Document:

Exhibit 10.6

 

REGISTRATION RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of [•], 2021, by and between Galata
Acquisition Corp., a Cayman Islands exempted company (the “Company”), and the undersigned party listed under the heading
 “Holder” on the signature page hereto (such party, together with any person or entity who hereafter becomes a party to
this Agreement pursuant to Section 6.2 of this Agreement, a “Holder” and collectively, the “Holders”).

 

WHEREAS,
the Sponsor (as defined below) and the other Holders own an aggregate of 3,593,750 of the Company’s Class B Shares (as defined
below) (the “Founder Shares”), which include an aggregate of up to 468,750 shares subject to forfeiture to the extent
that the underwriters in the Company’s initial public offering do not exercise their option to purchase additional units;

 

WHEREAS,
the Sponsor agreed to purchase 4,000,000 warrants (or 4,375,000 warrants if the underwriters in the Company’s initial public offering
exercise in full their option to purchase additional units), each such warrant entitling the holder thereof to purchase one Class A
Share (as defined below) at a price of $11.50 per share, subject to adjustment (the “Private Placement Warrants”),
substantially simultaneously with the consummation of the Company’s initial public offering;

 

WHEREAS,
in order to finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined below)
the Sponsor, an affiliate of the Sponsor or certain of the Company’s officers and directors may loan to the Company funds, of which
up to $1,500,000 of such loans may be convertible into warrants, each such warrant entitling the holder thereof to purchase one Class A
Share at a price of $11.50 per share, subject to adjustment (the “Working Capital Loan Warrants”); and

 

WHEREAS,
the Holders and the Company desire to enter into this Agreement to provide the Holders with certain rights relating to the registration
of the Registrable Securities (as defined herein).

 

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

 

1.            DEFINITIONS.
The following capitalized terms used herein have the following meanings:

 

“Adverse Disclosure” is defined
in Section 3.6.

 

“Agreement” means this Agreement,
as amended, restated, supplemented, or otherwise modified from time to time.

 

“Business Combination” means
effecting a merger, share exchange, asset acquisition, share purchase, or reorganization or engaging in any other similar business
combination with one or more businesses or entities.

 

“Class A Shares” means
Class A ordinary shares of the Company, par value $0.0001 per share.

 

“Class B Shares” means
Class B ordinary shares of the Company, par value $0.0001 per share.

 

“Commission” means the U.S.
Securities and Exchange Commission, or any other federal agency then administering the Securities Act or the Exchange Act.

 

“Company” is defined in the
preamble to this Agreement.

 

“Demand Registration” is defined
in Section 2.1.1.

 

“Demanding Holder” is defined
in Section 2.1.1.

 

“Exchange Act” means the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, all as the same shall be
in effect at the time.

 

    

     

    

 

“Form S-3” is defined in
Section 2.3.

 

“Founder Shares” is defined
in the recitals to this Agreement.

 

“Holder” is defined in the preamble.

 

“Holder Indemnified Party” is
defined in Section 4.1.

 

“Indemnified Party” is defined
in Section 4.3.

 

“Indemnifying Party” is defined
in Section 4.3.

 

“Maximum Number of Securities”
is defined in Section 2.1.4.

 

“Misstatement” is defined in
Section 3.1.13.

 

“Notices” is defined in Section 6.3.

 

“Piggy-Back Registration” is
defined in Section 2.2.1.

 

“Private Placement Warrants”
is defined in the recitals to this Agreement.

 

“Pro Rata” is defined in Section 2.1.4.

 

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

 

“Registrable Securities” means
(i) the Founder Shares, (ii) the Private Placement Warrants (and the underlying Class A Shares), and (iii) any equity
securities (including Class A Shares issued or issuable upon the exercise of any such equity securities) of the Company issuable
upon conversion of any Working Capital Loan Warrants. Registrable Securities include any warrants, shares of capital stock or other securities
of the Company issued as a dividend or other distribution with respect to or in exchange for or in replacement of such Founder Shares,
Private Placement Warrants (and underlying Class A Shares) and securities issuable upon conversion of the Working Capital Loan Warrants.
As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when: (a) a Registration Statement
(as defined below) with respect to the sale of such securities shall have become effective under the Securities Act and such securities
shall have been sold, transferred, disposed of or exchanged in accordance with and pursuant to such Registration Statement; (b) such
securities shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer
shall have been delivered by the Company and subsequent public distribution of them shall not require Registration under the Securities
Act; (c) such securities shall have ceased to be outstanding; or (d) the Registrable Securities are freely saleable under Rule 144
without volume limitations.

 

“Registration Statement” means
a registration statement filed by the Company with the Commission in compliance with the Securities Act and the rules and regulations
promulgated thereunder for a public offering and sale or resale of equity securities, or securities or other obligations exercisable or
exchangeable for, or convertible into, equity securities (other than a registration statement on Form S-4 or Form S-8, or their
successors, or any registration statement covering only securities proposed to be issued in exchange for securities or assets of another
entity).

 

“Securities Act” means the Securities
Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder, all as the same shall be in effect
at the time.

 

“Sponsor” means Galata Acquisition
Sponsor, LLC, a Delaware limited liability company.

 

“Underwriter” means a securities
dealer who purchases any Registrable Securities as principal in an underwritten offering and not as part of such dealer’s market-making
activities.

 

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“Working Capital Loan Warrants”
is defined in the recitals to this Agreement.

 

2.            REGISTRATION
RIGHTS.

 

2.1          Demand
Registration.

 

2.1.1            Request
for Registration. Subject to the provisions of subsection 2.1.4 hereof, at any time and from time to time on or after the
date that the Company consummates a Business Combination, the Holders of a majority-in-interest of the then issued and outstanding Registrable
Securities may make a written demand for Registration under the Securities Act of all or part of their Registrable Securities (a “Demand
Registration”). Any demand for a Demand Registration shall specify the number of Registrable Securities proposed to be included
in such Registration and the intended method(s) of distribution thereof. The Company will within ten (10) days of the Company’s
receipt of the Demand Registration notify all Holders of Registrable Securities of the demand, and each Holder who wishes to include
all or a portion of such Holder’s Registrable Securities in a Registration pursuant to the Demand Registration (each such Holder
including shares of Registrable Securities in such Registration, a “Demanding Holder”) shall so notify the Company
within fifteen (15) days after the receipt by the Holder of the notice from the Company. Upon receipt by the Company of any such written
notice, the Demanding Holders shall be entitled to have their Registrable Securities included in the Demand Registration, subject to
Section 2.1.4 and the provisos set forth in Section 3.1.1. The Company shall not be obligated to effect more than an aggregate
of three (3) Demand Registrations under this Section 2.1.1 in respect of all Registrable Securities.

