Document:

Exhibit 4.5

 

RIGHTS AGREEMENT

 

This Rights Agreement (this
“Agreement”) is made as of [       ], 2017 between Constellation Alpha Capital Corp.,
a company incorporated in the British Virgin Islands with number 1884971, with offices at Emerald View, Suite 400, 2054 Vista Parkway,
West Palm Beach, FL 33411 (the “Company”), and Continental Stock Transfer & Trust Company, a New York corporation,
with offices at 17 Battery Place, New York, New York 10004 (“Rights Agent”).

 

WHEREAS, the Company has
received binding commitments from its sponsor (as defined in the Registration Statement) and Cowen Investments LLC (“Cowen”)
to purchase up to an aggregate of 417,500 units, each unit (“Unit”) comprised of one ordinary share with no par value
in the Company (“Ordinary Share”), one warrant to purchase one-half of one Ordinary Share (“Warrant”) and
one right to receive one-tenth of one Ordinary upon the happening of the triggering event described herein (“Right”),
and in connection therewith, will issue and deliver up to an aggregate of 417,500 Rights as part of such Units upon consummation
of such private placement (the “Private Offering”); and

 

WHEREAS, the Company is
engaged in a public offering (“Public Offering”) of Units and, in connection therewith, will issue and deliver up to
14,375,000 Rights to the public investors; and

 

WHEREAS, the Company has
filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, File No. [       ]
(“Registration Statement”), and related Prospectus (“Prospectus”) for the registration, under the Securities
Act of 1933, as amended (“Act”), of, among other securities, the Rights and the Ordinary Shares issuable to the holders
of the Rights; and

 

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

 

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

 

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

 

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

 

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

 

2.            Rights.

 

2.1.         Form
of Right. Each Right shall be issued in registered form only, 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 or Chief
Executive Officer and the Secretary of the Company and shall bear a facsimile of the Company’s seal. In the
event the person whose facsimile signature has been placed upon any Right shall have ceased to serve in the capacity in which such
person signed the Right before such Right 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. Unless and until countersigned by the Rights Agent pursuant to this Agreement, a Right shall be invalid
and of no effect and may not be exchanged for Ordinary Shares.

 

2.3.         Registration.

 

2.3.1.          Right
Register. The Rights Agent shall maintain books (“Right Register”) for the registration of original issuance and
the registration of transfer of the Rights. Upon the initial issuance of the Rights, the Rights Agent shall issue and register
the Rights in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered
to the Rights Agent by the Company.

 

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

 

2.4.          Detachability
of Rights. The securities comprising the Units, including the Rights, will not be separately transferable until the earlier
to occur of: (i) the 52nd day following the date of the Prospectus or (ii) the announcement by the Cowen and Company, LLC,
as representative of the underwriters in the Public Offering, of its intention to allow separate earlier trading, except that in
no event will the securities comprising the Units be separately tradeable until the Company files a Current Report on Form 8-K
with the SEC which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public
Offering including the proceeds received by the Company from the exercise of the over-allotment option, if the over-allotment option
is exercised by the date thereof and the Company issues a press release and files a Current Report on Form 8-K with the SEC announcing
when such separate trading shall begin.

 

3.            Terms
and Exchange of Rights

 

3.1.          Rights.
Each Right shall entitle the holder thereof to receive one-tenth of one Ordinary Share upon the happening of an Exchange Event
(defined below). No additional consideration shall be paid by a holder of Rights in order to receive his, her or its Ordinary Shares
upon an Exchange Event as the purchase price for such Ordinary Shares has been included in the purchase price for the Units. In
no event will the Company be required to net cash settle the Rights or issue fractional Ordinary Shares.

 

3.2.         Exchange
Event. An “Exchange Event” shall occur upon the Company’s consummation of an initial Business Combination
(as defined in the Company’s Amended and Restated Memorandum and Articles of Association).

