Document:

Exhibit 4.2

 

VENUS ACQUISITION CORPORATION RIGHTS
AGREEMENT

 

This Rights Agreement
(this “Agreement”) is made as of February 8, 2021 between Venus Acquisition Corporation, a Cayman Islands company with
offices at 477 Madison Avenue, 6th Floor, New York, New York 10022 (the “Company”) and Vstock Transfer,
LLC, a New York limited liability company, with offices at 18 Lafayette Place, Woodmere, New York 11598 (“Rights Agent”).

 

WHEREAS, the Company
is engaged in an initial public offering (the “Public Offering”) of units of the Company’s equity securities
(each, a “Unit” and collectively, the “Units”) through Ladenburg Thalmann & Co., Inc. (the “Representative”),
as representative of the several underwriters (the “Underwriters”), each such Unit comprised of: (i) one ordinary share
of the Company, par value $.0001 per share (“Ordinary Share”); (ii) one redeemable warrant, each whole warrant entitling
the holder thereof to purchase one-half Ordinary Share; and (iii) one right to receive one-tenth (1/10) of one Ordinary Share (the
“Public Rights”) upon the happening of an Exchange Event (as defined below in Section 3.2), and in connection therewith,
the Company has determined to issue and deliver up to 4,600,000 Public Rights (including up to 600,000 Public Rights subject to
the over-allotment option) to public investors in the Public Offering; and

 

WHEREAS, on February
8, 2021, the Company entered into certain Private Placement Unit Subscription Purchase Agreement with Yolanda Management Corporation
(the “Sponsor”), pursuant to which the Sponsor agreed to purchase an aggregate of 215,000 Private Placement Units (or
225,000 Private Placement Units if the over-allotment option is exercised in full by the Underwriters) simultaneously with the
closing of the Public Offering at a purchase price of $10.00 per Unit and in connection therewith, will issue and deliver up to
an aggregate of 215,000 rights (or 225,000 if the over-allotment option is exercised in full by the Underwriters) (“Private
Placement Rights”); and

 

WHEREAS, in order to
finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined in the Company’s
Amended and Restated Memorandum and Articles of Association), the Sponsor or an affiliate of the Sponsor or certain of the Company’s
officers and directors may, but are not obligated to, loan to the Company funds as the Company may require, of which up to $1,500,000
may be converted into up to an additional 150,000 Units (“Private Placement Units”) at a price of $10.00 per Unit,
and in connection therewith, the Company will issue and deliver up to an aggregate of 150,000 rights as part of such Private Unit
(the “Working Capital Rights”); and

 

WHEREAS, the Company
may issue additional rights from time to time that are to be governed by this Agreement (“Post-IPO Rights” and together
with the Private Placement Rights, the Working Capital Rights and the Public Rights, the “Rights”) in connection with,
or following the consummation by the Company of, a Business Combination; and

 

WHEREAS, the Company
has filed with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-1, File No. 333-251507
(the “Registration Statement”), and the prospectus forming a part thereof (collectively, the “Prospectus”),
for the registration under the Securities Act of 1933, as amended, of the Units, each of the securities comprising the Units, and
the Ordinary Shares underlying the Units including the Public Rights and which Registration Statement has been declared effective
by the SEC; and

 

WHEREAS, the Company
desires the Rights Agent to act on behalf of the Company, and the Rights Agent is willing to so act, in connection with the issuance,
registration, transfer and exchange of the Rights; and

 

WHEREAS, the Company
desires to provide for the form and provisions of the Rights, the terms upon which they shall be issued, and the respective rights,
limitation of rights, and immunities of the Company, the Rights Agent, and the holders of the Rights; and

 

WHEREAS, all acts and
things have been done and performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned
by or on behalf of the Rights Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize
the execution and delivery of this Agreement.

 

     

    

    

 

NOW, THEREFORE,
in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. Appointment
of Rights Agent. The Company hereby appoints the Rights Agent to act as agent for the Company for the Rights, and the Rights
Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this
Agreement.

 

2. Rights.

 

2.1. Form
of Right. Each Right shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto,
the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the
Board and the Secretary of the Company and shall bear a facsimile of the Company’s seal. In the event the person whose facsimile
signature has been placed upon any Right shall have ceased to serve in the capacity in which such person signed the Right before
such Right is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2. Effect
of Countersignature. Unless and until countersigned by the Rights Agent pursuant to this Agreement, a Right shall be invalid
and of no effect and may not be exchanged for Ordinary Shares.

