Personal Data

 

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

 

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

 

		(b)	where
                                            this is necessary for compliance with a legal and regulatory obligation to which we are subject
                                            (such as compliance with anti-money laundering and FATCA/CRS requirements); and/or

 

    15

     

    

 

		(c)	where
                                            this is necessary for the purposes of our legitimate interests and such interests are not
                                            overridden by your interests, fundamental rights or freedoms.

 

Should
we wish to use personal data for other specific purposes (including, if applicable, any purpose that requires your consent), we will
contact you.

 

Why
We May Transfer Your Personal Data

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

 

We
anticipate disclosing personal data to persons who provide services to us and their respective affiliates (which may include certain
entities located outside the United States, the Cayman Islands or the European Economic Area), who will process your personal data on
our behalf.

 

The
Data Protection Measures We Take

Any
transfer of personal data by us or our duly authorized affiliates and/or delegates outside of the Cayman Islands shall be in accordance
with the requirements of the Data Protection Act.

 

We
and our duly authorized affiliates and/or delegates shall apply appropriate technical and organizational information security measures
designed to protect against unauthorized or unlawful processing of personal data, and against accidental loss or destruction of, or damage
to, personal data.

 

We
shall notify you of any personal data breach that is reasonably likely to result in a risk to your interests, fundamental rights or freedoms
or those data subjects to whom the relevant personal data relates.

 

Certain
Anti-Takeover Provisions of Our Amended and Restated Memorandum and Articles of Association

 

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

 

Listing
of Securities

 

Our
units, Class A ordinary shares and warrants are listed on Nasdaq under the symbols “NVSAU,” “NVSA” and “NVSAW,”
respectively.

 

 

16EXHIBIT 4.5

  

DESCRIPTION OF SECURITIES

 

We are a Delaware corporation and our affairs
are governed by our amended and restated certificate of incorporation and the DGCL. Pursuant to our amended and restated certificate of
incorporation, we are authorized to issue 400,000,000 shares of common stock, $0.0001 par value each, including 380,000,000 shares of
Class A common stock and 20,000,000 shares of Class B common stock, as well as 1,000,000 shares of preferred stock, $0.0001 par value
each. The following description summarizes certain terms of our capital stock as set out more particularly in our amended and restated
certificate of incorporation. Because it is only a summary, it may not contain all the information that is important to you.

 

Units

 

Each unit has an offering price of $10.00 and
consists of one share of Class A common stock and one-fifth of one redeemable warrant. Each whole warrant entitles the holder thereof
to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment as described in the prospectus relating
to our initial public offering, which closed on March 9, 2021 (the “Public Offering”). Pursuant to the warrant agreement,
a warrant holder may exercise its warrants only for a whole number of the shares of Class A common stock. This means only a whole warrant
may be exercised at any given time by a warrant holder. For example, if a warrant holder holds one-fifth of one warrant to purchase a
share of Class A common stock, such warrant will not be exercisable. If a warrant holder holds five-fifths of one warrant, such whole
warrant will be exercisable for one share of Class A common stock at a price of $11.50 per share. As the shares of Class A common stock
and warrants have commenced separate trading, holders will have the option to continue to hold units or separate their units into the
component securities. Holders will need to have their brokers contact our transfer agent in order to separate the units into Class A common
stock and warrants. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly,
unless you purchase at least five units, you will not be able to receive or trade a whole warrant.

 

Common Stock

 

Prior to the date of this Annual Report, there
were 6,468,750 shares of Class B common stock outstanding, all of which were held of record by our initial stockholders, so that our initial
stockholders own 20% of our issued and outstanding shares after the Public Offering. Upon the closing of the Public Offering, 32,543,750
of our shares of common stock were outstanding including:

 

		●	25,875,000 shares of Class A common stock underlying units issued as part of the Public Offering;

 

		●	6,468,750 shares of Class B common stock held by our initial stockholders; and

 

		●	200,000 shares of Class A common stock issued to EarlyBirdCapital, Inc. and/or its designees.

 

Stockholders of record are entitled to one vote
for each share held on all matters to be voted on by stockholders. Holders of Class A common stock and holders of Class B common
stock will vote together as a single class on all matters submitted to a vote of our stockholders except as required by law. Unless specified
in our amended and restated certificate of incorporation, or as required by applicable provisions of the DGCL or applicable stock exchange
rules, the affirmative vote of a majority of our shares of common stock that are voted is required to approve any such matter voted on
by our stockholders. Our board of directors is divided into three classes, each of which will generally serve for a term of three years
with only one class of directors being elected in each year. There is no cumulative voting with respect to the election of directors,
with the result that the holders of more than 50% of the shares voted for the election of directors can elect all of the directors. Our
stockholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available
therefor.

 

    

    

    

 

Because our amended and restated certificate of
incorporation authorizes the issuance of up to 380,000,000 shares of Class A common stock, if we were to enter into a business combination,
we may (depending on the terms of such a business combination) be required to increase the number of shares of Class A common stock which
we are authorized to issue at the same time as our stockholders vote on the business combination to the extent we seek stockholder approval
in connection with our initial business combination. Our board of directors is divided into three classes with only one class of directors
being elected in each year and each class (except for those directors appointed prior to our first annual meeting of stockholders) serving
a three-year term.

