Document:

Exhibit
10.1

 

CONSULTING
AGREEMENT

 

This
Consulting Agreement (the “Agreement”) is made effective as of November 30, 2021 (the “Effective Date”), by and
between PULMATRIX, Inc., a Delaware corporation, with its principal place of business being 99 Hayden Avenue, Suite 390, Lexington, MA
02421 (the “Company”) and Danforth Advisors, LLC, a Massachusetts limited liability company, with its principal place of
business being 91 Middle Road, Southborough, MA 01772 (“Danforth”). The Company and Danforth are herein sometimes referred
to individually as a “Party” and collectively as the “Parties.”

 

WHEREAS,
the Company is a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary and non-pulmonary
disease using its patented iSPERSETM technology; and

 

WHEREAS,
Danforth has expertise in financial and corporate operations and strategy; and

 

WHEREAS,
Danforth desires to serve as an independent consultant for the purpose of providing the Company with certain strategic and financial
advice and support services, using personnel described in Exhibit A attached hereto, (the “Services”); and

 

WHEREAS,
the Company wishes to engage Danforth on the terms and conditions set forth herein.

 

NOW
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which are hereby acknowledged,
the Parties agree and covenant as follows.

 

	1.	Services
                                            of Consultant. Danforth will assist the Company with matters relating to the Services.
                                            The Services are more fully described in Exhibit A attached hereto. Danforth and the
                                            Company will review the Services on a monthly basis to determine appropriate staffing requirements.
                                            The Company shall have the right to request changes to the Danforth personnel at any time
                                            in writing. If Company makes a written request, Danforth shall replace such personnel subject
                                            to the Company’s right of pre-approval.
	 	 
	2.	Compensation
                                            for Services. In full consideration of Danforth’s full, prompt and faithful performance
                                            of the Services, the Company shall compensate Danforth a consulting fee more fully described
                                            in Exhibit A (the “Consulting Fee”). Danforth shall, from time to time,
                                            but not more frequently than twice per calendar month, invoice the Company for Services rendered,
                                            and such invoice will be paid upon 15 days of receipt. Each month the Parties shall evaluate
                                            jointly the current fee structure and scope of Services. Danforth reserves the right to an
                                            annual increase in consultant rates of up to 4%, effective January 1 of each year. Upon termination
                                            of this Agreement pursuant to Section 3, no compensation or benefits of any kind as described
                                            in this Section 2 shall be payable or issuable to Danforth after the effective date of such
                                            termination. In addition, the Company will reimburse Danforth for reasonable out-of-pocket
                                            business expenses, including but not limited to travel and parking, incurred by Danforth
                                            in performing the Services hereunder, upon submission by Danforth of supporting documentation
                                            reasonably acceptable to the Company. Any such accrued expenses in any given three (3) month
                                            period that exceed $1,000 shall be submitted to the Company for its prior written approval.

 

    	1

     

    

 

All
Danforth invoices and billing matters should be addressed to:

 

Company
Accounts Payable Contact:

 

	 	Name:	Ted
    Raad
	 	Title:	Chief
    Executive Officer
	 	Address:	99
    Hayden Avenue, Suite 390, Lexington, MA 02421
	 	Phone:	781-357-2333
	 	E-mail:	traad@Pulmatrix.com

 

All
Company payments and billing inquiries should be addressed to:

 

	 	Danforth
    Accounting:	Betsy
    Sherr bsherr@danforthadvisors.com
	 	 	(508)
    277-0031
	 	 	Danforth
    Advisors
	 	 	PO
    Box 335
	 	 	Southborough,
    MA 01772

 

	3.	Term
    and Termination. The term of this Agreement will commence on the Effective Date and will continue until such time as either Party
    has given notice of termination pursuant to this paragraph 3 (the “Term”). This Agreement may be terminated by either
    Party hereto: (a) with Cause (as defined below) upon written notice to the other Party; or (b) without cause upon 30 days prior written
    notice to the other Party. For purposes of this Section 3, “Cause” shall include: (i) a breach of the terms of this Agreement
    which is not cured within 10 days of written notice of such default or (ii) the commission of any act of fraud, embezzlement or deliberate
    disregard of a rule or policy of the Company.
	 	 
	4.	Time
    Commitment. Danforth will devote such time to perform the Services under this Agreement as may reasonably be required. Danforth
    does not guarantee time and materials estimates in any way and such estimates are not fixed prices. Danforth will notify the Company
    as soon as practicable if an estimate will be exceeded.
	 	 
	5.	Place
    of Performance. Danforth will perform the Services at such locations upon which the Company and Danforth may mutually agree.
    Danforth will not, without the prior written consent of the Company, perform any of the Services at any facility or in any manner
    that might give anyone other than the Company any rights to or allow for disclosure of any Confidential Information (as defined below).
	 	 
	6.	Compliance
    with Policies and Guidelines. Danforth will perform the Services in accordance with all rules or policies adopted by the Company
    that the Company discloses in writing to Danforth, and in compliance with all applicable laws and regulations.

 

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	7.	Confidential
    Information. Danforth acknowledges and agrees that during the course of performing the Services, the Company may furnish, disclose
    or make available to Danforth information, including, but not limited to, all trade secrets material, compilations, data, formulae,
    models, patent disclosures, procedures, processes, business plans, projections, protocols, results of experimentation and testing,
    specifications, strategies and techniques, and all tangible and intangible embodiments thereof of any kind whatsoever (including,
    but not limited to, any apparatus, biological or chemical materials, animals, cells, compositions, documents, drawings, machinery,
    patent applications, records and reports), which is owned or controlled by the Company and is marked or designated as confidential
    at the time of disclosure or is of a type that is customarily considered to be confidential information (collectively the “Confidential
    Information”). Danforth acknowledges that the Confidential Information or any part thereof is the exclusive property of the
    Company and shall not be used for any purpose whatsoever other than as necessary for the performance of the Services on behalf of
    the Company, or disclosed to any third party without first obtaining the written consent of the Company. Danforth further agrees
    to take all practical steps to ensure that the Confidential Information, and any part thereof, shall not be disclosed or issued to
    its affiliates, agents or employees, except on like terms of confidentiality. The above provisions of confidentiality shall apply
    for a period of five years. Pursuant to the Defend Trade Secrets Act of 2016, Danforth acknowledges that Danforth will not have criminal
    or civil liability under any federal or state trade secret law for the disclosure of a trade secret that (i) is made (A) in confidence
    to a federal, state, or local government official, either directly or indirectly, or to an attorney and (B) solely for the purpose
    of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or
    other proceeding, if such filing is made under seal. In addition, if Danforth files a lawsuit for retaliation by Company for reporting
    a suspected violation of law, Danforth may disclose the trade secret to its attorney and may use the trade secret information in
    the court proceeding, if Danforth (i) files any document containing the trade secret under seal and (ii) does not disclose the trade
    secret, except pursuant to court order.
	 	 