 

2.3. Registration.

 

2.3.1. Right
Register. The Rights Agent shall maintain books (“Right Register”) for the registration of original issuance and
the registration of transfer of the Rights. Upon the initial issuance of the Rights, the Rights Agent shall issue and register
the Rights in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered
to the Rights Agent by the Company.

 

2.3.2. Registered
Holder. Prior to due presentment for registration of transfer of any Right, the Company and the Rights Agent may deem and treat
the person in whose name such Right shall be registered upon the Right Register (“Registered Holder”) as the absolute
owner of such Right and of each Right represented thereby (notwithstanding any notation of ownership or other writing on the Right
Certificate made by anyone other than the Company or the Rights Agent), for the purpose of the exchange thereof, and for all other
purposes, and neither the Company nor the Rights Agent shall be affected by any notice to the contrary.

 

2.4.  Detachability
of Rights. The securities comprising the Units, including the Rights, will begin to trade separately on (i) the first trading
day following the 52nd day after the effectiveness of the Registration Statement, or (ii) such earlier date as the Representative
shall determine is acceptable. In no event will separate trading of the securities comprising the Units commence until the Company
(i) files a Current Report on Form 8-K with the SEC including an audited balance sheet reflecting the Company’s receipt of
the gross proceeds of the Public Offering and (ii) issues a press release announcing when such separate trading will begin.

 

3. Terms
and Exchange of Rights

 

3.1. Rights.
Except in cases where the Company is not the surviving entity after the occurrence of an Exchange Event, each holder of a Right
shall automatically receive one-tenth of one Ordinary Share upon consummation of an Exchange Event. No additional consideration
shall be paid by a holder of Rights in order to receive his, her or its Ordinary Shares upon an Exchange Event, as the purchase
price for such Ordinary Shares has been included in the purchase price for the Units. In no event will the Company be required
to net cash settle the Rights or issue fractional Ordinary Shares. The provisions of this Section 3.1 may not be modified, amended
or deleted without the prior written consent of the Representative.

 

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3.2. Exchange
Event. An “Exchange Event” shall be deemed to occur automatically upon the Company’s consummation of an initial
Business Combination.

 

3.3. Exchange
of Rights.

 

3.3.1. Issuance
of Certificates. As soon as practicable upon the occurrence of an Exchange Event, the Company shall direct holders of the Rights
to return their Rights Certificates to the Rights Agent. Upon receipt of a valid Rights Certificate, the Company shall make (or
cause to be made) entries in its Register of Members of the Company and issue to the Registered Holder of such Right(s) a certificate
or certificates for the number of full Ordinary Shares to which he, she or it is entitled, registered in such name or names as
may be directed by him, her or it. The Company shall not issue fractional shares upon exchange of Rights. At the time of an Exchange
Event, the Company will either instruct the Rights Agent to round down to the nearest whole Ordinary Share or otherwise inform
it how fractional shares will be addressed in accordance with Cayman Islands law.

 

3.3.2. Valid
Issuance. All Ordinary Shares issued upon an Exchange Event in conformity with this Agreement and the Amended and Restated
Memorandum and Articles of Association of the Company shall be validly issued, fully paid and nonassessable.

 

3.3.3. Date
of Issuance. Each person in whose name any such certificate for Ordinary Shares is issued shall for all purposes be deemed
to have become the holder of record of such Ordinary Shares on the date that the person’s name is entered in the Register
of Members of the Company, which shall be the date of the Exchange Event, irrespective of the date of delivery of such certificate.

 

3.3.4 Company
Not Surviving Following Exchange Event. Upon an Exchange Event in which the Company does not continue as the surviving entity,
each holder of a Right will be required to affirmatively convert his, her or its Rights in order to receive the 1/10 of an Ordinary
Share underlying each Right (without paying any additional consideration) upon consummation of the Exchange Event. Each holder
of a Right will be required to indicate his, her or its election to convert the Rights into the underlying Ordinary Shares as well
as to return the original certificates evidencing the Rights to the Company.

 

3.4 Duration
of Rights. If an Exchange Event does not occur within the time period set forth in the Company’s Amended and Restated
Memorandum and Articles of Association, as the same may be amended from time to time, the Rights shall expire and shall be worthless.

 

4. Transfer
and Exchange of Rights.

 

4.1.  Registration
of Transfer. The Rights Agent shall register the transfer, from time to time, of any outstanding Right upon the Right Register,
upon surrender of such Right for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate
instructions for transfer. Upon any such transfer, a new Right representing an equal aggregate number of Rights shall be issued
and the old Right shall be cancelled by the Rights Agent. The Rights so cancelled shall be delivered by the Rights Agent to the
Company from time to time upon request.