 

3.3.         Exchange
of Rights.

 

3.3.1.          Issuance
of Ordinary Shares. As soon as practicable upon the occurrence of an Exchange Event, the Company shall direct holders of the
Rights to return their Rights Certificates to the Rights Agent. Upon receipt of a valid Rights Certificate, the Company shall issue
to the registered holder of such Right(s) the number of full Ordinary Shares to which he, she or it is entitled, registered in
such name or names as may be directed by him, her or it and issue to such registered holder(s) a certificate or book-entry position
for the such shares. Notwithstanding the foregoing, or any provision contained in this Agreement to the contrary, in no event will
the Company be required to net cash settle the Rights. The Company shall not issue fractional shares upon exchange of Rights. In
the event that any holder would otherwise be entitled to any fractional share upon exchange of Rights, at the time of an Exchange
Event, the Company will instruct the Right Agent how any such entitlement will be addressed. To the fullest extent permitted by
the Company's Amended and Restated Memorandum and Articles of Association the Company reserves the right to deal with any such
fractional entitlement at the relevant time in any manner permitted by the Act and the Amended and Restated Memorandum and Articles,
which would include the rounding down of any entitlement to receive Ordinary Shares to the nearest whole share (and in effect extinguishing
any fractional entitlement), or the holder being entitled to hold any remaining fractional entitlement (without any share being
issued) and to aggregate the same with any future fractional entitlement to receive shares in the Company until the holder is entitled
to receive a whole number. Any rounding down and extinguishment may be done with or without any in lieu cash payment or other compensation
being made to the holder of the relevant Rights, such that value received on exchange of the Rights may be considered less than
the value that the holder would otherwise expect to receive.

 

     

     

    

 

3.3.2.          Valid
Issuance. All Ordinary Shares issued upon an Exchange Event in conformity with this Agreement shall be validly issued, fully
paid and nonassessable.

 

3.3.3.          Date
of Issuance. Each person in whose name any such certificate or book-entry position for Ordinary Shares is issued shall for
all purposes be deemed to have become the holder of record of such shares on the date of the Exchange Event, irrespective of the
date of delivery of such certificate or entry of position.

 

3.3.4           Company
Not Surviving Following Exchange Event. Upon an Exchange Event in which the Company does not continue as the publicly held
reporting entity, the definitive agreement will provide for the holders of Rights to receive the same per share consideration the
holders of the Ordinary Shares will receive in such transaction, for the number of shares such holder is entitled to pursuant to
Section 3.3.1 above. If the Company does not continue as the publicly held reporting entity upon an Exchange Event, each holder
of a Right will be required to affirmatively convert his/her or its rights in order to receive the 1/10 share underlying each right
(without paying any additional consideration) upon consummation of the Exchange Event. In such a case, each holder of a Right will
be required to indicate his, her or its election to convert the Rights into underlying shares as well as to return the original
certificates evidencing the Rights to the Company.

 

3.5          Duration
of Rights. If an Exchange Event does not occur within the time period set forth in the Company’s Amended and Restated
Memorandum and Articles of Association, as the same may be amended from time to time, the Rights shall expire and shall be worthless.

 

4.            Transfer
and Exchange of Rights.

 

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

 

4.2.         Procedure
for Surrender of Rights. Rights may be surrendered to the Rights Agent, together with a written request for exchange or transfer,
and thereupon the Rights Agent shall issue in exchange therefor one or more new Rights as requested by the registered holder of
the Rights so surrendered, representing an equal aggregate number of Rights; provided, however, that in the event that a Right
surrendered for transfer bears a restrictive legend and the new Rights to be issued will not bear a restrictive legend, the Rights
Agent shall not cancel such Right and issue new Rights in exchange therefor until the Rights Agent has received an opinion of counsel
for the Company stating that such transfer may be made and indicating no restrictive legend is required.

 

4.3.         Fractional
Rights. The Rights Agent shall not be required to effect any registration of transfer or exchange which will result in the
issuance of a Right Certificate for a fraction of a Right.

 

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

 

4.5.         Right
Execution and Countersignature. The Rights Agent is hereby authorized to countersign and to deliver, in accordance with the
terms of this Agreement, the Rights required to be issued pursuant to the provisions of this Section 4, and the Company, whenever
required by the Rights Agent, will supply the Rights Agent with Rights duly executed on behalf of the Company for such purpose. 

 

     

     

    

 

5.           Other
Provisions Relating to Rights of Holders of Rights.

 

5.1.         No
Rights as Shareholder. Until exchange of a Right for Ordinary Shares as provided for herein, a Right does not entitle the registered
holder thereof to any of the rights of a shareholder of the Company, including, without limitation, the right to receive dividends,
or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of
the meetings of shareholders or the election of directors of the Company or any other matter. 

 

5.2.         Lost,
Stolen, Mutilated, or Destroyed Rights. If any Right is lost, stolen, mutilated, or destroyed, the Company and the Rights 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
Right, include the surrender thereof), issue a new Right of like denomination, tenor, and date as the Right so lost, stolen, mutilated,
or destroyed. Any such new Right shall constitute a substitute contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated, or destroyed Right shall be at any time enforceable by anyone.

