Document:

EX-4.5

 Exhibit 4.5 

INSIGHT ACQUISITION CORP. 

DESCRIPTION OF SECURITIES 

Insight Acquisition Corp. (“we,” “our” or the “Company”) is a Delaware corporation and our affairs are governed
by our amended and restated certificate of incorporation and the Delaware General Corporation Law (the “DGCL”). Pursuant to our amended and restated certificate of incorporation, we are authorized to issue 220,000,000 shares of common
stock, $0.0001 par value each, including 200,000,000 shares of Class A common stock and 20,000,000 shares of Class B common stock, as well as 1,000,000 shares of preferred stock, $0.0001 par value each. The following description summarizes
certain terms of our capital stock as set out more particularly in our amended and restated certificate of incorporation. Because it is only a summary, it may not contain all the information that is important to you. 

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 thereof to purchase one share of Class A common stock at a price of $11.50 per share, subject to
adjustment as described in our final prospectus filed with the Securities and Exchange Commission (the “SEC”) on September 2, 2021. Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for a whole number
of the shares of the Company’s Class A common stock. This means only a whole warrant may be exercised at any given time by a warrant holder. For example, if a warrant holder holds one-half of one
warrant to purchase a share of Class A common stock, such warrant will not be exercisable. If a warrant holder holds two halves, such whole warrant will be exercisable for one share of Class A common stock at a price of $11.50 per share.
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 

Common Stock 
 Stockholders of record are
entitled to one vote for each share held on all matters to be voted on by stockholders. Holders of Class A common stock and holders of Class B common stock will vote together as a single class on all matters submitted to a vote of our
stockholders except as required by law. Unless specified in our amended and restated certificate of incorporation, or as required by applicable provisions of the DGCL or applicable 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. Our board of directors is divided into three classes, each of which will generally serve for a term of three years with only one class of
directors being elected in each year. There is no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of the shares voted for the election of directors can elect all of the directors. Our
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 200,000,000 shares of Class A common
stock, if we were to enter into a business combination, we may (depending on the terms of such a business combination) be required to increase the number of shares of Class A common stock which we are authorized to issue at the same time as our
stockholders vote on the business combination to the extent we seek stockholder approval in connection with our initial business combination. Our board of directors is divided into three classes with only one class of directors being elected in each
year and each class (except for those directors appointed prior to our first annual meeting of stockholders) serving a three-year term. 

In accordance with the New York Stock Exchange (the “NYSE”) corporate governance requirements, we are not required to hold an annual
meeting until no later than one year after our first fiscal year end following our listing on the NYSE. Under Section 211(b) of the DGCL, we are, however, required to hold an annual meeting of stockholders for the purposes of electing directors
in accordance with our bylaws, unless such election is made by written consent in lieu of such a meeting. We may not hold an annual meeting of stockholders to elect new directors prior to the consummation of our initial business combination, and
thus we may not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting. Therefore, if our stockholders want us to hold an annual meeting prior to the consummation of our initial business combination, they may attempt
to force us to hold one by submitting an application to the Delaware Court of Chancery in accordance with Section 211(c) of the DGCL. 

 We will provide our public stockholders with the opportunity to redeem all or a portion of
their public shares upon the completion of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of
two business days prior to the consummation of our initial business combination, including interest earned on the funds held in the trust account (which interest shall be net of taxes payable), divided by the number of then outstanding public
shares, subject to the limitations described in our final prospectus filed with the SEC on September 2, 2021. The per-share amount we will distribute to investors who properly redeem their shares will not
be reduced by the deferred underwriting commissions we will pay to the underwriters. Our initial stockholders, 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 founder shares and public shares they hold in connection with the completion of our initial business combination. The anchor investors are also not entitled to redemption rights with respect to any founder shares held by
them in connection with the completion of our business combination. Unlike many special purpose acquisition companies that hold stockholder votes and conduct proxy solicitations in conjunction with their initial business combinations and provide for
related redemptions of public shares for cash upon completion of such initial business combinations even when a vote is not required by law, if a 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 our 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, like many special purpose acquisition
companies, offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek stockholder approval, we will complete our initial business combination only if a majority
of the shares of common stock voted are voted in favor of our initial business combination. However, the participation of our sponsor, officers, directors, advisors or their affiliates in privately-negotiated transactions (as described in our final
prospectus filed with the SEC on September 2, 2021), if any, could result in the approval of our initial business combination even if a majority of our public stockholders vote, or indicate their intention to vote, against such initial business
combination. For purposes of seeking approval of the majority of our outstanding shares of common stock, non-votes will have no effect on the approval of our initial business combination once a
quorum is obtained. 
 If we seek stockholder approval of our initial business combination and we do not conduct redemptions in connection
with our initial business combination pursuant to the tender offer rules, our amended and restated 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 Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than
an aggregate of 15% of our public shares, which we refer to as the “Excess Shares,” without our prior consent. However, we would not be restricting our stockholders’ ability to vote all of their shares (including Excess Shares) for or
against our initial business combination. Our stockholders’ inability to redeem the Excess Shares will reduce their influence over our ability to complete our initial 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 our initial business combination. And, as a result, such
stockholders will continue to hold that number of shares exceeding 15% and, in order to dispose such shares would be required to sell their shares in open market transactions, potentially at a loss. 

