Document:

Exhibit 10.4

 

Execution
Version

 

REGISTRATION
RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of [__], 2022, is made and entered into by and among
A SPAC I Acquisition Corp., a British Virgin Islands business company (the “Company”), A SPAC (Holdings) Acquisition
Corp., a British Virgin Islands business company (the “Sponsor”) and each additional undersigned party listed
on the signature page hereto, if any (each such party, together with the Sponsor and any person or entity who hereafter becomes
a party to this Agreement pursuant to Section 5.2 of this Agreement, a “Holder” and collectively
the “Holders”).

 

RECITALS

 

WHEREAS,
the Company and the Sponsor have entered into those certain Securities Subscription Agreements (the “Founder Shares Purchase
Agreements”), dated as of June 7, 2021 and July 19, 2021, pursuant to which the Sponsor purchased an aggregate of 2,300,000
(the “Founder Shares”) of the Company’s Class A ordinary shares, no par value (the “Ordinary
Shares”) and one Class B Ordinary Share (the “Class B Ordinary Share”);

 

WHEREAS, subsequently,
on January 14, 2022, our Sponsor surrendered for no consideration and the Company canceled 575,000 of such Founder Shares, resulting in
1,725,000 Founder Shares remaining outstanding;

 

WHEREAS,
the Class B ordinary share will automatically be canceled at the time of the Company’s initial Business Combination, on the terms
and conditions provided in the Company’s amended and restated memorandum and articles of association;

 

WHEREAS, on [ ], 2022,
the Company entered into that certain Warrant Subscription Agreement with the Sponsor, pursuant to which the Sponsor agreed to purchase
an aggregate of 2,875,000 warrants (or up to 3,145,000 warrants if the over-allotment option in connection with the Company’s initial
public offering (the “Offering”) is exercised in full) simultaneously with the closing of the Offering (and
the closing of the over-allotment option, if applicable) (the “Private Placement Warrants”) at a purchase price
of $1.00 per Private Placement Warrant. Each Private Placement Warrant is exercisable for one Ordinary Share (the “Private
Placement Shares”) at a price of $11.50 per Ordinary Share; and

 

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

 

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

 

    	 		 

     

    

 

ARTICLE
I

DEFINITIONS

 

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

 

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

 

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

 

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

 

“Business
Combination” shall mean any merger, share exchange, asset acquisition, share purchase, reorganization or other similar
business combination with one or more businesses, involving the Company.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Founder
Shares” shall have the meaning given in the Recitals hereto and shall be deemed to include the Ordinary Shares issuable
upon conversion thereof.

 

“Founder
Shares Lock-up Period” shall mean, with respect to the Founder Shares, the period ending on the earlier of (A) six
months after the completion of the Company’s initial Business Combination or (B) subsequent to the Business Combination, (x) if
the last sale price of the Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing after the Company’s
initial Business Combination or (y) the date on which the Company completes a liquidation, merger, share exchange, reorganization
or other similar transaction that results in all of the Company’s shareholders having the right to exchange their Ordinary Shares
for cash, securities or other property.

 

    	 	2	 

     

    

 

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

 

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

 

“Insider
Letter” shall mean that certain letter agreement, dated as of [__], 2022, by and between the Company, the Sponsor and each
of the Company’s officers, directors and director nominees.

 

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

 

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

 

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

 

“Permitted
Transferees” shall have the same meaning given in the Company’s registration statement on Form S-1, No. 333- 258184
and shall also include a person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities
prior to the expiration of the Founder Shares Lock-up Period or Private Placement Lock-up Period, as the case may
be, under the Insider Letter, this Agreement, and any other applicable agreement between such Holder and the Company, and to any transferee
thereafter.

 

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

 

“Private
Placement Lock-up Period” shall mean, with respect to Private Placement Warrants, including Private
Placement Shares, that are held by the initial purchasers of such Private Placement Warrants or their Permitted Transferees, the period
ending after the completion of the Company’s initial Business Combination.

 

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

 

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

 

“Pro
Rata” shall have the meaning given in subsection 2.1.4.

