Document:

Exhibit
4.1

 

Execution
Version

 

WARRANT AGREEMENT

 

THIS
WARRANT AGREEMENT (this “Agreement”), dated as of January 24, 2022, is by and between LatAmGrowth SPAC, a Cayman
Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company, a New York limited
purpose trust company, as warrant agent (in such capacity, the “Warrant Agent,” and also referred to herein
as the “Transfer Agent”).

 

WHEREAS,
the Company is engaged in an initial public offering (the “Offering”) of units of the Company’s equity
securities, each such unit comprised of one Class A ordinary share of the Company, par value $0.0001 per share (“Ordinary
Shares”) and one-half of a redeemable Public Warrant (as defined below) (the “Units”) and, in
connection therewith, has determined to issue and deliver up to 6,500,000 warrants (or up to 7,475,000 warrants if the Over-allotment
Option (as defined below) is exercised in full) to public investors in the Offering (the “Public Warrants”);

 

WHEREAS,
the Company entered into that certain Private Placement Warrants Purchase Agreement with LatAmGrowth Sponsor LLC, a Delaware limited
liability company (the “Sponsor”), pursuant to which the Sponsor agreed to purchase an aggregate of 7,900,000
private placement warrants (or up to 8,680,000 private placement warrants if the Over-allotment Option is exercised in full) at a price
of $1.00 per warrant simultaneously with the closing of the Offering (and the closing of the Over-allotment Option, if applicable), each
bearing the legend set forth in Exhibit A hereto (the “Private Placement Warrants”);

 

WHEREAS,
the Company has entered into that certain Forward Purchase Agreement (the “Forward Purchase Agreement”) with
an affiliate of the Sponsor (the “Forward Purchaser”), pursuant to which the Forward Purchaser has committed,
subject to the approval of its investment committee as well as customary closing conditions, to purchase up to 2,000,000 warrants (the
“Forward Purchase Warrants”) included as part of the forward purchase units, each comprised of one Ordinary
Share and one-half of one Forward Purchase Warrant, to be sold to the Forward Purchaser in a private placement transaction to occur at
or prior to the time of the Company’s initial Business Combination (as defined below), bearing the legend set forth in Exhibit
C hereto;

 

WHEREAS,
in order to finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined below),
the Sponsor or an affiliate of the Sponsor or the Company’s officers and directors may, but are not obligated to, loan to the Company
funds as the Company may require, of which up to $1,500,000 of such loans may be convertible into up to an additional 1,500,000 warrants
at a price of $1.00 per warrant, which will be identical to the Private Placement Warrants (the “Working Capital Warrants,”
and, together with the Private Placement Warrants, the Public Warrants and the Forward Purchase Warrants, the “Warrants”);

 

WHEREAS,
each Warrant entitles the holder thereof to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment as described
herein, and only whole Warrants are exercisable;

 

WHEREAS,
the Company has filed with the U.S. Securities and Exchange Commission (the “Commission”) a registration statement
on Form S-1, File No. 333-261361 (the “Registration Statement”) and prospectus (the “Prospectus”),
for the registration under the Securities Act of 1933, as amended (the “Securities Act”), of the Units, the
Public Warrants and the Ordinary Shares included in the Units;

 

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

 

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

 

     

     

    

 

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

 

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

 

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

 

2.
Warrants.

 

2.1   
Form of Warrant. Each Warrant shall be issued in registered form only, and, if a physical certificate is issued, shall
be in substantially the form of Exhibit B hereto, the provisions of which are incorporated herein and shall be signed by, or bear
the facsimile signature of, the Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer, Secretary or other
principal officer of the Company. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased
to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect
as if he or she had not ceased to be such at the date of issuance. All of the Public Warrants shall initially be represented by one or
more book-entry certificates (each, a “Book-Entry Warrant Certificate”).

 

2.2  
Effect of Countersignature. If a physical certificate is issued, unless and until countersigned by the Warrant Agent pursuant
to this Agreement, a Warrant certificate shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.3
Registration.

 

2.3.1    
Warrant Register. The Warrant Agent shall maintain books (the “Warrant Register”) for the
registration of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant
Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance
with instructions delivered to the Warrant Agent by the Company. All of the Public Warrants shall initially be represented by one or
more Book-Entry Warrant Certificates deposited with The Depository Trust Company (the “Depositary”) and registered
in the name of Cede & Co., a nominee of the Depositary. Ownership of beneficial interests in the Public Warrants shall be shown on,
and the transfer of such ownership shall be effected through, records maintained by (i) the Depositary or its nominee for each Book-Entry
Warrant Certificate, or (ii) institutions that have accounts with the Depositary (each such institution, with respect to a Warrant in
its account, a “Participant”).

 

If the
Depositary subsequently ceases to make its book-entry settlement system available for the Public Warrants, the Company may instruct the
Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible for,
or it is no longer necessary to have the Public Warrants available in, book-entry form, the Warrant Agent shall provide written instructions
to the Depositary to deliver to the Warrant Agent for cancellation each Book-Entry Warrant Certificate, and the Company shall instruct
the Warrant Agent to deliver to the Depositary definitive certificates in physical form evidencing such Warrants (“Definitive
Warrant Certificate”). Such Definitive Warrant Certificate shall be in the form annexed hereto as Exhibit B, with
appropriate insertions, modifications and omissions, as provided above.

 

2.3.2   
Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent
may deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”)
as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing
on a Definitive Warrant Certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof,
and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

     

     

    

 

2.4   
 Detachability of Warrants. The Ordinary Shares and Public Warrants comprising the Units shall begin separate trading on
the 52nd day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday,
on which banks in New York City are generally open for normal business (a “Business Day”), then on the immediately
succeeding Business Day following such date, or earlier (the “Detachment Date”) with the consent of BofA Securities,
Inc. and Banco BTG Pactual S.A. — Cayman Branch as representatives of the several underwriters, but in no event shall the Ordinary
Shares and the Public Warrants comprising the Units be separately traded until (A) the Company has filed a current report on Form 8-K
with the Commission containing an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering,
including the proceeds received by the Company from the exercise by the underwriters of their right to purchase additional Units in the
Offering (the “Over-allotment Option”), if the Over-allotment Option is exercised prior to the filing of the
current report on Form 8-K, and (B) if the Detachment Date is earlier than the 52nd day following the date of the Prospectus,
the Company issues a press release and files with the Commission a current report on Form 8-K announcing when such earlier separate trading
shall begin.

 

2.5  
No Fractional Warrants Other Than as Part of Units. The Company shall not issue fractional Warrants other than as part
of the Units, each of which is comprised of one Ordinary Share and one-half of one whole Public Warrant. If, upon the detachment of Public
Warrants from the Units or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round
down to the nearest whole number of Warrants to be issued to such holder.

 

2.6  
Private Placement Warrants and Working Capital Warrants. The Private Placement Warrants and the Working Capital Warrants
shall be identical to the Public Warrants, except that so long as they are held by the Sponsor or any of its Permitted Transferees (as
defined below), as applicable, the Private Placement Warrants and the Working Capital Warrants: (i) may be exercised for cash or on a
“cashless basis,” pursuant to subsection 3.3.1(c) hereof, (ii) including the Ordinary Shares issuable upon exercise
of the Private Placement Warrants and Working Capital Warrants, may not be transferred, assigned or sold until thirty (30) days after
the completion by the Company of an initial Business Combination, (iii) shall not be redeemable by the Company pursuant to Section
6.1 hereof and (iv) shall only be redeemable by the Company pursuant to Section 6.2 if the Reference Value (as defined below)
is less than $18.00 per share (subject to adjustment in compliance with Section 4 hereof); provided, however, that in the
case of clause (ii), the Private Placement Warrants and the Working Capital Warrants and any Ordinary Shares held by the Sponsor or any
of its Permitted Transferees, as applicable, and issued upon exercise of the Private Placement Warrants and the Working Capital Warrants
may be transferred by the holders thereof:

 

(a)   to
the Company’s officers or directors, any affiliate or family member of any of the Company’s officers or directors, any affiliate
of the Sponsor or to any member(s) of the Sponsor or any of their affiliates;

 

(b)   
in the case of an individual, by gift to a member of such individual’s immediate family or to a trust, the beneficiary of
which is a member of such individual’s immediate family, an affiliate of such individual or to a charitable organization;

 

(c)   in
the case of an individual, by virtue of the laws of descent and distribution upon death of such person;

 

(d)   in
the case of an individual, pursuant to a qualified domestic relations order;

 

(e)   
by private sales or transfers made in connection with any forward purchase agreement or similar arrangement or in connection with the
consummation of an initial Business Combination at prices no greater than the price at which the Ordinary Shares or Warrants were originally
purchased;

 

(f)   
by virtue of the laws of the Cayman Islands or the limited liability company agreement of the Sponsor upon dissolution of the
Sponsor;

 

(g)   in
the event of the Company’s liquidation prior to the consummation of a Business Combination; and

 

     

     

    

 

(h)   
 in the event that, subsequent to the consummation of an initial Business Combination, the Company completes a liquidation, merger,
share exchange, reorganization or other similar transaction which results in all of its shareholders having the right to exchange their
Ordinary Shares for cash, securities or other property; provided, however, that, in the case of clauses (a) through (f), these
transferees (the “Permitted Transferees”) must enter into a written agreement with the Company agreeing to
be bound by the transfer restrictions in this Agreement and the other restrictions contained in the letter agreement, dated as of the
date hereof, by and among the Company, the Sponsor and the Company’s officers and directors.

