Document:

Exhibit 4.3

 

Description of the Company’s Securities

 

The Company is authorized to issue an unlimited
number of Subordinate Voting Shares, an unlimited number of Multiple Voting Shares and an unlimited number of Super Voting Shares.

 

As of January 13, 2021, the issued
and outstanding capital of the Company consisted of: (i) 53,147,426 Subordinate Voting Shares; (ii) 554,127 Multiple
Voting Shares; and (iii) 65,411 Super Voting Shares (collectively, the “Company Shares”).

 

The total number of equity shares assuming
all are converted into Subordinate Voting Shares would be 98,869,885.

 

Our Articles, which are attached to this
registration statement, provide further information regarding our securities and qualify the summary under this Item 11 of this
registration statement in its entirety.

 

Subordinate Voting Shares

 

Notice and Voting Rights. Holders
of Subordinate Voting Shares are entitled to notice of and to attend at any meeting of the shareholders of the Company, except
a meeting of which only holders of another particular class or series of shares of the Company have the right to vote. At each
such meeting, holders of Subordinate Voting Shares are entitled to one vote in respect of each Subordinate Voting Share held.

 

Class Rights. As long as any
Subordinate Voting Shares remain outstanding, the Company will not, without the consent of the holders of the Subordinate Voting
Shares by separate special resolution, prejudice or interfere with any right attached to the Subordinate Voting Shares. Holders
of Subordinate Voting Shares will not be entitled to a right of first refusal to subscribe for, purchase or receive any part of
any issue of Subordinate Voting Shares, or bonds, debentures or other securities of the Company.

 

Dividend Rights. Holders of Subordinate
Voting Shares are entitled to receive, as and when declared by the directors of the Company, dividends in cash or property of the
Company. No dividend will be declared or paid on the Subordinate Voting Shares unless the Company simultaneously declares or pays,
as applicable, equivalent dividends (on an as-converted to Subordinate Voting Shares basis) on the Multiple Voting Shares and Super
Voting Shares.

 

Liquidation Rights. In the event
of the liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary, or in the event of any other distribution
of assets of the Company among its shareholders for the purpose of winding up its affairs, the holders of Subordinate Voting Shares
will, subject to the prior rights of the holders of any shares of the Company ranking in priority to the Subordinate Voting Shares,
be entitled to participate ratably along with all other holders of Multiple Voting Shares (on an as-converted to Subordinate Voting
Shares basis) and Super Voting Shares (on an as-converted to Subordinate Voting Shares basis).

 

Conversion Rights. In the event
that an offer is made to purchase Multiple Voting Shares and the offer is one which is required, pursuant to applicable securities
legislation or the rules of a stock exchange, if any, on which the Multiple Voting Shares are then listed, to be made to all
or substantially all the holders of Multiple Voting Shares in a given province or territory of Canada to which these requirements
apply, each Subordinate Voting Share shall become convertible at the option of the holder into Multiple Voting Shares at the inverse
of the Conversion Ratio (as defined below) then in effect at any time while the offer is in effect until one day after the time
prescribed by applicable securities legislation for the offeror to take up and pay for such shares as are to be acquired pursuant
to the offer.

 

The conversion right may only be exercised
in respect of Subordinate Voting Shares for the purpose of depositing the resulting Multiple Voting Shares under the offer, and
for no other reason. In such event, the Company’s transfer agent shall deposit under the offer the resulting Multiple Voting
Shares on behalf of the holder. Should the Multiple Voting Shares issued upon conversion and tendered in response to the offer
be withdrawn by shareholders or not taken up by the offeror, or should the offer be abandoned, withdrawn or terminated by the offeror
or the offer otherwise expires without such Multiple Voting Shares being taken up and paid for, the Multiple Voting Shares resulting
from the conversion shall be automatically reconverted, without further intervention on the part of the Company or on the part
of the holder, into Subordinate Voting Shares at the Conversion Ratio then in effect.

 

     

     

    

 

Change in Control. No subdivision
or consolidation of the Subordinate Voting Shares, Multiple Voting Shares or Super Voting Shares shall occur unless, simultaneously,
the Subordinate Voting Shares, Multiple Voting Shares and Super Voting Shares are subdivided or consolidated in the same manner
or such other adjustment is made, so as to maintain and preserve the relative rights of the holders of the shares of each of the
said classes.

 

Redemption Rights. The Company is,
subject to certain conditions, entitled to redeem Subordinate Voting Shares held by certain shareholders in order to permit the
Company to comply with applicable licensing regulations. The purpose of the redemption right is to provide the Company with a means
of protecting itself from having a shareholder (or a group of persons who the Board of Directors reasonably believes are acting
jointly or in concert) (an “Unsuitable Person”) with an ownership interest of, whether of record or beneficially
(or having the power to exercise control or direction over), five percent (5%) or more of the issued and outstanding Company Shares
(calculated on as-converted to Subordinate Voting Shares basis), who a governmental authority granting licenses to the Company
(including to any subsidiary) has determined to be unsuitable to own shares, or whose ownership of Subordinate Voting Shares may
result in the loss, suspension or revocation (or similar action) with respect to any licenses relating to the conduct of the Company’s
business relating to the cultivation, processing and dispensing of cannabis and cannabis-derived products in the United States
or in the Company being unable to obtain any new licenses in the normal course, including, but not limited to, as a result of such
person’s failure to apply for a suitability review from or to otherwise fail to comply with the requirements of a governmental
authority, as determined by the Board of Directors in its sole discretion after consultation with legal counsel and, if a license
application has been filed, after consultation with the applicable governmental authority.

 

The terms of Subordinate Voting Shares
provide the Company with a right, but not the obligation, at its option, to redeem Subordinate Voting Shares held by an Unsuitable
Person at a redemption price per share, unless otherwise required by any governmental authority, equal to the Unsuitable Person
Redemption Price (as defined below). This right is required in order for the Company to comply with regulations in various jurisdictions
where the Company conducts business or is expected to conduct business, which provide that the shareholders of a company requiring
a license who hold over a certain percentage threshold of the issued and outstanding shares of the Company cannot be deemed “unsuitable”
by the applicable governmental authority issuing the license in order for such license to be issued and to remain valid and in
effect.

 

A redemption notice may be delivered by
the Company to any Unsuitable Person setting forth: (i) the redemption date, (ii) the number of Subordinate Voting Shares
to be redeemed, (iii) the formula pursuant to which the redemption price will be determined and the manner of payment therefor,
(iv) the place where such Subordinate Voting Shares (or certificate thereto, as applicable) will be surrendered for payment,
duly endorsed in blank or accompanied by proper instruments of transfer, (v) a copy of the Valuation Opinion (as defined below)
if the Company is no longer listed on the CSE or another recognized securities exchange, and (vi) any other requirement of
surrender of the redeemed shares. The redemption notice will be sent to the Unsuitable Person not less than 30 trading days prior
to the redemption date, except as otherwise provided below. The Company will send a written notice confirming the amount of the
redemption price as soon as possible following the determination of such redemption price. The redemption notice may be conditional
such that the Company need not redeem Subordinate Voting Shares on the redemption date if the Board of Directors determines, in
its sole discretion, that such redemption is no longer advisable or necessary.

 

For purposes of the foregoing, the “Unsuitable
Person Redemption Price” means: (i) in the case of Subordinate Voting Shares, the volume-weighted average trading
price of Subordinate Voting Shares during the five (5) trading day period immediately after the date of the redemption notice
on the CSE or other national or regional securities exchange on which Subordinate Voting Shares are listed; (ii) in the case
of Multiple Voting Shares or Super Voting Shares, the amount determined under (i) multiplied by the Conversion Ratio in effect
at the time the redemption notice is delivered, or (iii) if no such quotations are available, the fair market value per share
of such Subordinate Voting Shares and/or Multiple Voting Shares as set forth in a valuation and fairness opinion (the “Valuation
Opinion”) from an investment banking firm of nationally recognized standing in Canada (qualified to perform such task
and which is disinterested in the contemplated redemption and has not in the then past two years provided services for a fee to
the Company or its affiliates) or a disinterested nationally recognized accounting firm.

 

The redemption date will be not less
than 30 trading days from the date of the redemption notice unless a governmental authority requires that Subordinate Voting
Shares be redeemed as of an earlier date, in which case the redemption date will be such earlier date, and if there is an
outstanding redemption notice, the Company will issue an amended redemption notice reflecting the new redemption date
forthwith.

