Document:

Exhibit 10.4

 

FORM
OF REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT (this
“Agreement”), dated as of _____, 2015, is made and entered into by and among Atlantic Alliance Partnership
Corp., a business company incorporated under the laws of the British Virgin Islands with limited liability (the “Company”),
AAP Sponsor (PTC) Corp, a business company incorporated under the laws of the British Virgin Islands with limited liability (the
“Sponsor”, together with any person or entity who hereafter becomes a party to this Agreement pursuant
to Section 5.2 of this Agreement, a “Holder” and collectively the “Holders”).

 

RECITALS

 

WHEREAS,
the Company and the Sponsor have entered into that certain Securities Purchase Agreement (the “Founder Shares
Purchase Agreement”), dated as of January 15, 2015, pursuant to which the Sponsor purchased an aggregate of
2,156,250 shares (the “Initial Shares”) of the Company’s ordinary shares, no par value (the
“Ordinary Shares”);

 

WHEREAS, on April 8, 2015, the
Company and the Sponsor entered into that certain Amended and Restated Private Placement Shares Purchase Agreement, (the “Private
Placement Shares Purchase Agreement”), pursuant to which the Sponsor agreed to purchase 762,500 Ordinary Shares (or
858,125 Ordinary Shares in the event the underwriter’s overallotment option is exercised in full)(collectively, the “Private
Placement Shares”), in a private placement transaction occurring simultaneously with the closing of the Company’s
initial public offering; and

 

WHEREAS, the Company and the Holders
desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration rights with respect
to certain securities of the Company, as set forth in this Agreement.

 

NOW, THEREFORE, in consideration
of the representations, covenants and agreements contained herein, and certain other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

1.1.         Definitions. The terms defined
in this Article I shall, for all purposes of this Agreement, have the respective meanings set forth below:

 

“Adverse Disclosure”
shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief
Executive Officer or principal financial officer of the Company, after consultation with counsel to the Company, (i) would be required
to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to
contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein
(in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under which they were made) not
misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed, and (iii) the
Company has a bona fide business purpose for not making such information public.

 

“Agreement”
shall have the meaning given in the Preamble.

 

“Board” shall
mean the Board of Directors of the Company.

 

    	 

    	 

    

 

“Business Combination”
shall mean any share exchange, share reconstruction and amalgamation, contractual control arrangement with, purchasing all or substantially
all of the assets of, or engaging in any other similar initial business combination with one or more businesses or entities, involving
the Company.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

“Company” shall
have the meaning given in the Preamble.

 

“Demand Registration”
shall have the meaning given in subsection 2.1.1.

 

“Demanding Holder”
shall have the meaning given in subsection 2.1.1.

 

“Exchange Act”
shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Form S-1” shall
have the meaning given in subsection 2.1.1.

 

“Form S-3” shall
have the meaning given in subsection 2.3.

 

“Founder Shares”
shall have the meaning given in the Recitals hereto.

 

“Founder Shares Purchase Agreement”
shall have the meaning given in the Recitals hereto.

 

“Holders” shall
have the meaning given in the Preamble.

 

“Initial Shares”
shall have the meaning given in the Recitals hereto.

 

“Lockup Periods”
shall mean the lockup periods set forth in the letter agreements by and among the Company, the Sponsor and the Company’s
officers, directors and initial shareholder, as described in the Prospectus.

 

“Maximum Number of Securities”
shall have the meaning given in subsection 2.1.4.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration
Statement or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus (in the case of the Prospectus,
in the light of the circumstances under which they were made) not misleading.

 

“Ordinary Shares”
shall have the meaning given in the Recitals hereto.

 

“Permitted Transferees”
shall mean a person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities prior
to the expiration of the Lockup Period.

 

“Piggyback Registration”
shall have the meaning given in subsection 2.2.1.

 

“Private Placement Shares”
shall have the meaning given in the Recitals hereto.

 

“Private Placement Shares
Purchase Agreement” shall have the meaning given in the Recitals hereto.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as
amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Prospectus Date”
shall mean the date of the final prospectus filed with the Commission and relating to the Company’s initial public offering.

 

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“Registrable
Security” shall mean (a) the Founder Shares, (b) the Private Placement Shares and (c) any outstanding Ordinary
Shares or any other equity security (including Ordinary Shares issued or issuable upon the exercise of any other equity
security) of the Company held by a Holder as of the date of this Agreement and (d) any equity securities (including the
Ordinary Shares issued or issuable upon the exercise of any such equity security) of the Company issuable upon conversion of
any working capital loans in an amount up to $1,000,000 made to the Company by a Holder, and (e) any other equity security of
the Company issued or issuable with respect to any such Ordinary Shares by way of a stock dividend or stock split or in
connection with a combination of shares, recapitalization, merger, consolidation or reorganization; provided, however,
that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (A) a
Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and
such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement;
(B) such securities shall have been otherwise transferred, new certificates for such securities not bearing a legend
restricting further transfer shall have been delivered by the Company and subsequent public distribution of such securities
shall not require registration under the Securities Act; (C) such securities shall have ceased to be outstanding; or (D) such
securities have been sold to, or through, a broker, dealer or underwriter in a public distribution or other public securities
transaction.

 

“Registration”
shall mean a registration effected by preparing and filing a registration statement or similar document in compliance with the
requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement
becoming effective.

 

“Registration Expenses”
shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:

 

(A) all registration and filing fees (including
fees with respect to filings required to be made with the Financial Industry Regulatory Authority) and any securities exchange
on which the Ordinary Shares are then listed;

 

(B) fees and expenses of compliance with
securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters in connection with blue
sky qualifications of Registrable Securities);

 

(C) printing, messenger, telephone and
delivery expenses;

 

(D) reasonable fees and disbursements
of counsel for the Company;

 

(E) reasonable fees and disbursements
of all independent registered public accountants of the Company incurred specifically in connection with such Registration; and

 

(F) reasonable fees and expenses of one
(1) legal counsel selected by the majority-in-interest of the Demanding Holders initiating a Demand Registration to be registered
for offer and sale in the applicable Registration.

 

“Registration Statement”
shall mean any registration statement that covers the Registrable Securities pursuant to the provisions of this Agreement, including
the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such
registration statement, and all exhibits to and all material incorporated by reference in such registration statement.

 

“Requesting Holder”
shall have the meaning given in subsection 2.1.1.

 

“Securities Act”
shall mean the Securities Act of 1933, as amended from time to time.

 

“Sponsor” shall
have the meaning given in the Recitals hereto.

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part
of such dealer’s market-making activities.

 

“Underwritten Registration”
or “Underwritten Offering” shall mean a Registration in which securities of the Company are sold to an
Underwriter in a firm commitment underwriting for distribution to the public.

