Document:

Exhibit
4.11

 

Description
of Securities

 

Share
Capital – Ordinary Shares

 

Our
share capital currently consists of ordinary shares. We may issue shares with such rights or restrictions as may be determined by ordinary
resolution, including shares which are to be redeemed, or are liable to be redeemed at our option or the option of the holder of such
shares.

 

Voting

 

The
shareholders have the right to receive notice, in accordance with the Companies Act (generally 21 days), of, and to vote at, our general
meetings. Each shareholder who is present in person (or, being a corporation, by representative) at a general meeting on a show of hands
has one vote and, on a poll, every such holder who is present in person (or, being a corporation, by representative) or by proxy has
one vote in respect of every share held by him. Generally, any resolution put to the vote of a general meeting shall be decided on a
show of hands, although a poll may be demanded at the meeting on any resolution by the chairman, or by not less than five shareholders
(present in person or by proxy) who are entitled to vote on the resolution, or by a shareholder or shareholders (present in person or
by proxy) representing in aggregate not less than one-tenth of the total voting rights or sums paid up of all the shareholders having
the right to vote on the resolution.

 

Variation
of Rights

 

Whenever
our share capital is divided into different classes of shares, the special rights attached to any class may be varied or abrogated either
with the consent in writing of the holders of three-fourths in nominal value of the issued shares of that class or with the sanction
of a special resolution (which requires a 75% vote) passed at a general meeting of the holders of the shares of that class, and may be
so varied and abrogated while the company is a going concern.

 

Dividends

 

We
may, subject to the provisions of the Companies Act and the Articles of Association, by ordinary resolution declare dividends to be paid
to shareholders not exceeding the amount recommended by our board of directors. Subject to the provisions of the Companies Act, if, at
the discretion of board of directors, our profits available for distribution justify such payments, the board of directors may pay interim
dividends on any class of our share.

 

Any
dividend unclaimed after a period of 12 years from the date such dividend was declared or became payable shall, if the board of directors’
resolve, be forfeited and shall revert to us. No dividend or other moneys payable on or in respect of a share shall bear interest as
against us.

 

Transfer
of Ordinary Shares

 

Each
member may transfer all or any of his shares which are in certificated form by means of an instrument of transfer in any usual form or
in any other form which the board of directors may approve.

 

    	 

     

    

 

The
board of directors may, in its absolute discretion, refuse to register a transfer of certificated shares unless:

 

(i)
it is for a share which is fully paid up;

 

(ii)
it is for a share upon which the company has no lien;

 

(iii)
it is only for one class of share;

 

(iv)
it is in favor of a single transferee or no more than four joint transferees;

 

(v)
it is duly stamped or is duly certificated or otherwise shown to the satisfaction of the board of directors to be exempt from stamp duty;
and

 

(vi)
it is delivered for registration to the registered office of the company (or such other place as the board of directors may determine),
accompanied (except in the case of a transfer by a person to whom the company is not required by law to issue a certificate and to whom
a certificate has not been issued or in the case of a renunciation) by the certificate for the shares to which it relates and such other
evidence as the board of directors may reasonably require to prove the title of the transferor (or person renouncing) and the due execution
of the transfer or renunciation by him or, if the transfer or renunciation is executed by some other person on his behalf, the authority
of that person to do so.

 

Our
board of directors shall not refuse to register any transfer of partly paid shares in respect of which ADSs are admitted to Nasdaq on
the grounds that they are partly paid shares in circumstances where such refusal would prevent dealings in such shares from taking place
on an open and proper basis.

 

Each
shareholder may transfer all or any of his shares which are in uncertificated form by means of a relevant system in such manner provided
for, and subject as provided in, the uncertificated securities rules and the Nasdaq rules. No provision of the Articles applies in respect
of an uncertificated share to the extent that it requires or contemplates the effecting of a transfer by an instrument in writing or
the production of a certificate for the share to be transferred.

 

Allotment
of Shares and Preemption Rights

 

Subject
to the Companies Act and to any rights attached to existing shares, any share may be issued with or have attached to it such rights and
restrictions as the company may by ordinary resolution determine, or if no ordinary resolution has been passed or so far as the resolution
does not make specific provision, as the board of directors may determine (including shares which are to be redeemed, or are liable to
be redeemed at the option of the company or the holder of such shares).

 

In
accordance with Section 551 of the Companies Act, the board of directors may be generally and unconditionally authorized to exercise
all the powers of the company to allot shares up to an aggregate nominal amount equal to the amount stated in the relevant ordinary resolution
authorizing such allotment. The authorities referred to above were included in the ordinary resolutions passed on January 14, 2022.

 

    	 

     

    

 

The
provisions of Section 561 of the Companies Act (which confer on shareholders rights of preemption in respect of the allotment of equity
securities which are paid up in cash) apply to the company except to the extent disapplied by special resolution of the shareholders
of the company. Such preemption rights have been disapplied by a special resolution passed on January 14, 2022.

 

Alteration
of Share Capital

 

The
company may by ordinary resolution consolidate its share capital into shares of larger nominal value than its existing shares, or cancel
any shares which, at the date of the ordinary resolution, have not been taken or agreed to be taken by any person and diminish the amount
of its share capital by the nominal amount of shares so canceled or sub-divide its shares, or any of them, into shares of smaller nominal
value.

 

The
company may, in accordance with the Companies Act, reduce or cancel its share capital or any capital redemption reserve or share premium
account in any manner and with and subject to any conditions, authorities and consents required by law.

 

Board
of Directors

 

Unless
otherwise determined by the company by ordinary resolution, the number of directors (other than any alternate directors) shall not be
less than two and no more than 11.

 

Subject
to the Articles of Association and the Companies Act, the company may by ordinary resolution appoint a person who is willing to act as
a director and the board of directors shall have power at any time to appoint any person who is willing to act as a director, in both
cases either to fill a vacancy or as an addition to the existing board of directors. In addition to any power of removal conferred by
the Companies Acts, the Company may by special resolution, or by ordinary resolution of which special notice has been given in accordance
with section 312 of the Act, remove a Director at any time (without prejudice to a claim for damages for breach of contract or otherwise)
and a director shall be removed from office if all other directors so direct.

 

Subject
to the provisions of the Articles of Association, the board of directors may regulate their proceedings as they deem appropriate. A director
may, and the secretary at the request of a director shall, call a meeting of the directors. The minimum notice required to call a meeting
of the board of directors shall be 7 days, unless such notice is waived by all directors.

 

The
quorum for a meeting of the board of directors is three (including at least one non-executive director and one executive director),

 

The
first chairman of the board shall be the person that holds the office of executive chairman of the Company on the date that the Articles
were adopted, who is Dr Michael Leek, and in the event that he is unable to attend a meeting of the Board he shall be entitled to appoint
another Director to act as chairman and if he does not the directors shall appoint a chairman for the meeting.

 

Questions
and matters requiring resolution arising at a meeting shall be decided by a majority of votes of the participating directors, with each
director having one vote. In the case of an equality of votes, the chairman will have a casting vote or second vote.

 

    	 

     

    

 

The
directors may establish committees of the board and appoint chairpersons and members to such committees, all as it considers appropriate
and at its discretion.

 

Directors
shall be entitled to receive such compensation as the board shall determine for their services to the company as directors, and for any
other service which they undertake for the company. The directors shall also be entitled to be paid all reasonable expenses properly
incurred by them in connection with their attendance at meetings of shareholders or class meetings, board of director or committee meetings
or otherwise in connection with the exercise of their powers and the discharge of their responsibilities in relation to the company.

 

The
board of directors may, in accordance with the requirements in the Articles of Association, authorize any matter proposed to them by
any director which would, if not authorized, involve a director breaching his duty under the Companies Act, to avoid conflicts of interests.

 

A
director seeking authorization in respect of such conflict shall declare to the board of directors the nature and extent of his interest
in a conflict as soon as is reasonably practicable. The director shall provide the board with such details of the matter as are necessary
for the board to decide how to address the conflict together with such additional information as may be requested by the board.

