Document:

Exhibit 4.5

       

      

      DESCRIPTION OF SECURITIES

       

      

      The following description of the securities of Sports Entertainment Acquisition Corp. (the “company,” “we” or “us”) is a summary and does not purport to be complete. It is subject to and qualified in its entirety by
        reference to the Company’s amended and restated certificate of incorporation, bylaws and the Company’s warrant agreement with Continental Stock Transfer & Trust company, as Warrant agent (the “Warrant Agreement”), each of which is incorporated
        by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.5 is a part. We encourage you to read such documents for additional information.

       

      

      Pursuant to our amended and restated certificate of incorporation, our authorized capital stock consists of 200,000,000 shares of Class A common stock, $0.0001 par value (the “Class A Common Stock”), 20,000,000
        shares of Class B common stock (the “Class B Common Stock”), $0.0001 par value, and 1,000,000 shares of undesignated preferred stock, $0.0001 par value.

       

      

      Units

       

      

      Each Unit consists of one share of Class A Common Stock and one-half of one redeemable Warrant. Each whole Warrant entitles the holder thereof to purchase one share of our Class A Common Stock at a price of $11.50
        per share, subject to adjustment. Pursuant to the Warrant Agreement, a Warrant holder may exercise its Warrants only for a whole number of shares of Class A Common Stock. This means that only a whole Warrant may be exercised at any given time by a
        Warrant holder. No fractional Warrants will be issued upon separation of the Units and only whole Warrants will trade.

       

      

      Additionally, the Units will automatically separate into their component parts and will not be traded after completed of our initial business combination.

       

      

      Common Stock

       

      

      Common stockholders of record are entitled to one vote for each share held on all matters to be voted on by stockholders. Other than as described below, holders of the Class A Common Stock and holders of the Class B
        Common Stock vote together as a single class on all matters submitted to a vote of our stockholders, including any vote in connection with our initial business combination, except as required by law. Unless specified in our amended and restated
        certificate of incorporation or bylaws, or as required by applicable provisions of the DGCL or applicable stock exchange rules, the affirmative vote of a majority of our shares of common stock that are voted is required to approve any such matter
        voted on by our stockholders. Each of our directors will serve for a term of two years. There is no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of the shares voted for the election
        of directors can elect all of the directors. Our stockholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. Prior to our initial business combination, only
        holders of our founder shares will have the right to vote on the election of directors. Holders of our Public Shares are not entitled to vote on the election of directors during such time. In addition, prior to the completion of an initial business
        combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason.

       

      

      Because our amended and restated certificate of incorporation authorizes the issuance of up to only 200,000,000 shares of Class A Common Stock, if we were to enter into an initial business combination, we may
        (depending on the terms of such an initial business combination) be required to increase the number of shares of Class A Common Stock which we are authorized to issue at the same time as our stockholder vote on the initial business combination to
        the extent we seek stockholder approval in connection with our initial business combination.

       

      

      In accordance with the NYSE corporate governance requirements, we are not required to hold an annual meeting until one year after our first fiscal year end following our listing on the NYSE. Under Section 211(b) of
        the DGCL, we are, however, required to hold an annual meeting of stockholders for the purposes of electing directors in accordance with our bylaws, unless such election is made by written consent in lieu of such a meeting. We may not hold an annual
        meeting of stockholders to elect new directors prior to the consummation of our initial business combination, and thus we may not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting. Therefore, if our stockholders
        want us to hold an annual meeting prior to the consummation of our initial business combination, they may attempt to force us to hold one by submitting an application to the Delaware Court of Chancery in accordance with Section 211(c) of the DGCL.

      

      

      
        
          

      

      We will provide our public stockholders with the opportunity to redeem all or a portion of their Public Shares upon (i) the completion of our initial business combination or (ii) a stockholder vote to approve an
        amendment to our amended and restated certificate of incorporation (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our Public Shares if we do not
        complete our initial business combination within 24 months from the closing of the Initial Public Offering or (B) with respect to any other provision relating to stockholders’ rights or pre-initial business combination activity. Such redemptions,
        if any, will be made at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days prior to the event triggering the right to redeem, including interest earned on the funds held in
        the Trust Account and not previously released to us to pay our franchise and income tax obligations, divided by the number of then outstanding Public Shares, subject to the limitations described herein. The per-share amount we will distribute to
        investors who properly redeem their shares will not be reduced by the deferred underwriting commissions we will pay to the underwriter. Our initial stockholders have entered into a letter agreement with us, pursuant to which they have agreed to
        waive their redemption rights with respect to any founder shares and any Public Shares held by them in connection with the completion of our initial business combination, or a stockholder vote to approve an amendment to our amended and restated
        certificate of incorporation, as described above. Unlike many blank check companies that hold stockholder votes and conduct proxy solicitations in conjunction with their initial business combinations and provide for related redemptions of Public
        Shares for cash upon completion of such initial business combinations even when a vote is not required by law, if a stockholder vote is not required by law and we do not decide to hold a stockholder vote for business or other reasons, we will,
        pursuant to our amended and restated certificate of incorporation, conduct the redemptions pursuant to the tender offer rules of the SEC, and file tender offer documents with the SEC prior to completing our initial business combination. Our amended
        and restated certificate of incorporation will require these tender offer documents to contain substantially the same financial and other information about the initial business combination and the redemption rights as is required under the SEC’s
        proxy rules. If, however, a stockholder approval of the transaction is required by law, or we decide to obtain stockholder approval for business or other reasons, we will, like many blank check companies, offer to redeem shares in conjunction with
        a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek stockholder approval, we will complete our initial business combination only if a majority of the outstanding shares of common stock voted are
        voted in favor of the initial business combination. A quorum for such meeting will consist of the holders present in person or by proxy of shares of outstanding capital stock of the company representing a majority of the voting power of all
        outstanding shares of capital stock of the company entitled to vote at such meeting.

       

      

      However, the participation of our Sponsor, officers, directors, advisors or their affiliates in privately-negotiated transactions, if any, could result in the approval of our initial business combination even if a
        majority of our public stockholders vote, or indicate their intention to vote, against such business combination. For purposes of seeking approval of the majority of our outstanding shares of common stock voted, non-votes will have no effect on the
        approval of our initial business combination once a quorum is obtained. We intend to give approximately 30 days (but not less than 10 days nor more than 60 days) prior written notice of any such meeting, if required, at which a vote shall be taken
        to approve our initial business combination. These quorum and voting thresholds, and the voting agreements of our initial stockholders, may make it more likely that we will consummate our initial business combination.

       

      

      If we seek stockholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our amended and restated
        certificate of incorporation provides that a public stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act),
        will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares of common stock sold in the Initial Public Offering, which we refer to as the Excess Shares. However, we would not be restricting our
        stockholders’ ability to vote all of their shares (including Excess Shares) for or against our initial business combination. Our stockholders’ inability to redeem the Excess Shares will reduce their influence over our ability to complete our
        initial business combination, and such stockholders could suffer a material loss in their investment if they sell such Excess Shares on the open market. Additionally, such stockholders will not receive redemption distributions with respect to the
        Excess Shares if we complete the initial business combination. And, as a result, such stockholders will continue to hold that number of shares exceeding 15% and, in order to dispose such shares would be required to sell their stock in open market
        transactions, potentially at a loss.

      

      
        
          

      

      If we seek stockholder approval in connection with our initial business combination, pursuant to the letter agreement, our initial stockholders have agreed to vote their founder shares and any Public Shares purchased
        during or after the Initial Public Offering (including in open market and privately negotiated transactions) in favor of our initial business combination. Additionally, each public stockholder may elect to redeem its Public Shares irrespective of
        whether they vote for or against the proposed transaction (subject to the limitation described in the preceding paragraph).

       

      

      Pursuant to our amended and restated certificate of incorporation, if we do not complete our initial business combination within 24 months from the closing of the Initial Public Offering or during any Extension
        Period, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter subject to lawfully available funds therefor, redeem the Public Shares, at a
        per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay our franchise and income tax obligations
        (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further
        liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject
        in each case to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. Our initial stockholders have entered into a letter agreement with us, pursuant to which they have agreed to waive
        their rights to liquidating distributions from the Trust Account with respect to any founder shares held by them if we fail to complete our initial business combination within 24 months from the closing of the Initial Public Offering or any
        extended time that we have to consummate a business combination beyond 24 months as a result of a stockholder vote to amend our amended and restated certificate of incorporation. However, our initial stockholders are entitled to liquidating
        distributions from the Trust Account with respect to any Public Shares they have acquired after our Initial Public Offering if we fail to complete our initial business combination within the prescribed time period.

