Document:

Exhibit 4.1

 

DESCRIPTION
OF SECURITIES

 

As
of March 2, 2020, AGM Holdings (the “Company”) had one class of securities registered under Section 12 of the
Securities Exchange Act of 1934, as amended: class A ordinary shares, par value $0.001 per share (“common stock”).
The following description of the Company’s common stock is a summary and is not complete. For a complete description, please
refer to the Company’s articles of incorporation (as amended to date, the Company’s “Articles of Incorporation”)
and bylaws (as amended to date, the Company’s “Bylaws”), which the company has incorporated by reference as
exhibits to the Company’s Annual Report on Form 20-F for the year ended December 31, 2018. Stockholders are also encouraged
to refer to the application provisions of the Nevada Revised Statutes and Administrative Codes for additional information. References
to “stockholders” refer to holders of the Company’s common stock, unless the context otherwise requires.

 

The
Company was incorporated on April 27, 2015 under the BVI Business Companies Act, 2004 (the “BVI Act”) as a company
limited by shares. As at the date of this prospectus, the Company is authorized to issue 200,000,000 Class A ordinary shares of
$0.001 par value per share and 200,000,000 Class B ordinary shares of $0.001 par value per share. As of the date of this prospectus,
there are 21,791,055 Class A ordinary shares and 7,100,000 Class B ordinary shares issued and outstanding.

 

The
Company’s memorandum and articles of association do not permit a director to decide what compensation he or she will receive.
All decisions about the compensation of directors will be recommended by the compensation committee, upon its formation, and approved
by the board of directors as a whole, both acting only when a quorum of members is present.

 

The
following are summaries of the material provisions of the Company’s memorandum and articles of association that will be
in force at the time of the closing of this offering and the BVI Act insofar as they relate to the material terms of the Company’s
Class A ordinary shares. Copies of the Company’s memorandum and articles of association are filed as exhibits to the registration
statement of which this prospectus is a part.

 

Class
A Ordinary Shares

 

General

 

Each
Class A ordinary share in the Company confers upon the shareholder:

 

	 	●	the right
    to one vote at a meeting of the shareholders of the Company or on any resolution of shareholders;

 

	 	●	the right
    to an equal share in any dividend paid by the Company; and

 

	 	●	the right
    to an equal share in the distribution of the surplus assets of the Company on its liquidation.

 

All
of the Company’s issued Class A ordinary shares are fully paid and non-assessable. Certificates representing the Class A
ordinary shares are issued in registered form. The Company’s shareholders who are non-residents of the British Virgin Islands
may freely hold and vote their Class A ordinary shares.

 

Class
B Ordinary Shares

 

General

 

Each
Class B ordinary share in the Company confers upon the shareholder the right to five votes at a meeting of the shareholders of
the Company or on any resolution of shareholders.

 

Each
Class B ordinary share may not be sold, assigned, transferred, alienated, commuted, anticipated, or otherwise disposed of (including
by will or the laws of descent and distribution), or pledged or hypothecated as collateral for a loan or as security for the performance
of any obligation, or be otherwise encumbered, and are not subject to attachment, garnishment, execution or other legal or equitable
process, and any attempt to do so shall be null and void.

 

     

     

    

 

Each
Class B ordinary share shall only be issued to Company’s or its subsidiaries’ employees or those entities of which
its principal shareholder is an employee of the Company or its subsidiaries. Shareholder’s termination of employment with
the Company or its subsidiaries shall immediately result in the cancellation of any and all issued and outstanding shares of Class
B ordinary shares held by such shareholder on the date of termination.

 

Sale,
assignment, transfer, alienation, or otherwise disposition of any Class A ordinary shares by common shareholder of Class B ordinary
shares shall immediately result in the cancellation of an equal number of Class B ordinary shares on the date of such disposition.

 

Shareholder(s)
of Class B ordinary shares in the Company shall not:

 

	 	●	receive the
    right to any dividend paid by the Company;
	 	 	 
	 	●	receive
    the right to any distribution of the surplus assets of the Company on its liquidation.

 

Transfer
Agent and Registrar

 

The
transfer agent and registrar for the Class A ordinary shares is VStock Transfer, LLC, 18 Lafayette Pace, Woodmere, NY 11598.

 

Distributions

 

The
holders of the Company’s Class A ordinary shares are entitled to such dividends or other distributions as may be authorized
by the Company’s board of directors, subject to the BVI Act and the Company’s memorandum and articles of association.

