Document:

Exhibit
4.6

 

RIGHTS AGREEMENT

 

This Rights Agreement (this
“Agreement”) is made as of [●], 2022 between Redwoods Acquisition Corp., a Delaware corporation (the “Company”),
and American Stock Transfer & Trust Company, LLC, a New York limited liability trust company, as rights agent (the “Rights Agent”).

 

WHEREAS, the Company has received
a firm commitment from Chardan Capital Markets, LLC (the “Representative”), as representative of the several underwriters,
to purchase up to an aggregate of 11,500,000 units, each unit (“Unit”) comprised of one share of common stock of the Company,
par value $.0001 (the “Common Stock”), one warrant entitling the holder thereof to purchase one-half (1/2) of one share of
Common Stock, and one right to receive one-tenth (1/10) of one share of Common Stock (a “Public Right”) upon the happening
of the triggering event described herein, and in connection therewith, will issue and deliver up to an aggregate of 11,500,000 Public
Rights upon consummation of such public offering, 1,500,000 of which are attributable to the over-allotment option (the “Public
Offering”);

 

WHEREAS, simultaneously with
the consummation of the Public Offering, the Company will issue and deliver up to an aggregate of 530,000 rights (the “Private Rights”)
underlying private units to be sold in a private placement that will close simultaneously with the closing of the Public Offering;

 

WHEREAS, in connection with
the Public Offering, the Company will issue and deliver up to 345,000 rights (underlying unit purchase options) to the Representative
or its designees (the “Representative Rights”);

 

WHEREAS, the Company may issue
additional Rights, which will be identical to the Private Rights, in consideration of certain working capital loans that may be made by
the Company’s sponsor, officers, directors or their affiliates (together with the Public Rights, the Private Rights, the the Representative
Rights, and along with such other rights as the Company issues from time to time hereunder, the “Rights”);

 

WHEREAS, the Company has filed
with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, File No. 333-[●] (the
“Registration Statement”), for the registration, under the Securities Act of 1933, as amended (the “Act”) of,
among other securities, the Rights and the shares of Common Stock issuable to the holders of the Rights;

 

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;

 

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 that 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 or book entry 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 electronic signature of, the Chairman
of the Board or Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear the Company’s
seal, if any. In the event the person whose electronic 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. Except with respect to uncertificated Rights as described above, unless and until countersigned by the Rights
Agent pursuant to this Agreement, a registered Right shall be invalid and of no effect and may not be exchanged for shares of Common Stock.

 

2.3. Registration.

 

2.3.1. Right
Register. The Rights Agent shall maintain books (the “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 or entity in whose name such Right shall be registered upon the Right Register (the “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 not be separately transferable until the forty-fifth (45th)
day after the date hereof unless the Representative informs the Company and the Rights Agent of its decision to allow earlier separate
trading, but in no event will separate trading of the securities comprising the Units begin until (i) the Company files a Current Report
on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering
including the proceeds received by the Company from the exercise of the over-allotment option, if the over-allotment option is exercised
on the date hereof, and (ii) the Company issues a press release announcing when such separate trading shall begin.

 

3. Terms and Exchange of
Rights.

 

3.1. Rights.
Each Right shall entitle the holder thereof to receive one-tenth (1/10) of one share of Common Stock upon the happening of the Exchange
Event (as defined below). No additional consideration shall be paid by a holder of Rights in order to receive his, her or its shares of
Common Stock upon the Exchange Event as the purchase price for such shares of Common Stock 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 shares of Common Stock. The provisions
of this Section 3.1 may not be modified, amended or deleted without the prior written consent of the Representative.

 

3.2. Exchange
Event. The “Exchange Event” shall be the Company’s consummation of an initial Business Combination (as defined in
the Company’s Amended and Restated Certificate of Incorporation).

 

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3.3. Exchange
of Rights.

 

3.3.1. Issuance
of Shares of Common Stock. As soon as practicable upon the occurrence of the Exchange Event, the Company shall direct holders of the
Rights to return their Rights Certificates to the Rights Agent. If the Company is not the surviving entity in a Business Combination,
the holder of Rights must affirmatively elect to such conversion. Upon receipt of a valid Rights Certificate, the Rights Agent shall issue
to the registered holder of such Right(s) the number of full shares of Common Stock to which he, she or it is entitled, registered in
such name or names as may be directed by him, her or it. Notwithstanding the foregoing, or any provision contained in this Agreement to
the contrary, in no event will the Company be required to net cash settle the Rights. The Company shall not issue fractional shares upon
exchange of Rights. At the time of the Exchange Event, the Company will instruct the Rights Agent to round down to the nearest whole share
of Common Stock or otherwise inform it how fractional shares will be addressed in accordance with Delaware law.

 

3.3.2. Valid
Issuance. All shares of Common Stock issued upon an Exchange Event in conformity with this Agreement shall be validly issued, fully
paid and nonassessable.

 

3.3.3. Date
of Issuance. Each person in whose name any such certificate or book-entry position for shares of Common Stock is issued shall for
all purposes be deemed to have become the holder of record of such shares on the date of the Exchange Event, irrespective of the date
of delivery of such certificate or book-entry position.

 

3.3.4. Company Not
Surviving Following Exchange Event. If the Exchange Event results in the Company not continuing as the surviving company, the
definitive agreement will provide for the holders of Rights to receive the same per share consideration as the holders of the Common
Stock will receive in connection with the Exchange Event, for the number of shares such holder is entitled to pursuant to Section
3.1 above, and each holder of a Right will be required to affirmatively convert his, her or its Rights in order to receive the
one-tenth (1/10) of one share underlying each Right (without paying any additional consideration) upon consummation of the Exchange
Event.

 

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 Certificate
of Incorporation, as the same may be amended from time to time, the Rights shall expire and shall be worthless; provided that, for as
long as any of the the Representative Rights are held by the Representative, or its designees or affiliates, such Rights may not be converted
after five years, from the commencement of sales under the Registration Statement.

 

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.

 

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 and the new Rights to be issued will not bear 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 no restrictive legend is required.

 

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.

 

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.

 

4.6. Adjustments
to Conversion Ratios. The number of shares of Common Stock 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, reverse share split, share dividend,
reorganization, recapitalization, reclassification, combination, exchange of shares or other like change with respect to the shares of
Common Stock occurring on or after the date hereof and prior to the Exchange Event.

 

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

 

5.1. No
Rights as Shareholder. Until the exchange of a Right for shares of Common Stock 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 Shares of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares
of Common Stock that will be sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

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 shares of Common Stock upon the exchange of Rights, but the Company shall not be obligated
to pay any transfer taxes in respect of the Rights or such 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.