 

Any
authorization by the board of directors will be effective only if:

 

(i)
to the extent permitted by the Companies Act, the matter in question shall have been proposed by any director for consideration in the
same way that any other matter may be proposed to the directors under the provisions of the Articles;

 

(ii)
any requirement as to the quorum for consideration of the relevant matter is met without counting the conflicted director and any other
conflicted director; and

 

(iii)
the matter is agreed to without the conflicted director, or any other interested director, voting; or would be agreed to if the conflicted
director’s and any other interested director’s vote is not counted.

 

Subject
to the provisions of the Companies Act, every director, secretary, or other officer of the company (other than an auditor) is entitled
to be indemnified against all costs, charges, losses, damages, and liabilities incurred by him in the actual purported exercise or discharge
of his duties or exercise of his powers or otherwise in relation to them.

 

General
Meetings

 

The
company must convene and hold an annual general meeting every year and within 6 months of the Companies accounting reference date (which
is currently set at December 31), in accordance with the Companies Act. Under the Companies Act, an annual general meeting must be called
by notice of at least 21 clear days.

 

No
business shall be transacted at any general meeting unless a quorum is present when the meeting proceeds to business, but the absence
of a quorum shall not preclude the choice or appointment of a chairman of the meeting which shall not be treated as part of the business
of the meeting. Two shareholders present in person or by proxy and entitled to vote shall be a quorum for all purposes.

 

    	 

     

    

 

Uncertificated
Shares

 

Subject
to the uncertificated securities rules, the board of directors may permit title to shares of any class to be issued or held otherwise
than by a certificate and to be transferred by means of a “relevant system” (e.g. the depositary or custodian of the ADSs)
without a certificate.

 

The
board of directors may take such steps as it sees fit in relation to the evidencing of and transfer of title to uncertificated shares,
any records relating to the holding of uncertificated shares and the conversion of uncertificated shares to certificated shares, or vice
versa.

 

The
company may by notice to the holder of an uncertificated share, require that share to be converted into certificated form.

 

The
board of directors may take such other action that the board considers appropriate to achieve the sale, transfer, disposal, forfeiture,
re-allotment or surrender of an uncertified share or otherwise to enforce a lien in respect of it.

 

American
Depositary Shares

 

The
Bank of New York Mellon acts as the depositary for the ADSs. As depositary, The Bank of New York Mellon will register and deliver the
ADSs. Each ADS represents one ordinary share (or a right to receive and to exercise the beneficial ownership interests in one ordinary
share) deposited with The Bank of New York Mellon, or any successor, as custodian, acting through an office located in the United Kingdom.
Each ADS will also represent any other securities, cash or other property that may be held by the depositary in respect of the ordinary
shares deposited with it. The deposited shares together with any other securities, cash or other property held by the depositary are
referred to as the deposited securities. The depositary’s office at which the ADSs will be administered and its principal executive
office are located at 240 Greenwich Street, New York, NY 10286.

 

Investors
may hold ADSs either: (A) directly (i) by having an American Depositary Receipt, also referred to as an ADR, which is a certificate evidencing
a specific number of ADSs, registered in the investors name; or (ii) by having uncertificated ADSs registered in the investors name;
or (B) indirectly by holding a security entitlement in ADSs through a broker or other financial institution that is a direct or indirect
participant in The Depository Trust Company, also called DTC. If investors hold ADSs directly, it will be the registered ADS holder,
also referred to as an ADS holder. This description assumes the investor is an ADS holder. If the investors holds the ADSs indirectly,
the investor must rely on the procedures of its broker or other financial institution to assert the rights of ADS holders described in
this section. Investors should consult with their broker or financial institution to find out what those procedures are.

 

Registered
holders of uncertificated ADSs will receive statements from the depositary confirming their holdings.

 

    	 

     

    

 

We
will not treat the ADS holder as one of our shareholders, and the ADS holder will not have shareholder rights. Scottish law governs the
shareholder rights of our company. The depositary will be the holder of the shares underlying the ADSs. As a registered holder of ADSs,
the investor only will have ADS holder rights. A deposit agreement among the company, the depositary, ADS holders and all other persons
indirectly or beneficially holding ADSs sets out ADS holder rights as well as the rights and obligations of the depositary. New York
law governs the deposit agreement and the ADSs.

 

The
following is a summary of the material provisions of the deposit agreement. For more complete information, investors should read the
entire deposit agreement and the form of ADR. Portions of this summary description describe matters that may be relevant to the ownership
of ADSs but that may not be contained in the deposit agreement.

 

Dividends
and other distributions

 

The
depositary has agreed to pay or distribute to ADS holders the cash dividends or other distributions it or the custodian receives on shares
or other deposited securities, upon payment or deduction of its fees, taxes and expenses. investors will receive these distributions
in proportion to the number of shares that the ADSs represent.

 

Cash.

 

The
depositary will convert any cash dividend or other cash distribution we pay on the shares into U.S. dollars, if it can do so on a reasonable
basis and can transfer the U.S. dollars to the United States. If that is not possible or if any government approval is needed and cannot
be obtained, the deposit agreement allows the depositary to distribute the foreign currency only to those ADS holders to whom it is possible
to do so. It will hold the foreign currency it cannot convert for the account of the ADS holders who have not been paid. It will not
invest the foreign currency and it will not be liable for any interest.

 

Before
making a distribution, any withholding taxes, or other governmental charges that must be paid will be deducted. The depositary will distribute
only whole U.S. dollars and cents and will round fractional cents to the nearest whole cent. If the exchange rates fluctuate during a
time when the depositary cannot convert the foreign currency, investors lose some of the value of the distribution.

 

Shares.

 

The
depositary may distribute additional ADSs representing any shares we distribute as a dividend or free distribution. The depositary will
only distribute whole ADSs. It will sell shares which would require it to deliver a fraction of an ADS (or ADSs representing those shares)
and distribute the net proceeds in the same way as it does with cash. If the depositary does not distribute additional ADSs, the outstanding
ADSs will also represent the new shares. The depositary may sell a portion of the distributed shares (or ADSs representing those shares)
sufficient to pay its fees and expenses in connection with that distribution.

 

    	 

     

    

 

Rights
to purchase additional shares.

 

If
we offer holders of our securities any rights to subscribe for additional shares or any other rights, the depositary may: (i) exercise
those rights on behalf of ADS holders; (ii) distribute those rights to ADS holders; or (iii) sell those rights and distribute the net
proceeds to ADS holders, in each case after deduction or upon payment of its fees and expenses. To the extent the depositary does not
do any of those things, it will allow the rights to lapse. In that case, investors will receive no value for them. The depositary will
exercise or distribute rights only if we ask it to and provide satisfactory assurances to the depositary that it is legal to do so. If
the depositary will exercise rights, it will purchase the securities to which the rights relate and distribute those securities or, in
the case of shares, new ADSs representing the new shares, to subscribing ADS holders, but only if ADS holders have paid the exercise
price to the depositary. U.S. securities laws may restrict the ability of the depositary to distribute rights or ADSs or other securities
issued on exercise of rights to all or certain ADS holders, and the securities distributed may be subject to restrictions on transfer.

 

Other
Distributions.

 

The
depositary will send to ADS holders anything else we distribute on deposited securities by any means it thinks is legal, fair and practical.
If it cannot make the distribution in that way, the depositary has a choice. It may decide to sell what we distributed and distribute
the net proceeds, in the same way as it does with cash. Or, it may decide to hold what we distributed, in which case ADSs will also represent
the newly distributed property. However, the depositary is not required to distribute any securities (other than ADSs) to ADS holders
unless it receives satisfactory evidence from us that it is legal to make that distribution. The depositary may sell a portion of the
distributed securities or property sufficient to pay its fees and expenses in connection with that distribution. U.S. securities laws
may restrict the ability of the depositary to distribute securities to all or certain ADS holders, and the securities distributed may
be subject to restrictions on transfer. The depositary is not responsible if it decides that it is unlawful or impractical to make a
distribution available to any ADS holders. We have no obligation to register ADSs, shares, rights or other securities under the Securities
Act. We also have no obligation to take any other action to permit the distribution of ADSs, shares, rights or anything else to ADS holders.
This means that investors may not receive the distributions we make on our shares or any value for them if it is illegal or impractical
for us to make them available to the ADS holder.