 

Voting
rights of shareholders

 

Any
action required or permitted to be taken by the shareholders must be taken at a duly called meeting of the shareholders entitled
to vote on such action. At each meeting of shareholders, each shareholder who is present in person or by proxy (or, in the case
of a shareholder being a corporation, by its duly authorized representative) will have one vote for each Class A ordinary share
or five votes for each Class B ordinary share which such shareholder holds. An action that may be taken by the shareholders at
a meeting may also be taken by a resolution of shareholders consented to in writing.

 

    2

     

    

 

Election
of directors

 

Delaware
law permits cumulative voting for the election of directors only if expressly authorized in the certificate of incorporation.
The laws of the British Virgin Islands do not specifically prohibit or restrict the creation of cumulative voting rights for the
election of the Company’s directors. Cumulative voting is not a concept that is accepted as a common practice in the British
Virgin Islands, and the Company has made no provisions in its memorandum and articles of association to allow cumulative voting
for elections of directors.

 

Meetings
of shareholders

 

Any
of the Company’s directors may convene a meeting of shareholders at any time and in any manner and place the director considers
necessary or desirable. The director convening a meeting must give not less than 7 days’ notice of the meeting to those
persons whose names appear as shareholders in the register of shareholders on the date of the notice and are entitled to vote
at the meeting, and the other directors. The Company’s board of directors must convene a meeting of shareholders upon the
written request of shareholders entitled to exercise 30% or more of the voting rights in respect of the matter for which the meeting
is requested within 28 days of receiving the written request. A meeting of shareholders held in contravention of the requirement
to give notice is valid if shareholders holding at least 90% of the total voting rights on all the matters to be considered at
the meeting have waived notice of the meeting and, for this purpose, the presence of a shareholder at the meeting shall constitute
waiver in relation to all the shares which that shareholder holds.

 

The
quorum for a meeting of shareholders is duly constituted if, at the beginning of the meeting, there are present in person or by
proxy not less than 50% of the votes of the shares (or class or series of shares) entitled to vote on the resolutions to be considered
at the meeting. A quorum may comprise a single shareholder or proxy. If within two hours from the time appointed for the meeting
a quorum is not present, the meeting, if convened upon the requisition of the shareholders, will be dissolved. In any other case
it will stand adjourned to the next business day in the jurisdiction in which the meeting was to have been held at the same time
and place or to such other time and place as the directors may determine and, if at the adjourned meeting there are present within
one hour from the time appointed for the meeting in person or by proxy not less than one third of the votes of the shares or each
class or series of shares entitled to vote on the matter to be considered by the meeting, those present will constitute a quorum
but otherwise the meeting will be dissolved.

  

A
person other than an individual which is a shareholder may, by a resolution of its directors or other governing body, authorize
any individual it thinks fit to act as its representative at any meeting of shareholders. The duly authorized representative shall
be entitled to exercise the same powers on behalf of the person which he or she represents as that person could exercise if it
were an individual shareholder.

 

Meetings
of directors

 

The
Company’s business and affairs are managed by its board of directors, who will make decisions by voting on resolutions of
directors. The Company’s directors are free to meet at such times and in such manner and places within or outside the BVI
as the directors determine to be necessary or desirable. A director must be given not less than 3 days’ notice of a meeting
of directors. At any meeting of directors, a quorum will be present if not less than one half of the total number of directors
is present, unless there are only 2 directors in which case the quorum is 2. An action that may be taken by the directors at a
meeting may also be taken by a resolution of directors consented to in writing by a majority of the directors.

 

Protection
of minority shareholders

 

The
Company would normally expect British Virgin Islands courts to follow English case law precedents, which would permit a minority
shareholder to commence a representative action, or derivative actions in the Company’s name, to challenge (1) an act
which is ultra vires or illegal, (2) an act which constitutes a fraud against the minority by parties in control of the Company,
(3)  an infringement of individual rights of the minority shareholder, such as the right to vote and pre-emptive rights,
and (4) an irregularity in the passing of a resolution which requires a special or extraordinary majority of the shareholders.

 

Pre-emptive
rights

 

There
are no pre-emptive rights applicable to the issue by the Company of new Class A ordinary shares under either British Virgin Islands
law or the Company’s memorandum and articles of association.