 

     

     

    

 

From and after the date the redemption
notice is delivered, an Unsuitable Person owning Subordinate Voting Shares called for redemption will cease to have any voting
rights. From and after the redemption date, any and all rights of any nature which may be held by an Unsuitable Person with respect
to such person’s Subordinate Voting Shares will cease and, thereafter, the Unsuitable Person will be entitled only to receive
the redemption price, without interest, on the redemption date; provided, however, that if any such Subordinate Voting Shares come
to be owned solely by persons other than an Unsuitable Person (such as by transfer of such Subordinate Voting Shares to a liquidating
trust, subject to the approval of any applicable governmental authority), such persons may exercise voting rights of such Subordinate
Voting Shares and the Board of Directors may determine, in its sole discretion, not to redeem such Subordinate Voting Shares. The
Company’s redemption right is unilateral, and unless an Unsuitable Person otherwise disposes of his, her or its Subordinate
Voting Shares, such Unsuitable Person cannot prevent the Company from exercising its redemption right.

 

Following redemption, the redeemed Subordinate
Voting Shares will be cancelled.

 

If the Company exercises its right to redeem
Subordinate Voting Shares from an Unsuitable Person, (i) the Company may fund the redemption price, which may be substantial
in amount in certain circumstances, from its existing cash resources, the incurrence of indebtedness, the issuance of additional
securities including debt securities, the issuance of a promissory note issued to the Unsuitable Person, any other means permitted
by applicable law or a combination of the foregoing sources of funding, (ii) the number of Subordinate Voting Shares outstanding
will be reduced by the number of applicable shares redeemed, and (iii) the Company cannot provide any assurance that the redemption
will adequately address the concerns of any governmental authority or enable the Company to make all required governmental filings
or obtain and maintain all licenses, permits or other governmental approvals that are required to conduct its business. The Company
cannot prevent an Unsuitable Person from acquiring or reacquiring the Company Shares and can only address such unsuitability by
exercising its redemption rights pursuant to the redemption provision. To the extent required by applicable laws, the Company may
deduct and withhold any tax from the redemption price. To the extent any amounts are so withheld and are timely remitted to the
applicable governmental authority, such amounts shall be treated for all purposes as having been paid to the person in respect
of which such deduction and withholding was made.

 

A person (or group of persons acting jointly
or in concert) will be prohibited from acquiring or disposing of five percent (5%) or more of the issued and outstanding shares
of the Company (calculated on an as-converted to Subordinate Voting Share basis), directly or indirectly, in one or more transactions,
without providing 15 days’ advance written notice to the Company by mail sent to the Company’s registered office to
the attention of the corporate secretary. The foregoing restriction will not apply to the ownership, acquisition or disposition
of shares as a result of: (i) a transfer of the Company Shares occurring by operation of law including, inter alia, the transfer
of the Company Shares to a trustee in bankruptcy, (ii) an acquisition or proposed acquisition by one or more underwriters
or portfolio managers who hold the Company Shares for the purposes of distribution to the public or for the benefit of a third
party, provided that such third party is in compliance with the foregoing restriction, or (iii) a conversion, exchange or
exercise of securities of the Company, duly issued or granted by the Company, into or for Subordinate Voting Shares in accordance
with their respective terms. If the Board reasonably believes that any such holder of the Company Shares may have failed to comply
with the foregoing restrictions, the Company may apply to the Supreme Court of British Columbia, or such other court of competent
jurisdiction, for an order directing that such shareholder disclose the number of the Company Shares held.

  

Notwithstanding the adoption of the redemption
provisions, the Company may not be able to exercise its redemption rights in full or at all. Under the BCBCA, the Company may not
make any payment to redeem shares if there are reasonable grounds for believing that the Company is unable to pay its liabilities
as they become due in the ordinary course of its business or if making the payment of the redemption price or providing the consideration
would cause the Company to be unable to pay its liabilities as they become due in the ordinary course of its business. In the event
that such restrictions prohibit the Company from exercising its redemption rights in part or in full, the Company will not be able
to exercise its redemption rights absent a waiver of such restrictions, which the Company may not be able to obtain on acceptable
terms or at all.

 

     

     

    

 

Super Voting Shares

 

Notice and Voting Rights. Holders
of Super Voting Shares are entitled to notice of and to attend any meeting of the shareholders of the Company, except a meeting
of which only holders of another particular class or series of shares of the Company have the right to vote. At each such meeting,
holders of Super Voting Shares are entitled to 10 votes in respect of each Subordinate Voting Share into which such Super Voting
Share could ultimately then be converted (currently 1,000 votes per Super Voting Share held).

 

Class Rights. As long as any
Super Voting Shares remain outstanding, the Company will not, without the consent of the holders of the Super Voting Shares by
separate special resolution, prejudice or interfere with any right or special right attached to the Super Voting Shares. Additionally,
consent of the holders of a majority of the outstanding Super Voting Shares will be required for any action that authorizes or
creates shares of any class having preferences superior to or on a parity with the Super Voting Shares. In connection with the
exercise of the voting rights in respect of any such approvals, each holder of Super Voting Shares will have one vote in respect
of each Super Voting Share held. The holders of Super Voting Shares will not be entitled to a right of first refusal to subscribe
for, purchase or receive any part of any issue of Subordinate Voting Shares, bonds, debentures or other securities of the Company.

 

Dividend Rights. The holders of
the Super Voting Shares are entitled to receive such dividends as may be declared and paid to holders of the Subordinate Voting
Shares on an as-converted to Subordinate Voting Share basis. No dividend will be declared or paid on the Super Voting Shares unless
the Company simultaneously declares or pays, as applicable, equivalent dividends (on an as-converted to Subordinate Voting Share
basis) on the Subordinate Voting Shares and Multiple Voting Shares.

 

Liquidation Rights. In the event
of the liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary, or in the event of any other distribution
of assets of the Company among its shareholders for the purpose of winding up its affairs, the holders of Super Voting Shares will,
subject to the prior rights of the holders of any shares of the Company ranking in priority to the Super Voting Shares, be entitled
to participate ratably along with all other holders of Super Voting Shares (on an as-converted to Subordinate Voting Share basis),
Subordinate Voting Shares and Multiple Voting Shares (on an as-converted to Subordinate Voting Share basis).

 

Conversion Rights. Each Super Voting
Share has a right to convert into 1 Multiple Voting Share subject to customary adjustments for certain corporate changes.

 

Automatic Conversion. Each Super
Voting Share will automatically be converted without further action by the holder thereof into one Multiple Voting Share upon transfer
by the holder thereof to anyone other than (i) Dr. Kyle E. Kingsley (for purposes hereof, “Initial Holders”), an
immediate family member of an Initial Holder or a transfer for purposes of estate or tax planning to a company or person that is
wholly beneficially owned by an Initial Holder or immediate family members of an Initial Holder or which an Initial Holder or immediate
family members of an Initial Holder are the sole beneficiaries thereof; or (ii) a party approved by the Company.

 

Each Super Voting Share held by a particular
Initial Holder will automatically be converted without further action by the holder thereof into Multiple Voting Shares at the
conversion ratio of one Multiple Voting Share for each Super Voting Share, subject to customary adjustments for certain corporate
changes, if at any time the aggregate number of issued and outstanding Super Voting Shares beneficially owned, directly or indirectly,
by that Initial Holder and that Initial Holder’s predecessor or transferor, permitted transferees and permitted successors,
divided by the number of Super Voting Shares beneficially owned, directly or indirectly, by that Initial Holder as of the date
of completion of the previously completed business combination is less than 50%. The holders of Super Voting Shares will, from
time to time upon the request of the Company, provide to the Company evidence as to such holders’ direct and indirect beneficial
ownership (and that of its permitted transferees and permitted successors) of Super Voting Shares to enable the Company to determine
if its right to convert has occurred. For purposes of these calculations, a holder of Super Voting Shares will be deemed to beneficially
own Super Voting Shares held by an intermediate company or fund in proportion to their equity ownership of such company or fund,
unless such company or fund holds such shares for the benefit of such holder, in which case they will be deemed to own 100% of
such shares held for their benefit.

 

Change in Control. No
subdivision or consolidation of the Subordinate Voting Shares, Multiple Voting Shares or Super Voting Shares shall occur
unless, simultaneously, the Subordinate Voting Shares, Multiple Voting Shares and Super Voting Shares are subdivided or
consolidated in the same manner or such other adjustment is made, so as to maintain and preserve the relative rights of the
holders of the shares of each of the said classes.

 

     

     

    

 

Redemption Rights. The Company is,
subject to certain conditions, entitled to redeem Super Voting Shares held by certain shareholders in order to permit the Company
to comply with applicable licensing regulations. The purpose of the redemption right is to provide the Company with a means of
protecting itself from having an “Unsuitable Person” with an ownership interest of, whether of record or beneficially
(or having the power to exercise control or direction over), five percent (5%) or more of the issued and outstanding Company Shares
(calculated on as-converted to Subordinate Voting Shares basis), who a governmental authority granting licenses to the Company
(including to any subsidiary) has determined to be unsuitable to own shares, or whose ownership of Super Voting Shares may result
in the loss, suspension or revocation (or similar action) with respect to any licenses relating to the conduct of the Company’s
business relating to the cultivation, processing and dispensing of cannabis and cannabis-derived products in the United States
or in the Company being unable to obtain any new licenses in the normal course, including, but not limited to, as a result of such
person’s failure to apply for a suitability review from or to otherwise fail to comply with the requirements of a governmental
authority, as determined by the Board of Directors in its sole discretion after consultation with legal counsel and, if a license
application has been filed, after consultation with the applicable governmental authority.