 

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

 

2.1.3            Underwritten
Offering. If a majority-in-interest of the Demanding Holders so elect and such Holders so advise the Company as part of their written
demand for a Demand Registration, the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form
of an underwritten offering. In such event, the right of any Holder to include its Registrable Securities in such Registration shall
be conditioned upon such Holder’s participation in such underwritten offering and the inclusion of such Holder’s Registrable
Securities in the underwritten offering to the extent provided herein. All Demanding Holders proposing to distribute their Registrable
Securities through such underwritten offering shall enter into an underwriting agreement in customary form with the Underwriter or Underwriters
selected for such underwritten offering by a majority-in-interest of the Demanding Holders initiating the Demand Registration.

 

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

 

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2.1.5            Demand
Registration Withdrawal. If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwritten offering
or are not entitled to include all of their Registrable Securities in any underwritten offering, such majority-in-interest of the Demanding
Holders may elect to withdraw from such Registration by giving written notice to the Company and the Underwriter or Underwriters of their
request to withdraw prior to the effectiveness of the Registration Statement filed with the Commission with respect to such Demand Registration.
If the majority-in-interest of the Demanding Holders withdraws from a proposed underwritten offering relating to a Demand Registration,
then such Registration shall not count as a Demand Registration provided for in this Section 2.1.

 

2.2          Piggy-Back
Registration.

 

2.2.1            Piggy-Back
Rights. If at any time on or after the date the Company consummates a Business Combination the Company proposes to file a Registration
Statement under the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable or
exchangeable for, or convertible into, equity securities, by the Company for its own account or for the account of shareholders of the
Company (or by the Company and by shareholders of the Company including, without limitation, pursuant to Section 2.1), other than
a Registration Statement (i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange
offer or offering of securities solely to the Company’s existing shareholders, (iii) for an offering of debt that is convertible
into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall (a) give written notice
of such proposed filing to the Holders of Registrable Securities as soon as practicable but in no event less than seven (7) days
before the anticipated filing date of such Registration Statement, which notice shall describe the amount and type of securities to be
included in such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter or Underwriters,
if any, of the offering, and (b) offer to the Holders of Registrable Securities in such notice the opportunity to register the sale
of such number of shares of Registrable Securities as such Holders may request in writing within five (5) days following receipt
of such notice (such Registration, a “Piggy-Back Registration”). The Company shall cause such Registrable Securities
to be included in such Piggy-Back Registration and shall use its best efforts to cause the managing Underwriter or Underwriters of a
proposed underwritten offering to permit the Registrable Securities requested by the Holders pursuant to this subsection 2.2.1 to be
included in a Piggy-Back Registration on the same terms and conditions as any similar securities of the Company included in such Registration
and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution
thereof. All Holders proposing to distribute their Registrable Securities through a Piggy-Back Registration that involves an Underwriter
or Underwriters shall enter into an underwriting agreement in customary form with the Underwriter or Underwriters selected for such Piggy-Back
Registration.

 

2.2.2            Reduction
of Offering. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten offering advises
the Company and the Holders of Registrable Securities in writing that the dollar amount or number of Class A Shares or other securities
which the Company desires to sell, taken together with Class A Shares or other securities, if any, as to which Registration has
been demanded pursuant to written contractual arrangements with persons other than the Holders of Registrable Securities hereunder, the
Registrable Securities as to which Registration has been requested under this Section 2.2, and the Class A Shares or other
securities, if any, as to which Registration has been requested pursuant to the written contractual piggy-back registration rights of
other shareholders of the Company, exceeds the Maximum Number of Securities, then the Company shall include in any such Registration:

 

(i)          If
the Registration is undertaken for the Company’s account: (a) first, the Class A Shares or other securities that the
Company desires to sell that can be sold without exceeding the Maximum Number of Securities; (b) second, to the extent that the
Maximum Number of Securities has not been reached under the foregoing clause (a), the Class A Shares or other securities, if any,
comprised of Registrable Securities, as to which Registration has been requested pursuant to the applicable written contractual piggy-back
registration rights of such security holders, Pro Rata, that can be sold without exceeding the Maximum Number of Securities; and (c) third,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (a) and (b), the Class A
Shares or other securities for the account of other persons that the Company is obligated to register pursuant to written contractual
piggy-back registration rights with such persons and that can be sold without exceeding the Maximum Number of Securities.

 

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(ii)         If
the Registration is a “demand” registration undertaken at the demand of persons other than the Holders, (a) first, the
Class A Shares or other securities for the account of the demanding persons that can be sold without exceeding the Maximum Number
of Securities; (b) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (a),
collectively the Class A Shares or other securities comprised of Registrable Securities, Pro Rata, as to which Registration has
been requested pursuant to the terms hereof, that can be sold without exceeding the Maximum Number of Securities; (c) third, to
the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (a) and (b), the Class A
Shares or other securities that the Company desires to sell for its own account that can be sold without exceeding the Maximum Number
of Securities; and (d) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses
(a), (b) and (c), the Class A Shares or other securities for the account of other persons that the Company is obligated to
register pursuant to written contractual arrangements with such persons, that can be sold without exceeding the Maximum Number of Securities.

 

2.2.3            Withdrawal.
Any Holder may elect to withdraw such Holder’s request for inclusion of Registrable Securities in any Piggy-Back Registration by
giving written notice to the Company of such request to withdraw prior to the effectiveness of the Registration Statement filed with
the Commission with respect to such Piggy-Back Registration. The Company (whether on its own determination or as the result of a request
for withdrawal by persons making a demand pursuant to written contractual obligations) may withdraw a Registration Statement filed with
the Commission in connection with a Piggy-Back Registration at any time prior to the effectiveness of such Registration Statement. Notwithstanding
any such withdrawal, the Company shall pay all expenses incurred by the Holders in connection with such Piggy-Back Registration as provided
in Section 3.3.