 

2.7  
Working Capital Warrants. Each of the Working Capital Warrants shall be identical to the Private Placement Warrants.

 

2.8  
Forward Purchase Warrants. Each of the Forward Purchase Warrants shall be identical to the Private Placement Warrants.

 

3.
Terms and Exercise of Warrants.

 

3.1  
Warrant Price. Each whole Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant
and of this Agreement, to purchase from the Company the number of Ordinary Shares stated therein, at the price of $11.50 per share, subject
to the adjustments provided in Section 4 hereof and in the last sentence of this Section 3.1. The term “Warrant Price”
as used in this Agreement shall mean the price per share (including in cash or by payment of Warrants pursuant to a “cashless exercise,”
to the extent permitted hereunder) at which the Ordinary Shares may be purchased at the time a Warrant is exercised. The Company in its
sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than
twenty (20) Business Days, provided, that the Company shall provide at least twenty (20) days prior written notice of such reduction
to Registered Holders of the Warrants and, provided further that any such reduction shall be identical among all of the Warrants.

 

3.2   
Duration of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”)
(A) commencing on the date that is thirty (30) days after the first date on which the Company completes a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business combination, involving the Company and one or more businesses (a “Business
Combination”), and (B) terminating at the earliest to occur of: (x) at 5:00 p.m., New York City time on the date that is
five (5) years after the date on which the Company completes its initial Business Combination, (y) the liquidation of the Company in
accordance with the Company’s Charter (as defined below), if the Company fails to complete a Business Combination, and (z) other
than with respect to the Private Placement Warrants and the Working Capital Warrants then held by the Sponsor or its Permitted Transferee,
as applicable, with respect to a redemption pursuant to Section 6.1 hereof or, if the Reference Value equals or exceeds $18.00
per share (subject to adjustment in compliance with Section 4 hereof), Section 6.2 hereof (each, an Inapplicable Redemption”),
at 5:00 p.m., New York City time on the Redemption Date (as defined below) as provided in Section 6.3 hereof (the “Expiration
Date”); provided, however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable
conditions, as set forth in subsection 3.3.2 below, with respect to an effective registration statement or a valid exemption therefrom
being available. Except with respect to the right to receive the Redemption Price (as defined below) (other than with respect to an Inapplicable
Redemption) in the event of a redemption (as set forth in Section 6 hereof), each outstanding Warrant (other than a Private Placement
Warrant or a Working Capital Warrant then held by the Sponsor or its Permitted Transferees, as applicable, in the event of an Inapplicable
Redemption) not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof
under this Agreement shall cease at 5:00 p.m. New York City time on the Expiration Date. The Company in its sole discretion may extend
the duration of the Warrants by delaying the Expiration Date; provided, that the Company shall provide at least thirty (30) days
prior written notice of any such extension to Registered Holders of the Warrants and, provided further that any such extension shall
be identical in duration among all the Warrants.

 

     

     

    

 

3.3
Exercise of Warrants.

 

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

 

(a)  
in lawful money of the United States, in good certified check or good bank draft payable to the Warrant Agent or by wire transfer
of immediately available funds;

 

(b)
[Reserved];

 

(c)   with
respect to any Private Placement Warrant or Working Capital Warrant, so long as such Private Placement Warrant or Working Capital Warrant
is held by the Sponsor or its Permitted Transferees, as applicable, by surrendering the Warrants for that number of Ordinary Shares equal
to (i) if in connection with the redemption of Private Placement Warrants or Working Capital Warrants pursuant to Section 6.2
hereof, as provided in Section 6.2 hereof with respect to a Make-Whole Exercise (as defined below) and (ii) in all other scenarios
the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the excess
of the “Sponsor Exercise Fair Market Value,” as defined in this subsection 3.3.1(c), over the Warrant Price by (y)
the Sponsor Exercise Fair Market Value. Solely for purposes of this subsection 3.3.1(c), the “Sponsor Exercise Fair Market
Value” shall mean the average reported closing price of the Ordinary Shares for the ten (10) trading days ending on the third trading
day prior to the date on which notice of exercise of the Warrant is sent to the Warrant Agent;

 

(d)   on
a cashless basis, as provided in Section 6.2 hereof with respect to a Make-Whole Exercise; or

 

(e)   on
a cashless basis as provided in Section 7.4 hereof.

 

3.3.2   Issuance
of Ordinary Shares on Exercise. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment
of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered Holder of such
Warrant a book-entry position or certificate, as applicable, for the number of Ordinary Shares to which he, she or it is entitled, registered
in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new book-entry
position or countersigned Warrant, as applicable, for the number of Ordinary Shares as to which such Warrant shall not have been exercised.
If fewer than all the Warrants evidenced by a Book-Entry Warrant Certificate are exercised, a notation shall be made to the records maintained
by the Depositary, its nominee for each Book-Entry Warrant Certificate, or a Participant, as appropriate, evidencing the balance of the
Warrants remaining after such exercise. Notwithstanding the foregoing, the Company shall not be obligated to deliver any Ordinary Shares
pursuant to the exercise of a Warrant and shall have no obligation to settle such Warrant exercise unless a registration statement under
the Securities Act covering the issuance of the Ordinary Shares issuable upon exercise of the Public Warrants is then effective and a
prospectus relating thereto is current, subject to the Company’s satisfying its obligations under Section 7.4 or a valid
exemption therefrom being available, including in connection with an exercise on a “cashless basis” permitted as a result
of a notice of redemption under Section 6.2. No Warrant shall be exercisable for cash or on a “cashless basis” and
the Company shall not be obligated to issue Ordinary Shares upon exercise of a Warrant unless the issuance of the Ordinary Shares issuable
upon such Warrant exercise have been registered or qualified under the securities laws of the state of residence of the Registered Holder
of the Warrants, 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 shall not be entitled to exercise such Warrant and such Warrant may have no value
and expire worthless, in which case the purchaser of a Unit containing such Public Warrant shall have paid the full purchase price for
the Unit solely for the Ordinary Share underlying such Unit. In no event will the Company be required to net cash settle the Warrant
exercise. The Company may require holders of Public Warrants to settle the Warrant on a “cashless basis” pursuant to Section
7.4. If, by reason of any exercise of Warrants on a “cashless basis,” the holder of any Warrant would be entitled, upon
the exercise of such Warrant, to receive a fractional interest in an Ordinary Share, the Company shall round down to the nearest whole
number, the number of Ordinary Shares to be issued to such holder.

 

     

     

    

 

3.3.3    Valid
Issuance. All Ordinary Shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly issued,
fully paid and non-assessable.

 

3.3.4    Date
of Issuance. Each person in whose name any book-entry position or certificate, as applicable, for Ordinary Shares is issued shall
for all purposes be deemed to have become the holder of record of such Ordinary Shares on the date on which the Warrant, or book-entry
position representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of
such certificate in the case of a certificated Warrant, except that, if the date of such surrender and payment is a date when the share
transfer books of the Company or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder
of such Ordinary Shares at the close of business on the next succeeding date on which the share transfer books or book-entry system are
open.

 

3.3.5   Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained
in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she
or it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s
Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise,
such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in
excess of 9.8% (or such other amount as a holder may specify) (the “Maximum Percentage”) of the Ordinary Shares
issued and outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number
of Ordinary Shares beneficially owned by such person and its affiliates shall include the number of Ordinary Shares issuable upon exercise
of the Warrant with respect to which the determination of such sentence is being made, but shall exclude Ordinary Shares that would be
issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates
and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by
such person and its affiliates (including, without limitation, any convertible notes or convertible preferred shares or warrants) subject
to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence,
for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the number of issued
and outstanding Ordinary Shares, the holder may rely on the number of issued and outstanding Ordinary Shares as reflected in (1) the
Company’s most recent annual report on Form 10- K, quarterly report on Form 10-Q, current report on Form 8-K or other public filing
with the Commission as the case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or
the Transfer Agent setting forth the number of Ordinary Shares outstanding. For any reason at any time, upon the written request of the
holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of Ordinary
Shares then outstanding. In any case, the number of issued and outstanding Ordinary Shares shall be determined after giving effect to
the conversion or exercise of equity securities of the Company by the holder and its affiliates since the date as of which such number
of issued and outstanding Ordinary Shares was reported. By written notice to the Company, the holder of a Warrant may from time to time
increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified in such notice; provided,
however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company.