If we seek stockholder approval in connection with our initial business combination, our initial stockholders, sponsor, officers and directors
have agreed to vote any founder shares they hold and any public shares purchased, and the anchor investors have agreed to vote any founder shares held by them, in favor of our initial business combination. As a result, in addition to our initial
stockholders’ founder shares, we would need 9,000,001, or 37.5%, of the 24,000,000 public shares sold in our initial public offering to be voted in favor of an initial business combination in order to have our initial business combination
approved (assuming all outstanding shares are voted), or 1,500,001, or 6.25%, of the 24,000,000 public shares sold in our initial public offering to be voted in favor of an initial business combination in order to have our initial business
combination approved (assuming only the minimum number of shares are voted). Additionally, each public stockholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction. 

  
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 Pursuant to our amended and restated certificate of incorporation, if we are unable to
complete our initial business combination within 18 months from the closing of our initial public offering, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten
business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds
held in the trust account (which interest shall be net of taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public
stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders
and our board of directors, liquidate and dissolve, subject in each case to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. Our initial stockholders have entered into agreements
with us, pursuant to which they have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares if we fail to complete our initial business combination within 18 months from the closing
of our initial public offering or any extended period of time that we may have to consummate an initial business combination as a result of an amendment to our amended and restated certificate of incorporation. However, if our initial stockholders,
management team or anchor investors acquire public shares, they will be entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete our initial business combination within the prescribed
time period. 
 In the event of a liquidation, dissolution or winding up of the Company after a business combination, our 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 shares, 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 at a per-share price equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net of taxes payable), divided by the
number of then outstanding public shares, upon the completion of our initial business combination, subject to the limitations described in our final prospectus filed with the SEC on September 2, 2021. 

Warrants 
 Each whole warrant entitles the
registered holder to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment as discussed below, at any time commencing 30 days following the completion of our initial business combination provided
that we have an effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”) covering the shares of Class A common stock issuable upon exercise of the warrants and a current prospectus relating
to them is available (or we permit holders to exercise their warrants on a cashless basis under the circumstances specified in the warrant agreement) and such shares are registered, qualified or exempt from registration under the securities, or blue
sky, laws of the state of residence of the holder. Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for a whole number of shares of Class A common stock. This means only a whole warrant may be exercised at a
given time by a warrant holder. 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 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 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 a share of Class A common stock upon exercise of a warrant unless the share of 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 no event will we be required to net cash settle any warrant. In the event that a registration statement is not effective for the
exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase price for the unit solely for the share of Class A common stock underlying such unit. 

 

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

 

	 	•	 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 closing price of the common stock equals or exceeds $18.00 per share (as adjusted for
stock splits, stock capitalizations, reorganizations, recapitalizations and the like and for certain issuances of Class A common stock and equity-linked securities for capital raising purposes in connection with the closing of our initial
business combination) 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 for cash, we may exercise our redemption right even if we are unable to register or qualify
the underlying securities for sale under all applicable state securities laws. 
 We have established the last of the redemption criterion
discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrant
holder will be entitled to exercise his, her or its warrant prior to the scheduled redemption date. However, the price of the Class A common stock may fall below the $18.00 redemption trigger price (as adjusted for stock splits, stock
capitalizations, reorganizations, recapitalizations and the like and for certain issuances of Class A common stock and equity-linked securities for capital raising purposes in connection with the closing of our initial business combination) as
well as the $11.50 warrant exercise price after the redemption notice is issued. 
 If we call the warrants for redemption, our management
will have the option to require any holder that wishes to exercise his, her or 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 

  
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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 Class A common stock underlying the
warrants, multiplied by the excess of the “fair market value” of our Class A common stock (defined below) over the exercise price of the warrants by (y) the fair market value. The “fair market value” will mean the
average closing 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, the holders of the private placement warrants and their 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. 
 A holder of a warrant may notify us in writing in the event it elects to be subject to a requirement that such holder
will not have the right to exercise such warrant, to the extent that after giving effect to such exercise, such person (together with such person’s affiliates), to the warrant agent’s actual knowledge, would beneficially own in excess of
4.9% or 9.8% (as specified by the holder) of the Class A 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 share capitalization payable in shares of Class A
common stock, or by a split-up of common stock or other similar event, then, on the effective date of such share capitalization, split-up or similar
event, the number of shares of Class A common stock issuable upon exercise of each warrant will be increased in proportion to such increase in the outstanding shares of common stock. A rights offering to holders of common stock entitling
holders to purchase Class A common stock at a price less than the fair market value will be deemed a share capitalization 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 and divided by (y) the fair market value. For these purposes (i) if the rights offering is for securities convertible into or exercisable
for shares of 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 shares 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
Class A common stock trades 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 Class A common stock on account of such Class A common stock (or other securities into which the warrants are convertible), other than (a) as described above, (b) certain ordinary cash dividends,
(c) to satisfy the redemption rights of the holders of Class A common stock in connection with a proposed initial business combination, or (d) in connection with the redemption of our public shares upon our failure to complete our
initial business combination, then the warrant exercise price will be decreased, effective immediately after the effective date of such event, by the amount of cash and/or the fair market value of any securities or other assets paid on each share of
Class A common stock in respect of such event. 
 If the number of outstanding shares of Class A common stock is decreased by a
consolidation, combination, reverse share split or reclassification of Class A common stock or other similar event, then, on the effective date of such consolidation, combination, reverse share 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 share of Class A common stock. 