 

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

 

2.3          Registrations
on Form S-3. The Holders may at any time and from time to time, request in writing that the Company register the resale of any
or all of such Registrable Securities on Form S-3 or any similar short-form Registration Statement which may be available at such
time (“Form S-3”); provided, however, that the Company shall not be obligated to effect such request through
an underwritten offering. Upon receipt of such written request, the Company will promptly give written notice of the proposed Registration
to all other Holders, and, as soon as practicable thereafter, effect the registration of all or such portion of such Holder’s or
Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities
or other securities of the Company, if any, of any other Holder or Holders joining in such request as are specified in a written request
given within fifteen (15) days after receipt of such written notice from the Company; provided, however, that the Company shall not be
obligated to effect any such registration pursuant to this Section 2.3: (i) if Form S-3 is not available for such offering
or if the Company is not eligible to use Form S-3; or (ii) if the Holders of the Registrable Securities, together with the
holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities and
such other securities (if any) at any aggregate price to the public of less than $500,000. Registrations effected pursuant to this Section 2.3
shall not be counted as Demand Registrations effected pursuant to Section 2.1.

 

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3.            REGISTRATION
PROCEDURES.

 

3.1            Filings;
Information. Whenever the Company is required to effect a Registration of any Registrable Securities pursuant to Section 2,
the Company shall use its best efforts to effect the registration and sale of such Registrable Securities in accordance with the intended
method(s) of distribution thereof as expeditiously as practicable, and in connection with any such request:

 

3.1.1            Filing
Registration Statement. The Company shall use its best efforts to, as expeditiously as possible after receipt of a request for a
Demand Registration pursuant to Section 2.1, prepare and file with the Commission a Registration Statement on any form for which
the Company then qualifies and which counsel for the Company shall deem appropriate and which form shall be available for the sale of
all Registrable Securities to be registered thereunder in accordance with the intended method(s) of distribution thereof, and shall
use its best efforts to cause such Registration Statement to become and remain effective for the period required by Section 3.1.3;
provided, however, that the Company shall have the right to defer any Demand Registration for up to thirty (30) days, and any Piggy-Back
Registration for such period as may be applicable to deferment of any demand registration to which such Piggy-Back Registration relates,
in each case if the Company shall furnish to the Holders a certificate signed by the Chairman of the Board of Directors of the Company
stating that, in the good faith judgment of the Board of Directors of the Company, it would be materially detrimental to the Company
and its shareholders for such Registration Statement to be effected at such time; provided further, however, that the Company shall not
have the right to exercise the right set forth in the immediately preceding proviso more than once in any 12-month period in respect
of a Demand Registration hereunder.

 

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

 

3.1.3            Amendments
and Supplements. The Company shall prepare and file with the Commission such amendments, including post-effective amendments, and
supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep such Registration
Statement effective and in compliance with the provisions of the Securities Act until all Registrable Securities and other securities
covered by such Registration Statement have been disposed of in accordance with the intended method(s) of distribution set forth
in such Registration Statement (which period shall not exceed the sum of one hundred eighty (180) days plus any period during which any
such disposition is interfered with by any stop order or injunction of the Commission or any governmental agency or court) or such securities
have been withdrawn.

 

3.1.4            Notification.
After the filing of a Registration Statement, the Company shall promptly, and in no event more than two (2) business days after
such filing, notify the Holders whose Registrable Securities are included in such Registration Statement of such filing, and shall further
notify such Holders promptly and confirm such advice in writing in all events within two (2) business days of the occurrence of
any of the following: (i) when such Registration Statement becomes effective; (ii) when any post-effective amendment to such
Registration Statement becomes effective; (iii) the issuance or threatened issuance by the Commission of any stop order (and the
Company shall take all actions required to prevent the entry of such stop order or to remove it if entered); and (iv) any request
by the Commission for any amendment or supplement to such Registration Statement or any prospectus relating thereto or for additional
information or of the occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter
delivered to the purchasers of the securities covered by such Registration Statement, such prospectus will not contain an untrue statement
of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading,
and promptly make available to the Holders whose Registrable Securities are included in such Registration Statement any such supplement
or amendment; except that before filing with the Commission a Registration Statement or prospectus or any amendment or supplement thereto,
including documents incorporated by reference, the Company shall furnish to the Holders whose Registrable Securities are included in
such Registration Statement and to the legal counsel for any such Holders, copies of all such documents proposed to be filed sufficiently
in advance of filing to provide such Holders and legal counsel with a reasonable opportunity to review such documents and comment thereon,
and the Company shall not file any Registration Statement or prospectus or amendment or supplement thereto, including documents incorporated
by reference, to which such Holders or their legal counsel shall reasonably object.

 

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

 

3.1.6            Agreements
for Disposition. The Company shall enter into customary agreements (including, if applicable, an underwriting agreement in customary
form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities.
The representations, warranties and covenants of the Company in any underwriting agreement which are made to or for the benefit of any
Underwriters, to the extent applicable, shall also be made to and for the benefit of the Holders whose Registrable Securities are included
in such Registration Statement. No Holder whose Registrable Securities are included in such Registration Statement shall be required
to make any representations or warranties in the underwriting agreement except, if applicable, with respect to such Holder’s organization,
good standing, authority, title to Registrable Securities, lack of conflict of such sale with such Holder’s material agreements
and organizational documents, and with respect to written information relating to such Holder that such Holder has furnished in writing
expressly for inclusion in such Registration Statement.

 

3.1.7            Cooperation.
The principal executive officer of the Company, the principal financial officer of the Company, the principal accounting officer of the
Company and all other officers and members of the management of the Company shall cooperate fully in any offering of Registrable Securities
hereunder, which cooperation shall include, without limitation, the preparation of the Registration Statement with respect to such offering
and all other offering materials and related documents, and participation in meetings with Underwriters, attorneys, accountants and potential
investors.

 

3.1.8            Records.
The Company shall make available for inspection by the Holders whose Registrable Securities are included in such Registration Statement,
any Underwriter participating in any disposition pursuant to such Registration Statement and any attorney, accountant or other professional
retained by any Holder whose Registrable Securities are included in such Registration Statement or any Underwriter, all financial and
other records, pertinent corporate documents and properties of the Company, as shall be reasonably necessary to enable them to exercise
their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information reasonably
requested by any of them in connection with such Registration Statement.

