Document:

Exhibit 10.4

 

October 10, 2018

 

ARYA Sciences Acquisition Corp.

51 Astor Place, 10th Floor

New York, NY 10003

 

Jefferies LLC

520 Madison Avenue, 2nd Floor

New York, NY 10022

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (the “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between ARYA Sciences Acquisition Corp., a Cayman Islands exempted company (the “Company”)
and Jefferies LLC as representative (the “Representative”) of the several underwriters named in Schedule
A thereto (the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each unit comprised of one Class A ordinary share of the
Company, par value $0.0001 per share (the “Class A Ordinary Shares”), and one-half of one redeemable
warrant, each whole warrant exercisable for one Class A Ordinary Share (each, a “Warrant”). Certain capitalized
terms used herein are defined in paragraph 12 hereof.

 

In order to induce the Company and the
Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such
IPO will confer upon the undersigned as a shareholder of the Company, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

		1.	If the Company solicits approval of its shareholders of a Business Combination, the undersigned
will vote all shares beneficially owned by it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

		2.	In the event that the Company fails to consummate a Business Combination within the time period
set forth in the Company’s amended and restated memorandum and articles of association, as the same may be further amended
from time to time (the “Charter”), the undersigned will, as promptly as possible, take all necessary
actions to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible,
but not more than 10 business days thereafter, redeem the IPO 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 Trust Account not previously released to the Company
(less taxes payable and up to $100,000 of such net interest to pay dissolution expenses), divided by the number of then outstanding
IPO Shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right
to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and
liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide
for claims of creditors and other requirements of applicable law. The undersigned hereby waives any and all right, title, interest
or claim of any kind in or to any distribution of the Trust Account and any remaining net assets of the Company as a result of
such liquidation with respect to the Founder Shares owned by the undersigned. However, if the undersigned has acquired IPO Shares
in or after the IPO, it will be entitled to liquidating distributions from the Trust Account with respect to such IPO Shares in
the event that the Company fails to consummate a Business Combination within the time period set forth in the Charter. In the event
of the liquidation of the Trust Account, the undersigned agrees that it will be liable to the Company if and to the extent any
claims by a third party (other than the Company’s independent registered public accounting firm) for services rendered or
products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction
agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per IPO Share and (ii) the actual
amount per IPO Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per
IPO Share due to reductions in the value of the assets in the Trust Account, less taxes payable; provided that such liability
will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the
monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s
obligation to indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as
amended, pursuant to the Underwriting Agreement. The undersigned acknowledges and agrees that there will be no distribution from
the Trust Account with respect to any Warrants, all rights of which will terminate on the Company’s liquidation.

 

     

     

    

 

		3.	The undersigned acknowledges and agrees that prior to entering into a definitive agreement for
a Business Combination with a target business that is affiliated with the undersigned or any other Insiders of the Company or their
affiliates, such transaction must be approved by a majority of the Company’s disinterested independent directors and the
Company must obtain an opinion from an independent investment banking firm, which is a member of the Financial Industry Regulatory
Authority, or an independent accounting firm that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

		4.	Neither the undersigned nor any affiliate of the undersigned will be entitled to receive and will
not accept any compensation or other cash payment prior to, or for services rendered in order to effectuate, the consummation of
the Business Combination; provided that the Company shall be allowed to make the payments set forth in the Registration
Statement adjacent to the caption “Prospectus Summary—The Offering—Limited payments to insiders.”

 

		5.	(a) The undersigned agrees that the Founder Shares may not be transferred, assigned or sold (except
to certain permitted transferees as described in the Registration Statement or herein) (the “Lockup”)
until the earlier to occur of: (1) one year after the completion of a Business Combination or (2) the date following the completion
of the Company’s initial Business Combination on which the Company completes a liquidation, merger, share exchange, reorganization
or other similar transaction that results in all of the Company’s shareholders having the right to exchange their Class A
Ordinary Shares for cash, securities or other property. Notwithstanding the foregoing, if the closing price of the Company’s
Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the
Company’s initial Business Combination, the Founder Shares will be released from the Lockup.