 

In accordance with the NYSE corporate governance
requirements, we are not required to hold an annual meeting until no later than one year after our first fiscal year end following our
listing on the NYSE. Under Section 211(b) of the DGCL, we are, however, required to hold an annual meeting of stockholders for the purposes
of electing directors in accordance with our bylaws, unless such election is made by written consent in lieu of such a meeting. We may
not hold an annual meeting of stockholders to elect new directors prior to the consummation of our initial business combination, and thus
we may not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting. Therefore, if our stockholders want us
to hold an annual meeting prior to the consummation of our initial business combination, they may attempt to force us to hold one by submitting
an application to the Delaware Court of Chancery in accordance with Section 211(c) of the DGCL.

 

We will provide our public stockholders with the
opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination at a per-share price,
payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business days prior to the consummation
of our initial business combination, including interest earned on the funds held in the trust account and not previously released to us
to pay our taxes, divided by the number of then outstanding public shares, subject to the limitations described herein. The amount in
the trust account is initially anticipated to be $10.00 per public share. Our initial stockholders, officers and directors have entered
into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any founder shares
and public shares they hold in connection with (i) the completion of our initial business combination and (ii) a stockholder
vote to approve an amendment to our amended and restated certificate of incorporation that would affect the substance or timing of our
obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we have not
completed an initial business combination within 24 months from the closing of the Public Offering. Unlike many special purpose acquisition
companies that hold stockholder votes and conduct proxy solicitations in conjunction with their initial business combinations and provide
for related redemptions of public shares for cash upon completion of such initial business combinations even when a vote is not required
by law, if a stockholder vote is not required by law and we do not decide to hold a stockholder vote for business or other reasons, we
will, pursuant to our amended and restated certificate of incorporation, conduct the redemptions pursuant to the tender offer rules of
the SEC, and file tender offer documents with the SEC prior to completing our initial business combination. Our amended and restated certificate
of incorporation will require these tender offer documents to contain substantially the same financial and other information about our
initial business combination and the redemption rights as is required under the SEC’s proxy rules. If, however, a stockholder approval
of the transaction is required by law, or we decide to obtain stockholder approval for business or other reasons, we will, like many special
purpose acquisition companies, offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant
to the tender offer rules. If we seek stockholder approval, we will complete our initial business combination only if a majority of the
shares of common stock voted are voted in favor of our initial business combination. However, the participation of our sponsor, officers,
directors, advisors or their respective affiliates in privately-negotiated transactions, if any, could result in the approval of
our initial business combination even if a majority of our public stockholders vote, or indicate their intention to vote, against such
initial business combination. For purposes of seeking approval of the majority of our outstanding shares of common stock, non-votes will
have no effect on the approval of our initial business combination once a quorum is obtained.

 

    2

    

    

 

If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer
rules, our amended and restated certificate of incorporation provides that a public stockholder, together with any affiliate of such stockholder
or any other person with whom such stockholder is acting in concert or as a “group” (as defined under Section 13 of the
Exchange Act), will be restricted from redeeming its shares with respect to Excess Shares, without our prior consent. However, we would
not be restricting our stockholders’ ability to vote all of their shares (including Excess Shares) for or against our initial business
combination. Our stockholders’ inability to redeem the Excess Shares will reduce their influence over our ability to complete our
initial business combination, and such stockholders could suffer a material loss in their investment if they sell such Excess Shares on
the open market. Additionally, such stockholders will not receive redemption distributions with respect to the Excess Shares if we complete
our initial business combination. And, as a result, such stockholders will continue to hold that number of shares exceeding 15% and, in
order to dispose such shares would be required to sell their shares in open market transactions, potentially at a loss.

 

If we seek stockholder approval in connection
with our initial business combination, our initial stockholders, officers and directors have agreed to vote any founder shares they hold
and any public shares purchased after the Public Offering in favor of our initial business combination. As a result, in addition to our
initial stockholders’ founder shares and the representative shares, we would need 9,603,126, or 37.1% (assuming all outstanding
shares are voted), of the 25,875,000 public shares sold in the Public Offering to be voted in favor of an initial business combination
in order to have our initial business combination approved (assuming all outstanding shares are voted). Additionally, each public stockholder
may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction.

 

Pursuant to our amended and restated certificate
of incorporation, if we are unable to complete our initial business combination within 24 months from the closing of the Public Offering,
we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than
ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then
on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to
pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares,
which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further
liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval
of our remaining stockholders and our board of directors, liquidate and dissolve, subject in each case to our obligations under Delaware
law to provide for claims of creditors and the requirements of other applicable law. Our initial stockholders have entered into agreements
with us, pursuant to which they have agreed to waive their rights to liquidating distributions from the trust account with respect to
their founder shares if we fail to complete our initial business combination within 24 months from the closing of the Public Offering
or during any Extension Period. However, if our initial stockholders or management team acquire public shares in or after the Public Offering,
they will be entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete our
initial business combination within the prescribed time period.