 

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ARTICLE II

REGISTRATIONS

 

2.1.         Demand Registration.

 

2.1.1        Request
for Registration. Subject to the provisions of subsection 2.1.4 and Section 2.4 hereof, at any time and from
time to time on or after 180 days after the Prospectus Date, the Holders of at least fifty per cent (50%) of the then-outstanding
number of Registrable Securities (the “Demanding Holders”) may make a written demand for Registration
of at least twenty five percent (25%) of the then-outstanding number of Registrable Securities, which written demand shall describe
the amount and type of securities to be included in such Registration and the intended method(s) of distribution thereof (such
written demand a “Demand Registration”). The Company shall, within ten (10) days of the Company’s
receipt of the Demand Registration, notify, in writing, all other Holders of Registrable Securities of such demand, and each Holder
of Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities in a
Registration pursuant to a Demand Registration (each such Holder that includes all or a portion of such Holder’s Registrable
Securities in such Registration, a “Requesting Holder”) shall so notify the Company, in writing, within
five (5) days after the receipt by the Holder of the notice from the Company. Upon receipt by the Company of any such written
notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall be entitled to have their Registrable
Securities included in a Registration pursuant to a Demand Registration and the Company shall effect, as soon thereafter as practicable,
but not more than forty five (45) days immediately after the Company’s receipt of the Demand Registration, the Registration
of all Registrable Securities requested by the Demanding Holders and Requesting Holders pursuant such the Demand Registration.
Under no circumstances shall the Company be obligated to effect more than an aggregate of three (3) Registrations pursuant to
a Demand Registration under this subsection 2.1.1 with respect to any or all Registrable Securities; provided, however,
that a Registration shall not be counted for such purposes unless a Form S-1 or any similar long-form registration statement that
may be available at such time (“Form S-1”) has become effective and all of the Registrable Securities
requested by the Requesting Holders to be registered on behalf of the Requesting Holders in such Form S-1 Registration have been
sold, in accordance with Section 3.1 of this Agreement.

 

2.1.2        Effective Registration. Notwithstanding
the provisions of subsection 2.1.1 above or any other part of this Agreement, a Registration pursuant to a Demand Registration
shall not count as a Registration unless and until (i) the Registration Statement filed with the Commission with respect to a Registration
pursuant to a Demand Registration has been declared effective by the Commission and (ii) the Company has complied with all of its
obligations under this Agreement with respect thereto; provided, further, that if, after such Registration Statement
has been declared effective, an offering of Registrable Securities in a Registration pursuant to a Demand Registration is subsequently
interfered with by any stop order or injunction of the Commission, federal or state court or any other governmental agency the
Registration Statement with respect to such Registration shall be deemed not to have been declared effective, unless and until,
(i) such stop order or injunction is removed, rescinded or otherwise terminated, and (ii) a majority-in-interest of the Demanding
Holders initiating such Demand Registration thereafter affirmatively elect to continue with such Registration and accordingly notify
the Company in writing, but in no event later than five (5) days, of such election; provided, further, that the Company
shall not be obligated or required to file another Registration Statement until the Registration Statement that has been previously
filed with respect to a Registration pursuant to a Demand Registration becomes effective or is subsequently terminated.

 

2.1.3       Underwritten Offering. Subject
to the provisions of subsection 2.1.4 and Section 2.4 hereof, if a majority-in-interest of the Demanding Holders
so advise the Company as part of their Demand Registration that the offering of the Registrable Securities pursuant to such Demand
Registration shall be in the form of an Underwritten Offering, then the right of such Demanding Holder or Requesting Holder (if
any) to include its Registrable Securities in such Registration shall be conditioned upon such Holder’s participation in
such Underwritten Offering and the inclusion of such Holder’s Registrable Securities in such Underwritten Offering to the
extent provided herein. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering
under this subsection 2.1.3 shall enter into an underwriting agreement in customary form with the Underwriter(s) selected
for such Underwritten Offering by the majority-in-interest of the Demanding Holders initiating the Demand Registration.

 

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2.1.4        Reduction
of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Registration pursuant to a Demand
Registration, in good faith, advises the Company, the Demanding Holders and the Requesting Holders (if any) in writing that the
dollar amount or number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell,
taken together with all other Ordinary Shares or other equity securities that the Company desires to sell and the Ordinary Shares,
if any, as to which a Registration has been requested pursuant to separate written contractual piggy-back registration rights
held by any other shareholders who desire to sell, exceeds the maximum dollar amount or maximum number of equity securities that
can be sold in the Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution
method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable,
the “Maximum Number of Securities”), then the Company shall include in such Underwritten Offering, as
follows: (i) first, the Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based on
the number of Registrable Securities that each Demanding Holder and Requesting Holder (if any) has requested be included in such
Underwritten Registration and the aggregate number of Registrable Securities that the Demanding Holders and Requesting Holders
have requested be included in such Underwritten Registration (such proportion is referred to herein as “Pro Rata”))
that can be sold without exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clause (i), the Registrable Securities of Holders exercising their rights to register
their Registrable Securities pursuant to subsection 2.2.1 hereof, without exceeding the Maximum Number of Securities; and
(iii) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii),
the Ordinary Shares or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum
Number of Securities; and (iv) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clauses (i), (ii) and (iii), the Ordinary Shares or other equity securities of other persons or entities that the Company is obligated
to register in a Registration pursuant to separate written contractual arrangements with such persons and that can be sold without
exceeding the Maximum Number of Securities.

 

2.1.5        Demand Registration Withdrawal.
A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest of the Requesting Holders
(if any), pursuant to a Registration under subsection 2.1.1 shall have the right to withdraw from a Registration pursuant
to such Demand Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters
(if any) of their intention to withdraw from such Registration prior to the effectiveness of the Registration Statement filed with
the Commission with respect to the Registration of their Registrable Securities pursuant to such Demand Registration. Notwithstanding
anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection
with a Registration pursuant to a Demand Registration prior to its withdrawal under this subsection 2.1.5.