 

The terms of Super Voting Shares provide
the Company with a right, but not the obligation, at its option, to redeem Super Voting Shares held by an Unsuitable Person at
a redemption price per share, unless otherwise required by any governmental authority, equal to the Unsuitable Person Redemption
Price. This right is required in order for the Company to comply with regulations in various jurisdictions where the Company conducts
business or is expected to conduct business, which provide that the shareholders of a company requiring a license who hold over
a certain percentage threshold of the issued and outstanding shares of the Company cannot be deemed “unsuitable” by
the applicable governmental authority issuing the license in order for such license to be issued and to remain valid and in effect.

 

A redemption notice may be delivered by
the Company to any Unsuitable Person setting forth: (i) the redemption date, (ii) the number of Super Voting Shares to
be redeemed, (iii) the formula pursuant to which the redemption price will be determined and the manner of payment therefor,
(iv) the place where such Super Voting Shares (or certificate thereto, as applicable) will be surrendered for payment, duly
endorsed in blank or accompanied by proper instruments of transfer, (v) a copy of the Valuation Opinion if the Company is
no longer listed on the CSE or another recognized securities exchange, and (vi) any other requirement of surrender of the
redeemed shares. The redemption notice will be sent to the Unsuitable Person not less than 30 trading days prior to the redemption
date, except as otherwise provided below. The Company will send a written notice confirming the amount of the redemption price
as soon as possible following the determination of such redemption price. The redemption notice may be conditional such that the
Company need not redeem Super Voting Shares on the redemption date if the Board of Directors determines, in its sole discretion,
that such redemption is no longer advisable or necessary.

 

The redemption date will be not less than
30 trading days from the date of the redemption notice unless a governmental authority requires that Super Voting Shares be redeemed
as of an earlier date, in which case the redemption date will be such earlier date, and if there is an outstanding redemption notice,
the Company will issue an amended redemption notice reflecting the new redemption date forthwith.

 

From and after the date the redemption
notice is delivered, an Unsuitable Person owning Super Voting Shares called for redemption will cease to have any voting rights.
From and after the redemption date, any and all rights of any nature which may be held by an Unsuitable Person, any other means
permitted by applicable law with respect to such person’s Super Voting Shares will cease and, thereafter, the Unsuitable
Person will be entitled only to receive the redemption price, without interest, on the redemption date; provided, however, that
if any such Super Voting Shares come to be owned solely by persons other than an Unsuitable Person (such as by transfer of such
Super Voting Shares to a liquidating trust, subject to the approval of any applicable governmental authority), such persons may
exercise voting rights of such Super Voting Shares and the Board of Directors may determine, in its sole discretion, not to redeem
such Super Voting Shares. The Company’s redemption right is unilateral, and unless an Unsuitable Person otherwise disposes
of his, her or its Super Voting Shares, such the Unsuitable Person cannot prevent the Company from exercising its redemption right.

 

     

     

    

 

Following redemption, the redeemed Super Voting Shares will
be cancelled.

 

If the Company exercises its right to redeem
Super Voting Shares from an Unsuitable Person, (i) the Company may fund the redemption price, which may be substantial in
amount in certain circumstances, from its existing cash resources, the incurrence of indebtedness, the issuance of additional securities
including debt securities, the issuance of a promissory note issued to the Unsuitable Person or a combination of the foregoing
sources of funding, (ii) the number of Super Voting Shares outstanding will be reduced by the number of applicable shares
redeemed, and (iii) the Company cannot provide any assurance that the redemption will adequately address the concerns of any
governmental authority or enable the Company to make all required governmental filings or obtain and maintain all licenses, permits
or other governmental approvals that are required to conduct its business. The Company cannot prevent an Unsuitable Person from
acquiring or reacquiring the Company Shares and can only address such unsuitability by exercising its redemption rights pursuant
to the redemption provision. To the extent required by applicable laws, the Company may deduct and withhold any tax from the redemption
price. To the extent any amounts are so withheld and are timely remitted to the applicable governmental authority, such amounts
shall be treated for all purposes as having been paid to the person in respect of which such deduction and withholding was made.

 

A person (or group of persons acting jointly
or in concert) will be prohibited from acquiring or disposing of five percent (5%) or more of the issued and outstanding shares
of the Company (calculated on an as-converted to Subordinate Voting Share basis), directly or indirectly, in one or more transactions,
without providing 15 days’ advance written notice to the Company by mail sent to the Company’s registered office to
the attention of the corporate secretary. The foregoing restriction will not apply to the ownership, acquisition or disposition
of shares as a result of: (i) a transfer of the Company Shares occurring by operation of law including, inter alia, the transfer
of the Company Shares to a trustee in bankruptcy, (ii) an acquisition or proposed acquisition by one or more underwriters
or portfolio managers who hold the Company Shares for the purposes of distribution to the public or for the benefit of a third
party, provided that such third party is in compliance with the foregoing restriction, or (iii) a conversion, exchange or
exercise of securities of the Company, duly issued or granted by the Company, into or for Subordinate Voting Shares in accordance
with their respective terms. If the Board reasonably believes that any such holder of the Company Shares may have failed to comply
with the foregoing restrictions, the Company may apply to the Supreme Court of British Columbia, or such other court of competent
jurisdiction, for an order directing that such shareholder disclose the number of the Company Shares held.

 

Notwithstanding the adoption of the redemption
provisions, the Company may not be able to exercise its redemption rights in full or at all. Under the BCBCA, the Company may not
make any payment to redeem shares if there are reasonable grounds for believing that the Company is unable to pay its liabilities
as they become due in the ordinary course of its business or if making the payment of the redemption price or providing the consideration
would cause the Company to be unable to pay its liabilities as they become due in the ordinary course of its business. In the event
that such restrictions prohibit the Company from exercising its redemption rights in part or in full, the Company will not be able
to exercise its redemption rights absent a waiver of such restrictions, which the Company may not be able to obtain on acceptable
terms or at all.

 

Multiple Voting Shares

 

Notice and Voting Rights. Holders
of Multiple Voting Shares are entitled to notice of and to attend any meeting of the shareholders of the Company, except a meeting
of which only holders of another particular class or series of shares of the Company have the right to vote. At each such meeting,
holders of Multiple Voting Shares are entitled to one vote in respect of each Subordinate Voting Share into which such Multiple
Voting Share could then be converted (currently 100 votes per Multiple Voting Share held).

 

Class Rights. As long as
any Multiple Voting Shares remain outstanding, the Company will not, without the consent of the holders of the Multiple
Voting Shares and Super Voting Shares by separate special resolution, prejudice or interfere with any right attached to the
Multiple Voting Shares. Consent of the holders of a majority of the outstanding Multiple Voting Shares and Super Voting
Shares will be required for any action that authorizes or creates shares of any class having preferences superior to or on a
parity with the Multiple Voting Shares. In connection with the exercise of the voting rights discussed in this paragraph,
each holder of Multiple Voting Shares will have one vote in respect of each Multiple Voting Share held. Holders of Multiple
Voting Shares will not be entitled to a right of first refusal to subscribe for, purchase or receive any part of any issue of
Subordinate Voting Shares, or bonds, debentures or other securities of the Company.

 

     

     

    

 

Dividend Rights. The holders of
the Multiple Voting Shares are entitled to receive such dividends as may be declared and paid to holders of the Subordinate Voting
Shares on an as-converted to Subordinate Voting Share basis. No dividend will be declared or paid on the Multiple Voting Shares
unless the Company simultaneously declares or pays, as applicable, equivalent dividends (on an as-converted to Subordinate Voting
Share basis) on the Subordinate Voting Shares and Super Voting Shares.

 

Liquidation Rights. In the event
of the liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary, or in the event of any other distribution
of assets of the Company among its shareholders for the purpose of winding up its affairs, the holders of Multiple Voting Shares
will, subject to the prior rights of the holders of any shares of the Company ranking in priority to the Multiple Voting Shares,
be entitled to participate ratably along with all other holders of Multiple Voting Shares (on an as-converted to Subordinate Voting
Share basis), Subordinate Voting Shares and Super Voting Shares (on an as-converted to Subordinate Voting Share basis).