	8.	Use
    of Name and Logo. The Company agrees to permit the use of its name and logo in a roster of Danforth clients, which may appear
    on the Danforth website and in its marketing materials.
	 	 
	9.	Intellectual
    Property. Danforth agrees that all ideas, inventions, discoveries, creations, manuscripts, properties, innovations, improvements,
    know-how, designs, developments, apparatus, techniques, methods, and formulae that Danforth conceives, makes, develops or improves
    as a result of performing the Services, whether or not reduced to practice and whether or not patentable, alone or in conjunction
    with any other party and whether or not at the request or upon the suggestion of the Company (all of the foregoing being hereinafter
    collectively referred to as the “Inventions”), shall be the sole and exclusive property of the Company and shall be a
    “work made for hire” as that term is defined in the U.S. Copyright Act, and will be the Company’s sole and exclusive
    property. If any Inventions are for any reason not a “work made for hire,” this Agreement constitutes an irrevocable
    assignment to the Company of the copyright to the Inventions throughout the world.

 

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	10.	Non
    Solicitation. All personnel representing Danforth are employees or contracted agents of Danforth. Accordingly, they are not retainable
    as employees or contractors by the Company and the Company hereby agrees not to solicit, hire or retain their services for so long
    as they are employees or contracted agents of Danforth and for two years thereafter. Should the Company violate this restriction,
    it agrees to pay Danforth liquidated damages equal to fifty percent (50%) of the employee’s starting annual base salary and
    target annual bonus for each Danforth contracted agent hired by the Company in violation of this Agreement plus Danforth’s
    reasonable attorneys’ fees and costs incurred in enforcing this agreement should the Company fail or refuse to pay the liquidated
    damages amount in full within 30 days following its violation. For purposes herein, “solicit” does not include broad-based
    recruiting efforts, including, without limitation, help wanted advertising and posting of open positions on a party’s internet
    site.
	 	 
	11.	Placement
    Services. In the event that Danforth refers a potential employee to the Company and that individual is hired, Danforth shall
    receive a fee equal to 20% of the employee’s starting annual base salary and target annual bonus. This fee is due and owing
    whether an individual is hired, directly or indirectly on a permanent basis or on a contract or consulting basis by the Company,
    as a result of Danforth’s efforts within one year of the date applicant(s) are submitted to the Company. Such payment is due
    within 30 days of the employee’s start date.
	 	 
	12.	No
    Implied Warranty. Except for any express warranties stated herein, the Services are provided on an “as is” basis,
    and the Company disclaims any and all other warranties, conditions, or representations (express, implied, oral or written), relating
    to the Services or any part thereof. Further, in performing the Services, Danforth is not engaged to disclose illegal acts, including
    fraud or defalcations, which may have taken place. The foregoing notwithstanding, Danforth will promptly notify the Company if Danforth
    becomes aware of any such illegal acts during the performance of the Services. Because the Services do not constitute an examination
    in accordance with standards established by the American Institute of Certified Public Accountants (the “AICPA”), Danforth
    is precluded from expressing an opinion as to whether financial statements provided by the Company are in conformity with generally
    accepted accounting principles or any other standards or guidelines promulgated by the AICPA, or whether the underlying financial
    and other data provide a reasonable basis for the statements.
	 	 
	13.	Indemnification.
    Each Party hereto agrees to indemnify and hold the other Party hereto, its directors, officers, agents and employees harmless against
    any claim based upon circumstances alleged to be inconsistent with such representations and/or warranties contained in this Agreement.
    Further, Danforth shall indemnify and hold harmless the Company and any of its managers, officers, directors, employees, trustees,
    shareholders, partners, principals, agents, parents, subsidiaries, and other affiliates and representatives against any claims, losses,
    damages or liabilities (or actions in respect thereof) that arise out of or are based on arising out of the gross negligence or willful
    misconduct of Danforth or any of its subcontractors or representatives. The Company shall indemnify and hold harmless Danforth and
    any of its subcontractors against any claims, losses, damages or liabilities (or actions in respect thereof) that arise out of or
    are based on the Services performed hereunder, except for any such claims, losses, damages or liabilities arising out of the gross
    negligence or willful misconduct of Danforth or any of its subcontractors. The Company will endeavor to add Consultant and any applicable
    subcontractor to its insurance policies as additional insureds. Furthermore, during the Term of this Agreement, if the Company desires
    that Danforth provide treasury services, the Company shall obtain and maintain a Crime and Cyber Insurance Policy that includes coverage
    for “Social Engineering” claims and extends coverage to Danforth.

 

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	14.	D&O
    Insurance. The Company shall use its best efforts to specifically include and cover, as a benefit for their protection, Danforth
    staff serving as directors or officers of the Company or affiliates from time to time with direct coverage as named insureds under
    the Company’s policy for directors’ and officers’ (“D&O”) insurance. The Company will maintain
    such D&O insurance coverage for the period through which claims can be made against such persons. The Company disclaims a right
    to distribution from the D&O insurance coverage with respect to such persons. In the event that the Company is unable to include
    Danforth under the Company’s policy or does not have first dollar coverage acceptable to Danforth in effect for at least $10
    million (e.g., such policy is not reserved based on actions that have been or are expected to be filed against officers and directors
    alleging prior acts that may give rise to a claim), Danforth may, at its option, attempt to purchase a separate D&O policy that
    will cover the Danforth staff only. The cost of same shall be invoiced to the Company as an out -of -pocket cash expense. If Danforth
    is unable to purchase such D&O insurance, then Danforth reserves the right to terminate the Agreement upon delivery of written
    notice.
	 	 
	15.	Independent
    Contractor. Danforth is not, nor shall Danforth be deemed to be at any time during the term of this Agreement, an employee of
    the Company, and therefore Danforth shall not be entitled to any benefits provided by the Company to its employees, if applicable.
    Danforth’s status and relationship with the Company shall be that of an independent contractor and consultant. Danforth shall
    not state or imply, directly or indirectly, that Danforth is empowered to bind the Company without the Company’s prior written
    consent. Nothing herein shall create, expressly or by implication, a partnership, joint venture or other association between the
    parties. Danforth will be solely responsible for payment of all charges and taxes arising from his or her relationship to the Company
    as a consultant. Except as expressly provided herein, nothing in this Agreement shall preclude Danforth from consulting for or being
    employed by any other person or entity.
	 	 