 

Deposit,
withdrawal and cancellation

 

The
depositary will deliver ADSs if the investor or its broker deposits shares or evidence of rights to receive shares with the custodian.
Upon payment of its fees and expenses and of any taxes or charges, such as stamp taxes or stock transfer taxes or fees, the depositary
will register the appropriate number of ADSs in the names requested and will deliver the ADSs to or upon the order of the person or persons
that made the deposit.

 

Withdrawal
the deposited securities

 

ADS
holders may surrender their ADSs for the purpose of withdrawal at the depositary’s office. Upon payment of its fees and expenses
and of any taxes or charges, such as stamp taxes or stock transfer taxes or fees, the depositary will deliver the shares and any other
deposited securities underlying the ADSs to the ADS holder or a person the ADS holder designates at the office of the custodian. Or,
at the ADS holders request, risk and expense, the depositary will deliver the deposited securities at its office, if feasible. However,
the depositary is not required to accept surrender of ADSs to the extent it would require delivery of a fraction of a deposited share
or other security. The depositary may charge a fee and its expenses for instructing the custodian regarding delivery of deposited securities.

 

    	 

     

    

 

Interchange
between certificated ADSs and uncertificated ADSs

 

ADS
holders may surrender their ADR to the depositary for the purpose of exchanging the ADR for uncertificated ADSs. The depositary will
cancel that ADR and will send to the ADS holder a statement confirming that the ADS holder is the registered holder of uncertificated
ADSs. Upon receipt by the depositary of a proper instruction from a registered holder of uncertificated ADSs requesting the exchange
of uncertificated ADSs for certificated ADSs, the depositary will execute and deliver to the ADS holder an ADR evidencing those ADSs.

 

Voting
rights

 

ADS
holders may instruct the depositary how to vote the number of deposited shares their ADSs represent. The voting rights of holders of
ordinary shares are described in “Description of share capital and articles of association—Articles of association.”

 

If
we request the depositary to solicit voting instructions (and we are not required to do so) from the ADS holders, the depositary will
notify them of an annual general meeting and send or make voting materials available to the ADS holders. Those materials will describe
the matters to be voted on and explain how the ADS holders may instruct the depositary how to vote. For instructions to be valid, they
must reach the depositary by a date set by the depositary. The depositary will try, as far as practical, subject to the laws of Scotland
and the provisions of our Articles or similar documents, to vote or to have its agents vote the shares or other deposited securities
as instructed by ADS holders. If we do not request the depositary to solicit voting instructions, ADS holder can still send voting instructions,
and, in that case, the depositary may try to vote as instructed, but it is not required to do so.

 

Except
by instructing the depositary as described above, ADS holders will not be able to exercise voting rights unless they surrender the ADSs
and withdraw the shares. However, the ADS holder may not know about the annual general meeting enough in advance to withdraw the shares.
In any event, the depositary will not exercise any discretion in voting deposited securities and it will only vote or attempt to vote
as instructed or as described in the following sentence. If we asked the depositary to solicit instructions at least 45 days before the
meeting date, but the depositary does not receive voting instructions from the ADS holder by the specified date, it will consider that
they have been authorized and directed to give a discretionary proxy to a person designated by us to attend the meeting solely for quorum
purposes, but not to vote the ordinary shares on any matter presented to the shareholders.

 

We
cannot give assurance that ADS holders will receive the voting materials in time to ensure that they can instruct the depositary to vote
their shares. In addition, the depositary and its agents are not responsible for failing to carry out voting instructions or for the
manner of carrying out voting instructions. This means that ADS holders may not be able to exercise voting rights, and there may be nothing
an ADS holder can do if the shares are not voted as requested.

 

In
order to give ADS holders a reasonable opportunity to instruct the depositary as to the exercise of voting rights relating to deposited
securities, if we request the depositary to act, we agree to give the depositary notice of any such meeting and details concerning the
matters to be voted upon at least 45 days in advance of the meeting date.

 

    	 

     

    

 

Fees
and Expenses

 

	Persons
    depositing or withdrawing shares or ADS holders

    must pay:	 	For:
	 	 
	$5.00
    (or less) per 100 ADSs (or portion of 100 ADSs)	 	Issuance
    of ADSs, including issuances resulting from a distribution of shares or rights or other property

    Cancellation
    of ADSs for the purpose of withdrawal, including if the deposit agreement terminates

	 	 
	$0.05
    (or less) per ADS	 	Any
    cash distribution to ADS holders
	 	 
	A
    fee equivalent to the fee that would be payable if securities distributed to the holder had been shares and the shares had been deposited
    for issuance of ADSs	 	Distribution
    of securities distributed to holders of deposited securities (including rights) that are distributed by the depositary to ADS holders
	 	 
	$0.05
    (or less) per ADS per calendar year	 	Depositary
    services
	 	 
	Registration
    or transfer fees	 	Transfer
    and registration of shares on our share register to or from the name of the depositary or its agent when deposited or withdrawn shares
	 	 
	Expenses
    of the depositary	 	Cable
    (including SWIFT), telex and facsimile transmissions (when expressly provided in the deposit agreement)

    Converting
    foreign currency to U.S. dollars

	 	 
	Taxes
    and other governmental charges the depositary or the custodian has to pay on any ADSs or shares underlying ADSs, such as stock transfer
    taxes, stamp duty or withholding taxes	 	As
    necessary
	 	 
	Any
    charges incurred by the depositary or its agents for servicing the deposited securities	 	As
    necessary

 

The
depositary collects its fees for delivery and surrender of ADSs directly from investors depositing shares or surrendering ADSs for the
purpose of withdrawal or from intermediaries acting for them. The depositary collects fees for making distributions to investors by deducting
those fees from the amounts distributed or by selling a portion of distributable property to pay the fees. The depositary may collect
its annual fee for depositary services by deduction from cash distributions or by directly billing investors or by charging the book-entry
system accounts of participants acting for them. The depositary may collect any of its fees by deduction from any cash distribution payable
(or by selling a portion of securities or other property distributable) to ADS holders that are obligated to pay those fees. The depositary
may generally refuse to provide fee-attracting services until its fees for those services are paid.

 

From
time to time, the depositary may make payments to us to reimburse us for costs and expenses generally arising out of establishment and
maintenance of the ADS program, waive fees and expenses for services provided to us by the depositary or share revenue from the fees
collected from ADS holders. In performing its duties under the deposit agreement, the depositary may use brokers, dealers, foreign currency
dealers or other service providers that are owned by or affiliated with the depositary and that may earn or share fees, spreads or commissions.

 

    	 

     

    

 

The
depositary may convert currency itself or through any of its affiliates and, in those cases, acts as principal for its own account and
not as agent, advisor, broker or fiduciary on behalf of any other person and earns revenue, including, without limitation, transaction
spreads, that it will retain for its own account. The revenue is based on, among other things, the difference between the exchange rate
assigned to the currency conversion made under the deposit agreement and the rate that the depositary or its affiliate receives when
buying or selling foreign currency for its own account. The depositary makes no representation that the exchange rate used or obtained
in any currency conversion under the deposit agreement will be the most favorable rate that could be obtained at the time or that the
method by which that rate will be determined will be the most favorable to ADS holders, subject to the depositary’s obligations
under the deposit agreement. The methodology used to determine exchange rates used in currency conversions is available upon request.

 

Payment
of taxes

 

ADS
holders will be responsible for any taxes or other governmental charges payable on the ADSs or on the deposited securities represented
by any of the ADSs. The depositary may refuse to register any transfer of the ADSs or allow a holder to withdraw the deposited securities
represented by the ADSs until those taxes or other charges are paid. It may apply payments owed to the holder or sell deposited securities
represented by the ADSs to pay any taxes owed and the ADS holder will remain liable for any deficiency. If the depositary sells deposited
securities, it will, if appropriate, reduce the number of ADSs to reflect the sale and pay to ADS holders any proceeds, or send to ADS
holders any property, remaining after it has paid the taxes.

 

Tender
and exchange offers; redemption, replacement or cancellation of deposited securities

 

The
depositary will not tender deposited securities in any voluntary tender or exchange offer unless instructed to do so by an ADS holder
surrendering ADSs and subject to any conditions or procedures the depositary may establish.