  
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 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 combination 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 initial stockholders or their affiliates, without taking into account any founder shares held by our initial stockholders or such affiliates, as applicable, prior to such issuance),
(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 20 trading day period starting on the trading day prior to the day on which we
consummate our initial business combination (such price, 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 under “— Redemption of warrants” 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 Class A common stock (other than those described above
or that solely affects the par value of such 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 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 Class A
common stock immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of Class A common 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 Warrant Value (as
defined in the warrant agreement) of the warrant. The purpose of such exercise price reduction is to provide additional value to holders of the warrants when an extraordinary transaction occurs during the exercise period of the warrants pursuant to
which the holders of the warrants otherwise do not receive the full potential value of the warrants. 
 The warrants have been issued in
registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. The warrant agreement provides that the terms of the warrants may be amended without the consent of any holder to cure
any ambiguity or correct any defective provision, and that all other modifications or amendments will require the vote or written consent of the holders of at least 50% of the then outstanding public warrants, and, solely with respect to any
amendment to the terms of the private placement warrants, a majority of the then outstanding private placement warrants. You should review a copy of the warrant agreement, which is filed as an exhibit to our Annual Report on Form 10-K, for a complete description of the terms and conditions applicable to the warrants. 
 The warrants
may be exercised upon surrender of the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the reverse side of the warrant certificate completed and executed as indicated, accompanied
by full payment of the exercise price (or on a cashless basis, if applicable), by certified or official bank check payable to us, for the number of warrants being exercised. The warrant holders do not have the rights or privileges of holders of
common stock and any voting rights until they exercise their warrants and receive Class A common stock. After the issuance of Class A common stock upon exercise of the warrants, each holder will be entitled to one vote for each share held
of record on all matters to be voted on by stockholders. 

  
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 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 the number of shares of Class A common stock to be issued to the warrant holder. 

We have agreed that, subject to applicable law, any action, proceeding or claim against us arising out of or relating in any way to the
warrant agreement will be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and we irrevocably submit to such jurisdiction, which jurisdiction will be the exclusive
forum for any such action, proceeding or claim. This provision applies to claims under the Securities Act but does not apply to claims under the Exchange Act or any claim for which the federal district courts of the United States of America are the
sole and exclusive forum. 
 Our Transfer Agent and Warrant Agent 

The transfer agent for our common stock and warrant agent for our warrants is Continental Stock Transfer & Trust Company. We have
agreed to indemnify Continental Stock Transfer & Trust Company in its roles as transfer agent and warrant agent, its agents and each of its stockholders, directors, officers and employees against all claims and losses that may arise out of
acts performed or omitted for its activities in that capacity, except for any liability due to any gross negligence or intentional misconduct of the indemnified person or entity. Continental Stock Transfer & Trust Company has agreed that it
has no right of set-off or any right, title, interest or claim of any kind to, or to any monies in, the trust account, and has irrevocably waived any right, title, interest or claim of any kind to,
or to any monies in, the trust account that it may have now or in the future. Accordingly, any indemnification provided will only be able to be satisfied, or a claim will only be able to be pursued, solely against us and our assets outside the trust
account and not against any monies in the trust account or interest earned thereon. 
 Our Amended and Restated Certificate of Incorporation 

Our amended and restated certificate of incorporation contains certain requirements and restrictions relating to our initial public offering
that will apply to us until the completion of our initial business combination. These provisions cannot be amended without the approval of the holders of 65% of our common stock. Our initial stockholders may participate in any vote to amend our
amended and restated certificate of incorporation and will have the discretion to vote in any manner they choose. Specifically, our amended and restated certificate of incorporation provides, among other things, that: 

 

	 	•	 If we are unable to complete our initial business combination within 18 months from the closing of our initial
public offering, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public shares, at
a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net
of taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right
to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, liquidate and dissolve, subject in
each case to our obligations under Delaware law to provide for claims of creditors and in all cases subject to the requirements of other applicable law; 

  

	 	•	 Prior to our initial business combination, we may not issue additional securities that would entitle the
holders thereof to (i) receive funds from the trust account or (ii) vote as a class with our public shares (a) on our initial business combination or (b) to approve an amendment to our amended and restated certificate of
incorporation to (x) extend the time we have to consummate a business combination beyond 18 months from the closing of our initial public offering or (y) amend the foregoing provisions; 

 

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

  
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	 	•	 If a stockholder vote on our initial business combination is not required by law and we do not decide to hold a
stockholder vote for business or other legal reasons, we will offer to redeem our public shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, and will file tender offer documents
with the SEC prior to completing our initial business combination which contain substantially the same financial and other information about our initial business combination and the redemption rights as is required under Regulation 14A of the
Exchange Act. Whether or not we maintain our registration under the Exchange Act or our listing on the NYSE, we will provide our public stockholders with the opportunity to redeem their public shares by one of the two methods listed above;

  

	 	•	 So long as we maintain a listing for our securities on the NYSE, the NYSE rules require that we must consummate
an initial business combination with one or more operating businesses or assets with a fair market value of at least 80% of the assets held in the trust account (net of amounts disbursed to management for working capital purposes, if permitted, and
excluding the amount of any deferred underwriting commissions) 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 to modify the
substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within 18 months from the closing of our initial public offering, or with respect to any other material provisions
relating to stockholders’ rights or pre-initial business combination activity, we will provide our public stockholders with the opportunity to redeem all or a portion of their 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
(which interest shall be net of taxes payable), divided by the number of then outstanding public shares, subject to the limitations described in our final prospectus filed with the SEC on September 2, 2021; and 

 

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

 In addition, our amended and restated certificate of incorporation provides 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. 
 Certain Anti-Takeover
Provisions of Delaware Law and our Amended and Restated Certificate of Incorporation and Bylaws 
 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 

  
 8 

	 	•	 on or subsequent to the date of the transaction, the initial 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. 

