Document:

Exhibit 4.2

  

  

  

  
    
      ARYA SCIENCES ACQUISITION CORP IV

      DESCRIPTION OF SECURITIES

    

    
      

      

    

    
      The following summary of the material terms of the securities of ARYA Sciences Acquisition Corp IV is not intended to be a complete
        summary of the rights and preferences of such securities and is subject to and qualified by reference to our amended and restated memorandum and articles of association and applicable Cayman Islands law. We urge you to read our amended and restated
        memorandum and articles of association in their entirety for a complete description of the rights and preferences of our securities.

    

    
      

      

    

    
      Certain Terms

    

    
      

      

    

    
      Unless otherwise stated in this exhibit to the Report or the context otherwise requires, references to:

    

    
      

      

    

    
      	

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              “Companies Act” are to the Companies Act (As Revised) of the Cayman Islands as the same may be amended from time to time; “company,” “we,” “us,”
                “our,” or “our company” are to ARYA Sciences Acquisition Corp IV, a Cayman Islands exempted company;

            

    

    
      

      

    

    
      	

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              “founder shares” are to our Class B ordinary shares initially issued to our sponsor in a private placement prior to our Initial Public Offering and
                the Class A ordinary shares that will be issued upon the automatic conversion of the Class B ordinary shares at the time of our initial business combination (for the avoidance of doubt, such Class A ordinary shares will not be “public
                shares”);

            

    

    
      

      

    

    
      	

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              “initial shareholders” are to our sponsor and independent directors;

            

    

    
      

      

    

    
      	

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              “Initial Public Offering” refers to our initial public offering for our Class A ordinary shares;

            

    

    
      

      

    

    
      	

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              “management” or “our management team” are to our executive officers and directors (including our directors who became directors at the consummation of
                our Initial Public Offering);

            

    

    
      

      

    

    
      	

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              “ordinary shares” are to our Class A ordinary shares and our Class B ordinary shares;

            

    

    
      

      

    

    
      	

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              “private placement shares” are to the Class A ordinary shares issued to our sponsor in a private placement simultaneously with the closing of our
                Initial Public Offering (which private placement shares are identical to the shares sold in our Initial Public Offering, subject to certain limited exceptions) and upon conversion of working capital loans;

            

    

    
      

      

    

    
      	

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              “public shareholders” are to the holders of our public shares, including our sponsor and management team to the extent our sponsor and/or members of
                our management team purchase public shares, provided that our sponsor’s and each member of our management team’s status as a “public shareholder” will only exist with respect to such public shares;

            

    

    
      

      

    

    
      	

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              “public shares” are to our Class A ordinary shares to be sold in our Initial Public Offering (whether they are purchased in our Initial Public
                Offering or thereafter in the open market); and

            

    

    
      

      

    

    
      	

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              “sponsor” refers to to ARYA Sciences Holdings IV, a Cayman Islands exempted limited company.

            

    

    
      

      

    

    
      General

    

    
      

      

    

    
      We are a Cayman Islands exempted company and our affairs are governed by our amended and restated memorandum and articles of association,
        the Companies Act and the common law of the Cayman Islands. Pursuant to our amended and restated memorandum and articles of association, we are authorized to issue 479,000,000 Class A ordinary shares and 20,000,000 Class B ordinary shares, as well
        as 1,000,000 preference shares, $0.0001 par value each. The following description summarizes certain terms of our shares as set out more particularly in our amended and restated memorandum and articles of association. Because it is only a summary,
        it may not contain all the information that is important to you.

    

    
      

      

      
        
          

      

    

    
      Ordinary Shares

    

    
      

      

    

    
      Upon the closing of the Initial Public Offering, 19,186,500 of our ordinary shares were outstanding, including:

    

    
      

      

    

    
      	

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              14,950,000 Class A ordinary shares issued as as part of our Initial Public Offering;

            

    

    
      

      

    

    
      	

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              499,000 private placement shares issued simultaneously with the closing of our Initial Public Offering; and

            

    

    
      

      

    

    
      	

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              3,737,500 Class B ordinary shares held by our initial shareholders.

            

    

    

    

    
      Ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders. Holders of
        Class A ordinary shares and holders of Class B ordinary shares will vote together as a single class on all matters submitted to a vote of our shareholders except as required by law. Unless specified in our amended and restated memorandum and
        articles of association, or as required by applicable provisions of the Companies Act or applicable stock exchange rules, the affirmative vote of a majority of our ordinary shares that are voted is required to approve any such matter voted on by
        our shareholders. Approval of certain actions will require a special resolution under Cayman Islands law, being the affirmative vote of at least two-thirds of our ordinary shares that are voted, and pursuant to our amended and restated memorandum
        and articles of association; such actions include amending our amended and restated memorandum and articles of association and approving a statutory merger or consolidation with another company. Our board of directors is divided into three classes,
        each of which will generally serve for terms of three years with only one class of directors being elected in each year. There is no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of
        the shares voted for the election of directors can elect all of the directors. Our shareholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. Prior to our
        initial business combination, only holders of our founder shares will have the right to vote on the election of directors. Holders of our public shares will not be entitled to vote on the election of directors during such time. In addition, prior
        to the completion of an initial business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. The provisions of our amended and restated memorandum and articles of association
        governing the appointment or removal of directors prior to our initial business combination may only be amended by a special resolution passed by holders representing at least two-thirds of our outstanding Class B ordinary shares.

    

    
      

      

    

    
      Because our amended and restated memorandum and articles of association authorize the issuance of up to 479,000,000 Class A ordinary
        shares, if we were to enter into a business combination, we may (depending on the terms of such a business combination) be required to increase the number of Class A ordinary shares which we are authorized to issue at the same time as our
        shareholders vote on the business combination to the extent we seek shareholder approval in connection with our initial business combination.

      

      

      Our board of directors is divided into three classes with only one class of directors being elected in each year and each class (except
        for those directors appointed prior to our first annual meeting of shareholders) serving a three-year term. In accordance with the corporate governance requirements of The Nasdaq Capital Market (“Nasdaq”), we are not required to hold an annual
        meeting until one year after our first fiscal year end following our listing on Nasdaq. As an exempted company, there is no requirement under the Companies Act for us to hold annual or shareholder meetings to elect directors. We may not hold an
        annual meeting of shareholders to elect new directors prior to the consummation of our initial business combination. Prior to the completion of an initial business combination, any vacancy on the board of directors may be filled by a nominee chosen
        by holders of a majority of our founder shares. In addition, prior to the completion of an initial business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason.