 

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 shares of Common Stock not later than the effective date of any such appointment.

 

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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 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 (as determined by a
final judgment of a court of competent jurisdiction). 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 (as determined by a final judgment of a court of competent jurisdiction).

 

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 shares of Common Stock to be issued pursuant to this Agreement or any Right or as to whether any
shares of Common Stock will, when issued, be valid and fully paid and nonassessable. In no event shall the Rights Agent be liable for special, punitive, incidental, indirect or consequential loss
or damage of any kind whatsoever (including lost profits), even if the Rights Agent has been advised of the likelihood of such loss or
damage and regardless of the form of the action.

 

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:

 

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Redwoods Acquisition Corp.

1115 Broadway, 12th Floor

New York, NY 10010

Attn: Jiande Chen

 

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:

 

American Stock Transfer & Trust Company, LLC

6201 15th Avenue

Brooklyn, NY 11219

Attn: Relationship Management

 

and 

 

Loeb & Loeb LLP

35 Park Avenue

New York, NY 10154

Attn: Giovanni Caruso, Esq.  

 

and  

 

Chardan Capital Markets, LLC

17 State Street, Suite 2130

New York, NY 10004

Attn: George Kaufman

 

and  

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas

New York, NY 10105

Attn: Stuart Neuhauser, Esq.

 

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. Subject to applicable law, the Company and the Rights Agent hereby agree that any action, proceeding or
claim against either of them 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 forum for any such action, proceeding or
claim. The Company and the Rights Agent hereby waive any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum. Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any
liability or duty created by the Securities Exchange Act of 1934, as amended, or any other claim for which the federal district courts
of the United States of America are the sole and exclusive forum or any compliant
asserting a cause of action arising under the Securities Act against the Company or any of the Company’s directors, officers, other
employees or agents.

 

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Any person or entity purchasing
or otherwise acquiring any interest in the Rights shall be deemed to have notice of and to have consented to the forum provisions in this
Section 7.3. If any action, the subject matter of which is within the scope the forum provisions above, is filed in a court other than
a court located within the State of New York or the United States District Court for the Southern District of New York (a “foreign
action”) in the name of any Rights holder, such Rights holder shall be deemed to have consented to: (x) the personal jurisdiction
of the state and federal courts located within the State of New York or the United States District Court for the Southern District of
New York in connection with any action brought in any such court to enforce the forum provisions (an “enforcement action”),
and (y) having service of process made upon such Rights holder in any such enforcement action by service upon such Rights holder’s
counsel in the foreign action as agent for such Rights holder.

 

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 Sections 3.1, 7.4 and 7.8 hereof) and their successors and assigns and of the registered holders of
the Rights.

 

7.5. Examination
of Rights Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Rights Agent in the
County of New York, 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 electronic 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 in any material respect. 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. Upon the delivery of a certificate from an appropriate officer of the Company that states that the proposed supplement
or amendment complies with this Section 7.8, the Rights Agent shall execute such supplement or amendment.

 

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.

 

[Signature Page Follows]

 

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

 

	 	REDWOODS ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:  	Jiande Chen 
	 	 	Title:	Chief Executive Officer
	 	 	 
	 	
     

    AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC

	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Signature Page to Rights Agreement

 

     

     

    

 

EXHIBIT A

 

Form of Rights CertificateExhibit 4.7

 

THE REGISTERED HOLDER OF THIS PURCHASE OPTION
BY ITS ACCEPTANCE HEREOF AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN PROVIDED AND THE REGISTERED
HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION OR CAUSE IT
TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION
OF THE PURCHASE OPTION BY ANY PERSON FOR A PERIOD OF ONE HUNDRED EIGHTY (180) DAYS FROM THE COMMENCEMENT OF SALES IN THE OFFERING TO ANYONE
OTHER THAN TO (I) CHARDAN CAPITAL MARKETS, LLC (“CHARDAN”) OR AN UNDERWRITER OR SELECTED DEALER PARTICIPATING
IN THE OFFERING OR (II) AN OFFICER OR PARTNER, REGISTERED PERSON OR AFFILIATE OF CHARDAN OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER
AND IN ACCORDANCE WITH FINRA RULE 5110(E)(2).

 

THIS PURCHASE OPTION IS NOT EXERCISABLE PRIOR
TO THE CONSUMMATION BY REDWOODS ACQUISITION CORP. (THE “COMPANY”) OF A MERGER, STOCK EXCHANGE, ASSET ACQUISITION,
STOCK PURCHASE, RECAPITALIZATION, REORGANIZATION OR OTHER SIMILAR BUSINESS COMBINATION WITH ONE OR MORE BUSINESSES OR ENTITIES (THE “BUSINESS
COMBINATION”) (AS DESCRIBED MORE FULLY IN THE COMPANY’S REGISTRATION STATEMENT (AS DEFINED HEREIN)), AND VOID AFTER
5:00 P.M. NEW YORK CITY LOCAL TIME, ON THE EARLIER OF THE EXPIRATION DATE (AS DEFINED HEREIN) OR THE DAY IMMEDIATELY PRIOR TO THE DAY
ON WHICH THE COMPANY AND ALL OF ITS SUCCESSORS HAVE BEEN DISSOLVED.

 

UNIT PURCHASE OPTION

FOR THE PURCHASE OF

UP TO 345,000 UNITS

OF

REDWOODS ACQUISITION CORP.

 

1. PURCHASE
OPTION.

 

THIS CERTIFIES THAT, in consideration of $100.00
duly paid by or on behalf of Chardan Capital Markets, LLC (the “Holder”), as registered owner of this Purchase
Option, to Redwoods Acquisition Corp. (the “Company”), Holder is entitled, at any time or from time to time
upon the consummation by the Company of a Business Combination (the “Commencement Date”), until, at or before
5:00 p.m., New York City local time, on the earlier of the five year anniversary of the effective date of the Registration Statement (as
defined below) and the day immediately prior to the day on which the Company and all of its successors have been dissolved, but not thereafter
(the “Expiration Date”), as described in the Company’s registration statement (the “Registration
Statement”) pursuant to which units are offered for sale to the public in the Company’s initial public offering (the
“Offering”), to subscribe for, purchase and receive, in whole or in part, Three Hundred Thousand (300,000) units
(or up to Three Hundred and Forty-Five Thousand (345,000) units with full exercise of the over-allotment option in the offering) (“Units”)
of the Company, each Unit consisting of one (1) share of common stock, par value $0.0001 per share, of the Company (“Share(s)”),
one (1) warrant (“Warrant(s)”), each Warrant entitling the holder thereof to purchase one-half (1/2)
of one Share and one (1) right to receive one-tenth (1/10) of a Share upon the consummation of a Business Combination (“Right(s)”).
Each Right has the same terms as the rights included in the units being registered for sale to the public by way of the Registration Statement
(“Public Rights”), except as set forth herein. Each Warrant has the same terms as the warrants included in the
units being registered for sale to the public by way of the Registration Statement (the “Public Warrants”),
except as set forth herein. Notwithstanding anything to the contrary, the original Holder of this Purchase Option agrees that it will
not be permitted to exercise this Purchase Option or the Rights or the Warrants underlying the Units after the five year anniversary of
the effective date of the Registration Statement. During the period ending on the Expiration Date, the Company agrees not to take any
action that would terminate this Purchase Option. This Purchase Option is initially exercisable at $11.50 per Unit so purchased; provided, however,
that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option,
including the exercise price per Unit and the number of Units (and the underlying Shares, Warrants and Rights) to be received upon such
exercise, shall be adjusted as therein specified. The term “Exercise Price” shall mean the initial exercise
price or the adjusted exercise price, depending on the context.