 

     

     

    

 

4.
Adjustments.

 

4.1
Share Capitalizations.

 

4.1.1   
Split-Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of issued and
outstanding Ordinary Shares is increased by a share capitalization payable in Ordinary Shares, or by a split-up of Ordinary Shares or
other similar event, then, on the effective date of such share capitalization, split-up or similar event, the number of Ordinary Shares
issuable on exercise of each Warrant shall be increased in proportion to such increase in the issued and outstanding Ordinary Shares.
A rights offering to holders of the Ordinary Shares entitling holders to purchase Ordinary Shares at a price less than the “Historical
Fair Market Value” (as defined below) shall be deemed a share capitalization of a number of Ordinary Shares equal to the product
of (i) the number of Ordinary Shares actually sold in such rights offering (or issuable under any other equity securities sold in such
rights offering that are convertible into or exercisable for Ordinary Shares) and multiplied by (ii) one (1) minus the quotient of (x)
the price per Ordinary Share paid in such rights offering divided by (y) the Historical Fair Market Value. For purposes of this subsection
4.1.1, (i) if the rights offering is for securities convertible into or exercisable for Ordinary Shares, in determining the price
payable for Ordinary Shares, there shall be taken into account any consideration received for such rights, as well as any additional
amount payable upon exercise or conversion and (ii) “Historical Fair Market Value” means the volume weighted average price
of the Ordinary Shares as reported during the ten (10) trading day period ending on the trading day prior to the first date on which
the Ordinary Shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights.
No Ordinary Shares shall be issued at less than their par value.

 

4.1.2   
Extraordinary Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend
or make a distribution in cash, securities or other assets to the holders of Ordinary Shares on account of such Ordinary Shares (or other
shares of the Company’s share capital into which the Warrants are convertible), other than (a) as described in subsection 4.1.1
above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of Ordinary Shares in
connection with a proposed initial Business Combination, (d) to satisfy the redemption rights of the holders of Ordinary Shares in connection
with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association (as amended from time
to time, the “Charter”) (A) to modify the substance or timing of the Company’s obligation to allow redemption
in connection with our initial business combination or to redeem 100% of the Ordinary Shares included in the Units sold in the Offering
(the “Public Shares”) if the Company does not complete the Business Combination within the period set
forth in the Charter or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business
Combination activity or (e) in connection with the redemption of Public Shares upon the failure of the Company to complete its initial
Business Combination and any subsequent distribution of its assets upon its liquidation (any such non-excluded event being referred to
herein as an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after
the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value (as determined by the Board, in
good faith) of any securities or other assets paid on each Ordinary Share in respect of such Extraordinary Dividend. For purposes of
this subsection 4.1.2, “Ordinary Cash Dividends” means any cash dividend or cash distribution which,
when combined on a per share basis, with the per share amounts of all other cash dividends and cash distributions paid on the Ordinary
Shares during the 365-day period ending on the date of declaration of such dividend or distribution (as adjusted to appropriately reflect
any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that resulted
in an adjustment to the Warrant Price or to the number of Ordinary Shares issuable on exercise of each Warrant) does not exceed $0.50
(being 5% of the offering price of the Units in the Offering) but only with respect to the amount of the aggregate cash dividends or
cash distributions equal to or less than $0.50.

 

4.2  
Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 4.6 hereof, the number
of issued and outstanding Ordinary Shares is decreased by a consolidation, combination, reverse share split or reclassification of Ordinary
Shares or other similar event, then, on the effective date of such consolidation, combination, reverse share split, reclassification
or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be decreased in proportion to such decrease
in issued and outstanding Ordinary Shares.

 

4.3
Adjustments in Warrant Price.

 

4.3.1   Whenever
the number of Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as provided in subsection 4.1.1 or Section
4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such
adjustment by a fraction (x) the numerator of which shall be the number of Ordinary Shares purchasable upon the exercise of the Warrants
immediately prior to such adjustment, and (y) the denominator of which shall be the number of Ordinary Shares so purchasable immediately
thereafter.

 

     

     

    

 

4.3.2   If
(x) the Company issues additional Ordinary Shares or equity-linked securities for capital raising purposes in connection with the closing
of the initial Business Combination at an issue price or effective issue price of less than $9.20 per Ordinary Share (with such issue
price or effective issue price to be determined in good faith by the Board and, in the case of any such issuance to the initial shareholders
(as defined in the Prospectus) or their affiliates, without taking into account any Class B Ordinary Shares (as defined below) held by
such shareholders or their 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 funding the initial Business Combination on the date of the completion of the Company’s initial Business Combination (net of
redemptions), and (z) the volume weighted average trading price of the Ordinary Shares during the 20 trading day period starting on the
trading day prior to the day on which the Company consummates the Business Combination (such price, the “Market Value”)
is below $9.20 per share, the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value
and the Newly Issued Price, the $18.00 per share redemption trigger price referred to in Section 6.1 and Section 6.2 shall
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 referred to in Section 6.2, shall be adjusted (to the nearest cent) to be equal to the higher of
the Market Value and the Newly Issued Price.

 

4.4    Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Ordinary Shares (other
than a change under subsections 4.1.1 or 4.1.2 or Section 4.2 hereof or that solely affects the par value of such
Ordinary Shares), or in the case of any merger or consolidation of the Company with or into another entity or conversion of the Company
as another entity (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in
any reclassification or reorganization of the outstanding Ordinary Shares), or in the case of any sale or conveyance to another entity
of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which the Company is
dissolved, the holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and
conditions specified in the Warrants and in lieu of the Ordinary Shares of the Company immediately theretofore purchasable and receivable
upon the exercise of the rights represented thereby, the kind and amount of shares or 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 his, her or its Warrant(s) immediately prior to such event
(the “Alternative Issuance”); provided, however, that (i) if the holders of the Ordinary Shares
were entitled to exercise a right of election as to the kind or amount of securities, cash or other assets receivable upon such consolidation
or merger, then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for which each Warrant
shall become exercisable shall be deemed to be the weighted average of the kind and amount received per share by the holders of the Ordinary
Shares in such consolidation or merger that affirmatively make such election, and (ii) if a tender, exchange or redemption offer shall
have been made to and accepted by the holders of the Ordinary Shares (other than a tender, exchange or redemption offer made by the Company
in connection with redemption rights held by shareholders of the Company as provided for in the Charter or as a result of the redemption
of Ordinary Shares by the Company if a proposed initial Business Combination is presented to the shareholders of the Company for approval)
under circumstances in which, upon completion of such tender or exchange offer, the maker thereof, together with members of any group
(within the meaning of Rule 13d-5(b)(1) under the Exchange Act (or any successor rule)) 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 (or any successor rule)) 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 (or any successor rule)) more than 50% of the issued and outstanding Ordinary Shares, the holder of a Warrant shall be entitled to
receive as the Alternative Issuance, the highest amount of cash, securities or other property to which such holder would actually have
been entitled as a shareholder if such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange offer,
accepted such offer and all of the Ordinary Shares held by such holder had been purchased pursuant to such tender or exchange offer,
subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments
provided for in this Section 4; provided further that if less than 70% of the consideration receivable by the holders of
the Ordinary Shares in the applicable event is payable in the form of capital stock or shares in the successor entity that is listed
for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading
or quoted immediately following such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following
the public disclosure of the consummation of such applicable event by the Company pursuant to a Current Report on Form 8-K filed with
the Commission, the Warrant Price shall be reduced by an amount (in dollars) equal to the difference (but in no event less than zero)
of (i) the Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined below) minus (B) the
Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant Value” means the value of a Warrant
immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American Call on
Bloomberg Financial Markets (“Bloomberg”). For purposes of calculating such amount, (1) Section 6 of
this Agreement shall be taken into account, (2) the price of each Ordinary Share shall be the volume weighted average price of the Ordinary
Shares as reported during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event,
(3) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day
immediately prior to the day of the announcement of the applicable event, and (4) the assumed risk-free interest rate shall correspond
to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per Share Consideration”
means (i) if the consideration paid to holders of the Ordinary Shares consists exclusively of cash, the amount of such cash per Ordinary
Share, and (ii) in all other cases, the volume weighted average price of the Ordinary Shares as reported during the ten (10) trading
day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or reorganization also
results in a change in Ordinary Shares covered by subsection 4.1.1, then such adjustment shall be made pursuant to subsection
4.1.1 or Sections 4.2, 4.3 and this Section 4.4. The provisions of this Section 4.4 shall similarly apply
to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the Warrant Price
be reduced to less than the par value per share issuable upon exercise of the Warrant.

 

     

     

    

 

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

 

4.6   
No Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not
issue fractional Ordinary Shares upon the exercise or redemption of Warrants. If, by reason of any adjustment made pursuant to this Section
4, the holder of any Warrant would be entitled, upon the exercise or redemption of such Warrant, to receive a fractional interest
in a share, the Company shall, upon such exercise, round down to the nearest whole number the number of Ordinary Shares to be issued
to such holder.

 

4.7   
Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and
Warrants issued after such adjustment may state the same Warrant Price and the same number of Ordinary Shares as is stated in the Warrants
initially issued pursuant to this Agreement; provided, however, that the Company may at any time in its sole discretion make any
change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter
issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

4.8  
Other Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections
of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i)
avoid an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case,
the Company shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national
standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to
effectuate the intent and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms of such
adjustment. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such
opinion.