 

3.1.9            Opinions
and Comfort Letters. (i) The Company shall, on the date the Registrable Securities are delivered for sale pursuant to a Registration,
obtain an opinion and negative assurance letter, dated such date, of counsel representing the Company for the purposes of such Registration,
addressed to the Holders thereof, the placement agent or sales agent, if any, and the Underwriters, if any, covering such legal matters
with respect to the Registration in respect of which such opinion is being given as such Holders, placement agent, sales agent, or Underwriter
may reasonably request and as are customarily included in such opinions and negative assurance letters, and reasonably satisfactory to
a majority-in-interest of the participating Holders. (ii) The Company shall obtain a “cold comfort” letter from the
Company’s independent registered public accountants in the event that a Registration is an underwritten offering, in customary
form and covering such matters of the type customarily covered by “cold comfort” letters as the managing Underwriter may
reasonably request, and reasonably satisfactory to a majority-in-interest of the participating Holders.

 

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3.1.10          Earnings
Statement. The Company shall comply with all applicable rules and regulations of the Commission and the Securities Act, and
make available to its shareholders, as soon as practicable, an earnings statement covering period of at least twelve (12) months beginning
with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement, which earnings
statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder.

 

3.1.11          Listing.
The Company shall use its best efforts to cause all Registrable Securities included in any Registration to be listed on such exchanges
or otherwise designated for trading in the same manner as similar securities issued by the Company are then listed or designated or,
if no such similar securities are then listed or designated, in a manner satisfactory to the Holders of a majority of the Registrable
Securities included in such Registration.

 

3.1.12          Transfer
Agent. The Company shall provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities
no later than the effective date of the Registration Statement.

 

3.1.13          Misstatements.
The Company shall notify the Holders at any time when a prospectus relating to such Registration Statement is required to be delivered
under the Securities Act, of the happening of any event as a result of which the prospectus included in such Registration Statement,
as then in effect, includes an untrue statement of a material fact or an omission to state a material fact required to be stated in a
Registration Statement or prospectus, or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances
under which they were made) not misleading (a “Misstatement”), and then to correct such Misstatement.

 

3.1.14          Road
Show. If the Registration involves the registration of Registrable Securities involving gross proceeds in excess of $25,000,000,
the Company shall use its reasonable efforts to make available senior executives of the Company to participate in customary “road
show” presentations that may be reasonably requested by the Underwriter in any underwritten offering.

 

3.1.15          FINRA.
The Company shall cooperate with each Underwriter participating in the disposition of such Registrable Securities and Underwriters’
counsel in connection with any filings required to be made with The Financial Industry Regulatory Authority, Inc., including using
commercially reasonable efforts to obtain pre-clearance and pre-approval of the Registration Statement and applicable prospectus upon
filing with the Commission.

 

3.1.16          Certificated
Securities. The Company shall, in the case of certificated Registrable Securities, cooperate with the Holders and the managing Underwriters
to facilitate the timely preparation and delivery of certificates (not bearing any legends) representing Registrable Securities to be
sold after receiving written representations from the Holders participating in such offering that the Registrable Securities represented
by the certificates so delivered by such Holders will be transferred in accordance with the Registration Statement, and enable such Registrable
Securities to be in such denominations and registered in such names as such Holders or managing Underwriters may reasonably request at
least two business days prior to any sale of such Registrable Securities.

 

3.1.17          Further
Assurances. The Company shall otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably
be requested by the Holders, in connection with such Registration.

 

3.2          Obligation
to Suspend Distribution. Upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.1.4(iv),
or, in the case of a resale Registration, including on Form S-3 pursuant to Section 2.3 hereof, upon any suspension by the
Company, pursuant to a written insider trading compliance program adopted by the Company’s Board of Directors, of the ability of
all “insiders” covered by such program to transact in the Company’s securities because of the existence of material
non-public information, each Holder whose Registrable Securities are included in any Registration shall immediately discontinue disposition
of such Registrable Securities pursuant to the Registration Statement covering such Registrable Securities until such Holder receives
the supplemented or amended prospectus contemplated by Section 3.1.4(iv) or the restriction on the ability of “insiders”
to transact in the Company’s securities is removed, as applicable, and, if so directed by the Company, each such Holder will deliver
to the Company all copies, other than permanent file copies then in such Holder’s possession, of the most recent prospectus covering
such Registrable Securities at the time of receipt of such notice.

 

    8

     

    

 

3.3          Registration
Expenses. The Company shall bear all costs and expenses incurred in connection with any Demand Registration pursuant to Section 2.1,
any Piggy-Back Registration pursuant to Section 2.2, and any Registration on Form S-3 effected pursuant to Section 2.3,
and all expenses incurred in performing or complying with its other obligations under this Agreement, whether or not the Registration
Statement becomes effective, including, without limitation: (i) all Registration and filing fees and fees of any securities exchange
on which Registrable Securities are then listed; (ii) fees and expenses of compliance with securities or “blue sky”
laws (including fees and disbursements of counsel for the Underwriters in connection with blue sky qualifications of the Registrable
Securities); (iii) printing, messenger, telephone and delivery expenses; (iv) the Company’s internal expenses (including,
without limitation, all salaries and expenses of its officers and employees); (v) the fees and expenses incurred in connection with
the listing of the Registrable Securities as required by Section 3.1.11; (vi) Financial Industry Regulatory Authority, Inc.
fees; (vii) fees and disbursements of counsel for the Company and fees and expenses for independent certified public accountants
retained by the Company (including the expenses or costs associated with the delivery of any opinions or comfort letters requested pursuant
to Section 3.1.9); (viii) the reasonable fees and expenses of any special experts retained by the Company in connection with
such Registration and (ix) the reasonable fees and expenses of one legal counsel selected by the Holders of a majority-in-interest
of the Registrable Securities included in such Registration. The Company shall have no obligation to pay any underwriting discounts or
selling commissions attributable to the Registrable Securities being sold by the Holders thereof, which underwriting discounts or selling
commissions shall be borne by such Holders. Additionally, in an underwritten offering, all selling shareholders and the Company shall
bear the expenses of the Underwriter(s) pro rata in proportion to the respective amount of shares each is selling in such offering.

 

3.4          Information.
The Holders shall provide such information as may reasonably be requested by the Company, or the managing Underwriter, if any, in connection
with the preparation of any Registration Statement, including amendments and supplements thereto, in order to effect the Registration
of any Registrable Securities under the Securities Act pursuant to Section 2 and in connection with the Company’s obligation
to comply with Federal and applicable state securities laws.