	16.	Records.
    Upon termination of Danforth’s relationship with the Company, Danforth shall deliver to the Company any property or Confidential
    Information of the Company relating to the Services which may be in its possession including products, project plans, materials,
    memoranda, notes, records, reports, laboratory notebooks, or other documents or photocopies and any such information stored using
    electronic medium.
	 	 
	17.	Notices.
    Any notice under this Agreement shall be in writing (except in the case of verbal communications, emails and teleconferences updating
    either Party as to the status of work hereunder) and shall be deemed delivered upon personal delivery, one day after being sent via
    a reputable nationwide overnight courier service or two days after deposit in the mail or on the next business day following transmittal
    via facsimile. Notices under this

 

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Agreement
shall be sent to the following representatives of the Parties:

 

If
to the Company:

 

	 	Name:	Ted
    Raad
	 	Title:	Chief
    Executive Officer
	 	Address:	99
    Hayden Avenue, Suite 390, Lexington, MA 02421
	 	Phone:	781-357-2333
	 	E-mail:	traad@Pulmatrix.com

 

If
to Danforth:

 

	 	Name:	Gregg
    Beloff
	 	Title:	Managing
    Director
	 	Address:	91
    Middle Road

Southborough, MA 01772
	 	Phone:	(617)
    686-7679
	 	E-mail:	gbeloff@danforthadvisors.com

 

	18.	Assignment
    and Successors. This Agreement may not be assigned by a Party without the consent of the other which consent shall not be unreasonably
    withheld, except that each Party may assign this Agreement and the rights, obligations and interests of such Party, in whole or in
    part, to any of its Affiliates, to any purchaser of all or substantially all of its assets or to any successor corporation resulting
    from any merger or consolidation of such Party with or into such corporation.
	 	 
	19.	Force
    Majeure. Neither Party shall be liable for failure of or delay in performing obligations set forth in this Agreement, and neither
    shall be deemed in breach of its obligations, if such failure or delay is due to natural disasters or any causes beyond the reasonable
    control of either Party. In the event of such force majeure, the Party affected thereby shall use reasonable efforts to cure or overcome
    the same and resume performance of its obligations hereunder.
	 	 
	20.	Headings.
    The Section headings are intended for convenience of reference only and are not intended to be a part of or to affect the meaning
    or interpretation of this Agreement.
	 	 
	21.	Integration;
    Severability. This Agreement is the sole agreement with respect to the subject matter hereof and shall supersede all other agreements
    and understandings between the Parties with respect to the same. If any provision of this Agreement is or becomes invalid or is ruled
    invalid by any court of competent jurisdiction or is deemed unenforceable, it is the intention of the Parties that the remainder
    of the Agreement shall not be affected.
	 	 
	22.	Governing
    Law. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, excluding
    choice of law principles. The Parties agree that any action or proceeding arising out of or related in any way to this Agreement
    shall be brought solely in a Federal or State court of competent jurisdiction sitting in the Commonwealth of Massachusetts.

 

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	23.	Amendments
    and Waivers. This Agreement may be amended or supplemented only by a written instrument duly executed by each of the Parties.
    No provision of this Agreement may be waived except by a written instrument signed by the Party hereto sought to be bound. No failure
    or delay by any Party in exercising any right or remedy hereunder or under applicable law will operate as a waiver thereof, and a
    waiver of a particular right or remedy on one occasion will not be deemed a waiver of any other light or remedy, or a waiver on any
    subsequent occasion.
	 	 
	24.	Counterparts.
    This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will constitute
    one agreement. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying
    with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall
    be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

If
you are in agreement with the foregoing, please sign where indicated below, whereupon this Agreement shall become effective as of the
Effective Date.

 

	DANFORTH
    ADVISORS, LLC	 	PULMATRIX,
    INC.
	 	 	 	 	 
	By:	/s/
    Chris Connors	 	By:	/s/
    Ted Raad
	 	 	 	 	 
	Print
    Name:	Chris
    Connors	 	Print
    Name: 	Ted
    Raad
	 	 	 	 	 
	Title:	Chief
    Executive Officer	 	Title:	Chief
    Executive Officer
	 	 	 	 	 
	Date:	11/30/2021	 	Date:	11/29/2021

 

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EXHIBIT
A

 

Schedule
of Fees

 

	Initial Staffing:	 	 	 	 	 
	 
Role
	 	 
Hourly Rate
	 	 	 
Function

	Sr. Advisor	 	 	$500/hour	 	 	Senior Advisory
	CFO	 	 	$400/hour	 	 	CFO
	Sr. Director	 	 	$355/hour	 	 	Principal Accounting Officer
	Sr. HR Director	 	 	$330/hour	 	 	Human Resources
	HR Director	 	 	$300/hour	 	 	Human Resources
	Director	 	 	$290/hour	 	 	VP Finance
	Sr HR Manager	 	 	$255/hour	 	 	Human Resources
	Sr Manager	 	 	$235/hour	 	 	Sr Controller/FP&A
	Manager	 	 	$195/hour	 	 	Controller
	HR Manager	 	 	$195/hour	 	 	Human Resources
	Sr. Consultant	 	 	$160/hour	 	 	Asst. Controller
	Consultant	 	 	$130/hour	 	 	Staff Accountant

 

Initial
Staffing will be Peter Ludlum, a Danforth Sr Director who has been interviewed and approved by management of the Company. Additional
personnel will be added in accordance with Section 1 of this Agreement.

 

    	8Exhibit 4.2

      

      
        

        

        TWIN RIDGE CAPITAL ACQUISITION CORP.

        DESCRIPTION OF SECURITIES

      

      

      

      The following summary of the material terms of the securities of Twin Ridge Capital Acquisition Corp. is not intended to be a complete summary of the rights and preferences of such securities and
        is subject to and qualified by reference to our amended and restated memorandum and articles of association incorporated by reference as an exhibit to the company’s Annual Report on Form 10-K for the year ended December 31, 2021 (the “Report”), and
        applicable Cayman Islands law. We urge you to read our amended and restated memorandum and articles of association in their entirety for a complete description of the rights and preferences securities.