 

4.9  
No Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a result
of an adjustment to the conversion ratio of the Company’s Class B ordinary shares (the “Class B Ordinary Shares”)
into Ordinary Shares or the conversion of the Class B Ordinary Shares into Ordinary Shares, in each case, pursuant to the Charter.

 

     

     

    

 

5.
Transfer and Exchange of Warrants.

 

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

 

5.2   Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for exchange or transfer,
and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the
Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that except as otherwise provided
herein or in any Book-Entry Warrant Certificate or Definitive Warrant Certificate, each Book-Entry Warrant Certificate and Definitive
Warrant Certificate may be transferred only in whole and only to the Depositary, to another nominee of the Depositary, to a successor
depository, or to a nominee of a successor depository; provided further, however, that in the event that a Warrant surrendered
for transfer bears a restrictive legend (as in the case of the Private Placement Warrants, the Working Capital Warrants and the Forward
Purchase Warrants), the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange thereof until the Warrant Agent
has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must
also bear a restrictive legend.

 

5.3   Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall result in the issuance
of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units.

 

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

 

5.5    
Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance
with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company,
whenever required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the Company for such
purpose.

 

5.6  
Transfer of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with
the Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of
such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included
in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer of Warrants
on and after the Detachment Date.

 

6.
Redemption.

 

6.1   
Redemption of Warrants When the Price per Ordinary Share Equals or Exceeds $18.00. Subject to Section 6.5 hereof,
not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period,
at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below,
at a Redemption Price of $0.01 per Warrant; provided that (a) the Reference Value (as defined below) equals or exceeds $18.00
per share (subject to adjustment in compliance with Section 4 hereof), and (b) there is an effective registration statement covering
the issuance of the Ordinary Shares issuable upon exercise of the Warrants, and a current prospectus relating thereto, available throughout
the 30-day Redemption Period (as defined in Section 6.3 below).

 

     

     

    

 

6.2   
Redemption of Warrants When the Price per Ordinary Share Equals or Exceeds $10.00. Subject to Section 6.5 hereof,
not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period,
at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.3 below,
at a Redemption Price of $0.10 per Warrant, provided that (i) the Reference Value equals or exceeds $10.00 per share (subject
to adjustment in compliance with Section 4 hereof) and (ii) if the Reference Value is less than $18.00 per share (subject to adjustment
in compliance with Section 4 hereof), the Private Placement Warrants are also concurrently called for redemption on the same terms
as the outstanding Public Warrants. During the 30-day Redemption Period in connection with a redemption pursuant to this Section 6.2,
Registered Holders of the Warrants may elect to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1
and receive a number of Ordinary Shares determined by reference to the table below, based on the Redemption Date (calculated for
purposes of the table as the period to expiration of the Warrants) and the “Redemption Fair Market Value” (as such term is
defined in this Section 6.2) (a “Make-Whole Exercise”). Solely for purposes of this Section
6.2, the “Redemption Fair Market Value” shall mean the volume weighted average price of the Ordinary Shares for the ten
(10) trading days immediately following the date on which notice of redemption pursuant to this Section 6.2 is sent to the Registered
Holders. In connection with any redemption pursuant to this Section 6.2, the Company shall provide the Registered Holders with
the Redemption Fair Market Value no later than one (1) Business Day after the ten (10) trading day period described above ends.

 

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

 

The
exact Redemption Fair Market Value and Redemption Date may not be set forth in the table above, in which case, if the Redemption 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 Ordinary
Shares to be issued for each Warrant exercised in a Make-Whole Exercise will be determined by a straight-line interpolation between the
number of shares set forth for the higher and lower Redemption Fair Market Values and the earlier and later redemption dates, as applicable,
based on a 365- or 366-day year, as applicable.

 

The
share prices set forth in the column headings of the table above shall be adjusted as of any date on which the number of shares issuable
upon exercise of a Warrant or the Warrant Price is adjusted pursuant to Section 4 hereof. In the event of a Warrant Price adjustment
pursuant to Section 4 hereof, the adjusted share prices in the column headings shall equal the unadjusted share prices immediately
prior to such adjustment, multiplied by a fraction, the numerator of which is the Warrant Price after such adjustment and the denominator
of which is the Warrant Price immediately after such adjustment. In such an event, the number of shares in the table above shall be adjusted
by multiplying such share amounts 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. If the Warrant Price is adjusted, (a) in the case of an adjustment pursuant to Section 4.3.2 hereof, the adjusted share
prices set forth in the column headings of the table above shall 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 and the denominator of which is $10.00, and (b) in the case of
an adjustment pursuant to Section 4.1.2 hereof, the adjusted share prices in the column headings shall equal the share prices
immediately prior to such adjustment less the decrease in the Exercise Price pursuant to such Exercise Price adjustment. In no event
will the number of shares issued in connection with a Make-Whole Exercise exceed 0.361 Ordinary Shares per Warrant (subject to adjustment).

 

     

     

    

 

6.3  
Date Fixed for, and Notice of, Redemption; Redemption Price; Reference Value. In the event that the Company elects to redeem
the Warrants pursuant to Sections 6.1 or 6.2, the Company shall fix a date for the redemption (the “Redemption
Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than
thirty (30) days prior to the Redemption Date (such period lasting from such time until the Redemption Date, the “30-day
Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall appear
on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether
or not the Registered Holder received such notice. As used in this Agreement, (a) “Redemption Price” shall
mean the price per Warrant at which any Warrants are redeemed pursuant to Sections 6.1 or 6.2 and (b) “Reference
Value” shall mean the last reported sales price of the Ordinary Shares for any twenty (20) trading days within the thirty
(30) trading-day period ending on the third trading day prior to the date on which notice of the redemption is given.

 

6.4   
Exercise After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance
with Section 6.2 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section
6.3 hereof and prior to the Redemption Date. On and after the Redemption Date, the record holder of the Warrants shall have no further
rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

6.5  
Exclusion of Private Placement Warrants and Working Capital Warrants. The Company agrees that (a) the redemption rights
provided in Section 6.1 hereof shall not apply to the Private Placement Warrants or the Working Capital Warrants if at the time
of the redemption such Private Placement Warrants or Working Capital Warrants continue to be held by the Sponsor or its Permitted Transferees,
as applicable and (b) if the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section 4 hereof),
the redemption rights provided in Section 6.2 hereof shall not apply to the Private Placement Warrants or Working Capital Warrants if
at the time of the redemption such Private Placement Warrants or Working Capital Warrants continue to be held by the Sponsor or any of
its Permitted Transferees, as applicable. However, once such Private Placement Warrants or Working Capital Warrants are transferred (other
than to Permitted Transferees under Section 2.6), the Company may redeem the Private Placement Warrants and the Working Capital
Warrants pursuant to Section 6.1 or 6.2 hereof, provided that the criteria for redemption are met, including the opportunity
of the holder of such Private Placement Warrants or Working Capital Warrants to exercise the Private Placement Warrants and the Working
Capital Warrants prior to redemption pursuant to Section 6.4. Private Placement Warrants and Working Capital Warrants that are
transferred to persons other than Permitted Transferees shall upon such transfer cease to be Private Placement Warrants or Working Capital
Warrants and shall become Public Warrants under this Agreement.

 

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

 

7.1  
No Rights as Shareholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder
of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights
to vote or to consent or to receive notice as shareholders in respect of the general meeting or the appointment of directors of the Company
or any other matter.

 

7.2  
Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and
the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of
a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost,
stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or
not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

     

     

    

 

7.3   Reservation
of Ordinary Shares. The Company shall at all times reserve and keep available a number of its authorized but unissued Ordinary Shares
that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

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

 