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

Our authorized but unissued common stock and preferred stock are available for future issuances without stockholder approval and could be
utilized for a variety of corporate purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and preferred stock could render more
difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise. 
 Exclusive forum for
certain lawsuits 
 Our amended and restated certificate of incorporation requires, unless we consent in writing to the selection of
an alternative forum, that (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee to us or our stockholders,
(iii) any action asserting a claim against us, our directors, officers or employees arising pursuant to any provision of the DGCL or our amended and restated certificate of incorporation or bylaws, or (iv) any action asserting a claim
against us, our directors, officers or employees governed by the internal affairs doctrine may be brought only in the Court of Chancery in the State of Delaware, except any claim (A) as to which the Court of Chancery of 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 or (C) for which the Court of Chancery does not have subject matter jurisdiction. If an action is brought outside 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 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 provides 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. 
 Additionally, unless we
consent in writing to the selection of an alternative forum, the federal courts shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act against us or any of our directors,
officers, other employees or agents. Section 22 of the Securities Act, however, created concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and
regulations thereunder. Accordingly, there is uncertainty as to whether a court would enforce these exclusive forum provisions, and the enforceability of similar choice of forum provisions in other companies’ charter documents has been
challenged in legal proceedings. While the Delaware courts have determined that such exclusive forum provisions are facially valid, a stockholder may nevertheless seek to bring a claim in a venue other than those designated in the exclusive forum
provisions, and there can be no assurance that such provisions will be enforced by a court in those other jurisdictions. Any person or entity purchasing or otherwise acquiring any interest in our securities shall be deemed to have notice of and
consented to these provisions; however, we note that investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder. 
  

  
 9 

 Special meeting of stockholders 

Our bylaws provide that special meetings of our stockholders may be called only by a majority vote of our board of directors, by our Chief
Executive Officer or by our Non-Executive Chairman. 
 Advance notice requirements for stockholder
proposals and director nominations 
 Our bylaws provide that stockholders seeking to bring business before our annual meeting of
stockholders, or to nominate candidates for election as directors at our annual meeting of stockholders, must provide timely notice of their intent in writing. To be timely, a stockholder’s notice will need to be received by the company
secretary at our principal executive offices not later than the close of business on the 90th day nor earlier than the opening of business on the 120th day prior to the anniversary date of the immediately preceding annual meeting of stockholders. Pursuant to Rule 14a-8 of the Exchange Act,
proposals seeking inclusion in our annual proxy statement must comply with the notice periods contained therein. Our bylaws also specify certain requirements as to the form and content of a stockholders’ meeting. These provisions may preclude
our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for directors at our annual meeting of stockholders. 

Action by written consent 
 Any
action required or permitted to be taken by our common stockholders must be effected by a duly called annual or special meeting of such stockholders and may not be effected by written consent of the stockholders other than with respect to our
Class B common stock. 
 Classified Board of Directors 

Our board of directors is divided into three classes, Class I, Class II and Class III, with members of each class serving
staggered three-year terms. Our amended and restated certificate of incorporation provides that the authorized number of directors may be changed only by resolution of the board of directors. Subject to the terms of any preferred stock, any or all
of the directors may be removed from office at any time, but only for cause and only by the affirmative vote of holders of a majority of the voting power of all then outstanding shares of our capital stock entitled to vote generally in the election
of directors, voting together as a single class. Any vacancy on our board of directors, including a vacancy resulting from an enlargement of our board of directors, may be filled only by vote of a majority of our directors then in office. 

Class B Common Stock Consent Right 

For so long as any shares of Class B common stock remain outstanding, we may not, without the prior vote or written consent of the holders
of a majority of the shares of Class B common stock then outstanding, voting separately as a single class, amend, alter or repeal any provision of our certificate of incorporation, whether by merger, consolidation or otherwise, if such
amendment, alteration or repeal would alter or change the powers, preferences or relative, participating, optional or other or special rights of the Class B common stock. Any action required or permitted to be taken at any meeting of the
holders of Class B common stock may be taken without a meeting, without prior notice and without a vote, if a consent or consents in writing, setting forth the action so taken, shall be signed by the holders of the outstanding Class B
common stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares of Class B common stock were present and voted. 

  
 10Exhibit 4.1

 

DESCRIPTION OF SECURITIES

 

General

 

The following description summarizes important terms
of the classes of our capital stock as of December 31, 2021. This summary does not purport to be complete and is qualified in its entirety
by the provisions of our articles of incorporation and our bylaws, which have been filed as exhibits to this annual report.

 

Our authorized capital stock consists of 200,000,000
shares of Common Stock, par value $0.01 per share, and 10,000,000 shares of Preferred Stock, par value $0.01 per share.  

 

As of December 31, 2021, there were 12,403,680 shares
of Common Stock, 1,886,000 shares of Series A Preferred Stock and 641,254 shares of Series B Preferred Stock issued and outstanding. No
other shares of our capital stock were issued and outstanding as of such date.