       

      Certain Terms

       

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

       

      	

            	•	
              “amended and restated memorandum and article of association” are to the amended and restated memorandum and articles of association that the company adopted in connection with the consummation of our initial public offering;

            

       

      	

            	•	
              “Companies Act” are to the Companies Act (As Revised) of the Cayman Islands as the same may be amended from time to time;

            

       

      	

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

            

       

      	

            	•	
              “initial public offering” refers to our initial public offering units, consisting of one Class A ordinary share and one-third of one redeemable warrant;

            

       

      	

            	•	
              “management” or our “management team” are to our executive officers and directors;

            

       

      	

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

            

       

      	

            	•	
              “private placement warrants” are to the warrants issued to our sponsor in a private placement simultaneously with the closing of our initial public offering and upon conversion of working capital loans, if any;

            

       

      	

            	•	
              “public shares” are to our Class A ordinary shares sold as part of the units in our initial public offering (whether they are purchased in our initial public offering or thereafter in the open market);

            

       

      	

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

            

       

      	

            	•	
              “sponsor” are to Twin Ridge Capital Sponsor, LLC, a Delaware limited liability company;

            

       

      	

            	•	
              “warrants” are to our redeemable warrants, which includes the public warrants as well as the private placement warrants to the extent that they are no longer held by our sponsor or their permitted transferees; and

            

       

      
        	

              	•	
                “we,” “us,” “our,” “company” or “our company” are to Twin Ridge Capital Acquisition Corp., a Cayman Islands exempted company.

              

         

        

      

      
        F-1

        
          

      

      
        We are a Cayman Islands exempted company and our affairs are governed by our amended and restated memorandum and articles of association, the Companies Act and the common law of the Cayman
          Islands. Pursuant to our amended and restated memorandum and articles of association, which were adopted prior to the consummation of our initial public offering, we are authorized to issue 500,000,000 Class A ordinary shares and 50,000,000 Class
          B ordinary shares, as well as 1,000,000 preference shares, $0.0001 par value each. The following description summarizes the material terms of our shares as set out more particularly in our amended and restated memorandum and articles of
          association.

        

        

        Because this exhibit is only a summary, it may not contain all the information that is important to you.

        

        

      

      
        Units

         

      

      
        Each unit sold in our initial public offering had an offering price of $10.00 and consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the
          holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as described in the final prospectus relating to our initial public offering.

        

        

        Pursuant to the warrant agreement we entered into in connection with our initial public offering, a warrant holder may exercise its warrants only for a whole number of the company’s Class A
          ordinary shares. This means only a whole warrant may be exercised at any given time by a warrant holder.

        

        

        Holders of units will need to have their brokers contact our transfer agent in order to separate the units into Class A ordinary shares and warrants. No fractional warrants will be issued upon
          separation of the units and only whole warrants will trade. Accordingly, unless you purchase at least three units, you will not be able to receive or trade a whole warrant.

        

        

        Our units started separate trading on April 26, 2021. The units will automatically separate into their component parts and will not be traded after completion of our initial business combination.

        

        

      

      
        Ordinary Shares

         

      

      
        There are 5,327,203 Class B ordinary shares issued and outstanding, all of which are held of record by our sponsor and independent directors. Thereby, our sponsor and independent directors
          collectively will own approximately 20% of our issued and outstanding shares. As of the date of this Report, 26,636,016 of our ordinary shares are issued outstanding including:

      

       

      	

            	•	
              21,308,813 Class A ordinary shares underlying the units issued as part of our initial public offering; and

            

       

      	

            	•	
              5,327,203 Class B ordinary shares held by our initial shareholders.

            

       

      
        Ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders. Except as described below, holders of Class A ordinary shares and
          holders of Class B ordinary shares will vote together as a single class on all matters submitted to a vote of our shareholders except as required by law. Unless specified in our amended and restated memorandum and articles of association, or as
          required by applicable provisions of the Companies Act or applicable stock exchange rules, the affirmative vote of a majority of our ordinary shares that are voted is required to approve any such matter voted on by our shareholders. Approval of
          certain actions will require a special resolution under Cayman Islands law, being the affirmative vote of at least two-thirds of our ordinary shares that are voted, and pursuant to our amended and restated memorandum and articles of association;
          such actions include amending our amended and restated memorandum and articles of association and approving a statutory merger or consolidation with another company. Our board of directors is divided into three classes, each of which will
          generally serve for 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 shareholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. Prior to our initial business
          combination, only holders of our founder shares have the right to vote on the election of directors. Holders of our public shares are not entitled to vote on the election of directors during such time. In addition, prior to the completion of an
          initial business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. The provisions of our amended and restated memorandum and articles of association governing the appointment or
          removal of directors prior to our initial business combination may only be amended by a special resolution passed by not less than two-thirds of our ordinary shares who attend and vote at our shareholder meeting which shall include the
          affirmative vote of a simple majority of our Class B ordinary shares.

      

      
        

        

      

      
        F-2

        
          

      

      
        Because our amended and restated memorandum and articles of association authorize the issuance of up to 500,000,000 Class A ordinary shares, if we were to enter into a business combination, we
          may (depending on the terms of such a business combination) be required to increase the number of Class A ordinary shares which we will be authorized to issue at the same time as our shareholders vote on the business combination to the extent we
          seek shareholder approval in connection with our initial business combination.

        

        

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

        

        

      

      
        We will provide our public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination at a per-share price,
          payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business days prior to the consummation of our initial business combination, including interest earned on the funds held in the trust account
          and not previously released to us to pay our taxes, if any, divided by the number of the then-outstanding public shares, subject to the limitations described herein. The amount in the trust account is initially anticipated to be $10.00 per public
          share. The per share amount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting commissions we will pay to the underwriters. The redemption rights will include the requirement that a
          beneficial owner must identify itself in order to valid redeem its shares. Our sponsor and each member of our management team have entered into an agreement with us, pursuant to which they have agreed to waive their redemption rights with respect
          to any founder shares and public shares held by them in connection with (i) the completion of our initial business combination and (ii) a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association
          (A) that would modify the substance or timing of our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares
          if we do not complete our initial business combination within 24 months from the closing of our initial public offering, or March 3, 2023, or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary
          shares. Unlike many blank check companies that hold shareholder votes and conduct proxy solicitations in conjunction with their initial business combinations and provide for related redemptions of public shares for cash upon completion of such
          initial business combinations even when a vote is not required by law, if a shareholder vote is not required by applicable law or stock exchange listing requirements, if a shareholder vote is not required by applicable law or stock exchange
          listing requirements and we do not decide to hold a shareholder vote for business or other reasons, we will, pursuant to our amended and restated memorandum and articles of association, conduct the redemptions pursuant to the tender offer rules
          of the SEC, and file tender offer documents with the SEC prior to completing our initial business combination. Our amended and restated memorandum and articles of association require these tender offer documents to contain substantially the same
          financial and other information about the initial business combination and the redemption rights as is required under the SEC’s proxy rules. If, however, a shareholder approval of the transaction is required by applicable law or stock exchange
          listing requirements, or we decide to obtain shareholder approval for business or other reasons, we will, like many blank check companies, offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not
          pursuant to the tender offer rules. If we seek shareholder approval, we will complete our initial business combination only if a majority of the ordinary shares, represented in person or by proxy and entitled to vote thereon, voted at a
          shareholder meeting are voted in favor of the business combination. However, the participation of our sponsor, officers, Industry Advisors, directors or their affiliates in privately-negotiated transactions, if any, could result in the approval
          of our initial business combination even if a majority of our public shareholders vote, or indicate their intention to vote, against such initial business combination. For purposes of seeking approval of the majority of our issued and outstanding
          ordinary shares, non-votes will have no effect on the approval of our initial business combination once a quorum is obtained. Our amended and restated memorandum and articles of association require that at least five days’ notice will be given of
          any shareholder meeting.