 

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

 

    3

    

    

 

Founder Shares

 

The founder shares are designated as Class B
common stock and, except as described below, are identical to the shares of Class A common stock included in the units sold in the
Public Offering, and holders of founder shares have the same stockholder rights as public stockholders, except that (i) the founder
shares are subject to certain transfer restrictions, as described in more detail below, (ii) our initial stockholders, officers and
directors have entered into a letter agreement with us, pursuant to which they have agreed (A) to waive their redemption rights with
respect to any founder shares and public shares they hold in connection with the completion of our initial business combination, (B) to
waive their redemption rights with respect to any founder shares and public shares they hold in connection with a stockholder vote to
approve an amendment to our amended and restated certificate of incorporation to modify the substance or timing of our obligation to allow
redemption in connection with our initial business combination or to redeem 100% of our public shares if we have not consummated an initial
business combination within 24 months from the closing of the Public Offering or with respect to any other provisions relating to
stockholders’ rights or pre-initial business combination activity and (C) to waive their rights to liquidating distributions
from the trust account with respect to any founder shares they hold if we fail to complete our initial business combination within 24 months
from the closing of the Public Offering or during any Extension Period, although they will be entitled to liquidating distributions from
the trust account with respect to any public shares they hold if we fail to complete our initial business combination within such time
period, and (iii) the founder shares are automatically convertible into Class A common stock concurrently with or immediately
following the consummation of our initial business combination on a one-for-one basis, subject to adjustment as described herein
and in our amended and restated certificate of incorporation. If we submit our initial business combination to our public stockholders
for a vote, our initial stockholders have agreed to vote their founder shares and any public shares purchased after the Public Offering
in favor of our initial business combination.

 

The founder shares will automatically convert
into shares of Class A common stock concurrently with or immediately following the consummation of our initial business combination
on a one-for-one basis, subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like,
and subject to further adjustment as provided herein. In the case that additional shares of Class A common stock or equity-linked securities
are issued or deemed issued in connection with our initial business combination, the number of shares of Class A common stock issuable
upon conversion of all founder shares will equal, in the aggregate, on an as-converted basis, 20% of the total number of shares of
Class A common stock outstanding after such conversion (after giving effect to any redemptions of shares of Class A common stock
by public stockholders), including the total number of shares of Class A common stock issued, or deemed issued or issuable upon conversion
or exercise of any equity-linked securities or rights issued or deemed issued, by the company in connection with or in relation to
the consummation of the initial business combination, excluding any shares of Class A common stock or equity-linked securities
or rights exercisable for or convertible into shares of Class A common stock issued, or to be issued, to any seller in the initial
business combination and any private placement warrants issued to our sponsor, officers or directors upon conversion of working capital
loans, provided that such conversion of founder shares will never occur on a less than one-for-one basis.

 

With certain limited exceptions, the founder shares
are not transferable, assignable or salable (except to our officers and directors and other persons or entities affiliated with our sponsor,
each of whom will be subject to the same transfer restrictions) until (i) with respect to 50% of such shares, for a period ending on the
earlier of the one-year anniversary of the date of the consummation of our initial business combination and the date on which the
closing price of our Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations,
recapitalizations and the like) for any 20 trading days within a 30-trading day period following the consummation of our initial
business combination and (ii) with respect to the remaining 50% of such shares, for a period ending on the one-year anniversary of
the date of the consummation of our initial business combination, or, in either case, earlier if, subsequent to our initial business combination,
we consummate a liquidation, merger, stock exchange or other similar transaction which results in all of our stockholders having the right
to exchange their shares of common stock for cash, securities or other property.

 

    4

    

    

 

Preferred Stock

 

Our amended and restated certificate of incorporation
authorizes 1,000,000 shares of preferred stock and provides that shares of preferred stock may be issued from time to time in one
or more series. Our board of directors will be authorized to fix the voting rights, if any, designations, powers, preferences, the relative,
participating, optional or other special rights and any qualifications, limitations and restrictions thereof, applicable to the shares
of each series. Our board of directors will be able to, without stockholder approval, issue shares of preferred stock with voting and
other rights that could adversely affect the voting power and other rights of the holders of the common stock and could have anti-takeover effects.
The ability of our board of directors to issue shares of preferred stock without stockholder approval could have the effect of delaying,
deferring or preventing a change of control of us or the removal of existing management. We have no preferred shares outstanding at the
date hereof. Although we do not currently intend to issue any shares of preferred stock, we cannot assure you that we will not do so in
the future. No shares of preferred stock were issued or registered in the Public Offering.