 

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

 

3.6          Suspension
of Sales; Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement or prospectus contains
a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies of
a supplemented or amended prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and
file such supplement or amendment as soon as practicable after the time of such notice), or until it is advised in writing by the Company
that the use of the prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in respect
of any Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such Registration
the statement of financial statements that are unavailable to the Company for reasons beyond the Company’s control, the Company
may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of,
such Registration Statement for the shortest period of time, but in no event more than thirty (30) days, determined in good faith by
the Company to be necessary for such purpose. In the event the Company exercises its rights under the preceding sentence, the Holders
agree to suspend, immediately upon their receipt of the notice referred to above, their use of the prospectus relating to any Registration
in connection with any sale or offer to sell Registrable Securities. The Company shall immediately notify the Holders of the expiration
of any period during which it exercised its rights under this Section 3.6. “Adverse Disclosure” shall mean any public
disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief Executive Officer or principal
financial officer of the Company, after consultation with counsel to the Company, (i) would be required to be made in any Registration
Statement or prospectus in order for the applicable Registration Statement or prospectus not to contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements contained therein (in the case of any prospectus and any preliminary
prospectus, in the light of the circumstances under which they were made) not misleading, (ii) would not be required to be made
at such time if the Registration Statement were not being filed, and (iii) the Company has a bona fide business purpose for not
making such information public.

 

    9

     

    

 

4.            INDEMNIFICATION
AND CONTRIBUTION.

 

4.1          Indemnification
by the Company. The Company agrees to indemnify and hold harmless each Holder, and each of their respective officers, employees,
affiliates, directors, partners, members, attorneys and agents, and each person, if any, who controls such Holder (within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act) (each, a “Holder Indemnified Party”),
from and against any expenses, losses, judgments, claims, damages or liabilities, whether joint or several, arising out of or based upon
any untrue statement (or allegedly untrue statement) of a material fact contained in any Registration Statement under which the sale
of such Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus
contained in the Registration Statement, or any amendment or supplement to such Registration Statement, or arising out of or based upon
any omission (or alleged omission) to state a material fact required to be stated therein or necessary to make the statements therein
not misleading, or any violation by the Company of the Securities Act or any rule or regulation promulgated thereunder applicable
to the Company and relating to action or inaction required of the Company in connection with any such Registration; and the Company shall
promptly reimburse the Holder Indemnified Party for any legal and any other expenses reasonably incurred by such Holder Indemnified Party
in connection with investigating and defending any such expense, loss, judgment, claim, damage, liability or action; provided, however,
that the Company will not be liable in any such case to the extent that any such expense, loss, claim, damage or liability arises out
of or is based upon any untrue statement or allegedly untrue statement or omission or alleged omission made in such Registration Statement,
preliminary prospectus, final prospectus, or summary prospectus, or any such amendment or supplement, in reliance upon and in conformity
with information furnished to the Company, in writing, by such selling Holder expressly for use therein. The Company also shall indemnify
any Underwriter of the Registrable Securities, their officers, affiliates, directors, partners, members and agents and each person who
controls such Underwriter on substantially the same basis as that of the indemnification provided above in this Section 4.1.

 

4.2          Indemnification
by Holders of Registrable Securities. Each selling Holder will, in the event that any Registration is being effected under the Securities
Act pursuant to this Agreement of any Registrable Securities held by such selling Holder, indemnify and hold harmless the Company, each
of its directors and officers and each Underwriter (if any), and each other selling Holder and each other person, if any, who controls
another selling Holder or such Underwriter within the meaning of the Securities Act, against any losses, claims, judgments, damages or
liabilities, whether joint or several, insofar as such losses, claims, judgments, damages or liabilities (or actions in respect thereof)
arise out of or are based upon any untrue statement or allegedly untrue statement of a material fact contained in any Registration Statement
under which the sale of such Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus
or summary prospectus contained in the Registration Statement, or any amendment or supplement to the Registration Statement, or arise
out of or are based upon any omission or the alleged omission to state a material fact required to be stated therein or necessary to
make the statement therein not misleading, if the statement or omission was made in reliance upon and in conformity with information
furnished in writing to the Company by such selling Holder expressly for use therein, and shall reimburse the Company, its directors
and officers, and each other selling Holder or controlling person for any legal or other expenses reasonably incurred by any of them
in connection with investigation or defending any such loss, claim, damage, liability or action. Each selling Holder’s indemnification
obligations hereunder shall be several and not joint and shall be limited to the amount of any net proceeds actually received by such
selling Holder. Each selling Holder shall indemnify any Underwriter of the Registrable Securities, their officers, affiliates, directors,
partners, members and agents and each person who controls such Underwriter to the same extent as provided in the foregoing with respect
to indemnification of the Company.

 

4.3          Conduct
of Indemnification Proceedings. Promptly after receipt by any person of any notice of any loss, claim, damage or liability or any
action in respect of which indemnity may be sought pursuant to Section 4.1 or 4.2, such person (the “Indemnified Party”)
shall, if a claim in respect thereof is to be made against any other person for indemnification hereunder, notify such other person (the
 “Indemnifying Party”) in writing of the loss, claim, judgment, damage, liability or action; provided, however, that
the failure by the Indemnified Party to notify the Indemnifying Party shall not relieve the Indemnifying Party from any liability which
the Indemnifying Party may have to such Indemnified Party hereunder, except and solely to the extent the Indemnifying Party is actually
prejudiced by such failure. If the Indemnified Party is seeking indemnification with respect to any claim or action brought against the
Indemnified Party, then the Indemnifying Party shall be entitled to participate in such claim or action, and, to the extent that it wishes,
jointly with all other Indemnifying Parties, to assume control of the defense thereof with counsel satisfactory to the Indemnified Party.
After notice from the Indemnifying Party to the Indemnified Party of its election to assume control of the defense of such claim or action,
the Indemnifying Party shall not be liable to the Indemnified Party for any legal or other expenses subsequently incurred by the Indemnified
Party in connection with the defense thereof other than reasonable costs of investigation; provided, however, that in any action in which
both the Indemnified Party and the Indemnifying Party are named as defendants, the Indemnified Party shall have the right to employ separate
counsel (but no more than one such separate counsel) to represent the Indemnified Party and its controlling persons who may be subject
to liability arising out of any claim in respect of which indemnity may be sought by the Indemnified Party against the Indemnifying Party,
with the fees and expenses of such counsel to be paid by such Indemnifying Party if, based upon the written opinion of counsel of such
Indemnified Party, representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests
between them. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, consent to entry of judgment or
effect any settlement of any claim or pending or threatened proceeding in respect of which the Indemnified Party is or could have been
a party and indemnity could have been sought hereunder by such Indemnified Party, unless such judgment or settlement includes an unconditional
release of such Indemnified Party from all liability arising out of such claim or proceeding.