 

2.2.         Piggyback Registration.

 

2.2.1        Piggyback
Rights. If, at any time on or after the date the Company consummates a Business Combination, the Company proposes to file
a Registration Statement under the Securities Act with respect to an offering of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into equity securities, for its own account or for the account of shareholders
of the Company (or by the Company and by the shareholders of the Company including, without limitation, pursuant to Section
2.1 hereof), other than a Registration Statement (i) filed in connection with any employee stock option or other benefit plan,
(ii) for an exchange offer or offering of securities solely to the Company’s existing shareholders, (iii) for an offering
of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall
give written notice of such proposed filing to all of the Holders of Registrable Securities as soon as practicable but not less
than ten (10) days before the anticipated filing date of such Registration Statement, which notice shall (A) describe the amount
and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing
Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity
to register the sale of such number of Registrable Securities as such Holders may request in writing within five (5) days after
receipt of such written notice (such Registration a “Piggyback Registration”). The Company shall, in
good faith, cause such Registrable Securities to be included in such Piggyback Registration and shall use its best efforts to
cause the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested
by the Holders pursuant to this subsection 2.2.1 to be included in a Piggyback Registration on the same terms and conditions
as any similar securities of the Company included in such Registration and to permit the sale or other disposition of such Registrable
Securities in accordance with the intended method(s) of distribution thereof. All such Holders proposing to distribute their Registrable
Securities through an Underwritten Offering under this subsection 2.2.1 shall enter into an underwriting agreement in customary
form with the Underwriter(s) selected for such Underwritten Offering by the Company.

 

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2.2.2        Reduction of Piggyback Registration.
If the managing Underwriter or Underwriters in an Underwritten Registration that is to be a Piggyback Registration, in good faith,
advises the Company and the Holders of Registrable Securities participating in the Piggyback Registration in writing that the dollar
amount or number of the Ordinary Shares that the Company desires to sell, taken together with (i) the Ordinary Shares, if any,
as to which Registration has been demanded pursuant to separate written contractual arrangements with persons or entities other
than the Holders of Registrable Securities hereunder (ii) the Registrable Securities as to which registration has been requested
pursuant Section 2.2 hereof, and (iii) the Ordinary Shares, if any, as to which Registration has been requested pursuant
to separate written contractual piggy-back registration rights of other shareholders of the Company, exceeds the Maximum Number
of Securities, then:

 

(a)          If the Registration is undertaken
for the Company’s account, the Company shall include in any such Registration (A) first, the Ordinary Shares or other equity
securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; (B) second,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities
of Holders exercising their rights to register their Registrable Securities pursuant to subsection 2.2.1 hereof, Pro Rata,
which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clauses (A) and (B), the Ordinary Shares, if any, as to which Registration has been requested
pursuant to written contractual piggy-back registration rights of other shareholders of the Company, which can be sold without
exceeding the Maximum Number of Securities;

 

(b)          If the Registration is pursuant to
a request by persons or entities other than the Holders of Registrable Securities, then the Company shall include in any such Registration
(A) first, the Ordinary Shares or other equity securities, if any, of such requesting persons or entities, other than the Holders
of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that
the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising
their rights to register their Registrable Securities pursuant to subsection 2.2.1, pro rata based on the number of Registrable
Securities that each Holder has requested be included in such Underwritten Registration and the aggregate number of Registrable
Securities that the Holders have requested to be included in such Underwritten Registration, which can be sold without exceeding
the Maximum Number of Securities; (C) third, to the extent that the Maximum Number of Securities has not been reached under the
foregoing clauses (A) and (B), the Ordinary Shares or other equity securities that the Company desires to sell, which can be sold
without exceeding the Maximum Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not
been reached under the foregoing clauses (A), (B) and (C), the Ordinary Shares or other equity securities for the account of other
persons or entities that the Company is obligated to register pursuant to separate written contractual arrangements with such persons
or entities, which can be sold without exceeding the Maximum Number of Securities.

 

2.2.3        Piggyback
Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration
for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his,
her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the Registration Statement filed
with the Commission with respect to such Piggyback Registration. The Company (whether on its own good faith determination or as
the result of a request for withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration
Statement filed with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such
Registration Statement. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration
Expenses incurred in connection with the Piggyback Registration prior to its withdrawal under this subsection 2.2.3.

 

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2.2.4        Unlimited
Piggyback Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.2 hereof shall
not be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof.

 

2.3          Registrations on Form S-3.
The Holders of Registrable Securities may at any time, and from time to time, request in writing that the Company, pursuant to
Rule 415 under the Securities Act (or any successor rule promulgated thereafter by the Commission), register the resale of any
or all of their Registrable Securities on Form S-3 that may be available at such time (“Form S-3”); provided,
however, that the Company shall not be obligated to effect such request through an Underwritten Offering. Within five (5)
days of the Company’s receipt of a written request from a Holder or Holders of Registrable Securities for a Registration
on Form S-3, the Company shall promptly give written notice of the proposed Registration on Form S-3 to all other Holders of Registrable
Securities, and each Holder of Registrable Securities who thereafter wishes to include all or a portion of such Holder’s
Registrable Securities in such Registration on Form S-3 shall so notify the Company, in writing, within ten (10) days after the
receipt by the Holder of the notice from the Company. As soon as practicable thereafter, but not more than twelve (12) days after
the Company’s initial receipt of such written request for a Registration on Form S-3, the Company shall register all or such
portion of such Holder’s Registrable Securities as are specified in such written request, together with all or such portion
of Registrable Securities of any other Holder or Holders joining in such request as are specified in the written notification given
by such Holder or Holders; provided, however, that the Company shall not be obligated to effect any such Registration
pursuant to Section 2.3 hereof if (i) a Form S-3 is not available for such offering; or (ii) the Holders of Registrable
Securities, together with the Holders of any other equity securities of the Company entitled to inclusion in such Registration,
propose to sell the Registrable Securities and such other equity securities (if any) at any aggregate price to the public of less
than $10,000,000.

 

2.4.         Restrictions
on Registration Rights. If (A) during the period starting with the date sixty (60) days prior to the Company’s good
faith estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of,
a Company initiated Registration and provided that the Company has delivered written notice to the Holders prior to receipt of
a Demand Registration pursuant to subsection 2.1.1 and it continues to actively employ, in good faith, all reasonable efforts
to cause the applicable Registration Statement to become effective; (B) the Holders have requested an Underwritten Registration
and the Company and the Holders are unable to obtain the commitment of underwriters to firmly underwrite the offer; or (C) in
the good faith judgment of the Board such Registration would be seriously detrimental to the Company and the Board concludes as
a result that it is essential to defer the filing of such Registration Statement at such time, then in each case the Company shall
furnish to such Holders a certificate signed by the Chairman of the Board stating that in the good faith judgment of the Board
it would be seriously detrimental to the Company for such Registration Statement to be filed in the near future and that it is
therefore essential to defer the filing of such Registration Statement. In such event, the Company shall have the right to defer
such filing for a period of not more than thirty (30) days; provided, however, that the Company shall not defer
its obligation in this manner more than once in any 12-month period. Notwithstanding anything to the contrary contained in this
Agreement, no Registration shall be effected or permitted and no Registration Statement shall become effective, with respect to
any Registrable Securities held by any Holder, until after the expiration of the applicable Lockup Periods.