 

Transfer
of Class A ordinary shares

 

Subject
to the restrictions in the Company’s memorandum and articles of association and applicable securities laws, any of the Company’s
shareholders may transfer all or any of his or her Class A ordinary shares by written instrument of transfer signed by the transferor
and containing the name and address of the transferee. The Company’s board of directors may not resolve to refuse or delay
the transfer of any Class A ordinary shares the shareholder has failed to pay an amount due in respect of the Class A ordinary
shares.

 

    3

     

    

 

Liquidation

 

If
the Company’s wound up and the assets available for distribution among the Company’s shareholders are more than sufficient
to repay all amounts paid to the Company on account of the issue of shares immediately prior to the winding up, the excess shall
be distributable pari passu among those shareholders in proportion to the amount paid up immediately prior to the winding up on
the shares held by them, respectively. If the Company is wound up and the assets available for distribution among the shareholders
as such are insufficient to repay the whole of the amounts paid to the Company on account of the issue of shares, those assets
shall be distributed so that, to the greatest extent possible, the losses shall be borne by the shareholders in proportion to
the amounts paid up immediately prior to the winding up on the shares held by them, respectively. If the Company is wound up,
the liquidator appointed by the Company may, in accordance with the BVI Act, divide among the Company’s shareholders in
specie or kind the whole or any part of the Company’s assets (whether they shall consist of property of the same kind or
not) and may, for such purpose, set such value as the liquidator deems fair upon any property to be divided and may determine
how such division shall be carried out as between the shareholders or different classes of shareholders.

 

Calls
on Class A ordinary shares and forfeiture of Class A ordinary shares

 

The
Company’s board of directors may from time to time make calls upon shareholders for any amounts unpaid on their Class A
ordinary shares in a written notice served to such shareholders at least 14 days prior to the specified date of payment. Where
such a notice has been issued and its requirements have not been complied with, the directors may, at any time before the tender
of payment, forfeit and cancel the Class A ordinary shares to which the notice relates.

 

Issuance
of Class A ordinary shares

  

Subject
to the provisions of the BVI Act, the Company’s board of directors may authorize the issuance of Class A ordinary shares
at such times, to such persons, for such consideration and on such terms as they may determine by a resolution of directors, subject
to the BVI Act, the Company’s memorandum and articles of association and any applicable requirements imposed from time to
time by the SEC, The Nasdaq Capital Market, or by any recognized stock exchange on which the Company’s securities are listed.

 

Redemption
of Class A ordinary shares

 

Subject
to the provisions of the BVI Act and the Company’s memorandum and articles of association, the Company may not redeem Class
A ordinary shares held by a shareholder without the consent of that shareholder whose Class A ordinary shares are to be redeemed.

 

Variation
of rights

 

All
or any of the rights attached to any class of shares may, subject to the provisions of the BVI Act, only be varied with the consent
in writing of, or pursuant to a resolution passed at a meeting by, the holders of more than 50% of the issued shares of that class.

 

Changes
in the number of shares we are authorized to issue and those in issue

 

The
Company may from time to time by resolution of its board of directors:

 

	 	●	amend
    the Company’s memorandum of association to increase or decrease the maximum number of shares the Company is authorized
    to issue;
	 	 	 
	 	●	subject
    to the Company’s memorandum of association, divide the Company’s authorized and issued shares into a larger number
    of shares; and
	 	 	 
	 	●	subject
    to the Company’s memorandum of association, combine the Company’s authorized and issued shares into a smaller
    number of shares.

 

Inspection
of books and records

 

Under
the BVI Act, holders of the Company’s Class A ordinary shares are entitled, upon giving written notice to us, to inspect
(i) the Company’s memorandum and articles of association, (ii) the register of shareholders, (iii) the register
of directors and (iv) the minutes of meetings and resolutions of shareholders, and to make copies and take extracts from
these documents and records. However, the Company’s directors can refuse access if they are satisfied that to allow such
access would be contrary to the Company’s interests.

 

Rights
of non-resident or foreign shareholders

 

There
are no limitations imposed by the Company’s memorandum and articles of association on the rights of non-resident or foreign
shareholders to hold or exercise voting rights on the Company’s shares. In addition, there are no provisions in the Company’s
memorandum and articles of association governing the ownership threshold above which shareholder ownership must be disclosed.

