Document:

Exhibit 4.2

 

DESCRIPTION OF CAPITAL STOCK

 

The following
description of Fusion Acquisition Corp.’s (the “Company,” “we” or “us”) capital stock is a
summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to the Company’s
third amended and restated certificate of incorporation (the “Charter”) and the Company’s 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 4.2 is a part. We encourage you to read the Charter, the Bylaws and the applicable provisions of the Delaware General
Corporation Law, for additional information.

 

General

 

Our Charter authorizes
us to issue up to 401,000,000 shares of common stock, consisting of (i) 380,000,000 shares of Class A common stock, $0.0001 par
value per share (“Class A common stock”) and (ii) 20,000,000 shares of Class B common stock, $0.0001 par value per
share (“Class B Common Stock”), and 1,000,000 shares of preferred stock, $0.0001 par value per share.

 

Units

 

Each of the units (the
“Units”) sold in our initial public offering (the “Public Offering”) consists of one share of Class A common
stock and one-half 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. 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.
The shares of Class A common stock and warrants underlying the Units began to trade separately on August 14, 2020, and unit holders
have the option to continue to hold Units or separate their Units into the component pieces.

 

Common Stock

 

(A)       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 Charter, 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.

 

(B)       Because
our Charter 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.

(C)       In
accordance with the New York Stock Exchange (“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 NYSE. Under Section 211(b) of the Delaware
General Corporation Law (“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.

 

    	 	 	 

    

    

 

Redemptions

 

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 (which
interest shall be net of taxes payable), 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. 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.
Our initial stockholders, sponsor, 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 the completion of our
initial business combination. 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 legal reasons, we will, pursuant to our Charter, 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 Charter requires 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 legal 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 affiliates in privately-negotiated transactions (as described in this prospectus), 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.

 

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 Charter 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 20% 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, sponsor, officers and directors have agreed to vote any
founder shares they hold, and any public shares purchased during or after the Public Offering in favor of our initial business combination.
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 Charter, if we are unable to complete our initial business combination by December 31, 2021, 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 (which interest shall be net of taxes payable and 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 by December 31, 2021 or any extended period of time that we may have to consummate an initial business
combination as a result of an amendment to our Charter. However, if our initial stockholders or management team have acquired or will
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.

 

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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 (which interest shall be net of taxes payable), divided by the number of then outstanding public shares, upon the completion
of our initial business combination, subject to the limitations described herein.

 

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, 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, sponsor, 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 Charter to modify
the substance or timing of our obligation to redeem 100% of our public shares if we have not consummated an initial business combination
by December 31, 2021, or with respect to any other material 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 by December 31, 2021, or any extended period of time that we may have
to consummate an initial business combination as a result of an amendment to our Charter, 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 Charter. 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 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 saleable (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 the earlier of (A) one year after the completion
of our initial business combination or earlier if, subsequent to our initial business combination, the closing price of the 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 any 30-trading day period commencing at least 150 days after our initial business combination,
and (B) the date following the completion of our initial business combination on which we complete a liquidation, merger, capital stock
exchange or other similar transaction that results in all of our stockholders having the right to exchange their Class A common stock
for cash, securities or other property.

 

 

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Preferred Stock

 

Our Charter 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 as of 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.

 

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 on the later of June 30, 2021, and 30 days after the completion of our initial business combination, provided
in each case that we have an 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 two 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 are not obligated to deliver
any shares of 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.

 

We have agreed that as soon
as practicable, but in no event later than fifteen (15) business days after the closing of our initial business combination, we will
use our best efforts to file with the SEC a 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 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 file
or 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.

 

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Redemption of Warrants 

 

Once the public warrants become
exercisable, we may call the warrants for redemption for cash:

 

		●	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 (the “30-day redemption period”)
to each warrant holder; and

 

		●	if, and only if, the reported closing price of our common stock equals or exceeds $18.00 per share for
any 20 trading days within a 30-trading day period ending three business days before we send the notice of redemption to the warrant holders.

 

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.

 

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. However, the price of our common stock
may fall below the $18.00 redemption trigger price as well as the $11.50 warrant exercise price (for whole shares) after the redemption
notice is issued.

 

If we call the warrants for
redemption, 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.” 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 stockholders
of issuing the maximum number of shares of Class A common stock 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 shares of Class
A common stock equal to the quotient obtained by dividing (x) the product of the number of Class A common stock underlying the warrants,
multiplied by the excess of the “fair market value” of our Class A common stock (defined below) over the exercise price of
the warrants by (y) the fair market value. The “fair market value” will mean the average 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 redemption is sent to the holders
of warrants. If our management takes advantage of this option, the notice of redemption will contain the information necessary to calculate
the number of shares of Class A common stock to be received upon exercise of the warrants, including the “fair market value”
in such case. Requiring a cashless exercise in this manner will reduce the number of shares to be issued and thereby lessen the dilutive
effect of a warrant redemption. We believe this feature is an attractive option to us if we do not need the cash from the exercise of
the warrants after our initial business combination. If we call our warrants for redemption and our management does not take advantage
of this option, the holders of the private placement warrants and their 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.