 

ARTICLE III

COMPANY PROCEDURES

 

3.1.         General
Procedures. If at any time on or after the date the Company consummates a Business Combination the Company is required to
effect the Registration of Registrable Securities, the Company shall use its best efforts to effect such Registration to permit
the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the
Company shall, as expeditiously as possible;

 

3.1.1        prepare and file with the Commission
as soon as practicable a Registration Statement with respect to such Registrable Securities and use its reasonable best efforts
to cause such Registration Statement to become effective and remain effective until all Registrable Securities covered by such
Registration Statement have been sold;

 

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3.1.2        prepare and file with the Commission
such amendments and post-effective amendments to the Registration Statement, and such supplements to the Prospectus, as may be
requested by the Holders or any Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions
applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the
Registration Statement effective until all Registrable Securities covered by such Registration Statement are sold in accordance
with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

3.1.3        prior to filing a Registration Statement
or prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters, if any, and the Holders of Registrable
Securities included in such Registration, and such Holders’ legal counsel, copies of such Registration Statement as proposed
to be filed, each amendment and supplement to such Registration Statement (in each case including all exhibits thereto and documents
incorporated by reference therein), the Prospectus included in such Registration Statement (including each preliminary Prospectus),
and such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration or the legal
counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities owned by such Holders;

 

3.1.4        prior to any public offering of
Registrable Securities, use its best efforts to (i) register or qualify the Registrable Securities covered by the Registration
Statement under such securities or “blue sky” laws of such jurisdictions in the United States as the Holders of Registrable
Securities included in such Registration Statement (in light of their intended plan of distribution) may request and (ii) take
such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered with or approved
by such other governmental authorities as may be necessary by virtue of the business and operations of the Company and do any and
all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included in such Registration
Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however,
that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be
required to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction
where it is not then otherwise so subject;

 

3.1.5        cause all such Registrable Securities
to be listed on each securities exchange or automated quotation system on which similar securities issued by the Company are then
listed;

 

3.1.6        provide a transfer agent and registrar
for all such Registrable Securities no later than the effective date of such Registration Statement;

 

3.1.7        advise each seller of such Registrable
Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any stop order by the Commission
suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding for such purpose
and promptly use its reasonable best efforts to prevent the issuance of any stop order or to obtain its withdrawal if such stop
order should be issued;

 

3.1.8        at least five (5) days prior to
the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration Statement or Prospectus
or any document that is to be incorporated by reference into such Registration Statement or Prospectus, furnish a copy thereof
to each seller of such Registrable Securities or its counsel;

 

3.1.9        notify the Holders at any time when
a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act, of the happening of
any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes a Misstatement,
and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

3.1.10      permit a representative of the
Holders, the Underwriters, if any, and any attorney or accountant retained by such Holders or Underwriter to participate, at each
such person’s own expense, in the preparation of the Registration Statement, and cause the Company’s officers, directors
and employees to supply all information reasonably requested by any such representative, Underwriter, attorney or accountant in
connection with the Registration; provided, however, that such representatives or Underwriters enter into a confidentiality
agreement, in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information;

 

    	8

    	 

    

 

3.1.11      obtain a “cold comfort”
letter from the Company’s independent registered public accountants in the event of an Underwritten Registration, in customary
form and covering such matters of the type customarily covered by “cold comfort” letters as the managing Underwriter
may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating Holders;

 

3.1.12      on the date the Registrable Securities
are delivered for sale pursuant to such Registration, obtain an opinion, dated such date, of counsel representing the Company for
the purposes of such Registration, addressed to the Holders, the placement agent or sales agent, if any, and the Underwriters,
if any, covering such legal matters with respect to the Registration in respect of which such opinion is being given as the Holders,
placement agent, sales agent, or Underwriter may reasonably request and as are customarily included in such opinions, and reasonably
satisfactory to a majority in interest of the participating Holders;

 

3.1.13      in the event of any Underwritten
Offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing
Underwriter of such offering;

 

3.1.14      make available to its security
holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning
with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement which
satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;

 

3.1.15      if the Registration involves the
Registration of Registrable Securities involving gross proceeds in excess of $50,000,000, use its reasonable efforts to make available
senior executives of the Company to participate in customary “road show” presentations that may be reasonably requested
by the Underwriter in any Underwritten Offering; and

 

3.1.16      otherwise, in good faith, cooperate
reasonably with, and take such customary actions as may reasonably be requested by the Holders, in connection with such Registration.

 

3.2.          Registration Expenses. The
Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the Holders shall
bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’ commissions and
discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration Expenses,”
all reasonable fees and expenses of any legal counsel representing the Holders.

 

3.3.          Requirements
for Participation in Underwritten Offerings. No person may participate in any Underwritten Offering for equity securities
of the Company pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees to sell such person’s
securities on the basis provided in any underwriting arrangements approved by the Company and (ii) completes and executes all
customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents
as may be reasonably required under the terms of such underwriting arrangements.

 

3.4.          Suspension of Sales; Adverse Disclosure.
Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the
Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or amended
Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement
or amendment as soon as practicable after the time of such notice), or until it is advised in writing by the Company that the use
of the Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in respect
of any Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such
Registration Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s control,
the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of,
or suspend use of, such Registration Statement for the shortest period of time, but in no event more than thirty (30) days, determined
in good faith by the Company to be necessary for such purpose. In the event the Company exercises its rights under the preceding
sentence, the Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus
relating to any Registration in connection with any sale or offer to sell Registrable Securities. The Company shall immediately
notify the Holders of the expiration of any period during which it exercised its rights under this Section 3.4.

 

    	9

    	 

    

 

3.5.          Reporting Obligations. As
long as any Holder shall own Registrable Securities, the Company, at all times while it shall be reporting under the Exchange Act,
covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace period) all reports required
to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act and to promptly
furnish the Holders with true and complete copies of all such filings. The Company further covenants that it shall take such further
action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell Ordinary
Shares held by such Holder without registration under the Securities Act within the limitation of the exemptions provided by Rule
144 promulgated under the Securities Act, including providing any legal opinions. Upon the request of any Holder, the Company shall
deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.

 

ARTICLE IV

INDEMNIFICATION AND CONTRIBUTION

 

4.1.          Indemnification.

 

4.1.1        The Company agrees to indemnify,
to the extent permitted by law, each Holder of Registrable Securities, its officers and directors and each person who controls
such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses (including
attorneys’ fees) caused by any untrue or alleged untrue statement of material fact contained in any Registration Statement,
Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material
fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same are caused
by or contained in any information furnished in writing to the Company by such Holder expressly for use therein. The Company shall
indemnify the Underwriters, their officers and directors and each person who controls such Underwriters (within the meaning of
the Securities Act) to the same extent as provided in the foregoing with respect to the indemnification of the Holder.