 

4.2.  Procedure
for Surrender of Rights. Rights may be surrendered to the Rights Agent, together with a written request for exchange or transfer,
and thereupon the Rights Agent shall issue in exchange therefor one or more new Rights as requested by the Registered Holder of
the Rights so surrendered, representing an equal aggregate number of Rights; provided, however, that in the event that a Right
surrendered for transfer bears a restrictive legend, the Rights Agent shall not cancel such Right and issue new Rights in exchange
therefor until the Rights Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating
whether the new Rights must also bear a restrictive legend.

 

4.3.  Fractional
Rights. The Rights Agent shall not be required to effect any registration of transfer or exchange which will result in the
issuance of a Right Certificate for a fraction of a Right.

 

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4.4. Service
Charges. No service charge shall be made for any exchange or registration of transfer of Rights.

 

4.5. Right
Execution and Countersignature. The Rights Agent is hereby authorized to countersign and to deliver, in accordance with the
terms of this Agreement, the Rights required to be issued pursuant to the provisions of this Section 4, and the Company, whenever
required by the Rights Agent, will supply the Rights Agent with Rights duly executed on behalf of the Company for such purpose.

 

5. Other
Provisions Relating to Rights of Holders of Rights.

 

5.1.  No
Rights as Shareholder. Until exchange of a Right for Ordinary Shares as provided for herein, a Right does not entitle the Registered
Holder thereof to any of the rights of a shareholder of the Company, including, without limitation, the right to receive dividends,
or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of
the meetings of shareholders or the election of directors of the Company or any other matter.

 

5.2.  Lost,
Stolen, Mutilated, or Destroyed Rights. If any Right is lost, stolen, mutilated, or destroyed, the Company and the Rights Agent
may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated
Right, include the surrender thereof), issue a new Right of like denomination, tenor, and date as the Right so lost, stolen, mutilated,
or destroyed. Any such new Right shall constitute a substitute contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated, or destroyed Right shall be at any time enforceable by anyone.

 

5.3. 
Reservation of Ordinary Shares. The Company shall at all times reserve and keep available a number of its authorized but
unissued Ordinary Shares that will be sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

5.4.  Adjustments
to Conversion Ratios. The number of Ordinary Shares that the holders of Rights are entitled to receive as a result of the occurrence
of an Exchange Event shall be equitably adjusted to reflect appropriately the effect of any share split, share dividend, reorganization,
recapitalization, reclassification, combination, exchange of shares or other like change with respect to the Ordinary Shares occurring
on or after the date hereof and prior to the Exchange Event.

 

6. Concerning
the Rights Agent and Other Matters.

 

6.1.  Payment
of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the
Rights Agent in respect of the issuance or delivery of Ordinary Shares upon the exchange of Rights, but the Company shall not be
obligated to pay any transfer taxes in respect of the Rights or such Ordinary Shares.

 

6.2.  Resignation,
Consolidation, or Merger of Rights Agent.

 

6.2.1. Appointment
of Successor Rights Agent. The Rights Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the
office of the Rights Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Rights Agent in place of the Rights Agent. If the Company shall fail to make such appointment within a period of 30
days after it has been notified in writing of such resignation or incapacity by the Rights Agent or by the holder of the Right
(who shall, with such notice, submit his, her or its Right for inspection by the Company), then the holder of any Right may apply
to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Rights Agent at the
Company’s cost. Any successor Rights Agent, whether appointed by the Company or by such court, shall be a corporation organized
and existing under the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan,
City and State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination
by federal or state authority. After appointment, any successor Rights Agent shall be vested with all the authority, powers, rights,
immunities, duties, and obligations of its predecessor Rights Agent with like effect as if originally named as Rights Agent hereunder,
without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Rights Agent shall
execute and deliver, at the expense of the Company, an instrument transferring to such successor Rights Agent all the authority,
powers, and rights of such predecessor Rights Agent hereunder; and upon request of any successor Rights Agent the Company shall
make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming
to such successor Rights Agent all such authority, powers, rights, immunities, duties, and obligations.

 

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6.2.2. Notice
of Successor Rights Agent. In the event a successor Rights Agent shall be appointed, the Company shall give notice thereof
to the predecessor Rights Agent and the transfer agent for the Ordinary Shares not later than the effective date of any such appointment.

 

6.2.3. Merger
or Consolidation of Rights Agent. Any corporation into which the Rights Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Rights Agent shall be a party shall be the successor
Rights Agent under this Agreement without any further act.

