Document:

EX-10.8

 Exhibit 10.8 

SUPPORT SERVICES AGREEMENT 

This Support Services Agreement (this “Agreement”), dated as of [•], 2021, is made and entered into by
and between Crucible Acquisition Corp. II, a Delaware corporation (the “Company”), and Foundry Crucible II, LLC, a Delaware limited liability company (the “Service Provider” and, together with the Company, the
“Parties” and, each individually, a “Party”). 
 RECITALS 

WHEREAS, the Company intends to consummate an initial public offering of the Company’s securities (the “Public
Offering”); 
 WHEREAS, the Company was formed for the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”); and 

WHEREAS, the Company wishes to retain the Service Provider to provide certain support and administrative services, commencing
on the date the securities of the Company are first listed on the New York Stock Exchange (the “Listing Date”) and continuing until the earlier of the consummation by the Company of an initial Business Combination and the
Company’s liquidation (in each case, as described in the Registration Statement on Form S-1 (File No. 333-[•]) filed with the Securities and Exchange
Commission related to the Public Offering) (such earlier date hereinafter referred to as the “Termination Date”). 

NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained in this Agreement, the Company and the
Service Provider, intending to be legally bound, agree as follows: 
 ARTICLE I 

SERVICES 

Section 1.1 Services Generally. Commencing on the Listing Date and continuing until the Termination Date, to the
extent reasonably requested by the Company, the Service Provider shall render to the Company, by and through such of the Service Provider’s officers, employees, independent contractors, consultants, agents, representatives and affiliates as the
Service Provider, in its sole discretion, may designate from time to time, support and administrative services (collectively, the “Services”), including research, due diligence, transaction process management and execution,
information technology, public and investor relations, legal, facilities management, back office, vendor management, accounting, book and record keeping, cash management, secretarial services and other services in connection with identifying and
evaluating potential initial Business Combination targets that the Service Provider may recommend to the Company; provided that the Service Provider shall not provide any investment advice to the Company. 

Section 1.2 No Authority to Bind Principal. Notwithstanding any provision to the contrary in this Agreement, the
Service Provider shall not represent to any party that it possesses, and it does not in fact possess, the authority to execute binding contracts on behalf of the Company with any third party. 

 ARTICLE II 

SERVICE FEE 

Section 2.1 Support Services Fee. 

(a) In consideration of the performance of the Services contemplated by Section 1.1 hereof, the
Company agrees to pay the Service Provider or its designee(s) a monthly fee payable in cash equal to $20,000 (the “Support Services Fee”). The Support Services Fee shall be payable by the Company monthly in advance on the first
business day of each month that occurs following the Listing Date until the Termination Date, without regard to the amount of the Services actually performed by the Service Provider. Notwithstanding anything to the contrary, the first monthly
installment of the Support Services Fee shall be payable by the Company in advance on the Listing Date, instead of on the first business day of the first month that occurs following the Listing Date. 

Section 2.2 Expenses. In addition to the Support Services Fee payable to the Service Provider or its designee(s)
pursuant to Section 2.1 hereof, the Company shall, at the direction of the Service Provider, pay directly, or reimburse the Service Provider or its designee(s) for, its reasonable Out-of-Pocket Expenses (as defined below). For the purposes of this Agreement, the term “Out-of-Pocket
Expenses” shall mean all out of pocket expenses incurred by the Service Provider or its respective affiliates in connection with the performance of the Services, including (i) fees and disbursements of any independent auditors, outside
legal counsel, consultants, investment bankers, financial advisors and other independent professionals and organizations, (ii) costs of any outside services or independent contractors or vendors, such as financial printers, couriers, business
publications or similar services, (iii) transportation and other travel expenses, per diem, telephone calls, word processing expenses or any similar expense not associated with its ordinary operations, (iv) other out-of-pocket expenses incurred by the Service Provider to the extent reasonably allocated to the Company as a result of the Services in a manner consistent with the Service
Provider’s generally applicable cost allocation polices, including purchases through the Service Provider’s vendor networks and relationships for access to research databases, due diligence services, computer, network and office equipment
and third-party communications vendors, and (v) all other expenses which are properly allocable to the Company under this Agreement, whether incurred on or after the date of this Agreement. All reimbursements for
Out-of-Pocket Expenses shall be made promptly upon or as soon as practicable after presentation by the Service Provider to the Company of the statement in connection
therewith. 
 Section 2.3 Any payment made pursuant to this Article II shall be paid by wire transfer of
immediately available federal funds to the accounts specified by the Company from time to time. 