  

     

     

    

 

2. EXERCISE
OF PURCHASE OPTION

 

2.1 Exercise Form.
In order to exercise this Purchase Option, the exercise form attached hereto must be duly executed and completed and delivered to the
Company, together with this Purchase Option and payment of the Exercise Price for the Units being purchased payable in cash or by certified
check or official bank check or pursuant to Section 2.3 hereof. If this Purchase Option shall not be exercised at or before 5:00 p.m.,
New York City local time, on the Expiration Date, this Purchase Option shall become and be void without further force or effect, and all
rights represented hereby shall cease and expire. Upon and after a Business Combination the Public Rights contained in this Purchase Option
shall continue to represent a right to receive one-tenth (1/10) of a share of Common Stock upon the exercise of this Purchase Option.

 

2.2 Legend. Each
certificate for the securities purchased under this Purchase Option shall bear a legend as follows, unless such securities have been registered
under the Securities Act of 1933, as amended (“Act”):

 

“The securities represented by this
certificate have not been registered under the Securities Act of 1933, as amended (“Act”), or the laws of applicable
states or other jurisdictions. The securities may not be offered for sale, sold or otherwise transferred except pursuant to an effective
registration statement under the Act, or pursuant to an exemption from registration under the Act and applicable laws of states or other
jurisdictions.”

 

2.3 Cashless Exercise.

 

2.3.1 Determination
of Amount. In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase Option is exercisable
(and in lieu of being entitled to receive Shares, Rights (or the shares to be received for the Rights if after a Business Combination)
and Warrants) in the manner required by Section 2.1, and subject to Section 6.1 hereof, the Holder shall
have the right (but not the obligation) to convert any exercisable but unexercised portion of this Purchase Option into Units (“Cashless
Exercise Right”) as follows: upon exercise of the Cashless Exercise Right, the Company shall deliver to the Holder (without
payment by the Holder of any of the Exercise Price in cash) that number of Units (or that number of Shares, Warrants and Rights comprising
that number of Units) equal to the number of Units to be exercised multiplied by the quotient obtained by dividing (x) the “Value”
(as defined below) of the portion of the Purchase Option being converted by (y) the Current Market Value (as defined below). The “Value”
of the portion of the Purchase Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise Price multiplied
by (ii) the number of Units underlying the portion of this Purchase Option being converted from (b) the Current Market Value of a Unit
multiplied by the number of Units underlying the portion of the Purchase Option being converted. As used herein, the term “Current
Market Value” per Unit at any date means: (A) in the event that the Units, Shares, Public Rights and Public Warrants are
still trading, (i) if the Units are listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange),
the average reported last sale price of the Units in the principal trading market for the Units as reported by the exchange, Nasdaq or
the Financial Industry Regulatory Authority (“FINRA”), as the case may be, for the three trading days preceding
the date in question; or (ii) if the Units are not listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor
exchange), but are traded in the residual over-the-counter market, the average reported last sale price for Units for the three trading
days preceding the date in question for which such quotations are reported by the Pink Sheets, LLC, or similar publisher of such quotations;
(B) in the event that the Units are not still trading but the Shares, Public Rights and Public Warrants underlying the Units are still
trading, the aggregate of (i) the product of (x) the Current Market Price of the Shares and (y) the number of the Shares underlying one
Unit (which shall include the portion of a Share of the holder of Unit would automatically receive in connection with the Right included
in each such Unit), plus (ii) the product of (x) the Current Market Price of the Public Warrants and (y) the number of Warrants included
in one Unit, plus (iii) the product of (x) the Current Market Price of the Public Rights and (y) the number of Rights included in one
Unit; (C) in the event that the Units and the Public Rights are not still trading, but the Shares and Public Warrants are still trading,
the aggregate of (i) the product of (x) the Current Market Price of the Shares and (y) the number of the Shares underlying one Unit (which
shall include the portion of a Share that the holder of Unit would automatically receive in connection with the Right included in each
such Unit), plus (ii) the product of (x) the Current Market Price of the Public Warrants and (y) the number of Warrants included in one
Unit; or (D) in the event that neither the Units nor the Public Warrants are still trading, the aggregate of (i) the product of (x) the
Current Market Price of the Shares and (y) the number of the Shares underlying one Unit (which shall include a portion of a Share the
holder of a Unit would automatically receive in connection with the Right included in each such Unit), plus (ii) the remainder derived
from subtracting (x) the exercise price of the Warrants multiplied by the number of Shares issuable upon exercise of the Warrants underlying
one Unit from (y) the product of (aa) the Current Market Price of the Shares multiplied by (bb) the number of Shares underlying the Warrants
included in each such Unit. The “Current Market Price” shall mean (i) if the Shares (or Public Warrants or Public
Rights, as the case may be) are listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange),
the average reported last sale price of the Shares (or Public Warrants or Public Rights, as the case may be) in the principal trading
market for the Shares (or Public Warrants or Public Rights, as the case may be) as reported by the exchange, Nasdaq or FINRA, as the case
may be, for the three trading days preceding the date in question; (ii) if the Shares (or Public Warrants or Public Rights, as the case
may be) are not listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange), but are traded in
the residual over-the-counter market, the average reported last sale price for the Shares (or Public Warrants or Public Rights, as the
case may be) for the three (3) trading days preceding the date in question for which such quotations are reported by the Pink Sheets,
LLC or similar publisher of such quotations; and (iii) if the fair market value of the Shares (or Public Warrants or Public Rights, as
the case may be) cannot be determined pursuant to the immediately preceding clause (i) or (ii) above, such price as the Board of Directors
of the Company shall determine, in good faith. In the event the Public Warrants have expired and are no longer exercisable, no “Value”
shall be attributed to the Warrants underlying this Purchase Option.