 

Warrants

 

Public Stockholders’ Warrants

 

Each whole warrant entitles the registered holder
to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment as discussed below, at any time
commencing 30 days after the completion of our initial business combination, provided that we have a current effective registration
statement under the Securities Act covering the shares of Class A common stock issuable upon exercise of the warrants and a current
prospectus relating to them is available (or we permit holders to exercise their warrants on a cashless basis under the circumstances
specified in the warrant agreement) and such shares are registered, qualified or exempt from registration under the securities, or blue
sky, laws of the state of residence of the holder. Pursuant to the warrant agreement, a warrant holder may exercise its warrants only
for a whole number of shares of Class A common stock. This means only a whole warrant may be exercised at a given time by a warrant
holder. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless you
purchase at least five units, you will not be able to receive or trade a whole warrant. The warrants will expire five years after the
completion of our initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

 

We will not be obligated to deliver any Class A
common stock pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement
under the Securities Act with respect to the Class A common stock underlying the warrants is then effective and a prospectus relating
thereto is current, subject to our satisfying our obligations described below with respect to registration. No warrant will be exercisable
and we will not be obligated to issue a share of Class A common stock upon exercise of a warrant unless the share of Class A
common stock issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the
state of residence of the registered holder of the warrants. In the event that the conditions in the two immediately preceding sentences
are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant
may have no value and expire worthless. In no event will we be required to net cash settle any warrant. In the event that a registration
statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase
price for the unit solely for the share of Class A common stock underlying such unit.

 

    5

    

    

 

We registered the shares of Class A common stock
issuable upon exercise of the warrants in the registration statement relating to our Public Offering because the warrants will become
exercisable 30 days after the completion of our initial business combination, which may be within one year of the Public Offering. However,
because the warrants will be exercisable until their expiration date of up to five years after the completion of our initial business
combination, in order to comply with the requirements of Section 10(a)(3) of the Securities Act following the consummation of our initial
business combination, we have agreed that as soon as practicable, but in no event later than twenty (20) business days after the closing
of our initial business combination, we will use our commercially reasonable efforts to file with the SEC a post-effective amendment
to the registration statement or a new registration statement for the registration, under the Securities Act, of the Class A common
stock issuable upon exercise of the warrants. We will use our best efforts to cause the same to become effective and to maintain the effectiveness
of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the warrants in accordance
with the provisions of the warrant agreement. If a registration statement covering the shares of Class A common stock issuable upon
exercise of the warrants is not effective by the sixtieth (60th) business day after the closing of our initial business combination,
warrant holders may, until such time as there is an effective registration statement and during any period when we will have failed to
maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9)
of the Securities Act or another exemption. Notwithstanding the above, if our Class A common stock are at the time of any exercise
of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under
Section 18(b)(1) of the Securities Act, we may, at our option, require holders of public warrants who exercise their warrants to
do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event we so elect, we
will not be required to maintain in effect a registration statement, and in the event we do not so elect, we will use our best efforts
to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

 

Redemption of warrants for cash.

 

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

 

		●	in whole and not in part;

 

		●	at a price of $0.01 per warrant;

 

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

 

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

 

We will not redeem the warrants as described above
unless a registration statement under the Securities Act covering the issuance of the Class A common stock issuable upon exercise
of the warrants is then effective and a current prospectus relating to those shares of Class A common stock is available throughout
the 30-day redemption period. If and when the warrants become redeemable by us, we may exercise our redemption right even if we are
unable to register or qualify the underlying securities for sale under all applicable state securities laws.

 

    6

    

    

 

We have established the last of the redemption
criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the warrant exercise
price. If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrant holder will be entitled
to exercise his, her or its warrant prior to the scheduled redemption date. Any such exercise would not be done on a “cashless”
basis and would require the exercising warrant holder to pay the exercise price for each warrant being exercised. However, the price of
the Class A common stock may fall below the $18.00 redemption trigger price (as adjusted for adjustments to the number of shares
issuable upon exercise or the exercise price of a warrant as described under the heading “— Warrants — Public Stockholders’
Warrants — Anti-dilution Adjustments”) as well as the $11.50 (for whole shares) warrant exercise price after the
redemption notice is issued.

 

Redemption Procedures

 

A holder of a warrant may notify us in writing
in the event it elects to be subject to a requirement that such holder will not have the right to exercise such warrant, to the extent
that after giving effect to such exercise, such person (together with such person’s affiliates), to the warrant agent’s actual
knowledge, would beneficially own in excess of 4.9% or 9.8% (as specified by the holder) of the Class A common stock outstanding
immediately after giving effect to such exercise.

 

Anti-Dilution Adjustments

 

If the number of outstanding shares of Class A
common stock is increased by a stock dividend payable in shares of Class A common stock, or by a split-up of common stock or
other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares of Class A
common stock issuable on exercise of each warrant will be increased in proportion to such increase in the outstanding shares of common
stock.

 

In addition, if we, at any time while the warrants
are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to all or substantially all of
the holders of the Class A common stock on account of such Class A common stock (or other securities into which the warrants
are convertible), other than (a) as described above, (b) any cash dividends or cash distributions which, when combined on a
per share basis with all other cash dividends and cash distributions paid on the Class A common stock during the 365-day period
ending on the date of declaration of such dividend or distribution does not exceed $0.50 (as adjusted to appropriately reflect any other
adjustments and excluding cash dividends or cash distributions that resulted in an adjustment to the exercise price or to the number of
shares of Class A common stock issuable on exercise of each warrant) but only with respect to the amount of the aggregate cash dividends
or cash distributions equal to or less than $0.50 per share, (c) to satisfy the redemption rights of the holders of Class A
common stock in connection with a proposed initial business combination, (d) to satisfy the redemption rights of the holders of Class A
common stock in connection with a stockholder vote to amend our amended and restated certificate of incorporation (A) to modify the
substance or timing of our obligation to provide holders of our Class A common stock the right to have their shares redeemed in connection
with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within
24 months from the closing of the Public Offering or (B) with respect to any other provisions relating to stockholders’
rights or pre-initial business combination activity, or (e) in connection with the redemption of our public shares upon our
failure to complete our initial business combination, then the warrant exercise price will be decreased, effective immediately after the
effective date of such event, by the amount of cash and/or the fair market value of any securities or other assets paid on each share
of Class A common stock in respect of such event.