 

4EX-4.5

 Exhibit 4.5 

OSPREY TECHNOLOGY ACQUISITION CORP. 

DESCRIPTION OF SECURITIES 

The following summary of the material terms of the securities of Osprey Technology Acquisition Corp., a Delaware corporation (“we,”
“us,” “our” or the “Company”), is not intended to be a complete summary of the rights and preferences of such securities and is subject to and qualified by reference to our amended and restated certificate of
incorporation, our amended and restated bylaws and the warrant agreement dated October 31, 2019, between the Company and Continental Stock Transfer & Trust Company (the “Warrant Agreement”), in each case incorporated by
reference as exhibits to the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “Report”), and applicable Delaware law, including the Delaware General
Corporation Law, or DGCL. We urge you to read our amended and restated certificate of incorporation, our amended and restated bylaws and the Warrant Agreement in their entirety for a complete description of the rights and preferences of our
securities. 
 Pursuant to our amended and restated certificate of incorporation, our authorized capital stock consists of 150,000,000
shares of Class A common stock, par value $0.0001 per share, 25,000,000 shares of Class B common stock, par value $0.0001 per share, and 1,000,000 shares of undesignated preferred stock, $0.0001 par value. 

Units 
 Each unit consists of one share of
Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock. Pursuant to the Warrant Agreement, a warrant holder
may exercise his, her or its warrants only for a whole number of shares of Class A common stock. This means that only a whole warrant may be exercised at any given time by a warrant holder. No fractional warrants will be issued upon separation
of the units and only whole warrants will trade. 
 The Class A common stock and warrants comprising the units began separate trading
on December 20, 2019. Holders have the option to continue to hold units or separate their units into the component securities. Holders need to have their brokers contact our transfer agent in order to separate the units into shares of
Class A common stock and warrants. 
 Common Stock 

Class A common stock 

Holders of record of the Company’s Class A common stock are entitled to one vote for each share held on all matters to be voted on by
stockholders. Holders of our Class B common stock have the right to elect all of our directors prior to the consummation of our initial business combination. On any other matter submitted to a vote of our stockholders, holders of our
Class B common stock and holders of our Class A common stock vote together as a single class, except as required by applicable law or stock exchange rule. These provisions of our amended and restated certificate of incorporation may only
be amended if approved by a majority of at least 90% of our common stock voting at a stockholder meeting. Unless specified in our amended and restated certificate of incorporation or bylaws, or as required by applicable law or stock exchange rules,
the affirmative vote of a majority of our shares of common stock that are voted is required to approve any such matter voted on by our stockholders (other than the election of directors). Directors are divided into three classes, each of which will
generally serve for a term of three years with only one class elected in each year. There is no cumulative voting with respect to the election of directors. Our stockholders 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 certificate of incorporation authorizes the issuance of up
to 150,000,000 shares of common stock, if we were to enter into an initial business combination, we may (depending on the terms of such a business combination) be required to increase the number of shares of common stock which we are authorized to
issue at the same time as our stockholders vote on the initial business combination. 
 We will provide our public stockholders with the
opportunity to redeem their shares upon the consummation 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 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 franchise and income taxes, divided by the number of then
outstanding public shares, subject to the limitations described herein and any limitations (including but not limited to cash requirements) agreed to in connection with the negotiation of terms of a proposed business combination. 

Our 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 any shares of Class B common stock and any public shares held by them in connection with the completion of our business combination. If a stockholder vote is not required by law and we do not decide to hold a stockholder
vote for business or other legal reasons, we will, pursuant to our amended and restated certificate of incorporation, 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 certificate of incorporation requires these tender offer documents to contain substantially the same financial and other information about the initial business combination and the
redemption rights as is required under the SEC’s proxy rules. If, however, a stockholder approval of the transaction is required by law, or we decide to obtain stockholder approval for business or other legal reasons, we will 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 stockholder approval, we will complete our initial business combination only if a majority of the outstanding shares
of common stock voted are voted in favor of the business combination. A quorum for such meeting will consist of the holders present in person or by proxy of shares of outstanding capital stock of the company representing a majority of the voting
power of all outstanding shares of capital stock of the company entitled to vote at such meeting. However, the participation of our sponsor, officers, directors, operating partners or their affiliates in privately-negotiated transactions, if any,
could result in the approval of our business combination even if a majority of our public stockholders vote, or indicate their intention to vote, against such business combination. For purposes of seeking approval of the majority of our outstanding
shares of common stock voted, non-votes will have no effect on the approval of our business combination once a quorum is obtained. We intend to give approximately 30 days (but not less than 10 days
nor more than 60 days) prior written notice of any such meeting, if required, at which a vote shall be taken to approve our business combination. These quorum and voting thresholds, and the voting agreements of our sponsor, may make it more likely
that we will consummate our initial business combination. 
 If we seek stockholder approval of our initial business combination and we do
not conduct redemptions in connection with our business combination pursuant to the tender offer rules, our amended and restated certificate of incorporation provides that a public stockholder, together with any affiliate of such stockholder or any
other person with whom such stockholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 20% of the shares
of Class A common stock, which we refer to as the Excess 