7.4.1    
Registration of the Ordinary Shares. The Company agrees that as soon as practicable, but in no event later than fifteen
(15) Business Days after the closing of its initial Business Combination, it shall use its commercially reasonable efforts to file with
the Commission a registration statement covering, under the Securities Act, the issuance of the Ordinary Shares issuable upon exercise
of the Warrants. The Company shall use its commercially reasonable efforts to cause the same to become effective within 60 Business Days
after the closing of its initial Business Combination and to maintain the effectiveness of such registration statement, and a current
prospectus relating thereto, until the expiration or redemption of the Warrants in accordance with the provisions of this Agreement.
If any such registration statement has not been declared effective by the 60th Business Day following the closing of the Business Combination,
holders of the Warrants shall have the right, during the period beginning on the 61st Business Day after the closing of the Business
Combination and ending upon such registration statement being declared effective by the Commission, and during any other period when
the Company shall fail to have maintained an effective registration statement covering the issuance of the Ordinary Shares issuable upon
exercise of the Warrants, to exercise such Warrants on a “cashless basis,” pursuant to subsection 3.3.1, by exchanging
the Warrants (in accordance with Section 3(a)(9) of the Securities Act (or any successor rule) or another exemption) for that number
of Ordinary Shares equal to the lesser of (A) quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying
the Warrants, multiplied by the excess of the “Fair Market Value” (as defined below) over the Warrant Price by (y) the Fair
Market Value and (B) 0.361 Ordinary Shares per warrant. Solely for purposes of this subsection 7.4.1, “Fair Market Value”
shall mean the volume weighted average price of the Ordinary Shares for the ten (10) trading day period ending on the trading day prior
to the date that notice of exercise is received by the Warrant Agent from the holder of such Warrants or its securities broker or intermediary.
The date that notice of cashless exercise is received by the Warrant Agent shall be conclusively determined by the Warrant Agent. In
connection with the “cashless exercise” of a Public Warrant, the Company shall, upon request, provide the Warrant Agent with
an opinion of counsel for the Company (which shall be an outside law firm with securities law experience) stating that (i) the exercise
of the Warrants on a cashless basis in accordance with this subsection 7.4.1 is not required to be registered under the Securities
Act and (ii) the Ordinary Shares issued upon such exercise shall be freely tradable under United States federal securities laws by anyone
who is not an affiliate (as such term is defined in Rule 144 under the Securities Act (or any successor rule)) of the Company and, accordingly,
shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance of any doubt, unless
and until all of the Warrants have been exercised or have expired, the Company shall continue to be obligated to comply with its registration
obligations under the first three sentences of this subsection 7.4.1.

 

7.4.2  
Cashless Exercise at Company’s Option. If the Ordinary Shares are at the time of any exercise of a Warrant not listed
on a national securities exchange such that they satisfy the definition of “covered securities” under Section 18(b)(1) of
the Securities Act (or any successor rule), the Company may, at its option, require holders of Public Warrants who exercise Public Warrants
to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act (or any successor
rule) as described in subsection 7.4.1 and (i) in the event the Company so elects, the Company shall not be required to file or
maintain in effect a registration statement for the registration, under the Securities Act, of the Ordinary Shares issuable upon exercise
of the Warrants, notwithstanding anything in this Agreement to the contrary or (ii) if the Company does not so elect, the Company agrees
to use its commercially reasonable efforts to register or qualify for sale the Ordinary Shares issuable upon exercise of the Public Warrants
under the blue sky laws of the state of residence of the exercising Public Warrant holder to the extent an exemption is not available.

 

     

     

    

 

 

 8. Concerning the Warrant Agent and Other Matters.

 

8.1  Payment
of Taxes. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant
Agent in respect of the issuance or delivery of Ordinary Shares upon the exercise of the Warrants, but the Company shall not be obligated
to pay any transfer taxes in respect of the Warrants or such Ordinary Shares.

 

 8.2  Resignation, Consolidation, or Merger of Warrant Agent.

 

8.2.1  
Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties
and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company.
If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty
(30) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of a Warrant (who
shall, with such notice, submit his, her or its Warrant for inspection by the Company), then the holder of any Warrant may apply to the
Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s
cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under
the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New
York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state
authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties,
and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further
act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the
expense of the Company, an instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor
Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any
and all instruments in writing for more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority,
powers, rights, immunities, duties, and obligations.

 

8.2.2  
Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice
thereof to the predecessor Warrant Agent and the Transfer Agent for the Ordinary Shares not later than the effective date of any such
appointment.

 

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

 

 8.3 Fees and Expenses of Warrant Agent.

 

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

 

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

 

 8.4 Liability of Warrant Agent.

 

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

 

     

     

    

 

8.4.2  
Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct, fraud or bad
faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, out-of-pocket
costs and reasonable outside counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement, except
as a result of the Warrant Agent’s gross negligence, willful misconduct, fraud or bad faith.

 

8.4.3   
Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect
to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any
breach by the Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible
to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any
such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any act hereunder
be deemed to make any representation or warranty as to the authorization or reservation of any Ordinary Shares to be issued pursuant to
this Agreement or any Warrant or as to whether any Ordinary Shares shall, when issued, be valid and fully paid and non-assessable.

 

8.5   
Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the
same upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants
exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of Ordinary
Shares through the exercise of the Warrants.

 

8.6  
Waiver. The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date
hereof, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement,
payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Warrant Agent hereby waives any and all
Claims against the Trust Account and any and all rights to seek access to the Trust Account.

 

 9.  Miscellaneous Provisions.

 

9.1  
Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent
shall bind and inure to the benefit of their respective successors and assigns.

 

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

 

Pedregal 24

8th Floor

Molino del
Rey, 11000

Mexico City, Mexico

Attention:
Gerard Cremoux

 

Any notice, statement or demand authorized
by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall be sufficiently
given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days
after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Warrant Agent with the Company),
as follows:

 

     

     

    

 

Continental Stock Transfer & Trust Company

1 State Street, 30th
Floor

New York, NY 10004

Attention: Compliance Department

 

in each case, with a copy to:

 

Shearman & Sterling LLP

800 Capitol Street, Suite
2200

Houston, TX 77002

Attn: William B. Nelson

Email: bill.nelson@shearman.com

 

and

 

BofA Securities, Inc.

One Bryant Park

New York, New York 10036

Attn: ECM Legal

Fax: (212) 230-8730

 

and

 

Banco BTG Pactual S.A. – Cayman Branch

601 Lexington
Avenue, 57th Floor

New York, New York 10022

Attn: Legal Department

Fax: (212) 293-4609

 

9.3  
Applicable Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants
shall be governed in all respects by the laws of the State of New York. Subject to applicable law, the Company hereby agrees that any
action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts
of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be the exclusive forum for any such action, proceeding or claim. The Company hereby waives any objection to such
exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding the foregoing, the provisions of this paragraph
will not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other claim for which the federal
district courts of the United States of America are the sole and exclusive forum.

 

Any person or entity
purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have consented to the forum
provisions in this Section 9.3. If any action, the subject matter of which is within the scope the forum provisions above, is filed
in a court other than a court located within the State of New York or the United States District Court for the Southern District of
New York (a “foreign action”) in the name of any warrant holder, such warrant holder shall be deemed to have consented
to: (x) the personal jurisdiction of the state and federal courts located within the State of New York or the United States District
Court for the Southern District of New York in connection with any action brought in any such court to enforce the forum provisions
(an “enforcement action”), and (y) having service of process made upon such warrant holder in any such enforcement
action by service upon such warrant holder’s counsel in the foreign action as agent for such warrant holder.

 

9.4   Persons
Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any person or
corporation other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under or by reason
of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions, stipulations,
promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and their
successors and assigns and of the Registered Holders of the Warrants.

 

     

     

    

 

9.5  
Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office
of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant.
The Warrant Agent may require any such holder to submit such holder’s Warrant for inspection by the Warrant Agent.

 

9.6   
Counterparts; Electronic Signatures. This Agreement may be executed in any number of original or facsimile counterparts
and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute
but one and the same instrument. A signature to this Agreement transmitted electronically shall have the same authority, effect and enforceability
as an original signature.

 

9.7  
Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not
affect the interpretation thereof.

 

9.8   Amendments.
This Agreement may be amended by the parties hereto without the consent of any Registered Holder for the purpose of (i) curing any
ambiguity or correcting any mistake, including conforming the provisions hereof to the description of the terms of the Warrants and
this Agreement set forth in the Prospectus or defective provision contained herein or adding or changing any other provisions with
respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties
deem shall not adversely affect the interest of the Registered Holders under this Agreement, (ii) to provide for the delivery of an
Alternative Issuance pursuant to Section 4.4 and (iii) to make any amendments that are necessary in the good faith determination of
the Company’s board of directors (taking into account then existing market precedents) to allow for the Warrants to be
classified as equity in the Company’s financial statements; provided that this clause (iii) shall not allow any modification
or amendment to this Agreement that would increase the Warrant Price, shorten the Exercise Period, reduce the $18.00 price trigger
in Section 6.1 or reduce the $10.00 or $18.00 price trigger or amounts set forth in the table in Section 6.2 (however,
the Company may remove the redemption rights in Section 6.2 entirely). All other modifications or amendments, including any
modification or amendment to increase the Warrant Price or shorten the Exercise Period and any amendment to the terms of only the
Private Placement Warrants or Forward Purchase Warrants, shall require the vote or written consent of the Registered Holders of at
least 65% of the number of the then outstanding Public Warrants; provided that any amendment that solely affects the terms of the
Private Placement Warrants or Forward Purchase Warrants or any provision of this Agreement solely with respect to the Private
Placement Warrants or Forward Purchase Warrants shall also require at least 65% of then outstanding Private Placement Warrants or
Forward Purchase Warrants, respectively. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the
duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the Registered
Holders.