       

      

      In the event of a liquidation, dissolution or winding up of the company after an initial business combination, our stockholders are entitled to share ratably in all assets remaining available for distribution to them
        after payment of liabilities and after provision is made for each class of stock, if any, having preference over the common stock. Our stockholders have no preemptive or other subscription rights. There are no sinking fund provisions applicable to
        the common stock, except that we will provide our stockholders with the opportunity to redeem their Public Shares for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account, upon the completion of our
        initial business combination, subject to the limitations described herein.

       

      

      Founder Shares

       

      

      The founder shares are identical to the shares of Class A Common Stock except that (i) the founder shares are subject to certain transfer restrictions, as described in more detail below, (ii) our initial stockholders
        have entered into a letter agreement with us, pursuant to which they have agreed (A) to waive their redemption rights with respect to any founder shares and any Public Shares held by them in connection with the completion of our initial business
        combination, (B) to waive their redemption rights with respect to their founder shares and Public Shares in connection with a stockholder vote to approve an amendment to our amended and restated certificate of incorporation (x) to modify the
        substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our Public Shares if we do not complete our initial business combination within 24 months from the closing of the
        Initial Public Offering or during any Extension Period or (y) with respect to any other provision relating to stockholders’ rights or pre-initial business combination activity and (C) to waive their rights to liquidating distributions from the
        Trust Account with respect to any founder shares held by them if we fail to complete our initial business combination within 24 months from the closing of the Initial Public Offering or during any Extension Period, although they will be entitled to
        liquidating distributions from the Trust Account with respect to any Public Shares they hold if we fail to complete our initial business combination within such time period, (iii) the founder shares are shares of our Class B Common Stock that will
        automatically convert into shares of our Class A Common Stock at the time of our initial business combination, or at any time prior thereto at the option of the holder, on a one-for-one basis, subject to adjustment as described herein, and (iv) are
        entitled to registration rights. If we submit our initial business combination to our public stockholders for a vote, our initial stockholders have agreed pursuant to the letter agreement to vote any founder shares held by them and any Public
        Shares purchased during or after the Initial Public Offering (including in open market and privately negotiated transactions) in favor of our initial business combination.

      

      

      
        
          

      

      The shares of Class B Common Stock will automatically convert into shares of Class A Common Stock at the time of our initial business combination on a one-for-one basis (subject to adjustment for stock splits, stock
        dividends, reorganizations, recapitalizations and the like), and subject to further adjustment as provided herein. In the case that additional shares of Class A Common Stock, or equity-linked securities, are issued or deemed issued in excess of the
        amounts offered in this Form 10-K and related to the closing of the initial business combination, the ratio at which shares of Class B Common Stock shall convert into shares of Class A Common Stock will be adjusted (unless the holders of a majority
        of the outstanding shares of Class B Common Stock agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of shares of Class A Common Stock issuable upon conversion of all shares of Class B Common
        Stock will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of all shares of common stock outstanding upon completion of the Initial Public Offering, plus (ii) all shares of Class A Common Stock and
        equity-linked securities issued or deemed issued in connection with the initial business combination (excluding any shares of Class A Common Stock or equity-linked securities issued, or to be issued, to any seller in the initial business
        combination, and any private placement-equivalent Warrants issued to our Sponsor or its affiliates upon conversion of loans made to us). We cannot determine at this time whether a majority of the holders of our Class B Common Stock at the time of
        any future issuance would agree to waive such adjustment to the conversion ratio. They may waive such adjustment due to (but not limited to) the following: (i) closing conditions which are part of the agreement for our initial business combination;
        (ii) negotiation with Class A stockholders on structuring an initial business combination; or (iii) negotiation with parties providing financing which would trigger the anti-dilution provisions of the Class B Common Stock If such adjustment is not
        waived, the issuance would not reduce the percentage ownership of holders of our Class B Common Stock, but would reduce the percentage ownership of holders of our Class A Common Stock. If such adjustment is waived, the issuance would reduce the
        percentage ownership of holders of both classes of our common stock. Holders of founder shares may also elect to convert their shares of Class B Common Stock into an equal number of shares of Class A Common Stock, subject to adjustment as provided
        above, at any time. Securities could be “deemed issued” for purposes of the conversion rate adjustment if such shares are issuable upon the conversion or exercise of convertible securities, Warrants or similar securities.

       

      

      With certain limited exceptions, the founder shares are not transferable, assignable or salable (except to our officers and directors and other persons or entities affiliated with our Sponsor, each of whom will be
        subject to the same transfer restrictions) until the earlier of (A) one year after the completion of our initial business combination or (B) subsequent to our initial business combination, (x) if the last reported sale price of our Class A Common
        Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial
        business combination, or (y) the date on which we complete a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of our stockholders having the right to exchange their shares of common stock
        for cash, securities or other property.

       

      

      Prior to our initial business combination, only holders of our founder shares will have the right to vote on the election of directors. Holders of our Public Shares will not be entitled to vote on the election of
        directors during such time. In addition, prior to the completion of an initial business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. These provisions of our amended and
        restated certificate of incorporation may only be amended by a resolution passed by a majority of our Class B Common Stock. With respect to any other matter submitted to a vote of our stockholders, including any vote in connection with our initial
        business combination, except as required by law, holders of our founder shares and holders of our Public Shares will vote together as a single class, with each share entitling the holder to one vote.

       

      

      
        
          

      

      
        Redeemable Warrants

         

        

        Public Stockholders’ Warrants

         

        

        Each whole Warrant entitles the registered holder to purchase one share of our Class A Common Stock at a price of $11.50 per share, subject to adjustment as discussed below, at any time commencing on the later of
          12 months from the closing of the Initial Public Offering or 30 days after the completion of our initial business combination. Pursuant to the Warrant Agreement, a Warrant holder may exercise its Warrants only for a whole number of shares of
          Class A Common Stock. This means that only a whole Warrant may be exercised at any given time by a Warrant holder. No fractional Warrants will be issued upon separation of the Units and only whole Warrants will trade. The Warrants will expire
          five years after the completion of our initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

         

        

        We are not obligated to deliver any shares of Class A Common Stock pursuant to the exercise of a Warrant and will have no obligation to settle such Warrant exercise unless a registration statement under the
          Securities Act of 1933, as amended, (the “Securities Act”) with respect to the shares of Class A Common Stock underlying the Warrants is then effective and a prospectus relating thereto is current, subject to our satisfying our obligations
          described below with respect to registration. No Warrant will be exercisable and we will not be obligated to issue shares of Class A Common Stock upon exercise of a Warrant unless Class A Common Stock issuable upon such Warrant exercise has been
          registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the Warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect
          to a Warrant, the holder of such Warrant will not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless. In no event will we be required to net cash settle any Warrant. In the event that a registration
          statement is not effective for the exercised Warrants, the purchaser of a Unit containing such Warrant will have paid the full purchase price for the Unit solely for the share of Class A Common Stock underlying such Unit.