 

Common Stock

 

Holders of our Common Stock are entitled to one vote
for each share on all matters voted upon by our stockholders, including the election of directors, and do not have cumulative voting rights.
 Subject to the rights of holders of any then outstanding shares of our Preferred Stock, our Common stockholders are entitled to
any dividends that may be declared by our board.  Holders of our Common Stock are entitled to share ratably in our net assets upon
our dissolution or liquidation after payment or provision for all liabilities and any preferential liquidation rights of our Preferred
Stock then outstanding.  Holders of our Common Stock have no preemptive rights to purchase shares of our stock.  The shares
of our Common Stock are not subject to any redemption provisions.   The rights, preferences and privileges of holders of our Common
Stock will be subject to those of the holders of any shares of our Preferred Stock that we may issue in the future.

 

Preferred Stock

 

Our articles of incorporation further authorize the
board of directors to issue, from time to time, without stockholder approval, up to 10,000,000 shares of Preferred Stock. Subject to the
provisions of our articles of incorporation and limitations prescribed by law, our board is authorized to adopt resolutions to issue shares,
establish the number of shares, change the number of shares constituting any series, and provide or change the voting powers, designations,
preferences and relative rights, qualifications, limitations or restrictions on shares of our Preferred Stock, including dividend rights,
terms of redemption, conversion rights and liquidation preferences, in each case without any action or vote by our stockholders.

 

One of the effects of undesignated Preferred Stock
may be to enable our board to discourage an attempt to obtain control of our company by means of a tender offer, proxy contest, merger
or otherwise. The issuance of Preferred Stock may adversely affect the rights of our common stockholders by, among other things: restricting
dividends on the Common Stock; diluting the voting power of the Common Stock; impairing the liquidation rights of the Common Stock; or
delaying or preventing a change in control without further action by the stockholders.

 

Series A Preferred Stock

 

On May 8, 2019, we filed a certificate of designation
with the Nevada Secretary of State to establish our Series A Preferred Stock. We designated a total of 4,000,000 shares of Preferred Stock
as “Series A Cumulative Convertible Preferred Stock.” Our Series A Preferred Stock has the following voting powers, designations,
preferences and relative rights, qualifications, limitations or restrictions:

 

Ranking. The Series A Preferred Stock
ranks, as to dividend rights and rights upon our liquidation, dissolution, or winding up, senior to our Common Stock and pari
passu with our Series B Preferred Stock and Series C Preferred Stock. The terms of the Series A Preferred Stock will not limit
our ability to (i) incur indebtedness or (ii) issue additional equity securities that are equal or junior in rank to the shares of our
Series A Preferred Stock as to distribution rights and rights upon our liquidation, dissolution or winding up.

 

     

     

    

 

Dividend Rate and Payment Dates. Dividends
on our Series A Preferred Stock are cumulative and payable monthly in arrears to all holders of record on the applicable record date.
Holders of our Series A Preferred Stock will be entitled to receive cumulative dividends in the amount of $0.017 per share each month,
which is equivalent to the rate of 8% of the $2.50 liquidation preference per share. Dividends on shares of our Series A Preferred Stock
will continue to accrue even if any of our agreements prohibit the current payment of dividends or we do not have earnings.

 

Liquidation Preference. The liquidation
preference for each share of our Series A Preferred Stock is $2.50. Upon a liquidation, dissolution or winding up of our company, holders
of shares of our Series A Preferred Stock will be entitled to receive, before any payment or distribution is made to the holders of our
Common Stock and on a pari passu basis with holders of our Series B Preferred Stock and Series C Preferred Stock, the
liquidation preference with respect to their shares plus an amount equal to any accrued but unpaid dividends (whether or not declared)
to, but not including, the date of payment with respect to such shares.

 

Stockholder Optional Conversion. Each
share of Series A Preferred Stock is convertible, at any time and from time to time, at the option of the holder thereof and without the
payment of additional consideration, into that number of shares of Common Stock determined by dividing the liquidation preference of such
share by the conversion price then in effect. The conversion price is initially equal $2.50, subject to adjustment as set forth in the
certificate of designation. In addition, if at any time the trading price of our Common Stock is greater than the liquidation preference
of $2.50, we may deliver a written notice to all holders to cause each holder to convert all or part of such holders Series A Preferred
Stock.

 

Company Call and Stockholder Put Options.
Commencing on the fifth anniversary of the initial issuance of shares of our Series A Preferred Stock and continuing indefinitely thereafter,
we shall have a right to call for redemption the outstanding shares of our Series A Preferred Stock at a call price equal to $3.75, or
150% of the original issue price of our Series A Preferred Stock, and correspondingly, each holder of shares of our Series A Preferred
Stock shall have a right to put the shares of Series A Preferred Stock held by such holder back to us at a put price equal to $3.75, or
150% of the original issue purchase price of such shares.

 

Further Issuances. We will not be required
to redeem shares of our Series A Preferred Stock at any time except as otherwise described above under the caption “Company Call
and Stockholder Put Options.” Accordingly, the shares of our Series A Preferred Stock will remain outstanding indefinitely,
unless we decide, at our option, to exercise our call right, the holder of the Series A Preferred Stock exercises his put right or the
holder of shares of Series A Preferred Stock converts such stock into Common Stock in accordance with the terms of the Series A Preferred
Stock. The shares of Series A Preferred Stock are not subject to any sinking fund.