 

6.3.  Fees
and Expenses of Rights Agent.

 

6.3.1. Remuneration.
The Company agrees to pay the Rights Agent reasonable remuneration for its services as such Rights Agent hereunder and will reimburse
the Rights Agent upon demand for all expenditures that the Rights Agent may reasonably incur in the execution of its duties hereunder.

 

6.3.2. Further
Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged,
and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Rights Agent for
the carrying out or performing of the provisions of this Agreement.

 

6.4. Liability
of Rights Agent.

 

6.4.1. Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Rights Agent shall deem it necessary
or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder,
such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively
proved and established by a statement signed by the Chief Executive Officer, Chief Operating Officer or Chief Financial Officer
and delivered to the Rights Agent. The Rights Agent may rely upon such statement for any action taken or suffered in good faith
by it pursuant to the provisions of this Agreement.

 

6.4.2. Indemnity.
The Rights Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. Subject to Section
6.6 below, the Company agrees to indemnify the Rights Agent and save it harmless against any and all liabilities, including judgments,
costs and reasonable counsel fees, for anything done or omitted by the Rights Agent in the execution of this Agreement except as
a result of the Rights Agent’s gross negligence, willful misconduct, or bad faith.

 

6.4.3. Exclusions.
The Rights Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or
execution of any Right (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any
covenant or condition contained in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation
or warranty as to the authorization or reservation of any Ordinary Shares to be issued pursuant to this Agreement or any Right
or as to whether any Ordinary Shares will when issued be valid and fully paid and nonassessable.

 

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6.5. Acceptance
of Agency. The Rights Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the
terms and conditions herein set forth.

 

6.6 Waiver.
The Rights Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and the Rights Agent as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

7. Miscellaneous
Provisions.

 

7.1. Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Rights Agent shall bind and inure
to the benefit of their respective successors and assigns.

 

7.2. Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right
to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail
or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is
filed in writing by the Company with the Rights Agent), as follows:

 

Venus Acquisition Corporation

477 Madison Avenue, 6th Floor

New York, New York 10022

Attention: Chief Executive Officer

 

Any notice, statement
or demand authorized by this Agreement to be given or made by the holder of any Right or by the Company to or on the Rights Agent
shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier
service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by
the Rights Agent with the Company), as follows:

 

Vstock Transfer, LLC

18 Lafayette Place

Woodmere, New York 11598

Attention: Relationship Management

 

7.3. Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Rights shall be governed in all respects by
the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of
the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising
out of or relating in any way to this Agreement shall 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 irrevocably submits to such jurisdiction, which jurisdiction shall
be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or
certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 7.2 hereof. Such
mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

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7.4. Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto
and the Registered Holders of the Rights and, for the purposes of Sections 3.1, 7.4 and 7.8 hereof, the Representative, any right,
remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof.
The Representative shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 3.1, 7.4 and 7.8
hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and
exclusive benefit of the parties hereto (and the Representative with respect to the Sections 3.1, 7.4 and 7.8 hereof) and their
successors and assigns and of the Registered Holders of the Rights. The provisions of this Section 7.4 may not be modified, amended
or deleted without the prior written consent of the Representative.

 

7.5. Examination
of the Right Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Rights Agent
in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Right. The Rights Agent
may require any such holder to submit his, her or its Right for inspection by it.

 

7.6. Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

7.7. Effect
of Headings. The Section headings herein are for convenience only and are not part of this Agreement and shall not affect the
interpretation thereof.

 

7.8  Amendments.
This Agreement may be amended by the parties hereto without the consent of any Registered Holder for the purpose of curing any
ambiguity, or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions
with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties
deem shall not adversely affect the interest of the Registered Holders. All other modifications or amendments shall require the
written consent or vote of the Registered Holders of a majority of the then outstanding Rights. The provisions of this Section
7.8 may not be modified, amended or deleted without the prior written consent of the Representative.

 

[Signature Page Appears Next]

 

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

 

IN WITNESS WHEREOF,
this Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	 	Venus Acquisition Corporation
	 	 
	 	By:	/s/ Yanming Liu
	 	Name:  	Yanming Liu
	 	Title:	Chief Executive Officer
	 	 	 
	 	Vstock Transfer, LLC
	 	 
	 	By:	/s/ Shay Galam
	 	Name:	Shay Galam
	 	Title:	Compliance Officer

 

     

    

    

 

Exhibit A Form of Right Certificate

 

 

 

     

    

    

 

NUMBERRIGHTS

 

VENUS ACQUISITION CORPORATION

A CAYMAN ISLANDS COMPANY

 

Form of 

 

PUBLIC RIGHTS CERTIFICATE 

 

SEE REVERSE FOR

CERTAIN DEFINITIONS

 