      

      
        

        

      

      
        F-3

        
          

      

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

        

        

        If we seek shareholder approval, we will complete our initial business combination only if we obtain the approval of an ordinary resolution under Cayman Islands law, which requires the
          affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company where a quorum is present. In accordance with our amended memorandum and articles of association, shareholders representing at least
          one-third of our issued and outstanding ordinary shares, present in person or by proxy, constitute a quorum. In such case, our sponsor and each member of our management team have agreed to vote their founder shares and public shares in favor of
          our initial business combination. As a result, in addition to our sponsor’s founder shares, we would need 7,990,806, or 37.5% (assuming all issued and outstanding shares are voted), of the 21,308,813 public shares outstanding to be voted in favor
          of an initial business combination in order to have our initial business combination approved. Additionally, each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against the proposed transaction
          or vote at all.

        

        

      

      
        Pursuant to our amended and restated memorandum and articles of association, if we have not consummated an initial business combination within 24 months from the closing of our initial public
          offering, or March 3, 2023, we will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in
          cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our taxes, if any (less up to $100,000 of interest to pay
          dissolution expenses) divided by the number of the then-outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any);
          and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in the case of clauses (ii) and (iii), to our obligations
          under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. Our sponsor and each member of our management team have entered into an agreement with us, pursuant to which they have agreed to waive their
          rights to liquidating distributions from the trust account with respect to any founder shares they hold if we have not consummated an initial business combination until March 3, 2023 (although they are entitled to liquidating distributions from
          the trust account with respect to any public shares they hold if we fail to complete our initial business combination within the prescribed time frame). Our amended and restated memorandum and articles of association provide that, if we wind up
          for any other reason prior to the consummation of our initial business combination, we will follow the foregoing procedures with respect to the liquidation of the trust account as promptly as reasonably possible but not more than ten business
          days thereafter, subject to applicable Cayman Islands law.

      

      
        

        

      

      
        F-4

        
          

      

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

        

        

      

      
        Founder Shares

        

        

      

      
        The founder shares are designated as Class B ordinary shares and, except as described below, are identical to the Class A ordinary shares included in the units being sold in our initial public
          offering, and holders of founder shares have the same shareholder rights as public shareholders, except that: (a) prior to our initial business combination, only holders of the founder shares have the right to vote on the election of directors
          and holders of a majority of our founder shares may remove a member of the board of directors for any reason; (b) the founder shares are subject to certain transfer restrictions, as described in more detail below; (c) our sponsor and each member
          of our management team have entered into an agreement with us, pursuant to which they have agreed to (i) waive their redemption rights with respect to their founder shares (ii) waive their redemption rights with respect to their founder shares
          and public shares in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our Class A
          ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of our
          initial public offering, or March 3, 2023, or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares; and (iii) waive their rights to liquidating distributions from the trust account with respect
          to any founder shares they hold if we fail to consummate an initial business combination until March 3, 2023 (although they are entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to
          complete our initial business combination within the prescribed time frame); (d) the founder shares will automatically convert into our Class A ordinary shares at the time of our initial business combination or earlier at the option of the
          holders thereof as described herein; and (e) the founder shares are entitled to registration rights. If we seek shareholder approval, we will complete our initial business combination only if a majority of the ordinary shares, represented in
          person or by proxy and entitled to vote thereon, voted at a shareholder meeting are voted in favor of the business combination. In such case, our sponsor and each member of our management team have agreed to vote their founder shares and public
          shares in favor of our initial business combination.

        

        

      

      
        The founder shares are designated as Class B ordinary shares and will automatically convert into Class A ordinary shares (which such Class A ordinary shares delivered upon conversion will not
          have redemption rights or be entitled to liquidating distributions from the trust account if we do not consummate an initial business combination) at the time of our initial business combination or earlier at the option of the holders thereof at
          a ratio such that the number of Class A ordinary shares issuable upon conversion of all founder shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of ordinary shares issued and outstanding upon
          completion of our initial public offering, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the Company in
          connection with or in relation to the consummation of the initial business combination, excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued, or to be
          issued, to any seller in the initial business combination and any private placement warrants issued to our sponsor, its affiliates or any member of our management team upon conversion of working capital loans. In no event will the Class B
          ordinary shares convert into Class A ordinary shares at a rate of less than one-to-one.

        

        

      

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

        

        

      

      
        F-5

        
          

      

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

        

        

      

      
        Preference Shares

         

      

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

        

        

      

      
        Warrants

         

        Public Shareholders’ Warrants

         

      

      
        Each whole warrant entitles the registered holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as discussed below, at any time commencing on the
          later of one year from the closing of our initial public offering and 30 days after the completion of our initial business combination, except as discussed in the immediately succeeding paragraph. Pursuant to the warrant agreement, a warrant
          holder may exercise its warrants only for a whole number of Class A ordinary shares. This means only a whole warrant may be exercised at a given time by a warrant holder. No fractional warrants will be issued upon separation of the units and only
          whole warrants will trade. Accordingly, unless you purchase at least three 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 ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement
          under the Securities Act with respect to the Class A ordinary shares underlying the warrants is then effective and a prospectus relating thereto is current, subject to our satisfying our obligations described below with respect to registration,
          or a valid exemption from registration is available. No warrant will be exercisable and we will not be obligated to issue a Class A ordinary share upon exercise of a warrant unless the Class A ordinary share issuable upon such warrant exercise
          has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with
          respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event will we be required to net cash settle any warrant. In the event that a
          registration statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase price for the unit solely for the Class A ordinary share underlying such unit.