 

5.3.         Reservation
of Ordinary Shares. The Company shall at all times reserve and keep available a number of its authorized but unissued Ordinary
Shares that will be sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

6.           Concerning
the Rights Agent and Other Matters.

 

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

 

6.2.         Resignation,
Consolidation, or Merger of Rights Agent.

 

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

 

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

 

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

 

     

     

    

 

6.3.         Fees
and Expenses of Rights Agent.

 

6.3.1.          Remuneration.
The Company agrees to pay the Rights Agent reasonable remuneration for its services as such Rights Agent hereunder and will reimburse
the Rights Agent upon demand for all expenditures that the Rights Agent may reasonably incur in the execution of its duties hereunder.

 

6.3.2.          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 Rights Agent for
the carrying out or performing of the provisions of this Agreement.

 

6.4.         Liability
of Rights Agent.

 

6.4.1.          Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Rights 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 or Chief Financial Officer and delivered to the Rights
Agent. The Rights Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions
of this Agreement.

 

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

 

6.4.3.          Exclusions.
The Rights Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or
execution of any Right (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any
covenant or condition contained in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation
or warranty as to the authorization or reservation of any Ordinary Shares to be issued pursuant to this Agreement or any Right
or as to whether any Ordinary Shares will when issued be valid and fully paid and nonassessable.

 

6.5.         Acceptance
of Agency. The Rights Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the
terms and conditions herein set forth.

 

6.6          Waiver.
The Rights Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and the Rights Agent as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

7.           Miscellaneous
Provisions.

 

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

 

7.2.         Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right
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 days after deposit of such notice, postage prepaid, addressed (until another address is
filed in writing by the Company with the Rights Agent), as follows:

 

     

     

    

 

Constellation Alpha Capital Corp.

Emerald View, Suite 400

2054 Vista Parkway

West Palm Beach, FL 33411

Attn: Rajiv Shukla, Chief Executive
Officer

and Chairman of the Board

 

Any notice, statement or demand authorized
by this Agreement to be given or made by the holder of any Right or by the Company to or on the Rights 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 days
after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Rights Agent with the
Company), as follows:

 

Continental Stock Transfer &
Trust Company

17 Battery Place

New York, New York 10004

Attn: Compliance Department

 

with a copy to:

Ellenoff Grossman & Schole, LLP

1345 Avenue of the Americas,

New York, NY 10105

Attn: Stuart Neuhauser, Esq.

 

and

 

Skadden, Arps, Slate, Meagher &
Flom LLP

300 South Grand Avenue

Los Angeles, CA 90071-3144

Attn: Gregg A. Noel, Esq. and Jonathan
Ko, Esq.

 

and

 

Ogier

Ritter House, 6th Floor

Wickhams Cay II

PO Box 3170

Road Town, Tortola

British Virgin Islands, VG1110

Attn: Michael Killourhy

 

and

 

Cowen and Company, LLC

1221 Avenue of the Americas

New York, NY 10020

[Attn:   ]

 

7.3.         Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Rights 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. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or
certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 7.2 hereof. Such
mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

     

     

    

 

7.4.         Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto
and the registered holders of the Rights and, for the purposes of Sections 7.4 and 7.8 hereof, Cowen, any right, remedy, or claim
under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. Cowen shall be deemed
to be a third-party beneficiary of this Agreement with respect to Sections 7.4 and 7.8 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 Cowen
with respect to the Sections 7.4 and 7.8 hereof) and their successors and assigns and of the registered holders of the Rights.
The provisions of this Section 7.4 may not be modified, amended or deleted without the prior written consent of Cowen.

 

7.5.         Examination
of the Right Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Rights Agent
in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Right. The Rights Agent
may require any such holder to submit his, her or its Right for inspection by it.

 

7.6.         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.

 

7.7.         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.

 

7.8          Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any
ambiguity, or of curing, correcting or supplementing 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. All other modifications or amendments shall require the
written consent or vote of the registered holders of a majority of the then outstanding Rights. The provisions of this Section
7.8 may not be modified, amended or deleted without the prior written consent of Cowen.

 

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

 

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF, this Agreement has been
duly executed by the parties hereto as of the day and year first above written.

 

	 	CONSTELLATION ALPHA CAPITAL CORP.
	 	 	 
	 	By:	 
	 	 	Name:  Rajiv Shukla
	 	 	Title:  Chief Executive Officer
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature Page to Right Agreement]Exhibit 10.1

 

[_________], 2017

 

Constellation Alpha Capital Corp.