 

9.9 Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

[Signature Page Follows]

 

     

     

    

 

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

 

	 	LATAMGROWTH SPAC
	 	 
	 	By:	/s/ Gerard Cremoux
	 	Name:	Gerard Cremoux
	 	Title:	Chief Executive Officer, Chief Financial Officer &
Director
	 	 	 
	 	
    CONTINENTAL STOCK TRANSFER &

    TRUST COMPANY, as Warrant Agent 

	 	 	 
	 	By:	/s/ Douglas Reed
	 	Name:	Douglas Reed
	 	Title:	Vice President

  

[Signature Page to Warrant Agreement]

 

     

     

    

 

EXHIBIT A

 

LEGEND

 

THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED,
SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES
LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER
AGREEMENT BY AND AMONG LATAMGROWTH SPAC (THE “COMPANY”), LATAMGROWTH SPONSOR LLC AND THE OTHER PARTIES THERETO, THE SECURITIES
REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE
COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED
TRANSFEREE (AS DEFINED IN SECTION 2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES EVIDENCED BY THIS CERTIFICATE
AND CLASS A ORDINARY SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION
RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.

 

     

     

    

 

EXHIBIT B

 

[Form of Warrant Certificate]

 

[FACE]

 

Number

 

Warrants

 

THIS WARRANT SHALL BE VOID
IF NOT EXERCISED PRIOR TO

 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR IN THE

WARRANT AGREEMENT DESCRIBED BELOW

 

LATAMGROWTH SPAC

Incorporated Under the Laws
of the Cayman Islands

 

CUSIP [●]

 

Warrant Certificate

 

This Warrant Certificate certifies
that          , or registered assigns, is the registered holder of warrants evidenced hereby (the “Warrants” and each,
a “Warrant”) to purchase Class A Ordinary Shares, $0.0001 par value per share (the “Ordinary Shares”),
of LatAmGrowth SPAC, a Cayman Islands exempted company (the “Company”). Each Warrant entitles the holder, upon exercise
during the Exercise Period set forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid
and non-assessable Ordinary Shares as set forth below, at the exercise price (the “Warrant Price”) as determined pursuant
to the Warrant Agreement, payable in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement)
of the United States of America upon surrender of this Warrant Certificate and payment of the Warrant Price at the office or agency of
the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms used in this
Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Each whole
Warrant is initially exercisable for one fully paid and non-assessable Ordinary Share. No fractional shares will be issued upon exercise
of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in an Ordinary Share, the
Company will, upon exercise, round down to the nearest whole number the number of Ordinary Shares to be issued to the Warrant holder.
The number of Ordinary Shares issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events set
forth in the Warrant Agreement.

 

The initial
Warrant Price per Ordinary Share for any Warrant is equal to $11.50 per share. The Warrant Price is subject to adjustment upon the occurrence
of certain events set forth in the Warrant Agreement.

 

Subject to
the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not
exercised by the end of such Exercise Period, such Warrants shall become void. The Warrants may be redeemed, subject to certain conditions,
as set forth in the Warrant Agreement.

 

Reference is
hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions shall for
all purposes have the same effect as though fully set forth at this place.

 

This Warrant
Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This Warrant
Certificate shall be governed by and construed in accordance with the internal laws of the State of New York.

 

     

     

    

 

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

 

     

     

    

 

[Form
of Warrant Certificate]

 

[Reverse]

 

The Warrants
evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive Ordinary
Shares and are issued or to be issued pursuant to a Warrant Agreement dated as of January 20, 2022 (the “Warrant Agreement”),
duly executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York limited purpose trust company,
as warrant agent (the “Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part
of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities
thereunder of the Warrant Agent, the Company and the holders (the words “holders” or “holder” meaning
the Registered Holders or Registered Holder, respectively) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder
hereof upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings
given to them in the Warrant Agreement.

 

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

 

Notwithstanding
anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise (i) a registration
statement covering the issuance of the Ordinary Shares to be issued upon exercise is effective under the Securities Act of 1933, as amended,
and (ii) a prospectus thereunder relating to the Ordinary Shares is current, except through “cashless exercise” as provided
for in the Warrant Agreement.

 

The Warrant
Agreement provides that upon the occurrence of certain events the number of Ordinary Shares issuable upon the exercise of the Warrants
set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would
be entitled to receive a fractional interest in an Ordinary Share, the Company shall, upon exercise, round down to the nearest whole number
of Ordinary Shares to be issued to the holder of the Warrant.

 

Warrant Certificates,
when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person or by legal representative
or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement,
but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate
a like number of Warrants.

 

Upon due presentation
for registration of transfer of this Warrant Certificate at the office of the Warrant Agent, a new Warrant Certificate or Warrant Certificates
of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant
Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge
imposed in connection therewith.

 

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

 

     

     

    

 

Election to Purchase

 

(To Be Executed Upon Exercise
of Warrant)

 

The undersigned
hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive                         Ordinary
Shares and herewith tenders payment for such Ordinary Shares to the order of LatAmGrowth SPAC (the “Company”) in the
amount of $             in accordance with the terms hereof. The undersigned
requests that a certificate for such Ordinary Shares be registered in the name of                 whose
address is                and that such Ordinary
Shares be delivered to                 whose
address is                  . If
said number of Ordinary Shares is less than all of the Ordinary Shares purchasable hereunder, the undersigned requests that a new Warrant
Certificate representing the remaining balance of such Ordinary Shares be registered in the name of                    , whose address is                  and that such
Warrant Certificate be delivered to                    , whose address is                  .

 

In the event
that the Warrant has been called for redemption by the Company pursuant to Section 6 of the Warrant Agreement and the Company has
required cashless exercise pursuant to Section 6.2 of the Warrant Agreement, the number of Ordinary Shares that this Warrant is
exercisable for shall be determined in accordance with subsection 3.3.1(c) and Section 6.3 of the Warrant Agreement.

 

In the event
that the Warrant is a Private Placement Warrant that is to be exercised on a “cashless” basis pursuant to subsection 3.3.1(c)
of the Warrant Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance with subsection
3.3.1(c) of the Warrant Agreement.

 

In the event
that the Warrant is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant Agreement, the number
of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant Agreement.

 

In the event
that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the number of Ordinary
Shares that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which
allows for such cashless exercise and (ii) the holder hereof shall complete the following: The undersigned hereby irrevocably elects to
exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive
Ordinary Shares. If said number of shares is less than all of the Ordinary Shares purchasable hereunder (after giving effect to the cashless
exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such Ordinary Shares be registered
in the name of                    , whose address is                    and that such Warrant Certificate be delivered to                    , whose address is                    .

 

[Signature Page Follows]

 

     

     

    

 

	Date:                             ,	 
	
    
	(Signature)

	 	 
	 	(Address)
	 	 
	 	(Tax Identification Number)

 

Signature Guaranteed:

 

 

		 

 

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

 

     

     

    

 

EXHIBIT C

 

LEGEND

 

THE SECURITIES REPRESENTED HEREBY
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 SALE, PLEDGE, HYPOTHECATION, OR TRANSFER OF THE SECURITIES REPRESENTED HEREBY
ARE SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN FORWARD PURCHASE AGREEMENT BY AND BETWEEN THE HOLDER AND THE COMPANY. COPIES OF SUCH
AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.Exhibit 10.1

 

Execution Version

 

January 24,
2022 

 

LatAmGrowth SPAC 

Pedregal 24

8th Floor

Molino del Rey, 11000

 Mexico City, Mexico

 

	Re:	Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (this “Letter
Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting
Agreement”) entered into by and among LatAmGrowth SPAC, a Cayman Islands exempted company (the
“Company”), BofA Securities, Inc. and Banco BTG Pactual S.A. - Cayman Branch , as representatives (the
“Representatives”) of the several underwriters (each, an “Underwriter” and
collectively, the “Underwriters”), relating to an underwritten initial public offering (the
“Public Offering”), of up to 14,950,000 of the Company’s units (including up to 1,950,000 units that
may be purchased to cover over-allotments, if any) (the “Units”), each comprised of one of the
Company’s Class A ordinary shares, par value $0.0001 per share (the “Class A Ordinary Shares”), and
one-half of one redeemable warrant. Each whole warrant (each, a “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 in the Prospectus (as defined
below). The Units will be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the
“Prospectus”) filed by the Company with the U.S. Securities and Exchange Commission (the
“Commission”) and the Company has applied to have the Units listed on The Nasdaq Global Market. Certain
capitalized terms used herein are defined in paragraph 11 hereof.

 

In order to induce the Company and the Underwriters to
enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, each of LatAmGrowth Sponsor LLC, a Delaware limited liability company (the “Sponsor”)
and the undersigned individuals, each of whom is, or will be, a member of the Company’s board of directors and/or management team
(each of the undersigned individuals, an “Insider” and collectively, the “Insiders”),
hereby agrees with the Company as follows:

 

	 	1.	
    The Sponsor and each
    Insider agrees that if the Company seeks shareholder approval of a proposed Business Combination, then in connection with such
    proposed Business Combination, it, he or she shall (i) vote any Ordinary Shares (as defined below) owned by it, him or her in favor
    of any proposed Business Combination and (ii) not redeem any Ordinary Shares owned by it, him or her in connection with such
    shareholder approval. If the Company seeks to consummate a proposed Business Combination by engaging in a tender offer, the Sponsor
    and each Insider agrees that it, he or she will not sell or tender any Ordinary Shares owned by it, him or her in connection
    therewith.