CUSIP G9420F 128

 

This Rights Certificate certifies
that, or registered assigns, is the registered holder of a right or rights (the “Right”)
to automatically receive one-tenth of one ordinary share, par value $0.0001 per share (“Ordinary Share”),
of Venus Acquisition Corporation (the “Company”) for each Right evidenced by this Rights Certificate
on the Company’s completion of an initial business combination (as defined in the final prospectus relating to the Company’s
initial public offering (“Prospectus”) upon surrender of this Rights Certificate pursuant to the Rights Agreement between
the Company and Vstock Transfer, LLC, as Rights Agent (the “Rights Agent”). In no event will the Company
be required to net cash settle any Right or issue a fractional Ordinary Share.

 

Upon liquidation of the Company in the
event an initial business combination is not consummated during the required period as identified in the Company’s Amended
and Restated Memorandum and Articles of Association, the Rights shall expire and be worthless. The holder of a Right shall have
no right or interest of any kind in the Company’s trust account (as defined in the Prospectus).

 

Upon due presentment for registration of
transfer of the Right Certificate at the office or agency of Vstock Transfer, LLC, the Rights Agent, a new Right Certificate or
Right Certificates of like tenor and evidencing in the aggregate a like number of Rights shall be issued to the transferee in exchange
for this Right Certificate, without charge except for any applicable tax or other governmental charge. The Company shall not issue
fractional shares upon exchange of Rights. The Company reserves the right to deal with any fractional entitlement at the relevant
time in any manner (as provided in the Rights Agreement).

 

The Company and the Rights Agent may deem
and treat the registered holder as the absolute owner of this Right Certificate (notwithstanding any notation of ownership or other
writing hereon made by anyone), for the purpose of any conversion hereof, of any distribution to the registered holder, and for
all other purposes, and neither the Company nor the Rights Agent shall be affected by any notice to the contrary.

 

This Right does not entitle the registered
holder to any of the rights of a shareholder of the Company. This Right shall be governed by and construed in accordance with the
internal laws of the State of New York, without regard to conflicts of laws principles thereof.

 

Dated:

 

	 	 	 
	SECRETARY	 	CHIEF EXECUTIVE OFFICER

 

SEAL

 

     

    

    

 

The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according
to applicable laws or regulations:

 

	TEN COM – as tenants in common	UNIF GIFT MIN	Custodian
	ACT -	 	 
	TEN ENT – as tenants by the entireties	(Cust)	(Minor)
	 	under U.S. Uniform Gifts to Minor Act	 
	JT TEN – as joint tenants with right of survivorship and not as	 	 
	tenants in common	 	 

 

Additional Abbreviations may also be used
though not in the above list.

VENUS ACQUISITION CORPORATION

 

The Company will furnish
without charge to each security holder who so requests the powers, designations, preferences and relative, participating, optional
or other special rights of each class of equity securities or series thereof of the Company and the qualifications, limitations,
or restrictions of such preferences and/or rights. This certificate and the rights represented thereby are issued and shall be
held subject to all the provisions of the Rights Agreement, the Company’s Amended Memorandum and Articles of Association
and all amendments thereto and resolutions of the Board of Directors providing for the issuance of securities (copies of which
may be obtained from the secretary of the Company), to all of which the holder of this certificate by acceptance hereof assents.

 

For value received,_____________________hereby
sell(s), assign(s) and transfer(s) unto

 

PLEASE INSERT SOCIAL SECURITY
OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

 

 

 

 

(PLEASE
PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE(S)) Rights represented by the within Certificate, and
do hereby irrevocably constitute and appoint _______________________________________________________________ Attorney to transfer
the said rights on the books of the within named Company will full power of substitution in the premises.

 

Dated

		Notice:	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular,
without alteration or enlargement or any change whatever.

 

_____________________________

Signature(s) Guaranteed:

 

THE SIGNATURE(S) SHOULD BE GUARANTEED BY
AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE SECURITIES ACT OF 1933, AS AMENDED).