        

        

      

      
        F-6

        
          

      

      
        We have agreed that as soon as practicable, but in no event later than twenty business days after the closing of our initial business combination, we will use our commercially reasonable
          efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the warrants, and we will use our commercially reasonable efforts to cause the same to
          become effective within 60 business days after the closing of our initial business combination, and to maintain the effectiveness of such registration statement and a current prospectus relating to those Class A ordinary shares until the warrants
          expire or are redeemed, as specified in the warrant agreement; provided that if our Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a
          “covered security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of public warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in
          the event we so elect, we will not be required to file or maintain in effect a registration statement, but we will use our commercially reasonably efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption
          is not available. If a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective by the 60th day after the closing of the 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, but we will use our commercially reasonably efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. In such event, each holder would pay the exercise price by
          surrendering the warrants for that number of Class A ordinary shares equal to the lesser of (A) the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the
          “fair market value” (as defined below) less the exercise price of the warrants by (y) the fair market value and (B) 0.361. The “fair market value” as used in this paragraph shall mean the volume weighted average price of the Class A ordinary
          shares for the 10 trading days ending on the trading day prior to the date on which the notice of exercise is received by the warrant agent.

      

      
        

        

      

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

      

       

      	

            	•	
              in whole and not in part;

            

       

      	

            	•	
              at a price of $0.01 per warrant;

            

       

      	

            	•	
              upon a minimum of 30 days’ prior written notice of redemption to each warrant holder; and

            

       

      	

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

            

       

      
        We will not redeem the warrants as described above unless a registration statement under the Securities Act covering the issuance of the Class A ordinary shares issuable upon exercise of the
          warrants is then effective and a current prospectus relating to those Class A ordinary shares is available throughout the 30-day redemption period. If and when the warrants become redeemable by us, we may exercise our redemption right even if we
          are unable to register or qualify the underlying securities for sale under all applicable state securities laws.

        

        

      

      If we call the warrants for redemption as described above, our management will have the option to require all holders that wish to exercise warrants 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 shareholders of
        issuing the maximum number of Class A ordinary shares issuable upon the exercise of our warrants. In such event, each holder would pay the exercise price by surrendering the warrants for that number of Class A ordinary shares equal to the quotient
        obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the “fair market value” of our Class A ordinary shares less the exercise price of the warrants by (y) the fair market value.

       

      
        F-7

        
          

      

      
        We have established the last of the redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the warrant exercise price.
          If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrant holder will be entitled to exercise his, her or its warrant prior to the scheduled redemption date. However, the price of the Class A
          ordinary shares may fall below the $18.00 redemption trigger price (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described under the heading “—Warrants—Public Shareholders’
          Warrants—Anti-Dilution Adjustments”) as well as the $11.50 (for whole shares) warrant exercise price after the redemption notice is issued.

        

        

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

        

        

        Anti-Dilution Adjustments. If
            the number of outstanding Class A ordinary shares is increased by a capitalization or share dividend paid in Class A ordinary shares to all or substantially all holders of Class A ordinary shares, or by a sub-division of Class A ordinary shares
            or other similar event, then, on the effective date of such capitalization or share dividend, sub-division or similar event, the number of Class A ordinary shares issuable on exercise of each warrant will be increased in proportion to such
            increase in the outstanding Class A ordinary shares.

        

        

        In addition, if we, at any time while the warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to all or substantially all of the
          holders of the Class A ordinary shares on account of such Class A ordinary shares (or other securities into which the warrants are convertible), other than (a) as described above, (b) any cash dividends or cash distributions which, when combined
          on a per share basis with all other cash dividends and cash distributions paid on the Class A ordinary shares during the 365-day period ending on the date of declaration of such dividend or distribution does not exceed $0.50 (as adjusted to
          appropriately reflect any other adjustments and excluding cash dividends or cash distributions that resulted in an adjustment to the exercise price or to the number of Class A ordinary shares issuable on exercise of each warrant) but only with
          respect to the amount of the aggregate cash dividends or cash distributions equal to or less than $0.50 per share, (c) to satisfy the redemption rights of the holders of Class A ordinary shares in connection with a proposed initial business
          combination, (d) to satisfy the redemption rights of the holders of Class A ordinary shares in connection with a shareholder vote to amend our amended and restated memorandum and articles of association (A) to modify the substance or timing of
          our obligation to provide holders of our Class A ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business
          combination within 24 months from the closing of our initial public offering, or March 3, 2023, or (B) with respect to any other provision relating to the rights of holders of our Class A ordinary shares, (e) as a result of the repurchase of
          Class A ordinary shares by us if a proposed initial business combination is presented to our shareholders for approval, or (f) in connection with the redemption of our public shares upon our failure to complete our initial business combination,
          then the warrant exercise price will be decreased, effective immediately after the effective date of such event, by the amount of cash and/or the fair market value of any securities or other assets paid on each Class A ordinary share in respect
          of such event.

      

      

      

      
        If the number of outstanding Class A ordinary shares is decreased by a consolidation, combination, reverse share split or reclassification of Class A ordinary shares or other similar event, then,
          on the effective date of such consolidation, combination, reverse share split, reclassification or similar event, the number of Class A ordinary shares issuable on exercise of each warrant will be decreased in proportion to such decrease in
          outstanding Class A ordinary shares.

        

        

        Whenever the number of Class A ordinary shares purchasable upon the exercise of the warrants is adjusted, as described above, the warrant exercise price will be adjusted by multiplying the
          warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which will be the number of Class A ordinary shares purchasable upon the exercise of the warrants immediately prior to such adjustment and (y) the
          denominator of which will be the number of Class A ordinary shares so purchasable immediately thereafter.

        

        

      

      
        F-8

        
          

      

      
        In addition, if (x) we issue additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of our initial business combination at an
          issue price or effective issue price of less than $9.20 per ordinary share (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our sponsor or its
          affiliates, without taking into account any founder shares held by our sponsor or such affiliates, as applicable, prior to such issuance) (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 ordinary shares 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, the $18.00 per share redemption trigger price described above under “—Redemption of warrants when the
          price per Class A ordinary share equals or exceeds $18.00” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price.

        

        

      

      
        In case of any reclassification or reorganization of the outstanding Class A ordinary shares (other than those described above or that solely affects the par value of such Class A ordinary
          shares), or in the case of any merger or consolidation of us with or into another corporation (other than a consolidation or merger in which we are the continuing corporation and that does not result in any reclassification or reorganization of
          our outstanding Class A ordinary shares), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of us as an entirety or substantially as an entirety in connection with which we are dissolved,
          the holders of the warrants will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the warrants and in lieu of the Class A ordinary shares immediately theretofore purchasable and
          receivable upon the exercise of the rights represented thereby, the kind and amount of Class A ordinary shares or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or
          upon a dissolution following any such sale or transfer, that the holder of the warrants would have received if such holder had exercised their warrants immediately prior to such event.