 

If
deposited securities are redeemed for cash in a transaction that is mandatory for the depositary as a holder of deposited securities,
the depositary will call for surrender of a corresponding number of ADSs and distribute the net redemption money to the holders of called
ADSs upon surrender of those ADSs.

 

If
there is any change in the deposited securities such as a sub-division, combination or other reclassification, or any merger, consolidation,
recapitalization or reorganization affecting the issuer of deposited securities in which the depositary receives new securities in exchange
for or in lieu of the old deposited securities, the depositary will hold those replacement securities as deposited securities under the
deposit agreement. However, if the depositary decides it would not be lawful and practical to hold the replacement securities because
those securities could not be distributed to ADS holders or for any other reason, the depositary may instead sell the replacement securities
and distribute the net proceeds upon surrender of the ADSs.

 

If
there is a replacement of the deposited securities and the depositary will continue to hold the replacement securities, the depositary
may distribute new ADSs representing the new deposited securities or ask the ADS holder to surrender their outstanding ADRs in exchange
for new ADRs identifying the new deposited securities.

 

    	 

     

    

 

If
there are no deposited securities underlying ADSs, including if the deposited securities are cancelled, or if the deposited securities
underlying ADSs have become apparently worthless, the depositary may call for surrender of those ADSs or cancel those ADSs upon notice
to the ADS holders.

 

Amendment
and termination

 

We
may agree with the depositary to amend the deposit agreement and the ADRs without the consent of the ADS holders for any reason. If an
amendment adds or increases fees or charges, except for taxes and other governmental charges or expenses of the depositary for registration
fees, facsimile costs, delivery charges or similar items, or prejudices a substantial right of ADS holders, it will not become effective
for outstanding ADSs until 30 days after the depositary notifies ADS holders of the amendment. At the time an amendment becomes effective,
the ADS holder will be considered, by continuing to hold ADSs, to have agreed to the amendment and to be bound by the ADRs and the deposit
agreement as amended.

 

The
depositary will initiate termination of the deposit agreement if we instruct it to do so. The depositary may initiate termination of
the deposit agreement if:

 

●
60 days have passed since the depositary told us it wants to resign but a successor depositary has not been appointed and accepted its
appointment;

 

●
we delist the ADSs from an exchange in the United States on which they were listed and do not list the ADSs on another exchange in the
United States or make arrangements for trading of ADSs on the U.S. over-the-counter market;

 

●
we delist our shares from an exchange outside the United States on which they were listed and do not list the shares on another exchange
outside the United States;

 

●
the depositary has reason to believe the ADSs have become, or will become, ineligible for registration on Form F-6 under the Securities
Act of 1933, as amended;

 

●
we appear to be insolvent or enter insolvency proceedings;

 

●
all or substantially all the value of the deposited securities has been distributed either in cash or in the form of securities;

 

●
there are no deposited securities underlying the ADSs or the underlying deposited securities have become apparently worthless; or

 

●
there has been a replacement of deposited securities.

 

If
the deposit agreement will terminate, the depositary will notify ADS holders at least 90 days before the termination date. At any time
after the termination date, the depositary may sell the deposited securities. After that, the depositary will hold the money it received
on the sale, as well as any other cash it is holding under the deposit agreement, unsegregated and without liability for interest, for
the pro rata benefit of the ADS holders that have not surrendered their ADSs. Normally, the depositary will sell as soon as practicable
after the termination date.

 

    	 

     

    

 

After
the termination date and before the depositary sells, ADS holders can still surrender their ADSs and receive delivery of deposited securities,
except that the depositary may refuse to accept a surrender for the purpose of withdrawing deposited securities or reverse previously
accepted surrenders of that kind that have not settled if it would interfere with the selling process. The depositary may refuse to accept
a surrender for the purpose of withdrawing sale proceeds until all the deposited securities have been sold. The depositary will continue
to collect distributions on deposited securities, but, after the termination date, the depositary is not required to register any transfer
of ADSs or distribute any dividends or other distributions on deposited securities to the ADSs holder (until they surrender their ADSs)
or give any notices or perform any other duties under the deposit agreement except as described in this paragraph.

 

Limitations
on obligations and liability

 

The
deposit agreement expressly limits our obligations and the obligations of the depositary. It also limits our liability and the liability
of the depositary. We and the depositary:

 

●
are only obligated to take the actions specifically set forth in the deposit agreement without negligence or bad faith, and the depositary
will not be a fiduciary or have any fiduciary duty to holders of ADSs;

 

●
are not liable if we are or it is prevented or delayed by law or by events or circumstances beyond our or its ability to prevent or counteract
with reasonable care or effort from performing our or its obligations under the deposit agreement;

 

●
are not liable if we or it exercises discretion permitted under the deposit agreement;

 

●
are not liable for any action or inaction in reliance on the advice or information received from legal counsel, accountants, any person
presenting ordinary shares for deposit, any holder of ADSs or authorized representatives thereof, or any other person believed by either
of us in good faith to be competent to give such advice or information;

 

●
are not liable for the inability of any holder of ADSs to benefit from any distribution on deposited securities that is not made available
to holders of ADSs under the terms of the deposit agreement, or for any special, consequential or punitive damages for any breach of
the terms of the deposit agreement;

 

●
have no obligation to become involved in a lawsuit or other proceeding related to the ADSs or the deposit agreement on behalf of the
ADS holder or on behalf of any other person;

 

●
may rely upon any documents we believe or it believes in good faith to be genuine and to have been signed or presented by the proper
person;

 

    	 

     

    

 

●
are not liable for the acts or omissions of any securities depository, clearing agency or settlement system; and

 

●
the depositary has no duty to make any determination or provide any information as to our tax status, or any liability for any tax consequences
that may be incurred by ADS holders as a result of owning or holding ADSs or be liable for the inability or failure of an ADS holder
to obtain the benefit of a foreign tax credit, reduced rate of withholding or refund of amounts withheld in respect of tax or any other
tax benefit.

 

In
the deposit agreement, we and the depositary agree to indemnify each other under certain circumstances.

 

Requirements
for depositary actions

 

Before
the depositary will deliver or register a transfer of ADSs, make a distribution on ADSs, or permit withdrawal of shares, the depositary
may require:

 

●
payment of stock transfer or other taxes or other governmental charges and transfer or registration fees charged by third parties for
the transfer of any shares or other deposited securities;

 

●
satisfactory proof of the identity and genuineness of any signature or other information it deems necessary; and

 

●
compliance with regulations it may establish, from time to time, consistent with the deposit agreement, including presentation of transfer
documents.

 

The
depositary may refuse to deliver ADSs or register transfers of ADSs when the transfer books of the depositary or our transfer books are
closed or at any time if the depositary or we think it advisable to do so.

 

Right
to receive the shares underlying ADSs

 

ADS
holders have the right to cancel their ADSs and withdraw the underlying shares at any time except:

 

●
when temporary delays arise because: (i) the depositary has closed its transfer books or we have closed our transfer books; (ii) the
transfer of shares is blocked to permit voting at an annual general meeting; or (iii) we are paying a dividend on our shares;

 

●
when the ADS holder owes money to pay fees, taxes and similar charges; or

 

●
when it is necessary to prohibit withdrawals in order to comply with any laws or governmental regulations that apply to ADSs or to the
withdrawal of shares or other deposited securities.

 

This
right of withdrawal may not be limited by any other provision of the deposit agreement.

 

    	 

     

    

 

Direct
registration system

 

In
the deposit agreement, all parties to the deposit agreement acknowledge that the Direct Registration System, also referred to as DRS,
and Profile Modification System, also referred to as Profile, will apply to the ADSs. DRS is a system administered by DTC that facilitates
interchange between registered holding of uncertificated ADSs and holding of security entitlements in ADSs through DTC and a DTC participant.
Profile is a feature of DRS that allows a DTC participant, claiming to act on behalf of a registered holder of uncertificated ADSs, to
direct the depositary to register a transfer of those ADSs to DTC or its nominee and to deliver those ADSs to the DTC account of that
DTC participant without receipt by the depositary of prior authorization from the ADS holder to register that transfer.