 

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

 

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

 

    	 	3	 

     

    

 

“Registrable
Security” shall mean (a) any Ordinary Shares issued or issuable upon the conversion of any Founder Shares,
(b) the Private Placement Warrants, (c) the Private Placement Shares, (d) any outstanding Ordinary Shares or any other equity
security (including the Ordinary Shares issued or issuable upon the exercise or conversion of any other equity security) of the
Company held by a Holder as of the date of this Agreement, (e) any equity securities (including the Ordinary Shares issued or
issuable upon the exercise of any such equity security) of the Company issuable upon conversion of any working capital loans in an
amount up to $1,150,000 made to the Company by a Holder, and (f) any other equity security of the Company issued or issuable
with respect to any such Ordinary Shares by way of a share dividend or share split or in connection with a combination of shares,
recapitalization, merger, consolidation or reorganization; provided, however, that, as to any particular
Registrable Security, such securities shall cease to be Registrable Securities when: (A) a Registration Statement with respect
to the sale of such securities shall have become effective under the Securities Act and such securities shall have been sold,
transferred, disposed of or exchanged in accordance with such Registration Statement; (B) such securities shall have been
otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer shall have been
delivered by the Company and subsequent public distribution of such securities shall not require registration under the Securities
Act; (C) such securities shall have ceased to be outstanding; (D) such securities may be sold without registration
pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission)
(but with no volume or other restrictions or limitations); or (E) such securities have been sold to, or through, a broker,
dealer or underwriter in a public distribution or other public securities transaction.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	4	 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

ARTICLE
II

REGISTRATIONS

 

2.1           Demand Registration.

 

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

 

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

 

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

 

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

 

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2.1.5       
Demand Registration Withdrawal. A majority-in-interest of
the Demanding Holders initiating a Demand Registration or a majority-in-interest of the Requesting Holders (if any), pursuant to
a Registration under subsection 2.1.1 shall have the right to withdraw from a Registration pursuant to such Demand Registration
for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of their intention
to withdraw from such Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect to
the Registration of their Registrable Securities pursuant to such Demand Registration. Notwithstanding anything to the contrary in this
Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Registration pursuant to a Demand
Registration as provided in Section 3.3 prior to its withdrawal under this subsection 2.1.5.

 

2.2           Piggyback Registration.

 

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

 

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

 

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

 

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

 

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2.2.3       
Piggyback Registration Withdrawal. Any Holder of Registrable
Securities shall have the right to withdraw from a Piggyback Registration for any or no reason whatsoever upon written notification to
the Company and the Underwriter or Underwriters (if any) of his, her or its intention to withdraw from such Piggyback Registration prior
to the effectiveness of the Registration Statement filed with the Commission with respect to such Piggyback Registration. The Company
(whether on its own good faith determination or as the result of a request for withdrawal by persons pursuant to separate written contractual
obligations) may withdraw a Registration Statement filed with the Commission in connection with a Piggyback Registration at any time
prior to the effectiveness of such Registration Statement. Notwithstanding anything to the contrary in this Agreement, the Company shall
be responsible for the Registration Expenses incurred in connection with the Piggyback Registration as provided in Section 3.2 prior
to its withdrawal under this subsection 2.2.3.

 

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

 

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

 

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2.4           Restrictions on Registration Rights. If (A) during
the period starting with the date sixty (60) days prior to the Company’s good faith estimate of the date of the filing of,
and ending on a date one hundred and twenty (120) days after the effective date of, a Company initiated Registration and provided
that the Company has delivered written notice to the Holders prior to receipt of a Demand Registration pursuant to subsection
2.1.1 and it continues to actively employ, in good faith, all reasonable efforts to cause the applicable Registration Statement
to become effective; (B) the Holders have requested an Underwritten Registration and the Company and the Holders are unable to obtain
the commitment of underwriters to firmly underwrite the offer; or (C) in the good faith judgment of the Board such Registration
would be seriously detrimental to the Company and the Board concludes as a result that it is essential to defer the filing of such Registration
Statement at such time, then in each case the Company shall furnish to such Holders a certificate signed by a Director of the Board stating
that in the good faith judgment of the Board it would be seriously detrimental to the Company for such Registration Statement to be filed
in the near future and that it is therefore essential to defer the filing of such Registration Statement. In such event, the Company
shall have the right to defer such filing for a period of not more than thirty (30) days.