 

    2

     

    

 

2.3.2 Mechanics of Cashless
Exercise. The Cashless Exercise Right may be exercised by the Holder on any business day on or after the Commencement Date and not
later than the Expiration Date by delivering the Purchase Option with the duly executed exercise form attached hereto with the cashless
exercise section completed to the Company, exercising the Cashless Exercise Right and specifying the total number of Units the Holder
will purchase pursuant to such Cashless Exercise Right.

 

2.4 No Obligation
to Net Cash Settle. Notwithstanding anything to the contrary contained in this Purchase Option, in no event will the Company be required
to net cash settle the exercise of the Purchase Option or Warrants or Rights underlying the Purchase Option. The holder of the Purchase
Option and Warrants and Rights underlying the Purchase Option will not be entitled to exercise the Purchase Option or the Warrants or
Rights underlying such Purchase Option unless it exercises such Purchase Option pursuant to the Cashless Exercise Right or a registration
statement is effective, or an exemption from the registration requirements is available at such time and, if the holder is not able to
exercise the Purchase Option or underlying Warrants or underlying Rights, the Purchase Option and/or the underlying Warrants or Rights,
as applicable, will expire worthless.

 

3. TRANSFER
OF PURCHASE OPTION.

 

3.1 General Restrictions.
The registered Holder of this Purchase Option, by its acceptance hereof, agrees that it will not sell, transfer, assign, pledge or hypothecate
this Purchase Option (or the Shares, Warrants and Rights underlying this Purchase Option), or cause the Purchase Option (or the Shares,
Warrants and Rights underlying this Purchase Option) to be the subject of any hedging, short sale, derivative, put, or call transaction
that would result in the effective economic disposition of the Purchase Option by any person, for a period of 180 days following the commencement
of sales of the Offering to anyone other than Chardan or an underwriter or selected dealer participating in the Offering, or an officer
or partner, registered person or affiliate of Chardan or of any such underwriter or selected dealer in compliance with FINRA Rule 5110(e).
On and after the 181st day following the commencement of sales of the Offering, transfers to others may be made subject to compliance
with or exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver to the Company
the assignment form attached hereto duly executed and completed, together with the Purchase Option and payment of all transfer taxes,
if any, payable in connection therewith. The Company shall within five (5) business days transfer this Purchase Option on the books of
the Company and shall execute and deliver a new Purchase Option of like tenor to the appropriate assignee(s) expressly evidencing the
right to purchase the aggregate number of Units purchasable hereunder or such portion of such number as shall be contemplated by any such
assignment.

 

3.2 Restrictions Imposed
by the Act. The securities evidenced by this Purchase Option shall not be transferred unless and until (i) the Company has received
the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption from registration under the Act
and applicable state securities laws, the availability of which is established to the reasonable satisfaction of the Company (the Company
hereby agreeing that the opinion of Loeb & Loeb LLP shall be deemed satisfactory evidence of the availability of an exemption), or
(ii) a registration statement or a post-effective amendment to the Registration Statement relating to such securities has been filed by
the Company and declared effective by the Securities and Exchange Commission (the “Commission”) and compliance
with applicable state securities law has been established.

 

4. NEW
PURCHASE OPTION TO BE ISSUED.

 

4.1 Partial Exercise
or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Option may be exercised or assigned in
whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Option for cancellation,
together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price (except to the extent that
the Holder elects to exercise this Purchase Option by means of a cashless exercise as provided in Section 2.3 above)
and/or transfer tax, the Company shall cause to be delivered to the Holder without charge a new Purchase Option of like tenor to this
Purchase Option in the name of the Holder evidencing the right of the Holder to purchase the number of Units purchasable hereunder as
to which this Purchase Option has not been exercised or assigned.

 

    3

     

    

 

4.2 Lost Certificate.
Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Option and of
reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a new Purchase Option of like
tenor and date. Any such new Purchase Option executed and delivered as a result of such loss, theft, mutilation or destruction shall constitute
a substitute contractual obligation on the part of the Company.

 

5. REGISTRATION RIGHTS.

 

5.1 Demand Registration.

 

5.1.1 Grant of Right.
The Company, upon written demand (“Initial Demand Notice”) of the Holder(s) of at least 51% of the Purchase
Option and/or the underlying Units and/or the underlying securities (“Majority Holders”), agrees to use its
best efforts to register (the “Demand Registration”) under the Act on one (1) occasion, all or any portion of
the Purchase Option requested by the Majority Holders in the Initial Demand Notice or all or any portion of the securities underlying
such Purchase Option, including the Units, Shares, Rights and Warrants (collectively, the “Registrable Securities”).
On such occasion, the Company will use its best efforts to file a registration statement or a post-effective amendment to the registration
statement covering the Registrable Securities as expeditiously as possible, and in any event within forty-five (45) days, after receipt
of the Initial Demand Notice and use its best efforts to have such registration statement or post-effective amendment declared effective
as soon as possible thereafter. The demand for registration may be made at any time during a period of five years from the commencement
of sales in the Offering. The Initial Demand Notice shall specify the number of shares of Registrable Securities proposed to be sold and
the intended method(s) of distribution thereof. The Company will notify all holders of the Purchase Option and/or Registrable Securities
of the demand within ten days from the date of the receipt of any such Initial Demand Notice. Each holder of Registrable Securities who
wishes to include all or a portion of such holder’s Registrable Securities in the Demand Registration (each such holder including
Registrable Securities in such registration, a “Demanding Holder”) shall so notify the Company within fifteen
(15) days after the receipt by the holder of the notice from the Company. Upon any such request, the Demanding Holders shall be entitled
to have their Registrable Securities included in the Demand Registration, subject to Section 5.1.4.

 

5.1.2 Effective Registration.
Notwithstanding Section 5.1.5, a registration will not count as a Demand Registration until the registration statement filed
with the Commission, with respect to such Demand Registration, has been declared effective and the Company has complied with all of its
obligations under this Purchase Option with respect thereto.

 

5.1.3 Underwritten Offering.
If the Majority Holders so elect and such holders so advise the Company as part of the Initial Demand Notice, the offering of such Registrable
Securities pursuant to such Demand Registration shall be in the form of an underwritten offering. In such event, the right of any holder
to include its Registrable Securities in such registration shall be conditioned upon such holder’s participation in such underwriting
and the inclusion of such holder’s Registrable Securities in the underwriting to the extent provided herein. All Demanding Holders
proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with the
underwriter or underwriters selected for such underwriting by the Majority Holders.