 

In
connection with and in accordance with the arrangements and procedures relating to DRS/Profile, the parties to the deposit agreement
understand that the depositary will not determine whether the DTC participant that is claiming to be acting on behalf of an ADS holder
in requesting registration of transfer and delivery as described in the paragraph above has the actual authority to act on behalf of
the ADS holder (notwithstanding any requirements under the Uniform Commercial Code). In the deposit agreement, the parties agree that
the depositary’s reliance on and compliance with instructions received by the depositary through the DRS/Profile system and in
accordance with the deposit agreement will not constitute negligence or bad faith on the part of the depositary.

 

Books
of depositary; shareholder communications; inspection of register of holders of ADSs

 

The
depositary will maintain ADS holder records at its depositary office. The depositary will make available for inspection at its office
all communications that it receives from us as a holder of deposited securities that we make generally available to holders of deposited
securities. The depositary will send copies of those communications or otherwise make those communications available to ADS holders if
we ask it to. ADS holders have a right to inspect the register of holders of ADSs, but not for the purpose of contacting those holders
about a matter unrelated to our business or the ADSs.

 

Jury
trial waiver

 

The
deposit agreement provides that, to the extent permitted by law, ADS holders waive the right to a jury trial of any claim they may have
against us or the depositary arising out of or relating to our shares, the ADSs or the deposit agreement, including any claim under the
U.S. federal securities laws. If we or the depositary opposed a jury trial demand based on the waiver, the court would determine whether
the waiver was enforceable in the facts and circumstances of that case in accordance with applicable case law.

 

ADS
holders will not, by agreeing to the terms of the deposit agreement, be deemed to have waived our or the depositary’s compliance
with U.S. federal securities laws or the rules and regulations promulgated thereunder.

 

Public
Warrants

 

The
following is a brief summary of certain terms and conditions of the public Warrants and is subject in all respects to the provisions
contained in the public Warrant Agent Agreement. Investors should review a copy of the form of Warrant and Warrant Agent Agreement filed
with the SEC for a complete description of the terms and conditions applicable to the Warrants.

 

    	 

     

    

 

Form

 

The
Warrants will be issued in electronic certificated form. Warrant holders, however, may request a certificated form of Warrant.

 

Term

 

The
Warrants will be exercisable on the date of issuance and will expire on the sixth anniversary of the date of issuance.

 

Exercisability

 

The
Warrants will be exercisable, at the option of each holder, by delivering to us a duly executed exercise notice and cash payment in full
for the number of ADSs purchased upon such exercise. We are required to maintain a registration statement to be effective at the time
a Warrant may be exercised, and if we do not do so, then the Warrants will have a net-exercise right. The net-exercise basis is based
on a formula using the VWAP immediately prior to exercise. The original Holder has paid $0.005 towards the nominal value of the Warrant
Shares to be used in the event of a cashless exercise and, no additional consideration for the nominal value shall be required to be
paid by the Holder to effect an exercise of this Warrant. The Holder shall not be entitled to the return or refund of all, or any portion,
of such pre-funded nominal value under any circumstance or for any reason whatsoever, including in the event this Warrant shall not have
been exercised prior to the Termination Date. If the Warrants are not exercised before they expire, in six years, the Warrants will expire
and be of no further value and all the rights under the Warrants will terminate. We do not intend to offer any “broker protect
period” or other exceptions for not timely exercising a Warrant after they expire; therefore investors should monitor, with their
broker, the expiration date and take steps to exercise the Warrant on a timely basis.

 

Exercise
Price

 

The
exercise price of the Warrants is $4.25 per ADS. The exercise price is subject to appropriate adjustment in the event of certain stock
splits, stock combinations, stock dividends, recapitalizations or otherwise. The exercise price will also be downward adjusted if we,
or through a subsidiary, sell or enter into an agreement to sell, grant an option to sell, reprice an outstanding security to acquire
ordinary shares at a price less than $4.25. The downward adjustment will to the price of the newly issued security or adjusted price
of the outstanding security, but not less than a floor price set forth in the terms of the Warrants, which is subject to adjustment for
stock splits, combinations and recapitalizations, as above. The downward adjustment will not be made if the Company entered into certain
delineated types of transactions, including employment related option and similar security grants, exercise of such options and security
grants, exercises of currently outstanding securities so long as not repriced, and issuances for acquisitions, strategic transactions,
vendors, equipment leasing, licensing, collaborations, and the like so long as they are non-capital raising transactions.

 

Delivery
of ADSs

 

We
shall cause our Depositary to deliver the ADSs for the ordinary shares underlying the Warrants to the holders exercising Warrants by
no later than 5:00 P.M. New York City time on the fifth trading day following the Warrants exercise date, provided the funds in payment
of the exercise price for such Warrants have cleared on the trading day following the exercise date.

 

    	 

     

    

 

No
Fractional Shares

 

No
fractional shares or scrip representing fractional shares shall be issued upon the exercise of the Warrants, and the number of Warrants
will be rounded to the nearest whole number.

 

Transferability

 

Subject
to applicable laws and the restriction on transfer set forth in the Warrant, the Warrant may be transferred at the option of the holder
in accordance with the procedures set forth in the Warrant.

 

Authorized
Shares

 

During
the period the Warrants are outstanding, we will reserve from our authorized and unissued ordinary shares a sufficient number of shares
to provide for the issuance of the ADSs underlying the Warrants upon the exercise of the Warrants.

 

Subsequent
Rights Offerings

 

Warrant
holders will be entitled to be distributed any purchase rights that the Company distributes generally to its holders of ordinary shares
or other securities, which rights will be on the same terms.

 

Pro
Rata Distributions

 

Warrant
holders will be entitled to distributions by the Company, in the manner of dividends and other forms of property or assets distributed
to the holders of ordinary shares in proportion to the ADS acquirable upon complete exercise of the Warrants.

 

Fundamental
Transactions

 

In
the event of any corporate transaction, as described in the Warrant Agent Agreement and generally including, a reclassification of our
capital, any merger, combination or consolidation with or into another entity, sale of all or substantially all of our assets, tender
offer or exchange offer, then the holder shall have the right to receive for each ordinary share that would have been issuable upon exercise
of the Warrants immediately prior to the occurrence of the corporate transaction, the number of ordinary shares of the successor or acquiring
corporation and any additional consideration receivable upon or as a result of such transaction by a holder of the number of ordinary
shares for which the Warrant is exercisable immediately prior to such event. At the Warrant holder’s option, exercisable at any
time concurrently with, or within 30 days after, the consummation of a fundamental transaction, the company or successor entity shall
purchase the Warrant from the holder by paying an amount of cash equal to the Black Scholes Value (as defined in and calculated under
the terms of the Warrant) of the remaining unexercised portion of the Warrant on the date of the consummation of the fundamental transaction;
provided, if the fundamental transaction is not within the company’s control, including not approved by the company’s board
of directors, the holder shall only be entitled to receive from the Company or any successor entity the same type or form of consideration
(and in the same proportion), at the Black Scholes Value of the unexercised portion of the Warrant, that is being offered and paid to
the holders of ordinary shares of the Company in connection with the fundamental transaction, whether that consideration be in the form
of cash, stock or any combination thereof, or whether the holders of ordinary shares are given the choice to receive from among alternative
forms of consideration in connection with the fundamental transaction; provided, further, that if holders of ordinary shares are not
offered or paid any consideration in such fundamental transaction, the holders will be deemed to have received common stock of the successor
entity.

 

Right
as a Shareholder

 

Except
as otherwise provided in the Warrants or by virtue of such holder’s ownership of our ordinary shares, the holders of the Warrants
do not have the rights or privileges of holders of our ADSs until they receive the ADSs underlying the Warrants.

 

Waivers
and Amendments

 

Any
term of the Warrants may be amended or waived with the written consent of holders of the Warrants.