 

If the number of outstanding shares of Class A
common stock is decreased by a consolidation, combination, reverse stock split or reclassification of Class A common stock or other
similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification or similar event,
the number of shares of Class A common stock issuable on exercise of each warrant will be decreased in proportion to such decrease
in outstanding shares of Class A common stock.

 

    7

    

    

 

Whenever the number of shares of Class A
common stock purchasable upon the exercise of the warrants is adjusted, as described above, the warrant exercise price will be adjusted
by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which will be the
number of shares of Class A common stock purchasable upon the exercise of the warrants immediately prior to such adjustment and (y) the
denominator of which will be the number of shares of Class A common stock so purchasable immediately thereafter.

 

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

 

In case of any reclassification or reorganization
of the outstanding Class A common stock (other than those described above or that solely affects the par value of such Class A
common stock), or in the case of any merger or consolidation of us with or into another corporation (other than a consolidation or merger
in which we are the continuing corporation and that does not result in any reclassification or reorganization of our outstanding Class A
common stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of us as an entirety
or substantially as an entirety in connection with which we are dissolved, the holders of the warrants will thereafter have the right
to purchase and receive, upon the basis and upon the terms and conditions specified in the warrants and in lieu of the Class A common
stock immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares
of Class A common stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger
or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the warrants would have received if such
holder had exercised their warrants immediately prior to such event.

 

The warrants were issued in registered form under
a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. The warrant agreement provides
that the terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct any defective provision,
and that all other modifications or amendments will require the vote or written consent of the holders of at least 50% of the then outstanding
public warrants, and, solely with respect to any amendment to the terms of the private placement warrants, a majority of the then outstanding
private placement warrants. You should review a copy of the warrant agreement, which was filed as an exhibit to the registration statement
relating to our Public Offering, for a complete description of the terms and conditions applicable to the warrants.

 

The warrants may be exercised upon surrender of
the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the reverse
side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price (or on a cashless
basis, if applicable), by certified or official bank check payable to us, for the number of warrants being exercised. The warrant holders
do not have the rights or privileges of holders of common stock and any voting rights until they exercise their warrants and receive Class A
common stock. After the issuance of Class A common stock upon exercise of the warrants, each holder will be entitled to one vote
for each share held of record on all matters to be voted on by stockholders.

 

    8

    

    

 

No fractional shares will be issued upon exercise
of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon
exercise, round down to the nearest whole number the number of shares of Class A common stock to be issued to the warrant holder.

 

We have agreed that, subject to applicable law,
any action, proceeding or claim against us arising out of or relating in any way to our warrant agreement will be brought and enforced
in the courts of the State of New York or the United States District Court for the Southern District of New York, and we
irrevocably submit to such jurisdiction, which jurisdiction will be the exclusive forum for any such action, proceeding or claim. This
provision applies to claims under the Securities Act but does not apply to claims under the Exchange Act or any claim for which the federal
district courts of the United States of America are the sole and exclusive forum.

 

Private Placement Warrants

 

Except as described below, the private placement
warrants have terms and provisions that are identical to those of the warrants being sold as part of the units in the Public Offering.
The private placement warrants (including the Class A common stock issuable upon exercise of the private placement warrants) will not
be transferable, assignable or salable until 30 days after the completion of our initial business combination (except pursuant to
limited exceptions to our officers and directors and other persons or entities affiliated with the initial purchasers of the private placement
warrants) and they will not be redeemable by us so long as they are held by our sponsor or its permitted transferees (except as otherwise
set forth herein). Our sponsor, or its permitted transferees, has the option to exercise the private placement warrants on a cashless
basis. If the private placement warrants are held by holders other than our sponsor or its permitted transferees, the private placement
warrants will be redeemable by us in all redemption scenarios and exercisable by the holders on the same basis as the warrants included
in the units being sold in the Public Offering.

 

If holders of the private placement warrants elect
to exercise them on a cashless basis, they would pay the exercise price by surrendering his, her or its warrants for that number of shares
of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common
stock underlying the warrants, multiplied by the excess of the “Sponsor fair market value” (defined below) over the exercise
price of the warrants by (y) the Sponsor fair market value. For these purposes, the “Sponsor fair market value” shall
mean the average reported closing price of the Class A common stock for the 10 trading days ending on the third trading day prior
to the date on which the notice of warrant exercise is sent to the warrant agent. The reason that we have agreed that these warrants will
be exercisable on a cashless basis so long as they are held by our sponsor and its permitted transferees is because it is not known at
this time whether they will be affiliated with us following a business combination. If they remain affiliated with us, their ability to
sell our securities in the open market will be significantly limited. We expect to have policies in place that restrict insiders from
selling our securities except during specific periods of time. Even during such periods of time when insiders will be permitted to sell
our securities, an insider cannot trade in our securities if he or she is in possession of material non-public information. Accordingly,
unlike public stockholders who could exercise their warrants and sell the Class A common stock received upon such exercise freely
in the open market in order to recoup the cost of such exercise, the insiders could be significantly restricted from selling such securities.
As a result, we believe that allowing the holders to exercise such warrants on a cashless basis is appropriate.