    

    
      

      

      
        
          

      

    

    
      We will provide our public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our
        initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business days prior to the consummation of our initial business combination, including
        interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any, divided by the number of the then-outstanding public shares, subject to the limitations described herein. The amount in the
        trust account is initially anticipated to be $10.00 per public share. The per share amount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting commissions we will pay to the
        underwriters. The redemption rights may include the requirement that a beneficial owner must identify itself in order to valid redeem its shares. Our sponsor and our management team have entered into an agreement with us, pursuant to which they
        have agreed to waive their redemption rights with respect to their founder shares, private placement shares and any public shares purchased during or after our Initial Public Offering in connection with (i) the completion of our initial business
        combination and (ii) a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the
        right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of our Initial Public Offering
        or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares. Unlike many blank check companies that hold shareholder votes and conduct proxy solicitations in conjunction with their initial business
        combinations and provide for related redemptions of public shares for cash upon completion of such initial business combinations even when a vote is not required by law, if a shareholder vote is not required by applicable law or stock exchange rule
        and we do not decide to hold a shareholder vote for business or other reasons, we will, pursuant to our amended and restated memorandum and articles of association, conduct the redemptions pursuant to the tender offer rules of the SEC, and file
        tender offer documents with the SEC prior to completing our initial business combination. Our amended and restated memorandum and articles of association require these tender offer documents to contain substantially the same financial and other
        information about the initial business combination and the redemption rights as is required under the SEC’s proxy rules. If, however, a shareholder approval of the transaction is required by applicable law or stock exchange rule, or we decide to
        obtain shareholder approval for business or other reasons, we will, like many blank check companies, offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek
        shareholder approval, we will complete our initial business combination only if a majority of the ordinary shares, represented in person or by proxy and entitled to vote thereon, voted at a shareholder meeting are voted in favor of the business
        combination. However, the participation of our sponsor, officers, directors, advisors or their affiliates in privately-negotiated transactions (as described in the final prospectus), if any, could result in the approval of our initial business
        combination even if a majority of our public shareholders vote, or indicate their intention to vote, against such initial business combination unless restricted by applicable Nasdaq rules. For purposes of seeking approval of the majority of our
        issued and outstanding ordinary shares, non-votes will have no effect on the approval of our initial business combination once a quorum is obtained. Our amended and restated memorandum and articles of association require that at least five clear
        days’ notice will be given of any shareholder meeting.

    

    
      

      

    

    
      If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial
        business combination pursuant to the tender offer rules, our amended and restated memorandum and articles of association provide that a public shareholder, together with any affiliate of such shareholder or any other person with whom such
        shareholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares sold in our Initial Public Offering,
        without our prior consent, which we refer to as the “Excess Shares.” However, we would not be restricting our shareholders’ ability to vote all of their shares (including Excess Shares) for or against our initial business combination. Our
        shareholders’ inability to redeem the Excess Shares will reduce their influence over our ability to complete our initial business combination, and such shareholders could suffer a material loss in their investment if they sell such Excess Shares on
        the open market. Additionally, such shareholders will not receive redemption distributions with respect to the Excess Shares if we complete our initial business combination. And, as a result, such shareholders will continue to hold that number of
        shares exceeding 15% and, in order to dispose such shares would be required to sell their shares in open market transactions, potentially at a loss.

    

    
      

      

      
        
          

      

    

    
      If we seek shareholder approval, we will complete our initial business combination only if a majority of the ordinary shares, represented
        in person or by proxy and entitled to vote thereon, voted at a shareholder meeting are voted in favor of the business combination. In such case, our sponsor and each member of our management team have agreed to vote their founder shares, private
        placement shares and public shares purchased during or after our Initial Public Offering in favor of our initial business combination. As a result, in addition to our initial shareholders’ founder shares and private placement shares, we would need
        5,356,751, or 35.83%, of the 14,950,000 public shares sold in our Initial Public Offering to be voted in favor of an initial business combination in order to have our initial business combination approved (assuming all issued and outstanding shares
        are voted). The other members of our management team are subject to the same arrangements with respect to any public shares acquired by them in or after our Initial Public Offering. Additionally, each public shareholder may elect to redeem their
        public shares irrespective of whether they vote for or against the proposed transaction or vote at all.

    

    
      

      

    

    
      Pursuant to our amended and restated memorandum and articles of association, if we do not consummate an initial business combination
        within 24 months from the closing of our Initial Public Offering, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public
        shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any
        (less up to $100,000 of interest to pay dissolution expenses), divided by the number of the then-outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive
        further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case of
        clause (ii) and (iii), to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. Our sponsor and each member of our management team have entered into an agreement with us, pursuant
        to which they have agreed to waive their rights to liquidating distributions from the trust account with respect to any founder shares or private placement shares they hold if we fail to consummate an initial business combination within 24 months
        from the closing of our Initial Public Offering (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within 24 months
        from the closing of our Initial Public Offering).

    

    
      

      

    

    
      In the event of a liquidation, dissolution or winding up of the company after a business combination, our shareholders are entitled to
        share ratably in all assets remaining available for distribution to them after payment of liabilities and after provision is made for each class of shares, if any, having preference over the ordinary shares. Our shareholders have no preemptive or
        other subscription rights. There are no sinking fund provisions applicable to the ordinary shares, except that we will provide our public shareholders with the opportunity to redeem their public shares for cash at a per share price equal to the
        aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any, divided by the number of the then-outstanding public shares,
        upon the completion of our initial business combination, subject to the limitations described herein.

    

    
      

      

    

    
      Private Placement Shares

    

    
      

      

    

    
      The private placement shares are not transferable or salable until 30 days after the completion of our initial business combination
        (except, among other limited exceptions, to our officers and directors and other persons or entities affiliated with our sponsor). Holders of our private placement shares are entitled to certain registration rights. If we do not consummate an
        initial business combination within 24 months from the closing of our Initial Public Offering, the proceeds from the sale of the private placement shares held in the trust account will be used to fund the redemption of our public shares (subject to
        the requirements of applicable law) and the private placement shares will be worthless. Further, if we seek shareholder approval, we will complete our initial business combination only if a majority of the ordinary shares, represented in person or
        by proxy and entitled to vote thereon, voted at a shareholder meeting are voted in favor of the business combination. In such case, our sponsor and each member of our management team have agreed to vote their founder shares, private placement
        shares and any public shares purchased during or after our Initial Public Offering in favor of our initial business combination. Otherwise, the private placement shares are identical to the Class A ordinary shares sold in our Initial Public
        Offering.