 

Voting Rights. We may not authorize
or issue any class or series of equity securities ranking senior to the Series A Preferred Stock as to dividends or distributions upon
liquidation (including securities convertible into or exchangeable for any such senior securities) or amend our articles of incorporation
(whether by merger, consolidation, or otherwise) to materially and adversely change the terms of the Series A Preferred Stock without
the affirmative vote of at least two-thirds of the votes entitled to be cast on such matter by holders of our outstanding shares of Series
A Preferred Stock, voting together as a class. Otherwise, holders of the shares of our Series A Preferred Stock do not have any voting
rights.

 

Series B Preferred Stock

 

On December 2, 2019, we filed a certificate of designation
with the Nevada Secretary of State to establish our Series B Preferred Stock. We designated a total of 1,000,000 shares of Preferred Stock
as “Series B Cumulative Redeemable Preferred Stock.” Our Series B Preferred Stock has the following voting powers, designations,
preferences and relative rights, qualifications, limitations or restrictions:

 

Ranking. The Series B Preferred Stock
ranks, as to dividend rights and rights upon our liquidation, dissolution, or winding up, senior to our Common Stock and pari
passu with our Series A Preferred Stock and Series C Preferred Stock. The terms of the Series B Preferred Stock do not limit
our ability to (i) incur indebtedness or (ii) issue additional equity securities that are equal or junior in rank to the shares of our
Series B Preferred Stock as to distribution rights and rights upon our liquidation, dissolution or winding up.

 

    2

     

    

 

Dividend Rate and Payment Dates. Dividends
on the Series B Preferred Stock are cumulative and payable monthly in arrears to all holders of record on the applicable record date.
Holders of our Series B Preferred Stock are entitled to receive cumulative dividends in the amount of $0.067 per share each month, which
is equivalent to the annual rate of 8% of the $10.00 liquidation preference per share; provided that upon an event of default (generally
defined as our failure to pay dividends when due or to redeem shares when requested by a holder), such amount shall be increased to $0.083
per month, which is equivalent to the annual rate of 10% of the $10.00 liquidation preference per share. Dividends on shares of our Series
B Preferred Stock will continue to accrue even if any of our agreements prohibit the current payment of dividends or we do not have earnings.

 

Liquidation Preference. The liquidation
preference for each share of our Series B Preferred Stock is $10.00. Upon a liquidation, dissolution or winding up of our company, holders
of shares of our Series B Preferred Stock will be entitled to receive, before any payment or distribution is made to the holders of our
Common Stock and on a pari passu basis with holders of our Series A Preferred Stock and Series C Preferred Stock, the
liquidation preference with respect to their shares plus an amount equal to any accrued but unpaid dividends (whether or not declared)
to, but not including, the date of payment with respect to such shares.

 

Company Call and Stockholder Put Options.
Commencing on November 29, 2024 (the fifth anniversary of the initial closing of this offering) and continuing indefinitely thereafter,
we shall have a right to call for redemption the outstanding shares of our Series B Preferred Stock at a call price equal to $15.00, or
150% of the original issue price of our Series B Preferred Stock, and correspondingly, each holder of shares of our Series B Preferred
Stock shall have a right to put the shares of Series B Preferred Stock held by such holder back to us at a put price equal to $15.00,
or 150% of the original issue purchase price of such shares.

 

Further Issuances. We will not be required
to redeem shares of our Series B Preferred Stock at any time except as otherwise described above under the caption “Company Call
and Stockholder Put Options.” Accordingly, the shares of our Series B Preferred Stock will remain outstanding indefinitely,
unless we decide, at our option, to exercise our call right, the holder of the Series B Preferred Stock exercises his put right. The shares
of Series B Preferred Stock will not be subject to any sinking fund.

 

Voting Rights. We may not authorize
or issue any class or series of equity securities ranking senior to the Series B Preferred Stock as to dividends or distributions upon
liquidation (including securities convertible into or exchangeable for any such senior securities) or amend our articles of incorporation
(whether by merger, consolidation, or otherwise) to materially and adversely change the terms of the Series B Preferred Stock without
the affirmative vote of at least two-thirds of the votes entitled to be cast on such matter by holders of our outstanding shares of Series
B Preferred Stock, voting together as a class. Otherwise, holders of the shares of our Series B Preferred Stock will not have any voting
rights.

 

No Conversion Right. The Series B Preferred
Stock are not convertible into shares of our Common Stock.

 

Series C Preferred Stock

 

On May 24, 2021, we filed an amended and restated
certificate of designation with the Nevada Secretary of State to establish our Series C Preferred Stock. We designated a total of 47,000
shares of Preferred Stock as “Series C Cumulative Redeemable Preferred Stock.” Our Series C Preferred Stock has following
voting powers, designations, preferences and relative rights, qualifications, limitations or restrictions:

 

Ranking. The Series C Preferred Stock
ranks, as to dividend rights and rights upon our liquidation, dissolution, or winding up, senior to our Common Stock and pari
passu with our Series A Preferred Stock and Series B Preferred Stock. The terms of the Series C Preferred Stock do not limit
our ability to (i) incur indebtedness or (ii) issue additional equity securities that are equal or junior in rank to the shares of our
Series C Preferred Stock as to distribution rights and rights upon our liquidation, dissolution or winding up.

 

    3

     

    

 

Stated Value. Each share of Series C
Preferred Stock has an initial stated value of $1,000, which is equal to the offering price per share, subject to appropriate adjustment
in relation to certain events, such as recapitalizations, stock dividends, stock splits, stock combinations, reclassifications or similar
events affecting our Series C Preferred Stock.