 

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.

 

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If the number of outstanding
shares of Class A common stock is increased by a share capitalization 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 share capitalization, 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. A rights offering to holders of common stock entitling holders to purchase Class A common stock at a price less
than the fair market value will be deemed a share capitalization of a number of shares of Class A common stock equal to the product of
(i) the number of shares of Class A common stock actually sold in such rights offering (or issuable under any other equity securities
sold in such rights offering that are convertible into or exercisable for Class A common stock) multiplied by (ii) one (1) minus the
quotient of (x) the price per share of Class A common stock paid in such rights offering and divided by (y) the fair market value. For
these purposes (i) if the rights offering is for securities convertible into or exercisable for shares of Class A common stock, in determining
the price payable for Class A common stock, there will be taken into account any consideration received for such rights, as well as any
additional amount payable upon exercise or conversion and (ii) fair market value means the volume weighted average price of shares of
Class A common stock as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the
Class A common stock trades 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 a dividend or make a distribution in cash, securities or other
assets to the holders of 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) certain ordinary cash dividends, (c) to satisfy the redemption
rights of the holders of Class A common stock in connection with a proposed initial business combination, or (d) 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.

 

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If the number of outstanding
shares of Class A common stock is decreased by a consolidation, combination, reverse share split or reclassification of Class A
common stock or other similar event, then, on the effective date of such consolidation, combination, reverse share 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 share of Class A common stock.

 

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 of Class A common stock (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 after 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 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. If less than 70% of the consideration receivable by the holders of Class A common stock in such a transaction is
payable in the form of Class A common stock 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 thirty days following public disclosure
of such transaction, the warrant exercise price will be reduced as specified in the warrant agreement based on the Black-Scholes
Warrant Value (as defined in the warrant agreement) of the warrant. The purpose of such exercise price reduction is to provide
additional value to holders of the warrants when an extraordinary transaction occurs during the exercise period of the warrants
pursuant to which the holders of the warrants otherwise do not receive the full potential value of the warrants.

 

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.

 

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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.

 

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.

 

Private Placement Warrants

 

The private placement
warrants (including the Class A common stock issuable upon exercise of the private placement warrants) will not be transferable,
assignable or saleable until 30 days after the completion of our initial business combination (except, among other 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 for cash so long as they are held by the initial stockholders or their permitted
transferees. The initial purchasers, or their permitted transferees, have the option to exercise the private placement warrants
on a cashless basis. Except as described herein, the private placement warrants have terms and provisions that are identical to
those of the warrants being sold as part of the Units, including that they may be redeemed for shares of Class A common stock.
If the private placement warrants are held by holders other than the initial purchasers or their permitted transferees, the private
placement warrants will be redeemable by us and exercisable by the holders on the same basis as the warrants included in the Units.

 

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 “fair market
value” of our Class A common stock (defined below) over the exercise price of the warrants by (y) the fair market value.
The “fair market value” will mean the average 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 the initial purchasers
or their 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 prohibit 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 shares of 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.

 

In order to 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.

 

    8

    

    

 

Certain Anti-Takeover Provisions of
Delaware Law, Our Charter and Our Bylaws

 

We are currently subject
to the provisions of Section 203 (“Section 203”) of the DGCL regulating corporate takeovers. Section 203 prevents
certain Delaware corporations, under certain circumstances, from engaging in a “business combination” with:

 

		●	a stockholder who owns fifteen percent (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 ten percent (10%) of the Company’s 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 eighty-five percent (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 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 Charter provides
that our Board is 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.

 

In addition, our Charter
does not provide for cumulative voting in the election of directors. Our Board of Directors is empowered to elect a director to
fill a vacancy created by the expansion of our Board or the resignation, death, or removal of a director in certain circumstances;
and our advance notice provisions require that stockholders must comply with certain procedures in order to nominate candidates
to our Board or to propose matters to be acted upon at a stockholders’ meeting.

 

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 Charter requires, 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 Charter 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, (C) for which the Court of Chancery
does not have subject matter jurisdiction, or (D) any action arising under the Securities Act, as to which the Court of Chancery and
the federal district court for the District of Delaware shall have concurrent 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.

 

    9

    

    

 

Notwithstanding the
foregoing, our Charter 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.

 

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, by our Chief Executive
Officer or by our 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 Charter 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.

 

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 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.