    

    
      

      

      
        
          

      

    

    
      Our sponsor and our management team have agreed not to transfer, assign or sell any of their private placement shares, until 30 days
        after the completion of our initial business combination, except that, among other limited exceptions, to our officers and directors and other persons or entities affiliated with our sponsor” made to our officers and directors and other persons or
        entities affiliated with our sponsor.

    

    
      

      

    

    
      In order to fund working capital deficiencies or finance transaction costs in connection with an intended initial business combination,
        our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required. Up to $1,500,000 of such loans may be convertible into shares of the post-business combination
        company at a price of $10.00 per share at the option of the lender. Such shares would be identical to the private placement shares.

    

    
      

      

    

    
      Founder Shares

    

    
      

      

    

    
      The founder shares are designated as Class B ordinary shares and, except as described below, are identical to the Class A ordinary shares
        sold in our Initial Public Offering, and holders of founder shares have the same shareholder rights as public shareholders, except that:

    

    
      

      

    

    
      	

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              the founder shares are subject to certain transfer restrictions, as described in more detail below;

            

       

      

      	

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              our sponsor and our management team have entered into an agreement with us, pursuant to which they have agreed to (i) waive their redemption rights
                with respect to any founder shares, private placement shares and public shares they hold, (ii) to waive their redemption rights with respect to any founder shares, private placement shares and any public shares purchased during or after our
                Initial Public Offering in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of
                our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the
                closing of our Initial Public Offering or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares and (iii) waive their rights to liquidating distributions from the trust account with respect
                to any founder shares or private placement shares they hold if we fail to consummate an initial business combination within 24 months from the closing of our Initial Public Offering (although they will be entitled to liquidating
                distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within 24 months from the closing of our Initial Public Offering);

            

       

      

      	

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              the founder shares will automatically convert into our Class A ordinary shares at the time of our initial business combination as described in our
                amended and restated memorandum and articles of association; and

            

       

      

      	

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              the founder shares are entitled to registration rights.

            

    

    
      

      

    

    
      If we submit our initial business combination to our public shareholders for a vote, our sponsor and our management team have agreed to
        vote their founder shares, private placement shares and any public shares purchased during or after our Initial Public Offering in favor of our initial business combination. If we seek shareholder approval, we will complete our initial business
        combination only if a majority of the ordinary shares, represented in person or by proxy and entitled to vote thereon, voted at a shareholder meeting are voted in favor of the business combination. In such case, our sponsor and each member of our
        management team have agreed to vote their founder shares, private placement shares and any public shares purchased during or after our Initial Public Offering in favor of our initial business combination. As a result, in addition to our initial
        shareholders’ founder shares and private placement shares, we would need 5,356,751, or 35.83%, of the 14,950,000 public shares sold in our Initial Public Offering to be voted in favor of an initial business combination in order to have our initial
        business combination approved (assuming all issued and outstanding shares are voted and the private placement shares to be issued to our sponsor are voted in favor of the transaction).

    

    
      

      

      
        
          

      

    

    
      The founder shares will automatically convert into Class A ordinary shares on the first business day following the consummation of our
        initial business combination at a ratio such that the number of Class A ordinary shares issuable upon conversion of all founder shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of ordinary shares
        issued and outstanding (excluding the private placement shares) upon completion of our Initial Public Offering, plus (ii) the sum of the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any
        equity-linked securities or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of the initial business combination, excluding any Class A ordinary shares or equity-linked securities exercisable for
        or convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller in the initial business combination and any private placement shares issued to our sponsor, members of our management team or any of their affiliates
        upon conversion of working capital loans. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than one to one.

    

    
      

      

    

    
      Except as described herein, our sponsor and our management team have agreed not to transfer, assign or sell any of their founder shares
        until the earliest of (A) one year after the completion of our initial business combination and (B) subsequent to our initial business combination, (x) if the closing price of our Class A ordinary shares equals or exceeds $12.00 per share (as
        adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination, or (y) the date on
        which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property. Any
        permitted transferees will be subject to the same restrictions and other agreements of our sponsor and management team with respect to any founder shares and private placement shares. We refer to such transfer restrictions throughout this exhibit
        as the lock-up. Notwithstanding the foregoing, if the closing price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20
        trading days within any 30-trading day period commencing at least 150 days after our initial business combination, the founder shares will be released from the lock-up.

      

      

      Prior to the completion of our initial business combination, only holders of our founder shares will have the right to vote on the
        election of directors. Holders of our public shares will not be entitled to vote on the election of directors during such time. In addition, prior to the completion of an initial business combination, holders of a majority of our founder shares may
        remove a member of the board of directors for any reason. These provisions of our amended and restated memorandum and articles of association may only be amended by a special resolution passed by holders representing at least two-thirds of our
        outstanding Class B ordinary shares. With respect to any other matter submitted to a vote of our shareholders, including any vote in connection with our initial business combination, except as required by law, holders of our founder shares and
        holders of our public shares will vote together as a single class, with each share entitling the holder to one vote.

    

    
      

      

    

    
      Preference Shares

    

    
      

      

    

    
      Our amended and restated memorandum and articles of association authorize 1,000,000 preference shares and provide that preference shares
        may be issued from time to time in one or more series. Our board of directors is authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating, optional or other special rights and any qualifications,
        limitations and restrictions thereof, applicable to the shares of each series. Our board of directors is able to, without shareholder approval, issue preference shares with voting and other rights that could adversely affect the voting power and
        other rights of the holders of the ordinary shares and could have anti-takeover effects. The ability of our board of directors to issue preference shares without shareholder approval could have the effect of delaying, deferring or preventing a
        change of control of us or the removal of existing management. We have no preference shares issued and outstanding at the date hereof. Although we do not currently intend to issue any preference shares, we cannot assure you that we will not do so
        in the future. No preference shares were issued or registered in our Initial Public Offering.

    

    
      

      

      
        
          

      

    

    
      Dividends

    

    
      

      

    

    
      We have not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our
        initial business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to completion of our initial business combination.
        The payment of any cash dividends subsequent to our initial business combination will be within the discretion of our board of directors at such time, and we will only pay such dividend out of our profits or share premium (subject to solvency
        requirements) as permitted under Cayman Islands law. Further, if we incur any indebtedness in connection with a business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith.

    

    
      

      

    

    
      Our Transfer Agent

    

    
      

      

    

    
      The transfer agent for our ordinary shares is Continental Stock Transfer & Trust Company. We have agreed to indemnify Continental
        Stock Transfer & Trust Company in its roles as transfer agent, its agents and each of its shareholders, directors, officers and employees against all claims and losses that may arise out of acts performed or omitted for its activities in that
        capacity, except for any claims and losses due to any gross negligence or intentional misconduct of the indemnified person or entity.