 

4.1.2        In connection with any Registration
Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish to the Company in writing such
information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus
and, to the extent permitted by law, shall indemnify the Company, its directors and officers and agents and each person who controls
the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses (including
without limitation reasonable attorneys’ fees) resulting from any untrue statement of material fact contained in the Registration
Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission of a material fact
required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue
statement or omission is contained in any information or affidavit so furnished in writing by such Holder expressly for use therein;
provided, however, that the obligation to indemnify shall be several, not joint and several, among such Holders of
Registrable Securities, and the liability of each such Holder of Registrable Securities shall be in proportion to and limited to
the net proceeds received by such Holder from the sale of Registrable Securities pursuant to such Registration Statement. The Holders
of Registrable Securities shall indemnify the Underwriters, their officers, directors and each person who controls such Underwriters
(within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to indemnification of the
Company.

 

4.1.3        Any person entitled to
indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it
seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to
indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in
such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties
may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel
reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to
any liability for any settlement made by the indemnified party without its consent (but such consent shall not be
unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall
not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party
with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist
between such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party
shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which
cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to
the terms of such settlement) or which settlement does not include as an unconditional term thereof the giving by the
claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.

 

    	10

    	 

    

 

4.1.4        The indemnification provided for
under this Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified
party or any officer, director or controlling person of such indemnified party and shall survive the transfer of securities. The
Company and each Holder of Registrable Securities participating in an offering also agrees to make such provisions as are reasonably
requested by any indemnified party for contribution to such party in the event the Company’s or such Holder’s indemnification
is unavailable for any reason.

 

4.1.5        If the indemnification provided
under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless an indemnified party
in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party, in lieu of
indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of such
losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying
party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the indemnifying
party and indemnified party shall be determined by reference to, among other things, whether any action in question, including
any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by,
or relates to information supplied by, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified
party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action; provided,
however, that the liability of any Holder under this subsection 4.1.5 shall be limited to the amount of the net proceeds
received by such Holder in such offering giving rise to such liability. The amount paid or payable by a party as a result of the
losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in subsections
4.1.1, 4.1.2 and 4.1.3above, any legal or other fees, charges or expenses reasonably incurred by such party in
connection with any investigation or proceeding. The parties hereto agree that it would not be just and equitable if contribution
pursuant to this subsection 4.1.5 were determined by pro rata allocation or by any other method of allocation, which does
not take account of the equitable considerations referred to in this subsection 4.1.5. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this subsection
4.1.5 from any person who was not guilty of such fraudulent misrepresentation.

 

ARTICLE V

MISCELLANEOUS

 

5.1.          Notices. Any notice or communication
under this Agreement must be in writing and given by (i) deposit in the United States mail or Royal Mail, as applicable, addressed
to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person
or by courier service providing evidence of delivery, or (iii) transmission by hand delivery, telecopy, telegram or facsimile.
Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently
given, served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed
and, in the case of notices delivered by courier service, hand delivery, telecopy, telegram or facsimile, at such time as it is
delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused by
the addressee upon presentation. Any notice or communication under this Agreement must be addressed to the addressee at: c/o Mark
D. Klein, 590 Madison Avenue, New York, New York 10022. Any party may change its address for notice at any time and from time to
time by written notice to the other parties hereto, and such change of address shall become effective thirty (30) days after delivery
of such notice as provided in this Section 5.1.

 

    	11

    	 

    

 

5.2.          Assignment; No Third Party Beneficiaries.

 

5.2.1        This Agreement and the rights, duties
and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in part.

 

5.2.2        This Agreement and the rights, duties
and obligations of the Holders of Registrable Securities hereunder may be assigned or delegated by such Holder of Registrable Securities
in conjunction with and to the extent of any transfer of Registrable Securities by any such Holder to a Permitted Transferee.

 

5.2.3        This Agreement and the provisions
hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and the permitted assigns
of the Holders.

 

5.2.4        This Agreement shall not confer
any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this Agreement and Section
5.2 hereof.

 

5.2.5        No assignment by any party hereto
of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company unless and until the
Company shall have received (i) written notice of such assignment as provided in Section 5.1 hereof and (ii) the written
agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement
(which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made other than
as provided in this Section 5.2 shall be null and void.

 

5.3.          Counterparts.
This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which shall be deemed
an original, and all of which together shall constitute the same instrument, but only one of which need be produced.

 

5.4.          Governing
Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY
AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE BRITISH VIRGIN ISLANDS AS APPLIED TO AGREEMENTS
AMONG RESIDENTS THEREOF ENTERED INTO AND TO BE PERFORMED ENTIRELY WITHIN THE BRITISH VIRGIN ISLANDS, WITHOUT REGARD TO THE CONFLICT
OF LAW PROVISIONS OF SUCH JURISDICTION.

 

5.5.         Amendments
and Modifications. Upon the written consent of the Company and the Holders of at least sixty-five percent (65%) of the Registrable
Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement
may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however,
that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity
as a holder of the shares of capital stock of the Company, in a manner that is materially different from the other Holders (in
such capacity) shall require the consent of the Holder so affected. No course of dealing between any Holder or the Company and
any other party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies under
this Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise
of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights
or remedies hereunder or thereunder by such party.

 

5.6.          Other
Registration Rights. The Company represents and warrants that no person, other than a Holder of Registrable Securities, has
any right to require the Company to register any securities of the Company for sale or to include such securities of the Company
in any Registration filed by the Company for the sale of securities for its own account or for the account of any other person.
Further, the Company represents and warrants that this Agreement supersedes any other registration rights agreement or agreement
with similar terms and conditions and in the event of a conflict between any such agreement or agreements and this Agreement,
the terms of this Agreement shall prevail.

 

5.7.          Term. This Agreement shall
terminate upon the earlier of (i) the tenth anniversary of the date of this Agreement or (ii) the date as of which (A) all of the
Registrable Securities have been sold pursuant to a Registration Statement (but in no event prior to the applicable period referred
to in Section 4(3) of the Securities Act and Rule 174 thereunder) or (B) the Holders of all Registrable Securities are permitted
to sell the Registrable Securities under Rule 144 (or any similar provision) under the Securities Act without limitation on the
amount of securities sold or the manner of sale. The provisions of Section 3.5 and Article IV shall survive
any termination.