 
Shares. However, we would not be restricting our stockholders’ ability to vote all of their shares (including Excess Shares) for or against our business combination. Our stockholders’
inability to redeem the Excess Shares will reduce their influence over our ability to complete our business combination, and such stockholders could suffer a material loss in their investment if they sell such Excess Shares on the open market.
Additionally, such stockholders will not receive redemption distributions with respect to the Excess Shares if we complete the business combination. As a result, such stockholders will continue to hold that number of shares exceeding 20% and, in
order to dispose such shares would be required to sell their stock in open market transactions, potentially at a loss. 
 Pursuant to our
amended and restated certificate of incorporation, if we are unable to complete our business combination by November 5, 2021, 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 subject to lawfully available funds therefor, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount
then on deposit in the trust account including interest earned on the funds held in the trust account and not previously released to us to pay our franchise and income taxes (less 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 stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and
(iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide
for claims of creditors and the requirements of other 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 any Class B shares held by them if we fail to complete our business combination by November 5, 2021. However, if our sponsor acquires public shares, it will be entitled to liquidating distributions from the
trust account with respect to such public shares if we fail to complete our 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 stockholders 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 stock, if any, having preference over the common stock. Our stockholders have no preemptive or other subscription rights. There are no sinking fund provisions applicable to the common stock, except that we will
provide our public stockholders with the opportunity to redeem their public shares for cash equal to their pro rata share of the aggregate amount then on deposit in the trust account, upon the completion of our initial business combination, subject
to the limitations described herein. 
 Class B common stock 

There are 7,906,250 shares of our Class B common stock, or founder shares, outstanding. The founder shares are identical to the shares of
Class A common stock, and holders of founder shares have the same stockholder rights as public stockholders, except that (i) the founder shares are subject to certain transfer restrictions, as described in more detail below, (ii) our
sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed (A) to waive their redemption rights with respect to any founder shares and any public shares held by them in connection with the
completion of our business combination and (B) to waive their rights to liquidating distributions from the trust account with respect to any founder shares held by them if we fail to complete our business combination by November 5, 2021,
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 business combination within such time period, (iii) the founder shares are shares of our
Class B common stock that will automatically convert into shares of our Class A common stock at the time of our initial business 

 
combination, or at any time prior thereto at the option of the holder, on a one-for-one basis, subject to
adjustment pursuant to certain anti-dilution rights, as described herein and (iv) are subject to registration rights. If we submit our business combination to our public stockholders for a vote, our sponsor, officers and directors have agreed
to vote any founder shares held by them and any public shares held in favor of our initial business combination. 
 The shares of
Class B common stock will automatically convert into shares of Class A common stock at the time of our initial business combination on a one-for-one basis
(subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like), and subject to further adjustment as provided herein. In the case that additional shares of Class A common stock or equity-linked
securities are issued or deemed issued in excess of the amounts offered in the initial public offering and related to the closing of the business combination, the ratio at which shares of Class B common stock shall convert into shares of
Class A common stock will be adjusted (unless the holders of a majority of the outstanding shares of Class B common stock agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of shares of
Class A common stock issuable upon conversion of all shares of Class B common stock will equal, in the aggregate, on an as-converted basis 20% of the sum of the total number of all shares of common
stock issued and outstanding upon completion of the initial public offering, including placement shares, plus all shares of Class A common stock and equity-linked securities issued or deemed issued in connection with our initial business
combination, excluding any shares or equity-linked securities issued, or to be issued, to any seller in our initial business combination. Holders of founder shares may also elect to convert their shares of Class B common stock into an equal
number of shares of Class A common stock, subject to adjustment as provided above, at any time. 
 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 initial holders, each of whom will be subject to the same transfer restrictions) until the earlier of
(i) one year after the completion of our initial business combination, (ii) the last sale price of our Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, 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 (iii) the date following the completion of
our initial business combination on which we complete a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of our public stockholders having the right to exchange their shares of common stock
for cash, securities or other property. 
 Warrants 