  
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 ARTICLE III 

WAIVER 

Section 3.1 Waiver. Notwithstanding anything herein to the contrary, the Service Provider hereby irrevocably
waives any and all right, title, interest, causes of action and claims of any kind (each, a “Claim”) in or to, and any and all right to seek payment of any amounts due to it out of, the trust account established for the benefit of
the public shareholders of the Company and into which substantially all of the proceeds of the Public Offering will be deposited (the “Trust Account”), and hereby irrevocably waives any Claim it may have in the future as a result
of, or arising out of, this Agreement, which Claim would reduce, encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or
satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever. 

ARTICLE IV 

CONFIDENTIAL INFORMATION 

Section 4.1 Nondisclosure of Confidential Information. The Service Provider shall treat as confidential all
Confidential Information (as defined below) of the Company, shall not, without the consent of the Company, (i) use such Confidential Information except as set forth herein or (ii) disclose such Confidential Information other than to the
Company or its Related Parties (as defined below); provided that each such person receiving Confidential Information is bound (on terms no less restrictive than those set forth in this Section 4.1) to maintain the
confidentiality of such Confidential Information; provided, further, that the foregoing restriction shall not apply to any such information that is required to be disclosed by law or the order or regulations of any governmental
authority or to establish or enforce any rights under this Agreement. Without limiting the foregoing, the Service Provider shall use at least the same degree of care that it uses to prevent the disclosure of its own confidential information of like
importance to prevent the disclosure of Confidential Information disclosed to it by the Company under this Agreement. For the purposes of this Agreement, the term “Confidential Information” shall mean all information, data,
agreements, letters, documents, reports and records, which are oral or in writing, containing confidential information concerning the Company and any of its affiliates or assets which is delivered or made available by the Company or its
representatives or affiliates to the Service Provider after the date hereof; provided that Confidential Information does not include (x) information which is obtained by the Service Provider after the date hereof from a source other than
the Company or its representatives or affiliates that is not bound by an obligation to keep such information confidential, (y) information which is or becomes generally available to the public other than as a result of a disclosure in violation
of this Agreement, or (z) information developed independently by the Service Provider without reference to or use of the Confidential Information. 

  
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 ARTICLE V 

INDEMNIFICATION; DISCLAIMER AND LIMITATION OF LIABILITY; OPPORTUNITIES. 

Section 5.1 Indemnity and Liability. Subject to Section 3.1, the Company shall
(i) indemnify, exonerate and hold the Service Provider and each of its partners, shareholders, members, affiliates, directors, officers, fiduciaries, managers, controlling persons, employees, independent contractors and agents and each of the
partners, shareholders, members, affiliates, directors, officers, fiduciaries, managers, controlling persons, employees, independent contractors and agents of each of the foregoing (collectively, the “Related Parties”) free and
harmless from and against any and all actions, causes of action, suits, claims, liabilities, losses, damages and costs and out-of-pocket expenses in connection therewith
(including attorneys’ fees and expenses) incurred by the Related Parties or any of them before or after the date of this Agreement (collectively, the “Indemnified Liabilities”), arising out of any action, cause of action, suit,
arbitration, investigation or claim arising out of, or in any way relating to, (i) this Agreement, any transaction to which the Company is a party or any other circumstances with respect to the Company or (ii) the operations of, or the
Services provided by the Service Provider to, the Company, or any of its affiliates from time to time; provided, however, that the foregoing indemnification rights will not be available to the extent that any such Indemnified
Liabilities arose on account of such Indemnitee’s gross negligence or willful misconduct; and provided, further, that if and to the extent that the foregoing undertaking may be unavailable or unenforceable for any reason, the
Company hereby agrees to make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. For purposes of this Section 5.1, none of the
circumstances described in the limitations contained in the two provisos in the immediately preceding sentence will be deemed to apply absent a final non-appealable judgment of a court of competent
jurisdiction to such effect, in which case to the extent any such limitation is so determined to apply to any Indemnitee as to any previously advanced indemnity payments made by the Company, then such payments will be promptly repaid by such
Indemnitee to the Company without interest. The rights of any Indemnitee to indemnification hereunder will be in addition to any other rights any such person may have under any other agreement or instrument to which such Indemnitee is or becomes a
party or is or otherwise becomes a beneficiary or under law or regulation. 
 Section 5.2 Disclaimer; Standard of
Care. The Service Provider makes no representations or warranties, express or implied, in respect of the Services. In no event will the Service Provider or its Related Parties be liable to the Company or any of its affiliates for any act,
alleged act, omission or alleged omission that does not constitute gross negligence or willful misconduct by the Service Provider as determined by a final, non-appealable determination of a court of competent
jurisdiction. 
 ARTICLE VI 