 

[SIGNATURE PAGES FOLLOW]

 

    	12

    	 

    

 

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

 

	 	COMPANY:
	 	 	 	 
	 	ATLANTIC ALLIANCE PARTNERSHIP CORP.,

 a company formed under the laws of the British Virgin Islands
	 	 	 	 
	 	By:	 	 
	 	 	Name: Jonathan Goodwin

 Title: President and Chief Executive Officer
	 	 	 	 
	 	HOLDERS:	 
	 	 	 	 
	 	AAP SPONSOR (PTC) CORP, 

a company formed under the laws of the British Virgin Islands
	 	 	 	 
	 	 	By:	 
	 	 	Name: Jonathan Mitchell 
	 	 	Title: Director

 

[Signature Page to Registration Rights
Agreement]Exhibit 10.6

 

AMENDED
AND RESTATED PRIVATE PLACEMENT SHARES PURCHASE AGREEMENT

 

This
Amended and Restated Private Placement Shares Purchase Agreement (this “Agreement”), effective as of April 8, 2015,
is made and entered into by and between Atlantic Alliance Partnership Corp., a business company incorporated in the British Virgin
Islands with limited liability (the “Company”), and AAP Sponsor (PTC) Corp, a business company incorporated in the
British Virgin Islands with limited liability (the “Buyer”).

 

RECITALS:

 

WHEREAS,
on February 23, 2015, the Buyer executed a Private Placement Shares Purchase Agreement with the Company, pursuant to which
it agreed to purchase 687,500 ordinary shares, no par value, of the Company (the “Prior Agreement”); and 

 

WHEREAS,
the Buyer and the Company now wish to amend and restate the Prior Agreement as set forth herein; and

 

WHEREAS,
the Buyer now wishes to purchase from the Company up to 858,125 ordinary shares, no par value, of the Company; and

 

WHEREAS,
the Buyer wishes to purchase the ordinary shares from the Company and the Company wishes to sell the ordinary shares to the
Buyer on the terms and subject to the conditions set forth in this Agreement.

 

AGREEMENT:

 

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

 

ARTICLE I

DEFINITIONS

 

The
terms defined in this Article I shall have for all purposes of this Agreement the respective meanings set forth below:

 

 “Additional
Purchase Price” shall have the meaning set forth in Section 2.2(b) of this Agreement.

 

“Additional
Shares” shall mean up to 95,625 Ordinary Shares that the Buyer shall purchase from the Company in the event that the Over-Allotment
Option is exercised.

 

“Agreement”
shall have the meaning set forth in the preamble to this Agreement.

 

“Buyer”
shall have the meaning set forth in the preamble to this Agreement.

 

“Closing
Date” shall have the meaning set forth in Section 2.3 of this Agreement.

  

“Company”
shall have the meaning set forth in the preamble to this Agreement.

 

“Consent”
means any consent, approval, notification, waiver, or other similar action that is necessary or convenient.

 

“Governmental
Body” shall mean any legislature, agency, bureau, branch, department, division, commission, court, tribunal or other similar
recognized organization or body of any federal, state, county, municipal, local or foreign government or other similar recognized
organization or body exercising similar powers or authority.

 

“Initial
Closing Date” shall have the meaning set forth in Section 2.3 of this Agreement.

 

    	 

    	 

    

 

“IPO”
shall have the meaning set forth in Section 2.3 of this Agreement.

 

“Law”
shall mean any law (statutory, common or otherwise), constitution, ordinance, rule, regulation, executive order or other similar
authority enacted, adopted, promulgated or applied by any Governmental Body.

 

“Lien”
shall mean a mortgage, deed of trust, pledge, hypothecation, assignment, encumbrance, charge, restriction, lien (statutory or
otherwise, including, without limitation, any lien for taxes), security interest, preference, participation interest, priority
or security agreement or preferential arrangement of any kind or nature whatsoever, including, without limitation, any conditional
sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing
and the filing of any document under the law of any applicable jurisdiction to evidence any of the foregoing, other than (i) statutory,
mechanics’ or other Liens incurred in the Company’s ordinary course of business or (ii) Liens for taxes incurred
but not yet due.

 

“Order”
shall mean an order, ruling, decision, award, judgment, injunction or other similar determination or finding by, before or under
the supervision of any Governmental Body or arbitrator.

 

“Ordinary
Shares” shall mean the ordinary shares, no par value, of the Company.

 

“Over-Allotment
Option” shall mean the underwriters’ 45 day over-allotment option to purchase up to 1,125,000 additional Ordinary
Shares of the Company in connection with the IPO.

 

“Permit”
shall mean a permit, license, certificate, waiver, notice or similar authorization.

 

“Primary
Shares” shall mean 762,500 Ordinary Shares that the Buyer shall purchase from the Company on the terms and subject to the
conditions set forth herein.

 

“Purchase
Price” shall have the meaning set forth in Section 2.2(a) of this Agreement.

 

“SEC”
shall mean the United States Securities and Exchange Commission.

 

“Securities
Act” shall mean the United States Securities Act of 1933, as amended, or any successor federal statute, and the applicable
rules and regulations promulgated and in effect from time to time thereunder.

 

“Shares”
shall mean the total number of Ordinary Shares to be purchased by Buyer under this Agreement, including the Primary Shares and
the Additional Shares.

 

“Trust
Account” shall have the meaning set forth in Section 2.2(a) of this Agreement.

 

ARTICLE II

PURCHASE
OF THE SHARES

 

Section 2.1            Purchase
and Sale of the Shares.  Subject to the terms and conditions hereof and in reliance upon the representations and warranties
of the parties contained or incorporated by reference herein, on each applicable Closing Date, the Company shall sell and deliver
to the Buyer, and the Buyer shall purchase from the Company, the Primary Shares, and/or the Additional Shares, as applicable,
in consideration of the payment of the Purchase Price noted herein. On each Closing Date, or within a reasonable time after the
applicable Closing Date, but in no event later than thirty (30) days after such Closing Date, the Company shall deliver to the
Buyer the certificates representing the Shares purchased.

 

Section 2.2            Purchase
Price.  (a)            As payment in full for the Primary
Shares being purchased under this Agreement, at least one business day prior to the effective date of the Company’s registration
statement relating to the IPO, the Buyer shall pay $7,625,000 (the “Purchase Price”), by wire transfer of immediately
available funds or by such other method as may be reasonably acceptable to the Company, to Ellenoff Grossman & Schole LLP,
which is hereby irrevocably authorized and directed to deposit such funds one business day prior to the Initial Closing Date to
the trust account which will be established for the benefit of the Company’s public shareholders (the “Trust Account”).
The parties acknowledge that the number of Shares may be adjusted, upward or downward, as mutually agreed upon by the parties,
based on a number of factors including, but not limited to, the size of the IPO and the amount to be held in the Trust Account.