 

The holder of this certificate
shall have no right or interest of any kind in or to the funds held in the Company’s trust fund (as defined in the Prospectus).Exhibit 10.1

 

February 8, 2021

 

Venus Acquisition Corporation

477 Madison Avenue, 6th Floor

New York, New York, 10022

 

Re: Venus Acquisition Initial Public
Offering; Voting, Lock-Up and Waiver

 

Gentlemen:

 

This letter (this “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
to be entered into by and between Venus Acquisition Corporation, a Cayman Islands exempted company (the “Company”),
and Ladenburg Thalmann & Co. Inc., as representative (the “Representative”) of the several underwriters
(each, an “Underwriter” and collectively, the “Underwriters”), relating to
an underwritten initial public offering (the “Public Offering”), of 4,600,000 of the Company’s
units (including up to 600,000 units that may be purchased to cover over-allotments, if any) (the “Units”),
each comprised of one of the Company’s ordinary shares, par value $0.001 per share (the “Ordinary Shares”),
one warrant to purchase one-half of an Ordinary Share (“Warrant”) and a right (“Right”) to
receive 1/10th of an Ordinary Share. Each Warrant entitles the holder thereof to purchase one-half of one Ordinary Share
at a price of $11.50 per share, subject to adjustment. The Units shall be sold in the Public Offering pursuant to a registration
statement on Form S-1 (File No. 333-251507) and prospectus (the “Prospectus”) filed by
the Company with the Securities and Exchange Commission (the “Commission”) and the Company shall apply
to have the Units listed on the Nasdaq Capital Market. Certain capitalized terms used herein are defined in Section 12 hereof.

 

In order to induce the Company and the
Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Yolanda Management Corporation (the “Sponsor”)
and the undersigned individuals, each of whom is a member of the Company’s board of directors and/or management team (each,
an “Insider” and collectively, the “Insiders”), hereby agrees with the Company
as follows:

 

1. The Sponsor and each Insider agrees
that (A) if the Company seeks shareholder approval of a proposed Business Combination, then in connection with such proposed Business
Combination, it, he or she shall (i) vote any Shares owned by it, him or her in favor of any proposed Business Combination
and (ii) not redeem any Shares owned by it, him or her in connection with such shareholder approval, (B) if the Company engages
in a tender offer in connection with any proposed Business Combination, it, he or she shall not sell any Shares to the Company
in connection therewith and (C) if the Company seeks shareholder approval of any proposed amendment to the Charter prior to the
consummation of a Business Combination, it, he or she shall not redeem any Shares owned by it, him or her in connection with such
shareholder approval.

 

2. The Sponsor and each Insider hereby
agrees that in the event that the Company fails to consummate a Business Combination within the time period set forth in the Charter,
the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the
purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully
available funds therefor, redeem 100% of the Ordinary Shares sold as part of the Units in the Public Offering (the “Offering
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 the Company to pay any
taxes (less up to $50,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares,
which redemption will completely extinguish all Public Shareholders’ rights as shareholders (including the right to receive
further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following
such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors,
dissolve and liquidate, subject in the case of clauses (ii) and (iii) above to the Company’s obligations under Cayman Islands
law to provide for claims of creditors and other requirements of applicable law. The Sponsor and each Insider agrees to not propose
any amendment to the Charter (i) that would affect the substance or timing of the Company’s obligation to redeem 100% of
the Offering Shares if the Company does not complete a Business Combination within the time period described in the Prospectus
or (ii) with respect to any other provision relating to shareholders’ rights or pre-Business Combination activity, unless
the Company provides its public shareholders with the opportunity to redeem their Ordinary Shares upon approval of any such amendment
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 the Company to pay any taxes, divided by
the number of then outstanding Offering Shares.

 

    1 

     

    

 

3. The Sponsor and
each Insider acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the
Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares
held by it, him or her. The Sponsor and each Insider hereby further waives any claim such Sponsor or Insider may have in the future
as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Account
for any reason whatsoever except in each case with respect to the Insider’s right to a pro rata interest in the proceeds
held in the Trust Account for any Offering Shares such Sponsor or Insider may hold.

 

4. During the period commencing on
the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each Insider shall not, without
the prior written consent of the Representative, (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge,
grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a
put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, with respect to
any Units, Ordinary Shares, Founder Shares, Warrants, Rights or any securities convertible into, or exercisable, or exchangeable
for, Ordinary Shares owned by it, him or her, (ii) enter into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of any Units, Ordinary Shares, Founder Shares, Warrants, Rights
or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares owned by it, him or her, whether any such
transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention
to effect any transaction specified in clause (i) or (ii). Each of the Insiders and the Sponsor acknowledges and agrees that,
prior to the effective date of any release or waiver, of the restrictions set forth in this Section 4 or Section 8 below, the Company
shall announce the impending release or waiver by press release through a major news service at least two business days before
the effective date of the release or waiver. Any release or waiver granted shall only be effective two business days after the
publication date of such press release. The provisions of this Section will not apply if the release or waiver is effected solely
to permit a transfer not for consideration and the transferee has agreed in writing to be bound by the same terms described in
this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer.