 

    9

    

    

 

In order to fund working capital deficiencies
or finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or
certain of our officers and directors may, but are not obligated to, loan us funds as may be required. Up to $1,500,000 of such loans
may be convertible into warrants of the post business combination entity at a price of $1.50 per warrant at the option of the lender.
Such warrants would be identical to the private placement warrants.

 

Our initial stockholders have agreed not to transfer,
assign or sell any of the private placement warrants (including the Class A common stock issuable upon exercise of any of these warrants)
until the date that is 30 days after the date we complete our initial business combination, except that, among other limited exceptions,
transfers can be made to our officers and directors and other persons or entities affiliated with the sponsor.

 

Dividends

 

We have not paid any cash dividends on our common
stock to date and do not intend to pay cash dividends prior to the completion of a business combination. The payment of cash dividends
in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent
to completion of a business combination. The payment of any cash dividends subsequent to a business combination will be within the discretion
of our board of directors at such time. Further, if we incur any indebtedness, our ability to declare dividends may be limited by restrictive
covenants we may agree to in connection therewith.

 

Our Transfer Agent and Warrant Agent

 

The transfer agent for our common stock and warrant
agent for our warrants is Continental Stock Transfer & Trust Company. We have agreed to indemnify Continental Stock Transfer &
Trust Company in its roles as transfer agent and warrant agent, its agents and each of its stockholders, directors, officers and employees
against all claims and losses that may arise out of acts performed or omitted for its activities in that capacity, except for any liability
due to any gross negligence or intentional misconduct of the indemnified person or entity. Continental Stock Transfer & Trust
Company has agreed that it has no right of set-off or any right, title, interest or claim of any kind to, or to any monies in, the
trust account, and has irrevocably waived any right, title, interest or claim of any kind to, or to any monies in, the trust account that
it may have now or in the future. Accordingly, any indemnification provided will only be able to be satisfied, or a claim will only be
able to be pursued, solely against us and our assets outside the trust account and not against any monies in the trust account or interest
earned thereon.

 

Amended and Restated Certificate of Incorporation

 

Our amended and restated certificate of incorporation
contains certain requirements and restrictions relating to the Public Offering that will apply to us until the completion of our initial
business combination. These provisions cannot be amended without the approval of the holders of 65% of our common stock. Our initial stockholders,
who collectively beneficially own 20% of our common stock upon the closing of the Public Offering, may participate in any vote to amend
our amended and restated certificate of incorporation and will have the discretion to vote in any manner they choose. Specifically, our
amended and restated certificate of incorporation provides, among other things, that:

 

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

 

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		●	Prior to our initial business combination, we may not issue additional securities that would entitle the
holders thereof to (i) receive funds from the trust account or (ii) vote as a class with our public shares (a) on our initial
business combination or (b) to approve an amendment to our amended and restated certificate of incorporation to (x) extend the
time we have to consummate a business combination beyond 24 months from the closing of the Public Offering or (y) amend the
foregoing provisions;

 

		●	Although we do not intend to enter into a business combination with a business that is affiliated with
our sponsor, our directors or our executive officers, we are not prohibited from doing so. In the event we enter into such a transaction,
we, or a committee of independent directors, will obtain an opinion from an independent investment banking firm which is a member of FINRA,
or another independent entity that commonly renders valuation opinions, stating that the consideration to be paid by us in such a business
combination is fair to our company from a financial point of view;

 

		●	If a stockholder vote on our initial business combination is not required by law and we do not decide
to hold a stockholder vote for business or other reasons, we will offer to redeem our public shares pursuant to Rule 13e-4 and
Regulation 14E of the Exchange Act, and will file tender offer documents with the SEC prior to completing our initial business combination
which contain substantially the same financial and other information about our initial business combination and the redemption rights
as is required under Regulation 14A of the Exchange Act. Whether or not we maintain our registration under the Exchange Act or our
listing on the NYSE, we will provide our public stockholders with the opportunity to redeem their public shares by one of the two methods
listed above;

 

		●	We must consummate an initial business combination with one or more operating businesses or assets with
a fair market value of at least 80% of the assets held in the trust account (net of amounts disbursed to management for working capital
purposes, if permitted) at the time of the agreement to enter into the initial business combination;

 

		●	If our stockholders approve an amendment to our amended and restated certificate of incorporation to modify
the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of
our public shares if we do not complete our initial business combination within 24 months from the closing of the Public Offering,
or with respect to any other provisions relating to stockholders’ rights or pre-initial business combination activity, we will
provide our public stockholders with the opportunity to redeem all or a portion of their Class A common stock upon such approval
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned
on the funds held in the trust account and not previously released to us to pay our taxes, divided by the number of then outstanding public
shares, subject to the limitations described herein; and

 

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

 

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In addition, our amended and restated certificate
of incorporation provides that under no circumstances will we redeem our public shares in an amount that would cause our net tangible
assets to be less than $5,000,001.