TERMINATION 

Section 6.1 Termination. This Agreement shall terminate upon the earlier of (a) the Termination Date and
(b) the mutual agreement of the Parties. 

  
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 Section 6.2 The Company’s Right to Terminate for Cause. The
Company may terminate its participation in this Agreement or any part hereof for cause, immediately and without prior written notice, in the event of any of the following by the Service Provider: (a) a material breach of any provision of this
Agreement; (b) a failure to fulfill or perform any duties or obligations to the Company pursuant to this Agreement; provided that the Service Provider fails to remedy any such failure within thirty (30) days of its receipt of a
written notice from the Company of its intent to terminate this Agreement; or (c) if (i) any proceeding in bankruptcy, reorganization or arrangement for the appointment of a receiver or trustee to take possession of the Service Provider’s
assets or any other proceeding under any law for relief from creditors shall be instituted by or against the Service Provider (and such proceeding is not dismissed within sixty (60) days from the filing date); or (ii) if the Service
Provider shall make an assignment for the benefit of its creditors. 
 Section 6.3 The Service Provider’s Right
to Terminate for Cause. The Service Provider may terminate its participation in this Agreement or any part hereof for cause, immediately and without prior written notice, in the event of (a) any of failure by the Company to pay to the
Service Provider any amount due pursuant to this Agreement by the Company if such failure continues for a period of thirty (30) consecutive days after receipt of written notice of such failure from such Service Provider, (b) the
commencement by the Company of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee,
trustee, custodian, sequestrator (or other similar official) of the Company or for any substantial part of its property, or the making by it of any assignment for the benefit of creditors, or (c) the entry of a decree or order for relief by a
court having jurisdiction in the premises in respect of the Company in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar
official of the Company or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a
period of thirty (30) consecutive days. 
 Section 6.4 Effect of Termination. In the event of a termination
of this Agreement, the Company will pay the Service Provider or its designees all unpaid amounts due pursuant to Article II and Section 5.1 with respect to the periods prior to the termination of this Agreement. This
Section 6.4 and Articles III, IV, V and VII shall survive any termination of this Agreement. 

ARTICLE VII 

MISCELLANEOUS 

Section 7.1 Independent Contractor Status. This Agreement shall not be construed as creating any agency,
partnership, joint venture, or other similar legal relationship between or among the Parties; nor will any Party hold itself out as an agent, partner, or joint venture party of another Party. Each Party shall be, and shall act as, independent
contractors. No Party shall have authority to create any obligation for another Party. Further, the Service Provider shall be responsible for: (1) selecting and hiring its employees legally, including compliance with all applicable laws in
connection therewith; (2) paying its employees’ wages and other benefits that the Service Provider offers to such employees in accordance with applicable laws; (3) paying or 

  
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withholding all required payroll taxes and mandated insurance premiums; (4) providing workers’ compensation coverage for employees as required by law; and (5) fulfilling
employer’s obligations with respect to unemployment compensation. The Service Provider shall indemnify the Company from a claim made by the Service Provider’s employee or agent against the Company alleging rights or benefits as a Company
employee. 
 Section 7.2 Notices. All notices, requests, demands and other communications given hereunder shall
be in writing and personally delivered or mailed by registered or certified mail, postage prepaid, to 700 Front St. Ste 104, Louisville, Colorado 80027, or to any other address designated by a Party in accordance with the provisions of this
Section 7.2. Each such notice or other communication shall for all purposes of this Agreement be treated as effective or as having been received when delivered, if delivered by hand or by messenger (or overnight courier),
24 hours after confirmed receipt if sent by facsimile transmission or at the earlier of its receipt or on the fifth (5th) day after mailing, if mailed, as aforesaid. 