 

Warrant
Agent

 

The
warrant agent for the Warrants is Computershare Inc., a Delaware corporation, and its wholly owned subsidiary, Computershare Trust Company,
N.A., a federally chartered trust company,Exhibit 4.1

 

WARRANT AGREEMENT

 

THIS
WARRANT AGREEMENT (this “Agreement”), dated as of May 9, 2022, is by and between Global Blockchain Acquisition
Corp., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New York
corporation, as warrant agent (in such capacity, the “Warrant 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 share of common stock of the Company, par value $0.0001 per share (“Common Stock”),
one right (the “Rights”), and one redeemable Public Warrant (as defined below) (the “Public Units”)
and, in connection therewith, has determined to issue and deliver up to 15,000,000 warrants (or up to 17,250,000 warrants if the Over-allotment
Option (as defined below) is exercised in full) to public investors in the Offering (the “Public Warrants”);
and

 

WHEREAS, the Company has
received binding commitments from Global Blockchain Sponsor, LLC (the “Sponsor”) and I-Bankers Securities, Inc.,
the representative of the underwriters for the Public Offering (the “Representative”), and/or certain of its
designees or affiliates, to purchase up to an aggregate of 8,250,000 warrants (including up to 750,000 warrants subject to the Over-allotment
Option) (“Private Placement Warrants”) bearing the legend set forth in Exhibit B hereto, in a private
placement transaction to occur simultaneously with the consummation of the Public Offering; and

 

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 certain of the Company’s executive 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 (the “Working Capital Warrants”) at a price of $1.00 per warrant; and

 

WHEREAS,
following consummation of the Offering, the Company may issue additional warrants (“Post IPO Warrants,” and,
together with the Private Placement Warrants, the Working Capital Warrants and the Public Warrants, the “Warrants”)
in connection with, or following the consummation by the Company of, a Business Combination (defined below); and

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “Commission”) a registration statement
on Form S-1, File No. 333-264396 (the “Registration Statement”) and prospectus (the “Prospectus”),
for the registration, under the Securities Act of 1933, as amended (the “Securities Act”), of the Public Units,
the Public Warrants and the Common Stock included in the Public Units; and

 

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; and

 

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 (if a physical certificate is issued), as provided herein, the valid, binding and legal
obligations of the Company, and to authorize the execution and delivery of this Agreement.

 

    1

     

    

 

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 initially be issued in registered form only, and, if a physical certificate is issued, shall be in
substantially the form of Exhibit A 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.

 

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. 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 in book-entry form, 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
certificates (each, a “Book-Entry Warrant Certificate”) 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 A, 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

     

    

 

2.4 Detachability
of Warrants. The Common Stock and Public Warrants comprising the Public 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 the Representative, as representative
of the several underwriters, but in no event shall the Common Stock, Rights and the Public Warrants comprising the Public 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 then received by the Company from the exercise
by the underwriters of their right to purchase additional Public Units in the Offering (the “Over-Allotment Option”),
if the Over- Allotment Option is exercised prior to the filing of the Form 8-K and (B) the Company issues a press release and files with
the Commission a Current Report on Form 8-K announcing when such 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 share of Common Stock, one Right and one-half of one Warrant. If, upon the detachment of Public Warrants
from the Public 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 the 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 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 Common Stock issuable upon exercise of the Private Placement
Warrants and the 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 (as defined below), (iii) shall not be redeemable by the Company pursuant to Section 6.1 hereof
and (iv) if issued to the Representative, will not be exercisable more than five years from the effective date of the Registration Statement
in accordance with FINRA Rule 5110(g)(8)(A); provided, however, that in the case of (ii), the Private Placement Warrants, the Working
Capital Warrants and any shares of Common Stock held by the Sponsor, the Representative or any of their respective Permitted Transferees,
as applicable, and any shares of Common Stock 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 or any affiliate of the Representative or to any of the Representative’s
officers, directors or member(s) or any of their respective 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;

 

    3

     

    

 

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

 

(e) by
private sales or transfers made in connection with the consummation of the Company’s initial Business Combination at prices no greater
than the price at which the Private Placement Warrants, the Working Capital Warrants or Common Stock, as applicable, were originally purchased;

 

(f) by
virtue of the laws of the State of Delaware or the respective organizational documents of the Sponsor or the Representative upon liquidation
or dissolution of the Sponsor, the Representative, as applicable;

 

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

 

(h) to
the Company for no value for cancellation in connection with the consummation of an initial Business Combination; or

 

(i) in
the event that, subsequent to the consummation of a Business Combination, the Company completes a liquidation, merger, capital stock exchange
or other similar transaction which results in all of the Company’s stockholders having the right to exchange their Common Stock
for cash, securities or other property;

 

provided, however,
that, in the case of clauses (a) through (f), these permitted 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 the date hereof, by and among the Company, the Sponsor and the Company’s officers and directors.
Notwithstanding the foregoing, with respect to any Private Placement Warrants held by the Representative and/or its designees or affiliates,
in addition to the foregoing restriction on transfer of the Private Placement Warrants, the Private Placement Warrants purchased by the
Representative and/or its designees or affiliates are subject to Rule 5110(e) of the FINRA Manual and shall not be sold during the Offering,
or sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the date of effectiveness of the
Registration Statement or commencement of sales of the Offering, subject to certain limited exceptions in accordance with FINRA Rule 5110(e)(1).
Additionally, the Private Placement Warrants purchased by the Representative and/or its designees or affiliates shall not be the subject
of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of the securities
by any person for a period of 180 days immediately following the date of effectiveness of the Registration Statement or commencement of
sales of the Offering.

 

2.7 Post-IPO
Warrants. Each of the Post-IPO Warrants, when and if issued, shall have the same terms and be in the same form as the Public Warrants
except as may be agreed upon by the Company.

 

3. Terms
and Exercise of Warrants.

 

3.1 Warrant
Price. Each 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 shares of Common Stock 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) described in the prior sentence at which shares of Common Stock 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 (unless otherwise required by the Commission, any national securities exchange
on which the Warrants are listed or applicable law); provided, that the Company shall provide at least twenty (20) days prior written
notice of such reduction to Registered Holders of the Warrants; provided further that any such reduction shall be identical among all
of the Warrants.

 

    4

     

    

 

3.2 Duration
of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) commencing on the
date that is thirty (30) days after the first date on which the Company completes a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination, involving the Company and one or more businesses (a “Business
Combination”), and terminating at 5:00 p.m., New York City time on the earlier to occur of: (x) 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 or (z) other
than with respect to the Private Placement Warrants and the Working Capital Warrants, the Redemption Date (as defined below) as provided
in Section 6.2 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 a Private Placement Warrant or a Working Capital Warrant), 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 in the event of a
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 twenty (20) 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. Notwithstanding anything to the contrary contained herein, any Private Placement Warrant issued to
the Representative will not be exercisable more than (5) five years after the effective date of the Registration Statement in accordance
with FINRA Rule 5110(g)(8)(A).

 

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”) any shares
of Common Stock 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 full share of Common Stock 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 shares of Common Stock and the issuance of such shares of Common Stock, as follows:

 

(a) by
certified check payable to the order of the Warrant Agent or by wire transfer;

 

(b) in
the event of a redemption pursuant to Section 6 hereof in which the Company’s board of directors (the “Board”)
has elected to require all holders of the Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants
for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common
Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value”, as defined
in this subsection 3.3.1(b), by (y) the Fair Market Value. Solely for purposes of this subsection 3.3.1(b) and Section 6.3, the “Fair
Market Value” shall mean the average reported last sale price of the Common Stock for the ten (10) trading days ending on the third
trading day prior to the date on which the notice of redemption is sent to the holders of the Warrants, pursuant to Section 6 hereof;

 

    5

     

    

 

(c) with
respect to any Private Placement Warrant or Working Capital Warrant, by surrendering the Warrants for that number of shares of Common
Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied
by the difference between the Warrant Price and the “Fair Market Value”, as defined in this subsection 3.3.1(c), by (y) the
Fair Market Value. Solely for purposes of this subsection 3.3.1(c), the “Fair Market Value” shall mean the average reported
last sale price of the Common Stock for the ten (10) trading days ending on the third trading day prior to the date on which notice of
exercise of the Private Placement Warrant or Working Capital Warrant is sent to the Warrant Agent; or

 

(d) as
provided in Section 7.4 hereof.