 

Certain Anti-Takeover Provisions of Delaware
Law and our Amended and Restated Certificate of Incorporation and Bylaws

 

We will be subject to the provisions of Section 203
of the DGCL regulating corporate takeovers upon completion of the Public Offering. This statute prevents certain Delaware corporations,
under certain circumstances, from engaging in a “business combination” with:

 

		●	a stockholder who owns 15% or more of our outstanding voting stock (otherwise known as an “interested
stockholder”);

 

		●	an affiliate of an interested stockholder; or

 

		●	an associate of an interested stockholder, for three years following the date that the stockholder became
an interested stockholder.

 

A “business combination” includes
a merger or sale of more than 10% of our assets. However, the above provisions of Section 203 do not apply if:

 

		●	our board of directors approves the transaction that made the stockholder an “interested stockholder,”
prior to the date of the transaction;

 

		●	after the completion of the transaction that resulted in the stockholder becoming an interested stockholder,
that stockholder owned at least 85% of our voting stock outstanding at the time the transaction commenced, other than statutorily excluded
shares of common stock; or

 

		●	on or subsequent to the date of the transaction, the initial business combination is approved by our board
of directors and authorized at a meeting of our stockholders, and not by written consent, by an affirmative vote of at least two-thirds of
the outstanding voting stock not owned by the interested stockholder.

 

Our amended and restated certificate of incorporation
provides that our board of directors will be classified into three classes of directors. As a result, in most circumstances, a person
can gain control of our board only by successfully engaging in a proxy contest at two or more annual meetings.

 

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

 

Exclusive Forum for Certain Lawsuits

 

Our amended and restated certificate of incorporation
will require, unless we consent in writing to the selection of an alternative forum, that (i) any derivative action or proceeding
brought on our behalf, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee
to us or our stockholders, (iii) any action asserting a claim against us, our directors, officers or employees arising pursuant to
any provision of the DGCL or our amended and restated certificate of incorporation or bylaws, or (iv) any action asserting a claim
against us, our directors, officers or employees governed by the internal affairs doctrine may be brought only in the Court of Chancery
in the State of Delaware, except any claim (A) as to which the Court of Chancery of the State of Delaware determines that there is
an indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does not consent to the personal
jurisdiction of the Court of Chancery within ten days following such determination), (B) which is vested in the exclusive jurisdiction
of a court or forum other than the Court of Chancery, or (C) for which the Court of Chancery does not have subject matter jurisdiction.
If an action is brought outside of Delaware, the stockholder bringing the suit will be deemed to have consented to service of process
on such stockholder’s counsel. Although we believe this provision benefits us by providing increased consistency in the application
of Delaware law in the types of lawsuits to which it applies, a court may determine that this provision is unenforceable, and to the extent
it is enforceable, the provision may have the effect of discouraging lawsuits against our directors and officers, although our stockholders
will not be deemed to have waived our compliance with federal securities laws and the rules and regulations thereunder.

 

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Notwithstanding the foregoing, our amended and
restated certificate of incorporation provides that the exclusive forum provision will not apply to suits brought to enforce a duty or
liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. Section 27 of
the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange
Act or the rules and regulations thereunder. Additionally, unless we consent in writing to the selection of an alternative forum, the
federal courts shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities
Act against us or any of our directors, officers, other employees or agents. Any person or entity purchasing or otherwise acquiring any
interest in our securities shall be deemed to have notice of and consented to these provisions.

 

Special Meeting of Stockholders

 

Our bylaws provide that special meetings of our
stockholders may be called only by a majority vote of our board of directors or by our Chief Executive Officer and Chairman.

 

Advance Notice Requirements for Stockholder
Proposals and Director Nominations

 

Our bylaws provide that stockholders seeking to
bring business before our annual meeting of stockholders, or to nominate candidates for election as directors at our annual meeting of
stockholders, must provide timely notice of their intent in writing. To be timely, a stockholder’s notice will need to be received
by the company secretary at our principal executive offices not later than the close of business on the 90th day nor earlier
than the opening of business on the 120th day prior to the anniversary date of the immediately preceding annual meeting
of stockholders. Pursuant to Rule 14a-8 of the Exchange Act, proposals seeking inclusion in our annual proxy statement must
comply with the notice periods contained therein. Our bylaws also specify certain requirements as to the form and content of a stockholders’
meeting. These provisions may preclude our stockholders from bringing matters before our annual meeting of stockholders or from making
nominations for directors at our annual meeting of stockholders.

 

Action by Written Consent

 

Subsequent to the consummation of the offering,
any action required or permitted to be taken by our common stockholders must be effected by a duly called annual or special meeting of
such stockholders and may not be effected by written consent of the stockholders other than with respect to our Class B common stock.