 

5.1.4 Reduction of Offering.
If the managing underwriter or underwriters for a Demand Registration that is to be an underwritten offering advises the Company and the
Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities which the Demanding Holders desire to
sell, taken together with all other Shares or other securities which the Company desires to sell and the Shares or other securities, if
any, as to which registration has been requested pursuant to written contractual piggy-back registration rights held by other stockholders
of the Company who desire to sell, exceeds the maximum dollar amount or maximum number of shares that can be sold in such offering without
adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering (such
maximum dollar amount or maximum number of shares, as applicable, the “Maximum Number of Shares”), then the
Company shall include in such registration: (i) first, the Registrable Securities as to which Demand Registration has been requested by
the Demanding Holders (pro rata in accordance with the number of shares that each such person has requested be included in such registration,
regardless of the number of shares held by each such person (such proportion is referred to herein as “Pro Rata”))
that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not
been reached under the foregoing clause (i), the Shares or other securities that the Company desires to sell that can be sold without
exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (i) and (ii), the Shares or other securities registrable pursuant to the terms of the Registration Rights Agreement between the
Company and the initial investors in the Company, dated as of [●], 2022 (the “Registration Rights Agreement”
and such registrable securities, the “Investor Securities”) as to which “piggy-back” registration
has been requested by the holders thereof, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; and (iv) fourth,
to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii), and (iii), the Shares or other
securities for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements with
such persons and that can be sold without exceeding the Maximum Number of Shares.

 

    4

     

    

 

5.1.5 Withdrawal.
If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled to include all of their
Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to withdraw from such offering by
giving written notice to the Company and the underwriter or underwriters of their request to withdraw prior to the effectiveness of the
registration statement filed with the Commission with respect to such Demand Registration. If the majority-in-interest of the Demanding
Holders withdraws from a proposed offering relating to a Demand Registration, then the Company does not have to continue its obligations
under Section 5.1, provided that, any such withdrawal will not count as the Demand Registration if the Demanding
Holders pay all of the Company’s out-of-pocket expenses, with respect to such withdrawn registration.

 

5.1.6 Terms. The
Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses of one legal counsel
selected by the Holders to represent them in connection with the sale of the Registrable Securities, but the Holders shall pay any and
all underwriting commissions. The Company agrees to use its reasonable best efforts to qualify or register the Registrable Securities
in such states as are reasonably requested by the Majority Holder(s); provided, however, that in no event shall
the Company be required to register the Registrable Securities in a state in which such registration would cause (i) the Company to be
obligated to qualify to do business in such state, or would subject the Company to taxation as a foreign corporation doing business in
such jurisdiction or (ii) the principal stockholders of the Company to be obligated to escrow their shares of capital stock of the Company.
The Company shall use its best efforts to cause any registration statement or post-effective amendment filed pursuant to the demand rights
granted under Section 5.1.1 to remain effective for a period of nine (9) consecutive months from the effective date of
such registration statement or post-effective amendment.

 

5.2 Piggy-Back Registration.

 

5.2.1 Piggy-Back Rights.
If at any time during the seven year period commencing on the date of commencement of sales in the Offering, the Company proposes to file
a registration statement under the Act with respect to an offering of equity securities, or securities or other obligations exercisable
or exchangeable for, or convertible into, equity securities, by the Company for its own account or for stockholders of the Company for
their account (or by the Company and by stockholders of the Company including, without limitation, pursuant to Section 5.1),
other than a registration statement (i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange
offer or offering of securities solely to the Company’s existing stockholders, (iii) for an offering of debt that is convertible
into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall (x) give written notice of such
proposed filing to the holders of Registrable Securities as soon as practicable but in no event less than ten (10) days before the anticipated
filing date, which notice shall describe the amount and type of securities to be included in such offering, the intended method(s) of
distribution, and the name of the proposed managing underwriter or underwriters, if any, of the offering, and (y) offer to the holders
of Registrable Securities in such notice the opportunity to register the sale of such number of shares of Registrable Securities as such
holders may request in writing within five (5) days following receipt of such notice (a “Piggy-Back Registration”).
The Company shall cause such Registrable Securities to be included in such registration and shall use its best efforts to cause the managing
underwriter or underwriters of a proposed underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back
Registration on the same terms and conditions as any similar securities of the Company and to permit the sale or other disposition of
such Registrable Securities in accordance with the intended method(s) of distribution thereof. All holders of Registrable Securities proposing
to distribute their securities through a Piggy-Back Registration that involves an underwriter or underwriters shall enter into an underwriting
agreement in customary form with the underwriter or underwriters selected for such Piggy-Back Registration.

 

    5

     

    

 

5.2.2 Reduction of Offering.
If the managing underwriter or underwriters for a Piggy-Back Registration that is to be an underwritten offering advises the Company and
the holders of Registrable Securities in writing that the dollar amount or number of Registrable Securities which the Company desires
to sell, taken together with securities, if any, as to which registration has been demanded pursuant to written contractual arrangements
with persons other than the holders of Registrable Securities hereunder, the Registrable Securities as to which registration has been
requested under this Section 5.2, and the securities, if any, as to which registration has been requested pursuant to the
written contractual piggy-back registration rights of other stockholders of the Company, exceeds the Maximum Number of Shares, then the
Company shall include in any such registration:

 

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

 

(b) If the registration is
a “demand” registration undertaken at the demand of holders of Investor Securities, (A) first, the Shares or other securities
for the account of the demanding persons, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; (B) second, to the
extent that the Maximum Number of Shares has not been reached under the foregoing clause (A), the Shares or other securities that the
Company desires to sell that can be sold without exceeding the Maximum Number of Shares; (C) third, to the extent that the Maximum Number
of Shares has not been reached under the foregoing clauses (A) and (B), the shares of Registrable Securities, Pro Rata, as to which registration
has been requested pursuant to the terms hereof, that can be sold without exceeding the Maximum Number of Shares; and (D) fourth, to the
extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A), (B) and (C), the Shares or other securities
for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements with such persons,
that can be sold without exceeding the Maximum Number of Shares; and

 

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

 

5.2.3 Withdrawal.
Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable Securities in any
Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness of the registration
statement. The Company (whether on its own determination or as the result of a withdrawal by persons making a demand pursuant to written
contractual obligations) may withdraw a registration statement at any time prior to the effectiveness of the registration statement. Notwithstanding
any such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable Securities in connection with such Piggy-Back
Registration as provided in Section 5.2.4.