 

	 	2.	
    The Sponsor and each Insider hereby agrees that in
    the event that the Company fails to consummate a Business Combination within 15 months from the closing of the Public Offering (or
    up to 21 months, as may be extended by the Company in accordance with its amended and restated memorandum and articles of
    association, as it may be amended from time to time, the “Charter”), or such later period approved by the
    Company’s shareholders in accordance with the Company’s Charter, the Sponsor and each Insider shall take all reasonable
    steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible
    but not more than ten (10) business days thereafter, redeem 100% of the Class A Ordinary Shares sold as part of the Units in the
    Public Offering (the “Offering Shares”), at a per-share price, payable in cash, equal to the aggregate
    amount then on deposit in the Trust Account (as defined below), including interest earned on the funds held in the Trust Account
    (less taxes payable and up to $100,000 of interest to pay dissolution expenses),
divided by the number of then outstanding Offering Shares, which redemption will completely extinguish all Public
Shareholders’ (as defined below) rights as shareholders (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 the Company’s
remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in the case of clauses (ii) and
(iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the
other requirements of applicable law. The Sponsor and each Insider agrees to not propose any amendment to the Charter (A) to modify
the substance or timing of the Company’s obligation to allow redemption in connection with our initial business combination or
to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within the required time period set
forth in the Charter or (B) with respect to any other material provisions relating to shareholders’ rights or pre- initial
Business Combination activity, unless the Company provides its Public Shareholders with the opportunity to redeem their Offering
Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in
the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to
pay its taxes, divided by the number of then outstanding Offering Shares.

 

     

     

    

 

The Sponsor and each Insider acknowledges that it,
he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset of the
Company as a result of any liquidation of the Company with respect to the Founder Shares held by it, him or her (which, for the
avoidance of doubt, shall include any monies deposited in or loans made to the Trust Account for purposes of extending the period of
time to consummate a Business Combination). The Sponsor and each Insider hereby further waives, with respect to any Ordinary Shares
held by it, him or her, if any, any redemption rights it, he or she may have in connection with (a) the consummation of a Business
Combination, including, without limitation, any such rights available in the context of a shareholder vote to approve such Business
Combination, or (b) a shareholder vote to approve an amendment to the Charter (A) to modify the substance or timing of the
Company’s obligation to allow redemption in connection with our initial business combination or to redeem 100% of the Offering
Shares if the Company has not consummated a Business Combination within the time period set forth in the Charter or (B) with respect
to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity or in the
context of a tender offer made by the Company to purchase Offering Shares (although the Sponsor, the Insiders and their respective
affiliates shall be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold if the Company
fails to consummate a Business Combination within the time period set forth in the Charter).

 

 

	 	3.	
    During the period commencing on the
    effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each Insider shall not, without
    the prior written consent of the Representatives, (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any
    option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a put equivalent
    position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of
    1934, as amended (the “Exchange Act”), and the rules and regulations of the Commission promulgated
    thereunder, with respect to, any Units, Ordinary Shares (including, but not limited to, Founder Shares), Warrants or any securities
    convertible into, or exercisable, or exchangeable for, Ordinary Shares owned by it, him or her, (ii) enter into any swap or other
    arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Units, Ordinary
    Shares (including, but not limited to, Founder Shares), Warrants or any securities convertible into, or exercisable, or exchangeable
    for, Ordinary Shares owned by it, him or her, whether any such transaction is to be settled by delivery of such securities, in cash
    or otherwise, or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii).

 

	 	4.	
    In the event of the liquidation of the Trust Account
    upon the failure of the Company to consummate its initial Business Combination within the time period set forth in the Charter, the
    Sponsor (the “Indemnitor”) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever
(including, but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending
against any litigation, whether pending or threatened) to which the Company may become subject as a result of any claim by (i) any
third party for services rendered or products sold to the Company or (ii) any prospective target business with which the Company has
entered into a written letter of intent, confidentiality or other similar agreement or Business Combination agreement (a
“Target”); provided, however, that such indemnification of the Company by the Indemnitor (x)
shall apply only to the extent necessary to ensure that such claims by a third party or a Target do not reduce the amount of funds
in the Trust Account to below the lesser of (i) $10.20 per Offering Share and (ii) the actual amount per Offering Share held in the
Trust Account as of the date of the liquidation of the Trust Account, if less than $10.20 per Offering Share is then held in the
Trust Account due to reductions in the value of the trust assets, less taxes payable, (y) shall not apply to any claims by a third
party or a Target which executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver
is enforceable) and (z) shall not apply to any claims under the Company’s indemnity of the Underwriters against certain
liabilities, including liabilities under the Securities Act of 1933, as amended. The Indemnitor shall have the right to defend
against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following written
receipt of notice of the claim to the Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake such
defense.

 

     

     

    

 

	 	5.	
    To the extent that the Underwriters do not
    exercise their over-allotment option to purchase up to an additional 1,950,000 Units within 45 days from the date of the Prospectus
    (and as further described in the Prospectus), the Initial Shareholders agree to forfeit, at no cost, a number of Founder Shares, to
    be split pro rata between them based on the number of Founder Shares they hold upon the consummation of the Public Offering, equal
    to 487,500 multiplied by a fraction, (i) the numerator of which is 1,950,000 minus the number of Units purchased by the Underwriters
    upon the exercise of their over-allotment option, and (ii) the denominator of which is 1,950,000. The forfeiture will be adjusted to
    the extent that the over-allotment option is not exercised in full by the Underwriters so that the Founder Shares will represent an
    aggregate of 20% of the Company’s issued and outstanding Class A Ordinary Shares after the Public Offering (not including
    Class A Ordinary Shares underlying the Private Placement Warrants (as defined below)). The Initial Shareholders further agree that
    to the extent that the size of the Public Offering is increased or decreased, the Company will purchase or sell Units or effect a
    share repurchase or share capitalization, as applicable, immediately prior to the consummation of the Public Offering in such amount
    as to maintain the ownership of the Initial Shareholders prior to the Public Offering at 20% of its issued and outstanding Ordinary
    Shares upon the consummation of the Public Offering. In connection with such increase or decrease in the size of the Public
    Offering, then (A) the references to 1,950,000 in the numerator and denominator of the formula in the first sentence of this
    paragraph shall be changed to a number equal to 15% of the number of Class A Ordinary Shares included in the Units issued in the
    Public Offering and (B) the reference to 487,500 in the formula set forth in the first sentence of this paragraph shall be adjusted
    to such number of Founder Shares that the Initial Shareholders would have to surrender to the Company in order for the Initial
    Shareholders to hold an aggregate of 20% of the Company’s issued and outstanding Class A Ordinary Shares after the Public
    Offering (not including Class A Ordinary Shares underlying the Warrants or Private Placement Warrants).

 

	 	6.	
    The Sponsor and each Insider hereby agrees and acknowledges
that: (i) the Underwriters and the Company would be irreparably injured in the event of a breach by such Sponsor or an Insider of its,
his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), and 7(b), as applicable, of this Letter Agreement, (ii) monetary damages
may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to
any other remedy that such party may have in law or in equity, in the event of such breach.

 

     

     

    

 

	 	7.	
    (a) The Sponsor and each Insider agrees that it, he
    or she shall not Transfer any Founder Shares (or any Class A Ordinary Shares issuable upon conversion thereof) until the earlier of
    (A) one year after the completion of the Company’s initial Business Combination and (B) subsequent to the Business
    Combination, (x) if the closing price of the Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 120
days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger,
amalgamation, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s Public
Shareholders having the right to exchange their shares of Class A Ordinary Shares for cash, securities or other property (the
“Founder Shares Lock-up Period”).

	 	 	 
	 	 	(b) The Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Placement Warrants (or any Class A
Ordinary Shares underlying the Private Placement Warrants), until 30 days after the completion of a Business Combination (the “Private
Placement Warrants Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up Periods”).
	 	 	 
	 	 	(c) Notwithstanding the provisions set forth in paragraphs 7(a) and (b), Transfers of the Founder Shares, Private Placement Warrants
and the Class A Ordinary Shares underlying the Private Placement Warrants that are held by the Sponsor, any Insider or any of their permitted
transferees (that have complied with this paragraph 7(c)), are permitted (a) to the Company’s officers or directors, any affiliate
or family member of any of the Company’s officers or directors, any affiliate of the Sponsor or to any members of the Sponsor or
any of their affiliates; (b) in the case of an individual, by gift to a member of such individual’s immediate family or to a trust,
the beneficiary of which is a member of such individual’s immediate family, an affiliate of such individual or to a charitable
organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of such individual; (d) in the
case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with any
forward purchase agreement or similar arrangement or in connection with the consummation of an initial Business Combination at prices
no greater than the price at which the securities were originally purchased; (f) in the event of the Company’s liquidation prior
to the completion of an initial Business Combination; (g) by virtue of the laws of the Cayman Islands or the Sponsor’s limited
liability company agreement upon dissolution of the Sponsor; or (h) in the event of the Company’s liquidation, merger, capital
stock exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their
Class A Ordinary Shares for cash, securities or other property subsequent to the Company’s completion of an initial Business Combination;
provided, however, that in the case of clauses (a) through (e) or (g), these permitted transferees must enter into a written
agreement with the Company agreeing to be bound by the transfer restrictions herein and the other restrictions contained in this Agreement
(including provisions relating to voting, the Trust Account and liquidating distributions).