      

      

      Certain Differences in Corporate Law

    

    
      

      

    

    
      Cayman Islands companies are governed by the Companies Act. The Companies Act is modeled on English Law but does not follow recent
        English Law statutory enactments, and differs from laws applicable to United States corporations and their shareholders. Set forth below is a summary of the material differences between the provisions of the Companies Act applicable to us and the
        laws applicable to companies incorporated in the United States and their shareholders.

    

    
      

      

    

    
      Mergers and Similar Arrangements.
        In certain circumstances, the Companies Act allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman Islands exempted company and a company incorporated in another jurisdiction (provided that is facilitated by the laws of that other jurisdiction) so as to form a single surviving company.

    

    
      

      

    

    
      Where the merger or consolidation is between two Cayman Islands companies, the directors of each company must approve and enter into a
        written plan of merger or consolidation containing certain prescribed information. That plan or merger or consolidation must then be authorized by either (a) a special resolution (usually a majority of two-thirds in value of the voting shares voted
        at a shareholder meeting) of the shareholders of each company; or (b) such other authorization, if any, as may be specified in such constituent company’s articles of association. No shareholder resolution is required for a merger between a parent
        company (i.e., a company that owns at least 90% of the issued shares of each class in a subsidiary company) and its subsidiary company. The consent of each holder of a fixed or floating security interest of a constituent company must be obtained,
        unless the court waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the requirements of the Companies Act (which includes certain other formalities) have been complied with, the Registrar of Companies will
        register the plan of merger or consolidation.

    

    
      

      

      
        
          

      

    

    
      Where the merger or consolidation involves a foreign company, the procedure is similar, save that with respect to the foreign company,
        the directors of the Cayman Islands exempted company are required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the merger or consolidation is
        permitted or not prohibited by the constitutional documents of the foreign company and by the laws of the jurisdiction in which the foreign company is incorporated, and that those laws and any requirements of those constitutional documents have
        been or will be complied with; (ii) that no petition or other similar proceeding has been filed and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign company in any jurisdictions; (iii) that no receiver,
        trustee, administrator or other similar person has been appointed in any jurisdiction and is acting in respect of the foreign company, its affairs or its property or any part thereof; and (iv) that no scheme, order, compromise or other similar
        arrangement has been entered into or made in any jurisdiction whereby the rights of creditors of the foreign company are and continue to be suspended or restricted.

    

    
      

      

    

    
      Where the surviving company is the Cayman Islands exempted company, the directors of the Cayman Islands exempted company are further
        required to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the foreign company is able to pay its debts as they fall due and that the merger or
        consolidated is bona fide and not intended to defraud unsecured creditors of the foreign company; (ii) that in respect of the transfer of any security interest granted by the foreign company to the surviving or consolidated company (a) consent or
        approval to the transfer has been obtained, released or waived; (b) the transfer is permitted by and has been approved in accordance with the constitutional documents of the foreign company; and (c) the laws of the jurisdiction of the foreign
        company with respect to the transfer have been or will be complied with; (iii) that the foreign company will, upon the merger or consolidation becoming effective, cease to be incorporated, registered or exist under the laws of the relevant foreign
        jurisdiction; and (iv) that there is no other reason why it would be against the public interest to permit the merger or consolidation.

    

    
      

      

    

    
      Where the above procedures are adopted, the Companies Act provides certain limited appraisal rights for dissenting shareholders to be
        paid a payment of the fair value of his shares upon their dissenting to the merger or consolidation if they follow a prescribed procedure. In essence, that procedure is as follows: (a) the shareholder must give his written objection to the merger
        or consolidation to the constituent company before the vote on the merger or consolidation, including a statement that the shareholder proposes to demand payment for his shares if the merger or consolidation is authorized by the vote; (b) within 20
        days following the date on which the merger or consolidation is approved by the shareholders, the constituent company must give written notice to each shareholder who made a written objection; (c) a shareholder must within 20 days following receipt
        of such notice from the constituent company, give the constituent company a written notice of his intention to dissent including, among other details, a demand for payment of the fair value of his shares; (d) within seven days following the date of
        the expiration of the period set out in paragraph (b) above or seven days following the date on which the plan of merger or consolidation is filed, whichever is later, the constituent company, the surviving company or the consolidated company must
        make a written offer to each dissenting shareholder to purchase his shares at a price that the company determines is the fair value and if the company and the shareholder agree the price within 30 days following the date on which the offer was
        made, the company must pay the shareholder such amount; and (e) if the company and the shareholder fail to agree a price within such 30 day period, within 20 days following the date on which such 30 day period expires, the company (and any
        dissenting shareholder) must file a petition with the Cayman Islands Grand Court to determine the fair value and such petition must be accompanied by a list of the names and addresses of the dissenting shareholders with whom agreements as to the
        fair value of their shares have not been reached by the company. At the hearing of that petition, the court has the power to determine the fair value of the shares together with a fair rate of interest, if any, to be paid by the company upon the
        amount determined to be the fair value. Any dissenting shareholder whose name appears on the list filed by the company may participate fully in all proceedings until the determination of fair value is reached. These rights of a dissenting
        shareholder are not available in certain circumstances, for example, to dissenters holding shares of any class in respect of which an open market exists on a recognized stock exchange or recognized interdealer quotation system at the relevant date
        or where the consideration for such shares to be contributed are shares of any company listed on a national securities exchange or shares of the surviving or consolidated company.

    

    
      

      

      
        
          

      

    

    
      Moreover, Cayman Islands law has separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain
        circumstances, schemes of arrangement will generally be more suited for complex mergers or other transactions involving widely held companies, commonly referred to in the Cayman Islands as a “scheme of arrangement” which may be tantamount to a
        merger. In the event that a merger was sought pursuant to a scheme of arrangement (the procedures for which are more rigorous and take longer to complete than the procedures typically required to consummate a merger in the United States), the
        arrangement in question must be approved by a majority in number of each class of shareholders and creditors with whom the arrangement is to be made and who must in addition represent three-fourths in value of each such class of shareholders or
        creditors, as the case may be, that are present and voting either in person or by proxy at a meeting, or meeting summoned for that purpose. The convening of the meetings and subsequently the terms of the arrangement must be sanctioned by the Grand
        Court of the Cayman Islands. While a dissenting shareholder would have the right to express to the court the view that the transaction should not be approved, the court can be expected to approve the arrangement if it satisfies itself that:

      

      

    

    
      	

            	•	
              we are not proposing to act illegally or beyond the scope of our corporate authority and the statutory provisions as to majority vote have been
                complied with;

            

       

      

      	

            	•	
              the shareholders have been fairly represented at the meeting in question;

            

       

      

      	

            	•	
              the arrangement is such as a businessman would reasonably approve; and

            

       

      

      	

            	•	
              the arrangement is not one that would more properly be sanctioned under some other provision of the Companies Act or that would amount to a “fraud on
                the minority.”