Section 7.3 Entire Agreement. This Agreement constitute the entire agreement between and among the Parties hereto
with respect to the transactions contemplated hereby, and supersede all written and verbal negotiations, representations, warranties, commitments, and other understandings prior to the date hereof between the Service Provider and the Company. 

Section 7.4 Amendment and Waiver. This Agreement may be amended, and the observance of any clause of this
Agreement may be waived, only with the written consent of all Parties affected thereby. Any waiver by either Party hereto of any provision of this Agreement shall not be construed as a waiver of any other provision of this Agreement, nor shall such
waiver be construed as a waiver of such provision with respect to any other event or circumstance, whether past, present or future. 

Section 7.5 Execution in Counterparts. This Agreement may be executed in counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same agreement. 
 Section 7.6
Assignment. The Service Provider hereby acknowledges that the Services to be provided to the Company hereunder are unique and personal. Accordingly, the Service Provider shall not assign this Agreement or any rights hereunder without the
prior written consent of the Company. Any attempted assignment without such written consent shall be null and void. 

Section 7.7 Governing Law; Forum Selection; Waiver of Jury Trial. This Agreement shall be governed by, and
construed in accordance with, the laws of the State of New York. SUBJECT TO SECTION 7.8, EACH OF THE PARTIES HERETO IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF ANY STATE COURT IN NEW YORK COUNTY IN THE STATE OF NEW
YORK OR ANY U.S. FEDERAL COURT SITTING IN NEW YORK COUNTY IN NEW YORK STATE IN RESPECT OF ANY AND ALL SUITS, CLAIMS, DISPUTES, CHALLENGES, ACTIONS OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE RIGHTS OF ANY PARTY HERETO UNDER THIS
AGREEMENT, AND THE PERFORMANCE OF THE OBLIGATIONS IMPOSED BY THIS AGREEMENT (“CLAIMS”), AND IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, 

  
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GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. SUBJECT TO SECTION 7.8, EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY
EFFECTIVELY DO SO UNDER APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH CLAIM BROUGHT IN ANY SUCH COURT AND ANY CLAIM BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. THE
PARTIES WAIVE THE RIGHT TO A TRIAL BY JURY IN ANY DISPUTE OR OTHER CLAIM IN CONNECTION WITH THIS AGREEMENT. 
 Section 7.8
Arbitration. 
 (a) If any Claim arises, the party making such Claim shall provide a written notice (a
“Claim Notice”) to the other party hereto, specifying the nature of the Claim and thereafter, the parties shall negotiate in good faith to resolve such Claim expeditiously. If the parties do not resolve the Claim within forty-five
(45) days of a Claim Notice, the parties shall endeavor in good faith to resolve such Claim expeditiously using informal dispute resolution techniques, such as mediation, expert evaluation, or determination or similar techniques reasonably
agreed by the parties. If the parties do not resolve the Claim within ninety (90) days of a Claim Notice, then the Claim shall be submitted to mandatory, final and binding arbitration administered by JAMS, Inc. (“JAMS”)
pursuant to its Comprehensive Arbitration Rules and Procedures in effect at the time of filing of the demand for arbitration, subject to the provisions of this Section 7.8, pursuant to the Federal Arbitration Act, 9 U.S.C.,
Section 1 et seq. The place of arbitration shall be [Louisville], Colorado. 
 (b) There shall be three
(3) arbitrators, with one arbitrator to be appointed by each party and the third to be appointed by the two (2) arbitrators so appointed. The arbitrators shall be agreed upon by the parties within twenty (20) days of receipt by the
respondent of a copy of the demand for arbitration. If the parties do not agree upon arbitrators within this time limit, such arbitrators shall be appointed by JAMS in accordance with the listing, striking and ranking procedure in the Rules, with
each party being given a limited number of strikes, except for cause. Any arbitrator appointed by JAMS shall be a retired judge or a practicing attorney with no less than twenty years of experience with corporate and limited liability company
matters and an experienced arbitrator. In rendering an award, such arbitrators shall be required to follow the laws of the state of New York. 