 

    6

     

    

 

5.2.4 Terms. The
Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses of one legal counsel
selected by the Holders to represent them in connection with the sale of the Registrable Securities but the Holders shall pay any and
all underwriting commissions related to the Registrable Securities. In the event of such a proposed registration, the Company shall furnish
the then Holders of outstanding Registrable Securities with not less than fifteen days written notice prior to the proposed date of filing
of such registration statement. Such notice to the Holders shall continue to be given for each applicable registration statement filed
(during the period in which the Purchase Option is exercisable) by the Company until such time as all of the Registrable Securities have
been registered and sold. The Holders of the Registrable Securities shall exercise the “piggy-back” rights provided for herein
by giving written notice within ten days of the receipt of the Company’s notice of its intention to file a registration statement.
The Company shall use its best efforts to cause any registration statement filed pursuant to the above “piggyback” rights
to remain effective for at least nine months from the date that the Holders of the Registrable Securities are first given the opportunity
to sell all of such securities.

 

5.3 General Terms.

 

5.3.1 Indemnification.
The Company shall, to the fullest extent permitted by applicable law, indemnify the Holder(s) of the Registrable Securities to be sold
pursuant to any registration statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of
the Act or Section 20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss,
claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating,
preparing or defending against litigation, commenced or threatened, or any claim whatsoever whether arising out of any action between
the underwriter and the Company or between the underwriter and any third party or otherwise) to which any of them may become subject under
the Act, the Exchange Act or otherwise, arising from such registration statement but only to the same extent and with the same effect
as the provisions pursuant to which the Company has agreed to indemnify the underwriters contained in Section 5 of the Underwriting Agreement
between the Company, Chardan and the other underwriters named therein dated [●], 2022 (“Underwriting Agreement”).
The Holder(s) of the Registrable Securities to be sold pursuant to such registration statement, and their successors and assigns, shall
severally, and not jointly, indemnify the Company, its officers and directors and each person, if any, who controls the Company within
the meaning of Section 15 of the Act or Section 20(a) of the Exchange Act, against all loss, claim, damage, expense or liability (including
all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing or defending against any claim
whatsoever) to which they may become subject under the Act, the Exchange Act or otherwise, arising from information furnished by or on
behalf of such Holders, or their successors or assigns, in writing, for specific inclusion in such registration statement or arising from
any omission or the alleged omission to state a material fact required to be stated therein or necessary to make the statement contained
therein not misleading in connection with the registration of the Registrable Securities, to the same extent and with the same effect
as the provisions contained in Section 5 of the Underwriting Agreement pursuant to which the underwriters have agreed to indemnify the
Company.

 

5.3.2 Exercise of Purchase
Option. Nothing contained in this Purchase Option shall be construed as requiring the Holder(s) to exercise their Purchase Option
or Rights or Warrants underlying such Purchase Option prior to or after the initial filing of any registration statement or the effectiveness
thereof.

 

5.3.3 Documents Delivered
to Holders. The Company shall furnish Chardan, as representative of the Holders participating in any of the foregoing offerings, a
signed counterpart, addressed to the participating Holders, of (i) an opinion of counsel to the Company, dated the effective date of such
registration statement (and, if such registration includes an underwritten public offering, an opinion dated the date of the closing under
any underwriting agreement related thereto), and (ii) a “cold comfort” letter dated the effective date of such registration
statement (and, if such registration includes an underwritten public offering, a letter dated the date of the closing under the underwriting
agreement) signed by the independent public accountants who have issued a report on the Company’s financial statements included
in such registration statement, in each case covering substantially the same matters with respect to such registration statement (and
the prospectus included therein) and, in the case of such accountants’ letter, with respect to events subsequent to the date of
such financial statements, as are customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered
to underwriters in underwritten public offerings of securities. The Company shall also deliver promptly to Chardan, as representative
of the Holders participating in the offering, the correspondence and memoranda described below and copies of all correspondence between
the Commission and the Company, its counsel or auditors and all memoranda relating to discussions with the Commission or its staff with
respect to the registration statement and permit Chardan, as representative of the Holders, to do such investigation, upon reasonable
advance notice, with respect to information contained in or omitted from the registration statement as it deems reasonably necessary to
comply with applicable securities laws or rules of FINRA. Such investigation shall include access to books, records and properties and
opportunities to discuss the business of the Company with its officers and independent auditors, all to such reasonable extent and at
such reasonable times and as often as Chardan, as representative of the Holders, shall reasonably request. The Company shall not be required
to disclose any confidential information or other records to Chardan, as representative of the Holders, or to any other person, until
and unless such persons shall have entered into reasonable confidentiality agreements (in form and substance reasonably satisfactory to
the Company), with the Company with respect thereto.

 

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5.3.4 Underwriting Agreement.
The Company shall enter into an underwriting agreement with the managing underwriter(s), if any, selected by any Holders whose Registrable
Securities are being registered pursuant to this Section 5, which managing underwriter shall be reasonably acceptable to the Company.
Such agreement shall be reasonably satisfactory in form and substance to the Company, each Holder and such managing underwriters, and
shall contain such representations, warranties and covenants by the Company and such other terms as are customarily contained in agreements
of that type used by the managing underwriter. The Holders shall be parties to any underwriting agreement relating to an underwritten
sale of their Registrable Securities and may, at their option, require that any or all the representations, warranties and covenants of
the Company to or for the benefit of such underwriters shall also be made to and for the benefit of such Holders. Such Holders shall not
be required to make any representations or warranties to or agreements with the Company or the underwriters except as they may relate
to such Holders and their intended methods of distribution. Such Holders, however, shall agree to such covenants and indemnification and
contribution obligations for selling stockholders as are customarily contained in agreements of that type used by the managing underwriter.
Further, such Holders shall execute appropriate custody agreements and otherwise cooperate fully in the preparation of the registration
statement and other documents relating to any offering in which they include securities pursuant to this Section 5. Each Holder shall
also furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition
of such securities as shall be reasonably required to effect the registration of the Registrable Securities.

 

5.3.5 Rule 144 Sale.
Notwithstanding anything contained in this Section 5 to the contrary, the Company shall have no obligation pursuant to Section
5.1 or 5.2 to use its best efforts to obtain the registration of Registrable Securities held by any Holder (i)
where such Holder would then be entitled to sell under Rule 144 within any three-month period (or such other period prescribed under Rule
144 as may be provided by amendment thereof) all of the Registrable Securities then held by such Holder, or (ii) where the number of Registrable
Securities held by such Holder is within the volume limitations under paragraph (e) of Rule 144 (calculated as if such Holder were an
affiliate within the meaning of Rule 144).