 

    	2

    	 

    

 

(b)            In
the event that the Over-Allotment Option is exercised in full or in part, the Buyer shall purchase Additional Shares, in the same
proportion as the amount of the Over-Allotment Option that is exercised, and simultaneously with such purchase of Additional Shares,
as payment in full for the Additional Shares being purchased hereunder, and at least one business day prior to the closing of
all or any portion of the Over-Allotment Option, the Buyer shall pay $10.00 per Additional Share, up to an aggregate amount of
$956,250 (the “Additional Purchase Price”), by wire transfer of immediately available funds or by such other method
as may be reasonably acceptable to the Company, to Ellenoff Grossman & Schole LLP, which is hereby irrevocably authorized
and directed to deposit such funds one business day prior to the Option Closing Date to the Trust Account.

 

Section 2.3            Closings. 
The closing of the purchase and sale of the Primary Shares shall take place one business day prior to the closing of the Company’s
initial public offering (“IPO”) of 7,500,000 Ordinary Shares (the “Initial Closing Date”). The closing
of the purchase and sale of the Additional Shares, if applicable, shall take place one business day prior to the closing of all
or any portion of the Over-Allotment Option (the “Option Closing Date” and together with the Initial Closing Date,
each, a “Closing Date”). The closing of the purchase and sale of each of the Primary Shares and the Additional Shares
shall take place at the offices of Ellenoff Grossman & Schole LLP, 1345 Avenue of the Americas, New York, New York 10105,
or such other place as may be agreed upon by the parties hereto.

  

Section 2.4            Further
Agreements. 

 

(a)            Transaction
Documents.  The parties hereto shall execute and deliver such additional documents and take such additional actions as
any party reasonably may deem to be practical and necessary in order to consummate the transactions contemplated by this Agreement.

 

(b)            Lockup. The Buyer acknowledges and agrees that the Shares shall not be transferable, saleable or assignable until 30 days
after the consummation of an initial merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
business combination, involving the Company and one or more businesses.

 

(c)            Waiver
of Liquidation Distributions. In connection with the Shares purchased pursuant to this Agreement, the Buyer hereby waives
any and all right, title, interest or claim of any kind in or to any distributions from the Trust Account.

 

Section 2.5            Legend. 
Each certificate evidencing the Shares and each certificate issued in exchange for or upon the transfer of any Shares shall be
stamped or otherwise imprinted with a legend in substantially the following form:

 

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

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER SET FORTH IN THE LETTER AGREEMENT
BY AND BETWEEN THE COMPANY AND THE BUYER.  COPIES OF SUCH AGREEMENT MAY BE OBTAINED FROM THE COMPANY AT THE COMPANY’S
PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE.”

 

    	3

    	 

    

 

ARTICLE III

REPRESENTATIONS
AND WARRANTIES OF THE BUYER

 

The
Buyer represents and warrants that the statements contained in this ARTICLE III are correct and complete as of the
date of this Agreement.

 

Section 3.1            Organization
and Good Standing.  The Buyer is a business company duly organized, validly existing, and in good standing under the
laws of the British Virgin Islands.

 

Section 3.2            Power
and Authority; Enforceability.  This Agreement constitutes the legal, valid, and binding obligation of the Buyer, enforceable
against the Buyer in accordance with its terms.  The Buyer has full entity power and authority to execute and deliver this
Agreement and to perform its obligations hereunder.  The Buyer has taken all actions necessary to authorize the execution
and delivery of this Agreement, the performance of its obligations hereunder and the consummation of the transactions contemplated
hereby.  This Agreement has been duly authorized, executed and delivered by, and is enforceable against, the Buyer.

 

Section 3.3            Investment
Representations.

 

(a)            The
Buyer is an “accredited investor” as defined in Rule 501 of Regulation D under the Securities Act.

 

(b)            The
Buyer has received, has thoroughly read, is familiar with and understands the contents of this Agreement.

 

(c)            The
Buyer hereby acknowledges that an investment in the Shares involves certain significant risks.  The Buyer acknowledges that
there is a substantial risk that it will lose all or a portion of its investment and that it is financially capable of bearing
the risk of such investment for an indefinite period of time.  The Buyer has no need for liquidity in its investment in the
Shares for the foreseeable future and is able to bear the risk of that investment for an indefinite period.  The Buyer understands
that there presently is no public market for the Shares and none is anticipated to develop in the foreseeable future.  The
Buyer’s present financial condition is such that the Buyer is under no present or contemplated future need to dispose of
any portion of the Shares subscribed for hereby to satisfy any existing or contemplated undertaking, need or indebtedness. 
The Buyer’s overall commitment to investments which are not readily marketable is not disproportionate to its net worth
and the investment in the Company will not cause such overall commitment to become excessive.

 

(d)            The
Buyer acknowledges that the Shares have not been and will not be registered under the Securities Act, or any state securities
act, and are being sold on the basis of exemptions from registration under the Securities Act and applicable state securities
acts, except those state securities acts that require registration of the Shares thereunder.  Reliance on such exemptions,
where applicable, is predicated in part on the accuracy of the Buyer’s representations and warranties set forth herein. 
The Buyer acknowledges and hereby agrees that the Shares will not be transferable under any circumstances unless the Buyer either
registers the Shares in accordance with federal and state securities laws or finds and complies with an available exemption under
such laws.  Accordingly, the Buyer hereby acknowledges that there can be no assurance that it will be able to liquidate its
investment in the Company.

 

(e)            There
are substantial risk factors pertaining to an investment in the Company.  The Buyer acknowledges that it has read the information
set forth above regarding certain of such risks and is familiar with the nature and scope of all such risks, including, without
limitation, risks arising from the fact that the Company is an entity with limited operating history and financial resources;
and the Buyer is fully able to bear the economic risks of such investment for an indefinite period, and can afford a complete
loss thereof.

 

(f)            The
Buyer has been given the opportunity to (i) ask questions of and receive answers from the Company and its designated representatives
concerning the terms and conditions of the offering, the Company and the business and financial condition of the Company and (ii) obtain
any additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary
to assist the Buyer in evaluating the advisability of the purchase of the Shares and an investment in the Company.  The Buyer
further represents and warrants that, prior to signing this Agreement, it has asked such questions, received such answers and
obtained such information as it has deemed necessary or advisable to evaluate the merits and risks of the purchase of the Shares
and an investment in the Company.  The Buyer is not relying on any oral representation made by any person as to the Company
or its operations, financial condition or prospects.

 

(g)            The
Buyer understands that no federal, state or other governmental authority has made any recommendation, findings or determination
relating to the merits of an investment in the Company.

 

    	4

    	 

    

 

ARTICLE IV

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

Section 4.1            Organization
and Good Standing.  The Company is a business company duly organized, validly existing, and in good standing under the
laws of the British Virgin Islands.

 

Section 4.2            Power
and Authority; Enforceability.  This Agreement constitutes the legal, valid, and binding obligation of the Company, enforceable
against the Company in accordance with its terms.  The Company has full power and authority to execute and deliver this Agreement
and to perform its obligations hereunder.  The Company has taken all actions necessary to authorize the execution and delivery
of this Agreement, the performance of its obligations hereunder, and the consummation of the transactions contemplated hereby. 
This Agreement has been duly authorized, executed, and delivered by, and is enforceable against, the Company.