         

        

        We are not registering the shares of Class A Common Stock issuable upon exercise of the Warrants at this time. However, we have agreed that as soon as practicable, but in no event later than 15 business days after
          the closing of our initial business combination, we will use our commercially reasonable efforts to file with the SEC a registration statement covering the shares of Class A Common Stock issuable upon exercise of the Warrants. We will use our
          commercially reasonable efforts to cause such registration statement to become effective within 60 business days after the closing of our initial business combination and to maintain a current prospectus relating to those shares of Class A Common
          Stock until the Warrants expire or are redeemed, as specified in the Warrant Agreement; provided that if shares of our Class A Common Stock are at the time of any exercise of a Warrant not listed on a national securities exchange and, as such, do
          not satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of Public Warrants who exercise their Warrants to do so on a “cashless basis” in accordance with Section
          3(a)(9) of the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect a registration statement, but we will use our commercially reasonably efforts to register or qualify the shares under applicable
          blue sky laws to the extent an exemption is not available. If a registration statement covering the shares of Class A Common Stock issuable upon exercise of the Warrants is not effective by the 60th business day after the closing of our initial
          business combination, Warrant holders may, until such time as there is an effective registration statement and during any period when we will have failed to maintain an effective registration statement, exercise Warrants on a “cashless basis” in
          accordance with Section 3(a)(9) of the Securities Act or another exemption. In such event, each holder would pay the exercise price by surrendering the Warrants for that number of shares of Class A Common Stock equal to the lesser of (A) the
          quotient obtained by dividing (x) the product of the number of shares of Class A Common Stock underlying the Warrants, multiplied by the excess of the “fair market value” of our Class A Common Stock over the exercise price of the Warrants by (y)
          the fair market value and (B) 0.361 per whole Warrant. The “fair market value” as used in this paragraph shall mean the average of the last reported sale prices of the Class A Common Stock for the ten trading days ending on the third trading day
          prior to the date on which the notice of exercise is received by the Warrant agent. If that exemption, or another exemption, is not available, holders will not be able to exercise their Warrants on a cashless basis.

         

        

        Redemption of Warrants when the price per share of Class A Common Stock equals or exceeds $18.00. Once the Warrants become exercisable, we may redeem the outstanding
          Warrants (except as described herein with respect to the Private Placement Warrants):

         

        

        	

              	
                •

              	in whole and not in part;

        	

              	
                •

              	at a price of $0.01 per Warrant;

        	

              	
                •

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

         

        

        
          
            

        

        	

              	
                •

              	if, and only if, the last reported sale price of the Class A Common Stock for any 20 trading days within a 30-trading day period ending three trading days before we send the notice of redemption
                to the Warrant holders (which we refer to as the “Reference Value”) equals or exceeds $18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a Warrant as described under the
                heading “-Redeemable Warrants-Public Stockholders’ Warrants-Anti-Dilution Adjustments”).

         

        

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

         

        

        We have established the last of the redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the Warrant exercise price. If the foregoing
          conditions are satisfied and we issue a notice of redemption of the Warrants, each Warrant holder will be entitled to exercise his, her or its Warrant prior to the scheduled redemption date. Any such exercise would not be done on a “cashless”
          basis and would require the exercising Warrant holder to pay the exercise price for each Warrant being exercised. However, the price of the Class A Common Stock may fall below the $18.00 redemption trigger price (as adjusted for adjustments to
          the number of shares issuable upon exercise or the exercise price of a Warrant as described under the heading “-Warrants-Public Stockholders’ Warrants-Anti-Dilution Adjustments”) as well as the $11.50 (for whole shares) Warrant exercise price
          after the redemption notice is issued.

         

        

        Redemption of Warrants when the price per share of Class A Common Stock equals or exceeds $10.00. Once the Warrants become exercisable, we may redeem the outstanding
          Warrants:

         

        

        	

              	
                •

              	in whole and not in part;

        	

              	
                •

              	at $0.10 per Warrant upon a minimum of 30 days’ prior written notice of redemption, provided that holders will be able to exercise their Warrants on a
                cashless basis prior to redemption and receive that number of shares determined by reference to the table below, based on the redemption date and the “fair market value” of our Class A Common Stock (as defined below in the immediately
                following paragraph) except as otherwise described below;

        	

              	
                •

              	if, and only if, the Reference Value (as defined above under the heading “-Redeemable Warrants-Public Stockholders’ Warrants-Redemption of Warrants when the price per share of Class A Common Stock
                equals or exceeds $18.00”) equals or exceeds $10.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a Warrant as described under the heading “-Redeemable Warrants-Public
                Stockholders’ Warrants-Anti-Dilution Adjustments”); and

        	

              	
                •

              	if the Reference Value is less than $18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a Warrant as described under the heading
                “-Redeemable Warrants-Public Stockholders’ Warrants-Anti-Dilution Adjustments”), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above.

         

        

        Beginning on the date the notice of redemption is given until the Warrants are redeemed or exercised, holders who elect to exercise their Warrants may do so on a cashless basis. The numbers in the table below
          represent the number of shares of Class A Common Stock that a Warrant holder will receive upon such cashless exercise in connection with a redemption by us pursuant to this redemption feature, based on the “fair market value” of our Class A
          Common Stock on the corresponding redemption date (assuming holders elect to exercise their Warrants and such Warrants are not redeemed for $0.10 per Warrant), determined for these purposes based on the volume-weighted average price of our Class
          A Common Stock as reported during the ten trading days immediately following the date on which the notice of redemption is sent to the holders of Warrants, and the number of months that the corresponding redemption date precedes the expiration
          date of the Warrants, each as set forth in the table below. We will provide our Warrant holders with the final fair market value no later than one business day after the ten-trading day period described above ends.

         

        

        Pursuant to the Warrant Agreement, references above to Class A Common Stock shall include a security other than Class A Common Stock into which the Class A Common Stock have been converted or exchanged for in the
          event we are not the surviving company in our initial business combination. The numbers in the table below will not be adjusted when determining the number of Class A Common Stock to be issued upon exercise of the Warrants if we are not the
          surviving entity following our initial business combination.

        

        
          
            

        

        The share prices set forth in the column headings of the table below will be adjusted as of any date on which the number of shares issuable upon exercise of a Warrant or the exercise price of a Warrant is adjusted
          as set forth under the heading “-Anti-Dilution Adjustments” below. If the number of shares issuable upon exercise of a Warrant is adjusted, the adjusted share prices in the column headings will equal the share prices immediately prior to such
          adjustment, multiplied by a fraction, the numerator of which is the exercise price of the Warrant after such adjustment and the denominator of which is the price of the Warrant immediately prior to such adjustment. In such an event, the number of
          shares in the table below shall be adjusted by multiplying such share amounts by a fraction, the numerator of which is the number of shares deliverable upon exercise of a Warrant immediately prior to such adjustment and the denominator of which
          is the number of shares deliverable upon exercise of a Warrant as so adjusted. If the exercise price of a Warrant is adjusted, (a) in the case of an adjustment pursuant to the fifth paragraph under the heading “-Anti-Dilution Adjustments” below,
          the adjusted share prices in the column headings will equal the unadjusted share price multiplied by a fraction, the numerator of which is the higher of the Market Value and the Newly Issued Price as set forth under the heading “-Anti-Dilution
          Adjustments” and the denominator of which is $10.00 and (b) in the case of an adjustment pursuant to the second paragraph under the heading “- Anti-Dilution Adjustments” below, the adjusted share prices in the column headings will equal the
          unadjusted share price less the decrease in the exercise price of a Warrant pursuant to such exercise price adjustment.

        

        

        	
                Redemption Date

                (period to expiration of Warrants)

              	
                ​

              	
                Fair Market Value of Class A Common Stock

              
	 	
                ​

              	
                <10.00

              	
                ​

              	
                11.00

              	
                ​

              	
                12.00

              	
                ​

              	
                13.00

              	
                ​

              	
                14.00

              	
                ​

              	
                15.00

              	
                ​

              	
                16.00

              	
                ​

              	
                17.00

              	
                ​

              	
                >18.00

              
	
                60 months

              	
                ​

              	
                0.261

              	
                ​

              	
                0.281

              	
                ​

              	
                0.297

              	
                ​

              	
                0.311

              	
                ​

              	
                0.324

              	
                ​

              	
                0.337

              	
                ​

              	
                0.348

              	
                ​

              	
                0.358

              	
                ​

              	
                0.361

              
	
                57 months

              	
                ​

              	
                0.257

              	
                ​

              	
                0.277

              	
                ​

              	
                0.294

              	
                ​

              	
                0.310

              	
                ​

              	
                0.324

              	
                ​

              	
                0.337

              	
                ​

              	
                0.348

              	
                ​

              	
                0.358

              	
                ​

              	
                0.361

              
	
                54 months

              	
                ​

              	
                0.252

              	
                ​

              	
                0.272

              	
                ​

              	
                0.291

              	
                ​

              	
                0.307

              	
                ​

              	
                0.322

              	
                ​

              	
                0.335

              	
                ​

              	
                0.347

              	
                ​

              	
                0.357

              	
                ​

              	
                0.361

              
	