 

5.3.6 Supplemental Prospectus.
Each Holder agrees, that upon receipt of any notice from the Company of the happening of any event as a result of which the prospectus
included in the registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing,
such Holder will immediately discontinue disposition of Registrable Securities pursuant to the registration statement covering such Registrable
Securities until such Holder’s receipt of the copies of a supplemental or amended prospectus, and, if so desired by the Company,
such Holder shall deliver to the Company (at the expense of the Company) or destroy (and deliver to the Company a certificate of such
destruction) all copies, other than permanent file copies then in such Holder’s possession, of the prospectus covering such Registrable
Securities current at the time of receipt of such notice.

 

6. ADJUSTMENTS.

 

6.1 Adjustments to
Exercise Price and Number of Securities. The Exercise Price and the number of Units underlying the Purchase Option shall be subject
to adjustment from time to time as hereinafter set forth:

 

6.1.1 Stock Dividends
- Split-Ups. If after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding
shares of common stock of the Company is increased by a stock dividend payable in shares or by a split-up of shares or other similar event,
then, on the effective date thereof, the number of Shares underlying each of the Units, including the Rights, purchasable hereunder shall
be increased in proportion to such increase in outstanding shares. In such case, the number of Shares, and the exercise price applicable
thereto, underlying the Warrants underlying each of the Units purchasable hereunder shall be adjusted in accordance with the terms of
the Warrants.

 

6.1.2 Aggregation of
Shares. If after the date hereof, and subject to the provisions of Section 6.3, the number of outstanding shares of common
stock of the Company is decreased by a consolidation, combination or reclassification of Shares or other similar event, then, on the effective
date thereof, the number of Shares underlying each of the Units, including the Rights, purchasable hereunder shall be decreased in proportion
to such decrease in outstanding shares and the Exercise Price shall be proportionately increased. In such case, the number of Shares,
and the exercise price applicable thereto underlying the Warrants underlying each of the Units purchasable hereunder shall be adjusted
in accordance with the terms of the Public Warrants.

 

    8

     

    

 

6.1.3 Replacement of
Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of common stock of
the Company other than a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the
par value of such shares, or in the case of any merger or consolidation of the Company with or into another company (other than a consolidation
or merger in which the Company is the continuing entity and that does not result in any reclassification or reorganization of the outstanding
Shares), or in the case of any sale or conveyance to another company or entity of the property of the Company as an entirety or substantially
as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Option shall have the right thereafter (until
the expiration of the right of exercise of this Purchase Option) to receive upon the exercise hereof, for the same aggregate Exercise
Price payable hereunder immediately prior to such event, the kind and amount of 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,
by a Holder of the number of Shares of the Company obtainable upon exercise of this Purchase Option, the underlying Rights and the underlying
Warrants immediately prior to such event; and if any reclassification also results in a change in Shares covered by Section 6.1.1 or 6.1.2,
then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 and this Section 6.1.3.
The provisions of this Section 6.1.3 shall similarly apply to successive reclassifications, reorganizations, mergers
or consolidations, sales or other transfers.

 

6.1.4 Changes in Form
of Purchase Option. This form of Purchase Option need not be changed because of any change pursuant to this Section, and a Purchase
Option issued after such change may state the same Exercise Price and the same number of Units as are stated in the Purchase Option as
initially issued. The acceptance by any Holder of the issuance of a new Purchase Option reflecting a required or permissive change shall
not be deemed to waive any rights to an adjustment occurring after the Commencement Date or the computation thereof.

 

6.2 Substitute Purchase
Option. In case of any consolidation of the Company with, or merger of the Company with, or merger of the Company into, another entity
(other than a consolidation or merger which does not result in any reclassification or change of the outstanding shares of common stock
of the Company), the entity formed by such consolidation or merger shall execute and deliver to the Holder a supplemental Purchase Option
providing that the holder of each Purchase Option then outstanding or to be outstanding shall have the right thereafter (until the stated
expiration of such Purchase Option) to receive, upon exercise of such Purchase Option, the kind and amount of shares and other securities
and property receivable upon such consolidation or merger, by a holder of the number of Shares of the Company for which such Purchase
Option might have been exercised immediately prior to such consolidation, merger, sale or transfer. Such supplemental Purchase Option
shall provide for adjustments which shall be identical to the adjustments provided in Section 6. The above provision of this
Section shall similarly apply to successive consolidations or mergers.

 

6.3 Elimination of
Fractional Interests. The Company shall not be required to issue certificates representing fractions of Shares, Rights or Warrants
upon the exercise of the Purchase Option, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it
being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up to the nearest whole number
of Warrants, Rights, Shares or other securities, properties or rights (or as otherwise provided pursuant to the Warrant Agreement or Rights
Agreement, as the case may be).

 

7. RESERVATION
AND LISTING. The Company shall at all times reserve and keep available out of its authorized but unissued Shares, solely
for the purpose of issuance upon exercise of the Purchase Option or the Warrants or Rights underlying the Purchase Option, such number
of Shares or other securities, properties or rights as shall be issuable upon the exercise thereof. The Company covenants and agrees that,
upon exercise of the Purchase Option and payment of the Exercise Price therefor, all Shares and other securities issuable upon such exercise
shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any stockholder. The Company further
covenants and agrees that upon conversion of the Rights or exercise of the Warrants underlying the Purchase Option and payment of the
respective Warrant exercise price therefor, all Shares and other securities issuable upon such conversion or exercise shall be duly and
validly issued, fully paid and non-assessable and not subject to preemptive rights of any stockholders. As long as the Purchase Option
shall be outstanding, the Company shall use its best efforts to cause all (i) Units and Shares issuable upon exercise of the Purchase
Option, (ii) Warrants issuable upon exercise of the Purchase Option, (iii) Shares issuable upon exercise of the Warrants included in the
Units issuable upon exercise of the Purchase Option, (iv) Rights issuable upon exercise of the Purchase Option and (v) Shares underlying
the Rights included in the Units issuable upon exercise of the Purchase Option to be listed and/or quoted (subject to official notice
of issuance) on all securities exchanges (or, if applicable, on the OTC Bulletin Board or OTC Markets Group, Inc. or any successor trading
market) on which the Units, Shares, Rights or Warrants may then be listed and/or quoted.