 

ARTICLE
III

COMPANY PROCEDURES

 

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

 

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

 

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

 

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

 

    	 	10	 

     

    

 

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

 

3.1.5       
cause all such Registrable Securities included in any registration
to be listed on such exchanges or otherwise designated for trading in the same manner as similar securities issued by the Company are
then listed or designated or, if no such similar securities are then listed or designated, in a manner satisfactory to the holders of
a majority-in-interest of the Registrable Securities included in such registration;

 

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

 

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

 

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

 

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

 

    	 	11	 

     

    

 

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

 

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

 

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

 

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

 

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

 

3.1.15   
if the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $60,000,000, use its reasonable
efforts to make available senior executives of the Company to participate in customary “road show” presentations that may
be reasonably requested by the Underwriter in any Underwritten Offering; and

 

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

 

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

 

    	 	12	 

     

    

 

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

 

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

 

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

 

    	 	13	 

     

    

 

ARTICLE
IV

INDEMNIFICATION AND CONTRIBUTION

 

4.1           Indemnification.

 

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

 

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

 

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

 

    	 	14	 

     

    

 

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

 

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

 

    	 	15	 

     

    

 

ARTICLE
V

MISCELLANEOUS

 

5.1           Notices.
Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed
to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person
or by courier service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail, telecopy, telegram
or facsimile. Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently
given, served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed
and, in the case of notices delivered by courier service, hand delivery, electronic mail, telecopy, telegram or contact information,
at such time as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery
is refused by the addressee upon presentation. Any notice or communication under this Agreement must be addressed, if to the Company,
to: Level 39, Marina Bay Financial Centre, Tower 2, 10 Marina Boulevard, Singapore 018983, and, if to any Holder, at such Holder’s
address or facsimile number as set forth in the Company’s books and records. Any party may change its address for notice at any
time and from time to time by written notice to the other parties hereto, and such change of address shall become effective thirty (30) days
after delivery of such notice as provided in this Section 5.1. 

 

5.2           Assignment; No Third Party Beneficiaries.

 

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

 

5.2.2       
Prior to the expiration of the Founder Shares Lock-up Period
or the Private Placement Lock-up Period, as the case may be, no Holder may assign or delegate such Holder’s rights, duties
or obligations under this Agreement, in whole or in part, except in connection with a transfer of Registrable Securities by such Holder
to a Permitted Transferee but only if such Permitted Transferee agrees to become bound by the transfer restrictions set forth in this
Agreement.

 

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

 

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

 

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

 

    	 	16	 

     

    

 

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

 

5.4             
Governing Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS
AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY AGREE THAT (I) THIS AGREEMENT SHALL BE GOVERNED
BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS AMONG NEW YORK RESIDENTS ENTERED INTO AND TO BE PERFORMED
ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION AND (II) THE VENUE FOR ANY ACTION
TAKEN WITH RESPECT TO THIS AGREEMENT SHALL BE ANY STATE OR FEDERAL COURT IN NEW YORK COUNTY IN THE STATE OF NEW YORK.

 

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

 

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

 

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

 

5.8             
Forfeiture. In the event the over-allotment option granted
to the Underwriter of the Offering is not exercised in full, the Holder acknowledges and agrees that it (and, if applicable, any transferee
of any of the Class A Ordinary Shares purchased and issued to the Holder hereunder) shall forfeit any and all rights to such number of
the Class A Ordinary Shares purchased and issued to the Holder hereunder (up to an aggregate of all of the 225,000 Class A Ordinary Shares
so purchased and issued and pro rata based upon the percentage of the over-allotment option exercised) such that immediately following
such forfeiture, the Holder (and any such transferees of the Holder) will own, in total, an aggregate number of the ordinary shares (not
including the ordinary shares underlying any Private Placement Warrants (whether comprised in any such warrants or standing alone) that
may be issued to the Holder upon exercise of any warrants or any securities or rights purchased by the Holder in the Offering or in the
aftermarket) equal to 20% of the issued and outstanding ordinary shares of the Company immediately following the Offering. If any of
the Class A Ordinary Shares are forfeited in accordance with this clause 5.8, then after such time the Holder (or any successor in interest),
shall no longer have any rights as a holder of such forfeited Class A Ordinary Shares, and the Company shall take such action as is appropriate
to redeem and cancel such forfeited Class A Ordinary Shares, which may include by way of the compulsory redemption and cancellation of
such Class A Ordinary Shares for nil consideration. In addition, the Holder hereby irrevocably grants the Company a limited power of
attorney for the purpose of effectuating the foregoing and agrees to take any and all action reasonably requested by the Company necessary
to effect any adjustment in this clause 5.8 (including any such redemption as is referred to herein above).