                51 months

              	
                ​

              	
                0.246

              	
                ​

              	
                0.268

              	
                ​

              	
                0.287

              	
                ​

              	
                0.304

              	
                ​

              	
                0.320

              	
                ​

              	
                0.333

              	
                ​

              	
                0.346

              	
                ​

              	
                0.357

              	
                ​

              	
                0.361

              
	
                48 months

              	
                ​

              	
                0.241

              	
                ​

              	
                0.263

              	
                ​

              	
                0.283

              	
                ​

              	
                0.301

              	
                ​

              	
                0.317

              	
                ​

              	
                0.332

              	
                ​

              	
                0.344

              	
                ​

              	
                0.356

              	
                ​

              	
                0.361

              
	
                45 months

              	
                ​

              	
                0.235

              	
                ​

              	
                0.258

              	
                ​

              	
                0.279

              	
                ​

              	
                0.298

              	
                ​

              	
                0.315

              	
                ​

              	
                0.330

              	
                ​

              	
                0.343

              	
                ​

              	
                0.356

              	
                ​

              	
                0.361

              
	
                42 months

              	
                ​

              	
                0.228

              	
                ​

              	
                0.252

              	
                ​

              	
                0.274

              	
                ​

              	
                0.294

              	
                ​

              	
                0.312

              	
                ​

              	
                0.328

              	
                ​

              	
                0.342

              	
                ​

              	
                0.355

              	
                ​

              	
                0.361

              
	
                39 months

              	
                ​

              	
                0.221

              	
                ​

              	
                0.246

              	
                ​

              	
                0.269

              	
                ​

              	
                0.290

              	
                ​

              	
                0.309

              	
                ​

              	
                0.325

              	
                ​

              	
                0.340

              	
                ​

              	
                0.354

              	
                ​

              	
                0.361

              
	
                36 months

              	
                ​

              	
                0.213

              	
                ​

              	
                0.239

              	
                ​

              	
                0.263

              	
                ​

              	
                0.285

              	
                ​

              	
                0.305

              	
                ​

              	
                0.323

              	
                ​

              	
                0.339

              	
                ​

              	
                0.353

              	
                ​

              	
                0.361

              
	
                33 months

              	
                ​

              	
                0.205

              	
                ​

              	
                0.232

              	
                ​

              	
                0.257

              	
                ​

              	
                0.280

              	
                ​

              	
                0.301

              	
                ​

              	
                0.320

              	
                ​

              	
                0.337

              	
                ​

              	
                0.352

              	
                ​

              	
                0.361

              
	
                30 months

              	
                ​

              	
                0.196

              	
                ​

              	
                0.224

              	
                ​

              	
                0.250

              	
                ​

              	
                0.274

              	
                ​

              	
                0.297

              	
                ​

              	
                0.316

              	
                ​

              	
                0.335

              	
                ​

              	
                0.351

              	
                ​

              	
                0.361

              
	
                27 months

              	
                ​

              	
                0.185

              	
                ​

              	
                0.214

              	
                ​

              	
                0.242

              	
                ​

              	
                0.268

              	
                ​

              	
                0.291

              	
                ​

              	
                0.313

              	
                ​

              	
                0.332

              	
                ​

              	
                0.350

              	
                ​

              	
                0.361

              
	
                24 months

              	
                ​

              	
                0.173

              	
                ​

              	
                0.204

              	
                ​

              	
                0.233

              	
                ​

              	
                0.260

              	
                ​

              	
                0.285

              	
                ​

              	
                0.308

              	
                ​

              	
                0.329

              	
                ​

              	
                0.348

              	
                ​

              	
                0.361

              
	
                21 months

              	
                ​

              	
                0.161

              	
                ​

              	
                0.193

              	
                ​

              	
                0.223

              	
                ​

              	
                0.252

              	
                ​

              	
                0.279

              	
                ​

              	
                0.304

              	
                ​

              	
                0.326

              	
                ​

              	
                0.347

              	
                ​

              	
                0.361

              
	
                18 months

              	
                ​

              	
                0.146

              	
                ​

              	
                0.179

              	
                ​

              	
                0.211

              	
                ​

              	
                0.242

              	
                ​

              	
                0.271

              	
                ​

              	
                0.298

              	
                ​

              	
                0.322

              	
                ​

              	
                0.345

              	
                ​

              	
                0.361

              
	
                15 months

              	
                ​

              	
                0.130

              	
                ​

              	
                0.164

              	
                ​

              	
                0.197

              	
                ​

              	
                0.230

              	
                ​

              	
                0.262

              	
                ​

              	
                0.291

              	
                ​

              	
                0.317

              	
                ​

              	
                0.342

              	
                ​

              	
                0.361

              
	
                12 months

              	
                ​

              	
                0.111

              	
                ​

              	
                0.146

              	
                ​

              	
                0.181

              	
                ​

              	
                0.216

              	
                ​

              	
                0.250

              	
                ​

              	
                0.282

              	
                ​

              	
                0.312

              	
                ​

              	
                0.339

              	
                ​

              	
                0.361

              
	
                9 months

              	
                ​

              	
                0.090

              	
                ​

              	
                0.125

              	
                ​

              	
                0.162

              	
                ​

              	
                0.199

              	
                ​

              	
                0.237

              	
                ​

              	
                0.272

              	
                ​

              	
                0.305

              	
                ​

              	
                0.336

              	
                ​

              	
                0.361

              
	
                6 months

              	
                ​

              	
                0.065

              	
                ​

              	
                0.099

              	
                ​

              	
                0.137

              	
                ​

              	
                0.178

              	
                ​

              	
                0.219

              	
                ​

              	
                0.259

              	
                ​

              	
                0.296

              	
                ​

              	
                0.331

              	
                ​

              	
                0.361

              
	
                3 months

              	
                ​

              	
                0.034

              	
                ​

              	
                0.065

              	
                ​

              	
                0.104

              	
                ​

              	
                0.150

              	
                ​

              	
                0.197

              	
                ​

              	
                0.243

              	
                ​

              	
                0.286

              	
                ​

              	
                0.326

              	
                ​

              	
                0.361

              
	
                0 months

              	
                ​

              	
                -

              	
                ​

              	
                -

              	
                ​

              	
                0.042

              	
                ​

              	
                0.115

              	
                ​

              	
                0.179

              	
                ​

              	
                0.233

              	
                ​

              	
                0.281

              	
                ​

              	
                0.323

              	
                ​

              	
                0.361

              

        

        
          
            

        

        The exact fair market value and redemption date may not be set forth in the table above, in which case, if the fair market value is between two values in the table or the redemption date is between two redemption
          dates in the table, the number of shares of Class A Common Stock to be issued for each Warrant exercised will be determined by a straight-line interpolation between the number of shares set forth for the higher and lower fair market values and
          the earlier and later redemption dates, as applicable, based on a 365 or 366-day year, as applicable. For example, if the volume weighted average price of our Class A Common Stock as reported during the ten trading days immediately following the
          date on which the notice of redemption is sent to the holders of Warrants is $11.00 per share, and at such time there are 57 months until the expiration of the Warrants, holders may choose to, in connection with this redemption feature, exercise
          their Warrants for 0.277 shares of Class A Common Stock for each whole Warrant. For an example where the exact fair market value and redemption date are not as set forth in the table above, if the volume weighted average price of our Class A
          Common Stock as reported during the ten trading days immediately following the date on which the notice of redemption is sent to the holders of Warrants is $13.50 per share, and at such time there are 38 months until the expiration of the
          Warrants, holders may choose to, in connection with this redemption feature, exercise their Warrants for 0.298 shares of Class A Common Stock for each whole Warrant. In no event will the Warrants be exercisable on a cashless basis in connection
          with this redemption feature for more than 0.361 shares of Class A Common Stock per whole Warrant (subject to adjustment). Finally, as reflected in the table above, if the Warrants are out of the money and about to expire, they cannot be
          exercised on a cashless basis in connection with a redemption by us pursuant to this redemption feature, since they will not be exercisable for any Class A Common Stock.