 

    9

     

    

 

8. CERTAIN NOTICE REQUIREMENTS.

 

8.1 Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent as stockholders
for the election of directors or any other matter, or as having any rights whatsoever as stockholders of the Company. If, however, at
any time prior to the expiration of the Purchase Option and its exercise, any of the events described in Section 8.2 shall
occur, then, in each such event, the Company shall give written notice of such event at least fifteen days prior to the date fixed as
a record date or the date of closing the transfer books for the determination of the stockholders entitled to such dividend, distribution,
conversion or exchange of securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up
or sale. Such notice shall specify such record date or the date of the closing of the transfer books, as the case may be. Notwithstanding
the foregoing, the Company shall deliver to each Holder a copy of each notice given to the other stockholders of the Company at the same
time and in the same manner that such notice is given to the stockholders.

 

8.2 Events Requiring
Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of the following events: (i)
if the Company shall take a record of the holders of its Shares for the purpose of entitling them to receive a dividend or distribution
payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained earnings, as indicated by the
accounting treatment of such dividend or distribution on the books of the Company, or (ii) the Company shall offer to all the holders
of its Shares any additional shares of capital stock of the Company or securities convertible into or exchangeable for shares of capital
stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation or winding up of the
Company (other than in connection with a consolidation or merger) or a sale of all or substantially all of its property, assets and business
shall be proposed.

 

8.3 Notice of Change
in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to Section 6 hereof,
send notice to the Holders of such event and change (“Price Notice”). The Price Notice shall describe the event
causing the change and the method of calculating same and shall be certified as being true and accurate by the Company’s Chief Executive
Officer.

 

8.4 Transmittal of
Notices. All notices, requests, consents and other communications under this Purchase Option shall be in writing and shall be deemed
to have been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the registered Holder of the
Purchase Option, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company, to the following address
or to such other address as the Company may designate by notice to the Holders:

 

Redwoods Acquisition Corp.

1115 Broadway, 12th
Floor

New York, NY 10010

Attn: Jiande Chen,
Chief Executive Officer

E-mail: jiande.chen@rewoodsac.com

 

9. MISCELLANEOUS.

 

9.1 Amendment The
Company and Chardan may from time to time supplement or amend this Purchase Option without the approval of any of the Holders in order
to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with any other provisions
herein, or to make any other provisions in regard to matters or questions arising hereunder that the Company and Chardan may deem necessary
or desirable and that the Company and Chardan deem shall not adversely affect the interest of the Holders. All other modifications or
amendments shall require the written consent of and be signed by the party against whom enforcement of the modification or amendment is
sought.

 

9.2 Headings.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning
or interpretation of any of the terms or provisions of this Purchase Option.

 

    10

     

    

 

9.3 Entire Agreement.
This Purchase Option (together with the other agreements and documents being delivered pursuant to or in connection with this Purchase
Option) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements
and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

9.4 Binding Effect.
This Purchase Option shall inure solely to the benefit of and shall be binding upon the Holder and the Company and their permitted assignees,
respective successors, legal representatives and assigns, and no other person shall have or be construed to have any legal or equitable
right, remedy or claim under or in respect of or by virtue of this Purchase Option or any provisions herein contained.

 

9.5 Governing Law;
Submission to Jurisdiction. This Purchase Option shall be governed by and construed and enforced in accordance with the laws of the
State of New York, without giving effect to conflict of laws principles thereof. Each of the Holder and the Company hereby agrees that
any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Option shall be brought and enforced
in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District of New York, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the Holder and the Company hereby waives any objection to
such exclusive jurisdiction and that such courts represent an inconvenient forum. Any 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 8.4 hereof. Such mailing shall be deemed personal service and shall be legal and binding
upon the Company in any action, proceeding or claim. The Company and the Holder agree that the prevailing party(ies) in any such action
shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees and expenses relating to such action
or proceeding and/or incurred in connection with the preparation therefore.

 

9.6 Waiver, Etc.
The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Option shall not be deemed or construed
to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Option or any provision hereof or the right
of the Company or any Holder to thereafter enforce each and every provision of this Purchase Option. No waiver of any breach, non-compliance
or non-fulfillment of any of the provisions of this Purchase Option shall be effective unless set forth in a written instrument executed
by the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such breach, non-compliance or
non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach or non-compliance.

 

9.7 Execution in Counterparts.
This Purchase Option may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of
which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement, and shall become
effective when one or more counterparts has been signed by each of the parties hereto and delivered to each of the other parties hereto.

 

9.8 Exchange Agreement.
As a condition of the Holder’s receipt and acceptance of this Purchase Option, Holder agrees that, at any time prior to the complete
exercise of this Purchase Option by Holder, if the Company and Chardan enter into an agreement (“Exchange Agreement”)
pursuant to which they agree that all outstanding Purchase Options will be exchanged for securities or cash or a combination of both,
then Holder shall agree to such exchange and become a party to the Exchange Agreement.

 

[Signature Page Follows]

 

    11

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Purchase Option to be signed by its duly authorized officer as of the ___ day of _______, 2022.

 

	 	REDWOODS ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:	Jiande Chen
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Purchase Option]

 

    12

     

    

 

Form to be used to exercise Purchase Option

 

Redwoods Acquisition Corp.

1115 Broadway, 12th Floor

New York, NY 10010

 

The undersigned hereby elects irrevocably to exercise
all or a portion of the within Purchase Option and to purchase ____ Units of Redwoods Acquisition Corp. and hereby makes payment of $____________
(at the rate of $_________ per Unit) in payment of the Exercise Price pursuant thereto. Please issue the securities as to which this Purchase
Option is exercised in accordance with the instructions given below.

 

Or

 

The undersigned hereby elects irrevocably to convert
its right to purchase _________ Units purchasable under the within Purchase Option by surrender of the unexercised portion of the attached
Purchase Option (with a “Value” based of $_______ based on a “Market Price” of $_______). Please issue the securities
comprising the Units as to which this Purchase Option is exercised in accordance with the instructions given below.

 

Dated:___________________, 20___

 

	 	 
	 	Signature

 

	 	 
	 	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the purchase option 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).

 

    13

     

    

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

Name

	 
	(Print in Block Letters)
	Address

 

 

 

 

 

    14

     

    

 

Form to be used to assign Purchase Option:

 

ASSIGNMENT

 

(To be executed by the registered Holder to effect
a transfer of the within Purchase Option):

 

FOR VALUE RECEIVED,____________________________________________ does hereby sell, assign and transfer
unto___________________________________________ the right to purchase __________ Units of Redwoods Acquisition Corp. (“Company”)
evidenced by the within Purchase Option and does hereby authorize the Company to transfer such right on the books of the Company.

 

Dated:___________________, 20___

 

	 	 
	 	Signature

 

	 	 
	 	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the purchase option 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).

 

 

 

15

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