            

    

    
      

      

      If a scheme of arrangement or takeover offer (as described below) is approved, any dissenting shareholder would have no rights comparable
        to appraisal rights (providing rights to receive payment in cash for the judicially determined value of the shares), which would otherwise ordinarily be available to dissenting shareholders of United States corporations.

    

    
      

      

    

    
      Squeeze-out Provisions. When a
        tender offer is made and accepted by holders of 90% of the shares to whom the offer relates within four months, the offeror may, within a two-month period, require the holders of the remaining shares to transfer such shares on the terms of the
        offer. An objection can be made to the Grand Court of the Cayman Islands, but this is unlikely to succeed unless there is evidence of fraud, bad faith, collusion or inequitable treatment of the shareholders.

    

    
      

      

    

    
      Further, transactions similar to a merger, reconstruction and/or an amalgamation may in some circumstances be achieved through means
        other than these statutory provisions, such as a share capital exchange, asset acquisition or control, or through contractual arrangements of an operating business.

    

    
      

      

    

    
      Shareholders’ Suits. Our Cayman
        Islands counsel is not aware of any reported class action having been brought in a Cayman Islands court. Derivative actions have been brought in the Cayman Islands courts, and the Cayman Islands courts have confirmed the availability for such
        actions. In most cases, we will be the proper plaintiff in any claim based on a breach of duty owed to us, and a claim against (for example) our officers or directors usually may not be brought by a shareholder. However, based both on Cayman
        Islands authorities and on English authorities, which would in all likelihood be of persuasive authority and be applied by a court in the Cayman Islands, exceptions to the foregoing principle apply in circumstances in which:

      

      

    

    
      	

            	•	
              a company is acting, or proposing to act, illegally or ultra vires (beyond the scope of its authority);

            

    

    
      

      

    

    
      	

            	•	
              the act complained of, although not beyond the scope of the authority, could be effected if duly authorized by more than the number of votes which
                have actually been obtained; or

            

    

    
      

      

    

    
      	

            	•	
              those who control the company are perpetrating a “fraud on the minority.”

            

    

    
      

      

      A shareholder may have a direct right of action against us where the individual rights of that shareholder have been infringed or are
        about to be infringed.

    

    
      

      

    

    
      Enforcement of Civil Liabilities.
        The Cayman Islands has a different body of securities laws as compared to the United States and provides less protection to investors. Additionally, Cayman Islands companies may not have standing to sue before the Federal courts of the United
        States.

    

    
      

      

      
        
          

      

    

    
      We have been advised by our Cayman Islands legal counsel that the courts of the Cayman Islands are unlikely (i) to recognize or enforce
        against us judgments of courts of the United States predicated upon the civil liability provisions of the federal securities laws of the United States or any state; and (ii) in original actions brought in the Cayman Islands, to impose liabilities
        against us predicated upon the civil liability provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those provisions are penal in nature. In those circumstances, although there is no
        statutory enforcement in the Cayman Islands of judgments obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without retrial on the merits
        based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must not be in respect of taxes or a fine or
        penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural justice or the public policy of
        the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). A Cayman Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

    

    
      

      

    

    
      Special Considerations for Exempted
          Companies. We are an exempted company with limited liability (meaning our public shareholders have no liability, as members of the company, for liabilities of the company over and above the amount paid for their shares) under the Companies
        Act. The Companies Act distinguishes between ordinary resident companies and exempted companies. Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to be registered as an
        exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except for the exemptions and privileges listed below:

      

      

    

    
      	

            	•	
              annual reporting requirements are minimal and consist mainly of a statement that the company has conducted its operations mainly outside of the Cayman
                Islands and has complied with the provisions of the Companies Act;

            

    

    
      

      

    

    
      	

            	•	
              an exempted company’s register of members is not open to inspection;

            

    

    
      

      

    

    
      	

            	•	
              an exempted company does not have to hold an annual shareholder meeting;

            

    

    
      

      

    

    
      	

            	•	
              an exempted company may issue negotiable or bearer shares or shares with no par value;

            

    

    
      

      

    

    
      	

            	•	
              an exempted company may obtain an undertaking against the imposition of any future taxation (such undertakings are usually given for 20 years in the
                first instance);

            

    

    
      

      

    

    
      	

            	•	
              an exempted company may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands;

            

    

    
      

      

    

    
      	

            	•	
              an exempted company may register as a limited duration company; and

            

    

    
      

      

    

    
      	

            	•	
              an exempted company may register as a segregated portfolio company.

            

    

    
      

      

      Amended and Restated Memorandum and Articles of Association

    

    
      

      

    

    
      Our amended and restated memorandum and articles of association contain provisions designed to provide certain rights and protections
        that apply to us until the completion of our initial business combination. These provisions cannot be amended without a special resolution. As a matter of Cayman Islands law, a resolution is deemed to be a special resolution where it has been
        approved by either (i) the affirmative vote of at least two-thirds (or any higher threshold specified in a company’s articles of association) of a company’s shareholders entitled to vote and so voting at a shareholder meeting for which notice
        specifying the intention to propose the resolution as a special resolution has been given; or (ii) if so authorized by a company’s articles of association, by a unanimous written resolution of all of the company’s shareholders. Our amended and
        restated memorandum and articles of association provide that special resolutions must be approved either by at least two-thirds of our shareholders who attend and vote at a shareholder meeting of the company (i.e., the lowest threshold permissible
        under Cayman Islands law), or by a unanimous written resolution of all of our shareholders. Further, our amended and restated memorandum and articles of association provide that a quorum at our shareholder meetings consists of one or more
        shareholders who together hold not less than one-third of the ordinary shares entitled to vote at such meeting being individuals present in person or by proxy; provided that a quorum in connection with any meeting that is convened to vote on a
        business combination or any amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their
        shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of our Initial Public Offering or (B) with respect
        to any other provision relating to the rights of holders of our Class A ordinary shares shall be a majority of the ordinary shares entitled to vote at such meeting being individuals present in person or by proxy or if a corporation or other
        non-natural person by its duly authorized representative or proxy.