(c) The arbitration shall be the sole and exclusive forum for resolution of the Claim, and the award shall be in writing,
state the reasons for the award, and be final and binding. Judgment thereon may be entered in any court of competent jurisdiction. The arbitrators shall not be permitted to award punitive, multiple or other
non-compensatory damages. Any costs or fees (including attorneys’ fees and expenses) incident to enforcing the award shall be charged against the party resisting such enforcement. The arbitrators shall be
permitted to, but shall not be required to, award to the prevailing party, if any, the costs and attorneys’ fees reasonably incurred by the prevailing party in connection with the arbitration. 

(d) The parties agree that the arbitration shall be kept confidential and that the existence of the proceeding and any
element of it (including but not limited to any pleadings, briefs 

  
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or other documents submitted or exchanged, any documents disclosed by one party to another, testimony or other oral submission and any awards or decisions) shall not be disclosed beyond the
arbitrators, JAMS, the parties, their legal and professional advisors, and any person necessary for the conduct of the arbitration, except as may be required in judicial proceedings relating to the arbitration, or by law, regulatory or governmental
authority. 
 (e) Barring extraordinary circumstances (as determined in the sole discretion of the arbitrator), discovery
shall be limited to pre-hearing disclosure of documents that each side will present in support of its case, and, in response to reasonable documents requests,
non-privileged documents in the responding party’s possession or custody, not otherwise readily available to the party seeking the documents, and reasonably believed to exist, that may be relevant and
material to the outcome of disputed issues. There shall be no depositions. 
 (f) By agreeing to arbitration, the parties
do not intend to deprive any court of its jurisdiction to issue a pre-arbitral injunction, pre-arbitral attachment, or other order in aid of arbitration proceedings and
the enforcement of any award. Without prejudice to such provisional remedies as may be available under the jurisdiction of a court, the arbitrator shall have full authority to grant provisional remedies and to direct the parties to request that any
court modify or vacate any temporary or preliminary relief issued by such court, and to award damages for the failure of any party to respect the arbitrator’s orders to that effect. In any such judicial action: (i) each of the parties
irrevocably and unconditionally consents to the exclusive jurisdiction and venue of the federal or state courts located in New York (the “New York Courts”) for the purpose of any pre-arbitral
injunction, pre-arbitral attachment, or other order in aid of arbitration proceedings, and to the non-exclusive jurisdiction of such courts for the enforcement of any
judgment on any award; (ii) each of the parties irrevocably waives, to the fullest extent they may effectively do so, any objection, including any objection to the laying of venue or based on the grounds of forum non conveniens or any right of
objection to jurisdiction on account of its place of incorporation or domicile, which it may now or hereafter have to the bringing of any such action or proceeding in any New York Courts; (iii) each of the parties irrevocably consents to
service of process by first class certified mail, return receipt requested, postage prepaid; and (iv) each of the parties hereby irrevocably waives any and all right to trial by jury. 

Section 7.9 Severability. If any provision or provisions of this Agreement shall, for any reason, be deemed
unenforceable or in violation of law, such unenforceability or violation shall not affect the remaining provisions of this Agreement, which shall continue in full force and effect and be binding upon the Parties hereto. The Parties will use their
best efforts to agree upon any changes in this Agreement which may be necessary in order to adjust its remaining provisions with regard to the omission of any invalid clause in order to make this Agreement workable. 

Section 7.10 Section Headings. The headings of the sections, paragraphs, and exhibits herein are for the
Parties’ convenient reference only and shall not define or limit any of the terms or provisions hereof. Exhibits and other documents referred to in this Agreement are an integral part hereof, unless the context of such reference indicates
otherwise. 
 Section 7.11 Damages. NOTWITHSTANDING ANYTHING CONTAINED HEREIN TO THE CONTRARY, IN NO EVENT SHALL
ANY PARTY HERETO BE LIABLE TO ANOTHER FOR PUNITIVE, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING LIABILITY FOR LOSS OF USE, LOSS OF PROFITS, LOSS OF PRODUCT OR BUSINESS INTERRUPTION HOWEVER THE SAME MAY BE CAUSED, INCLUDING FAULT OR
NEGLIGENCE OF ANY PARTY. 

  
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 Section 7.12 Construction. The words “hereof,”
“herein,” and “hereunder” and words of similar import when used in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement, and section and subsection references are to this
Agreement unless other-wise specified. The words “include” or “including” when used in this Agreement are deemed to be followed by the words “but not be limited to” or “but not limited to,” respectively. 