 

    10

     

    

 

4.4          Contribution.

 

4.4.1            If
the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in respect of any
loss, claim, damage, liability or action referred to herein, then each such Indemnifying Party, in lieu of indemnifying such Indemnified
Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss, claim, damage, liability or
action in such proportion as is appropriate to reflect the relative fault of the Indemnified Parties and the Indemnifying Parties in
connection with the actions or omissions which resulted in such loss, claim, damage, liability or action, as well as any other relevant
equitable considerations. The relative fault of any Indemnified Party and any Indemnifying Party shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by such Indemnified Party or such Indemnifying Party and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission.

 

4.4.2            The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.4 were determined by pro
rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately
preceding Section 4.4.1.

 

4.4.3            The
amount paid or payable by an Indemnified Party as a result of any loss, claim, damage, liability or action referred to in the immediately
preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such
Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 4.4,
no Holder shall be required to contribute any amount in excess of the dollar amount of the net proceeds (after payment of any underwriting
fees, discounts, commissions or taxes) actually received by such Holder from the sale of Registrable Securities which gave rise to such
contribution obligation. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.

 

4.5          Survival.
The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or
on behalf of the Indemnified Party or any officer, director or controlling person of such Indemnified Party and shall survive the transfer
of securities.

 

5.            RULE
144.

 

5.1          Rule 144.
The Company covenants that it shall file any reports required to be filed by it under the Securities Act and the Exchange Act and shall
take such further action as the Holders may reasonably request, all to the extent required from time to time to enable such Holders to
sell Registrable Securities without Registration under the Securities Act within the limitation of the exemptions provided by Rule 144
under the Securities Act, as such rules may be amended from time to time, or any similar rule or regulation hereafter adopted
by the Commission.

 

    11

     

    

 

6.            MISCELLANEOUS.

 

6.1          Other
Registration Rights. The Company represents and warrants that no person, other than the Holders, has any right to require the Company
to register any shares in the capital of the Company for sale or to include shares in the capital of the Company in any Registration
filed by the Company for the sale of shares for its own account or for the account of any other person.

 

6.2          Assignment;
No Third Party Beneficiaries. This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned
or delegated by the Company in whole or in part. This Agreement and the rights, duties and obligations of the Holders hereunder may not
be freely assigned or delegated by such Holder except in conjunction with and to the extent of any transfer of Registrable Securities
by any such Holder. This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties,
to the permitted assigns of the Holders or of any assignee of the Holders. This Agreement is not intended to confer any rights or benefits
on any persons that are not party hereto other than as expressly set forth in Article 4 and this Section 6.2. No assignment
by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company unless
and until the Company shall have received (i) written notice of such assignment and (ii) the written agreement of the assignee,
in a form reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may be accomplished
by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made other than as provided in this Section 6.2
shall be null and void.

 

6.3          Notices.
All notices, demands, requests, consents, approvals or other communications (collectively, “Notices”) required or
permitted to be given hereunder or which are given with respect to this Agreement shall be in writing and shall be personally served,
delivered by reputable air courier service with charges prepaid, or transmitted by hand delivery or electronic mail, addressed as set
forth below, or to such other address as such party shall have specified most recently by written notice. Notice shall be deemed given
on the date of service or transmission if personally served; provided, that if such service or transmission is not on a business day
or is after normal business hours, then such notice shall be deemed given on the next business day. Notice otherwise sent as provided
herein shall be deemed given on the next business day following timely delivery of such notice to a reputable air courier service with
an order for next-day delivery.

 

To the Company:

 

Galata Acquisition Corp. 

2001 S Street NW, Suite 320 

Washington, DC 20009

Attention: Kemal Kaya, Chief Executive Officer 

Email: s.kemalkaya@gmail.com

 

with a copy to:

 

Greenberg Traurig, LLP

1750 Tysons Boulevard 

McLean, VA 22102

Attention: Jason T. Simon, Esq. and Yangyang Jia, Esq. 

Email: simonj@gtlaw.com and jiay@gtlaw.com

 

To a Holder, to the address set forth below such
Holder’s name on Exhibit A hereto.

 

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

 

    12

     

    

 

6.5          Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which taken together shall
constitute one and the same instrument.

 

6.6          Entire
Agreement. This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments delivered pursuant
hereto and thereto) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede all prior
and contemporaneous agreements, representations, understandings, negotiations and discussions between the parties, whether oral or written.

 

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

 

6.8          Titles
and Headings. Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction of
any provision of this Agreement.

 

6.9          Waivers
and Extensions. Any party to this Agreement may waive any right, breach or default which such party has the right to waive, provided,
however, that such waiver will not be effective against the waiving party unless it is in writing, is signed by such party, and specifically
refers to this Agreement. Waivers may be made in advance or after the right waived has arisen or the breach or default waived has occurred.
Any waiver may be conditional. No waiver of any breach of any agreement or provision herein contained shall be deemed a waiver of any
preceding or succeeding breach thereof nor of any other agreement or provision herein contained. No waiver or extension of time for performance
of any obligations or acts shall be deemed a waiver or extension of the time for performance of any other obligations or acts.

 

6.10        Remedies
Cumulative. In the event that the Company fails to observe or perform any covenant or agreement to be observed or performed under
this Agreement, the Holders may proceed to protect and enforce its rights by suit in equity or action at law, whether for specific performance
of any term contained in this Agreement or for an injunction against the breach of any such term or in aid of the exercise of any power
granted in this Agreement or to enforce any other legal or equitable right, or to take any one or more of such actions, without being
required to post a bond. None of the rights, powers or remedies conferred under this Agreement shall be mutually exclusive, and each
such right, power or remedy shall be cumulative and in addition to any other right, power or remedy, whether conferred by this Agreement
or now or hereafter available at law, in equity, by statute or otherwise.

 

6.11        Governing
Law. This Agreement shall be governed by, interpreted under, and construed in accordance with the internal laws of the State of New
York applicable to agreements made and to be performed within the State of New York, without giving effect to any choice-of-law provisions
thereof that would compel the application of the substantive laws of any other jurisdiction.

 

6.12        Waiver
of Trial by Jury. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT, COUNTERCLAIM
OR OTHER PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF, CONNECTED WITH OR RELATING TO THIS AGREEMENT, THE
TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACTIONS OF THE HOLDER IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 

[Signature Page Follows]

 

    13

     

    

 

IN WITNESS WHEREOF, the parties have caused this
Registration Rights Agreement to be executed and delivered by their duly authorized representatives as of the date first written above.