    

    
      

      

      
        
          

      

    

    
      Our initial shareholders and their permitted transferees, if any, who collectively beneficially own 20% of our ordinary shares (excluding
        the private placement shares) upon the closing of our Initial Public Offering, will participate in any vote to amend our amended and restated memorandum and articles of association and will have the discretion to vote in any manner they choose.
        Specifically, our amended and restated memorandum and articles of association provide, among other things, that:

      

      

    

    
      	

            	•	
              if we do not consummate an initial business combination within 24 months from the closing of our Initial Public Offering, we will (i) cease all
                operations except for the purpose of winding up; (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on
                deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our income taxes, if any (less up to $100,000 of interest to pay dissolution expenses), divided by the
                number of the then-outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as
                reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii) to our obligations under Cayman Islands
                law to provide for claims of creditors and the requirements of other applicable law;

            

    

    
      

      

    

    
      	

            	•	
              prior to the completion of our initial business combination, we may not issue additional securities that would entitle the holders thereof to (i)
                receive funds from the trust account or (ii) vote as a class with our public shares (a) on our initial business combination or on any other proposal presented to shareholders prior to or in connection with the completion of an initial
                business combination or (b) to approve an amendment to our amended and restated memorandum and articles of association to (x) extend the time we have to consummate a business combination beyond 24 months from the closing of our Initial
                Public Offering or (y) amend the foregoing provisions;

            

    

    
      

      

    

    
      	

            	•	
              although we do not intend to enter into a business combination with a target business that is affiliated with our sponsor, our directors or our
                executive officers, we are not prohibited from doing so. In the event we enter into such a transaction, we, or a committee of independent directors, will obtain an opinion from an independent investment banking firm which is a member of
                FINRA or an independent valuation or accounting firm that such a business combination or transaction is fair to our company from a financial point of view;

            

    

    
      

      

    

    
      	

            	•	
              if a shareholder vote on our initial business combination is not required by applicable law or stock exchange rule and we do not decide to hold a
                shareholder vote for business or other reasons, we will offer to redeem our public shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, and will file tender offer documents with the SEC prior to completing our initial
                business combination which contain substantially the same financial and other information about our initial business combination and the redemption rights as is required under Regulation 14A of the Exchange Act;

            

    

    
      

      

      
        
          

      

    

    
      	

            	•	
              our initial business combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of
                the net assets held in the trust account (excluding the amount of deferred underwriting discounts held in trust and taxes payable on the interest earned on the trust account) at the time of signing the agreement to enter into the initial
                business combination;

            

    

    
      

      

    

    
      	

            	•	
              our initial business combination must be approved by a majority of our independent directors;

            

    

    
      

      

    

    
      	

            	•	
              if our shareholders approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or
                timing of our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial
                business combination within 24 months from the closing of our Initial Public Offering or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares, we will provide our public shareholders with
                the opportunity to redeem all or a portion of their ordinary shares upon such approval at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in
                the trust account and not previously released to us to pay our income taxes, if any, divided by the number of the then-outstanding public shares, subject to the limitations described herein; and

            

    

    
      

      

    

    
      	

            	•	
              we will not effectuate our initial business combination solely with another blank check company or a similar company with nominal operations.

            

    

    
      

      

      In addition, our amended and restated memorandum and articles of association provide that under no circumstances will we redeem our
        public shares in an amount that would cause our net tangible assets to be less than $5,000,001.

    

    
      

      

    

    
      The Companies Act permits a company incorporated in the Cayman Islands to amend its memorandum and articles of association with the
        approval of a special resolution. A company’s articles of association may specify that the approval of a higher majority is required but, provided the
        approval of the required majority is obtained, any Cayman Islands exempted company may amend its memorandum and articles of association regardless of whether its memorandum and articles of association provides otherwise. Accordingly, although we
        could amend any of the provisions relating to our proposed offering, structure and business plan which are contained in our amended and restated memorandum and articles of association, we view all of these provisions as binding obligations to our
        shareholders and neither we, nor our officers or directors, will take any action to amend or waive any of these provisions unless we provide dissenting public shareholders with the opportunity to redeem their public shares.

    

    
      

      

    

    
      Anti-Money Laundering — Cayman Islands

    

    
      

      

    

    
      In order to comply with legislation or regulations aimed at the prevention of money laundering, we are required to adopt and maintain
        anti-money laundering procedures, and may require subscribers to provide evidence to verify their identity and source of funds. Where permitted, and subject to certain conditions, we may also delegate the maintenance of our anti-money laundering
        procedures (including the acquisition of due diligence information) to a suitable person.

    

    
      

      

      
        
          

      

    

    
      We reserve the right to request such information as is necessary to verify the identity of a subscriber. In some cases the directors may
        be satisfied that no further information is required since an exemption applies under the Anti-Money Laundering Regulations (2020 Revision) of the Cayman Islands, as amended and revised from time to time (the “Regulations”). Depending on the
        circumstances of each application, a detailed verification of identity might not be required where:

    

    
      

      

    

    
      	

            	a)	
              the subscriber makes the payment for their investment from an account held in the subscriber’s name at a recognized financial institution;

            

    

    
      

      

    

    
      	

            	b)	
              the subscriber is regulated by a recognized regulatory authority and is based or incorporated in, or formed under the law of, a recognized
                jurisdiction; or

            

    

    
      

      

    

    
      	

            	c)	
              the application is made through an intermediary which is regulated by a recognized regulatory authority and is based in or incorporated in, or formed
                under the law of a recognized jurisdiction and an assurance is provided in relation to the procedures undertaken on the underlying investors.

            

    

    
      

      

    

    
      For the purposes of these exceptions, recognition of a financial institution, regulatory authority or jurisdiction will be determined in
        accordance with the Regulations by reference to those jurisdictions recognized by the Cayman Islands Monetary Authority as having equivalent anti-money laundering regulations.

    

    
      

      

    

    
      In the event of delay or failure on the part of the subscriber in producing any information required for verification purposes, we may
        refuse to accept the application, in which case any funds received will be returned without interest to the account from which they were originally debited.

    

    
      

      

    

    
      We also reserve the right to refuse to make any distribution payment to a shareholder if our directors or officers suspect or are advised
        that the payment of such distribution to such shareholder might result in a breach of applicable anti-money laundering or other laws or regulations by any person in any relevant jurisdiction, or if such refusal is considered necessary or
        appropriate to ensure our compliance with any such laws or regulations in any applicable jurisdiction.