 

Dividend Rate and Payment Dates. Dividends
on the Series C Preferred Stock are cumulative and payable monthly in arrears to all holders of record on the applicable record date.
Holders of our Series C Preferred Stock are entitled to receive cumulative monthly cash dividends at a per annum rate of 7% of the stated
value (or $5.83 per share each month based on the initial stated value). Dividends on each share begin accruing on, and are cumulative
from, the date of issuance and regardless of whether our board of directors declares and pays such dividends. Dividends on shares of our
Series C Preferred Stock will continue to accrue even if any of our agreements prohibit the current payment of dividends or we do not
have earnings.

 

Liquidation Preference. Upon a liquidation,
dissolution or winding up of our company, holders of shares of our Series C Preferred Stock are entitled to receive, before any payment
or distribution is made to the holders of our Common Stock and on a pari passu basis with holders of our Series A Preferred
Stock and Series B Preferred Stock, a liquidation preference equal to the stated value per share, plus accrued but unpaid dividends thereon.

 

Redemption Request at the Option of a Holder.
Once per calendar quarter, a holder will have the opportunity to request that we redeem that holder’s Series C Preferred Stock.
Our board of directors may, however, suspend cash redemptions at any time in its discretion if it determines that it would not be in the
best interests of our company to effectuate cash redemptions at a given time because we do not have sufficient cash, including because
our board believes that our cash on hand should be utilized for other business purposes. Redemptions will be limited to four percent (4%)
of the total outstanding Series C Preferred Stock per quarter and any redemptions in excess of such limit or to the extent suspended,
shall be redeemed in subsequent quarters on a first come, first served, basis. We will redeem shares at a redemption price equal to the
stated value of such redeemed shares, plus any accrued but unpaid dividends thereon, less the applicable redemption fee (if any). As a
percentage of the aggregate redemption price of a holder’s shares to be redeemed, the redemption fee shall be:

 

		●	11% if the redemption is requested on or before
the first anniversary of the original issuance of such shares;

 

		●	8% if the redemption is requested after the first
anniversary and on or before the second anniversary of the original issuance of such shares;

 

		●	5% if the redemption is requested after the second
anniversary and on or before the third anniversary of the original issuance of such shares; and

 

		●	after the third anniversary of the date of original
issuance of shares to be redeemed, no redemption fee shall be subtracted from the redemption price.

 

Optional Redemption by our company.
We have the right (but not the obligation) to redeem shares of Series C Preferred Stock at a redemption price equal to the stated value
of such redeemed shares, plus any accrued but unpaid dividends thereon; provided, however, that if we redeem any shares
of Series C Preferred Stock prior to the fourth (4th) anniversary of their issuance, then the redemption price shall include
a premium equal to ten percent (10%) of the stated value.

 

Mandatory Redemption by our company.
We are required to redeem the outstanding shares of Series C Preferred Stock on the fourth (4th) anniversary of their issuance
at a redemption price equal to the stated value of such redeemed shares, plus any accrued but unpaid dividends thereon.

 

Optional Repurchase Upon Death, Disability or
Bankruptcy of a Holder. Subject to certain restrictions and conditions, we will also repurchase shares of Series C Preferred Stock
of a holder who is a natural person (including an individual beneficial holder who holds shares through a custodian or nominee, such as
a broker-dealer) upon his or her death, total disability or bankruptcy, within sixty (60) days of our receipt of a written request from
the holder or the holder’s estate at a repurchase price equal to the stated value, plus accrued and unpaid dividends thereon. A
“total disability” means a determination by a physician approved by us that a holder, who was gainfully employed and working
at least forty (40) hours per week as of the date on which his or her shares were purchased, has been unable to work forty (40) or more
hours per week for at least twenty-four (24) consecutive months. Please see the certificate of designation, the form of which has been
filed as an exhibit to the offering statement of which this offering circular forms a part, for the procedures to request a repurchase.

 

    4

     

    

 

Restrictions on Redemption and Repurchase. We
are not obligated to redeem or repurchase shares of Series C Preferred Stock if we are restricted by applicable law or our articles of
incorporation from making such redemption or repurchase or to the extent any such redemption or repurchase would cause or constitute a
default under any borrowing agreements to which we or any of our subsidiaries are a party or otherwise bound. In addition, we have no
obligation to redeem shares in connection with a redemption request made by a holder if we determine, as of the redemption date, that
we do not have sufficient funds available to fund that redemption. In this regard, we will have complete discretion under the certificate
of designation for the Series C Preferred Stock to determine whether we are in possession of “sufficient funds” to fund a
redemption request. To the extent we are unable to complete redemptions we may have earlier agreed to make, we will complete those redemptions
promptly after we become able to do so, with all such deferred redemptions being satisfied on a first come, first served, basis.

 

Voting Rights. The Series C Preferred
Stock has no voting rights relative to matters submitted to a vote of our stockholders (other than as required by law). However, we may
not, without the affirmative vote or written consent of the holders of a majority of the then issued and outstanding Series C Preferred
Stock: (i) amend or waive any provision of the certificate of designation or otherwise take any action that modifies any powers, rights,
preferences, privileges or restrictions of the Series C Preferred Stock (other than an amendment solely for the purpose of changing the
number of shares of Series C Preferred Stock designated for issuance as provided in the certificate of designation); (ii) authorize, create
or issue shares of any class of stock having rights, preferences or privileges as to dividends or distributions upon a liquidation that
are superior to the Series C Preferred Stock; or (iii) amend our articles of incorporation in a manner that adversely and materially affects
the rights of the Series C Preferred Stock.