Public Warrants 
 Each whole warrant
entitles the registered holder to purchase one whole share of our Class A common stock at a price of $11.50 per share, subject to adjustment as discussed below, at any time commencing on the later of 12 months from the closing of the initial
public offering or 30 days after the completion of our initial business combination. Pursuant to the Warrant Agreement, a warrantholder may exercise its warrants only for a whole number of shares of Class A common stock. This means that only a
whole warrant may be exercised at any given time by a warrantholder. No fractional warrants will be issued upon separation of the units and only whole warrants will 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 will not be obligated to deliver any shares of Class A common stock 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 shares of Class A common stock 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 will not be obligated to issue shares of Class A common stock upon exercise of
a warrant unless Class A common stock 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 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 share of Class A common stock underlying such unit. 

We have agreed that as soon as practicable, but in no event later than 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 shares of Class A common stock 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.
Notwithstanding the above, if our Class A common stock is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1)
of the Securities Act, we may, at our option, require holders of 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, but we will be required to use our best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. 

Once the warrants become exercisable, we may call the warrants for redemption: 

 

	 	•	 	 in whole and not in part; 

 

	 	•	 	 at a price of $0.01 per warrant; 

 

	 	•	 	 upon not less than 30 days’ prior written notice of redemption (the
“30-day redemption period”) to each warrant holder; and 

  

	 	•	 	 if, and only if, the reported last sale price of the Class A common stock equals or exceeds $18.00 per share
(as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like and for certain issuances of Class A common stock and equity-linked securities as described herein) 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 its warrant prior to the scheduled redemption date. However, the price of the Class A common stock may fall below the $18.00 redemption trigger price as well as the $11.50 (for whole shares) warrant exercise
price after the redemption notice is issued. 

 If we call the warrants for redemption as described above, our management will have the
option to require any holder that wishes to exercise its warrant to do so on a “cashless basis.” In determining whether to require all holders to exercise their warrants on a “cashless basis,” our management will consider, among
other factors, our cash position, the number of warrants that are outstanding and the dilutive effect on our stockholders of issuing the maximum number of shares of Class A common stock issuable upon the exercise of our warrants. If our
management takes advantage of this option, all holders of warrants would pay the exercise price by surrendering their warrants for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of
the number of shares of Class A common stock underlying the warrants, multiplied by the difference between the exercise price of the warrants and the “fair market value” (defined below) by (y) the fair market value. The
“fair market value” shall mean the average reported last sale price of the Class A common stock for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of
warrants. If our management takes advantage of this option, the notice of redemption will contain the information necessary to calculate the number of shares of Class A common stock to be received upon exercise of the warrants, including the
“fair market value” in such case. Requiring a cashless exercise in this manner will reduce the number of shares to be issued and thereby lessen the dilutive effect of a warrant redemption. We believe this feature is an attractive option to
us if we do not need the cash from the exercise of the warrants after our initial business combination. If we call our warrants for redemption and our management does not take advantage of this option, our sponsor and its permitted transferees would
still be entitled to exercise their private placement warrants for cash or on a cashless basis using the same formula described above that other warrant holders would have been required to use had all warrant holders been required to exercise their
warrants on a cashless basis, as described in more detail below. 
 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 9.8% (or such other amount as a holder may specify) of the shares of Class A common stock outstanding immediately after giving effect to such exercise. 