         

        

        This redemption feature differs from the typical Warrant redemption features used in some other blank check offerings, which typically only provide for a redemption of Warrants for cash (other than the Private
          Placement Warrants) when the trading price for the Class A Common Stock exceeds $18.00 per share for a specified period of time. This redemption feature is structured to allow for all of the outstanding Warrants to be redeemed when the Class A
          Common Stock are trading at or above $10.00 per share, which may be at a time when the trading price of our Class A Common Stock is below the exercise price of the Warrants. We have established this redemption feature to provide us with the
          flexibility to redeem the Warrants without the Warrants having to reach the $18.00 per share threshold set forth above under “-Redemption of Warrants when the price per share of Class A Common Stock equals or exceeds $18.00.” Holders choosing to
          exercise their Warrants in connection with a redemption pursuant to this feature will, in effect, receive a number of shares for their Warrants based on an option pricing model with a fixed volatility input as of the effective date of the
          Company’s registration statement covering the Initial Public Offering. This redemption right provides us with an additional mechanism by which to redeem all of the outstanding Warrants, and therefore have certainty as to our capital structure as
          the Warrants would no longer be outstanding and would have been exercised or redeemed. We will be required to pay the applicable redemption price to Warrant holders if we choose to exercise this redemption right and it will allow us to quickly
          proceed with a redemption of the Warrants if we determine it is in our best interest to do so. As such, we would redeem the Warrants in this manner when we believe it is in our best interest to update our capital structure to remove the Warrants
          and pay the redemption price to the Warrant holders.

         

        

        As stated above, we can redeem the Warrants when the shares of Class A Common Stock are trading at a price starting at $10.00, which is below the exercise price of $11.50, because it will provide certainty with
          respect to our capital structure and cash position while providing Warrant holders with the opportunity to exercise their Warrants on a cashless basis for the applicable number of shares. If we choose to redeem the Warrants when the shares of
          Class A Common Stock are trading at a price below the exercise price of the Warrants, this could result in the Warrant holders receiving fewer shares of Class A Common Stock than they would have received if they had chosen to wait to exercise
          their Warrants for shares of Class A Common Stock if and when such shares of Class A Common Stock were trading at a price higher than the exercise price of $11.50.

         

        

        No fractional shares of Class A Common Stock will be issued upon exercise. If, upon exercise, a holder would be entitled to receive a fractional interest in a share, we will round down to the nearest whole number
          of the number of shares of Class A Common Stock to be issued to the holder. If, at the time of redemption, the Warrants are exercisable for a security other than Class A Common Stock pursuant to the Warrant Agreement (for instance, if we are not
          the surviving company in our initial business combination), the Warrants may be exercised for such security. At such time as the Warrants become exercisable for a security other than Class A Common Stock, the Company (or surviving company) will
          use its commercially reasonable efforts to register under the Securities Act the security issuable upon the exercise of the Warrants.

         

        

        Redemption procedures. A holder of a Warrant may notify us in writing in the event it elects to be subject to a requirement that such holder will not have the right to
          exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such person’s affiliates or any person subject to aggregation with such person for the purposes of the “beneficial ownership” test under
          Section 13 of the Exchange Act, or any “group” (within the meaning of Section 13 of the Exchange Act) of which such person is or may be deemed to be a part), to the Warrant agent’s actual knowledge, would beneficially own in excess of 4.9% or
          9.8% (or such other amount as a holder may specify) of the shares of Class A Common Stock outstanding immediately after giving effect to such exercise.

        

        
          
            

        

        Anti-dilution adjustments. If the number of outstanding shares of Class A Common Stock is increased by a stock dividend payable in shares of Class A Common Stock, or by a
          split-up of shares of Class A Common Stock or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares of Class A Common Stock issuable on exercise of each Warrant will be increased
          in proportion to such increase in the outstanding shares of Class A Common Stock. A rights offering to holders of Class A Common Stock entitling holders to purchase shares of Class A Common Stock at a price less than the historical fair market
          value (as defined below) will be deemed a stock dividend of a number of shares of Class A Common Stock equal to the product of (i) the number of shares of Class A Common Stock actually sold in such rights offering (or issuable under any other
          equity securities sold in such rights offering that are convertible into or exercisable for Class A Common Stock) and (ii) one minus the quotient of (x) the price per share of Class A Common Stock paid in such rights offering divided by (y) the
          historical fair market value. For these purposes (i) if the rights offering is for securities convertible into or exercisable for Class A Common Stock, in determining the price payable for Class A Common Stock, there will be taken into account
          any consideration received for such rights, as well as any additional amount payable upon conversion or exercise and (ii) “historical fair market value” means the volume weighted average price of Class A Common Stock as reported during the ten
          trading day period ending on the trading day prior to the first date on which the shares of Class A Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights.

         

        

        In addition, if we, at any time while the Warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to the holders of Class A Common Stock on account of such
          shares of Class A Common Stock (or other shares of our capital stock into which the Warrants are convertible), other than (a) as described above, (b) certain ordinary cash dividends (initially defined as up to $0.50 per share in a 365 day
          period), (c) to satisfy the redemption rights of the holders of Class A Common Stock in connection with the completion of our initial business combination, (d) to satisfy the redemption rights of the holders of Class A Common Stock in connection
          with a stockholder vote to approve an amendment to our amended and restated certificate of incorporation (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem
          100% of our Public Shares if we do not complete our initial business combination within 24 months from the closing of the Initial Public Offering or (B) with respect to any other provision relating to stockholders’ rights or pre-initial business
          combination activity, or (e) in connection with the redemption of our Public Shares upon our failure to complete our initial business combination, then the Warrant exercise price will be decreased, effective immediately after the effective date
          of such event, by the amount of cash and/or the fair market value of any securities or other assets paid on each share of Class A Common Stock in respect of such event.

         

        

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

         

        

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

        

        
          
            

        

        In case of any reclassification or reorganization of the outstanding shares of Class A Common Stock (other than those described above or that solely affects the par value of such shares of Class A Common Stock), or
          in the case of any merger or consolidation of us with or into another corporation (other than a consolidation or merger in which we are the continuing corporation and that does not result in any reclassification or reorganization of our
          outstanding shares of Class A Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of us as an entirety or substantially as an entirety in connection with which we are dissolved,
          the holders of the Warrants will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the shares of our Class A Common Stock immediately theretofore
          purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or
          consolidation, or upon a dissolution following any such sale or transfer, that the holder of the Warrants would have received if such holder had exercised their Warrants immediately prior to such event. If less than 70% of the consideration
          receivable by the holders of Class A Common Stock in such a transaction is payable in the form of Class A Common Stock in the successor entity that is listed for trading on a national securities exchange or is quoted in an established
          over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if the registered holder of the Warrant properly exercises the Warrant within thirty days following public disclosure of such transaction,
          the Warrant exercise price will be reduced as specified in the Warrant Agreement based on the Black-Scholes value (as defined in the Warrant Agreement) of the Warrant. The purpose of such exercise price reduction is to provide additional value to
          holders of the Warrants when an extraordinary transaction occurs during the exercise period of the Warrants pursuant to which the holders of the Warrants otherwise do not receive the full potential value of the Warrants in order to determine and
          realize the option value component of the Warrant. This formula is to compensate the Warrant holder for the loss of the option value portion of the Warrant due to the requirement that the Warrant holder exercise the Warrant within 30 days of the
          event. The Black-Scholes model is an accepted pricing model for estimating fair market value where no quoted market price for an instrument is available.

         

        

        The Warrants are issued in registered form under the Warrant Agreement. You should review a copy of the Warrant Agreement, which is incorporated by reference as an exhibit to the Annual Report on Form 10-K of which
          this Exhibit 4.5 forms a part for a complete description of the terms and conditions applicable to the Warrants. The Warrant Agreement provides that the terms of the Warrants may be amended without the consent of any holder to cure any ambiguity
          or correct any defective provision, but requires the approval by the holders of at least 50% of the then outstanding Public Warrants to make any change that adversely affects the interests of the registered holders of Public Warrants.

         

        

        The Warrant holders do not have the rights or privileges of holders of Class A Common Stock and any voting rights until they exercise their Warrants and receive shares of Class A Common Stock. After the issuance of
          shares of Class A Common Stock upon exercise of the Warrants, each holder will be entitled to one (1) vote for each share held of record on all matters to be voted on by stockholders.

         

        

        No fractional shares will be issued upon exercise of the Warrants. If, upon exercise of the Warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round down to
          the nearest whole number of shares of Class A Common Stock to be issued to the Warrant holder.