 

3.3.2 Issuance
of Shares of Common Stock 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 full shares of Common Stock 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 shares of Common Stock 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 shares of Common Stock 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 with respect to the shares of Common Stock underlying 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. No Warrant
shall be exercisable and the Company shall not be obligated to issue shares of Common Stock upon exercise of a Warrant unless the Common
Stock issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt from registration or qualification under
the securities laws of the state of residence of the Registered Holder of the Warrants. In the event that the conditions in the two immediately
preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant 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 Warrants shall have
paid the full purchase price for the Unit solely for the shares of Common Stock underlying such Unit. In no event will the Company be
required to net cash settle the Warrant exercise. Subject to Section 4.6 of this Agreement, a Registered Holder of Warrants may exercise
its Warrants only for a whole number of Common Stock. The Company may require holders of Public Warrants to settle the Warrant on a “cashless
basis” pursuant to subsection 3.3.1(b) and 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 a share of Common
Stock, the Company shall round down to the nearest whole number, the number of shares of Common Stock to be issued to such holder.

 

3.3.3 Valid
Issuance. All shares of Common Stock 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 shares of Common Stock is issued
shall for all purposes be deemed to have become the holder of record of such shares of Common Stock 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 shares of Common Stock at the close of business on the next succeeding date on which the share transfer books
or book-entry system are open.

 

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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 affect 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 and any of its affiliates
or any other person subject to aggregation with such person for purposes of the “beneficial ownership” test under Section
13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or any “group” (within the meaning
of Section 13 of the Exchange Act) of which such person is or may be deemed to be a part, to the Warrant Agent’s actual knowledge,
would beneficially own (within the meaning of Section 13 of the Exchange Act) (or to the extent that for any reason the equivalent calculation
under Section 16 of the Exchange Act and the rules and regulations thereunder would result in a higher ownership percentage, such higher
percentage would be) in excess of 4.9% or 9.8% (or such other amount as a holder may specify) (the “Maximum Percentage”)
of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the
aggregate number of shares of Common Stock beneficially owned by such person and its affiliates or any such other person or group shall
include the number of shares of Common Stock issuable upon exercise of the Warrant with respect to which the determination of such sentence
is being made, but shall exclude shares of Common Stock 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 stock 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 outstanding shares of Common Stock, the holder may rely on the number of outstanding shares
of Common Stock 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 Continental Stock Transfer & Trust Company, as transfer agent (in such capacity, the “Transfer
Agent”) setting forth the number of shares of Common Stock 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 shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock 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 outstanding shares of Common Stock 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 Stock
Dividends.

 

4.1.1 Split-Ups.
If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding shares of Common Stock is increased
by a stock dividend payable in shares of Common Stock, or by a split-up of shares of Common Stock or other similar event, then, on the
effective date of such stock dividend, share split-up or similar event, the number of shares of Common Stock issuable on exercise of each
Warrant shall be increased in proportion to such increase in the outstanding shares of Common Stock. A rights offering to holders of the
Common Stock entitling holders to purchase shares of Common Stock at a price less than the “Fair Market Value” (as defined
below) shall be deemed a stock dividend of a number of shares of Common Stock equal to the product of (i) the number of shares of Common
Stock actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible
into or exercisable for the Common Stock) and (ii) one (1) minus the quotient of (x) the price per share of Common Stock paid in such
rights offering divided by (y) the Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities
convertible into or exercisable for Common Stock, in determining the price payable for Common Stock, 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) “Fair
Market Value” means the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending
on the trading day prior to the first date on which the shares of Common Stock trade on the applicable exchange or in the applicable market,
regular way, without the right to receive such rights.

 

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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 the Common Stock on account of such shares of Common Stock (or other shares of the
Company’s capital stock 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 the Common Stock in connection with a proposed
initial Business Combination, (d) as a result of the repurchase of shares of Common Stock by the Company if a proposed Business Combination
is presented to the stockholders of the Company for approval, (e) to satisfy the redemption rights of the holders of Common Stock in connection
with a stockholder vote to amend the Company’s amended and restated certificate of incorporation (i) to modify the substance or
timing of the Company’s obligation to redeem 100% of the public shares of Common Stock if the Company does not complete the Business
Combination within the period set forth in the Company’s amended and restated certificate of incorporation or (ii) with respect
to any other provision relating to the rights of holders of Common Stock or pre-initial Business Combination activity or (f) in connection
with the redemption of public shares of Common Stock 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 share of Common Stock 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 Common Stock 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 shares of
Common Stock issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Public Units in the Offering).

 

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

 

4.3 Adjustments
in Exercise Price.

 

4.3.1 Whenever
the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided in Section 4.1 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 shares of Common Stock purchasable upon the exercise of the Warrants immediately
prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so purchasable immediately thereafter.

 

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4.3.2 If
(i) the Company issues additional shares of Common Stock or securities convertible into or exercisable or exchangeable for shares of Common
Stock for capital raising purposes in connection with the closing of its initial Business Combination at an issue price or effective issue
price of less than $9.20 per share of Common Stock, 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 Sponsor or its affiliates, without taking into account any shares of Common Stock issued
held by the Sponsor or affiliates, as applicable, prior to such issuance) (the “New Issuance Price”), (ii) the
aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for
the funding of the Company’s initial Business Combination on the date of the consummation thereof (net of redemptions) and (iii)
the volume weighted average trading price of the Common Stock during the twenty (20) trading day period starting on the trading day prior
to the day on which the Company consummates its initial 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 New Issuance Price and the Redemption Trigger Price (as defined below) shall be adjusted to equal to 180% of 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 shares of Common Stock
(other than a change under Section 4.1, Section 4.2 or Section 4.3 hereof or that solely affects the par value of such shares of Common
Stock), 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 shares of Common Stock), 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 shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise
of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable
upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the
holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately prior to such event (the
“Alternative Issuance”). If any reclassification or reorganization also results in a change in shares of Common
Stock covered by Section 4.1, Section 4.2 or Section 4.3, then such adjustment shall be made pursuant to Section 4.1, Section 4.2, Section
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 shall the Warrant Price be reduced to less than the par value per share issuable
upon exercise of such Warrant.

 

4.5 Notices
of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares of Common Stock 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 shares of Common Stock 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.

 

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4.6 No
Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue fractional
shares of Common Stock upon the exercise 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 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 shares of Common Stock 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 shares of Common Stock 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, provided, however, that under no circumstances
shall the Warrants be adjusted pursuant to this Section 4.8 as a result of any issuance of securities in connection with the Business
Combination. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such
opinion.

 

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 certificated Warrants, 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.

 

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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 and the Working Capital 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.
Subject to Section 6.4 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time
while they are exercisable and prior to their expiration, at the office of the Warrant Agent, upon notice to the Registered Holders of
the Warrants, as described in Section 6.2 below, at the price of $0.01 per Warrant (the “Redemption Price”),
provided that the reported last sale price of the Common Stock has been at least $18.00 per share (subject to adjustment in compliance
with Section 4 hereof) (the “Redemption Trigger Price”), on each of twenty (20) trading days within the thirty
(30) trading-day period ending on the third Business Day prior to the date on which notice of the redemption is given and provided that
there is an effective registration statement covering the issuance of shares of Common Stock issuable upon exercise of the Warrants, and
a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section 6.2 below) or the Company
has elected to require the exercise of the Warrants on a “cashless basis” pursuant to subsection 3.3.1; provided, however,
that if and when the Public Warrants become redeemable by the Company, the Company may not exercise such redemption right if the issuance
of shares of Common Stock upon exercise of the Public Warrants is not exempt from registration or qualification under applicable state
blue sky laws or the Company is unable to effect such registration or qualification.

 

6.2 Date
Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants, 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, 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.

 

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6.3 Exercise
After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with subsection
3.3.1(b) of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof
and prior to the Redemption Date. In the event that the Company determines to require all holders of Warrants to exercise their Warrants
on a “cashless basis” pursuant to subsection 3.3.1, the notice of redemption shall contain the information necessary to calculate
the number of shares of Common Stock to be received upon exercise of the Warrants, including the “Fair Market Value” (as such
term is defined in subsection 3.3.1(b) hereof) in such case. 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.