 

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		(b)	The undersigned will not, without the prior written consent of the Representative pursuant to the
Underwriting Agreement, offer, sell, contract to sell, pledge, hedge or otherwise dispose of (or enter into any transaction that
is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic
disposition due to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity
with the undersigned or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the
filing) of a registration statement with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent
position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of
1934, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to,
any other Units, Class A Ordinary Shares or Warrants of the Company or any securities convertible into, or exercisable, or exchangeable
for, Class A Ordinary Shares or publicly announce an intention to effect any such transaction, for a period of 180 days after the
date of the Underwriting Agreement.

 

		(c)	The undersigned agrees that until the Company consummates an initial Business Combination, the
undersigned’s Private Placement Warrants will be subject to the transfer restrictions described in the Private Placement
Warrants Purchase Agreement relating to the undersigned’s Private Placement Warrants.

 

		(d)	Notwithstanding the provisions set forth in paragraphs 5(a) and (c), transfers, assignments and
sales by the undersigned of the Founder Shares, Private Placement Warrants and Class A Ordinary Shares issued or issuable upon
the exercise of the Private Placement Warrants or conversion of the Founder Shares are permitted (i) to the Company’s officers
or directors, any affiliates or family members of any of the Company’s officers or directors, any members or partners of
the undersigned or their affiliates, or any affiliates of the undersigned; (ii) in the case of an individual, by gift to a member
of the individual’s immediate family or to a trust, the beneficiary of which is a member of one of the individual’s
immediate family, an affiliate of such person or to a charitable organization; (iii) in the case of an individual, by virtue of
laws of descent and distribution upon death of the individual; (iv) in the case of an individual, pursuant to a qualified domestic
relations order; (v) by private sales or transfers made in connection with the consummation of the Business Combination at prices
no greater than the price at which the Founder Shares, Private Placement Warrants or Class A Ordinary Shares were originally purchased,
as applicable; (vi) by virtue of the undersigned’s organizational documents upon liquidation or dissolution of the undersigned;
(vii) to the Company for no value for cancellation in connection with the consummation of the Business Combination; (viii) in the
event of the Company’s liquidation prior to the completion of a Business Combination; or (ix) in the event of completion
of a liquidation, merger, share exchange or other similar transaction which results in all of the Company’s shareholders
having the right to exchange their Class A Ordinary Shares for cash, securities or other property subsequent to the completion
of a Business Combination; provided, however, that in the case of clauses (i) through (vi) these permitted transferees
must enter into a written agreement agreeing to be bound by the restrictions herein.

 

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		6.	(a) In order to minimize potential conflicts of interest that may arise from multiple corporate
affiliations, the undersigned hereby agrees that until the earliest of the Company’s initial Business Combination or liquidation,
the undersigned shall present to the Company for its consideration, prior to presentation to any other entity, any target business
that has a fair market value of at least 80% of the assets held in the Trust Account (excluding the amount of deferred underwriting
discounts held in trust and taxes payable on the interest earned on the trust account), subject to any existing or future fiduciary
or contractual obligations the undersigned might have.

 

		(b)	The undersigned hereby agrees and acknowledges that (i) each of the Underwriters and the Company
would be irreparably injured in the event of a breach of the obligations under paragraph 6(a) above, (ii) monetary damages may
not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition
to any other remedy that such party may have in law or in equity, in the event of such breach.

 

		7.	The undersigned has full right and power, without violating any agreement by which it is bound,
to enter into this Letter Agreement.

 

		8.	The undersigned hereby waives any right to exercise redemption rights with respect to any of the
Company’s ordinary shares owned or to be owned by the undersigned, directly or indirectly, whether such shares be part of
the Founder Shares or IPO Shares, and agrees not to seek redemption with respect to such shares (or sell such shares to the Company
in any tender offer) in connection with any vote to approve a Business Combination.

 

		9.	The undersigned hereby agrees to not propose, or vote in favor of, an amendment to Article 39.8
of the Charter prior to the consummation of a Business Combination unless the Company provides public shareholders with the opportunity
to redeem their Class A Ordinary Shares upon such approval in accordance with such Article 39.8 thereof.

 

		10.	The undersigned agrees not to participate in the formation of any other blank check company (excluding
existing affiliations), until the Company has entered into a definitive agreement with respect to an initial Business Combination
or the Company has failed to complete an initial Business Combination within the time period set forth in the Charter.