 

Dividends

 

We have not paid any
cash dividends on our common stock to date. The payment of cash dividends in the future will be dependent upon our revenues and
earnings, if any, capital requirements and general financial condition. The payment of any cash dividends will be within the discretion
of our Board at such time. Our Board is not currently contemplating and does not anticipate declaring any stock dividends in the
foreseeable future. Further, if we incur any indebtedness, our ability to declare dividends may be limited by restrictive covenants
we may agree to in connection therewith.

 

    10

    

    

 

Limitations of Liability and Indemnification

 

Our Charter and our
Bylaws provide that we will indemnify our directors and officers, and may indemnify our employees and other agents, to the fullest
extent permitted by the DGCL, which prohibits our Charter from limiting the liability of its directors for the following:

 

		●	any breach of the director’s duty of loyalty to
the Company or to its stockholders;

 

		●	acts or omissions not in good faith or that involve intentional misconduct or a knowing violation
of law;

 

		●	unlawful payment of dividends or unlawful stock repurchases or redemptions; and

 

		●	any transaction from which the director derived an improper personal benefit.

 

If Delaware law is
amended to authorize corporate action further eliminating or limiting the personal liability of a director, then the liability
of our directors will be eliminated or limited to the fullest extent permitted by Delaware law, as so amended. Our Charter does
not eliminate a director’s duty of care and, in appropriate circumstances, equitable remedies, such as injunctive or other
forms of non-monetary relief, remain available under Delaware law. This provision also does not affect a director’s responsibilities
under any other laws, such as the federal securities laws or other state or federal laws. Under our Bylaws, we are empowered to
purchase insurance on behalf of any person whom it is required or permitted to indemnify.

 

In addition to the
indemnification required in our Charter and our Bylaws, we have entered into indemnification agreements with each of our directors,
officers, and some employees, effective upon consummation of the Business Combination. These agreements provide for the indemnification
of such directors, officers, and employees for certain expenses and liabilities incurred in connection with any action, suit, proceeding,
or alternative dispute resolution mechanism, or hearing, inquiry, or investigation that may lead to the foregoing, to which they
are a party, or are threatened to be made a party, by reason of the fact that they are or were a director, officer, employee, agent,
or fiduciary of the Company, or any of its subsidiaries, by reason of any action or inaction by them while serving as an officer,
director, employee, agent, or fiduciary, or by reason of the fact that they were serving at the Company request as a director,
officer, employee, agent, or fiduciary of another entity. In the case of an action or proceeding by or in the right of the Company
or any of its subsidiaries, no indemnification will be provided for any claim where a court determines that the indemnified party
is prohibited from receiving indemnification. We believe that the provisions of our Charter and Bylaws described above and these
indemnification agreements are necessary to attract and retain qualified persons as directors and officers. We also maintain directors’
and officers’ liability insurance.

 

The limitation of liability
and indemnification provisions in our Charter and our Bylaws may discourage stockholders from bringing a lawsuit against directors
for breach of their fiduciary duties. They may also reduce the likelihood of derivative litigation against directors and officers,
even though an action, if successful, might benefit the Company and its stockholders. A stockholder’s investment may be harmed
to the extent that we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification
provisions.

 

Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to our directors, officers, and controlling persons pursuant
to the foregoing provisions, or otherwise, we have been advised that, in the opinion of the SEC, such indemnification is against
public policy as expressed in the Securities Act, and is, therefore, unenforceable.

 

There is no pending
litigation or proceeding naming any of our directors or officers as to which indemnification is being sought, nor are we aware
of any pending or threatened litigation that may result in claims for indemnification by any director or officer.

 

Registration Rights

 

The holders of the
founder shares and warrants that may be issued upon conversion of working capital loans (and any Class A common stock issuable
upon the exercise of the private placement warrants and warrants that may be issued upon conversion of working capital loans and
upon conversion of the founder shares) are entitled to registration rights pursuant to a registration rights agreement, requiring
us to register such securities for resale. 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. 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 currently listed on the NYSE under the symbols “FUSE.U”, “FUSE” and “FUSE
WS”, respectively.

 

Transfer Agent and Registrar

 

The transfer agent and registrar for our
common stock is Continental Stock Transfer & Trust Company.

 

 

11Exhibit 4.2

 

DESCRIPTION
OF SECURITIES

 

As
of December 31, 2020, Ajax I (“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-fourth 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 Ajax I Holdings, LLC, a Delaware limited liability company and references
to our “initial shareholder” refers to our sponsor, as it held 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,
the Companies Act (As Revised) 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 preferred
shares, $0.0001 par value each. Because the below 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-fourth of one redeemable warrant. Each whole warrant entitles the holder
thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as described below.
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, among other thing, amending our
amended and restated memorandum and articles of association and approving a statutory merger or consolidation with another company. There
is no cumulative voting with respect to the appointment of directors, with the result that the holders of a simple majority of the founder
shares voting in favor of 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 NYSE 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 the NYSE. 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 amount in the trust account is initially anticipated to be $10.00 per public share. 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 as described elsewhere in the prospectus related to our IPO. 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 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 a resolution passed by a simple majority of the members as, being entitled
to so do, vote in person or by proxy at a general meeting. However, the participation of our sponsor, directors, officers, advisors or
any of their affiliates in privately-negotiated transactions (as described in this prospectus), 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. We intend to give not less than 10 days nor more
than 60 days prior written notice of any such meeting, if required, at which a vote shall be taken to approve our initial business combination.
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.