Emerald View, Suite 400

2054 Vista Parkway

West Palm Beach, FL 33411

Rajiv Shukla, Chief Executive Officer and
Chairman of the Board

Fax No. [_____________]

 

Cowen and Company, LLC

1221 Avenue of the Americas

New York, New York 10020

Att: [__________]

Fax No. [_______]

 

		Re:	Initial Public Offering

 

Gentlemen:

 

This letter is being delivered to you in
accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered into by and between
Constellation Alpha Capital Corp., a British Virgin Islands Company (the “Company”), and Cowen and Company,
LLC. as Representative (the “Representative”) of the several Underwriters named in Schedule A thereto
(the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one ordinary share, no par value, of the
Company (the “Ordinary Shares”), one warrant (the “Warrant”) to purchase one-half
of one Ordinary Share and one right to receive one-tenth (1/10) of one Ordinary Share upon the consummation of the Company’s
initial business combination (the “Right”). Certain capitalized terms used herein are defined in paragraph
17 hereof.

 

In order to induce
the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the
benefit that such IPO will confer upon the undersigned as a shareholder or officer or director of the Company, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the
Company as follows:

 

1.    If the
Company solicits approval of its shareholders of a Business Combination (as defined below), the undersigned will vote all Ordinary
Shares beneficially owned by him, her or it, whether acquired before, in or after the IPO, or whether such Ordinary Shares are
underlying the Private Units, in favor of such Business Combination.

 

2.     (a)
In the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
Amended and Restated Memorandum and Articles of Association, as the same may be amended from time to time, the undersigned shall
take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to the holders of IPO Shares and (ii) cause
the Company to liquidate as soon as reasonably practicable.

 

(b) The undersigned
hereby waives any and all right, title, interest or claim of any kind (“Claim”) in, or, with respect
to his, her or its Insider Shares or Private Units, to any distribution of, the Trust Fund. The undersigned hereby waives any Claim
the undersigned may have in the future as a result of, or arising out of, any contracts or agreements with the Company and will
not seek recourse against the Trust Fund for any reason whatsoever. The undersigned acknowledges and agrees that there will be
no distribution from the Trust Fund with respect to any Rights or Warrants, which will terminate on the Company’s liquidation.

 

     

     

    

 

(c) In the event of
the liquidation of the Trust Fund, Centripetal, LLC (“Sponsor”) agrees to indemnify and hold harmless
the Company against any and all loss, liability, claims, damage and expense whatsoever (including, but not limited to, any and
all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation, whether pending
or threatened, or any claim whatsoever) which the Company may become subject as a result of any claim by any vendor or other person
who is owed money by the Company for services rendered or products sold to or contracted for the Company, or by any target business
with which the Company has discussed entering into a transaction agreement, but only to the extent necessary to ensure that such
loss, liability, claim, damage or expense does not reduce the amount of funds in the Trust Fund to below $10.00 per IPO Share; provided that
such indemnity shall not apply if such vendor or other person executes a waiver of any and all rights to seek access to the Trust
Account and except as to claims under the Company’s indemnity of the underwriters of the IPO against certain liabilities.

 

3.
    (a) The Sponsor agrees that it shall not Transfer any Insider Shares: (x) with respect to 50% of its Insider Shares, until the
earlier of (i) one year after the date of the consummation of the Business Combination or (ii) the date on which the closing price
of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations)
for any 20 trading days within any 30-trading day period commencing after the Business Combination and (y) with respect to the
remaining 50% of its Insider Shares, one year after the date of the consummation of the Business Combination, or earlier, in either
case, if, subsequent to the Business Combination, the Company consummates a subsequent liquidation, merger, stock exchange or other
similar transaction which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares
for cash, securities or other property.

 

(b) The Sponsor agrees that it shall not
effectuate any Transfer of securities issued or issuable upon the exercise of the Private Units or their underlying securities
until after the completion of the Business Combination.

 

4.     [Intentionally
Omitted].

 

5.     In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned directors and officers
of the Company agree to present to the Company for its consideration, prior to presentation to any other person or entity, any
suitable opportunity to acquire a target business, until the earlier of the consummation by the Company of a Business Combination
or the liquidation of the Company, subject to any pre-existing fiduciary and contractual obligations the undersigned directors
and officers might have.