 

		11.	This Letter Agreement shall be governed by and construed and enforced in accordance with the laws
of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of
or relating in any way to this Letter Agreement shall be brought and enforced in the courts of the State of New York of the United
States of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall
be exclusive and (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

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		12.	As used herein, (i) a “Business Combination” shall mean a merger, share
exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or
more businesses or entities; (ii) “Insiders” shall mean all officers, directors and sponsors of the Company
immediately prior to the IPO; (iii) “Founder Shares” shall mean all of the Class B Ordinary Shares of
the Company acquired by an Insider prior to the IPO; (iv) “IPO Shares” shall mean the Class A Ordinary
Shares issued in the Company’s IPO; (v) “Private Placement Warrants” shall mean the warrants that
are being sold privately by the Company simultaneously with the consummation of the IPO; (vi) “Trust Account”
shall mean the trust account into which the net proceeds of the Company’s IPO and a portion of the proceeds from the sale
of the Private Placement Warrants will be deposited; and (vii) “Registration Statement” means the Company’s
registration statement on Form S-1 (SEC File No. 333-227283) filed with the Securities and Exchange Commission, as amended.

 

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

 

		14.	The undersigned acknowledges and understands that the Underwriters and the Company will rely upon
the agreements, representations and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed
to render any Underwriter a representative of, or a fiduciary with respect to, the Company, its shareholders or any creditor or
vendor of the Company with respect to the subject matter hereof.

 

		15.	This Letter Agreement shall be binding on the undersigned and such person’s respective successors,
heirs, personal representatives and assigns. This Letter Agreement shall terminate on the earlier of (i) the consummation of a
Business Combination and (ii) the liquidation of the Company; provided, that such termination shall not relieve the undersigned
from liability for any breach of this agreement prior to its termination. The parties hereto may not assign either this Letter
Agreement or any of their rights, interests, or obligations hereunder without the prior written consent of the other party. Any
purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any
interest or title to the purported assignee.

 

[Signature Page Follows]

 

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	 	ARYA SCIENCES HOLDINGS
	 	 	 
	 	By:	/s/ James Mannix
	 	Name:	James Mannix
	 	Title:  	Secretary
	 	 	 
	 	Acknowledged and Agreed:
	 	 	 
	 	ARYA SCIENCES ACQUISITION CORP.
	 	 	 
	 	By:	/s/ James Mannix
	 	Name:	James Mannix
	 	Title:  	SecretaryExhibit 10.5

 

ARYA SCIENCES ACQUISITION CORP.

c/o Perceptive Advisors

51 Astor Place, 10th Floor

New York, NY 10003

 

October 10, 2018

 

ARYA Sciences Holdings

c/o Perceptive Advisors

51 Astor Place, 10th Floor

New York, NY 10003

 

Ladies and Gentlemen:

 

This letter will confirm our agreement that,
commencing on the effective date (the “Effective Date”) of the registration statement (the “Registration
Statement”) for the initial public offering (the “IPO”) of the securities of ARYA Sciences
Acquisition Corp. (the “Company”) and continuing until the earlier of (i) the consummation by the Company
of an initial business combination or (ii) the Company’s liquidation (in each case as described in the Registration Statement)
(such earlier date hereinafter referred to as the “Termination Date”), ARYA Sciences Holdings shall make
available to the Company certain office space, secretarial and administrative services as may be required by the Company from time
to time, situated at 51 Astor Place, 10th Floor, New York, NY 10003 (or any successor location). In exchange therefore, the Company
shall pay ARYA Sciences Holdings a sum not to exceed $10,000 per month, respectively, on the Effective Date and continuing monthly
thereafter until the Termination Date. ARYA Sciences Holdings hereby agrees that it does not have any right, title, interest or
claim of any kind in or to any monies that may be set aside in a trust account (the “Trust Account”)
that may be established upon the consummation of the IPO (the “Claim”) and hereby waives any Claim it
may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with the Company and will not
seek recourse against the Trust Account for any reason whatsoever.

 

	 	Very truly yours,
	 	 
	 	ARYA SCIENCES ACQUISITION CORP.
	 	 	 
	 	By:	/s/ James Mannix
	 	Name:	James Mannix
	 	Title:	Secretary

 

	AGREED TO AND ACCEPTED BY:	 
	 	 
	ARYA SCIENCES HOLDINGS	 
	 	 	 
	By:	/s/ James Mannix	 
	Name:	James Mannix	 
	Title:	Secretary

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