 

5. In the event of the liquidation
of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other shareholders, members or managers
of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense
whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing
or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become subject
as a result of any claim by (i) any third party for services rendered or products sold to the Company or (ii) a prospective
target business with which the Company has entered into a letter of intent, confidentiality or other similar agreement or a Business
Combination agreement (a “Target”); provided, however, that such indemnification
of the Company by the Sponsor shall apply only to the extent necessary to ensure that such claims by a third party for services
rendered (other than the Company’s independent public accountants) or products sold to the Company or a Target do not reduce
the amount of funds in the Trust Account to below (i) $10.15 per share of the Offering Shares or (ii) such lesser amount
per share of the Offering Shares held in the Trust Account due to reductions in the value of the trust assets as of the date of
the liquidation of the Trust Account, in each case, net of the amount of interest earned on the property in the Trust Account which
may be withdrawn to pay taxes, except as to any claims by a third party (including a Target) who executed a waiver of any and all
rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the Underwriters
against certain liabilities, including liabilities under the Securities Act of 1933, as amended. In the event that any such executed
waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible to the extent of any liability
for such third-party claims. The Sponsor shall have the right to defend against any such claim with counsel of its choice reasonably
satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Sponsor, the Sponsor notifies
the Company in writing that it shall undertake such defense.

 

6. To
the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 600,000 Units within
45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost,
a number of Founder Shares in the aggregate equal to 150,000 multiplied by a fraction, (i) the numerator of which is 600,000
minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator
of which is 600,000.

 

    2 

     

    

 

7. The Sponsor and each Insider hereby
agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably injured in the event of a breach by
such Sponsor or an Insider of its, his or her obligations under Sections 1, 2, 3, 4, 5, 8(a), 8(b), and 9, as applicable, of this
Letter Agreement; (ii) monetary damages may not be an adequate remedy for such breach; and (iii) the non-breaching party
shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event
of such breach.

 

8. (a) The Sponsor and each Insider
agrees that it, he or she shall not (a) Transfer 50% of their Founder Shares until the earlier of (A) six months after the
consummation of the Company’s initial Business Combination or (B) the date on which the closing price of the Ordinary Shares
equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations, rights issuances, subdivisions, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing after the Company’s
initial Business Combination or (b) Transfer the remaining 50% of their Founder Shares until six months after the date of the consummation
of the Company’s initial Business Combination, or earlier in either case, if subsequent to the Company’s initial Business
Combination the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction that results
in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property
(the “Founder Shares Lock-up Period”).

 

(b) The Sponsor and each Insider
agrees that it, he or she shall not Transfer any Private Placement Units (or Warrants and Ordinary Shares issued or issuable upon
the conversion of the Private Placement Units), until 30 days after the completion of a Business Combination (the “Private
Placement Units Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up Periods”).

 

(c) Notwithstanding the provisions
set forth in Sections 8(a) and (b), Transfers of the Founder Shares, Private Placement Units and Warrants and Ordinary Shares
issued or issuable upon the exercise or conversion of the Private Placement Units and that are held by the Sponsor, any Insider
or any of their permitted transferees (that have complied with this Section 8(c)), are permitted (a) to the Company’s
officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members of the
Sponsor, or any affiliates of the Sponsor; (b) in the case of an individual, transfers by gift to a member of the individual’s
immediate family, to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of
such person, or to a charitable organization; (c) in the case of an individual, transfers by virtue of laws of descent and
distribution upon death of the individual; (d) in the case of an individual, transfers pursuant to a qualified domestic relations
order; (e) transfers by private sales or transfers made in connection with the consummation of a Business Combination at prices
no greater than the price at which the securities were originally purchased; (f) transfers in the event of the Company’s
liquidation prior to the completion of an initial Business Combination; (g) transfers by virtue of the laws of the Cayman
Islands or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor; (h) in the event of the
Company’s liquidation, merger, share exchange, reorganization or other similar transaction which results in all of the Company’s
shareholders having the right to exchange their Ordinary Shares for cash, securities or other property subsequent to the completion
of the Company’s initial Business Combination; and (i) transfers in connection with the Company’s initial Business
Combination with the Company’s consent to any third party; provided, however, that in the case of clauses (a) through
(e), (h) and (i), these permitted transferees must enter into a written agreement agreeing to be bound by the restrictions herein.