         

        

        Private Placement Warrants

         

        

        The Private Placement Warrants (including the Class A Common Stock issuable upon exercise of the Private Placement Warrants) will not be transferable, assignable or salable until 30 days after the completion of our
          initial business combination (except, among other limited exceptions to our officers and directors and other persons or entities affiliated with our Sponsor) and they will not be redeemable by us (except as described above under “Redeemable
          Warrants-Public Stockholders’ Warrants-Redemption of Warrants when the price per share of Class A Common Stock equals or exceeds $10.00”) so long as they are held by our Sponsor or its permitted transferees. Our Sponsor, or its permitted
          transferees, has the option to exercise the Private Placement Warrants on a cashless basis. Except as described below, the Private Placement Warrants have terms and provisions that are identical to those of the Warrants sold as part of the Units
          in the Initial Public Offering, including as to exercise price, exercisability and exercise period. If the Private Placement Warrants are held by holders other than the Sponsor or its permitted transferees, the Private Placement Warrants will be
          redeemable by us and exercisable by the holders on the same basis as the Warrants included in the Units being sold in the Initial Public Offering.

      

    

    

    
      
        

    

    
      Except as described above under “-Public Stockholders’ Warrants-Redemption of Warrants when the price per share of Class A Common Stock equals or exceeds $10.00,” if holders of the Private Placement Warrants elect to
        exercise them on a cashless basis, they would pay the exercise price by surrendering the Warrants for that number of shares of Class A Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A Common
        Stock underlying the Warrants, multiplied by the excess of the “fair market value” of our Class A Common Stock over the exercise price of the Warrants by (y) the fair market value. The “fair market value” shall mean the average of the last reported
        sale prices of the Class A Common Stock for the ten trading days ending on the third trading day prior to the date on which the notice of exercise is received by the Warrant agent or on which the notice of redemption is sent to the holders of
        Warrants, as applicable. The reason that we have agreed that these Warrants will be exercisable on a cashless basis so long as they are held by the Sponsor or its permitted transferees is because it is not known at this time whether they will be
        affiliated with us following an initial business combination. If they remain affiliated with us, their ability to sell our securities in the open market will be significantly limited. We expect to have policies in place that prohibit insiders from
        selling our securities except during specific periods of time. Even during such periods of time when insiders will be permitted to sell our securities, an insider cannot trade in our securities if he or she is in possession of material non-public
        information. Accordingly, unlike public stockholders who could sell the shares of Class A Common Stock issuable upon exercise of the Warrants freely in the open market, the insiders could be significantly restricted from doing so. As a result, we
        believe that allowing the holders to exercise such Warrants on a cashless basis is appropriate.

       

      

      In order to finance transaction costs in connection with an intended initial business combination, our Sponsor or an affiliate of our Sponsor or certain of our officers and directors may, but are not obligated to,
        loan us funds as may be required. Up to $2,000,000 of such loans may be convertible into Warrants at a price of $1.00 per Warrant at the option of the lender. Such Warrants would be identical to the Private Placement Warrants, including as to
        exercise price, exercisability and exercise period. The terms of such working capital loans by our Sponsor or its affiliates, or our officers and directors, if any, have not been determined and no written agreements exist with respect to such
        loans.

       

      

      Our Sponsor has agreed not to transfer, assign or sell any of the Private Placement Warrants (including the Class A Common Stock issuable upon exercise of any of these Warrants) until the date that is 30 days after
        the date we complete our initial business combination, except for, among other limited exceptions, transfers made to our officers and directors and other persons or entities affiliated with our Sponsor.

       

      

      Our Transfer Agent and Warrant Agent

       

      

      The transfer agent for our common stock and Warrant agent for our Warrants is Continental Stock Transfer & Trust Company. We have agreed to indemnify Continental Stock Transfer & Trust Company in its roles as
        transfer agent and Warrant agent, its agents and each of its stockholders, directors, officers and employees against all claims and losses that may arise out of acts performed or omitted for its activities in that capacity, except for any liability
        due to any gross negligence, willful misconduct or bad faith of the indemnified person or entity.

       

      

      Our Amended and Restated Certificate of Incorporation

       

      

      Our amended and restated certificate of incorporation contains certain requirements and restrictions relating to the Initial Public Offering that will apply to us until the completion of our initial business
        combination. These provisions cannot be amended without the approval of the holders of at least 65% of our outstanding common stock. Our initial stockholders, who collectively beneficially own 20% of our common stock, may participate in any vote to
        amend our amended and restated certificate of incorporation and will have the discretion to vote in any manner they choose. Unless specified in our amended and restated certificate of incorporation or bylaws, or as required by applicable law or
        stock exchange rules, the affirmative vote of a majority of the outstanding shares of our common stock that are voted is required to approve any such matter voted on by our stockholders, and, prior to our initial business combination, the
        affirmative vote of holders of a majority of the outstanding shares of our Class B common stock is required to approve the election or removal of directors. Specifically, our amended and restated certificate of incorporation provides, among other
        things, that:

      

      
        
          

      

      	

            	
              •

            	if we have not completed our initial business combination within 24 months from the closing of the Initial Public Offering, we will: (1) cease all operations except for the purpose of winding up;
              (2) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest
              (which interest shall be net of taxes payable, and less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders’ rights
              as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law; and (3) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders
              and our board of directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law;

      	

            	
              •

            	prior to our initial business combination, we may not issue additional shares of capital stock that would entitle the holders thereof to: (1) receive funds from the trust account; or (2) vote
              pursuant to our amended and restated certificate of incorporation on any initial business combination;

      	

            	
              •

            	although we do not currently intend to enter into a business combination with a target business that is affiliated with our sponsor, its members, our directors or our officers, we are not prohibited
              from doing so. In the event we enter into such a transaction, we, or a committee of independent and disinterested directors, will obtain an opinion from an independent investment banking firm or from an independent accounting firm that such a
              business combination is fair to our company from a financial point of view;

      	

            	
              •

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

      	

            	
              •

            	our initial business combination must be with one or more operating businesses or assets with a fair market value equal to at least 80% of the net assets held in the trust account (excluding the
              amount of any deferred underwriting discount);

      	

            	
              •

            	if our stockholders approve an amendment to our amended and restated certificate of incorporation (A) to modify the substance or timing of our obligation to allow redemptions in connection with our
              initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of the Initial Public Offering or (B) with respect to any other provision relating to
              stockholders’ rights or pre-initial business combination activity, we will provide our public stockholders with the opportunity to redeem all or a portion of their shares of common stock upon such approval at a per-share price, payable in
              cash, equal to the aggregate amount then on deposit in the trust account, including interest (which interest shall be net of taxes payable), divided by the number of then outstanding public shares; and

      
        	

              	
                •

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

        

      

      In addition, our amended and restated certificate of incorporation will provide that under no circumstances will we redeem our Public Shares in an amount that would cause our net tangible assets to be less than
        $5,000,001 upon consummation of our initial business combination and after payment of deferred underwriting commissions.

       

      

      Certain Anti-Takeover Provisions of Delaware Law and our Amended and Restated Certificate of Incorporation and Bylaws

       

      

      We are subject to the provisions of Section 203 of the DGCL regulating corporate takeovers upon completion of the Initial Public Offering. This statute prevents certain Delaware corporations, under certain
        circumstances, from engaging in a “business combination” with:

       

      

      	

            	
              •

            	a stockholder who owns 15% or more of our outstanding voting stock (otherwise known as an “interested stockholder”);

      	

            	
              •

            	an affiliate of an interested stockholder; or

      	

            	
              •

            	an associate of an interested stockholder, for three years following the date that the stockholder became an interested stockholder.

       

      

      
        
          

      

      A “business combination” includes a merger or sale of more than 10% of our assets. However, the above provisions of Section 203 do not apply if:

       

      

      	

            	
              •

            	our board of directors approves the transaction that made the stockholder an “interested stockholder,” prior to the date of the transaction;

      	

            	
              •

            	after the completion of the transaction that resulted in the stockholder becoming an interested stockholder, that stockholder owned at least 85% of our voting stock outstanding at the time the
              transaction commenced, other than statutorily excluded shares of common stock; or

      	

            	
              •

            	on or subsequent to the date of the transaction, the business combination is approved by our board of directors and authorized at a meeting of our stockholders, and not by written consent, by an
              affirmative vote of at least two-thirds of the outstanding voting stock not owned by the interested stockholder.