        

        

      

      
        The warrants were issued in registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. The warrant agreement provides that the
          terms of the warrants may be amended without the consent of any holder for the purpose of (i) curing any ambiguity or correct any mistake, including to conform the provisions of the warrant agreement to the description of the terms of the
          warrants and the warrant agreement set forth herein, or defective provision, (ii) amending the provisions relating to cash dividends on ordinary shares as contemplated by and in accordance with the warrant agreement or (iii) adding or changing
          any provisions with respect to matters or questions arising under the warrant agreement as the parties to the warrant agreement may deem necessary or desirable and that the parties deem to not adversely affect the rights of the registered holders
          of the warrants, provided that the approval by the holders of at least 50% of the then-outstanding public warrants is required to make any change that adversely affects the interests of the registered holders. You should review a copy of the
          warrant agreement, which is filed as an exhibit of the Report, for a complete description of the terms and conditions applicable to the warrants.

        

        

        The warrant holders do not have the rights or privileges of holders of ordinary shares and any voting rights until they exercise their warrants and receive Class A ordinary shares. After the
          issuance of Class A ordinary shares upon exercise of the warrants, each holder will be entitled to one vote for each share held of record on all matters to be voted on by shareholders.

        

        

        No fractional warrants will be issued upon separation of the units and only whole warrants will trade. 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 Class A ordinary shares 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.
          See “Item 1.A Risk Factors — Our warrant agreement designates the courts of the State of New York or the United States District Court for the Southern District of New York as the sole and exclusive forum for
            certain types of actions and proceedings that may be initiated by holders of our warrants, which could limit the ability of warrant holders to obtain a favorable judicial forum for disputes with our company” in the Report. 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.

        

        

      

      
        F-9

        
          

      

      
        Private Placement Warrants

         

      

      
        Except as described below, the private placement warrants have terms and provisions that are identical to those of the warrants being sold as part of the units in our initial public offering.
          The private placement warrants (including the Class A ordinary shares issuable upon exercise of the private placement warrants) are not transferable, assignable or salable until 30 days after the completion of our initial business combination
          (except pursuant to limited exceptions as described under “Principal Shareholders—Transfers of Founder Shares and Private Placement Warrants,” to our officers and directors and other persons or entities affiliated with the initial purchasers of
          the private placement warrants) and they are not redeemable by us. Our sponsor, or its permitted transferees, has the option to exercise the private placement warrants on a cashless basis. Any amendment to the terms of the private placement
          warrants or any provision of the warrant agreement with respect to the private placement warrants will require a vote of holders of at least 50% of the number of the then outstanding private placement warrants.

      

      
        

        

      

      
        If holders of the private placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering his, her or its warrants for that number of Class A
          ordinary shares equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the “Sponsor fair market value” over the exercise price of the warrants by
          (y) the Sponsor fair market value. For these purposes, the “Sponsor fair market value” shall mean the average reported closing price of the Class A ordinary shares for the 10 trading days ending on the third trading day prior to the date on which
          the notice of warrant exercise is sent to the warrant agent. The reason that we have agreed that these warrants are exercisable on a cashless basis so long as they are held by our sponsor and its permitted transferees is because it is not known
          at this time whether they will be affiliated with us following a business combination. If they remain affiliated with us, their ability to sell our securities in the open market will be significantly limited. We expect to have policies in place
          that restrict insiders from selling our securities except during specific periods of time. Even during such periods of time when insiders will be permitted to sell our securities, an insider cannot trade in our securities if he or she is in
          possession of material non-public information. Accordingly, unlike public shareholders who could exercise their warrants and sell the Class A ordinary shares received upon such exercise freely in the open market in order to recoup the cost of
          such exercise, the insiders could be significantly restricted from selling such securities. As a result, we believe that allowing the holders to exercise such warrants on a cashless basis is appropriate.

        

        

        Our sponsor or an affiliate of our sponsor or certain of our officers and directors have the right, but not the obligation, to loan us funds interest free and on substantially the same terms as
          our existing promissory note. Up to $1,500,000 of such loans, which we have agreed to incur and which are due upon the earlier of our liquidation or the consummation of our initial business combination, may be convertible into warrants of the
          post business combination entity at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the private placement warrants.

        

        

      

      
        Dividends

         

      

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

        

        

      

      
        Our Transfer Agent and Warrant Agent

         

      

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

        

        

      

      
        F-10

        
          

      

      
        Certain Differences in Corporate Law

         

      

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

        

        

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

        

        

        Where the merger or consolidation is between two Cayman Islands companies, the directors of each company must approve a written plan of merger or consolidation containing certain prescribed
          information. That plan or merger or consolidation must then be authorized by either (a) a special resolution (usually a majority of 662∕3% in value of the voting
          shares voted at a shareholder meeting) of the shareholders of each company; or (b) such other authorization, if any, as may be specified in such constituent company’s articles of association. No shareholder resolution is required for a merger
          between a parent company (i.e., a company that owns at least 90% of the issued shares of each class in a subsidiary company) and its subsidiary company. The consent of each holder of a fixed or floating security interest of a constituent company
          must be obtained, unless the court waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the requirements of the Companies Act (which includes certain other formalities) have been complied with, the Registrar of
          Companies will register the plan of merger or consolidation.