 

[SIGNATURE
PAGES FOLLOW]

 

    	 	17	 

     

    

 

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

 

	COMPANY:
	 
	A SPAC I ACQUISITION CORP.
	a British Virgin Islands business company
	 	
	By:	 
		Name:   Claudius Tsang
	 	Title:     Chief Executive Officer, Chief Financial Officer

  

	A SPAC (HOLDINGS) ACQUISITION CORP.
	a British Virgin Islands business company
	 	
	By:	 
		Name:   Serena Shie
	 	Title:     Authorized Signatory

 

[Signature
Page to Registration Rights Agreement]Exhibit 10.7

 

WARRANT SUBSCRIPTION AGREEMENT

 

This WARRANT SUBSCRIPTION
AGREEMENT (this “Agreement”) is made as of this [ ], 2022, by and between A SPAC I Acquisition Corp., a British
Virgin Islands business company (the “Company”), having its principal place of business at Level 39, Marina
Bay Financial Centre, Tower 2, 10 Marina Boulevard, Singapore 018983, and A SPAC (Holdings) Acquisition Corp., a British Virgin Islands
business company (the “Purchaser”).

 

WHEREAS, the Company desires
to sell on a private placement basis (the “Offering”) an aggregate of up to 2,875,000 warrants (the “Initial
Warrants”) of the Company, and up to an additional 270,000 warrants (“Additional Warrants” and
together with the Initial Warrants, the “Warrants”) of the Company in the event that the underwriters’
45-day over-allotment option (“Over-Allotment Option”) in the Offering is exercised in full or part, each Warrant
exercisable for one Class A ordinary share of the Company, no par value (the “Ordinary Shares”), for a purchase
price of $11.50 per Ordinary Share.

 

WHEREAS, the Purchaser desires to purchase the 2,875,000 Initial Warrants
and up to 270,000 Additional Warrants and the Company wishes to accept such subscription.

 

NOW, THEREFORE, in consideration
of the promises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and the Purchaser hereby agree as follows:

 

1.             Agreement to Subscribe

 

1.1              Purchase
and Issuance of the Warrants. For the aggregate sum of $2,875,000 (the “Initial Purchase Price”), upon
the terms and subject to the conditions of this Agreement, the Purchaser hereby agrees to purchase from the Company, and the Company
hereby agrees to sell to the Purchaser, on the Closing Date (as defined in Section 1.2) 2,875,000 Initial Warrants at $1.00 per
Initial Warrant.

 

In addition to the foregoing,
the Purchaser hereby agrees to purchase up to an additional 270,000 Additional Warrants at $1.00 per Additional Warrant for a purchase
price of up to $270,000 (the “Additional Purchase Price” and together with the Initial Purchase Price, the “Purchase
Price”). The purchase and issuance of the Additional Warrants shall occur only in the event that the Over-Allotment Option
is exercised in full or part. The total number of Additional Warrants to be purchased hereunder shall be in the same proportion as the
amount of the Over-Allotment Option that is exercised. Each purchase of Additional Warrants shall occur simultaneously with the consummation
of any portion of the Over-Allotment Option.

 

1.2             
Closing. The closing of the purchase and sale of the Initial Warrants shall take place at the offices of Hunter Taubman
Fischer & Li LLC 48 Wall Street, Suite 1100, New York, New York 10005 simultaneously with the consummation of the Company’s
initial public offering (“IPO”) and the purchase and sale of the Additional Warrants shall take place upon the
consummation of the exercise of all or any portion of the Over-Allotment Option (each a “Closing Date”).

 

    	 		 

     

    

 

1.3             
Delivery of the Purchase Price. The Initial Purchase Price is currently held in an account at Continental Stock Transfer
 & Trust Company, LLC (“CST”). At least one business day prior to the effective date of the Company’s
registration statement relating to the IPO (“Registration Statement”), or the date of the exercise of the Over-Allotment
Option, if any, the Purchaser agrees to deliver the Initial Purchase Price or Additional Purchase Price, as the case may be, by certified
bank check or wire transfer of immediately available funds denominated in United States Dollars to CST, which is hereby irrevocably authorized
to deposit such funds on the applicable Closing Date to the trust account which will be established for the benefit of the Company’s
public shareholders, managed pursuant to that certain Investment Management Trust Agreement to be entered into by and between the Company
and CST and into which substantially all of the proceeds of the IPO will be deposited (the “Trust Account”).
If the IPO is not consummated within 14 days of the date the Initial Purchase Price is delivered to CST, the Initial Purchase Price shall
be returned to the Purchaser by certified bank check or wire transfer of immediately available funds denominated in United States Dollars,
without interest or deduction.