 

Conversion Rights. The Multiple Voting
Shares each have a restricted right to convert into 100 Subordinate Voting Shares (the “Conversion Ratio”),
subject to customary adjustments for certain corporate changes. As of the date of this filing, the ability to convert the Multiple
Voting Shares is subject to a restriction that the aggregate number of Subordinate Voting Shares, Multiple Voting Shares and Super
Voting Shares held of record, directly or indirectly, by residents of the United States (as determined in accordance with Rules 3b-4
and 12g3-2(a) under the Securities Exchange Act of 1934, as amended) may not exceed 40% of the aggregate number of Subordinate
Voting Shares, Multiple Voting Shares and Super Voting Shares issued and outstanding after giving effect to such conversions. Additionally,
conversions subject to a restriction that a holder of Multiple Voting Shares may not convert their shares if after giving effect
to such conversion, the holder, together with the holder’s affiliates, would beneficially own in excess of 9.99% of the number
of Subordinate Voting Shares outstanding immediately after giving effect to the issuance of Subordinate Voting Shares issuable
upon conversion of the Multiple Voting Shares subject to the conversion. Upon notice to the Company, a holder of Multiple Voting
Shares may increase or decrease the foregoing limitation, provided the holder would not own in excess of 19.99% of the number of
Subordinate Voting Shares outstanding immediately after giving effect to the issuance of Subordinate Voting Shares upon conversion
of Multiple Voting Shares subject to the conversion. Any increase in the limitation is not effective until the 61st day
after the notice is delivered to the Company. At the Company’s Annual Meeting of Shareholders held on July 15, 2020,
the Company’s shareholders approved the removal of the foregoing conversion restrictions from the Company’s Articles
of Incorporation to be effective as of January 1, 2021.

 

In the event that an offer is made to purchase
Subordinate Voting Shares and the offer is one which is required, pursuant to applicable securities legislation or the rules of
a stock exchange, if any, on which the Subordinate Voting Shares are then listed, to be made to all or substantially all the holders
of Subordinate Voting Shares in a given province or territory of Canada to which these requirements apply, each Multiple Voting
Share shall become convertible at the option of the holder into Subordinate Voting Shares at the Conversion Ratio at any time while
the offer is in effect until one day after the time prescribed by applicable securities legislation for the offeror to take up
and pay for such shares as are to be acquired pursuant to the offer.

 

The conversion right may be exercised in
respect of Multiple Voting Shares for the purpose of depositing the resulting Subordinate Voting Shares under the offer, and for
no other reason. In such event, the Company’s transfer agent shall deposit under the offer the resulting Subordinate Voting
Shares on behalf of the holder. Should the Subordinate Voting Shares issued upon conversion and tendered in response to the offer
be withdrawn by shareholders or not taken up by the offeror, or should the offer be abandoned, withdrawn or terminated by the offeror
or the offer otherwise expires without such Subordinate Voting Shares being taken up and paid for, the Subordinate Voting Shares
resulting from the conversion shall be automatically reconverted, without further intervention on the part of the Company or on
the part of the holder, into Multiple Voting Shares at the inverse of the Conversion Ratio then in effect.

 

Change in Control. No subdivision
or consolidation of the Subordinate Voting Shares, Multiple Voting Shares or Super Voting Shares shall occur unless, simultaneously,
the Subordinate Voting Shares, Multiple Voting Shares and Super Voting Shares are subdivided or consolidated in the same manner
or such other adjustment is made, so as to maintain and preserve the relative rights of the holders of the shares of each of the
said classes.

 

     

     

    

 

Redemption Rights. The Company is,
subject to certain conditions, entitled to redeem Multiple Voting Shares held by certain shareholders in order to permit the Company
to comply with applicable licensing regulations. The purpose of the redemption right is to provide the Company with a means of
protecting itself from having an “Unsuitable Person” with an ownership interest of, whether of record or beneficially
(or having the power to exercise control or direction over), five percent (5%) or more of the issued and outstanding Company Shares
(calculated on as-converted to Subordinate Voting Shares basis), who a governmental authority granting licenses to the Company
(including to any subsidiary) has determined to be unsuitable to own shares, or whose ownership of Multiple Voting Shares may result
in the loss, suspension or revocation (or similar action) with respect to any licenses relating to the conduct of the Company’s
business relating to the cultivation, processing and dispensing of cannabis and cannabis-derived products in the United States
or in the Company being unable to obtain any new licenses in the normal course, including, but not limited to, as a result of such
person’s failure to apply for a suitability review from or to otherwise fail to comply with the requirements of a governmental
authority, as determined by the Board of Directors in its sole discretion after consultation with legal counsel and, if a license
application has been filed, after consultation with the applicable governmental authority.

 

The terms of Multiple Voting Shares provide
the Company with a right, but not the obligation, at its option, to redeem Multiple Voting Shares held by an Unsuitable Person
at a redemption price per share, unless otherwise required by any governmental authority, equal to the Unsuitable Person Redemption
Price. This right is required in order for the Company to comply with regulations in various jurisdictions where the Company conducts
business or is expected to conduct business, which provide that the shareholders of a company requiring a license who hold over
a certain percentage threshold of the issued and outstanding shares of the Company cannot be deemed “unsuitable” by
the applicable governmental authority issuing the license in order for such license to be issued and to remain valid and in effect.

 

A redemption notice may be delivered by
the Company to any Unsuitable Person setting forth: (i) the redemption date, (ii) the number of Multiple Voting Shares
to be redeemed, (iii) the formula pursuant to which the redemption price will be determined and the manner of payment therefor,
(iv) the place where such Multiple Voting Shares (or certificate thereto, as applicable) will be surrendered for payment,
duly endorsed in blank or accompanied by proper instruments of transfer, (v) a copy of the Valuation Opinion if the Company
is no longer listed on the CSE or another recognized securities exchange, and (vi) any other requirement of surrender of the
redeemed shares. The redemption notice will be sent to the Unsuitable Person not less than 30 trading days prior to the redemption
date, except as otherwise provided below. The Company will send a written notice confirming the amount of the redemption price
as soon as possible following the determination of such redemption price. The redemption notice may be conditional such that the
Company need not redeem Multiple Voting Shares on the redemption date if the Board of Directors determines, in its sole discretion,
that such redemption is no longer advisable or necessary.

 

The redemption date will be not less than
30 trading days from the date of the redemption notice unless a governmental authority requires that Multiple Voting Shares be
redeemed as of an earlier date, in which case the redemption date will be such earlier date, and if there is an outstanding redemption
notice, the Company will issue an amended redemption notice reflecting the new redemption date forthwith.

 

From and after the date the redemption
notice is delivered, an Unsuitable Person owning Multiple Voting Shares called for redemption will cease to have any voting rights.
From and after the redemption date, any and all rights of any nature which may be held by an Unsuitable Person with respect to
such person’s Multiple Voting Shares will cease and, thereafter, the Unsuitable Person will be entitled only to receive the
redemption price, without interest, on the redemption date; provided, however, that if any such Multiple Voting Shares come to
be owned solely by persons other than an Unsuitable Person (such as by transfer of such Multiple Voting Shares to a liquidating
trust, subject to the approval of any applicable governmental authority), such persons may exercise voting rights of such Multiple
Voting Shares and the Board of Directors may determine, in its sole discretion, not to redeem such Multiple Voting Shares. The
Company’s redemption right is unilateral, and unless an Unsuitable Person otherwise disposes of his, her or its Multiple
Voting Shares, such Unsuitable Person cannot prevent the Company from exercising its redemption right.

 

     

     

    

 

Following redemption, the redeemed Multiple
Voting Shares will be cancelled.

 

If the Company exercises its right to redeem
Multiple Voting Shares from an Unsuitable Person, (i) the Company may fund the redemption price, which may be substantial
in amount in certain circumstances, from its existing cash resources, the incurrence of indebtedness, the issuance of additional
securities including debt securities, the issuance of a promissory note issued to the Unsuitable Person, any other means permitted
by applicable law or a combination of the foregoing sources of funding, (ii) the number of Multiple Voting Shares outstanding
will be reduced by the number of applicable shares redeemed, and (iii) the Company cannot provide any assurance that the redemption
will adequately address the concerns of any governmental authority or enable the Company to make all required governmental filings
or obtain and maintain all licenses, permits or other governmental approvals that are required to conduct its business. The Company
cannot prevent an Unsuitable Person from acquiring or reacquiring the Company Shares and can only address such unsuitability by
exercising its redemption rights pursuant to the redemption provision. To the extent required by applicable laws, the Company may
deduct and withhold any tax from the redemption price. To the extent any amounts are so withheld and are timely remitted to the
applicable governmental authority, such amounts shall be treated for all purposes as having been paid to the person in respect
of which such deduction and withholding was made.