 

Classified Board of Directors

 

Our board of directors will initially be divided
into three classes, Class I, Class II and Class III, with members of each class serving staggered three-year terms. Our amended and
restated certificate of incorporation provides that the authorized number of directors may be changed only by resolution of the board
of directors. Subject to the terms of any preferred stock, any or all of the directors may be removed from office at any time, but only
for cause and only by the affirmative vote of holders of a majority of the voting power of all then outstanding shares of our capital
stock entitled to vote generally in the election of directors, voting together as a single class. Any vacancy on our board of directors,
including a vacancy resulting from an enlargement of our board of directors, may be filled only by vote of a majority of our directors
then in office.

 

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Class B Common Stock Consent Right

 

For so long as any shares of Class B common
stock remain outstanding, we may not, without the prior vote or written consent of the holders of a majority of the shares of Class B
common stock then outstanding, voting separately as a single class, amend, alter or repeal any provision of our certificate of incorporation,
whether by merger, consolidation or otherwise, if such amendment, alteration or repeal would alter or change the powers, preferences or
relative, participating, optional or other or special rights of the Class B common stock. Any action required or permitted to be
taken at any meeting of the holders of Class B common stock may be taken without a meeting, without prior notice and without a vote,
if a consent or consents in writing, setting forth the action so taken, shall be signed by the holders of the outstanding Class B
common stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at
which all shares of Class B common stock were present and voted.

 

Securities Eligible for Future Sale

 

Immediately after the Public Offering we have
32,543,750 shares of common stock outstanding. Of these shares, the shares of Class A common stock sold in the Public Offering (25,875,000
Class A common stock) are freely tradable without restriction or further registration under the Securities Act, except for any Class A
common stock purchased by one of our affiliates within the meaning of Rule 144 under the Securities Act. All of the outstanding founder
shares (6,468,750 founder shares), all of the outstanding private placement warrants (4,616,667 warrants) and all of the 200,000 representative
shares will be restricted securities under Rule 144, in that they were issued in private transactions not involving a public offering.

 

Rule 144

 

Pursuant to Rule 144, a person who has beneficially
owned restricted shares or warrants for at least six months would be entitled to sell their securities provided that (i) such person
is not deemed to have been one of our affiliates at the time of, or at any time during the three months preceding, a sale and (ii) we
are subject to the Exchange Act periodic reporting requirements for at least three months before the sale and have filed all required
reports under Section 13 or 15(d) of the Exchange Act during the 12 months (or such shorter period as we were required to file
reports) preceding the sale.

 

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

 

		●	1% of the total number of shares of common stock then outstanding, which will equal 325,438 shares immediately
after the Public Offering; or

 

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

 

Sales by our affiliates under Rule 144 are
also limited by manner of sale provisions and notice requirements and to the availability of current public information about us.

 

    14

    

    

 

Restrictions on the Use of Rule 144
by Shell Companies or Former Shell Companies

 

Rule 144 is not available for the resale
of securities initially issued by shell companies (other than business combination related shell companies) or issuers that have been
at any time previously a shell company. However, Rule 144 also includes an important exception to this prohibition if the following
conditions are met:

 

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

 

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

 

		●	the issuer of the securities has filed all Exchange Act reports and material required to be filed, as
applicable, during the preceding 12 months (or such shorter period that the issuer was required to file such reports and materials),
other than Form 8-K reports; and

 

		●	at least one year has elapsed from the time that the issuer filed current Form 10 type information
with the SEC reflecting its status as an entity that is not a shell company.

 

As a result, our initial stockholders will be
able to sell their founder shares and private placement warrants, as applicable, pursuant to Rule 144 without registration one year
after we have completed our initial business combination.

 

Registration Rights

 

The holders of (i) the founder shares and
(ii) the private placement warrants, including any private placement warrants that may be issued upon conversion of working capital
loans (and the shares of Class A common stock issuable upon exercise of such warrants) have registration rights to require us to
register a sale of any of our securities held by them prior to the consummation of our initial business combination pursuant to a registration
rights agreement. Pursuant to the registration rights agreement and assuming $1,500,000 of working capital loans are converted into private
placement warrants, we will be obligated to register up to 12,285,417 shares of Class A common stock and 5,616,667 warrants. The number
of shares of Class A common stock includes (i) 6,468,750 shares of Class A common stock to be issued upon conversion of the founder shares,
(ii) 4,616,667 shares of Class A common stock underlying the private placement warrants, (iii) 1,000,000 shares of Class A common stock
underlying the private placement warrants issued upon conversion of working capital loans and (iv) 200,000 representative shares. The
number of warrants includes 4,616,667 private placement warrants and 1,000,000 private placement warrants issued upon conversion of working
capital loans. The holders of these securities are entitled to make up to three demands, excluding short form demands, that we register
such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements
filed subsequent to our completion of our initial business combination. Notwithstanding the foregoing, EarlyBirdCapital, Inc. may not
exercise its demand and “piggy-back” registration rights more than five and seven years, respectively, after the effective
date of the registration statement relating to our Public Offering and may not exercise its demand rights on more than one occasion in
accordance with FINRA Rule 5110(g)(8). We will bear the expenses incurred in connection with the filing of any such registration statements.

 

Listing of Securities

 

Our units, Class A common stock and warrants are
listed on the NYSE under the symbols “IPVA.U,” “IPVA” and “IPVA WS,” respectively.

 

 

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