    

    
      

      

    

    
      If any person resident in the Cayman Islands knows or suspects, or has reasonable grounds for knowing or suspecting, that another person
        is engaged in criminal conduct or is involved with terrorism or terrorist property and the information for that knowledge or suspicion came to their attention in the course of business in the regulated sector or other trade, profession, business or
        employment, the person will be required to report such knowledge or suspicion to (i) the Financial Reporting Authority of the Cayman Islands, pursuant to the Proceeds of Crime Law (2020 Revision) of the Cayman Islands if the disclosure relates to
        criminal conduct or money laundering or (ii) a police officer of the rank of constable or higher, or the Financial Reporting Authority, pursuant to the Terrorism Law (2018 Revision) of the Cayman Islands, if the disclosure relates to involvement
        with terrorism or terrorist financing and property. Such a report will not be treated as a breach of confidence or of any restriction upon the disclosure of information imposed by any enactment or otherwise.

    

    
      

      

    

    
      Certain Anti-Takeover Provisions of our Amended and Restated Memorandum and Articles of Association

    

    
      

      

    

    
      Our amended and restated memorandum and articles of association provide that our board of directors is classified into three classes of
        directors. As a result, in most circumstances, a person can gain control of our board only by successfully engaging in a proxy contest at two or more annual meetings.

    

    
      

      

    

    
      Our authorized but unissued Class A ordinary shares and preference shares are available for future issuances without shareholder approval
        and could be utilized for a variety of corporate purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved Class A ordinary shares and
        preference shares could render more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

       

      

      
        
          

      

      Securities Eligible for Future Sale

    

    
      

      

    

    
      Immediately after our Initial Public Offering we had 15,449,000 Class A ordinary shares issued and outstanding on an as-converted basis.
        Of these shares, the Class A ordinary shares sold in our Initial Public Offering (14,950,000 Class A ordinary shares) are freely tradable without restriction or further registration under the Securities Act, except for any Class A ordinary shares
        purchased by one of our affiliates within the meaning of Rule 144 under the Securities Act. All of the outstanding founder shares (3,737,500 founder shares) and all of the outstanding private placement shares (499,000 private placement shares), and
        the securities underlying the foregoing, are restricted securities under Rule 144, in that they were issued in private transactions not involving a public offering.

    

    
      

      

    

    
      Rule 144

    

    
      

      

    

    
      Pursuant to Rule 144, a person who has beneficially owned restricted shares for at least six months would be entitled to sell their
        securities provided that (i) such person is not deemed to have been one of our affiliates at the time of, or at any time during the three months
        preceding, a sale and (ii) we are subject to the Exchange Act periodic reporting requirements for at least three months before the sale and have filed all required reports under Section 13 or 15(d) of the Exchange Act during the 12 months (or such
        shorter period as we were required to file reports) preceding the sale.

    

    
      

      

    

    
      Persons who have beneficially owned restricted shares for at least six months but who are our affiliates at the time of, or at any time
        during the three months preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell within any three-month period only a number of securities that does not exceed the greater of:

      

      

    

    
      	

            	•	
              1% of the total number of ordinary shares then outstanding, which equals 191,865 shares immediately after our Initial Public Offering; and

            

    

    
      

      

    

    
      	

            	•	
              the average weekly reported trading volume of the Class A ordinary shares during the four calendar weeks preceding the filing of a notice on Form 144
                with respect to the sale.

            

    

    
      

      

      Sales by our affiliates under Rule 144 are also limited by manner of sale provisions and notice requirements and to the availability of
        current public information about us.

    

    
      

      

    

    
      Restrictions on the Use of Rule 144 by Shell Companies or Former Shell Companies

      

      

      Rule 144 is not available for the resale of securities initially issued by shell companies (other than business combination related shell
        companies) or issuers that have been at any time previously a shell company. However, Rule 144 also includes an important exception to this prohibition if the following conditions are met:

      

      

    

    
      	

            	•	
              the issuer of the securities that was formerly a shell company has ceased to be a shell company;

            

       

      

      	

            	•	
              the issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act;

            

       

      

      	

            	•	
              the issuer of the securities has filed all Exchange Act reports and material required to be filed, as applicable, during the preceding 12 months (or
                such shorter period that the issuer was required to file such reports and materials), other than Form 8-K reports; and

            

       

      

      	

            	•	
              at least one year has elapsed from the time that the issuer filed current Form 10 type information with the SEC reflecting its status as an entity
                that is not a shell company.

            

    

    
      

      

       As a result, our initial shareholders will be able to sell their founder shares and our sponsor will be able to sell its private
        placement shares, pursuant to Rule 144 without registration one year after we have completed our initial business combination.

    

    
      

      

      
        
          

      

    

    
      Registration and Shareholder Rights

    

    
      

      

    

    
      The holders of the founder shares and private placement shares, including the private placement shares that may be issued upon conversion
        of working capital loans and any Class A ordinary shares issuable upon conversion of founder shares are entitled to registration rights pursuant to the registration and shareholder rights agreement that the holders signed at the closing of our
        Initial Public Offering. The holders of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders have certain “piggy-back” registration rights with respect
        to registration statements filed subsequent to our completion of our initial business combination. However, the registration and shareholder rights agreement provides that we will not permit any registration statement filed under the Securities Act
        to become effective until termination of the applicable lock-up period, which occurs (i) in the case of the founder shares, as described in the following paragraph, and (ii) in the case of the private placement shares, 30 days after the completion
        of our initial business combination. We will bear the expenses incurred in connection with the filing of any such registration statements.

    

    
      

      

    

    
      Except as described herein, our sponsor and our management team have agreed not to transfer, assign or sell (i) any of their founder
        shares until the earliest of (A) one year after the completion of our initial business combination and (B) subsequent to our initial business combination, (x) if the closing price of our Class A ordinary shares equals or exceeds $12.00 per share
        (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination, or (y) the date on
        which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property, and (ii)
        any of their private placement shares until 30 days after the completion of our initial business combination. Any permitted transferees will be subject to the same restrictions and other agreements of our sponsor and management team with respect to
        any founder shares and private placement shares. We refer to such transfer restrictions throughout this exhibit as the lock-up.

    

    
      

      

    

    
      In addition, pursuant to the registration and shareholder rights agreement, our sponsor, upon and following consummation of an initial
        business combination, will be entitled to nominate three individuals for election to our board of directors, as long as the sponsor holds any securities covered by the registration and shareholder rights agreement.

    

    
      

      

    

    
      Listing of Securities

    

    
      

      

    

    
      Our Class A ordinary shares are listed on Nasdaq under the symbol “ARYD.”tptx-ex101_6.htm

 

Exhibit 10.1

 

FIRST AMENDMENT TO LEASE AGREEMENT

 

This First Amendment to Lease Agreement (this “First Amendment”) is made as of May 12, 2021 (“Effective Date”), by and between ARE-SD REGION NO. 44, LLC, a Delaware limited liability company (“Landlord”), and TURNING POINT THERAPEUTICS, INC., a Delaware corporation, as successor-in-interest to REGULUS THERAPEUTICS INC. (“Tenant”).