 

6.    The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, such transaction must be approved by a majority of the Company’s disinterested
independent directors and the Company must obtain an opinion from an independent investment banking firm or independent accounting
firm that such Business Combination is fair to the Company’s unaffiliated shareholders from a financial point of view.

 

7.     Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
and will not accept any compensation or other cash payment for services rendered prior to, or in order to effectuate, the consummation
of the Business Combination; provided that the Company shall be allowed to (i) repay working capital loans made
by the undersigned or its affiliates to the Company in cash upon consummation of the Business Combination or, at the undersigned’s
discretion, with respect to up to an aggregate of $1,500,000 of working capital loans from all lenders, by converting such loans
into Private Units at a price of $10.00 per Private Unit, as more fully described in the Registration Statement, (ii) repay a non-interest
bearing advances in an aggregate amount of [_____] made to the Company by the Sponsor to cover the IPO expenses, (iii) pay $10,000
per month to an affiliate of the Chief Executive Officer and Chairman of the Company for office space and related services, and
(iv) reimburse the undersigned and any affiliate of the undersigned for their out-of-pocket expenses incurred in connection with
identifying, investigating and consummating a Business Combination.

 

8.     Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

     

     

    

 

9.    The
undersigned officers and directors agree to be the officers and directors of the Company until the earlier of the consummation
by the Company of a Business Combination, the liquidation of the Company or such officer or director is officially replaced by
the Company’s board of directors. The undersigned officers’ and directors’ biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the officers’ and directors’ biography and contains all of the information required to be disclosed
pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act of 1933, as amended (the “Securities Act”).
Each of the undersigned officers’ and directors’ FINRA Questionnaire previously furnished to the Company and the Representative
is true and accurate in all material respects.

 

10.   Each
of the undersigned represents and warrants that:

 

		(a)	He,
she or it has never had a petition under the federal bankruptcy laws or any state or foreign insolvency law been filed by or against
(i) him, her or it, or any partnership in which he, she or it was a general partner at or within two years before the time of
filing; or (ii) (to the extent the undersigned is an individual) any corporation or business association of which he or she was
an executive officer at or within two years before the time of such filing;

  

	 	(b)	He, she or it has never had a receiver, fiscal agent or similar officer been appointed by a court for his or her business or property, or any such partnership;

 

	 	(c)	He, she, or it has never been convicted of fraud in a civil or criminal proceeding;

 

	 	(d)	He, she, or it has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations and minor offenses);

 

	 	(e)	He, she, or it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him from (i) acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing any conduct or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities or federal commodities laws;

 

	 	(f)	He, she, or it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring, suspending or otherwise limiting for more than 60 days his, her or its right to engage in any activity described in 8(e)(i) above, or to be associated with persons engaged in any such activity;

 

	 	(g)	He, she or it has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal, state, or foreign securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or vacated;

 

	 	(h)	He, she or it has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

  

	 	(i)	He, she or it has never been the subject of, or a party to, any federal, state, or foreign judicial or administrative order, judgment, decree or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any federal ,state or foreign securities or commodities law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity;

 

     

     

    

 

	 	(j)	He, she or it has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member;

 

	 	(k)	He, she or it has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

	 	(l)	He, she or it was never subject to a final order of a state or foreign securities commission (or an agency of officer of a state performing like functions); a state or foreign authority that supervises or examines banks, savings associations, or credit unions; a state or foreign insurance commission (or an agency or officer of a state performing like functions); an appropriate federal or foreign banking agency; the Commodity Futures Trading Commission; or the National Credit Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive conduct;

 

	 	(m)	He, she or it has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such sale, restrained or enjoined him from engaging or continuing to engage in any conduct or practice: (i) in connection with the purchase or sale of any security; (ii) involving the making of any false filing with the SEC or any foreign regulatory agency with similar functions; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers of securities;

  

	 	(n)	He, she or it has never been subject to any order of the SEC or any foreign regulatory agency with similar functions that orders him to cease and desist from committing or causing a future violation of: (i) any scienter-based anti-fraud provision of the foreign or federal securities laws, including, but not limited to, Section 17(a)(1) of the Securities Act, Section 10(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 thereunder, and Section 206(1) of the Investment Advisers Act of 1940, as amended (the “Advisers Act”),  or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

	 	(o)	He, she or it has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

	 	(p)	He, she or it has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property through the mail by means of false representations;

 

	 	(q)	He, she or it is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions); a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the Commodity Futures Trading Commission; or the National Credit Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association or credit union activities;

 

	 	(r)	He, she or it is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Exchange Act or section 203(e) or 203(f) of the Advisers Act that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment adviser; (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person; or (iii) bars the undersigned from being associated with any entity or from participating in the offering of any penny stock; and

 

     

     

    

 

	 	(s)	He, she or it has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

11.   The
undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this letter
agreement and to hold the position/title in the Company indicated in the Registration Statement (if applicable).