 

1.4             
Delivery of Warrants. Upon the applicable Closing Date after delivery of the Purchase Price in accordance with Section
1.3, the Purchaser shall become irrevocably entitled to receive the Warrants purchased hereunder.

 

2.             Representations and Warranties of the Purchaser

 

The Purchaser represents and
warrants to the Company that:

 

2.1             
No Government Recommendation or Approval. It understands that no United States federal or state agency or similar
agency of any other country has passed upon or made any recommendation or endorsement of the Company, the Offering, the Warrants or the
Ordinary Shares underlying the Warrants (the “Securities”).

 

2.2             
Organization.  It is a business company, validly existing and in good standing under the laws of the British
Virgin Islands and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

2.3             
Private Offering. It is an “accredited investor” as such term is defined in Rule 501(a) of Regulation
D under the Securities Act of 1933, as amended (the “Securities Act”) or it is not a “U.S. Person”
as defined in Rule 902 of Regulation S (“Regulation S”) under the Securities Act. It acknowledges that the sale
contemplated hereby is being made in reliance on a private placement exemption to “Accredited Investors” within the meaning
of Section 501(a) of Regulation D under the Securities Act and similar exemptions under state law or a non-U.S. Person under Regulation
S.

 

2.4             
Authority. This Agreement has been validly authorized, executed and delivered by the Purchaser and is a valid and
binding agreement enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles
of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

    	 	2	 

     

    

 

2.5             
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Purchaser of
the transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the Purchaser’s organizational
documents, (ii) any agreement, indenture or instrument to which the Purchaser is a party or (iii) any law, statute, rule or regulation
to which the Purchaser is subject, or any agreement, order, judgment or decree to which the Purchaser is subject.

 

2.6             
No Legal Advice from Company. It acknowledges it has had the opportunity to review this Agreement and the transactions
contemplated by this Agreement and the other agreements entered into between the parties hereto with its own legal counsel and investment
and tax advisors. Except for any statements or representations of the Company made in this Agreement and the other agreements entered
into between the parties hereto, it is relying solely on such counsel and advisors and not on any statements or representations of the
Company or any of its representatives or agents for legal, tax or investment advice with respect to this investment, the transactions
contemplated by this Agreement or the securities laws of any jurisdiction.

 

2.7             
Access to Information; Independent Investigation. Prior to the execution of this Agreement, it has had the opportunity
to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as the finances,
operations, business and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all
information so obtained. In determining whether to make this investment, it has relied solely on its own knowledge and understanding of
the Company and its business based upon its own due diligence investigation and the information furnished pursuant to this paragraph.
It understands that no person has been authorized to give any information or to make any representations which were not furnished pursuant
to this Section 2 and it has not relied on any other representations or information in making its investment decision, whether written
or oral, relating to the Company, its operations and/or its prospects.

 

2.8             
Reliance on Representations and Warranties. It understands the Warrants are being offered and sold to it in reliance
on exemptions from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations of various
states, and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and
understandings of the Purchaser set forth in this Agreement in order to determine the applicability of such provisions.

 

2.9             
No Advertisements. It is not subscribing for the Warrants as a result of or subsequent to any advertisement, article,
notice or other communication published in any newspaper, magazine, or similar media or broadcast over television or radio, or presented
at any seminar or meeting.

 

2.10         
Legend. It acknowledges and agrees the the Warrants shall bear a restrictive legend (the “Legend”),
in form and substance as set forth in Section 4 hereof, prohibiting the offer, sale, pledge or transfer of the securities, except
(i) pursuant to an effective registration statement covering these securities under the Securities Act or (ii) pursuant to any
other exemptions from the registration requirements under the Securities Act and such laws which, in the opinion of counsel for the Company,
is available.