[The remainder of this page is intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the Parties hereto have caused this Support Services
Agreement to be signed as of the date set forth below. 
  

									
	 CRUCIBLE ACQUISITION CORP. II

		
	By:	 	 
		
		 	 Name: Jason M. Lynch

		 	 Title:   Chief Administrative Officer

	
	 FOUNDRY CRUCIBLE II, LLC

		
	 By:
	 	Foundry Group Next 2018, L.P., its Managing Member
		
		 	 By: FG Next 2018, LLC, its General Partner

				
		 		 	 By:
	 	 
				
		 		 		 	Name: Brad Feld
		 		 		 	Title:   Managing Member

  
 [Signature Page to
Support Services Agreement]Document

Exhibit 4.3 

DESCRIPTION OF THE COMPANY’S SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
 
As of December 31, 2020, PubMatic, Inc. (the “Company,” “we,” “us,” and “our”) had one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): our Class A common stock.

DESCRIPTION OF CAPITAL STOCK

The following description of our capital stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our Restated Certificate of Incorporation (the “Certificate of Incorporation”) and our Restated Bylaws (the “Bylaws”), each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.1 is a part. We encourage you to read our Certificate of Incorporation, our Bylaws and the applicable provisions of the Delaware General Corporation Law (the “DGCL”), for additional information.

Authorized Capital Stock
 
Our authorized capital stock consists of 1,000,000,000 shares of Class A common stock, $0.0001 par value per share, 1,000,000,000 shares of Class B common stock, $0.0001 par value per share, and 10,000,000 shares of undesignated preferred stock, $0.0001 par value per share.

Our board of directors has the authority, without further action by the stockholders, to issue the authorized but unissued shares of common stock and preferred stock. These additional shares may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of authorized but unissued shares of preferred stock enables our board of directors to render more difficult or to discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise.

Economic Rights

Except as otherwise expressly provided in our Certificate of Incorporation or required by applicable law, shares of Class A common stock and Class B common stock have the same rights and privileges and rank equally, share ratably and are identical in all respects as to all matters, including, without limitation, those described below.
 
Dividends. Any dividend or distributions paid or payable to the holders of shares of Class A common stock and Class B common stock will be paid equally, identically and ratably, on a per share basis, unless different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately as a class; provided, however, that if a dividend or distribution is paid in the form of Class A common stock or Class B common stock (or rights to acquire shares of Class A common stock or Class B common stock), then the holders of the Class A common stock will receive Class A common stock (or rights to acquire shares of Class A common stock) and holders of Class B common stock will receive Class B common stock (or rights to acquire shares of Class B common stock).

Subdivisions and Combinations. If we subdivide or combine in any manner outstanding shares of Class A common stock or Class B common stock, then the outstanding shares of all common stock will be subdivided or combined in the same proportion and manner, unless different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately as a class.

Right to Receive Liquidation Distributions. Subject to the preferential or other rights of any holders of preferred stock then outstanding, upon our liquidation, dissolution or winding up, holders of Class A common stock and Class B common stock will be entitled to receive ratably all of our assets available for distribution to our stockholders unless  treatment of the shares of each such class is approved  by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately as a class.

Change of Control Transaction. In connection with any distribution or payment in respect of our capital stock upon the merger or consolidation of PubMatic with or into any other entity, the holders of Class A common stock and Class B common stock will be treated equally and identically with respect to shares of Class A common stock or Class B common stock owned by them, unless different treatment of the shares of each class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A common stock and Class B common stock, each voting separately as a class.

Voting Rights

Holders of our Class A common stock are entitled to one vote for each share of Class A common stock held on all matters submitted to a vote of stockholders and holders of our Class B common stock are entitled to ten votes for each share of Class B common stock held on all matters submitted to a vote of stockholders. Holders of shares of our Class A common stock and Class B common stock vote together as a single class on all matters (including the election of directors) submitted to a vote of stockholders, unless otherwise required by Delaware law or our Certificate of Incorporation. Delaware law could require either holders of our Class A common stock or Class B common stock to vote separately as a single class in the following circumstances: (1) if we were to seek to amend our Certificate of Incorporation to increase or decrease the par value of a class of our capital stock, then that class would be required to vote separately to approve the proposed amendment; and (2) if we were to seek to amend our Certificate of Incorporation on in a manner that alters or changes the powers, preferences, or special rights of a class of our capital stock in a manner that affected its holders adversely, then that class would be required to vote separately to approve the proposed amendment.