If the number of outstanding shares of Class A common stock is increased by a stock dividend payable in shares of Class A common
stock, or by a split-up of shares of Class A common stock or other similar event, then, on the effective date of such stock
dividend, split-up or similar event, the number of shares of Class A common stock issuable on exercise of each warrant will be increased in proportion to such increase in the outstanding shares
of Class A common stock. A rights offering to holders of Class A common stock entitling holders to purchase shares of Class A common stock at a price less than the fair market value will be deemed a stock dividend of a number of
shares of Class A common stock equal to the product of (i) the number of shares of Class A common stock actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are
convertible into or exercisable for Class A common stock) multiplied by (ii) one (1) minus the quotient of (x) the price per share of Class A common stock paid in such rights offering divided by (y) the fair market
value. For these purposes (i) if the rights offering is for securities convertible into or exercisable for Class A common stock, in determining the price payable for Class A common stock, 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 common stock as reported during the ten
(10) trading day period ending on the trading day prior to the first date on which the shares of Class A common stock 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 the holders of shares of Class A common stock on account of such shares (or other shares of Class A common stock 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 shares of Class A common stock in connection with a proposed initial business combination, (d) to satisfy
the redemption rights of the holders of shares of Class A common stock in connection with a stockholder vote to amend our amended and restated certificate of incorporation (i) 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 November 5, 2021 or (ii) with respect to any other provision relating to
stockholders’ rights or pre-initial business combination activity, or (e) 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 share of Class A
common stock in respect of such event. 
 If the number of outstanding shares of our Class A common stock is decreased by a
consolidation, combination, reverse stock split or reclassification of shares of Class A common stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification or similar
event, the number of shares of Class A common stock issuable on exercise of each warrant will be decreased in proportion to such decrease in outstanding shares of Class A common stock. 

Whenever the number of shares of Class A common stock 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 shares of Class A common stock purchasable upon the
exercise of the warrants immediately prior to such adjustment, and (y) the denominator of which will be the number of shares of Class A common stock so purchasable immediately thereafter. 

In addition, if (x) we issue additional shares of Class A common stock or equity-linked securities for capital raising purposes in
connection with the closing of our initial business at an issue price or effective issue price of less than $9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by our board
of directors and, in the case of any such issuance to our sponsor or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates, as applicable, prior to such issuance), or the Newly Issued Price,
(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 volume weighted average trading price of our Class A common stock during the 10 trading day period starting on the trading day prior to the day on which we consummate our initial
business combination, or the Market Value, is below $9.20 per share, 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, and the $18.00 per
share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price. 

In case of any reclassification or reorganization of the outstanding shares of Class A common stock (other than those described above or
that solely affects the par value of such shares of Class A common stock), 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 outstanding shares of Class A common stock), 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 shares of our Class A common stock immediately theretofore purchasable and
receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a
dissolution following any such sale or transfer, that the holder of the warrants would have received if such holder had exercised their warrants immediately prior to such event. If less than 70% of the consideration receivable by the holders of
Class A common stock in such a transaction is payable in the form of Class A common stock 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 value (as defined in the warrant agreement) of the warrant. 

The warrants were issued in registered form under the 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 to cure any ambiguity or correct any defective provision, but requires the approval by the holders of at least 65%
of the then outstanding public warrants to make any change that adversely affects the interests of the registered holders of public 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 Class A common stock and any voting rights until they exercise their warrants and receive shares of Class A common
stock. After the issuance of shares of Class A common stock upon exercise of the warrants, each holder will be entitled to one (1) vote for each share held of record on all matters to be voted on by stockholders. 

Warrants may be exercised only for a whole number of shares of Class A common stock. No fractional shares will be issued upon exercise of
the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round down to the nearest whole number of shares of Class A common stock to be issued to the
warrant holder. 
 Private Placement Warrants 

The private placement warrants (including the Class A common stock issuable upon exercise of the private placement warrants) are not
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 or its permitted transferees. Otherwise, the private placement warrants have terms and provisions that are identical to those of the public warrants. If the private placement
warrants are held by holders other than our 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 public warrants. 

 If holders of the private placement warrants elect to exercise them on a cashless basis,
they would pay the exercise price by surrendering warrants for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common stock underlying the
warrants, multiplied by the difference between the exercise price of the warrants and the “fair market value” (defined below) by (y) the fair market value. The “fair market value” means the average reported last sale price
of the Class A common stock 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 private placement warrants will become worthless if we do not consummate our initial business combination. 