       

      

      Our authorized but unissued common stock and preferred stock are available for future issuances without stockholder approval (including a specified future issuance) and could be utilized for a variety of corporate
        purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and preferred stock could render more difficult or discourage an attempt
        to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

       

      

      Our amended and restated certificate of incorporation provides that prior to our initial business combination, holders of our Class B common stock will have the right to elect all of our directors and may remove
        members of our board of directors for any reason. As a result, prior to our initial business combination, it is unlikely that any person other than our sponsor will be able to gain control of our board.

      

      

      Exclusive forum for certain lawsuits

       

      

      Our amended and restated certificate of incorporation requires, to the fullest extent permitted by law, that derivative actions brought in our name, actions against directors, officers and employees for breach of
        fiduciary duty and other similar actions may be brought only in the Court of Chancery in the State of Delaware, except any action (A) as to which the Court of Chancery in the State of Delaware determines that there is an indispensable party not
        subject to the jurisdiction of the Court of Chancery (and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery within ten days following such determination), (B) which is vested in the exclusive
        jurisdiction of a court or forum other than the Court of Chancery, (C) for which the Court of Chancery does not have subject matter jurisdiction, or (D) any action created by the Exchange Act or any other claim for which the federal courts have
        exclusive jurisdiction. If an action is brought outside of Delaware, the stockholder bringing the suit will be deemed to have consented to service of process on such stockholder’s counsel. Unless we consent in writing to the selection of an
        alternative forum, the federal district courts of the United States shall be the exclusive forum for any action arising under the Securities Act. Although we believe this provision benefits us by providing increased consistency in the application
        of Delaware law in the types of lawsuits to which it applies, a court may determine that this provision is unenforceable, and to the extent it is enforceable, the provision may have the effect of discouraging lawsuits against our directors and
        officers, although our stockholders will not be deemed to have waived our compliance with federal securities laws and the rules and regulations thereunder.

       

      

      Our amended and restated certificate of incorporation provides that the exclusive forum provision will be applicable to the fullest extent permitted by applicable law. Section 27 of the Exchange Act creates exclusive
        federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. As a result, the exclusive forum provision will not apply to suits brought to enforce any duty or
        liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction.

       

      

      Special meeting of stockholders

       

      

      Our bylaws provide that special meetings of our stockholders may be called only by a majority vote of our board of directors, by either our President or our Chairman.

      

      
        
          

      

      Advance notice requirements for stockholder proposals and director nominations

       

      

      Our bylaws provide for advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations made by or at the direction of our board of
        directors or a committee of our board of directors. In order for any matter to be “properly brought” before a meeting, a stockholder will have to comply with advance notice requirements and provide us with certain information. Generally, to be
        timely, a stockholder’s notice must be received at our principal executive offices not less than 90 days nor more than 120 days prior to the first anniversary date of the immediately preceding annual meeting of stockholders. Our bylaws will also
        specify requirements as to the form and content of a stockholder’s notice. Our bylaws allow the chairman of the meeting at a meeting of the stockholders to adopt rules and regulations for the conduct of meetings, which may have the effect of
        precluding the conduct of certain business at a meeting if the rules and regulations are not followed. These provisions may also defer, delay or discourage a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s own
        slate of directors or otherwise attempting to influence or obtain control of us.

       

      

      Action by written consent

       

      

      Subsequent to the consummation of the Initial Public Offering, any action required or permitted to be taken by our common stockholders must be effected by a duly called annual or special meeting of such stockholders
        and may not be effected by written consent of the stockholders other than with respect to our Class B Common Stock.

       

      

      Only holders of the founder shares vote to elect directors

       

      

      Prior to our initial business combination, only holders of our founder shares will have the right to vote on the election of directors. Holders of our Public Shares will not be entitled to vote on the election of
        directors during such time. In addition, prior to the completion of an initial business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason.

       

      

      Listing of Securities

       

      

      Our Units, Class A Common Stock and Warrants are listed on the NYSE under the symbols “SEAH.U,” “SEAH” and “SEAH WS,” respectively.Exhibit 10.1

 

	SHARE REPURCHASE AGREEMENT
	 
	 
	 
	June 15, 2021 
	 
	 
	
    By and between

     

    WILLSCOT MOBILE MINI HOLDINGS CORP.

     

    and

     

    SAPPHIRE HOLDING S.Á R.L.

     

 

     

     

    

 

Contents

 

	Article	 	 Page
	1.	Repurchase	1
	2.	Representations and Warranties of the Selling Stockholder	2
	3.	Representations and Warranties of the Company	2
	4.	Conditions to Closing	3
	5.	Tax Treatment	3
	6.	Miscellaneous	3

 

     

     

    

 

SHARE REPURCHASE AGREEMENT

 

	 

 

THIS
SHARE REPURCHASE AGREEMENT (this “Agreement”) is made and entered into as of June 15, 2021,

 

BY
AND BETWEEN:

 

		(1)	WILLSCOT MOBILE MINI HOLDINGS CORP., a Delaware corporation (the “Company”); and

 

		(2)	SAPPHIRE HOLDING S.Á R.L., a société à responsabilité limitée
organized under the laws of Luxembourg (the “Selling Stockholder”),

 

which is selling Shares (as defined below) in
the Secondary Offering (as defined below).

 

WHEREAS:

 

		(A)	The Selling Stockholder owns 43,798,390 shares (the “Shares”) of common stock, par value $0.0001
per share, of the Company (the “Common Stock”);

 

		(B)	The Company and the Selling Stockholder propose to enter into a transaction (the “Repurchase Transaction”)
whereby the Selling Stockholder shall sell to the Company and the Company shall purchase from the Selling Stockholder 3,900,000 of the
Shares (the “Repurchase Shares”) at the Per Share Repurchase Price (as defined below); and

 

		(C)	The Selling Stockholder proposes to sell through an underwritten public offering registered with the Securities
and Exchange Commission(the “Secondary Offering”) at least 14,000,000 of the Shares (the “Secondary Shares”).

 

NOW,
THEREFORE, in consideration of the foregoing, of the mutual promises herein set forth, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed as follows:

 

		1.	Repurchase

 

		1.1	Repurchase of Shares

 

The Selling Stockholder shall sell to
the Company, and the Company shall purchase from the Selling Stockholder, all the Repurchase Shares, under the terms and subject to the
conditions hereof and in reliance upon the representations, warranties and agreements contained herein, at the Closing (as defined below),
at the per share price at which the Secondary Shares are sold to the underwriter(s) through the Secondary Offering (the “Per
Share Repurchase Price”).

 

		1.2	Closing

 

		(a)	The closing of the Repurchase Transaction (the “Closing”) shall take place via the electronic
exchange of documents and signature pages immediately subsequent to the satisfaction or waiver of the conditions set forth in Section 4
herein (with the date upon which such satisfaction or waiver occurs being referred to here as the “Closing Date”) or at such
other time, date or place as the Selling Stockholder and the Company may agree in writing.

 

    1

     

    

 

		(b)	At the Closing, the Selling Stockholder shall deliver the stock certificates representing the Repurchase
Shares sold by the Selling Stockholder to the Company, duly endorsed for transfer to the Company, or as instructed by the Company, and
the Company agrees to deliver to the Selling Stockholder a dollar amount equal to the product of the Per Share Repurchase Price and the
number of Repurchase Shares sold by the Selling Stockholder by wire transfer of immediately available funds.

 

		2.	Representations and Warranties of the Selling Stockholder

 

The Selling Stockholder represents and
warrants to the Company as follows:

 

		(a)	Title to Repurchase Shares

 

The Selling Stockholder has good and valid
title to the Repurchase Shares to be sold at the Closing Date by the Selling Stockholder, free and clear of all liens, encumbrances, equities
or adverse claims. The Selling Stockholder will have, immediately prior to the Closing, good and valid title to the Repurchase Shares
to be sold at the Closing Date by the Selling Stockholder, free and clear of all liens, encumbrances, equities or adverse claims; and,
upon delivery of such Repurchase Shares and payment therefor pursuant hereto, good and valid title to such Repurchase Shares, free and
clear of all liens, encumbrances, equities or adverse claims, will pass to the Company.