We have not provided for cumulative voting for the election of directors in our Certificate of Incorporation. Accordingly, holders of a majority of the shares of our common stock will be able to elect all of our directors then standing for election.

No Preemptive or Similar Rights

Our common stock is not entitled to preemptive rights, and is not subject to redemption or sinking fund provisions.

Conversion

Each outstanding share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon any transfer, whether or not for value, except for certain permitted transfers described in our Certificate of Incorporation, including transfers to family members, trusts solely for the benefit of the stockholder or their family members, and partnerships, corporations, and other entities exclusively owned by the stockholder or their family members. However, our executive officers, board of directors, and their respective affiliates may only convert through a transfer triggering automatic conversion described above, and not an optional conversion. Once converted or transferred and converted into Class A common stock, the Class B common stock will not be reissued.

All the outstanding shares of Class B common stock will convert automatically into shares of Class A common stock on December 11, 2030. Following such conversion, each share of Class A common stock will have 

one vote per share and the rights of the holders of all outstanding common stock will be identical. Once converted into Class A common stock, the Class B common stock may not be reissued.

Choice of Forum

Our Certificate of Incorporation provides that, to the fullest extent permitted by law, the Court of Chancery of the State of Delaware will be the exclusive forum for (i) any derivative action or proceeding brought on our behalf; (ii) any action asserting a breach of fiduciary duty; (iii) any action asserting a claim against us arising pursuant to the DGCL, our Certificate of Incorporation or our Bylaws; (iv) or any action asserting a claim against us that is governed by the internal affairs doctrine. Our Bylaws provide that the federal district courts of the United States of America are, to the fullest extent permitted by law, the exclusive forum for resolving any complaint asserting a cause of action arising under the Securities Act of 1933, as amended (the “Securities Act”), which we refer to as a Federal Forum Provision. Our decision to adopt a Federal Forum Provision followed a decision by the Supreme Court of the State of Delaware holding that such provisions are facially valid under Delaware law. While there can be no assurance that federal courts or state courts will follow the holding of the Delaware Supreme Court or determine that the Federal Forum Provision should be enforced in a particular case, application of the Federal Forum Provision means that suits brought by our stockholders to enforce any duty or liability created by the Securities Act must be brought in federal court and cannot be brought in state court. While neither the exclusive forum provision nor the Federal Forum Provision applies to suits brought to enforce any duty or liability created by the Exchange Act, Section 27 of the Exchange Act creates exclusive federal jurisdiction over all claims brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. Accordingly, actions by our stockholders to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder also must be brought in federal court. Our stockholders will not be deemed to have waived our compliance with the federal securities laws and the regulations promulgated thereunder. Any person or entity purchasing or otherwise acquiring or holding any interest in any of our securities shall be deemed to have notice of and consented to our exclusive forum provisions, including the Federal Forum Provision. These provisions may limit a stockholder’s ability to bring a claim in a judicial forum of their choosing for disputes with us or our directors, officers or other employees, which may discourage lawsuits against us and our directors, officers, and other employees.

Preferred Stock
Under the terms of our Certificate of Incorporation, our board of directors is authorized, subject to limitations prescribed by the DGCL, to issue preferred stock in one or more series, to establish from time to time the number of shares to be included in each series and to fix the designation, powers, preferences, and rights of the shares of each series and any of its qualifications, limitations or restrictions, in each case without further vote or action by our stockholders. Our board of directors may increase or decrease the number of shares of any series of preferred stock, but not below the number of shares of that series then outstanding, without any further vote or action by our stockholders. Our board of directors may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of our common stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring, or preventing a change in control of our company and might adversely affect the voting and other rights of the holders of our common stock. 

Anti-Takeover Provisions

The provisions of the DGCL, our Certificate of Incorporation, and our Bylaws, could have the effect of delaying, deferring or discouraging another person from acquiring control of our company. These provisions, which are summarized below, are expected to discourage certain types of coercive takeover practices and inadequate takeover bids and encourage persons seeking to acquire control of our company to first negotiate with our board of directors. We believe that the benefits of increased protection of our potential ability to negotiate with an unfriendly or unsolicited acquirer outweigh the disadvantages of discouraging a proposal to acquire us because negotiation of these proposals could result in an improvement of their terms.