 

No Conversion Right. The Series C Preferred
Stock is not convertible into shares of our Common Stock.

 

Anti-takeover Effects of Nevada Law

 

Business Combinations

 

The “business combination” provisions
of Sections 78.411 to 78.444, inclusive, of the Nevada Revised Statutes prohibit a Nevada corporation with at least 200 stockholders from
engaging in various “combination” transactions with any interested stockholder for a period of three years after the date
of the transaction in which the person became an interested stockholder, unless the transaction is approved by the board of directors
prior to the date the interested stockholder obtained such status; or after the expiration of the three-year period, unless:

 

		●	the transaction is approved by the board of directors
or a majority of the voting power held by disinterested stockholders, or

 

		●	if the consideration to be paid by the interested
stockholder is at least equal to the highest of: (a) the highest price per share paid by the interested stockholder within the three years
immediately preceding the date of the announcement of the combination or in the transaction in which it became an interested stockholder,
whichever is higher, (b) the market value per share of common stock on the date of announcement of the combination and the date the interested
stockholder acquired the shares, whichever is higher, or (c) for holders of preferred stock, the highest liquidation value of the preferred
stock, if it is higher.

 

A “combination” is defined to include
mergers or consolidations or any sale, lease exchange, mortgage, pledge, transfer or other disposition, in one transaction or a series
of transactions, with an “interested stockholder” having: (a) an aggregate market value equal to 5% or more of the aggregate
market value of the assets of the corporation, (b) an aggregate market value equal to 5% or more of the aggregate market value of all
outstanding shares of the corporation, or (c) 10% or more of the earning power or net income of the corporation. In general, an “interested
stockholder” is a person who, together with affiliates and associates, owns (or within three years, did own) 10% or more of a corporation’s
voting stock.

 

These provisions could prohibit or delay mergers or
other takeover or change in control attempts and, accordingly, may discourage attempts to acquire our company even though such a transaction
may offer stockholders the opportunity to sell their stock at a price above the prevailing market price.

 

    5

     

    

 

Control Share Acquisitions

 

The “control share” provisions of Sections
78.378 to 78.3793, inclusive, of the Nevada Revised Statutes, which apply only to Nevada corporations with at least 200 stockholders,
including at least 100 stockholders of record who are Nevada residents, and which conduct business directly or indirectly in Nevada, prohibit
an acquiror, under certain circumstances, from voting its shares of a target corporation’s stock after crossing certain ownership
threshold percentages, unless the acquiror obtains approval of the target corporation’s disinterested stockholders. These provisions
specify three thresholds: one-fifth or more but less than one-third, one-third but less than a majority, and a majority or more, of the
outstanding voting power. Once an acquiror crosses one of the above thresholds, those shares in an offer or acquisition, and acquired
within 90 days thereof, become “control shares” and such control shares are deprived of the right to vote until disinterested
stockholders restore the right. These provisions also provide that if control shares are accorded full voting rights and the acquiring
person has acquired a majority or more of all voting power, all other stockholders who do not vote in favor of authorizing voting rights
to the control shares are entitled to demand payment for the fair value of their shares in accordance with statutory procedures established
for dissenters’ rights.

 

Anti-takeover Effects of Articles of Incorporation
and Bylaws

 

Our articles of incorporation and bylaws also contain
certain provisions that may have anti-takeover effects, making it more difficult for or preventing a third party from acquiring control
of our company or changing our board of directors and management.

 

As noted above, our articles of incorporation authorize
our board to issue up to 10,000,000 shares of Preferred Stock without further stockholder approval. The Preferred Stock may be issued
in one or more series, the terms of which may be determined at the time of issuance by the board of directors without further action by
the stockholders. These terms may include preferences as to dividends and liquidation, conversion rights, redemption rights and sinking
fund provisions. The issuance of any Preferred Stock could diminish the rights of holders of Common Stock, and therefore could reduce
the value of such Common Stock. In addition, specific rights granted to future holders of Preferred Stock could be used to restrict our
ability to merge with, or sell assets to, a third party. The ability of the board to issue Preferred Stock could make it more difficult,
delay, discourage, prevent or make it more costly to acquire or effect a change-in-control, which in turn could prevent stockholders from
recognizing a gain in the event that a favorable offer is extended and could materially and negatively affect the market price of our
Common Stock.

 

In addition, according to our articles of incorporation
and bylaws neither the holders of Common Stock nor the holders of Preferred Stock have cumulative voting rights in the election of directors.
The lack of cumulative voting makes it more difficult for other stockholders to replace the board of directors or for a third party to
obtain control of our company by replacing the board of directors. The bylaws also contain a limitation as to who may call special meetings
as well as require advance notice of stockholder matters to be brought at a meeting. Additionally, our bylaws also provide that no director
may be removed by less than a two-thirds vote of the issued and outstanding shares entitled to vote on the removal.

 

Transfer Agent and Registrar

 

The transfer agent and registrar for our Common Stock
is First American Stock Transfer, Inc. with an address at 4747 North 7th Street Suite 170, Phoenix AZ 85014. Their phone number is
(602) 485-1346.

 

 

6

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