Amendments to our Amended and Restated Certificate of Incorporation 

Our amended and restated certificate of incorporation contains certain requirements and restrictions that apply to us until the completion of
our initial business combination. These provisions (other than amendments relating to the appointment of directors, which require the approval of holders of a majority of at least 90% of our common stock voting in a stockholder meeting) cannot be
amended without the approval of the holders of at least 65% of our common stock. Our sponsor, who beneficially owns 20% of our common stock, will participate in any vote to amend our amended and restated certificate of incorporation and will have
the discretion to vote in any manner it chooses. Specifically, our amended and restated certificate of incorporation will provide, among other things, that: 
  

	 	•	 	 if we are unable to complete our initial business combination by November 5, 2021, we will: (i) cease
all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, subject to lawfully available funds therefor, redeem 100% of 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 (which interest shall be net of taxes payable and less 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 stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law; and (iii) as promptly
as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for claims of creditors
and the requirements of other applicable law; 

  

	 	•	 	 prior to our initial business combination, we may not issue additional shares of capital stock that would entitle
the holders thereof to: (i) receive funds from the trust account; or (ii) vote on any 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 executive officers, we are not prohibited from doing so. In the event we enter into such a transaction, we, or a committee of independent and disinterested directors, will obtain an opinion from an independent
investment banking firm that is a member of FINRA or from an independent accounting firm that such a business combination is fair to our company from a financial point of view; 

 

	 	•	 	 if a stockholder vote on our initial business combination is not required by law or Nasdaq and we do not decide
to hold a stockholder vote for business or other reasons, we must 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 consummating our initial business combination which contain substantially the same financial and other information about our initial business combination and the redemption rights as is required under Regulation 14A of the Exchange Act;

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

  

	 	•	 	 if our stockholders approve an amendment to our amended and restated certificate of incorporation that would
affect the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our business combination by November 5, 2021, we will provide our public stockholders with the opportunity to redeem all or a portion of
their shares of Class A common stock 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 franchise and income taxes, divided by the number of then outstanding public shares; and 

 

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

 In addition, our amended and restated certificate of incorporation will provide that under no
circumstances will we redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001 or less than such greater net tangible asset or cash requirement which may be contained in the agreement relating to the
initial business combination. 
 Certain Anti-Takeover Provisions of Delaware Law 

We are subject to the provisions of Section 203 of the DGCL regulating corporate takeovers. This statute prevents certain Delaware
corporations, under certain circumstances, from engaging in a “business combination” with: 
  

	 	•	 	 a stockholder who owns 15% or more of our outstanding voting stock (otherwise known as an “interested
stockholder”); 

  

	 	•	 	 an affiliate of an interested stockholder; or 

 

	 	•	 	 an associate of an interested stockholder, for three years following the date that the stockholder became an
interested stockholder. 

 A “business combination” includes a merger or sale of more than 10% of our assets.
However, the above provisions of Section 203 do not apply if: 
  

	 	•	 	 our board of directors approves the transaction that made the stockholder an “interested stockholder,”
prior to the date of the transaction; 

  

	 	•	 	 after the completion of the transaction that resulted in the stockholder becoming an interested stockholder, that
stockholder owned at least 85% of our voting stock outstanding at the time the transaction commenced, other than statutorily excluded shares of common stock; or 

 

	 	•	 	 on or subsequent to the date of the transaction, the business combination is approved by our board of directors
and authorized at a meeting of our stockholders, and not by written consent, by an affirmative vote of at least two-thirds of the outstanding voting stock not owned by the interested stockholder.

 Exclusive Forum Selection 

Our amended and restated certificate of incorporation requires, subject to limited exceptions, that derivative actions brought in our name,
actions against directors, officers and employees for breach of fiduciary duty and other similar actions may be brought only in the Court of Chancery in the State of Delaware, except any action (A) as to which the Court of Chancery in the State
of Delaware determines that there is an indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery within ten days following such
determination), (B) which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery, (C) for which the Court of Chancery does not have subject matter jurisdiction or (D) arising under the Securities Act,
as to which the Court of Chancery and the federal district court for the District of Delaware shall have concurrent jurisdiction. If an action is brought outside of the State of Delaware, the stockholder bringing the suit will be deemed to have
consented to service of process on such stockholder’s counsel. Although we believe this provision benefits us by providing increased consistency in the application of Delaware law in the types of lawsuits to which it applies, a court may
determine that this provision is inapplicable (including as a result of the above exclusions) or unenforceable, and to the extent it is enforceable, the provision may have the effect of discouraging lawsuits against our directors and officers,
although our stockholders will not be deemed to have waived our compliance with federal securities laws and the rules and regulations thereunder. 

Notwithstanding the foregoing, our amended and restated certificate of incorporation will provide that the exclusive forum provision will not
apply to suits brought to enforce a duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits
brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder.

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