 

	 	8.	
    The Sponsor and each Insider represents and
    warrants that it, he or she has never been suspended or expelled from membership in any securities or commodities exchange or
    association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s
    biographical information furnished to the Company (including any such information included in the Prospectus) is true and accurate
    in all respects and does not omit any material information with respect to the Insider’s background. The Sponsor and each
    Insider’s questionnaire furnished to the Company is true and accurate in all respects. The Sponsor and each Insider represents
    and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction, cease-and- desist order
    or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;
    it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial
    transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or she is not
    currently a defendant in any such criminal proceeding.

 

     

     

    

 

	 	9.	
    Except as disclosed in the Prospectus, neither the
    Sponsor nor any officer, nor any affiliate of the Sponsor or any officer, nor any director of the Company, shall receive from the
    Company any finder’s fee, reimbursement, consulting fee, non-cash payments, monies in respect of any repayment of a loan or
    other compensation prior to, or in connection with any services rendered in order to effectuate, the consummation of the
    Company’s initial Business Combination (regardless of the type of transaction that it is), other than the
following, none of which will be made from the proceeds held in the Trust Account prior to the completion of the initial Business
Combination: repayment of a loan and advances up to an aggregate of $300,000 made to the Company by the Sponsor; [payment to the
Company’s Chief Financial Officer of an annual cash salary of $[●]]; reimbursement for any reasonable out-of-pocket
expenses related to identifying, investigating, negotiating and completing an initial Business Combination, as well as customary
finder’s fees to any advisory director who identifies and introduces the Company to the target in the Company’s business
combination, and repayment of loans, if any, and on such terms as to be determined by the Company from time to time, made by the
Sponsor or an affiliate of the Sponsor or certain of the Company’s officers or directors to finance transaction costs in
connection with an intended initial Business Combination, provided, that, if the Company does not consummate an initial Business
Combination, a portion of the working capital held outside the Trust Account may be used by the Company to repay such loaned amounts
so long as no proceeds from the Trust Account are used for such repayment. Up to $1,500,000 of such loans may be convertible into
warrants at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the Private Placement
Warrants, including as to exercise price, exercisability and exercise period.

 

	 	10.	
    The Sponsor and each Insider has full right
    and power, without violating any agreement to which it is bound (including, without limitation, any non-competition or
    non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve
    as an officer and/or director on the board of directors of the Company and hereby consents to being named in the Prospectus as an
    officer and/or director of the Company.

 

	 	11.	
    As used herein, (i) “Business
    Combination” shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
    business combination, involving the Company and one or more businesses; (ii) “Ordinary Shares” shall mean
    the Class A Ordinary Shares and Class B ordinary shares, par value $0.0001 per share (the “Class B Ordinary
    Shares”); (iii) “Founder Shares” shall mean the 3,737,500 Class B Ordinary Shares issued and
    outstanding (up to 487,500 of which are subject to complete or partial forfeiture if the over-allotment option is not exercised by
    the Underwriters); (iv) “Initial Shareholders” shall mean the Sponsor and any Insider that holds Founder
    Shares; (v) “Private Placement Warrants” shall mean the 7,900,000 warrants (or 8,680,000 warrants if the
    over-allotment option is exercised in full) that the Sponsor has agreed to purchase for an aggregate purchase price of $7,900,000
    (or $8,680,000 if the over-allotment option is exercised in full), or $1.00 per warrant, in a private placement that shall occur
    simultaneously with the consummation of the Public Offering; (vi) “Public Shareholders” shall mean the
    holders of securities issued in the Public Offering; (vii) “Trust Account” shall mean the trust fund into
    which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Warrants shall be deposited; and
    (viii) “Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate,
    pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment
    or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning
    of Section 16 of the Exchange Act, and the rules and regulations of the Commission promulgated thereunder with respect to, any
    security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
    consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or
    otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

	 	12.	
    The Company will maintain an insurance policy or
    policies providing directors’ and officers’ liability insurance, and each Director shall be covered by such policy or
    policies, in accordance with its or their terms, to the maximum extent of the coverage available pursuant to such policy or policies
    for any of the Company’s directors or officers.

 

     

     

    

 

	 	13.	
    This Letter Agreement constitutes the entire agreement
    and understanding of the parties hereto in respect of the subject matter hereof 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. This Letter Agreement may not be changed, amended, modified or waived (other than to correct
a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.

 

	 	14.	
    No party hereto may assign either this
    Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other parties.
    Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign
    any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each Insider and their
    respective successors, heirs and assigns and permitted transferees.

 

	 	15.	
    Nothing in this Letter Agreement shall be
construed to confer upon, or give to, any person or corporation other than the parties hereto any right, remedy or claim under or by
reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants, conditions, stipulations,
promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties hereto and their
successors, heirs, personal representatives and assigns and permitted transferees.

 

	 	16.	
    This Letter Agreement may be executed in
any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original, and
all such counterparts shall together constitute but one and the same instrument.

 

	 	17.	
    This Letter Agreement shall be deemed
    severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of
    this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or
    provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in terms to
    such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

	 	18.	
    This Letter Agreement shall be governed by
    and construed and enforced in accordance with the laws of the State of New York. The parties hereto (i) all agree that any action,
    proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be brought and enforced in the
    courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction and
    venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent an
    inconvenient forum.

 

	 	19.	
    Any notice, consent or request to be given
in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by express mail or similar
private courier service, by certified mail (return receipt requested), by hand delivery or facsimile transmission.

 

	 	20.	
    This Letter Agreement shall terminate on
    the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company; provided, however, that this Letter
    Agreement shall earlier terminate in the event that the Public Offering is not consummated and closed by March 31, 2022; provided
    further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

[Signature Page Follows]

 

     

     

    

 

	 	Sincerely,
	 	 
	 	LATAMGROWTH SPONSOR LLC
	 	 
	 	By: 	/s/ Gerard Cremoux
	 	 	Name: Gerard Cremoux
	 	 	Title: Chief Executive Officer

 

	Acknowledged and Agreed:	 
	 	 
	LATAMGROWTH SPAC	 
	 	 
	By:	 /s/ Gerard Cremoux	 
	 	Name: Gerard Cremoux	 
	 	Title: Chief Executive Officer	 

 

[Signature Page to Letter Agreement]

 

     

     

    

 

Acknowledged and Agreed:

	 	 
	By:	/s/ Gerard Cremoux	 
	 	Name: Gerard Cremoux	 
	 	Title: Chief Executive Officer, Chief Financial Officer & Director  	 
	 	 	 
	By:	/s/ Gerardo Mendoza	 
	 	Name:  Gerardo Mendoza	 
	 	Title: Chief Investment Officer	 
	 	 	 
	By:	/s/ Eduardo Cortina	 
	 	Name:  Eduardo Cortina	 
	 	Title:    Chairman of the Board  	 
	 	 	 
	By:	/s/ Hector Martinez	 
	 	Name: Hector Martinez	 
	 	Title: Managing Director  	 
	 	 	 
	By:	/s/ Miguel Olea	 
	 	Name: Miguel Olea	 
	 	Title: Managing Director  	 
	 	 	 
	By:	/s/ Michael J. McGuinness	 
	 	Name: Michael J. McGuinness	 
	 	Title: Director  	 
	 	 	 
	By:	/s/ Zain A. Manekia	 
	 	Name: Zain A. Manekia	 
	 	Title: Director	 
	 	 	 
	By:	/s/ Carole Philippe	 
	 	Name: Carole Philippe	 
	 	Title: Director  	 
	 	 	 
	By:	/s/ Murray Case	 
	 	Name:  Murray Case	 
	 	Title: Board Advisor	 
	 	 	 
	By:	/s/ Juan Manuel Ordoñez	 
	 	Name:  Juan Manuel Ordoñez	 
	 	Title:  Board Advisor  	 

 

[Signature Page to Letter Agreement]

 

     

     

    

 

	By:	/s/ Roberto Rittes	 
	 	Name: Roberto Rittes	 
	 	Title: Board Advisor	 
	 	 	 
	By:	/s/ Aron Schwarzkopf	 
	 	Name: Aron Schwarzkopf	 
	 	Title: Board Advisor  	 
	 	 	 
	By:	/s/ Julio Serrano	 
	 	Name: Julio Serrano	 
	 	Title: Board Advisor  	 
	 	 	 
	By:	/s/ Adam Wiaktor	 
	 	Name: Adam Wiaktor	 
	 	Title: Board Advisor	 

 

[Signature Page to Letter Agreement]

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