 

A person (or group of persons acting jointly
or in concert) will be prohibited from acquiring or disposing of five percent (5%) or more of the issued and outstanding shares
of the Company (calculated on an as-converted to Subordinate Voting Share basis), directly or indirectly, in one or more transactions,
without providing 15 days’ advance written notice to the Company by mail sent to the Company’s registered office to
the attention of the corporate secretary. The foregoing restriction will not apply to the ownership, acquisition or disposition
of shares as a result of: (i) a transfer of the Company Shares occurring by operation of law including, inter alia, the transfer
of the Company Shares to a trustee in bankruptcy, (ii) an acquisition or proposed acquisition by one or more underwriters
or portfolio managers who hold the Company Shares for the purposes of distribution to the public or for the benefit of a third
party, provided that such third party is in compliance with the foregoing restriction, or (iii) a conversion, exchange or
exercise of securities of the Company, duly issued or granted by the Company, into or for Subordinate Voting Shares in accordance
with their respective terms. If the Board reasonably believes that any such holder of the Company Shares may have failed to comply
with the foregoing restrictions, the Company may apply to the Supreme Court of British Columbia, or such other court of competent
jurisdiction, for an order directing that such shareholder disclose the number of the Company Shares held.

 

Notwithstanding the adoption of the redemption
provisions, the Company may not be able to exercise its redemption rights in full or at all. Under the BCBCA, the Company may not
make any payment to redeem shares if there are reasonable grounds for believing that the Company is unable to pay its liabilities
as they become due in the ordinary course of its business or if making the payment of the redemption price or providing the consideration
would cause the Company to be unable to pay its liabilities as they become due in the ordinary course of its business. In the event
that such restrictions prohibit the Company from exercising its redemption rights in part or in full, the Company will not be able
to exercise its redemption rights absent a waiver of such restrictions, which the Company may not be able to obtain on acceptable
terms or at all.

 

Coattail Agreement, dated March 18, 2019, by and among
Kyle E. Kingsley, Vireo Health International, Inc. and Odyssey Trust Company

 

On March 18, 2019, Kyle E. Kingsley, as the owner of all
the outstanding Super Voting Shares, entered into a customary coattail agreement with the Company and Odyssey Trust Company as
trustee (the “Coattail Agreement”). The Coattail Agreement contains provisions customary for dual class, listed
corporations designed to prevent transactions that otherwise would deprive the holders of Subordinate Voting Shares or of Multiple
Voting Shares of rights under applicable provincial take-over bid legislation to which they would have been entitled if Super Voting
Shares had been Subordinate Voting Shares or Multiple Voting Shares. The foregoing description is qualified in its entirety by
reference to the Coattail Agreement, which is included as Exhibit 4.1 hereto and incorporated by reference herein.EX-4.5

 Exhibit 4.5 

DESCRIPTION OF SECURITIES 
 General

 We are a Cayman Islands exempted company (company number 364819) and our affairs are governed by our amended and restated memorandum and articles of
association, the Companies Law and the common law of the Cayman Islands. Pursuant to our amended and restated memorandum and articles of association which was adopted upon the consummation of our initial public offering, we are authorized to issue
220,000,000 ordinary shares, $0.0001 par value each, including 200,000,000 Class A ordinary shares and 20,000,000 Class B ordinary shares, as well as 1,000,000 preferred 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. 

Units 
 Public Units 

Each unit had an offering price of $10.00 and consists of one Class A ordinary share and one-half of one warrant.
Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for a whole number
of the Company’s Class A ordinary shares. This means only a whole warrant may be exercised at any given time by a warrant holder. For example, if a warrant holder holds one-half of one warrant to
purchase a Class A ordinary share, such warrant will not be exercisable. If a warrant holder holds two-halves of one warrant, such whole warrant will be exercisable for one Class A ordinary share at
a price of $11.50 per share. The Class A ordinary shares and warrants have commenced separate trading, and holders have the option to continue to hold units or separate their units into the component securities. Holders will need to have their
brokers contact our transfer agent in order to separate the units into Class A ordinary shares and warrants. No fractional warrants have been or will be issued upon separation of the units and only whole warrants trade. Accordingly, unless you
purchase at least two units, you will not be able to receive or trade a whole warrant. 
 Ordinary Shares 

As of December 31, 2020, 25,916,502 of our ordinary shares were outstanding including: 

 

	 	•	 	 20,732,202 Class A ordinary shares underlying units issued as part of the offering; and

  

	 	•	 	 5,184,300 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 Law 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 requires a special resolution under Cayman Islands law, being the affirmative vote of at least two-thirds of the 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 a term of three years with only one class of directors being appointed in each year. There is no cumulative voting with respect to the appointment of directors, with the result
that the holders of more than 50% of the shares voted for the appointment of directors can elect all of the directors. However, only holders of Class B ordinary shares have the right to appoint directors in any election held prior to or in
connection with the completion of our initial business combination, meaning that holders of Class A ordinary shares do not have the right to appoint any directors until after the completion of our initial business combination. In addition, in a
vote to continue the Company in a jurisdiction outside the Cayman Islands (which requires the approval of at least two thirds of the votes of all ordinary shares), holders of our Class B ordinary shares will have ten votes for every
Class B ordinary share and holders of our Class A ordinary shares will have one vote for every Class A ordinary share. 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 and our continuation in a jurisdiction
outside the Cayman Islands prior to our initial business combination may only be amended by a special resolution passed by not less than two-thirds of our ordinary shares who attend and vote at our general
meeting which shall include the affirmative vote of a simple majority of our Class B ordinary shares. Our shareholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available
therefor. 
 Because our amended and restated memorandum and articles of association authorize the issuance of up to 200,000,000 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 appointed in
each year and each class (except for those directors appointed prior to our first annual general meeting) serving a three-year term. 
 In accordance with
Nasdaq corporate governance requirements, we are not required to hold an annual general meeting until one year after our first fiscal year end following our listing on Nasdaq. There is no requirement under the Companies Law for us to hold annual or
general meetings or appoint directors. We may not hold an annual general meeting to appoint new directors prior to the consummation of our initial business combination. 

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 taxes, divided by the number of then outstanding public shares, subject to the limitations and on the conditions 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. Our sponsor, VPC Acquisition Holdings Sponsor, LLC (“sponsor”), officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with
respect to their founder shares and public shares in connection with the completion of our initial business combination. Unlike many special purpose acquisition 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 law and we
do not decide to hold a shareholder vote for business or other legal 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 our 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 law, or we decide to obtain shareholder approval for
business or other reasons, we will, like many special purpose acquisition 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 we receive an ordinary resolution under Cayman Islands law, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the
company. However, the participation of our sponsor, officers, directors, advisors or their affiliates in privately-negotiated transactions, 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. For purposes of seeking approval of an ordinary resolution, 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 days’ notice be given of any general 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 Excess Shares without 

 
our prior consent. 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 20% 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 in connection with our initial business combination, our sponsor, officers and directors have agreed to vote their founder
shares and any public shares purchased during or after our initial public offering (including in open market and privately-negotiated transactions) in favor of our initial business combination. As a result, in addition to our initial
shareholders’ founder shares, we would need 7,773,952, or 37.5%, of the public shares sold in the offering to be voted in favor of an initial business combination in order to have our initial business combination approved (assuming all
outstanding shares are voted). Additionally, each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction or whether they were a public shareholder on the record date for
the general meeting held to approve the proposed transaction. 
 Pursuant to our amended and restated memorandum and articles of association, if we are
unable to complete our initial business combination by September 25, 2022, 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 (less taxes
payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to
receive further liquidation distributions, if any), subject to applicable law 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 in all cases subject to the other requirements of applicable law. Our sponsor, officers and directors
have entered into a letter agreement with us, pursuant to which they have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares if we fail to complete our initial business combination
by September 25, 2022. However, if our sponsor or management team acquire or acquired public shares in or after our initial public offering, they will be entitled to liquidating distributions from the trust account with respect to such public
shares if we fail to complete our initial business combination within the prescribed time period. 
 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
taxes, divided by the number of then outstanding public shares, upon the completion of our initial business combination, subject to the limitations and on the conditions described herein. 

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 included in the units sold in our initial public offering, and holders of founder shares have the same shareholder rights as public
shareholders, except that (i) the founder shares are subject to certain transfer restrictions, as described in more detail below, (ii) the founder shares are entitled to registration rights; (iii) in a vote to continue the Company in
a jurisdiction outside the Cayman Islands (which requires the approval of at least two thirds of the votes of all ordinary shares), holders of our founder shares will have ten votes for every founder share and holders of our Class A ordinary
shares will have one vote for every Class A ordinary share; and (iv) our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to 

 
(A) waive their redemption rights with respect to their founder shares and public shares in connection with the completion of our initial business combination, (B) waive their redemption
rights with respect to their founder shares and public shares in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) to modify the substance or timing of our
obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we have not consummated an initial business combination by September 25, 2022 or (B) with respect to any other
material provisions relating to shareholders’ rights or pre-initial business combination activity, (C) waive their rights to liquidating distributions from the trust account with respect to their
founder shares if we fail to complete our initial business combination by September 25, 2022, 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 such time period and (D) vote any founder shares held by them and any public shares purchased in or after our initial public offering (including in open market and privately-negotiated transactions) in
favor of our initial business combination, (v) the founder shares are automatically convertible into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination on a one-for-one basis, subject to adjustment as described herein and in our amended and restated memorandum and articles of association, and (iv) only holders of Class B
ordinary shares have the right to appoint directors in any election held prior to or in connection with the completion of our initial business combination. 