 

Section 4.3            No
Violation; Necessary Approvals.  Neither the execution and delivery of this Agreement by the Company, nor the consummation
or performance by the Company of any of transactions contemplated hereby, will:  (a) with or without notice or lapse
of time, constitute, create or result in a breach or violation of, default under, loss of benefit or right under or acceleration
of performance of any obligation required under any Law, Order, contract or Permit to which the Company is a party or by which
it is bound or any of its assets are subject, or any provision of the Company’s organizational documents as in effect on
each applicable Closing Date, (b) result in the imposition of any lien, claim or encumbrance upon any assets owned by the
Company; (c) require any Consent under any contract or organizational document to which the Company is a party or by which
it is bound; or (d) require any Permit under any Law or Order other than (i) required filings, if any, with the SEC
and (ii) notifications or other filings with state or federal regulatory agencies after each applicable Closing Date that
are necessary or convenient and do not require approval of the agency as a condition to the validity of the transactions contemplated
hereunder; or (e) trigger any rights of first refusal, preferential purchase or similar rights with respect to any of the
Shares.

 

Section 4.4            Authorization
of the Shares.  The Shares have been duly authorized and, when issued and paid for in accordance with this Agreement,
the Shares will be duly and validly issued, fully paid and non-assessable Ordinary Shares and will be free and clear of all Liens
and claims, other than restrictions on transfer imposed by the Securities Act and applicable state securities laws.

 

ARTICLE V

MISCELLANEOUS

 

Section 5.1            Entire
Agreement; Prior Agreement.  This Agreement, together with the certificates, documents, instruments and writings that
are delivered pursuant hereto, constitutes the entire agreement and understanding of the parties hereto in respect of its subject
matter and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. Upon execution of this
Agreement by all the parties hereto, the Prior Agreement shall have no further force or effect whatsoever.

 

Section 5.2            Successors. 
All of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are binding upon, and inure
to the benefit of and are enforceable by, the parties hereto and their respective successors.

 

Section 5.3            Assignments. 
Except as otherwise provided herein, no party hereto may assign either this Agreement or any of its rights, interests, or obligations
hereunder without the prior written approval of the other party.  Any purported assignment in violation of this Section 5.3
shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee.

 

    	5

    	 

    

 

Section 5.4            Waiver
of Jury Trial.  THE PARTIES HERETO EACH HEREBY AGREE TO WAIVE THE RESPECTIVE RIGHTS TO JURY TRIAL OF ANY DISPUTE BASED
UPON OR ARISING OUT OF THIS AGREEMENT OR ANY OTHER AGREEMENTS RELATING HERETO OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS. 
THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL ACTIONS THAT MAY BE FILED IN ANY COURT AND THAT
RELATE TO THE SUBJECT MATTER OF THE TRANSACTIONS, INCLUDING, CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL
OTHER COMMON LAW AND STATUTORY CLAIMS.  THE PARTIES HERETO EACH ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO
ENTER INTO A BUSINESS RELATIONSHIP AND THAT THEY WILL CONTINUE TO RELY ON THE WAIVER IN THEIR RELATED FUTURE DEALINGS.  EACH
PARTY HERETO FURTHER REPRESENTS AND WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT EACH KNOWINGLY
AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.  NOTWITHSTANDING ANYTHING TO THE
CONTRARY HEREIN, THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED ORALLY OR IN WRITING, AND THE WAIVER WILL
APPLY TO ANY AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING
HERETO.  IN THE EVENT OF AN ACTION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO TRIAL BY A COURT.

 

Section 5.5            Counterparts. 
This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together
will constitute one and the same instrument.

 

Section 5.6            Headings. 
The article and section headings contained in this Agreement are inserted for convenience only and will not affect in any way
the meaning or interpretation of this Agreement.

 

Section 5.7            Governing
Law.  This Agreement, the entire relationship of the parties hereto, and any litigation between the parties (whether
grounded in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant
to the laws of the British Virgin Islands, without giving effect to its choice of laws principles.

 

Section 5.8            Amendments. 
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed
by the parties hereto.

 

Section 5.9            Severability. 
The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect
the validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as applied to
any party hereto or to any circumstance, is adjudged by a Governmental Body, arbitrator, or mediator not to be enforceable in
accordance with its terms, the parties hereto agree that the Governmental Body, arbitrator, or mediator making such determination
will have the power to modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to
delete specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced.

 

Section 5.10           Expenses. 
Except as otherwise expressly provided in this Agreement, each party hereto will bear its own costs and expenses incurred in connection
with the preparation, execution and performance of this Agreement and the consummation of the transactions contemplated hereby,
including all fees and expenses of agents, representatives, financial advisors, legal counsel and accountants.

 

Section 5.11           Construction. 
The parties hereto have participated jointly in the negotiation and drafting of this Agreement.  If an ambiguity or question
of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement. 
Any reference to any federal, state, local, or foreign Law will be deemed also to refer to Law as amended and all rules and
regulations promulgated thereunder, unless the context requires otherwise.  The words “ include, ” “
includes,” and “ including ” will be deemed to be followed by “ without limitation.
”  Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words in
the singular form will be construed to include the plural and vice versa, unless the context otherwise requires.  The words
“ this Agreement, ” “ herein, ” “ hereof, ” “ hereby, ”
“ hereunder, ” and words of similar import refer to this Agreement as a whole and not to any particular subdivision
unless expressly so limited.  The parties hereto intend that each representation, warranty, and covenant contained herein
will have independent significance.  If any party hereto has breached any representation, warranty, or covenant contained
herein in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter
(regardless of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate
the fact that such party hereto is in breach of the first representation, warranty, or covenant.

 

Section 5.12           Waiver. 
No waiver by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional
or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder
or affect in any way any rights arising because of any prior or subsequent occurrence.

 

[Signature
page follows]

 

    	6

    	 

    

 

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

 

	 	COMPANY:
	 	 
	 	ATLANTIC
    ALLIANCE PARTNERSHIP CORP.
	 	 
	 	By:	/s/
    Jonathan Goodwin
	 	Name:
    Jonathan Goodwin
	 	Title:
    President and Chief Executive Officer
	 	 
	 	BUYER:
	 	 
	 	AAP
    SPONSOR CORP
	 	 
	 	By:	/s/
    Jonathan Mitchell
	 	Name:
    Jonathan Mitchell
	 	Title:  Sole
    Director

  

[Private
Placement Shares Purchase Agreement]

  

 

7

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