 

6.4 Exclusion
of Private Placement Warrants and Working Capital Warrants. The Company agrees that the redemption rights provided in this Section
6 shall not apply to the Private Placement Warrants or the Working Capital Warrants.

 

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

 

7.1 No
Rights as Stockholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a stockholder 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 stockholders in respect of the meetings of stockholders or the election 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 Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common
Stock that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

7.4 Registration
of Common Stock; Cashless Exercise at Company’s Option.

 

7.4.1 Registration
of the Common Stock. 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 best efforts to file with the Commission a registration statement registering,
under the Securities Act, the issuance of the shares of Common Stock issuable upon exercise of the Warrants. The Company shall use its
best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus
relating thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement. If any such registration statement
has not been declared effective by the sixtieth (60th) Business Day following the closing of the Business Combination, holders of the
Warrants shall have the right, during the period beginning on the sixty-first (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 shares of Common Stock issuable upon exercise of the Warrants,
to exercise such Warrants on a “cashless basis,” 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 shares of Common Stock equal to the quotient obtained by dividing
(x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between the Warrant Price
and the “Fair Market Value” (as defined below) by (y) the Fair Market Value. Solely for purposes of this subsection 7.4.1,
“Fair Market Value” shall mean the volume weighted average price of the Common Stock as reported during 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 shares of Common Stock 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.

 

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7.4.2 Cashless
Exercise at Company’s Option. If the Common Stock is at the time of any exercise of a Public Warrant not listed on a national
securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities
Act (or any successor statute), the Company may, at its option, (i) 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
statute) as described in subsection 7.4.1 and (ii) 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 Common Stock issuable upon exercise of the Warrants,
notwithstanding anything in this Agreement to the contrary. If the Company does not elect at the time of exercise to require a holder
of Public Warrants who exercises Public Warrants to exercise such Public Warrants on a “cashless basis,” it agrees to use
its best efforts to register or qualify for sale the Common Stock issuable upon exercise of the Public Warrant under applicable 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 shares of Common Stock 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 shares of Common Stock.

 

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 or other entity 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 Common Stock not later than the effective date of any such appointment.

 

    13

     

    

 

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 shares of Common Stock to be issued pursuant to this Agreement or any Warrant
or as to whether any shares of Common Stock shall, when issued, be valid and fully paid and non-assessable.

 

    14

     

    

 

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 shares of Common Stock 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 Continental Stock Transfer & Trust Company 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:

 

Global Blockchain Acquisition
Corp.

6555 Sanger Road, Suite
200

Orlando, Florida 32827

Attn: Chief Executive Officer

 

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, New York 10004

Attn: Compliance Department

 

with a copy in each case
to:

 

ArentFox Schiff LLP

1717 K Street NW

Washington, DC 20006

Attn: Ralph V. De Martino,
Esq.

 

    15

     

    

 

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, without giving effect to conflicts of law principles that would result in the application
of the substantive laws of another jurisdiction. 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 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, corporation
or other entity other than the parties hereto and the Registered Holders of the Warrants and, for purposes of Sections 7.4, 9.4 and 9.8,
the Representative, 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, for purposes of Sections 7.4, 9.4 and 9.8, the Representative, and their respective 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.

 

    16

     

    

 

9.6 Counterparts.
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.

 

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 (i) for the purpose of curing any ambiguity,
or curing, correcting or supplementing any mistake, including to confirm the provisions of this Agreement to the description of the terms
of the Warrants and this Agreement set forth in the Prospectus, or any 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, and (ii) to provide for the delivery of Alternative
Issuance pursuant to Section 4.4. All other modifications or amendments, including any amendment to increase the Warrant Price or shorten
the Exercise Period, shall require the vote or written consent of the Registered Holders of a majority of the then outstanding Public
Warrants. Any amendment solely to the Private Placement Warrants or the Working Capital Warrants shall require the vote or written consent
of a majority of the holders of the then outstanding Private Placement Warrants or the Working Capital Warrants, as applicable. 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]

 

    17

     

    

 

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

 

	 	GLOBAL BLOCKCHAIN ACQUISITION CORP.
	 	 
	 	By:	/s/ Jonathan Morris
	 	Name:	Jonathan Morris
	 	Title:	Chief Financial Officer
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
	 	 
	 	By:	/s/ Erika Young
	 	Name:	Erika Young
	 	Title:	Vice President

 

[Signature Page to Warrant Agreement]

 

     

     

    

 

EXHIBIT A

[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

GLOBAL BLOCKCHAIN ACQUISITION CORP.

Incorporated Under the Laws of the State of
Delaware

 

CUSIP 37961B 120

Warrant Certificate

 

This
Warrant Certificate certifies that, or registered assigns, is the registered holder of warrant(s) evidenced hereby (the “Warrants”
and each, a “Warrant”) to purchase shares of common stock, $0.0001 par value per share (“Common
Stock”), of GLOBAL BLOCKCHAIN ACQUISITION CORP., a Delaware corporation (the “Company”). Each
Warrant entitles the holder, upon exercise during the period set forth in the Warrant Agreement referred to below, to receive from the
Company that number of fully paid and non-assessable shares of Common Stock as set forth below, at the exercise price (the “Exercise
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
Exercise 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
Warrant is initially exercisable for one fully paid and non-assessable share of Common Stock. 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 a share of
Common Stock, the Company will, upon exercise, round down to the nearest whole number the number of shares of Common Stock to be issued
to the Warrant holder. The number of shares of Common Stock issuable upon exercise of the Warrants is subject to adjustment upon the occurrence
of certain events as set forth in the Warrant Agreement.

 

The
initial Exercise Price per share of Common Stock for any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment
upon the occurrence of certain events as 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, without regard to
conflicts of laws principles thereof.

 

     

     

    

 

	 	GLOBAL BLOCKCHAIN ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	Name:	Max Hooper
	 	Title:	Chief Executive Officer
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent  
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature Page to 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 shares of Common
Stock and are issued or to be issued pursuant to a Warrant Agreement dated as of _________________________________________________________________,
2022 (the “Warrant Agreement”), duly executed and delivered by the Company to Continental Stock Transfer&
Trust Company, a New York corporation, 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 Exercise 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 shares of Common Stock to be issued upon exercise is effective under the Securities Act and (ii)
a prospectus thereunder relating to the shares of Common Stock 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 shares of Common Stock issuable upon 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 a share of Common Stock, the Company shall, upon exercise, round down to the nearest
whole number of shares of Common Stock 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 stockholder 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 shares of Common Stock
and herewith tenders payment for such shares of Common Stock to the order of GLOBAL BLOCKCHAIN ACQUISITION CORP. (the “Company”)
in the amount of $                 in accordance with the terms hereof. The undersigned requests that a certificate for such shares of Common Stock be
registered in the name of , whose address is and that such shares of Common Stock be delivered to whose address is . If said number of
shares of Common Stock is less than all of the shares of Common Stock purchasable hereunder, the undersigned requests that a new Warrant
Certificate representing the remaining balance of such shares of Common Stock 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 6.3 of the Warrant Agreement, the number of shares of Common Stock that this Warrant is exercisable
for shall be determined in accordance with subsection 3.3.1(b) and Section 6.3 of the Warrant Agreement.

 

In
the event that the Warrant is a Private Placement Warrant or Working Capital Warrant that is to be exercised on a “cashless”
basis pursuant to subsection 3.3.1(c) of the Warrant Agreement, the number of shares of Common Stock 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 shares of
Common Stock 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 shares of Common Stock 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 shares of Common Stock. If said number of shares of Common Stock is less than all of the shares of Common Stock purchasable
hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining
balance of such shares of Common Stock be registered in the name of                          , whose address is                                                       and that such Warrant Certificate be
delivered to                  , whose address is                               .

 

[Signature Page Follows]

 

     

     

    

 

	Date: __________ 20	
	 	 
	 	 
		(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 S.E.C. RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT of 1934, AS AMENDED
(OR ANY SUCCESSOR RULE)).

 

     

     

    

 

EXHIBIT B

 

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 GLOBAL BLOCKCHAIN ACQUISITION CORP. (THE “COMPANY”) 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 SHARES OF COMMON STOCK 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.”

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