The founder shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial
business combination on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations,
reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares or equity-linked securities are issued or deemed issued in connection with our initial
business combination, the number of Class A ordinary shares issuable upon conversion of all founder shares will equal, in the aggregate, 20% of the total number of Class A ordinary shares outstanding after such conversion (after giving
effect to any redemptions of Class A ordinary shares by public shareholders), including 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, or to be issued, to any seller in the initial business combination and any private placement warrants issued to our sponsor, officers or directors upon conversion of working capital loans; provided that such
conversion of founder shares will never occur on a less than one-for-one basis. 

With certain limited exceptions, the founder shares are not transferable, assignable or salable (except to our officers and directors and other persons or
entities affiliated with our sponsor, each of whom will be subject to the same transfer restrictions) until the earlier of (A) one year after the completion of our initial business combination or earlier if, subsequent to our initial business
combination, the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, 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, and (B) the date following the completion of our initial business
combination on which we complete a liquidation, merger, share exchange or other similar transaction that results in all of our shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property. 

Register of Members 
 Under Cayman Islands law, we must
keep a register of members and there will be entered therein: 
  

	 	•	 	 the names and addresses of the members, a statement of the shares held by each member, and of the amount paid or
agreed to be considered as paid, on the shares of each member and the voting rights of the shares of each member; 

  

	 	•	 	 the date on which the name of any person was entered on the register as a member; and 

 

	 	•	 	 the date on which any person ceased to be a member. 

Under Cayman Islands law, the register of members of our company is prima facie evidence of the matters set out therein (i.e. the register of members will
raise a presumption of fact on the matters referred to above unless rebutted) 

 
and a member registered in the register of members will be deemed as a matter of Cayman Islands law to have legal title to the shares as set against its name in the register of members. Upon the
closing of our initial public offering, the register of members was immediately updated to reflect the issue of shares by us. Once our register of members was updated, the shareholders recorded in the register of members were deemed to have legal
title to the shares set against their name. However, there are certain limited circumstances where an application may be made to a Cayman Islands court for a determination on whether the register of members reflects the correct legal position.
Further, the Cayman Islands court has the power to order that the register of members maintained by a company should be rectified where it considers that the register of members does not reflect the correct legal position. If an application for an
order for rectification of the register of members were made in respect of our ordinary shares, then the validity of such shares may be subject to re-examination by a Cayman Islands court. 

Preferred Shares 
 Our amended and restated memorandum and
articles of association authorize 1,000,000 preferred shares and provide that preferred shares may be issued from time to time in one or more series. Our board of directors will be 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
preferred 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 preferred 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 preferred shares outstanding at the date hereof. Although we do not currently intend
to issue any preferred shares, we cannot assure you that we will not do so in the future. No preferred shares were issued or registered in the offering. 

Warrants 
 Public Warrants 

Each whole warrant entitles the registered holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as
discussed below, at any time commencing on the later of one year from the closing of our initial public offering or 30 days after the completion of our initial business combination, provided in each case that we have an effective registration
statement under the Securities Act covering the Class A ordinary shares issuable upon exercise of the warrants and a current prospectus relating to them is available (or we permit holders to exercise their warrants on a cashless basis under the
circumstances specified in the warrant agreement) and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder. Pursuant to the warrant agreement, a warrant
holder may exercise its warrants only for a whole number of Class A ordinary shares. This means only a whole warrant may be exercised at a given time by a warrant holder. No fractional warrants were issued upon separation of the units and only
whole warrants trade. Accordingly, unless you purchase at least two units, you will not be able to receive or trade a whole warrant. The warrants will expire five years after the completion of our initial business combination, at 5:00 p.m., New York
City time, or earlier upon redemption or liquidation. 
 We are not obligated to deliver any Class A ordinary shares pursuant to the exercise of a
warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act with respect to the Class A ordinary shares underlying the warrants is then effective and a prospectus relating thereto
is current, subject to our satisfying our obligations described below with respect to registration. No warrant will be exercisable and we are not obligated to issue a Class A ordinary share upon exercise of a warrant unless the Class A
ordinary share issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants. In the event that the conditions in the two
immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event will we be required to net
cash settle any warrant. In the event that a registration statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase price for the unit solely for the Class A ordinary
share underlying such unit. 

 We have agreed that as soon as practicable, but in no event later than fifteen (15) business days after
the closing of our initial business combination, we will use our best efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the warrants.
We will use our best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the warrants in accordance with the provisions of
the warrant agreement. If a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective by the sixtieth (60th) business day after the
closing of our initial business combination, warrant holders may, until such time as there is an effective registration statement and during any period when we will have failed to maintain an effective registration statement, exercise warrants on a
“cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if our Class A ordinary shares are at the time of any exercise of a warrant not listed on a national
securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of warrants sold as part of the units in the offering (the
“public warrants”) who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect a
registration statement, and in the event we do not so elect, we will use our best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. 

Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00. Once the warrants become exercisable, we
may redeem the outstanding warrants (except as described herein with respect to the private placement warrants): 
  

	 	•	 	 in whole and not in part; 

 

	 	•	 	 at a price of $0.01 per warrant; 

 

	 	•	 	 upon a minimum of 30 days’ prior written notice of redemption (the
“30-day redemption period”); and 

  

	 	•	 	 if, and only if, the closing price of the Class A ordinary shares equals or exceeds $18.00 per share (as
adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described under the heading “—Redemption Procedures—Anti-dilution Adjustments”) for any 20 trading days within a 30-trading day period ending three business days before we send the notice of redemption to the warrant holders. 

If and when the warrants become redeemable by us, we may exercise our redemption right even if we are unable to register or qualify the underlying securities
for sale under all applicable state securities laws. 
 We have established the last of the redemption criterion discussed above to prevent a redemption
call unless there is at the time of the call a significant premium to the warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrant holder will be entitled to exercise his,
her or its warrant prior to the scheduled redemption date. However, the price of the Class A ordinary shares may fall below the $18.00 redemption trigger price (as adjusted for share sub-divisions, share
capitalizations, reorganizations, recapitalizations and the like) as well as the $11.50 warrant exercise price after the redemption notice is issued. 

Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00. Once the warrants become exercisable, we
may redeem the outstanding warrants (except as described herein with respect to the private placement warrants): 
  

	 	•	 	 in whole and not in part; 

 

	 	•	 	 at a price of $0.10 per warrant; 

	 	•	 	 upon a minimum of 30 days’ prior written notice of redemption; provided that holders will be able to
exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined by reference to the table below, based on the redemption date and the “fair market value” (as defined below) of our Class A
ordinary shares except as otherwise described below; 

  

	 	•	 	 if, and only if, the closing price of our Class A ordinary shares equals or exceeds $10.00 per share (as
adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described under the heading “—Redemption Procedures—Anti-dilution Adjustments”) for any 20 trading days within the 30-trading day period ending three trading days before we send the notice of redemption to the warrant holders; and 

  

	 	•	 	 if the closing price of the Class A ordinary shares for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which we send the notice of redemption to the warrant holders is less than $18.00 per share (as adjusted for adjustments to the number of
shares issuable upon exercise or the exercise price of a warrant as described under the heading “Description of Securities—Warrants—Public Warrants—Anti-dilution Adjustments”), the private placement warrants must also be
concurrently called for redemption on the same terms as the outstanding public warrants, as described above. 

 Beginning on the date the
notice of redemption is given and until the warrants are redeemed or exercised, holders may elect to exercise their warrants on a cashless basis. The numbers in the table below represent the number of Class A ordinary shares that a warrant
holder will receive upon such cashless exercise in connection with a redemption by us pursuant to this redemption feature, based on the “fair market value” of our Class A ordinary shares on the corresponding redemption date (assuming
holders elect to exercise their warrants and such warrants are not redeemed for $0.10 per warrant), determined for these purposes based on the volume-weighted average price of our Class A ordinary shares during the 10 trading days immediately
following the date on which the notice of redemption is sent to the holders of warrants, and the number of months that the corresponding redemption date precedes the expiration date of the warrants, each as set forth in the table below. We will
provide our warrant holders with the final fair market value no later than one business day after the 10-trading day period described above ends. 

Pursuant to the warrant agreement, references above to Class A ordinary shares shall include a security other than Class A ordinary shares into
which the Class A ordinary shares have been converted or for which they have been exchanged in the event we are not the surviving company in our initial business combination. 