 

    2

     

    

 

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.

 

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 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.

 

    3

     

    

 

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, as described in more detail below; (3) our initial shareholders,
directors and officers have entered into a letter agreement with us, pursuant to which they 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 directors and officers. 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.

 

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 the like, 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, 10% 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, the founder shares are not transferable, assignable or salable (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) two years 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 the like) for any 20 trading
days within any 30-trading day period commencing at least 150 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 will be entered therein:

 

		●	the
names and addresses of the members, a statement of the shares held by each member;

  

    4

     

    

 

		●	whether
voting rights are attached to the share in issue;

 

		●	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 will 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 will be immediately updated to reflect the issue
of shares by us. Once our register of members has been updated, the shareholders recorded in the register of members will 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.

 

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. Accordingly, unless you purchase at least four 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 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 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”. 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.

 

    5

     

    

 

We have agreed
that as soon as practicable, but in no event later than 15 business days, after the closing of our initial business combination,
we will use our commercially reasonable efforts to file with the SEC a registration statement covering the issuance, under the
Securities Act, of the Class A ordinary shares issuable upon exercise of the warrants, and we will use our commercially reasonable
efforts to cause the same to become effective within 60 business days after the closing of our initial business combination and
to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration
of the warrants in accordance with the provisions of the warrant agreement. Notwithstanding the above, if our Class A ordinary
shares are, at the time of any exercise of a warrant, not listed on a national securities exchange such that they satisfy the
definition of a “covered security” under Section 18(b)(1) of the Securities Act, we may, at our option, require
holders of public warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9)
of the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect a registration statement,
but will use our commercially reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent
an exemption is not available. In such event, each holder would pay the exercise price by surrendering the warrants for that number
of Class A ordinary shares equal to the 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” 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 warrants (except as described herein with respect to the private placement warrants):

 

		●	in
                                         whole and not in part;

 

		●	at
                                         a price of $0.01 per warrant;

 

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

 

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

 

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. 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 (for whole shares) 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 (except as described herein with respect to the private placement 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; and

 

		●	if,
                                         and only if, the Reference Value (as defined above under “Redemption of warrants
                                         when the price per Class A ordinary share equals or exceeds $18.00”) equals
                                         or exceeds $10.00 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”).

 

    6

     

    

 

During
the period beginning on the date the notice of redemption is given, 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 such 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 for these purposes based on volume weighted
average price of our Class A ordinary shares 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.

 

	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	 

 

    7

     

    

 

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
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 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 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 typical warrant redemption features used in many other blank check offerings, which typically
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 (other than the private placement warrants) 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 related 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 wait 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.

 

    8

     

    

 

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

 

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.

 

    9

     

    

 

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 $18.00 per share redemption trigger prices 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, and 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.

 

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.

 

    10

     

    

 

The warrants will be issued
in registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. You should
review a copy of the warrant agreement for a complete description of the terms and conditions applicable to the warrants. 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 set forth in the prospectus related to our IPO, 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 65% of the then outstanding public
warrants and, solely with respect to any amendment to the terms of the private placement warrants or working capital warrants or any
provision of the warrant agreement with respect to the private placement warrants or working capital warrants, at least 65% of the then
outstanding private placement warrants or working capital warrants, respectively.

 

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 it 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.

 

    11

     

    

 

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.

 

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.

 

    12

     

    

 

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 general 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;

 

		●	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.    Maples
and Calder (Cayman) LLP, our Cayman Islands legal 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;

 

    13

     

    

 

		●	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.

 

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.

 

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.

 

    14

     

    

 

“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 this offering 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 who are entitled to vote, attend
and vote 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 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;

 

		●	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 that is a member of FINRA or from an independent accounting firm 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;

 

    15

     

    

 

		●	as
                                         long as our securities are listed on the NYSE, 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 net assets held in trust (net of amounts disbursed to management
                                         for working capital purposes and excluding the amount of any deferred underwriting discount
                                         held in trust);

 

		●	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.

 

Data
Protection — Cayman Islands

 

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

 

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

 

    16

     

    

 

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 DPL (“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 DPL, 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 DPL, 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 DPL 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

 

		(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.

 

    17

     

    

 

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 US, 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 DPL.

 

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 preferred 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 preferred 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 the NYSE under the symbols “AJAX.U,” “AJAX”
and “AJAX WS,” respectively.

 

 

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