 

RECITALS

 

A.Landlord and Tenant are parties to that certain Lease Agreement dated as of June 19, 2019 (“Original Lease”), and that Consent to Assignment (“Assignment”) dated February 11, 2021 (together with the Assignment and Assumption of Lease dated as of February 11, 2021, between Regulus Therapeutics Inc., a Delaware corporation, as assignor, and Tenant, as assignee, collectively, the “Lease”), wherein Landlord leases to Tenant certain premises containing 8,727 rentable square feet of space, commonly known as Suite 225 (“Premises”) located at 10628 Science Center Drive, San Diego, California, as more particularly described therein.  

 

B.Landlord and Tenant desire to amend the Lease to, among other things, extend the Term of the Lease with respect to the Premises for a period of 18 months, to expire on June 30, 2023.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:

 

1.         Term.  The Base Term, as defined in the Lease, with respect to the Premises is hereby extended to expire on June 30, 2023 (“Expiration Date”), unless terminated earlier pursuant to the Lease.  Tenant’s continued occupancy of the Premises shall be on as “as-is” basis and Landlord shall have no obligation to provide any tenant improvement allowance or make any alterations to the Premises.  The foregoing, however, shall not relieve Landlord of its maintenance and repair obligations under the Lease. Notwithstanding anything to the contrary contained in the Lease, Tenant shall have no further right to extend the Base Term.   

 

2.         Base Rent.Tenant shall continue to pay Base Rent with respect to the Premises as provided for under the Lease through December 31, 2021.  Commencing on January 1, 2022, Base Rent with respect to the Premises payable by Tenant to Landlord shall be $72.00 per rentable square foot of the Premises per year.   Notwithstanding anything to the contrary contained in the Lease, Base Rent with respect to the Premises shall be increased on January 1, 2023, by multiplying the Base Rent with respect to the Premises payable immediately before such date by 3.0% and adding the resulting amount to the Base Rent with respect to the Premises payable immediately before such date.

 

3.Hold Over. If Tenant remains in possession of the Premises after the expiration or earlier termination of the Term as amended by this First Amendment without the express written consent of Landlord, (A) Tenant shall become a tenant at sufferance upon the terms of the Lease except that the monthly rental shall be equal to 200% of Base Rent in effect during the last 30 days of the Term, and (B) Tenant shall be responsible for all damages suffered by Landlord resulting from or occasioned by Tenant’s holding over, including consequential damages.  No holding over by Tenant, whether with or without consent of Landlord, shall operate to extend the Lease except as otherwise expressly provided, and this Section 3 shall not be construed as consent for Tenant to retain possession of the Premises.  Acceptance by Landlord of Base Rent after the expiration of the Term or earlier termination of the Lease shall not result in a renewal or reinstatement of this Lease.

 

4.Security Deposit.As of the Effective Date, the defined term “Security Deposit” on page 1 of the Lease is hereby deleted in its entirety and replaced with the following:

 

“Security Deposit:  $52,362.00”

 

Concurrent with Tenant’s delivery of an executed copy of this First Amendment to Landlord, Tenant shall deliver to Landlord a replacement Letter of Credit in the full amount of the Security Deposit, or amend the existing Letter of Credit in the amount of $34,000 to the full amount of the Security Deposit. 

 

5.OFAC.  Tenant and all beneficial owners of Tenant are currently (a) in compliance with and shall at all times during the Term of the Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute, executive order, or regulation relating thereto (collectively, the “OFAC Rules”), (b) not listed on, and shall not during the term of the Lease be listed on, the Specially Designated Nationals and Blocked Persons List, Foreign Sanctions Evaders List or the Sectoral Sanctions Identifications List, which are all maintained 

 

 

 

by OFAC and/or on any other similar list maintained by OFAC or other governmental authority pursuant to any authorizing statute, executive order, or regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business under the OFAC Rules.

	
 
	
6.
	
Miscellaneous.

(a)This First Amendment, together with the Lease, is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreements and discussions.  This First Amendment may be amended only by an agreement in writing, signed by the parties hereto.

 

(b)This First Amendment is binding upon and shall inure to the benefit of the parties hereto, their respective successors and assigns.

 

(c)This First Amendment may be executed in 2 or more counterparts, each of which shall be deemed an original, but all of which together constitute one and the same instrument.  Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature process complying with the U.S. federal ESIGN Act of 2000) or other transmission method and any counterpart so delivered will be deemed to have been duly and validly delivered and be valid and effective for all purposes. Electronic signatures will be deemed original signatures for purposes of this First Amendment and all matters related thereto, with such electronic signatures having the same legal effect as original signatures.

 

(d)Landlord and Tenant each represent and warrant that it has not dealt with any broker, agent or other person (collectively “Broker”) in connection with this transaction, and that no Broker brought about this transaction, other than Cushman & Wakefield and CBRE, Inc.  Landlord and Tenant each hereby agree to indemnify and hold the other harmless from and against any claims by any Broker, other than Cushman & Wakefield and CBRE, Inc., claiming a commission or other form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction.

 

(e)Except as amended and/or modified by this First Amendment, the Lease is hereby ratified and confirmed and all other terms of the Lease shall remain in full force and effect, unaltered and unchanged by this First Amendment.  In the event of any conflict between the provisions of this First Amendment and the provisions of the Lease, the provisions of this First Amendment shall prevail.  Whether or not specifically amended by this First Amendment, all of the terms and provisions of the Lease are hereby amended to the extent necessary to give effect to the purpose and intent of this First Amendment.

 

(Signatures are on the next page)

 

 

 

IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the day and year first above written.

TENANT:

TURNING POINT THERAPEUTICS, INC., 

a Delaware corporation 

 

By:  /s/ Athena Countouriotis

Name:  Athena Countouriotis

Title: President & Chief Executive Officer

 

LANDLORD:

ARE-SD REGION NO. 44, LLC, 

a Delaware limited liability company

 

	
 
	
By:
	
ALEXANDRIA REAL ESTATE EQUITIES, L.P., 

a Delaware limited partnership, 

managing member

	
 
	
By:
	
ARE-QRS CORP., 

a Maryland corporation, 

general partner

 

By:  /s/ Gary Dean          

Name:  Gary Dean           

Title: Executive Vice President RE Legal Affairs

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