The share prices set forth in the column headings of the table below will be adjusted as of any date on which the number of shares issuable upon exercise of a
warrant or the exercise price of a warrant is adjusted as set forth under the heading “—Redemption Procedures—Anti-dilution Adjustments” below. If the number of shares issuable upon exercise of a warrant is adjusted, the adjusted
share prices in the column headings will equal the share prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the number of shares deliverable upon exercise of a warrant immediately prior to such
adjustment and the denominator of which is the number of shares deliverable upon exercise of a warrant as so adjusted. The number of shares in the table below shall be adjusted in the same manner and at the same time as the number of shares issuable
upon exercise of a warrant. If the exercise price of a warrant is adjusted, (a) in the case of an adjustment pursuant to the fifth paragraph under the heading “—Redemption Procedures—Anti-dilution Adjustments” below, the
adjusted share prices in the column headings will equal the unadjusted share prices multiplied by a fraction, the numerator of which is the higher of the Market Value and the Newly Issued Price as set forth under the heading “—Redemption
Procedures—Anti-dilution Adjustments” and the denominator of which is $10.00 and (b) in the case of an adjustment pursuant to the second paragraph under the heading “—Redemption Procedures—Anti-dilution
Adjustments” below, the adjusted share prices in the column headings will equal the unadjusted share prices less the decrease in the exercise price of a warrant pursuant to such exercise price adjustment. 

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

 The exact fair market value and redemption date may not be set forth in the table above, in which case, if the fair market
value is between two values in the table or the redemption date is between two redemption dates in the table, the number of Class A ordinary shares to be issued for each warrant exercised will be determined by a straight-line interpolation
between the number of shares set forth for the higher and lower fair market values and the earlier and later redemption dates, as applicable, based on a 365 or 366-day year, as applicable. For example, if the
volume weighted average price of our Class A ordinary shares during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of the warrants is $11.00 per share, and at such time there are 57
months until the expiration of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants for 0.277 Class A ordinary shares for each whole warrant. For an example where the exact fair market value
and redemption date are not as set forth in the table above, if the volume-weighted average price of our Class A ordinary shares during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders
of the warrants is $13.50 per share, and at such time there are 38 months until the expiration of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants for 0.298 Class A ordinary shares for
each whole warrant. In no event will the warrants be exercisable on a cashless basis in connection with this redemption feature for more than 0.361 Class A ordinary shares per warrant (subject to adjustment). Finally, as reflected in the table
above, if the warrants are out of the money and about to expire, they cannot be exercised on a cashless basis in connection with a redemption by us pursuant to this redemption feature, since they will not be exercisable for any Class A ordinary
shares. 
 This redemption feature differs from the typical warrant redemption features used in many other blank check company offerings, which typically
only provide for a redemption of warrants for cash (other than the private placement warrants) when the trading price for the Class A ordinary shares exceeds $18.00 per share for a specified period of time. This redemption feature is structured
to allow for all of the outstanding warrants to be redeemed when the Class A ordinary shares are trading at or above $10.00 per public share, which may be at a time when the trading price of our Class A ordinary shares is below the
exercise price of the warrants. We have established this redemption feature to provide us with the flexibility to redeem the warrants without the warrants having to reach the $18.00 per share threshold set forth above under “—Redemption of
warrants when the price per Class A ordinary share equals or exceeds $18.00.” Holders choosing to exercise their warrants in connection with a redemption pursuant to this feature will, in effect, receive a number of shares for their
warrants based on an option pricing model with a fixed volatility input as of the date of the prospectus from our initial public offering. This redemption right provides us with an additional mechanism by which to redeem all of the outstanding
warrants, and therefore have certainty as to our capital structure as the warrants would no longer be outstanding and would have been exercised or redeemed. We will be required to pay the applicable redemption price to warrant holders if we choose
to exercise this redemption right and it will allow us to quickly proceed with a redemption of the warrants if we determine it is in our best interest to do so. As such, we would redeem the warrants in this manner when we believe it is in our best
interest to update our capital structure to remove the warrants and pay the redemption price to the warrant holders. 

 As stated above, we can redeem the warrants when the Class A ordinary shares are trading at a price
starting at $10.00, which is below the exercise price of $11.50, because it will provide certainty with respect to our capital structure and cash position while providing warrant holders with the opportunity to exercise their warrants on a cashless
basis for the applicable number of shares. If we choose to redeem the warrants when the Class A ordinary shares are trading at a price below the exercise price of the warrants, this could result in the warrant holders receiving fewer
Class A ordinary shares than they would have received if they had chosen to wait to exercise their warrants for Class A ordinary shares if and when such Class A ordinary shares were trading at a price higher than the exercise price of
$11.50. 
 No fractional Class A ordinary shares will be issued upon exercise. If, upon exercise, a holder would be entitled to receive a fractional
interest in a share, we will round down to the nearest whole number the number of Class A ordinary shares to be issued to the holder. If, at the time of redemption, the warrants are exercisable for a security other than the Class A
ordinary shares pursuant to the warrant agreement (for instance, if we are not the surviving company in our initial business combination), the warrants may be exercised for such security. At such time as the warrants become exercisable for a
security other than the Class A ordinary shares, the Company (or surviving company) will use its commercially reasonable efforts to register under the Securities Act the security issuable upon the exercise of the warrants. 

Redemption procedures. 
 A holder of a warrant may notify
us in writing in the event it elects to be subject to a requirement that such holder will not have the right to exercise such warrant, to the extent that after giving effect to such exercise, such person (together with such person’s
affiliates), to the warrant agent’s actual knowledge, would beneficially own in excess of 4.9% or 9.8% (as specified by the holder) of the Class A ordinary shares outstanding immediately after giving effect to such exercise. 

Anti-dilution Adjustments. 
 If the number of outstanding
Class A ordinary shares is increased by a share capitalization payable in Class A ordinary shares, or by a sub-division of ordinary shares or other similar event, then, on the effective date of such
share capitalization, sub-division or similar event, the number of Class A ordinary shares issuable on exercise of each warrant will be increased in proportion to such increase in the outstanding ordinary
shares. A rights offering made to all or substantially all holders of ordinary shares entitling holders to purchase Class A ordinary shares at a price less than the fair market value will be deemed a share capitalization of a number of
Class A ordinary shares equal to the product of (i) the number of Class A ordinary shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or
exercisable for Class A ordinary shares) and (ii) the quotient of (x) the price per Class A ordinary share paid in such rights offering and (y) the fair market value. For these purposes (i) if the rights offering is for
securities convertible into or exercisable for Class A ordinary shares, in determining the price payable for Class A ordinary shares, there will be taken into account any consideration received for such rights, as well as any additional
amount payable upon exercise or conversion and (ii) fair market value means the volume weighted average price of Class A ordinary shares as reported during the ten (10) trading day period ending on the trading day prior to the first
date on which the Class A ordinary shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. 

In addition, if we, at any time while the warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to
all or substantially all the holders of Class A ordinary shares on account of such Class A ordinary shares (or other securities into which the warrants are convertible), other than (a) as described above, (b) certain ordinary
cash dividends, (c) to satisfy the redemption rights of the holders of Class A ordinary shares in connection with a proposed initial business combination, or (d) in connection with the redemption of our public shares upon our failure
to complete our initial business combination, then the warrant exercise price will be decreased, effective immediately after the effective date of such event, by the amount of cash and/or the fair market value of any securities or other assets paid
on each Class A ordinary share in respect of such event. 

 If the number of outstanding Class A ordinary shares is decreased by a consolidation, combination,
reverse share sub-division or reclassification of Class A ordinary shares or other similar event, then, on the effective date of such consolidation, combination, reverse share sub-division, reclassification or similar event, the number of Class A ordinary shares issuable on exercise of each warrant will be decreased in proportion to such decrease in outstanding Class A ordinary
shares. 
 Whenever the number of Class A ordinary shares purchasable upon the exercise of the warrants is adjusted, as described above, the warrant
exercise price will be adjusted by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which will be the number of Class A ordinary shares purchasable upon the exercise of the
warrants immediately prior to such adjustment, and (y) the denominator of which will be the number of Class A ordinary shares so purchasable immediately thereafter. 