 

		(b)	Required Consents; Authority

 

Except as would not impair in any material
respect the ability of the Selling Stockholder to consummate its obligations hereunder, all consents, approvals, authorizations, orders
and qualifications necessary for the execution, delivery and performance by the Selling Stockholder of this Agreement, and for the sale
and delivery of the Repurchase Shares to be sold by the Selling Stockholder hereunder, have been obtained; and the Selling Stockholder
has full right, power and authority to enter into, execute and deliver this Agreement and to sell, assign, transfer and deliver the Repurchase
Shares to be sold by the Selling Stockholder hereunder; this Agreement has been duly authorized, executed and delivered by or on behalf
of the Selling Stockholder.

 

		(c)	Receipt of Information

 

The Selling Stockholder has received all
the information it considers necessary or appropriate for deciding whether to consummate the Repurchase Transaction on the terms provided
by this Agreement. The Selling Stockholder has had an opportunity to ask questions of and to receive answers from, the Company concerning
the Company, the Repurchase Shares and the transactions described in this Agreement. The Selling Stockholder has had the opportunity to
discuss with its tax advisors the consequences of the transactions described in this Agreement. The Selling Stockholder has not received,
nor is it relying on, any representations or warranties from the Company other than as provided herein, and the Company hereby disclaims
any other express or implied representations or warranties with respect to itself.

 

    2

     

    

 

		3.	Representations and Warranties of the Company

 

The Company represents and warrants
to the Selling Stockholder as follows:

 

		(a)	Authority Relative to this Agreement

 

Except as would not impair in any material
respect the ability of the Company to consummate its obligations hereunder, the Company has full corporate power and authority, and has
obtained all approvals and consents required to enter into, to execute and deliver this Agreement and to perform its obligations hereunder;
and all action required to be taken for the due and proper authorization, execution and delivery by it of this Agreement and the consummation
by it of the transactions contemplated hereby has been duly and validly taken.

 

		(b)	Approvals

 

Except as would not impair in any material
respect the ability of the Company to consummate its obligations hereunder, no consent, approval, authorization, order, registration or
qualification of or with any court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance
by the Company of this Agreement and the consummation of the transactions contemplated by this Agreement.

 

		4.	Conditions to Closing

 

		4.1	Completion of Secondary Offering

 

The obligations of the Company to purchase
the Repurchase Shares at the Closing are subject to the fulfillment on or prior to the Closing of the condition that the Secondary Offering
shall have been consummated in accordance with the terms and conditions of any underwriting or purchase agreement entered into in connection
therewith.

 

		5.	Tax Treatment

 

The parties hereto agree to treat the
purchase of the Repurchase Shares by the Company contemplated under this Agreement, along with the Secondary Offering, as “substantially
disproportionate” with respect to the Selling Shareholder for purposes of Section 302(b)(2) of the U.S. Internal Revenue
Code of 1986, as amended, and agree to file relevant tax returns (including IRS Forms 1099) consistent with such treatment except upon
a contrary final determination by an applicable taxing authority. In addition, the Company agrees not to treat the purchase of the Repurchase
Shares under this Agreement as a dividend subject to U.S. federal withholding tax.

 

		6.	Miscellaneous

 

		6.1	Termination

 

This Agreement may be terminated at
any time by the mutual written consent of each of the parties hereto. Furthermore, unless such date is extended by the mutual written
consent of each of the parties hereto, this Agreement shall automatically terminate and be of no further force and effect in the event
that the conditions in Section 4.1 of this Agreement have not been satisfied within ten (10) Business Days after the date hereof.

 

		6.2	Savings Clause

 

No provision of this Agreement shall
be construed to require any party or its affiliates to take any action that would violate any applicable law (whether statutory or common),
rule or regulation.

 

    3

     

    

 

		6.3	Amendment and Waiver

 

This Agreement may not be amended except
by an instrument in writing signed on behalf of each of the parties hereto. Any party may waive in whole or in part any benefit or right
provided to it under this Agreement, such waiver being effective only if set forth in a writing executed by such party (and by the Company,
in the case of any waiver by the Selling Stockholder). No course of dealing between or among any persons having any interest in this Agreement
will be deemed effective to modify, amend or discharge any part of this Agreement or any rights or obligations of any party under or by
reason of this Agreement. The failure of any party to enforce any of the provisions of this Agreement shall in no way be construed as
a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this Agreement
in accordance with its terms.

 

		6.4	Severability

 

If any provision of this Agreement shall
be declared by any court of competent jurisdiction to be illegal, void or unenforceable, all other provisions of this Agreement shall
not be affected and shall remain in full force and effect.

 

		6.5	Entire Agreement

 

Except as otherwise expressly set forth
herein, this Agreement, together with the agreements and other documents and instruments referred to herein or therein or annexed hereto
and executed contemporaneously herewith, embody the complete agreement and understanding among the parties hereto with respect to the
subject matter hereof and supersede and preempt any prior understandings, agreements or representations by or among the parties, written
or oral, that may have related to the subject matter hereof in any way.

 

		6.6	Successors and Assigns

 

Neither this Agreement nor any of the
rights or obligations of any party under this Agreement shall be assigned, in whole or in part by any party without the prior written
consent of the other parties.

 

		6.7	No Third Party Beneficiaries

 

No person other than the parties hereto
shall have any rights or benefits under this Agreement, and nothing in this Agreement is intended to, or will, confer on any person other
than the parties hereto any rights, benefits or remedies.

 

		6.8	No Broker

 

Except as previously disclosed to each
other party in writing, no party has engaged any third party as broker or finder or incurred or become obligated to pay any broker's commission
or finder's fee in connection with the transactions contemplated by this Agreement. Except as previously disclosed to each other party
in writing, no party has engaged any third party as broker or finder or incurred or become obligated to pay any broker's commission or
finder's fee in connection with the transactions contemplated by this Agreement.

 

		6.9	Counterparts

 

This Agreement may be executed in separate
counterparts each of which shall be an original and all of which taken together shall constitute one and the same agreement

 

    4

     

    

 

		6.10	Notices

 

All notices and other communications
to any party hereunder shall be in writing (including facsimile transmission and e-mail transmission, so long as a receipt of such e-mail
is requested and received) and shall be given,

 

 

 

If to Company:

 

WillScot Mobile Mini
Holdings Corp.

4646 E. Van Buren
Street

Phoenix, AZ 85008

Attn: Christopher
J. Miner

Phone: (480) 477-0241

Email: cminer@mobilemini.com

 

If to Selling Stockholder:

 

Sapphire Holding
S.á r.l

20 rue Eugene Ruppert

Luxembourg L 2453

Grand Duchy of Luxembourg

Attn: Gary May /
Evelina Ezerinskaite

Phone: +352 26 49
32 98

Email:
Notifications@tdrcapital.com / tdrlux@tdrcapital.com

 

		6.11	Governing Law; Consent to Jurisdiction

 

This Agreement and any claim, controversy
or dispute arising under or related to this Agreement shall be governed by and construed in accordance with the laws of the State of New
York applicable to agreements made and to be performed in such state.

 

		6.12	Interpretation

 

The headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. The words "hereof,"
 "herein" and "hereunder" and words of similar import when used in this Agreement shall refer to this Agreement as
a whole and not to any particular provision of this Agreement, and Article and Section references are to this Agreement unless
otherwise specified. The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such
terms. Whenever the words "include," "includes" or "including" are used in this Agreement, they shall be
deemed to be followed by the words "without limitation." “Business Day” means any day that is not a Saturday, Sunday
or other day on which banks are required or authorized by law to be closed in New York, New York.

 

[Signature Pages Follow]

 

    5

     

    

 

Signatories

 

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

 

WILLSCOT MOBILE MINI HOLDINGS CORP.

 

 

 

	By: 	/s/ Bradley Soultz	 
	 	Name:	Bradley Soultz	 
	 	Title:	Chief Executive Officer	 

 

[Signature page to Share Repurchase Agreement]

 

    

     

    

 

SAPPHIRE HOLDING S.Á R.L.

 

	By: 	/s/ Evelina Ezerinskaite	 
	 	Name:	 Evelina Ezerinskaite	 
	 	Title:	Class A Manager	 

 

[Signature page to Share Repurchase Agreement]

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