 

	 	COMPANY:
	 	 
	 	GALATA ACQUISITION CORP.
	 	 
	 	 
	 	By:
	 	Name:
	 	Title:
	 	 
	 	 
	 	HOLDERS:
	 	 
	 	GALATA ACQUISITION SPONSOR, LLC
	 	 
	 	 
	 	By:
	 	Name:
	 	Title:
	 	 
	 	 
	 	By:
	 	Name: Adam S. Metz
	 	 
	 	 
	 	By:
	 	Name: Shelley Guiley
	 	 
	 	 
	 	By:
	 	Name: Tim Shannon

 

[Signature Page to Registration Rights Agreement]

 

    14

     

    

 

EXHIBIT A

 

Name and Address of Holders:

 

Galata Acquisition Sponsor, LLC

2001 S Street NW, Suite 320 

Washington, DC 20009 

Attention: Daniel Freifeld, President and Manager 

Email: dsf@callawaycap.com

 

Adam S. Metz 

c/o Galata Acquisition Corp. 

2001 S Street NW, Suite 320 

Washington, DC 20009 

Email:

 

Shelley Guiley 

c/o Galata Acquisition Corp. 

2001 S Street NW, Suite 320 

Washington, DC 20009 

Email:

 

Tim Shannon 

c/o Galata Acquisition Corp. 

2001 S Street NW, Suite 320 

Washington, DC 20009 

Email:Exhibit 10.7 

 

PRIVATE
PLACEMENT WARRANT PURCHASE AGREEMENT

 

THIS
PRIVATE PLACEMENT WARRANT PURCHASE AGREEMENT, dated as of [●], 2021 (as it may from time to time be amended, this “Agreement”),
is entered into by and between Galata Acquisition Corp., a Cayman Islands exempted company (the “Company”), and Galata
Acquisition Sponsor, LLC, a Cayman Islands limited liability company (the “Purchaser”).

 

WHEREAS,
the Company intends to consummate an initial public offering of the Company’s units (the “Public Offering”),
each unit consisting of one Class A ordinary share of the Company, par value $0.0001 per share (a “Share”), and
one-half of one warrant. Each whole warrant entitles the holder to purchase one Share at an exercise price of $11.50 per Share. The Purchaser
has agreed to purchase an aggregate of 4,000,000 warrants (or up to 4,375,000 warrants if the underwriters in the Public Offering exercise
in full their option to purchase additional units) (the “Private Placement Warrants”), at a price of $1.00 per warrant.
Each Private Placement Warrant entitles the holder to purchase one Share at an exercise price of $11.50 per Share, as set forth in the
Company’s Registration Statement on Form S-1 (File No. 333-254989) (the “Registration Statement”),
filed with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the
 “Securities Act”).

 

NOW
THEREFORE, in consideration of the mutual promises contained in this Agreement and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree
as follows:

 

AGREEMENT

 

Section 
1.          Authorization, Purchase and Sale; Terms of the Private Placement Warrants.

 

A.            Authorization
of the Private Placement Warrants. The Company has duly authorized the issuance and sale of the Private Placement Warrants to the
Purchaser.

 

B.            Purchase
and Sale of the Private Placement Warrants.

 

(i)            Simultaneously
with the initial closing of the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company
(the “Initial Closing Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase
from the Company, 4,000,000 Private Placement Warrants at a price of $1.00 per warrant (the “Purchase Price”) for
an aggregate purchase price of $4,000,000, which shall be paid by wire transfer of immediately available funds in accordance with the
Company’s wiring instructions. On the Initial Closing Date, upon the payment by the Purchaser of the Purchase Price, the Company
shall deliver to Purchaser a certificate evidencing the Private Placement Warrants duly registered in the Purchaser’s name or effect
such delivery in book-entry form.

 

(ii)            Simultaneously
with any additional closing of the Public Offering in connection with the exercise by the underwriters in the Public Offering of their
option to purchase additional units (an “Option Closing Date,” together with the Initial Closing Date, each a “Closing
Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, additional Private
Placement Warrants, at the Purchase Price, in such amount as is necessary to maintain funds held in the Trust Account (as defined below)
at $10.00 per unit, up to an aggregate of 375,000 additional Private Placement Warrants. On any Option Closing Date, upon the payment
by the Purchaser of the Purchase Price, the Company shall deliver to Purchaser a certificate evidencing such additional Private Placement
Warrants duly registered in the Purchaser’s name or effect such delivery in book-entry form. For the avoidance of doubt, an
Option Closing Date may occur on the same date as the Initial Closing Date.

 

C.            Terms
of the Private Placement Warrants.

 

(i)            Each
Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent,
in connection with the Public Offering (the “Warrant Agreement”).

 

     

     

    

 

(ii)            On
or before the Initial Closing Date, the Company shall enter into a registration rights agreement with the Purchaser and certain other
holders of the Class B ordinary shares of the Company, par value $0.0001 per share (the “Registration Rights Agreement”)
pursuant to which the Company will grant certain registration rights to such holders relating to such Class B ordinary shares and
the Private Placement Warrants (including the Shares underlying the Private Placement Warrants).

 

Section 
2.          Representations and Warranties of the Company. As a material inducement to the
Purchaser to enter into this Agreement and purchase the Private Placement Warrants, the Company hereby represents and warrants to the
Purchaser (which representations and warranties shall survive each Closing Date) that:

 

A.           Organization
and Corporate Power. The Company is a corporation duly organized, validly existing and in good standing as a Cayman Islands exempted
company and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be expected to have
a material adverse effect on the financial condition, operating results or assets of the Company. The Company possesses all requisite
corporate power and authority necessary to carry out the transactions contemplated by this Agreement and the Warrant Agreement.

 

B.            Authorization;
No Breach.

 

(i)            The
execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly authorized by the Company as
of the Initial Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with
its terms. Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Private
Placement Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of each
Closing Date, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability
relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or
law).

 

(ii)          The
execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private Placement
Warrants, the issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment of and compliance with the respective
terms hereof and thereof by the Company, do not and will not as of each Closing Date (a) conflict with or result in a breach of
the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security interest,
charge or encumbrance upon the Company’s capital stock or assets under, (d) result in a violation of, or (e) require
any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any court or administrative
or governmental body or agency pursuant to, the Memorandum and Articles of Association of the Company (in effect on the date hereof or
as may be amended prior to completion of the Public Offering, as applicable) or any material law, statute, rule or regulation
to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any filings
required after the date hereof under federal or state securities laws.