 

    	 	3	 

     

    

 

2.11         
Experience, Financial Capability and Suitability. It is (i) sophisticated in financial matters and is able to evaluate
the risks and benefits of the investment in the Securities and (ii) able to bear the economic risk of his investment in the Securities
for an indefinite period of time because the Securities have not been registered under the Securities Act and therefore cannot be sold
unless subsequently registered under the Securities Act or an exemption from such registration is available. It has substantial experience
in evaluating and investing in transactions of securities in companies similar to the Company so that it is capable of evaluating the
merits and risks of its investment in the Company and has the capacity to protect its own interests. It has substantial experience in
evaluating and investing in transactions of securities in companies similar to the Company so that it is capable of evaluating the merits
and risks of its investment in the Company and has the capacity to protect its own interests.

 

2.12         
Investment Purposes. It is purchasing the Securities solely for investment purposes, for its own account and not
for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof and it has no present
arrangement to sell the interest in the Securities to or through any person or entity.

 

2.13         
Restrictions on Transfer. It acknowledges and understands the Warrants are being offered in a transaction not involving
a public offering in the United States within the meaning of the Securities Act. The Securities have not been registered under the Securities
Act, and, if in the future, it decides to offer, resell, pledge or otherwise transfer the Securities, such Securities may be offered,
resold, pledged or otherwise transferred only (A) pursuant to an effective registration statement filed under the Securities Act,
(B) pursuant to an exemption from registration under Rule 144 promulgated under the Securities Act (“Rule 144”),
if available, or (C) pursuant to any other available exemption from the registration requirements of the Securities Act, and in each
case in accordance with any applicable securities laws of any state or any other jurisdiction. It agrees that if any transfer of its Securities
or any interest therein is proposed to be made, as a condition precedent to any such transfer, it may be required to deliver to the Company
an opinion of counsel satisfactory to the Company. Absent registration or another available exemption from registration, it agrees it
will not resell the Securities. It further acknowledges that because the Company is a shell company, Rule 144 may not be available to
it for the resale of the Securities until the one year anniversary following consummation of the initial Business Combination (defined
below) of the Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer
restrictions.

 

3.             Representations and Warranties of the Company

 

The Company represents and
warrants to the Purchaser that:

Valid Issuance of Share
Capital. The total number of all classes of share capital which the Company has authority to issue is (i) 100,000,000 Class A Ordinary
Shares, (ii) 100 Class B ordinary shares, and (iii) 1,000,000 undesignated preference shares. As of the date hereof, the Company has issued
1,725,000 Class A ordinary shares, 1 Class B ordinary share that will automatically be canceled at the time of the Company’s initial
Business Combination (as defined below) and has not issued any preference shares. All of the issued share capital of the Company has been
duly authorized, validly issued, and are fully paid and non-assessable.

 

    	 	4	 

     

    

 

3.1             
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the
warrant agreement to be entered into with CST on or prior to the closing of the IPO (the “Warrant Agreement”)
and the Amended and Restated Memorandum and Articles of Association of the Company, as the case may be, each of the Warrants will be duly
and validly issued, fully paid and non-assessable. On the date of issuance of the Warrants, the Ordinary Shares underlying the Warrants
(the “Warrant Shares”) shall have been reserved for issuance. Upon issuance in accordance with the terms hereof, the Amended
and Restated Memorandum and Articles of Association of the Company, the Purchaser will have or receive good title to the Warrants Shares,
free and clear of all liens, claims and encumbrances of any kind other than (i) transfer restrictions hereunder and pursuant to the registration
rights agreement to be entered into on or prior to the closing of the IPO (the “Registration Rights Agreement”)
and (ii) transfer restrictions under federal and state securities laws.

 

3.2             
Organization and Qualification. The Company has been duly incorporated and is validly existing as a British Virgin
Islands business company and has the requisite corporate power to own its properties and assets and to carry on its business as now being
conducted.

 

3.3             
Authorization; Enforcement. (i) The Company has the requisite corporate power and authority to enter into and
perform its obligations under this Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution,
delivery and performance of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been
duly authorized by all necessary corporate action, and (iii) this Agreement constitutes, and upon the execution and delivery thereof,
the Warrants and Warrant Agreement, will constitute, valid and binding obligations of the Company enforceable against the Company in accordance
with their respective terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance,
moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies
or by equitable principles of general application and except as enforcement of rights to indemnity and contribution may be limited by
federal and state securities laws or principles of public policy.