 

12.   The
undersigned hereby waives his, her or its right to exercise redemption rights with respect to any Ordinary Shares owned or to be
owned by the undersigned directly or indirectly, whether purchased prior to the IPO, in the IPO or in the aftermarket, or whether
such or whether such Ordinary Shares are underlying the Private Units, and agrees that he, she or it will not seek redemption with
respect to or otherwise sell, such shares in connection with any vote to approve a Business Combination with respect thereto.

 

13.   The
undersigned hereby agrees to not propose an amendment to the Company’s Amended and Restated Memorandum and Articles of Association
with respect to the Company’s pre-Business Combination activities prior to the consummation of a Business Combination that
would affect the substance or timing of the Company’s obligation to redeem 100% of the IPO Shares if the Company does not
complete a Business Combination within the time period set forth in the Amended and Restated Memorandum and Articles of Association.

  

14.  In the event
that the Company does not consummate a Business Combination and must liquidate and its remaining net assets are insufficient to
complete such liquidation, the Sponsor agrees to advance such funds necessary to complete such liquidation and agrees not to seek
repayment for such expenses.

 

15.   Each officer and director of the Company
agrees not to become involved with another publicly listed blank check company with a class of securities registered under the
Exchange Act prior to us announcing an agreement to acquire our initial Business Combination, or the expiration of the period for
us to announce and/or complete our initial Business Combination.

 

16.   This
letter agreement shall be governed by and construed and enforced in accordance with 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 undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way to this
letter agreement (a “Proceeding”) shall be brought and enforced in the courts of the State of New York
of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction
shall be exclusive, (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum
and (iii) irrevocably agrees to appoint Ellenoff Grossman & Schole LLP as agent for the service of process in the State of
New York to receive, for the undersigned and on his behalf, service of process in any Proceeding.

  

17. As used
herein, (i) a “Business Combination” shall mean a share exchange, share reconstruction and amalgamation
with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or any other similar business
combination with one or more businesses or entities; (ii) “Insiders” shall mean all officers, directors
and shareholders of the Company immediately prior to the IPO; (iii) “Insider Shares” shall mean all of
the Ordinary Shares of the Company acquired by an Insider prior to the IPO; (iv) “IPO Shares” shall mean
the Ordinary Shares issued in the Company’s IPO; (v) “Private Units” shall mean (x) the Units purchased
in the private placement taking place simultaneously with the consummation of the Company’s IPO and (y) additional Units
that will be purchased in a private placement upon the full or partial exercise of the underwriters’ over-allotment option
for the Company’s IPO; (vi) “Registration Statement” means the registration statement on Form S-1
filed by the Company with respect to the IPO; (vii) “Transfer” shall mean the (a) sale of,
offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement
to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to
or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act and the rules and regulations
of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that
transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction
is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect
any transaction specified in clause (a) or (b); and (viii) “Trust Fund” shall mean the trust fund
into which a portion of the net proceeds of the Company’s IPO will be deposited.

 

     

     

    

 

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

 

19.   No party
hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior written
consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not
operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding on the parties
hereto and any successors and assigns thereof.

 

20.  The undersigned
acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and warranties
set forth herein in proceeding with the IPO.

 

21.   This letter agreement
constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes
all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate
in any way to the subject matter hereof or the transactions contemplated hereby. This letter agreement may not be changed, amended,
modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument
executed by the Company and each officer or director that is the subject of any such change, amendment modification or waiver.

 

[signature page follows]

 

     

     

    

 

	 	Centripetal, LLC
	 	 	 
	 	By:	 
	 	 	Name: Rajiv Shukla
	 	 	Title: Managing Member
	 	 
	 	
	 	Rajiv Shukla
	 	 
	 	 
	 	Craig Pollack
	 	 
	 	 
	 	Alan Rosling
	 	 
	 	 
	 	Kewel Handa
	 	 
	 	 
	 	John Alexander

 

Acknowledged and Agreed:

 

CONSTELLATION ALPHA CAPITAL CORP.

 

	By:  	 	 
		Name: 	 
		Title:	 

 

[Signature Page to the Insider Letter]

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