Section 203 of the Delaware General Corporation Law

We are subject to, and have not opted out of, the provisions of Section 203 of the DGCL regulating corporate takeovers. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a three-year period following the time that this stockholder becomes an interested stockholder, unless the business combination is approved in a prescribed manner. Under Section 203, a business combination between a corporation and an interested stockholder is prohibited unless it satisfies one of the following conditions:

(1)before the stockholder became interested, the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;

(2)upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder), shares owned (i) by persons who are directors and also officers, and (ii) employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

(3)at or after the time the stockholder became interested, the business combination was approved by the board of directors and authorized at an annual or special meeting of the stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the interested stockholder.

In general, Section 203 defines a “business combination” to include the following:

(1)any merger or consolidation involving the corporation and the interested stockholder;

(2)any sale, transfer, lease, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;

(3)subject to exceptions, any transaction that results in the issuance of transfer by the corporation of any stock of the corporation to the interested stockholder;

(4)any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; or

(5)the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.

In general, Section 203 defines an “interested stockholder” as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by the entity or person.

Dual Class Common Stock

As described above, our Certificate of Incorporation provides for a dual class common stock structure pursuant to which holders of our Class B common stock (which include our founders, pre-IPO investors, executives, 

and employees) will have the ability to control the outcome of matters requiring stockholder approval, even if they own significantly less than a majority of the shares of our outstanding Class A and Class B common stock, including the election of directors and significant corporate transactions, such as a merger or other sale of our company or its assets. 

Board Vacancies

Our Certificate of Incorporation and Bylaws authorize generally only our board of directors to fill vacant directorships resulting from any cause or created by the expansion of our board of directors. In addition, the number of directors constituting our board of directors may be set only by resolution adopted by a majority vote of our entire board of directors. These provisions prevent a stockholder from increasing the size of our board of directors and gaining control of our board of directors by filling the resulting vacancies with its own nominees.

Classified Board

Initially, our board of directors will not be classified. However, our Certificate of Incorporation and Bylaws provide that our board of directors will be classified into three classes of directors at such time as the outstanding shares of our Class B common stock represent less than a majority of the combined voting power of our common stock. Directors may be removed from office with or without cause so long as our board of directors is not classified, and after our board of directors is classified, directors may be removed from office only for cause. The existence of a classified board of directors could delay a successful tender offeror from obtaining majority control of our board of directors, and the prospect of that delay might deter a potential offeror. 

Stockholder Action

Initially, stockholders may take action by written consent. However, our Certificate of Incorporation provide that stockholders may no longer take action by written consent at such time as the outstanding shares of our Class B common stock represent less than a majority of the combined voting power of our common stock. At such time, our stockholders may only take action at annual or special meetings of our stockholders. Stockholders will not be permitted to cumulate their votes for the election of directors. Our Bylaws further provide that special meetings of our stockholders may be called only by a majority of our entire board of directors. Additionally, our Bylaws limit the business that may be conducted at an annual meeting of stockholders to those matters properly brought before the meeting.

Holding Requirements for Stockholder Proposals and Director Nominations

Our Bylaws require continuous, beneficial ownership of 1% of our common stock for one year for 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. These provisions may delay or preclude our stockholders from bringing matters before our annual meeting of stockholders and from making nominations for directors at our annual meeting of stockholders.

Advance Notice Requirements for Stockholder Proposals and Director Nominations

Our Bylaws provide advance notice procedures for 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. Our Bylaws also specify certain requirements regarding the form and content of a stockholder’s notice. 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.

Amendment to Certificate of Incorporation and Bylaws 

Certain amendments to Certificate of Incorporation will require approval by the holders of at least two-thirds of our outstanding common stock. An amendment to our Bylaws requires the approval of a majority of our entire board of directors or approval by the holders of at least two-thirds of our outstanding common stock.

Transfer Agent and Registrar

The transfer agent and registrar for our common stock is Computershare Trust Company, N.A. The address for the transfer agent and registrar is 480 Washington Blvd Jersey City, NJ 07310, and its telephone number is (800) 962-4284.

Exchange Listing

Our Class A common stock is listed on the NASDAQ Global Market under the symbol “PUBM.”

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