 

3.4             
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the
transactions contemplated hereby do not (i) result in a violation of the Company’s Memorandum and Articles of Association,
(ii) conflict with, or constitute a default under any agreement, indenture or instrument to which the Company is a party or (iii)
conflict with any law statute, rule or regulation to which the Company is subject or any agreement, order, judgment or decree to which
the Company is subject. Other than any federal, state or foreign securities filings which may be required to be made by the Company subsequent
to the Closing, and any registration statement which may be filed pursuant thereto, the Company is not required under federal, state or
local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or
governmental agency or self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the Warrants
or the Warrant Shares in accordance with the terms hereof.

 

    	 	5	 

     

    

 

4.             Legends

 

4.1             
Legend. The Company will issue the Warrants, and when issued, and the Warrant Shares, purchased by the Purchaser,
in the name of the Purchaser. The Securities will bear the following Legend and appropriate “stop transfer” instructions:

 

THESE SECURITIES (i) HAVE
NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THESE SECURITIES
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT FILED UNDER THE
SECURITIES ACT, (B) TO A NON-U.S. PERSON IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, (C) PURSUANT TO THE RESALE LIMITATIONS SET FORTH IN RULE 905 OF REGULATION S UNDER THE SECURITIES ACT, (D) PURSUANT TO
AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO ANY OTHER EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES OR ANY OTHER JURISDICTION. HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH
THE SECURITIES ACT.

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO AN AGREEMENT BETWEEN A SPAC I ACQUISITION CORP. AND A SPAC (HOLDINGS) ACQUISITION CORP. AND MAY ONLY
BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP PURSUANT TO THE TERMS SET FORTH THEREIN.”

 

4.2             
Purchaser’s Compliance. Nothing in this Section 4 shall affect in any way the Purchaser’s obligations
and agreements to comply with all applicable securities laws upon resale of the Securities.

 

4.3             
Company’s Refusal to Register Transfer of the Securities. The Company shall refuse to register any transfer
of the Securities, if in the sole judgment of the Company such purported transfer would not be made (i) pursuant to an effective
registration statement filed under the Securities Act, or (ii) pursuant to an available exemption from the registration requirements
of the Securities Act.

 

4.4             
Registration Rights. The Purchaser will be entitled to certain registration rights which will be governed by a registration
rights agreement (“Registration Rights Agreement”) to be entered into with the Company on or prior to the closing
of the IPO.

 

5.             Lockup

 

The Purchaser acknowledges
and agrees that the Warrants and the Warrant Shares shall not be transferable, saleable or assignable except as described in the Warrant
Agreement.

 

    	 	6	 

     

    

 

6.             Securities Laws Restrictions

 

The Purchaser agrees not to
sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Securities unless, prior thereto (a) a registration
statement on the appropriate form under the Securities Act and applicable state securities laws with respect to the Securities proposed
to be transferred shall then be effective or (b) the Company shall have received an opinion from counsel reasonably satisfactory
to the Company, that such registration is not required because such transaction complies with the Securities Act and the rules promulgated
by the Securities and Exchange Commission thereunder and with all applicable state securities laws.

 

7.             Waiver of Distributions from Trust Account

 

In connection with the Securities
purchased pursuant to this Agreement, the Purchaser hereby waives any and all right, title, interest or claim of any kind in or to any
distributions from the Trust Account.

 

8.             Rescission Right Waiver and Indemnification

 

8.1             
Rescission Waiver. The Purchaser understands and acknowledges that an exemption from the registration requirements
of the Securities Act requires there be no general solicitation of purchasers of the Warrants. In this regard, if the Offering were deemed
to be a general solicitation with respect to the Warrants, the offer and sale of such Warrants may not be exempt from registration and,
if not, the Purchaser may have a right to rescind its purchase of the Warrants. In order to facilitate the completion of the Offering
and in order to protect the Company, its shareholders and the Trust Account from claims that may adversely affect the Company or the interests
of its shareholders, the Purchaser hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue
or rights in law or arbitration, as the case may be, to seek rescission of its purchase of the Warrants as a result of the issuance of
the Warrants being deemed to be in violation of Section 5 of the Securities Act. The Purchaser acknowledges and agrees this waiver is
being made in order to induce the Company to sell the Warrants to the Purchaser. The Purchaser agrees the foregoing waiver of rescission
rights shall apply to any and all known or unknown actions, causes of action, suits, claims or proceedings (collectively, “Claims”)
and related losses, costs, penalties, fees, liabilities and damages, whether compensatory, consequential or exemplary, and expenses in
connection therewith, including reasonable attorneys’ and expert witness fees and disbursements and all other expenses reasonably
incurred in investigating, preparing or defending against any Claims, whether pending or threatened, in connection with any present or
future actual or asserted right to rescind the purchase of the Warrants hereunder or relating to the purchase of the Warrants and the
transactions contemplated hereby.