        

        

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

        

        

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

        

        

      

      
        F-11

        
          

      

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

        

        

      

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

      

       

      	

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

            

       

      	

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

            

       

      	

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

            

       

      	

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

            

       

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

        

        

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

        

        

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

        

        

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

         

          

      

      
        F-12

        
          

      

      	

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

            

       

      	

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

            

       

      	

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

            

       

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

        

        

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

        

        

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

        

        

        Special Considerations for Exempted Companies. We are an exempted company with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies and exempted companies. Any company that is registered in the Cayman Islands but
            conducts business mainly outside of the Cayman Islands may apply to be registered as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except for the exemptions and privileges
            listed below:

      

       

      	

            	•	
              an exempted company does not have to file an annual return of its shareholders with the Register of Companies;

            

       

      	

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

            

       

      	

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

            

       

      	

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

            

       

      	

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

            

       

      	

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

            

       

      	

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

            

       

      	

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

            

      
        

        

        “Limited liability” means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in exceptional circumstances, such as
          involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

        

        

      

      
        F-13

        
          

      

      
        Amended and Restated Memorandum and Articles of Association Our amended and restated memorandum and articles of association contain provisions designed to provide certain rights and protections relating to our initial public offering that will apply to us until
            the completion of our initial business combination. These provisions cannot be amended without a special resolution under Cayman Islands law. As a matter of Cayman Islands law, a resolution is deemed to be a special resolution where it has been
            approved by either (i) the affirmative vote of at least two-thirds (or any higher threshold specified in a company’s articles of association) of a company’s shareholders entitled to vote and so voting at a shareholder meeting for which notice
            specifying the intention to propose the resolution as a special resolution has been given; or (ii) if so authorized by a company’s articles of association, by a unanimous written resolution of all of the company’s shareholders. Other than as
            described above, our amended and restated memorandum and articles of association provide that special resolutions must be approved either by at least two-thirds of our shareholders who attend and vote at a shareholder meeting of the company
            (i.e., the lowest threshold permissible under Cayman Islands law), or by a unanimous written resolution of all of our shareholders.

        

        

         Our sponsor and its permitted transferees, if any, who collectively beneficially own 20% of our ordinary shares upon the closing of our initial public offering, will participate in any vote to
          amend our amended and restated memorandum and articles of association and will have the discretion to vote in any manner they choose. Specifically, our amended and restated memorandum and articles of association provide, among other things, that:

      

       

      
        	 	
                •

              	
                If we have not consummated an initial business combination within 24 months from the closing of our initial public offering, or March 3, 2023, we will (i) cease all
                    operations except for the purpose of winding up; (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then
                    on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our taxes that were paid by us or are payable by us, if any (less up to $100,000 of interest to
                    pay dissolution expenses) divided by the number of the then-outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation
                    distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in the case of clauses
                    (ii) and (iii) to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law;

              

      

       

      	

            	•	
              Prior to or in connection with our initial business combination, we may not issue additional securities that would entitle the holders thereof to (i) receive funds from the trust account or (ii) vote as a
                class with our public shares (a) on our initial business combination or on any other proposal presented to shareholders prior to or in connection with the completion of an initial business combination or (b) to approve an amendment to our
                amended and restated memorandum and articles of association to (x) extend the time we have to consummate a business combination beyond March 3, 2023 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, our officers or our Industry Advisors, 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 independent investment banking firm or another independent entity that commonly renders valuation opinions
                that such a business combination is fair to our company from a financial point of view;

            

       

      	

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

            

       

      	

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

            

       

      

      
        F-14

        
          

      

      	

            	•	
              If our shareholders approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of our Class A
                ordinary shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination until March 3, 2023 or (B) with
                respect to any other provision relating to the rights of holders of our Class A ordinary shares, we will provide our public shareholders with the opportunity to redeem all or a portion of their ordinary shares upon such approval at a
                per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our taxes, if any, divided by
                the number of the then-outstanding public shares, subject to the limitations described herein; and

            

       

      	

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

            

       

      	

            	•	
              Our amended and restated memorandum and articles of association provide that unless we consent in writing to the selection of an alternative forum, the courts of the Cayman Islands shall have exclusive jurisdiction over any claim or
                dispute arising out of or in connection with our amended and restated memorandum and articles of association or otherwise related in any way to each shareholder’s shareholding in us, including but not limited to (i) any derivative action or
                proceeding brought on our behalf, (ii) any action asserting a claim of breach of any fiduciary or other duty owed by any of our current or former director, officer or other employee to us or our shareholders, (iii) any action asserting a
                claim arising pursuant to any provision of the Companies Act or our amended and restated memorandum and articles of association, or (iv) any action asserting a claim against us governed by the internal affairs doctrine (as such concept is
                recognized under the laws of the United States of America) and that each shareholder irrevocably submits to the exclusive jurisdiction of the courts of the Cayman Islands over all such claims or disputes. Our amended and restated memorandum
                and articles of association also provide that, without prejudice to any other rights or remedies that we may have, each of our shareholders acknowledges that damages alone would not be an adequate remedy for any breach of the selection of
                the courts of the Cayman Islands as exclusive forum and that accordingly we shall be entitled, without proof of special damages, to the remedies of injunction, specific performance or other equitable relief for any threatened or actual
                breach of the selection of the courts of the Cayman Islands as exclusive forum. The forum selection provision in our amended and restated memorandum and articles of association will not apply to actions or suits brought to enforce any
                liability or duty created by the Securities Act, Exchange Act or any claim for which the federal district courts of the United States of America are, as a matter of the laws of the United States of America, the sole and exclusive forum for
                determination of such a claim.

            

       

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

        

        

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

      

      

      

      
        Anti-Money Laundering—Cayman Islands

         

      

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

        

        

      

      
        F-15

        
          

      

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

         

      

      
        Our amended and restated memorandum and articles of association provide that our board of directors is be 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 shareholder meetings.

        

        

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

        

        

      

      
        Securities Eligible for Future Sale

         

      

      
        We have 26,636,016 Class A ordinary shares issued and outstanding on an as-converted basis. Of these shares, 21,308,813 Class A ordinary shares sold in our initial public offering are freely
          tradable without restriction or further registration under the Securities Act, except for any Class A ordinary shares purchased by one of our affiliates within the meaning of Rule 144 under the Securities Act. All of the outstanding founder
          shares (5,327,203 founder shares) and all of the outstanding private placement warrants (5,107,842 private placement warrants) are restricted securities under Rule 144, in that they were issued in private transactions not involving a public
          offering.

        

        

      

      
        Rule 144

        

        

      

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

        

        

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

      

       

      	

            	•	
              1% of the total number of ordinary shares then-outstanding, which equals 213,088 shares immediately ; or

            

       

      	

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

            

       

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

        

        

      

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

         

      

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

      

       

      	

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

            

       

      	

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

            

       

      	

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

            

       

      	

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

            

       

      
        F-16

        
          

      

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

        

        

      

      
        Registration and Shareholder Rights

         

      

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

        

        

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

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

        

        

      

      
        Listing of Securities

        

        

      

      
        Our units, Class A ordinary and warrants are each traded on the NYSE under the symbols “TRCA.U,” “TRCA” and “TRCA WS,” respectively. Our units commenced public trading on March 4, 2021. Our Class
          A ordinary shares and warrants began separate trading on April 26, 2022. The units that have not been separated into their components by their holders will automatically separate and will not be traded following the completion of our initial
          business combination.

        

        

        

        

        F-17

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