 

C.           Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Shares
issuable upon exercise of the Private Placement Warrants will be duly and validly issued, fully paid and nonassessable. Upon issuance
in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will have good title to the Private
Placement Warrants and the Shares issuable upon exercise of such Private Placement Warrants, free and clear of all liens, claims and
encumbrances of any kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer
restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the
Purchaser.

 

D.          Governmental
Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is required
in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the Company of any
other transactions contemplated hereby.

 

    2 

     

    

 

Section 
3.          Representations and Warranties of the Purchaser. As a material inducement to the
Company to enter into this Agreement and issue and sell the Private Placement Warrants to the Purchaser, the Purchaser hereby represents
and warrants to the Company (which representations and warranties shall survive each Closing Date) that:

 

A.          Organization
and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement.

 

B.           Authorization;
No Breach.

 

(i)           This
Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’
rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii)          The
execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser
does not and shall not as of each Closing Date conflict with or result in a breach by the Purchaser of the terms, conditions or provisions
of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.

 

C.            Investment
Representations.

 

(i)           Pursuant
to Section 1 of this Agreement, the Purchaser is acquiring the Private Placement Warrants and, upon exercise of the Private Placement
Warrants, the Shares issuable upon such exercise (collectively, the “Securities”) for the Purchaser’s own account,
for investment purposes only and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii)          The
Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D under the
Securities Act, and the Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation
D under the Securities Act.

 

(iii)         The
Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the registration
requirements of the United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and
the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein in order to determine the
availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iv)        The
Purchaser decided to enter into this Agreement not as a result of any general solicitation or general advertising within the meaning
of Rule 502(c) of Regulation D under the Securities Act.

 

(v)         The
Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials relating
to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the opportunity to
ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment in the Securities
involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an informed
investment decision with respect to the acquisition of the Securities.

 

(vi)         The
Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed on or made
any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities by the Purchaser
nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii)        The
Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or any state
securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) in a transaction subsequently registered
thereunder or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration
Rights Agreement, neither the Company nor any other person is under any obligation to register the Securities under the Securities Act
or any state securities laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Purchaser understands
that the SEC has taken the position that promoters or affiliates of a blank check company and their transferees, both before and after
an initial business combination, are deemed to be “underwriters” under the Securities Act when reselling the securities of
a blank check company. Based on that position, Rule 144 adopted pursuant to the Securities Act would not be available for resale
transactions of the Securities despite technical compliance with the requirements of such Rule, and the Securities can be resold only
through a registered offering or in reliance upon another exemption from the registration requirements of the Securities Act.

 

    3 

     

    

 

(viii)       The
Purchaser has such knowledge and experience in financial and business matters, knows of the high degree of risk associated with investments
in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an investment
in the Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated hereunder for an
indefinite period of time. The Purchaser has adequate means of providing for its current financial needs and contingencies and will have
no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities. The Purchaser can
afford a complete loss of its investment in the Securities.

 

(ix)         The
Purchaser understands that the Private Placement Warrants shall bear the legend substantially in the form set forth in the Warrant Agreement.

 

Section 
4.          Conditions of the Purchaser’s Obligations. The obligation of the Purchaser
to purchase and pay for the Private Placement Warrants is subject to the fulfillment, on or before each Closing Date, of each of the
following conditions:

 

A.          Representations
and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and correct at and as
of such Closing Date as though then made.

 

B.           Performance.
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required
to be performed or complied with by it on or before such Closing Date.

 

C.           No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered,
promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.

 

D.          Warrant
Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Purchaser.

 

Section 
5.          Conditions of the Company’s Obligations. The obligations of the Company to
the Purchaser under this Agreement are subject to the fulfillment, on or before each Closing Date, of each of the following conditions:

 

A.          Representations
and Warranties. The representations and warranties of the Purchaser contained in Section 3 shall be true and correct at and
as of such Closing Date as though then made.

 

B.           Performance.
The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are
required to be performed or complied with by the Purchaser on or before such Closing Date.

 

C.           Corporate
Consents. The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance
of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants hereunder.

 

    4 

     

    

 

D.           No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered,
promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.

 

E.           Warrant
Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Company.

 

Section 
6.          Termination. This Agreement may be terminated at any time after December 31,
2021 upon the election by either the Company or the Purchaser upon written notice to the other party if the closing of the Public Offering
does not occur prior to such date.

 

Section 
7.          Survival of Representations and Warranties. All of the representations and warranties
contained herein shall survive each Closing Date.

 

Section 
8.          Definitions. Terms used but not otherwise defined in this Agreement shall have
the meaning assigned to such terms in the registration statement on Form S-1 relating to the Public Offering that the Company has
filed with the SEC (the “Registration Statement”), under the Securities Act.

 

Section 
9.          Miscellaneous.

 

A.           Successors
and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf
of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so expressed
or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement, other than assignment
by the Purchaser to affiliates thereof (including, without limitation to one or more of its members).

 

B.           Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective
only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C.           Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than one
party, but all such counterparts taken together shall constitute one and the same agreement.

 

D.          Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive
part of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by limitation.

 

E.           Governing
Law. This Agreement shall be deemed to be a contract made under the laws of the State of New York and for all purposes shall be construed
in accordance with the internal laws of the State of New York.

 

F.           Amendments.
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by all
parties hereto.

 

G.           Trust
Waiver. Notwithstanding anything to the contrary herein, the Purchaser hereby waives any and all right, title, interest or claim
of any kind (“Claim”) related to the Private Placement Warrants or this Agreement in or to any distribution from the
trust account in which the proceeds of the Public Offering, as described in greater deal in the Registration Statement and the related
prospectus, will be deposited (the “Trust Account”), and hereby agrees not to seek recourse, reimbursement, payment or satisfaction
for any Claim against the Trust Account for any reason whatsoever.

 

[Signature Page Follows]

 

    5 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:

	 	 
	 	GALATA ACQUISITION CORP.
	 	 
	 	By:
	 	Name:
	 	Title:

 

	 	PURCHASER:

	 	 
	 	GALATA ACQUISITION SPONSOR, LLC
	 	 
	 	By:
	 	Name:
	 	Title:

 

[Signature Page to Private Placement Warrant
Purchase Agreement]

 

    6

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