 

8.2             
No Recourse Against Trust Account. The Purchaser agrees not to seek recourse against the Trust Account for any reason
whatsoever in connection with its purchase of the Warrants or any Claim that may arise now or in the future.

 

8.3             
Section 8 Waiver. The Purchaser agrees that to the extent any waiver of rights under this Section 8 is ineffective
as a matter of law, the Purchaser has offered such waiver for the benefit of the Company as an equitable right that shall survive any
statutory disqualification or bar that applies to a legal right. The Purchaser acknowledges the receipt and sufficiency of consideration
received from the Company hereunder in this regard.

 

    	 	7	 

     

    

 

9.             Terms of the Warrants

 

The Units shall be
substantially identical to the Warrants offered in the IPO as set forth in the Underwriting Agreement, except as described in the
Warrant Agreement.

 

10.           Governing Law; Jurisdiction; Waiver of Jury Trial

 

This Agreement shall be governed
by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed within such territory.
The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to this Agreement and the transactions
contemplated hereby.

 

11.           Assignment; Entire Agreement; Amendment

 

11.1         
Assignment. Neither this Agreement nor any rights hereunder may be assigned by any party to any other person other
than by the Purchaser, without the prior consent of the Company, to one or more persons agreeing to be bound by the terms hereof. Upon
such assignment by a Purchaser, the assignee(s) shall become Purchaser hereunder and have the rights and obligations provided for herein
to the extent of such assignment.

 

11.2         
Entire Agreement. This Agreement sets forth the entire agreement and understanding between the parties as to
the subject matter hereof and supersedes any and all prior discussions, agreements and understandings of any and every nature.

 

11.3         
Amendment. Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended,
waived, discharged or terminated other than by a written instrument signed by the party against whom enforcement of any such amendment,
waiver, discharge or termination is sought.

 

11.4         
Binding upon Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and
to their respective heirs, legal representatives, successors and permitted assigns.

 

12.           Notices; Indemnity

 

12.1         
Notices. All notices, requests, consents and other communications hereunder shall be in writing, shall be addressed
to the receiving party’s address set forth herein or to such other address as a party may designate by notice hereunder, and shall
be either (a) delivered by hand, (b) sent by overnight courier, or (c) sent by certified mail, return receipt requested, postage prepaid.
All notices, requests, consents and other communications hereunder shall be deemed to have been given either (i) if by hand, at the time
of the delivery thereof to the receiving party at the address of such party set forth above, (ii) if sent by overnight courier, on the
next business day following the day such notice is delivered to the courier service, or (iii) if sent by certified mail, on the fifth
business day following the day such mailing is made.

 

    	 	8	 

     

    

 

12.2         
Indemnification. Except as set forth in Section 8, each party shall indemnify the other party against any loss, cost
or damages (including reasonable attorney’s fees and expenses) incurred as a result of such party’s breach of any representation,
warranty, covenant or agreement set forth in this Agreement.

 

13.          Counterparts

This Agreement may be executed
in one or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign
the same counterpart.  In the event that any signature is delivered by facsimile transmission or any other form of electronic delivery,
such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with
the same force and effect as if such signature page were an original thereof.

 

14.           Survival; Severability

 

14.1         
Survival. The representations, warranties, covenants and agreements of the parties hereto shall survive the Closing
until one (1) year following the consummation of an initial Business Combination.

 

14.2         
Severability. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction
to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided that
no such severability shall be effective if it materially changes the economic benefit of this Agreement to any party.

 

15.           Headings

 

The titles and subtitles used
in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

16.           Construction

 

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

 

[remainder of page intentionally left blank]

 

    	 	9	 

     

    

 

This subscription is accepted by the Company as of the date first written
above.

  

	By:	 
	Name:	Claudius Tsang 
	Title:	Chief Executive Officer and Chief Financial Officer

 

Accepted and agreed this

 

___________ day of [ ], 2021

 

A SPAC (HOLDINGS) ACQUISITION CORP.

 

	By:	 
	Name:	Claudius Tsang
	Title:	Authorized Signatory

 

[Signature Page for Warrant Subscription Agreement]

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