 

9. The Sponsor and each Insider represents
and warrants that it, he or she has never been suspended or expelled from membership in any securities or commodities exchange
or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s biographical
information furnished to the Company (including any such information included in the Prospectus) is true and accurate in all respects
and does not omit any material information with respect to the Insider’s background. Each Insider’s questionnaire furnished
to the Company is true and accurate in all respects. Each Insider represents and warrants that: it, he or she is not subject to
or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain
from any act or practice relating to the offering of securities in any jurisdiction; it or he has never been convicted of, or pleaded
guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another
person, or (iii) pertaining to any dealings in any securities and it or he is not currently a defendant in any such criminal
proceeding.

 

10. Except as disclosed in the Prospectus,
neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director or officer of the Company,
shall receive from the Company any finder’s fee, reimbursement, or cash payments prior to, or in connection with any services
rendered in order to effectuate the consummation of the Company’s initial Business Combination (regardless of the type of
transaction that it is), other than the amounts described in the Prospectus under the heading “Summary – The Offering
– Limited Payments to Insiders.”

 

    3 

     

    

 

11. The Sponsor and each Insider has
full right and power, without violating any agreement to which it is bound (including, without limitation, any non-competition or non-solicitation agreement
with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as an officer and/or director
on the board of directors of the Company and hereby consents to being named in the Prospectus as an officer and/or director of
the Company.

 

12. As used herein, (i) “Business
Combination” shall mean a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business
combination, involving the Company and one or more businesses; (ii) “Shares” shall mean, collectively,
the Ordinary Shares and the Founder Shares; (iii) “Founder Shares” shall mean the 1,150,000 of the
ordinary shares, par value $0.001 per share, initially issued to the Sponsor (up to 150,000 Shares of which are subject to complete
or partial forfeiture by the Sponsor if the over-allotment option is not exercised by the Underwriters) for an aggregate purchase
price of $25,000, or $0.02 per share, prior to the consummation of the Public Offering; (iv) “Initial Shareholders”
shall mean the Sponsor and any Insider that holds Founder Shares; (v) “Private Placement Units”
shall mean the Units to purchase up to 215,000 Units which the Sponsor has agreed to purchase for an aggregate purchase price of
$2,150,000, or $10.00 per whole Private Placement Unit, in a private placement that shall occur simultaneously with the consummation
of the Public Offering; (vi) “Public Shareholders” shall mean the holders of securities issued in
the Public Offering; (vii) “Trust Account” shall mean the trust fund into which a portion of the
net proceeds of the Public Offering shall be deposited with Wilmington Trust Company; (viii) “Transfer”
shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect to,
any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash
or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b);
and (ix) “Charter” shall mean the Company’s amended and restated memorandum and articles of association,
as the same may be amended from time to time.

 

13. This Letter Agreement constitutes
the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings,
agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject
matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived (other
than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.

 

14. No party hereto may assign either
this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other
party. Any purported assignment in violation of this Section shall be void and ineffectual and shall not operate to transfer or
assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each Insider
and their respective successors, heirs and assigns and permitted transferees.

 

15. Nothing in this Letter Agreement shall
be construed to confer upon, or give to, any person or corporation other than the parties hereto any right, remedy or claim under
or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof; provided, however,
Ladenburg & Thalmann & Co., Inc. shall be deemed a beneficiary hereof. All covenants, conditions, stipulations, promises
and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors,
heirs, personal representatives and assigns and permitted transferees.

 

16. This Letter Agreement may be executed
in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute but one and the same instrument.

 

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

 

    4 

     

    

 

18. This Letter Agreement shall be
governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts
of law principles that would result in the application of the substantive laws of another jurisdiction. The parties hereto (i) all
agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be brought
and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which
jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such
courts represent an inconvenient forum.

 

19. Any notice, consent or request
to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by
express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or facsimile transmission.

 

20. This Letter Agreement shall terminate
on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company; provided,
however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated and closed
by March 31, 2021; provided further that Section 5 of this Letter Agreement shall survive such liquidation.

 

[Signature Page to Letter Agreement]

 

	 	SPONSOR
	 	YOLANDA MANAGEMENT CORPORATION
	 	 	 
	 	By: /s/
    Zhiguo Zhang
	 	Name:Zhiguo Zhang
	 	Title: Director

 

	Officers and Directors	 
	Acknowledged and Agreed:	 
	 	 
	/s/ Yanming Liu	 
	Yanming Liu, Chairman and Chief Executive
    Officer	 
	 	 
	/s/ River Chi	 
	River Chi, Chief Financial Officer	 
	 	 
	/s/ Yu Chen	 
	Yu Chen, Director	 
	 	 
	/s/ Guojian Chen	 
	Guojian Chen, Director	 
	 	 
	/s/ Shan Cui	 
	Shan Cui, Director	 

 

5

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