In addition, if (x) we issue additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the
closing of our initial business combination at a Newly Issued Price of less than $9.20 per Class A ordinary share, (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest
thereon, available for the funding of our initial business combination on the date of the consummation of our initial business combination (net of redemptions), and (z) the Market Value of our Class A ordinary shares is below $9.20 per
share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption trigger prices described above under
“Description of Securities—Warrants—Public Warrants—Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00” and “Redemption of warrants when the price per Class A ordinary
share equals or exceeds $10.00” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price described above under “Description
of Securities—Warrants—Public Warrants—Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00” will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the
Newly Issued Price. 
 In case of any reclassification or reorganization of the outstanding Class A ordinary shares (other than those described above
or that solely affects the par value of such Class A ordinary shares), or in the case of any merger or consolidation of us with or into another corporation (other than a consolidation or merger in which we are the continuing corporation and
that does not result in any reclassification or reorganization of our issued and outstanding Class A ordinary shares), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of us as an
entirety or substantially as an entirety in connection with which we are dissolved, the holders of the warrants will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the warrants and in
lieu of the Class A ordinary shares immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of Class A ordinary shares or other securities or property (including cash)
receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the warrants would have received if such holder had exercised their warrants immediately
prior to such event. If less than 70% of the consideration receivable by the holders of Class A ordinary shares in such a transaction is payable in the form of Class A ordinary shares in the successor entity that is listed for trading on a
national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if
the registered holder of the warrant properly exercises the warrant within thirty days following public disclosure of such transaction, the warrant exercise price will be reduced as specified in the warrant agreement based on the Black-Scholes
Warrant Value (as defined in the warrant agreement) of the warrant. The purpose of such exercise price reduction is to provide additional value to holders of the warrants when an extraordinary transaction occurs during the exercise period of the
warrants pursuant to which the holders of the warrants otherwise do not receive the full potential value of the warrants. 
 The warrants were issued in
registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. The warrant agreement provides that the terms of the warrants may be amended without the consent of any holder for the
purpose of (i) curing any ambiguity or to correct any defective provision or mistake, including to conform the provisions of the warrant agreement to the description of the terms of the warrants and the warrant agreement, (ii) adjusting
the provisions relating to cash dividends on ordinary shares as contemplated by and in accordance with the warrant agreement or (iii) adding or changing any provisions with respect to matters or questions arising under the warrant agreement as
the parties to the warrant agreement may deem necessary or desirable and that the parties deem to not adversely affect the rights of the registered holders of 

 
the warrants, provided that the approval by the holders of at least 50% of the then-outstanding public warrants is required to make any change that adversely affects the interests of the
registered holders of public warrants, and, solely with respect to any amendment to the terms of the private placement warrants, 50% of the then outstanding private placement warrants. You should review a copy of the warrant agreement, which was
filed as an exhibit to this Annual Report on Form 10-K for a complete description of the terms and conditions applicable to the warrants. 

The warrants may be exercised upon surrender of the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the
exercise form on the reverse side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price (or on a cashless basis, if applicable), by certified or official bank check payable to us, for the
number of warrants being exercised. The warrant holders do not have the rights or privileges of holders of ordinary shares and any voting rights until they exercise their warrants and receive Class A ordinary shares. After the issuance of
Class A ordinary shares upon exercise of the warrants, each holder will be entitled to one vote for each share held of record on all matters to be voted on by shareholders. 

Private Placement Warrants 
 The private placement
warrants (including the Class A ordinary shares issuable upon exercise of such warrants) will not be transferable, assignable 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) and they will not be redeemable by us so long as they are held by our sponsor, members of our sponsor or their permitted transferees except as
described above under “—Warrants—Public Warrants—Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00”. The sponsor or its permitted transferees, have the option to exercise the
private placement warrants on a cashless basis. Except as described below, the private placement warrants have terms and provisions that are identical to those of the warrants sold as part of the units in the offering. If the private placement
warrants are held by holders other than the sponsor or its permitted transferees, the private placement warrants will be redeemable by us and exercisable by the holders on the same basis as the warrants included in the units sold in the offering.

 Except as described above under “—Warrants—Public Warrants—Redemption of warrants when the price per Class A
ordinary share equals or exceeds $10.00,” if holders of the private placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering his, her or its warrants for that number of Class A
ordinary shares equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the “fair market value” of our Class A ordinary shares
(defined below) over the exercise price of the warrants by (y) the fair market value. The “fair market value” will mean the average reported closing price of the Class A ordinary shares for the 10 trading days ending on the third
trading day prior to the date on which the notice of warrant exercise is sent to the warrant agent. The reason that we have agreed that these warrants will be exercisable on a cashless basis so long as they are held by the sponsor or its permitted
transferees is because it is not known at this time whether they will be affiliated with us following a business combination. If they remain affiliated with us, their ability to sell our securities in the open market will be significantly limited.
We expect to have policies in place that prohibit insiders from selling our securities except during specific periods of time. Even during such periods of time when insiders will be permitted to sell our securities, an insider cannot trade in our
securities if he or she is in possession of material non-public information. Accordingly, unlike public shareholders who could exercise their warrants and sell the Class A ordinary shares received upon
such exercise freely in the open market in order to recoup the cost of such exercise, the insiders could be significantly restricted from selling such securities. As a result, we believe that allowing the holders to exercise such warrants on a
cashless basis is appropriate. 
 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 a 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 a business combination. The payment of any cash dividends subsequent to a business combination will be within the discretion of our board of directors at such
time. If we incur any indebtedness, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith. 

 Our Transfer Agent and Warrant Agent 

The transfer agent for our ordinary shares and warrant agent for our warrants is Continental Stock Transfer & Trust Company. We have agreed to
indemnify Continental Stock Transfer & Trust Company in its roles as transfer agent and warrant 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 liability due to any gross negligence or intentional misconduct of the indemnified person or entity. Continental Stock Transfer & Trust Company has agreed that it has
no right of set-off or any right, title, interest or claim of any kind to, or to any monies in, the trust account, and has irrevocably waived any right, title, interest or claim of any kind to, or to any
monies in, the trust account that it may have now or in the future. Accordingly, any indemnification provided will only be able to be satisfied, or a claim will only be able to be pursued, solely against us and our assets outside the trust account
and not against the any monies in the trust account or interest earned thereon. 
 Amended and Restated Memorandum and Articles of Association 

The Business Combination Article of our amended and restated memorandum and articles of association contains provisions designed to provide certain rights and
protections relating to our initial public offering that will 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) at least two-thirds (or any higher threshold specified in a company’s articles of association) of a company’s
shareholders at a general 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 (i.e., the lowest threshold permissible under Cayman Islands law), or by a unanimous written resolution of all of our shareholders. 

Our initial shareholders, who collectively beneficially own 20% of our ordinary shares, 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 are unable to complete our initial business combination by September 25, 2022, 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 (less taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of 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 in all cases subject to the other requirements of applicable law; 

  

	 	•	 	 Prior to 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 on our initial business combination; 

  

	 	•	 	 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 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 a valuation or appraisal firm that such a business combination is fair to our company from a financial point of view; 

	 	•	 	 If a shareholder vote on our initial business combination is not required by law and we do not decide to hold a
shareholder vote for business or other legal 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;

  

	 	•	 	 If our shareholders approve an amendment to our amended and restated memorandum and articles of association
(A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination by September 25,
2022 or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity, we will provide our public shareholders with the opportunity
to redeem all or a portion of their Class A 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 taxes, divided by the number of then outstanding public shares, subject to the limitations and on the conditions described herein; and 

 

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

 In addition, our amended and restated memorandum and articles of association provide we will not redeem our
public shares in an amount that would cause our net tangible assets to be less than $5,000,001. We may, however, raise funds through the issuance of equity-linked securities or through loans, advances or other indebtedness in connection with our
initial business combination, including pursuant to forward purchase agreements or backstop arrangements we may enter into following consummation of our initial public offering, in order to, among other reasons, satisfy such net tangible assets
requirement. 
 The Companies Law 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. 
 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 are 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 general meetings. 

Our authorized but unissued Class A ordinary shares and preferred 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 preferred 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. 

 Registration Rights 

The holders of the (i) founder shares, which were issued in a private placement prior to the closing of our initial public offering, (ii) private
placement warrants, which were issued in a private placement simultaneously with the closing of our initial public offering and the Class A ordinary shares underlying such private placement warrants and (iii) private placement warrants
that may be issued upon conversion of working capital loans will have registration rights to require us to register a sale of any of our securities held by them pursuant to a registration rights agreement. Pursuant to the registration rights
agreement and assuming $1.5 million of working capital loans are converted into private placement warrants, we will be obligated to register up to 12,831,850 Class A ordinary shares and 7,647,550 warrants. The number of Class A
ordinary shares includes (i) 5,184,300 Class A ordinary shares to be issued upon conversion of the founder shares, (ii) 6,147,550 Class A ordinary shares underlying the private placement warrants and (iii) 1,500,000 Class A ordinary
shares underlying the private placement warrants issued upon conversion of working capital loans. The number of warrants includes 6,147,550 private placement warrants. 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. We will bear the expenses incurred in connection with the filing of any such registration statements. 
 Listing of Securities 

Our units, ordinary shares and warrants are listed on Nasdaq under the symbols “VIHAU,” “VIH” and “VIHAW,” respectively.

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